ETH, SOL, DOT are all wannabes – period. The only purpose they serve is hype and speculation (from Bitcoin’s transformational excitement) and pump and dumps. End of story.
ETH is a failed experiment by some young dude that thought he could “make a better bitcoin that does more things” and then sold a bunch of his eth FOR BITCOIN. “please standby, trying another upgrade to patch holes and try a fix experiment with your money – maybe next year”.
There is no actual use case for any of them period. “OMG ! I can buy a kitty cat cartoon or a human looking worm pic thing” that comes with a fee equal to a week’s worth of groceries.
You may be put off as I speak like this but I do not bs my way around obvious facts.
Sooner or later all alts are going to 0.
Lightning is so cheap it’s nearly free and can handle like 25,000,000 transactions per second.
Visa does 1500 and mastercard 5000.
A big whack of on-chain transactions (each it’s own LN channel open or close with perhaps a year or more worth of LN transactions in each one) can all be bundled together (starting in Nov with taproot upgrade) into one single transaction settled to Bitcoin (a totally decentralized secure network of energy).
You literally won’t be able to tell if a bitcoin transaction is 1 transaction or thousands of transactions containing thousands of transactions. Wrap your head around that power right there! Freedom and privacy abound.
Billions of dollars worth of commerce can be settled to Bitcoin for pocket change.
The race to “cheaper faster” is OVER.
Bitcoin is truly decentralized money and wealth storage controlled by no one. It’s time has come. It is rapidly expanding and eating everything in it’s path.
Most of these alt projects are where the scams, greed and tomfoolery exist. Don’t buy into the “complex promises” they make on their fancy project websites urging you to run and hurry to an exchange and trade your dollars for the “tech of tomorrow”.
For settlement, Bitcoin’s mempool is rocking, even at $63k and a flurry of activity, fees are low as they can go 1 sat/vB (virtual byte) to jump onto a block.
First screenshot is an estimate of expected payouts in dollars today mining bitcoin with 8 good Asics running 784TH in hosted facilities with cheap power. Totally hands off taking just a little rented rack space and zero time commitment.
The 6 cents KWh is the total hosting cost which includes power. Cost for the 8 hosted BTC miners I ordered from a USA based Bitcoin mining company over a few months totaled $47,200 upfront with a further $15k to pay off over 5 months next year. All in $62.2k. 6 of the S19j Pro 100TH Antminers were in a bulk deal bundle. Those 6 cost only $8k each. Profit = $261.60 worth of BTC today.
Mining bitcoin payouts with 784 TH and cheap power in a hosted USA facility.
Mining Ethereum Home GPUs Rig
Next is a decent prebuilt rig with 8 good GPUs and all needed accessories ready to plug in offering 950MH and power at typical American household cost of 12 cents per KWh mining ETH. These rigs require a steep learning curve to service and maintain plus lots of time and space somewhere in your secure home. They probably included about $10k in time value to the price so you could likely give up lots of time and source it all on your own and shave off 25% or so of the price. I used ebay and Cryptocompare.com for this. $39k cost for $70.45 profit today.
ETH mining rig at home with 8 high end GPUs providing 950MH.ETH payouts mining with 950MH and standard at home power cost.
This means someone would need almost 4 of these rigs with an approx upfront cost of $160k of hardware and time or 32 GPUs in some combination to equal the same payout in BTC per day. This isn’t even considering the hundreds of hours it would take to maintain and service them for the long run. Time is money.
I also am not a fan of most alt projects. Most are scams so why support them hashing out there cukkocoin or ravencoin or similar?
My mining with ASICs directly supports Bitcoin made in the USA.
I am Bitcoin.
I support it and invest in it and like for my investments of time and money to protect and secure it.
You may convert vertcoin, bubblecoin or whatever to bitcoin easily but that wouldn’t leave a good taste in my mouth at all. I want those projects to GTFO. Most Altcoins just pollute the space. The founders who profit most off your mining and creating those coins deserve nothing. Mining alts does not support Bitcoin. Actually I’d even say mining alts for the teams that created them only perpetuates the scammy bs in this space. You’re really just printing money for “them” in the end for a little slice.
Bitcoin doesn’t have a “them” team of scammers running it and profiting off of it.
https://grandpabitcoin.com/wp-content/uploads/2021/10/mining-bitcoin-asic-vs-mining-eth-gpu-5.jpg4921294Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2021-10-30 03:35:332021-11-03 05:36:41Bitcoin Mining Hosted ASICs vs. Mining ETH Home GPU Rig
I believe bitcoin mining will beat HODL over the next 6 months to few years. The math is simple and has smart money salivating for a piece. If you’re reading this then you are smart money. 🙂
Bitmain S19j Pro 100TH ASIC Bitcoin Miner
It appears to me there are many companies just now trying to put together big bitcoin miner orders with waitlists etc. In my opinion they may be late to the party. They’re way behind today unless they already ordered and paid for lots of miners.
I doubt there are any Bitmain s19j pro bitcoin miners sitting idle anywhere but on a plane for a brief period. These are among the most efficient miners in the world. Light one up and it literally prints BTC.
This is as big as the gold rush.
Large US institutions have already pounced and are setting up shop. They already have lots of big orders of 20,000+ miners in Bitmain’s pipeline so new orders will have to pay at current prices but may not see a single machine hashing until next fall.
Should I wait for a bear market to get miners cheap?
If this is your goal it would be wise to watch Compass’ hardware page. If a bear market comes current miners already setup will be unloading their machines there certified and for sale on their site.
The most optimum thing to happen with a plan like this is for Bitcoin to enter bear right now and crush all these big projects, the hopes and dreams of everyone in the game RIGHT NOW all smashed. You’d get some good prices on bitcoin miners if this happens. This is doubtful at the time of writing this where Bitcoin has recently reached new ATH and consolidated a bit.
If we spend the next 4 months going parabolic then everything changes and a single S19j pro will be $25k+ or god knows how much. Just my guess.
If the future bear market bottom is higher than or ranges around current price (low 60s) the machines will still likely be more expensive than they are today because they’re rare.
How can I compete with big mining companies setting up in the USA?
Many larger institutions have lofty mining goals but I imagine that its a headache with all the regs, permits, political maneuvering and all that entails. I expect large multi-month or possibly year long delays before many of the planned big projects actually light up. I’m trying to beat this with my own miner purchases this year.
The tech is evolving quickly.
There are also many projects being invented and some being used already where these same s19j pro miners are immersed in oil taking 95% of the heat and sound away.
Bitcoin mining energy is being used to heat entire towns, homes and pools etc.
Mining bitcoin is fast becoming the greenest use of energy on the planet.
Bitcoin Mining
Immersion miners, flared gas miners and new boiler tech are major game changers allowing Bitcoin to sit on a throne for the biggest driver of green energy ever.
Just get the machines as fast as you can is my advice.
The line is getting very long and starting to wrap around the block. Jump in line somehow if you can. When Compass Mining or similar lists a bundle they sell out quickly. You have to refresh their page regularly to catch.
I expect to be in the green (dollars quicker than BTC 🙂 quite quickly with mining. My calculations show this should take about 6 months. Then the remaining lifetime of each miner is all gravy.
How do I get paid from bitcoin mining?
For bitcoin mining payouts, most large pools pay daily to whatever wallet you provide. Larger pools sort of remove the need for luck. If you have hashpower you will be paid daily in BTC for it with top ups when luck does strike the pool.
Opportunity is now.
Right now and near term may be a once in lifetime opportunity really. By the time a possible bear market plays out many of the large companies may be hashing.
Run your own Bitcoin node.
Instead of trusting anyone to custody or convert anything just get your own node. You’ll have your own live version of Bitcoin running on your desk with your own keys and wallet.
After lighting up a node I have my own trustless bank I can verify with my own live on the fly version of the timechain.
The internet could go down entirely and only the miners and nodes would be left running bitcoin via satellites, ham radio and mesh networks.
What a grand time to be alive! I feel many are severely underestimating the future value of a single bitcoin. I agree with @PrestonPysh that 1 BTC in the future may hold the equivalent buying power of 100 years of salaries.
https://grandpabitcoin.com/wp-content/uploads/2021/10/should-i-mine-bitcoin-now-1.jpg4921294Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2021-10-29 18:35:262021-10-30 17:37:27Should I Get Into Bitcoin Mining Now?
It’s success isn’t tied to some apocalyptic scenario where the dollar and society have collapsed or anything like that. Bitcoin is already a success and will continue to do just fine without the world going to hell or the USA collapsing.
It simply works better for many things. For example, someone moved 1,000,000,000 dollars across the planet the other day trustless peer to peer using Bitcoin and the fee was $1.75 and it took around 15 min or so. Impossible with the legacy system.
1 BTC = 100,000,000 sats and 100,000,000,000 millisats. On the lightning network a single sat can be broken down into a thousand pieces which can shoot across the planet at near the speed of light carrying millions and millions of transactions per second. That capability alone will change the entire internet long term. (read about the new suggested Satcomma Standard)
I imagine in the near future that sats and millisats will be used for just about every transaction on earth and the value of just about everything on earth will be determined in Bitcoin sats. This will happen without grandma even needing to know how. It will just be.
For instance, how much time would you save in your life if spam was simply obliterated? If a few millisats is required to send an email there would be no more spam. If all transactions were ultimately settled on the “timechain” ledger then double spending – gone, much of fraud gone, many banking services – gone, the need to “trust” that your money will make it – gone, money printers that go brrrr – gone and much more.
Only fools don’t turn some dollars into bitcoin after learning about it. Freedom is a big component. The tech itself will change everything.
I’m nearly certain that those who own Bitcoin today will feel “very lucky” a decade from now for having discovered it before 99% of the planet becomes involved with it in their everyday life, mostly without even knowing it. By that time there will likely be an unthinkable amount of dollars attached to it using it in ways not even invented.
I think the near future contains “hash wars” between countries like the USA and Russia competing to mine it because of all this.
Do you have any thoughts on how Bitcoin will change the world? If so please share with a comment to discuss.
https://grandpabitcoin.com/wp-content/uploads/2021/10/bitcoin-will-change-everything.jpg6751200Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2021-10-24 16:23:242021-10-24 17:55:30We are the lucky ones who own Bitcoin.
It’s a tough position to be in when trying to time a better buy opportunity for an asset that just keeps going up.
Here is a cool Rainbow Bitcoin Price Chart to help identify buying and also selling opportunities for Bitcoin. It’s live and interactive. Rollover. Check it out here in a new window.
In my opinion Endor has the most profit potential of just about any current small cap cryptocurrency project in the world right now. $EDR is listed on Bittrex.
The Roadmap offers to allow private citizens and small businesses access to AI and big data predictions by 2022 that until now has been only offered to big giant corporations like Mastercard and Walmart with massive budgets and to militaries around the world currently using it to look at cyberattacks of various sorts.
Endor will change the world! Dig in and research this project for yourself. I’m not qualified to give financial advice but I am personally stacking EDRs this whole year as I have been since it came out.
For a while and during the lull in crypto over the last year or so it bottomed at like half a cent. Right now as I write this (April 2021) it’s up about 60% this month hanging around .07 cents.
The team is real quiet lately running and working hard on the project with just about zero marketing but I expect that to change very soon. When it does BOOM BABY!
It’s a gem in my bag.
I look forward to the end of 2022 and asking Endor a question and using some of my tokens to get a real accurate prediction. Imagine how that will change the world eh? Wow. People and businesses will be on the hunt for EDR tokens to use them at the “AI ORACLE” that knows all and can help them make cryptocurrency investment, marketing and business decisions. 🙂
Backed up with extensive research at MIT, Endor invented the “Google for predictive analytics”, providing businesses with automated, encrypted, instantaneous AI predictions, transforming predictions from generic to specific.
The World’s 1st DIY Predictive Analytics Platform
“Making cryptocurrencies more predictable and more profitable.”
“Today, our proprietary prediction technology finds patterns in human behavior using big data and artificial intelligence. We empower banks, retailers, and Fortune 500 companies like Coca-Cola and Mastercard with fast and accurate intelligence to predict consumer behavior, make informed decisions, and increase revenues.”
https://grandpabitcoin.com/wp-content/uploads/2021/04/endor-feature.jpg6751200Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2021-04-17 00:00:212021-07-02 02:20:38MIT’s Endor – Making Cryptocurrencies More Predictable and More Profitable
Born at MIT, Enigma has potential to reach incredible highs. I bought some at $1.18 each worth of Bitcoin on December 23, 2017 and the price rocketed over the next few days to $3.67! This is super exciting and just in time for Christmas! The weekend before Christmas, still going strong as I write this, Enigma took over and went into hyper-drive on the trading scenes worldwide.
https://grandpabitcoin.com/wp-content/uploads/2017/12/enigma-coin.jpg308778Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2017-12-25 22:58:012019-06-29 02:03:22Enigma (ENG) is Hot Right Now! Price Jumps with Catalyst for Traders
You want some. I want some. Soon everyone will want some and the price is surely to go up as Main Street becomes more and more aware of Bitcoin each day.
https://grandpabitcoin.com/wp-content/uploads/2017/12/buy-bitcoins.jpg8341280Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2017-12-03 16:38:252021-04-05 21:27:58How Do I Buy Bitcoins?
There are a few different methods to invest in Bitcoin. You can develop a Bitcoin investment strategy with reputable hedge fund managers, simply buy Bitcoin as an investment and invest in Bitcoin mining.
https://grandpabitcoin.com/wp-content/uploads/2017/12/invest-bitcoins.png8341280Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2017-12-03 16:37:272021-04-04 17:10:26How To Invest In Bitcoin?
https://grandpabitcoin.com/wp-content/uploads/2017/12/earn-bitcoins.jpg8341280Grandpa Bitcoinhttps://grandpabitcoin.com/wp-content/uploads/2018/01/grandpa-bitcoin-biggest-boom-ever-1.pngGrandpa Bitcoin2017-12-01 15:34:452021-04-04 17:06:57How Do You Earn Bitcoins?