I was really leary about it a few years ago at $6000 per coin. One I let get away.
Tell me about it! Was here on DTV almost ten years ago when Bitcoin first started making the rounds. Some members were mining them if I remember correctly. Just didn’t know what to make of them and let it slip by too. Probably could have gotten a few back then for nothing…
Mining crypto is no different from mining precious metals when it comes to the value. The process is different but effort put forth for return on value must be similar.
I don’t need to explain mining gold so in a nutshell, you’re going to recover crypto currency using ASIC PC’s that look pretty ugly but are designed for this type of data processing. These things run hash rates up around 14 TH/s so they consume a fair amount of power and create heat.
With crypto mining your big costs are equipment and electricity. Electricity is the make or brake it. If there isn’t enough value in the thing you’re mining vs what it would cost you in power in your local vicinity, then you wouldn’t do it. If Gold were cheap then there would be a lot less people looking for it.
Same for my 1000 watts, lol…
Yeah. I started when it was rare and there was little support. Power was way too expensive compared to the coin recovery rate.
If only you knew they’d be worth fifty gees each back then!
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