Is anyone here mining Bitcoins?

66Tbird

Just wondering? I noticed a place that sells gold for BTC so I started researching the BTC game/gamble. Ended up buying an Antminer S2 a month ago and in another month it will have paid for itself. Learning curve is not bad, operating noise is up there, and the heat generation is up there too. I have the extra power because I'm over sized on solar. I just sweep the account daily into a secure private 'wallet' and convert to PM asap.
Here a neat page.
BTC mining performance

DrBuster

On of my college buddies got in on this a while ago. Turned a couple hundred basically into 50k if memory serves.

edit: Sorry, found out he bought some coins when they were cheap, he didn't mine them.

joefro

Trying hard. Nothing yet. Will update if status changes.

ricko

Have not tried it.... maybe I will investigate.... sounds interesting. Cheers, RickO

derryb

Might want to check out Mazacoin, may be some advantages to a US tribal digital currency that is home ported on a US indian reservation.

fc

I have been mining multiple different coins since 2011.

I am surprised an Antminer S2 could pay for itself in two months. That does not sound right at all unless you bought it for dirt cheap due to BTC price falling. Difficulty has been going up so fast and so consistently a lot of hardware will take ages to ROI.

Currently I am mining Litecoins.

If I had held every bitcoin I ever mined and sold today I would have 600,000+ dollars. But I did not hold them all. I sold as we went along and did very well. Not super crazy stupid well. Who would have guessed a single Bitcoin would reach 1000 dollars in such a short amount of time... I am still shocked people are paying 650 today.

I am not a true believer. Internet citizens are a fickle bunch and this software can and is being forked daily. Something will come along and replace it one day. I am sure of it.

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I have also ran a mining pool before and contemplated running an exchange until i studied the laws and startup costs.

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Right now I do not plan to invest on anymore hardware until the dust settles and I can see a longer term trend. I am sitting on the bitcoins and litecoins I currently have.

66Tbird

Glad to see another miner in our group. My AM S2 was an ebay buy at 2150 and after a pile of ebay bucks more like 2k. I've got no power bill do to a PV system. I'm using slush's pool and the rewards seems to pay out nicely. The jump in BTC from 400 to the current 650+ has put my current daily average to 38.80 after fees. We have had a really good run going. I'm not going more machines but I will go to a more efficient miner as soon as the AM S3 2Th/s upgrade kits come out. Flipping a few HOF golds should cover that. The two disciplines are similar in a way. Mining, flipping mining gear, and coins that is. Just that coins are gut feeling for me and mining is more statistical risk assessment.

CyStater

I wouldn't even know where to start research let along how to start mining. I'm still trying to figure out what exactly the "mining" is. I guess I'm officially old.

CuKevin

I have been mining a couple different scrypt coins (this means not BitCoin) including litecoin and doge coin for a couple months. Bitcoin requires too much money just to play and I think these two have the greatest potential right now. Bitcoin is also too heavily targeted by thieves and what not for me.

Someone mentioned forks, but I think many of the more longstanding currencies have done a very good job of preventing forks in recent history (I may be wrong, but I haven't heard anything).

For those wondering how to mine crypto currencies, I would suggest you look into scrypt ASIC miners. More affordable, RELATIVELY easy to setup (internet videos help too), and find a forum that's specifically targeted to a currency you want to mine. Many people are helpful. I was previously mining with a GPU (graphics card), but someone is helping me setup a GridSeed ASIC miner this week.