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Thread: Crypto-Mining

  1. #1
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    Question Crypto-Mining

    This one seems to be off-topic,
    but I have found a browser which you can use to earn some money
    by mining bitcoins - it also seems to run on my android phone:

    https://get.cryptobrowser.site/6936209

    Hat do you think absolut mining?

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    Programmer schnaader's Avatar
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    As a matter of fact, mining bitcoins nowadays (without using specialized hardware) is too expensive, the money you earn with it will only be a fraction of your power bill. If you want to invest in Bitcoins, don't put effort into mining, but just exchange some real money for Bitcoins, monitor the exchange rate and sell them later. Though even this is questionable, since the big rate jumps seem to be over.

    The specific browser you found looks like scam to me, I would recommend to stay away from it. Also, mining bitcoins with a smartphone is absurd and absolutely not worth it.
    http://schnaader.info
    Damn kids. They're all alike.

  3. Thanks:

    Stephan Busch (13th June 2019)

  4. #3
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    Quote Originally Posted by Stephan Busch View Post
    Hat do you think absolut mining?
    To create that affiliate link you gave them probably access to your social media data.

    Most cryptocurrencies and exchanges are probably illegal and if not now then January 2020 when AML (anti money laundering) laws are fully active.
    Crypto industry must comply with AML (anti money laundering) and KYC (know your customer) laws and also local SEC (securities exchange commission) laws what make most ICO's (initial coin offerings) illegal.

    All coins and services who have anonymous options can not comply like Bitcoin core (lightning), Bitcoin Cash, Monero, Zcash, PIVX, Comodo, Zcoin, NAV coin, Horizon, Verge, Dash and mixers etc.

    You must pay tax over gained crypto value.

    Mining is mostly not profitable only with special ASICs and sometimes with GPU's when energy prices are round 0.05$/euro or less per kWh.

    If you still want to mine for fun at a CPU some (CPU mining) coins:
    Yenten (YTN) http://yentencoin.info/
    Electroneum (ETN) https://electroneum.com/
    Magi (XMG) https://www.m-core.org/
    Monero (XMR) https://web.getmonero.org/

    For Monero there are already ASIC miners, they go to change algorithm to RandomX as last try:
    https://www.prnewswire.com/news-rele...300861697.html

    CPU mining software:
    https://github.com/JayDDee/cpuminer-opt

    Mine via a pool.
    Last edited by Sportman; 13th June 2019 at 17:02.

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    Stephan Busch (13th June 2019)

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    I had a payout to my bitcoin wallet so it doesn't seem to be scam in this regard.
    Energy prices are horrible here - about 0.27€ per KW/h

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    Thought Germany had relatively cheap power. 0,27 Euro per kW/h is expensive, indeed.

    But where I live power costs are outrageous $0.52 per KW/h. Welcome to sunny Calif, USA! I'll not be mining any cryptocurrencies any time soon. The greedy power company sees to that impossibility.

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    Stephan Busch (13th June 2019)

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    Euro area electricity prices by type of user and country:
    https://ec.europa.eu/eurostat/tgm/ta...00117&plugin=1

    Ukraine 0.0393 euro per kWh.

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    Stephan Busch (13th June 2019)

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    Quote Originally Posted by Sportman View Post
    Ukraine 0.0393 euro per kWh.
    ... and we have to breath with this burnt coal, even worse from Poland ... http://www.buildup.eu/en/learn/tools...ty-consumption

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    Stephan Busch (13th June 2019)

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    $0.13/KWh here

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    Quote Originally Posted by Sportman View Post
    You must pay tax over gained crypto value.
    Bitcoin inventor Craig Wright wrote a good article about crypto tax today:
    https://craigwright.net/blog/law-reg...taxing-crypto/

    Maybe he check links to his article so he can see srle 64 can be a good and very fast compression for blockchain blocks:
    https://encode.su/threads/2136-Turbo...ll=1#post60580
    https://encode.su/threads/2333-Turbo...ll=1#post60454

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