Hello. I have been thinking a lot about buying ASIC miners and start mining.
However, I have some questions for the forum members, that will give me a general picture of the mining process and how to make it efficient.
Furthermore, I think we could gain some insight on what most people do in regards to mining.
My purpose is to observe experienced people and see how they mine, so perhaps I can follow their instructions.
So my questions are:
1. Are you mining? If no, what is the main reason? I reckon financial issues will be the top factor, but let's see.
2. Are you solo mining or mining using a pool? Please elaborate on what kind of devices you use. Also, in case you use a pool, if you feel comfortable, share which ones you use.
3. Are you mining on your premises or are you using hosting facilities? If you mine on premises, how do you deal with the electricity costs and the noise?
4. (Leave every other note you have here - free text)
1. I used to, but not anymore because it's not profitable and higher rank Asic miners costs even more right now, I am waiting for new Asic miner before I go back into action.
2. Solo mining is like buying the lottery ticket, I don't recommend, I use popular mining pool.
3. I mine in a separate room where I live, I abandoned the room for mining only because it's not healthy to stay in the same room with degrees of heat everywhere, I believe using facilities comes to mind if you want to run many miners at once.
4. If one want to invest in mining I believe right now is the best time, because the price are better and it will increase once Bitcoin price starts making new highs, and profit wise will be way better than what it is today, a $2000 worth of asic miner can go up to $3500 or more in a bull market.