You need access to the lowest-cost electricity possible and deep pockets to withstand the volatility in hash price and to keep reinvesting in the most efficient mining equipment.
Just heard nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgpz4mhxue69uhkummnw3ex2mrfw3jhxtn0wfnszynhwden5te0wahhgtn4w3ux7tn0dejszxthwden5te0wdjkuerfwshxummnvekxzun99e3k7mgrcp7e2 say "you probably shouldn't mine #bitcoin, it's a very cut throat business" on the nostr:nprofile1qqsg2zqd8wkhpnxu6lm5c2dyfa2mhpwte57apjae2ldp6g2mmwf3ypqpz9mhxue69uhkummnw3ezuamfdejj7v5unzt podcast.
Can someone elaborate for me? What makes it a cut throat business?
Are you mining?
#asknostr
Discussion
Thank you, for sharing and clarifying that.
What about one of those #bitaxe miners?
Bitaxe are for fun, not profit.
Basically as someone suggested it like loterry and to just play with?
Exactly
curious if it's suitable for someone nomadic? I have no idea how it functions. would it work if one has only a lap top?
the bitaxe needs access to the internet via wifi so if you have periods of time where you can access wifi, you can setup your bitaxe to mine in a few mins with that wifi for as long as youve got thay wifi. it can get a little loud when turning on or ramping up the fan to stay cool, so something to consider too for sleeping and all.