Bitcoin Farming

Oklahoma is where I will house them all. email my new email I created for this. [email protected] for more details. Just trying to bulk order these things and really take advantage while the price is low. Once the bitcoin price raises to 25k-50k these machines are going to skyrocket in price. worst comes to worse resell value on machines we purchase will be amazing.

What's your angle? You want us to buy the equipment, which you will maintain, for a cut of the yield btc?

I currently own an S9 and an L3, just bought myself a D3 with the gains from my L3.

I do agree that diversifying is important and I've only spent roughly 20% of my portfolio on ASIC miners.

I will be going in on the purchases as well because I want more skin in the game. I will handle all upkeep because I have the time and the space. I am "crowdsourcing" this because it has the most effectiveness if we can get multiple S9s in one order and start right away. I will split the cut based on how much money each person puts into the machines based on the value of the machine and coin as of right now, not future price. The returns will be very nice especially because electricity is not a cost that I will have to factor in.

Those machines will no longer be profitable when BTC is 20-50k.

This is a poor investment. But hey, it's your money.

also, inb4 "anonfarmer took my money and ran"

That might be one of the most unintelligent comments I have seen. Do you know how long term investments work? These machines are going to be EXTREMELY profitable when BTC is 20-50k. That's actually when the price of the miners themselves will skyrocket.

The opposite is true.

>investments work? These machines are going to be EXTREMELY profitable when BTC is 20-50k. That's actually when the price of the miners themselves will skyrocket.

You don't understand mining, do you?

I have yet to take money from anyone actually. Are you bored today and want to troll?

>from

Just trying to save you from yourself.

>Hurrrrr mining is only profitable when a coin is worth $0.00004!!!
>See look I make $0.005 a day mining!
>you fucking idiots mining coins worth $50k LOL enjoy making $50 a day while I make fractions of a penny

:( I don't need saving. I'll come back to the board soon and let you know how great things are going. I still can't believe you just tried to validate that argument.

I noted your email and the plan as said in the thread. Please do come back if you make progress on this.
If you had skin in the game already, had some miners running showing profitability and pics of the warehouse I would consider getting in this.

To provide a serious answer:

Earning money by mining requires your mining rig to figure out what combination of characters fully details the transactions that occurred yet adhering to the blockchain format. It then requires concurrence from other nodes.

Simple, right? Except as time goes on, difficulty rises making a solution harder to find. In addition, you're competing against entire warehouses overseas filled with nothing but ASIC miners

Each S9 has a max of 14 TH/s. Say you have 10, for total hash power of 140 TH/s. Total BTC hash rate is about 6,000,000 H/s. Thus, you have a 0.000023% chance of finding the solution first, at any given point in time. And remember, you don't get a dime if you don't find the solution.

As time goes by, the network hash rate will keep increasing. Which means you'll constantly need new and more hardware or else your earnings will keep going down (both due to difficulty increase, network hash rate increase, and payout decrease).

It's a losing proposition. Just buy some coins.

Also, I mine. Buy only as a hobby. And not BTC.

Not going to ship my miners to you, they are all setup here mining BCH

Not to mention that your 10 S9's will cost around $1000 a month in electricity (assuming 10 cents/kWh).

It'll require total electrical service of at least 150 amps (equivalent to most residential homes), and your electricity costs will rise over time due to increasing cost of electricity and degraded components wasting more of it as heat.

I don't want you to ship me your miners. That isn't what any of this is about

Then explain yourself, you dummy.

Do the intelligent thing and scroll up and find out :)

ok i don't think u guys understand what you're talking about. ASIC miners are action-specific circuits meaning bitcoin miners can literally only mine bitcoin and are useless for anything else.

>y only mine bi

ASIC = Application specific integrated circuit. Designed only to do 1 thing. In this case, solve SHA-256 algorithms. To be fair, a BTC can be used to mine any SHA-256 coin.

Not gona tell you how you can compete with me for free moneysss lozer

Bullshit, you can mine bitcoin, switch to s2x and back to s1x if profitable and bitcoin cash and several other 256 coins, read up man

It is way more simple, just grab chunks of data, hash them and if you get enough zeros at the beginning of the hash it is jackpot, higher dificulty is more zeros needed.

Just read the original docs of satoshy and dont listen to the blockstream core mumbo jumbo smoke and mirror stories

lol....
en.bitcoin.it/wiki/Block_hashing_algorithm

>I'm surprised the cops didn't investigate why our shed was pulling 4 times the current of any house in our neighborhood

And? Who cares if they did? Protip: crypto isn't illegal

A bitcoin ASIC does sha256 and only sha256. It can't do any other algorithm.

>time goes on, difficulty rises
That's actually not correct, time itself is not a factor, except in combination with hash power. If the total hash rate of the network remains stable, the difficulty doesn't increase. It only increases if additional computational power is added to the network over time. Or decreases if the comp. power drops. E.g. Miners get out of the coin and mine something else.

>you don't get a dime
Only partially correct. If you solo-mine, true. But you could join a pool and get shares in proportion to the hash power you contribute.

Hey I'm from OKC.

Glad to see people agree this is worth it. Come join the 9 other people who have emailed me and lets get this together. [email protected]

When mining bitcoin, the hashcash algorithm repeatedly hashes the block header while incrementing the counter & extraNonce fields.

Is just grabbign a bunch (ok you are right following some basic rules) of data and hashing it.....

By the way, just checked your link, you linked to a description of JUST ONE implementation of a mining function.

Core makes you believe that the software and itheir specific programming solutions is important BUT IT IS A PROTOCOL like Http for the internet (internet) and internet explorer or mozilla as a browser (one specific implementation.

Internet explorer is not internet....

Have fun throwing thousands of dollars at diminishing returns!

they'd investigate because places that use that much power are usually cannabis grow houses.