Just did some quick math...
At its max rated 3.8TH and a 1% pool fee, you'll mine 363,175 sats a year. At a cost of $900, that's like 3.2m sats... Will take roughly 10 years for ROI....
Discussion
10 years is a long time when you can buy some Bitcoin instead…
I’m kind of looking for a relatively low cost way to learn more about mining and generate some kyc-free corn, without eating too far into my smash buy capacity
I'm in the same position. I'd like to get into some mining as part of learning process, even if it's a bit of a loss. But 10 years is way too much of a rumway
I’m playing around a little with the “split shares” mining at mining syndicate which is, so far, a cheap way to learn more. It’s basically hosted mining and you can buy a percentage of a miner.
Not sure how I feel about renting miners. IMO a large part of running a miner (and the learning process) is understanding the hardware and configuring the software. I feel like if I just rent hashrate I'm kinda just throwing my money away in fees. Not sure if you feel the same but that's just my personal humble opinion.
Totally valid critique. This is my first exposure to mining, with a couple percentage points of a miner. Dipping my toes in with minimal upfront capital 😉
I still always felt there was value in asic resistant crypto like Vertcoin
Always felt more sensible to me. I’d love to get into mining but it’s hard to justify the investment
🤷🏻♂️
I disagree. ASICS are simply purpose built computers. The more hashrate, the more secure the network. The higher the global hashrate, the more difficult it is to 51% attack. ASIC resistant coins are simply putting an arbitrary cap on each miner's ability to secure the network.