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Why is bitcoin mining expensive?

youmanyousef
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Go to solution Solved by Enderman,
7 minutes ago, youmanyousef said:

When i search for asic miners i cant find one that would produce bitcoins fast enough to cover the expense?

 

That's because you're several years late to the party.

Unless you own the equipment already, you're going to lose money.

Posted

every time i search for a good rig, it ends up being a waste 

when i put it under the bit coin calculator,

why?

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Because electricity is not for free!

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1 minute ago, youmanyousef said:

every time i search for a good rig, it ends up being a waste 

when i put it under the bit coin calculator,

why?

Because you just cannot beat an ASIC miner. Simple as that. PCs are designed to do lots of different things; ASIC, on the other hand, can only do one thing, which in this case would be mine Bitcoins. But the little it can do, it does VERY efficiently.

 

Not that I'd suggest getting ASIC miners anyway. Not worth the investment.

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Just now, GER_T4IGA said:

Because electricity is not for free!

of course but that wasn't necessarily my question...

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Just now, Imakuni said:

Because you just cannot beat an ASIC miner. Simple as that. PCs are designed to do lots of different things; ASIC, on the other hand, can only do one thing, which in this case would be mine Bitcoins. But the little it can do, it does VERY efficiently.

When i search for asic miners i cant find one that would produce bitcoins fast enough to cover the expense?

 

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7 minutes ago, youmanyousef said:

When i search for asic miners i cant find one that would produce bitcoins fast enough to cover the expense?

 

That's because you're several years late to the party.

Unless you own the equipment already, you're going to lose money.

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Just now, Enderman said:

That's because you're several years late to the party.

Unless you own the equipment already, you're going to lose money.

Thanks.

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Go to topic listing Folding@home, Boinc, and Coin Mining

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