Is anyone mining, what's the latest hardware to use?

[AGTDenton]

Mining seems to have dropped off the face of the earth when it comes to general news reporting.

Just wondering if anyone still mines and what the latest hardware is to be used, or even if it's still viable at home.

[Kanoe]

Haven't for a while, last I did was ETH on my GPU.

I forgot I still had the stuff I had mined in a Wallet until last week and thankfully after 30 mins actually managed to get into it and transfer it to Coinbase, it was worth £150, defo didn't spend that on the electric to get it and had the GPU sitting idle anyway. Should have done more of it during COVID. Oh well.

[Trig]

I did a load of alt coins, which sat on Cryptopia, and we all know what happened there...

[Output]

I never understood the appeal of it anyway, it's speculative of only what someone else is willing to pay for it, with an underlying value of nothing because of there being no real value in what calculation it has solved to get the coin(s).

On top of that, the usual electricity prices in the UK would have made it unfeasible most of the time too.

It all boils down to just being a glorified pyramid/ponzi scheme rife with scammers and other criminals, with no (or very little) legitimate purpose that I can see, which the volume and regularity of this site's news stories would seem to back up.

It's a bubble that will inevitably burst when enough people realise how pointless it all is.

Folding@home on the other hand is something that actually has some underlying value for all the work that gets done.

[kalniel]

At UK prices I don't think it's really viable on dedicated hardware*, let alone with the baggage of a PC. However, some companies are setting up mining farms in countries with surplus renewable energy (and fossil :'( ) so you could always drop some investment their way if that was your kind of thing.


*https://nftevening.com/bitcoin-mining-cost/

[AGTDenton]

Folding@home on the other hand is something that actually has some underlying value for all the work that gets done.

I remember the Hexus Folding team when it all began in the early 00s but I didn't quite get it then.
Interestingly there are some Folding coins out there.

But yes I share your scepticism of the whole thing.

[Trig]

I've made money out of mining, you need a plan and need to stick to it.
I made the mistake, because I was dipping in and out quickly, of leaving my funds on an exchange, lost out twice because of that, but, over all I am deffo up, its paid for other toys so I cant complain.

Theres money to be made, but I understand the sceptism of many people..

[Percy1983]

Currently mining Monero using 4x E5-2695 v3 and 1x E5-2699 V3.

Ironically I don't like cryptos and and just see them as ponzi schemes but a situation has lead to this.

[Saracen]

The last time I did anything along these lines, and it wasn't mining, exactly, was back in the days of SETI. Why? I found it fun at the time, had the hardware to do well, and power wasn't so expensive.

Since then, nowt. As for cypto and making money, I just could never be bothered to get into it. I wouldn't criticise anyone doing so, because I'm working from a position of utter ignorance on how, why, the risks etc. I guess I got that kind of thing out of my blood with SETI, and haven't been intersed enough to even think about it since.

[Percy1983]

The problem with cryptos is on paper bitcoin sounded great, a distributed ledger running on many computers and as thanks those computers got a reward.

It started well with many people using spare computer time to make a little back. But then the miners where born, if i run 10 computers I will get 10x the reward which will then pay for the computers. Of course this then pushed into gpus and then asics. Add speculation and it becomes what it is today and completely out of touch with the original now with warehouses of asics burning electricity 24/7.