Really those numbers all say very little to me, not a technical mind at all ^^ Is mining still that profitable? Suppose something like this is pretty expensive.
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Really those numbers all say very little to me, not a technical mind at all ^^ Is mining still that profitable? Suppose something like this is pretty expensive.
Mining can still be profitable, if one can keep their electric bill down so it doesn't eat up all their earnings.
From the non-tech standpoints its like this....
Cheap little $20 miners - have a single GPU inside that mines for them. People setup dozens and dozens of these so that they can mine a LOT at one time. The problem is, its like running dozens of computers non-stop. It eats electricity. And its not like idle computers, its like computers doing the hardest heaviest work they can (imagine your fan being loud and never stopping). But housing upto 19 GPU's in one system, the electric bill will still take a tole cause its still 19 GPU's running at once - but its not 19 different electric cords and units - so its still considerably considerably cheaper.
Is mining profitable is a BAD question. The problem with that line of thought is, as long as people have it, there will never be stability in cryptocurrency. The reason is because if every time the mining becomes difficult and less profitable people stop mining (or more likely switch to a coin that is more profitable) then effective no coin ever stands a chance at long term... because when mining stops - so with it goes processing the transactions.
Hope this helps in some small non-technical way explain things.
It does ty. And yeah I get ur point, that is what is happening to BTC and BCH right now. People switching betweent the two when it's the most profitable bringing a lot of harm to both.
Is it effective to mine with a decent gaming PC? I currently don't really game with it, just Steeming and watching videos and such, so nothing that really requires a lot. I am wondering if it be possible to mine while I do those things and if it brings any harm to the PC on the long run (or that it is even worth it).
Honestly I would say no one asking the questions you are should be mining - but the answer is yes it can be very profitable and it can be very worth it - but it can also be a complete waste of time and not worth it at all if you don't know what you are doing.
Its about finding the right coin, that has the right specs for the type of mining you are doing do. Its about knowing if you are better off doing CPU mining or GPU mining. It takes knowing if the coin is POW, POS, or Hybrid. It takes knowing the difference in scrypt, sha256, X11, X13, and X15 hashing algorithms.
Is it worth learning - yes. Is it worth doing before you learn - not in my opinion. So I would suggest to start, learn the difference in the the coin proofs, types, and hashing algorithms. When you do, you will be able to answer all these questions yourself - and I promise despite all the words and terms you don't understand - its not really that hard to learn. 4 or 5 articles on the subject should set you straight. Just look up the terms ;)
The thing is, I am not really that interested (or for that matter motivated) in that kind of expertise, I was just wondering if a newbie like me could use his computer to mine some while it's turned on anyways. But taken from your response I shouldn't bother :P. Actually those were my thoughts already, just figured I should ask someone that actually has some knowledge ;)
There are various ways you could use your computer for mining type activities but if you're not interested in the technology then I would say don't bother because unless you know what you're doing you would only mine a little and you wouldn't be able to keep track of whether it was making or losing you money.
I have quite a few mining rigs and they all make me at least $200 a month of profit, that has been up as high as $800 but I don't "need" them to do anything except mine what I point them at and because I love this technology and crypto I enjoy the process as well as the results.
Not sure why you would say that - My mining rigs make me more than many people earn in a full time job each month and they just sit there printing crypto for me 24/7/365