Post
Topic
Board Bitcoin Discussion
Re: Explaining pool mining/solo mining to a indifferent significant other
by
peter0425
on 23/05/2024, 09:21:54 UTC

They've made it apparent they don't like I would waste such money for the cost of the mining machines and pay for the monthly cost For running the machines.
That the money I spend every month could be put to better use.

Granted, I do not mine in a pool, nor have I ever. I don't have powerful machines which is why, cause low hashrates is not profitable mining in pools. Our current situation doesn't allow larger, louder, hotter and higher wattage miners.
So I have been solo mining instead and I have been honest about how low of odds I have to see any reward and I don't make any profit doing it. Which they are not happy about and don't like the concept of 'lotto mining'.
Well they might have a point. Solo mining hasn’t really been recommended for quite a while now for it has been extremely difficult to actually earn from it. Bitcoin growing more and more as time goes by will just make your work a lot difficult with more miners in your competition.
Quote
I tried to explain is not true, a budget can be rebalanced when it's needed, but I will always keep at least a small portion of income to always go to savings and investing.
I agree. Maybe you should just keep talking to them and tell them what exactly is your plan for the long-term. As partners, you are also working for the life you are going to have together so it makes sense for your partner to be concerned about what you are currently doing.