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Mining shitcoins to stack sats?
45 sats \ 16 comments \ @kilianbuhn 13 Mar 2022 bitcoin
Hi everyone, I was thinking about whether I should start mining with my gaming pc while I don't use it. After a few benchmarks and calculations I think I am not profitable - it's more or less +- 0 maybe a little at a loss. But it's cheaper than buying the KYC free markup which is often at +5 percent or more.
Should I do it? On one hand I don't want to support shitcoins even if I get my payout or exchange to Bitcoin. On the other hand my contribution is negligible. Also it's a free market and miners use their hashpower for their own maximum benefit either way - if I don't do it someone else will.
What do you think?
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21 sats \ 0 replies \ @Brunswick1 13 Mar 2022
If you're using the waste heat to heat your house, you should consider the difference in cost between heating with electricity versus whatever hydrocarbon you would normally use, and include the profit from mining. Its more likely than not you'll find the 11.5 cents per KWH profitability is much lower by offsetting your heating costs and the higher profitability of mining alts with GPUs. Your profitability per KWH might even be negative (meaning you're stupid if you don't do it). You could also use mining to 'store' excess solar power generation, and use the heat for your house. If you really get sophisticated, you could use waste heat from your mining equipment to preheat your domestic water when you don't need to heat your house. As far as mining altcoins, I don't see that as immoral any more than selling diamonds or gold is immoral. I personally have no use for those things, but someone does so long as you can sell it.
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2 sats \ 5 replies \ @DarthCoin 13 Mar 2022
Shitcoining is a SIN! Don't do it. By mining shitcoins you just give them support and a reason to exist. SHITCOINS SHOULD JUST DIE.
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0 sats \ 0 replies \ @nolim1t 20 Mar 2022
I agree
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0 sats \ 0 replies \ @BlokchainB 13 Mar 2022
😂😂
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0 sats \ 2 replies \ @0373be8d96 13 Mar 2022 freebie
On one hand, this may be very likable as it reminds us of the authorities in our childhood.
On the other hand, as much as what you say is technically correct, you should be able to let go and give everyone freedom to experience the truth on their own.
0 sats \ 2 replies \ @nolim1t 14 Mar 2022
Monero with cpu
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0 sats \ 1 reply \ @kilianbuhn OP 15 Mar 2022
Yes, mining Monero has a good return. But mining Ethereum or Algoswitching has a better return.
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0 sats \ 0 replies \ @nolim1t 20 Mar 2022
Ethereum with CPU? lol
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0 sats \ 1 reply \ @zuspotirko 13 Mar 2022
How much of a difference between bitcoin mining and shitcoin mining and payout in bitcoin are we talking?
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0 sats \ 0 replies \ @kilianbuhn OP 15 Mar 2022
It's not even close
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0 sats \ 2 replies \ @k00b 13 Mar 2022
Can you trade alts for Bitcoin KYC-free? How?
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11 sats \ 0 replies \ @pigman 13 Mar 2022 freebie
https://app.thorswap.finance/
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10 sats \ 0 replies \ @kilianbuhn OP 15 Mar 2022
I could use bisq. But there are mining pools that payout in sats per default or where you can choose payout method (most well known in this space is nicehash as far as I know)
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0 sats \ 0 replies \ @avirads 13 Mar 2022 freebie
Do it for a week. Then force yourself to stop and focus on the non shitcoin with single minded attention of learning more about it for a week. Compare both the weeks and decide for yourself.