Crypto Mining

[Ranselknulf]

Now that I'm done with school and all the other shit distracting me, I'm seriously considering getting into crypto mining.

Anybody have thoughts on good pools for beginners or other good ideas for entry level ASIC's?

I've talked with Gregz before and he suggested mining Monero, which after reading on it some seems like a good coin. (although no ASIC's for monero?)

At the end of the day I'd like to make some profit, and I have an empty room at my house to fill with computers, as long as it makes money of course.

[asf]

As far as I can tell the time of mining is gone

[General Reign]

I heard I can get rich off this am I too late? Hehe.

[maidenhaver]

Yeah, once you hear about it, its too late.

[Nemesis]

mining Monero

It wouldn't hurt to mine and hoard Monero (XMR) to use as a more private form of payment. It may not yield as big of profits compared to other cryptocurrencies.

As far as I can tell the time of mining is gone

I agree, especially for Bitcoin.

[General Reign]

Of course the time is gone. The time was gone a few years ago. The time was gone for me when I did not immediately buy that bitcoin a decade or more ago. The common folk always get wind about things when it is too late.

[Ranselknulf]

As far as I can tell the time of mining is gone

Mining or resolving transactions of course, gotta be some way to get paid for this shit. This isn't something I expect to quit my day job with.

There are so many alt coins out there, its basically like buying lotto tickets imo. Mine some of whatever new shit comes out and then forget about it in ur wallet some where. If it does happen to spike because of memes then sell it.

If I can get the money to cover the cost of a couple asic's and pay for the electricity (ie break even) and let me mine some random coins on the side, I call that fine enough for a hobby.

[Ranselknulf]

mining Monero

It wouldn't hurt to mine and hoard Monero (XMR) to use as a more private form of payment. It may not yield as big of profits compared to other cryptocurrencies.

As far as I can tell the time of mining is gone

I agree, especially for Bitcoin.

Completely agree, I don't think Bitcoin is worthwhile. In fact, I have a feeling bitcoin will go to zero sooner rather than later.

For me, I'd like to get into the newer and less well known coins, but I figured I'd start with something everyone knows to learn the ropes so to speak.

The profitability factor for crypto is always going to lean toward the heavy hitters, just like the stock market or any other "free market" trading bullshit. Doesn't mean you can't skim a little for yourself imo.

[Nemesis]

I figured I'd start with something everyone knows to learn the ropes so to speak.

Add Ethereum to your research.

[Gregz]

As a hobby it can be fun to pick up.

If you have free electricity (solar, hydro, subsidies, etc.) and extra hardware laying around then there's no reason not to do it.

[Ranselknulf]

Thanks for the advice men, I'm gonna leave my computer running tonight and see what happens with this monero thing.

Suppose I should look at my computer security a bit also. Any advice for software to prevent theft of these types of coins.

[Ranselknulf]

Syncing 2.9 million blocks. Mfw

[Nemesis]

Any advice for software to prevent theft of these types of coins.

Keep a hard copy of your wallet password and seed words.

Syncing 2.9 million blocks. Mfw

Hopefully you’re syncing on a solid-state drive.

[Ranselknulf]

I'm syncing onto an hdd. What I read says that the initial sync is slower onto an hdd, but it doesn't really matter much once you are caught up.

hdd's should theoretically last longer than ssd's also, but honestly, both types of drives are fairly inexpensive.

I fully expect to dick this entire process up right now, but I just figured I'd start somewhere and figure things out as I go. This might be a good excuse for me to get around to building a linux computer now that I think about it.

Well, I'll figure it out when I get back from vacation. Cya all in a while.

[telosmelos]

crypto is kike shit, y'all are faggots for falling for it

[Red7]

monero is possibly worst shitcoin. by worst i mean most kike monitored. unless u compare it some trash like eth or xrp which are not even blockchains shitcoins.
bottom line everything beside bitcoin is gay, jewish and retarded and ppl should be shamed and harrased and mutilated for dealing with those schemes.

mining wont be profitable unless u got access to cheap energy. and i mean really cheap shit. if u got that, its free money but lots of hassle/initial investment.

overall, imo, its for retarded cowards who dont know bitcoin will make 20 000x gains in next 3-5 years. cause otherwise they would just buy more bitcoin instead asics. but hey go ahead and make hashrate higher its good for the network.

[Emphyrio]

crypto is kike shit, y'all are faggots for falling for it

i made 150k from crypto but yeah at this point it's done.

[Ranselknulf]

I'm assuming Red7 is being sarcastic, anyhow.

I'm sure there are other ways to make money on crypto besides just mining, and being less regulated than say the FOREX, there is more potential up side (and downside ofc).

Either way, its my retard money, and I'll burn it how I please.

[Ranselknulf]

monero is possibly worst shitcoin. by worst i mean most kike monitored. unless u compare it some trash like eth or xrp which are not even blockchains shitcoins.
bottom line everything beside bitcoin is gay, jewish and retarded and ppl should be shamed and harrased and mutilated for dealing with those schemes.

mining wont be profitable unless u got access to cheap energy. and i mean really cheap shit. if u got that, its free money but lots of hassle/initial investment.

overall, imo, its for retarded cowards who dont know bitcoin will make 20 000x gains in next 3-5 years. cause otherwise they would just buy more bitcoin instead asics. but hey go ahead and make hashrate higher its good for the network.

All the big institutional investors have jumped onto the bitcoin bandwagon. There is literally billions of dollars of bitcoin investments from investment/hedge funds. When the economy starts to crumble, and it will sooner or later (up for debate at this point), bitcoin will be sold off in mass to make margin calls. This will have a huge impact on the price of bitcoin.

Bitcoin enjoys the "first to market" advantage, but the "knock offs" are cutting into its market share significantly. I think a big downturn in the US economy will allow one of the competitors a chance to come out on top, but at the very least another bitcoin crash is coming.

Until I can go to a local grocery store and pay for my groceries with "Fill in the Blank" coin, its all speculative madness based on the psychology of investors. I can tell you one thing though, if all the big investment firms are telling me to buy something, I most certainly think its a bad idea. You never make money buying the publicly advertised "sure thing." You stand a better chance making money buying the options the big investors are telling you to stay away from.

[maidenhaver]

Money represents time, and if I'm not risking my money, what the fuck is life?

[Ranselknulf]

Time is what you spend grinding levels in rpgs.

Life is rpgs.

[Red7]

monero is possibly worst shitcoin. by worst i mean most kike monitored. unless u compare it some trash like eth or xrp which are not even blockchains shitcoins.
bottom line everything beside bitcoin is gay, jewish and retarded and ppl should be shamed and harrased and mutilated for dealing with those schemes.

mining wont be profitable unless u got access to cheap energy. and i mean really cheap shit. if u got that, its free money but lots of hassle/initial investment.

overall, imo, its for retarded cowards who dont know bitcoin will make 20 000x gains in next 3-5 years. cause otherwise they would just buy more bitcoin instead asics. but hey go ahead and make hashrate higher its good for the network.

All the big institutional investors have jumped onto the bitcoin bandwagon. There is literally billions of dollars of bitcoin investments from investment/hedge funds. When the economy starts to crumble, and it will sooner or later (up for debate at this point), bitcoin will be sold off in mass to make margin calls. This will have a huge impact on the price of bitcoin.

Bitcoin enjoys the "first to market" advantage, but the "knock offs" are cutting into its market share significantly. I think a big downturn in the US economy will allow one of the competitors a chance to come out on top, but at the very least another bitcoin crash is coming.

Until I can go to a local grocery store and pay for my groceries with "Fill in the Blank" coin, its all speculative madness based on the psychology of investors. I can tell you one thing though, if all the big investment firms are telling me to buy something, I most certainly think its a bad idea. You never make money buying the publicly advertised "sure thing." You stand a better chance making money buying the options the big investors are telling you to stay away from.

u have no idea wtf u talk about.

first, universe is short bitcoin. ever heard about operation chokepoint closing solvent banks cause they were offering their clinets to use money to buy bitcoin?

nobody has it. especially filthy plebs that have they goyslop eyes gloss when u talk that bitcoin is not shiba
so there will be margin call for short sellers of bitcoin, which is almost evetyone as almost evryone dont have it.

end economy crumbling will be what will elevate bitcoin. cause only reason retards and institution buy stocks is cause its form of money. they dont care about production just price going off. once stock market implodes stock money will flow into bitcoin as bitcoin shares cannot be dilluted as stocks and there is no bitcoin company going bankrupt that can tank it.

most shitcoin were made by bankers. they advertise it to idiots fuck idiots and cripple progress of species. ofc i want idiots to die and be poor but i dont like the tech cocblocking part. almost nobody advertise bitcoin, the fucking fees are too low, on shitcoin u can spend 90 of shitcoinj market cap on marketing. only one who do it are some funds that dont want denegrate themselves with shitcoins and some ppl who know whats going on including some intelligence like space force working against jews.

regardless the disgusting world of retards surviving cause jewish fake jobs must be teared down. weak must be purged.

[Ranselknulf]

end economy crumbling will be what will elevate bitcoin.

I wanted to highlight this part of your post because it shows our fundamental disagreement.

I think during a severe economic collapse, people will turn to more tangible assets instead of computer coins, at least initially. Crypto currency isn't ready to replace the current monetary paradigm.

I could see things like hawala markets popping up if/when banks and politicians really fuck up the global economy.

People will trust what they can see directly in front of their face, not some random crypto coin that can be stolen at the point of sale.