Best pools for beginners?

>2016
>mining bitcoin

enjoy your useless digital money

>>56658897
Last I heard the electric cost of running a bit coin system just isn't worth it

>>56658897
Best pool is the one that takes you back 6 years

>>56658928
I've read that miners (esp ASIC) are becoming more and more energy efficient. This fact of power usage, in tandem with another hustle to recoup and/or mitigate electricity costs, means that it is feasible

>>56658948
And by side hustle, I mean that the house I'm living in now is already fairly energy efficient plus I have an AirBnB room I rent to defray utility costs. If I increase my clientele this should negate any extraneous electric costs produced by my miners (I plan on having maximum 2 or 3)

>>56658914
if people use it, is it really useless?

>>56658897
Bitcoin mining is effectively controlled by 5 Chinese guys.
It's no longer decentralized in any real sense. The sooner it dies the better.
Stop paying into this ponzi scheme. Unless your electricity is cheaper than China you won't see any profit.

>>56658990
Why would it be considered a ponzi scheme?

>>56658990
>controlled by 5 Chinese guys
give names

>>56659050

sim long woo tim zhi

>>56659050
im pretty sure he just got that data from a motherboard video

>>56658961
You don't find that immoral at all?

>>56659103
>AirBnB
>paid service
>immoral
im sorry what?

fuck off to >>>/biz/ with your ecoin cancer

>>56658990
Craig Wright is not Chinese

>>56658897
>Hi /g/. I feel like I have a handle on bitcoin mining and would like to start my own processing soon.

see: >>56658940, you're 5+ years too late

>>56658928

it has almost never been worth it unless you had access to very cheap electricity or were generating and the feedback tarrif would have been less than the profit from mining

for the most part simply investing the money you'd have spent on the rig (+ time invested, maintenance of the rig, added cost of cooling a mining rig etc) straight into bitcoin would have been about on par from the profits you'd make mining, but of course if you're mining you get to keep the mining rigs and the coins you generate can't be traced to you if you're not silly about it

that's not to say nobody made profit from mining bitcoin but for the most part "investing" in bitcoin was always profitable too

>>56658948
>I've read that miners are becoming more and more energy efficient.

consider this, you're literally competing with people that have dirt cheap electricity for whatever reason (they're stealing it, they've stolen stuff that can generate and can't get feedback tarrif, they have free/cheap electricity for whatever reason (parents basement doesn't count)) and have spent tens to hundreds of thousands on rigs already and thousands of people have bee doing this since 2011-2013 (first asic miners were 2013 but gpu mining rigs were still usable during this period as were the fpga rigs)

mining has always been a fools game but especially so post 2014 or so unless the only thing you want is new virgin currency that can't be traced to you, in which case invest now and hope the mining difficulty doesn't go up, hope the price of bitcoin doesn't drop, hope you can access cheap electricity for well over a year, and you *might* just get a return on investment and some measly profit (and of course straight up investing into bitcoin achieves similar results)

>>56659159
rethink my decisions: the post

thanks for your candor in the matter. I suppose the allure of the riches without sweat meme is always too much to handle for a faggot like me.

>>56658897
You're 6 years late to the party and that shit belongs on >>>/biz/

You're too late to the party, OP

the chinese control bitcoin now. malware these days explicitly searches for bitcoin wallet codes or bitcoin related stuff.

even if you have free electricity youre always going to be in danger. dont think for a moment these chinese don't have crawlers looking over the internet searching for bitcoin miners to victimise and rob. youll probably find yourself infected into an elaborate chinese botnet if you arent already.

File: btc.png (14KB, 323x564px) Image search: [Google]

14KB, 323x564px

>>56659050
It's actually just 4 Chinese guys/companies.

>>56659413
why isn't there better ways to mine ? Seems to me it's only a matter of hardware power. Why isn't there someone making a more efficient miner or something ?

>>56659531
It's how Bitcoin is designed, it's flawed by default.

Some other cryptocurrencies try to handle this differently, for example Ethereum is planning to switch to "proof of stake" at some point.
https://en.wikipedia.org/wiki/Proof-of-stake

mine monero thanks me later

>>56659134
This.

>>56658897
Do you have a specialized cpu for bitcoin mining? If no, then you're fucked up.