Bandorr said:
I get the people at the beginning. I mean now. Why are people getting into it now? Video cards are at a all time high. I think you are getting "less" than you were before. Plus even if you join a group that just means you are having to pay a group fee (for electricity, rent etc) and only getting a fraction of the worth. Is there a new "coin" people are mining that isn't "bit"coin and thus are making a profit off that? |
Most people who mine bitcoin use ASIC's -- in this case, circuits specifically designed to mine Bitcoins, but some cryptocurrenices are "ASIC-resistant", which basically means the mining algorithm isn't designed in a way that an ASIC can be made to mine it more efficiently. So really the GPU-focus of the crypto-market has to do with lesser-known ASIC-resistant currencies becoming prominent than anything to do with Bitcoin which can be mined with ASIC's much more efficiently than with GPU's. Using an ASIC bitcoin can be profitable (after the large upfront cost), but you're not likely to make significant profits using a GPU with Bitcoin these days.
Last edited by sc94597 - on 23 January 2018
