Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Bitcoin Mining as a Business

  • 24-03-2015 11:30am
    #1
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,241 Mod ✭✭✭✭


    I just thought I'd ask the question, is Bitcoin Mining worth it as a business. I know that Bitcoins value is open to wild variations in price, but from a Hardware/Cost point of view versus the potential return/loss, is it worth it? I know that it requires serious Computing Power to operate a machine, even a cluster of machines and the need to cool them, but I'm wondering what the payoff would be as a ratio of Hardware Costs/Maintenance to Profitable Output.


Comments

  • #2
    jimgoose
    Registered Users, Registered Users 2 Posts: 20,180 ✭✭✭✭jimgoose


    The Bitcoin ship sailed about four years ago. Unless you fill a warehouse with ASICs you'll do well at this stage to get one actual BTC every six weeks or so. I'd say the cost of electricity to produce it would be more than break-even too.


  • #3
    jimgoose
    Registered Users, Registered Users 2 Posts: 20,180 ✭✭✭✭jimgoose


    Mmm. I suppose when quantum computing comes properly on-stream that might kick-start the whole shebang again somewhat. That's well-and-fine, but quantum machines they're are a pain in the arse when applied to cryptographical problems. They can kick the shít out of 512-bit encryption in about 400ms, but the trouble is at the end they present an infinite number of solutions, most of which are incorrect in this Universe. So figuring out which solution is the right one for the local implementation of physics is what you'll need the warehouse-full-of-ASICs for at that point! :D


  • #4
    ED E
    Registered Users, Registered Users 2 Posts: 36,169 ✭✭✭✭ED E


    You wont compete with the chinese farms. Cheaper labor and cheaper energy rates. And they dont pay VAT and duty on ASICs they buy.

    You could gamble with alts, but its just that, a huge bloody gamble.


  • #5
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,241 Mod ✭✭✭✭L.Jenkins


    ED E wrote: »
    You wont compete with the chinese farms. Cheaper labor and cheaper energy rates. And they dont pay VAT and duty on ASICs they buy.

    You could gamble with alts, but its just that, a huge bloody gamble.

    I gathered that was the case, but I needed some expert opinions on the matter.


Advertisement