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Anonymous
Bitcoin Thread and Advice 2016-07-08 20:10:08 Post No. 1369786
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Bitcoin Thread and Advice 2016-07-08 20:10:08 Post No. 1369786
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LOOK ANOTHER BITCOIN THREAD!!
Serious question though. Is investing in bitcoin and I mean serious investing like over $15000 not profitable. Even if electricty was a non issue? My family owns a farm and we run on natural gas generators. I have done the math with our specific generator and looking at our monthly bill and 10 therms = 1 million btus. our generator is 200 amp with 20 kw 208-240 v
if I were to purchase 16 s7 miners they would they would run the generator at near 100% which is 308000 btus which = 3 therms. A therm costs $.05 so basicaly would be paying $.15 an hour to run these machines rather than $2.58 an hour on electricity. According to bitcoin calculators and adjusting with 7% increase in difficulty monthly i would be making well over $3500 a month
WHAT AM I DOING WRONG. IS THIS A GOLDMINE THAT I SHOULD TAKE THE OPPORTUNITY TO TAKE?
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>>1369786
>IS THIS A GOLDMINE THAT I SHOULD TAKE THE OPPORTUNITY TO TAKE?
simple answer is no
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>>1369814
why not? seriously? everybody on this site shuts down anyone starting a bitcoin farm simply on the basis of "power costs will put you negatives". Well I have a natural gas generator not being used and it costs nothing when compared to electricity.
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>mining payout literally cuts in half tomorrow
>guise should i mine?
lol faggot
but if your electricity is really cheap it might be worth it
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>>1369845
ive been following bitcoin since 2012. bitcoin is most likely to increase in price. the last halving happend when bitcoin was like $30 months after it skyrocketed to $1000 somewhere in november
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>>1369821
Minimg equipment also obsoletes fast but you might wanna check other online communities with people that actually run or have ran mining operations.
Try plebbit and bitcointalk.
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>>1369861
Halving's already priced in. Could it be any more obvious?
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>>1369861
mtgox willy bot.
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So since Coinbase and Bitstamp are unreliable, who do you use to withdraw to fiat?
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>>1369868
Was it already priced in last time?
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>>1369786
No, but you can mine the pump and dump coins of the week. Wait till coin is released, mine it at full speed, dump whenever the dumping is good. Or just mine the more longlived meme coins and hope that one of them will take of. Its like penny stock trading in reverse. In penny stock trading you invest and hope that it doesnt dissappear and maybe takes to the moon and in mining you just hope that you will make your investment back in a lifetime. I wounder what is the coin with the highest ratio between easiest to mine and profit. But it probbly not bitcoin anymore famalam.
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Buy ethereum. Its going up faster than btc right now
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>>1370052
Last time is never going to happen again. Another obvious fact.
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>>1370059
ETH is still the best coin to mine right now.
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Should I buy before halving?
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Are faucets worth it while I wait until I have some cash to invest? I think of how much all the satoshi I got when it was around $10 a coin would be worth if I had saved my wallets before switching computers. Makes me think that even a few thousand satoshi could be worth a few bucks down the line
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