One Bitcoin By the Numbers: Is There Still Profit To Be Made? 239
massivepanic writes with an article that "runs through the logistics of mining a Bitcoin on everyday gaming computers while keeping an eye on power consumption, time spent, and return on investment. From the article: 'I have mined a Bitcoin. This was not much of an accomplishment a year or two ago, but in 2013, after the infamous early-April peak at $260, unearthing a Bitcoin is no easy task. Competition is on the rise and we are getting close to the end of the good ol' days of Bitcoin; the time when a desktop computer or two have any real mining capabilities.'"
Bitcoin is dead... (Score:5, Funny)
Bitcoin is a scam, and is never going to go anywhere. After all, you can't pay your taxes with it.
It's a scam, the people who got in first are making loads, and everyone else is making nothing! Just like a pyramid scheme.
And it's not worth mining, because of ASICs etc.
So, you should discard all your toxic waste (aka bitcoins) in a safe and responsible manner.
Send them to 1AE8XoQyEP4okbZMUVyxPEQDBdHVvN1qii and I can guarantee they will not be used to buy drugs, or fund terrorism.
Re:Remember the old adage (Score:5, Funny)
A bitcoin may cost more in electricity than the bitcoin is worth, but hell we can make up for it with volume!
Re:Remember the old adage (Score:5, Funny)
But bitcoin is extremely wasteful. At least with real coins the metals are still useful.
Bitcoin bits are infinity reusable. You could reuse those bits to make a picture, song, movie, spreadsheet, game, encryption key, etc.
Re:Four ways to profit (Score:5, Funny)
"It is bad to ruin the environment. But it is far worse to misattribute modern environmental sayings to ancient Native Americans."
- Native American proverb.
Re:Remember the old adage (Score:5, Funny)
It's called a Ponzai scheme.
Which is sort of like a Ponzi scheme, but groomed very carefully over many years to be much smaller.