Post
Topic
Board Mining
Re: I want to Mine Bitcoin
by
ETFbitcoin
on 20/01/2023, 09:10:34 UTC
Then I don't know if the grahics card can mine? as far as I know it is not possible.
It's possible, but it doesn't make sense economically.
Well, situations are different. If you get old cards (with sufficient performance) and cheap electricity (or even free  Smiley) on the cheap, then there may be economic feasibility.

Not really. For example, AMD RX 6700XT has 2.2GH/s[1]. Using mining calculator[2], i fount you only can get 22 satoshi/month. Even spending your time for faucet or bounty task give you more satoshi rather than setup/maintain your computer.

Why not just mine alt crypto and convert them to Bitcoin? That's more efficient and saves you the hassle of hardware.

And you could also use third-party service such as NiceHash where you automatically get Bitcoin and don't have to setup mining software manually.

But as per the old tradition, such services slightly underpay profits (to put it mildly) to their users for using their capacities. Due to this, the profitability of their service is built. Also, there will be a limit on the minimum withdrawal amount. That is, in order to withdraw the bitcoin (of course, only a small part) you have mined, you will first need to accumulate a certain amount of them, otherwise it will remain on the balance of the service, like NiceHash.

That's true, but it's trade-off you must accept when you choose convenience. I also forget to mention NiceHash has optional KYC.



[1] https://bitcointalk.org/index.php?topic=5423041.msg61468260#msg61468260
[2] https://alloscomp.com/bitcoin/calculator