Mining

Earlier this year when BTC was $1200 I told everyone to buy in. One girl listened and a guy said he bought a mining rig for $300. Today he says that he has made $15,000 in 7 or 8 months from mining BTC off his $300 rig. Is he lying or am I only reading FUD about mining?

sounds extremely unlikely.

mining bitcoin? yes

mining alts? maybe not

marry the girl

are you talking about me? guy who bought a PC for gayming last decembr and mined the fuck out of ZEC and dumped it through march and then got lucky on ETH->bitbean?

I'm not a typical case. any monkey should've made a fuckton of money mining ethereum this year

how much have you made? oh wait, nothing because you are an asshole that wanted to bait other people onto losing money

More people getting into mining = exploding GPU prices and higher difficulties.

My buddy and I got into crypto together, we both started with $500. I think we both bought like 20 LTC, 10 ETH and the rest in XRP. A month later our shit more than 10x’d (April-may 2017).

He’s more of a tech guy and I’m a numbers guy so naturally he started cashing out his gains to buy mining equipment while I continued holding/trading.

At the moment I have about 10 times more crypto holdings than he does even though we started with the same amount and same holdings. He does make steady gains every day where as I’m always up or down on something so it’s safe to say that mining isn’t very profitable for the little guy whereas trading/holding/investing is probably more profitable.

Not sure if that helps at all but thought I’d share.

No. I told people to buy BTC he did the mining thing on his own. And no one lost money. I’m only upset because I bought 2 BTC and he has made as much as I have almost with much less initial investment. If he is telling the truth. Which I am unsure of because of previous experiences.

Can you mine BTC with a $300 rig though? I thought you needed expensive powerful rigs for that?

bought $700 rig 3 months ago, made $1800 so far (at current BTC price)

No, he would not be able to mine 2 bitcoins with 300usd equipment in 2017. Impossible. Possible if he mined alts tho

What are alts?

I believe that and I think that’s fairly impressive and a good source of $$$ but that’s not on track to make the $15 grand in 7 or 8 months my coworker is claiming.

nah your coworker is lying

Thank you. If I spent the money on a s9 ant miner (approx $2000) do you think it would be worth it in 2018?

Can an old ASIC miner from before the bitcoin difficulty increase still mine current bitcoin?

I know a guy who bought a miner but it was delayed to all fuck and he only got it after the difficulty increase and just after the crash.

>Today he says that he has made $15,000 in 7 or 8 months from mining BTC off his $300 rig

electricity is free, apparently

only real response.

Actual miner here, all bollocks.

That's a big gamble to take and you would probably be better off just buying btc . DragonMint Miners have been announced a few days ago. If they deliver on their promises it will make current gen kind of obsolete. Also expect other companies entering the ASIC Miner market.

Just get 2 GPU if you want to get your feet wet. You will actually learn a lot about the technical and economical aspects of crypto. Small scale speculative mining is a great hobby and the best way for newcomers to actually learn anything.

Coins other than bitcoin.

This

Okay thank you. I will research it and get my feet wet.