Buy computer equipment to ANONYMOUSLY mine your own Bitcoins?

Discussion in 'Bitcoin and Cryptocurrency' started by master.on, Nov 19, 2017.

  1. master.on

    master.on Member

  2. ️ Hit 8000 today
     
  3. CJames

    CJames Member

    Firstly, the equipment of bitcoin mining are so expensive due to the high cost of strong CPU. secondly, it is so slowly to min a one bitcoin.
    So I wouldn't try to do that.
     
  4. Dema

    Dema Pharmacom Rep

    Mining isn't very profitable right now unless your really know what your doing.. you can make a lot more money much faster learning how to trade
     
    DrinkFlintWater and ickyrica like this.
  5. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    You need to do much more research on this. Joining a mining pool is the easiest part IMO. The equipment you would need and considering other things such as power sources(e.g solar power) are a huge undertaking to be PROFITABLE in mining as of today. Things have evolved quite extensively....just in 2017 alone.
    I just find it comical there are people thinking they can make $$$ off cloud mining etc....thats a ponzi scheme through n through...
     
  6. master.on

    master.on Member

    Do you know how long it can take to recover that investment?
    6 mos? 1 year?


    I don't think mining is UNprofitable. At worst return on investment might be slow. Otherwise nobody would ever mine bitcoins and everyone would sell their servers.

    I'm just looking for ANONYMITY, not big profitability.
    Just to spend some CASH in servers and prepaid USB modems and get some $500 worth of quite untraceable bitcoins every couple months or so, since there's no Credit Card or ID to trace back to you.
    It looks very possible to me.
     
  7. CJames

    CJames Member

    Well, if you are looking for anonymity then it's the right tool. If you have one of those machines, then you don't have to go online and buy coins but it would be too fucking slowly to make 100$ of bitcoin and it would be too expensive (taxes...). I guess it's a good tool for the guys who sell steroids and want to launder money.
     
  8. master.on

    master.on Member

    Maybe mining MONERO, not bitcoin still makes sense?
    https://www.wired.com/2017/01/monero-drug-dealers-cryptocurrency-choice-fire/

    Which type of hardware is the most efficient for mining Monero?

    Don't use a mining computer for ANYTHING else
    as it can reveal your true identity
    We're also quite happy to announce the addition of a new feature to Monero: Smart Mining. This is a feature that will evolve over time, but at its most basic it is something that will allow everyone running the client software to support the network in an unobtrusive manner. Smart Mining detects your CPU usage, and if your CPU is idle and you aren't on battery power (for laptops and/or connected UPS devices) it will begin mining. As soon you switch to battery power or your CPU activity picks up it will pause mining until it sees it is safe to start again. You still set your Monero address for Smart Mining, as always, and whilst your chances of solving a block may be relatively small (for now;) it is still an easy way to support the network without needing to purchase expensive equipment. This work is complete (for Linux) and is currently being tweaked to work on our other supported operating systems. Ongoing process can be followed here: GitHub - oranjuice/bitmonero at smart-mining
     
    Millard Baker likes this.
  9. 23inch

    23inch Member

    At this point, unless you have fucktons of money to spend on ASIC miners or those AMD GPU's which are VERY rare and EXPENSIVE to find, you will only be wasting your time and money honestly.
    Not to mention you basically need free electricity to see any profit at all.
     
  10. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

  11. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

  12. x11

    x11 Member

    Can make money by just running a computer program?

    Sounds suspect, would rather spend a day at the horse races.
     
  13. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

     
  14. master.on

    master.on Member

    Mr. Bowman, who is from Plattsburgh, said he sympathizes with the mayor’s concerns. He is the only employee of his company, and he is presently a full-time medical student on the Caribbean island of Grenada. But Bitcoin mining paid his college tuition and it is paying for medical school.
    Is Bitcoin a Waste of Electricity, or Something Worse?


    This guy pays his UNIVERSITY tuition with Bitcoin mining
    and you guys can't figure out how to afford GH (without resorting to G4P) :D
     
  15. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Bitcoin Mining Banned for First Time in Upstate New York Town

    But wait....

    Plattsburgh's Crypto Mining Ban Could End Earlier Than Expected - CoinDesk