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31 sats \ 8 replies \ @OT 22 Oct \ on: It's time to pull our own weight in hash bitcoin
It was disappointing to see how Antpool didn't lose much hash after finding out that they are bigger than they look.
I think it's a good idea to get a more powerful miner to heat your house, as long as you don't bankrupt yourself over it.
This is definitely the exact scenario I’m wringing my hands about now. I want to get the most efficient miner possible so I’m not constantly bleeding out, but that means a big (very big proportionally for my family) hit upfront. Right now I’m leaning towards the latter, but there’s a 100% chance at this point that I’ll take one of these two routes.
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Its usually better just to buy Bitcoin.
Your electricity bill is 3-5x these mining farms. The latest models are like $5-6k and use a lot of electricity. You can't really compete like that.
You CAN encourage more bitcoiners to get a little hash going that doesn't cost them too much. As well as buy and hole as much as you can so more of the supply is in good hands.
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…but that’s my whole point. If the network is secured by someone who’s an “adversary*” of the network, I would want to be holding as LITTLE as possible in that system, right? The investment in a miner is not to profit as a miner. It’s to secure my stash.
*the term this ASIC distributer used concerning miners’ relationship to bitcoiners
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Which latest miner are you going to buy? Its likely from Bitmain right? So instead of buying sats you give money to Bitmain and lose money to the utility company.
I think we have the same concern. I wrote about it here: 722910
We don't have to like them, but they ARE playing along.
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I certainly like the idea you present in that post about crowdsourcing an open source mining chip. Has anything come of Dorsey’s efforts there?
And I’m not thrilled about spending money on a Bitmain product, but it’s the most powerful way to push hash away from their pools, no? I’ve just spent too much time staring at a Bitaxe or similar solo miner sitting in an online checkout bin, not feeling like I can justify it for 600 Gh/s… I really don’t see one-hundred million other folks pulling that trigger.
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I think the open source ASIC chip is still in the works. Might be ready in a couple of years if everything goes well.
The second hand S9's or S19's might be a good start to heat your home. Like you said, it has significantly more hash than a bitaxe. Maybe do one or two so you aren't spending too much on electricity. In other words, your current set up is pretty good for home mining.
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Just starting to do research, but maybe you can bootstrap my education here. What are your thoughts on Canaan Avalon?
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