I've casually dabbled with crypto in the past but the fact China is where the large majority of hashing power comes from turned me off. Plus the NiceHash scandal. Always heard the rumor of China "banning mining" which in my eyes would just be the Govt taking control so all that hashing power can be used as 1. Which from my basic understanding would not be good for a blockchain.
I get it and I still use it.. Hell I'll probably mine on the desktop during the winter. I just personally wouldn't keep a substantial amount of money in it. I don't remember how much I lost since I'd xfer to a personal wallet but NiceHash left a bad taste in my mouth. I know people make a bunch hodling and trading but it's not for me.
You can use nicehash on a desktop that a 5 year old can understand. It sells your hashing power to mine various cryptos for people buying that hashing power. They take their cuts and pay you in BTC. I'd be better off mining those individual cryptos but I've never taken the time to learn how since what's viable seemed like it changed daily last time I took it serious.
Spez: And for me it's like $1/day profit.. but I'd rather run my desktop than a heater on a cold night and pocket a very insubstantial amount of BTC.
I've casually dabbled with crypto in the past but the fact China is where the large majority of hashing power comes from turned me off. Plus the NiceHash scandal. Always heard the rumor of China "banning mining" which in my eyes would just be the Govt taking control so all that hashing power can be used as 1. Which from my basic understanding would not be good for a blockchain.
Dude, I have been in crypto for almost 6 years... China always says its banning BTC and mining etc..but btc always stays alive.
Its simple capitalism, people want to buy and tx in btc, hashing will be generated in countries with check energy.
I get it and I still use it.. Hell I'll probably mine on the desktop during the winter. I just personally wouldn't keep a substantial amount of money in it. I don't remember how much I lost since I'd xfer to a personal wallet but NiceHash left a bad taste in my mouth. I know people make a bunch hodling and trading but it's not for me.
Can't mine BTC on a desktop. The difficulty is too much. I mean u can, but the chances you ll find a block are like 10,000 years or something.
You need dedicated antminers for mining.
Anyways, yeah I agree. Its a highly volatile asset, and as I always say "only invest in crypto how much ur willing to lose 100%".
Maybe like 5% of ur saving.
You can use nicehash on a desktop that a 5 year old can understand. It sells your hashing power to mine various cryptos for people buying that hashing power. They take their cuts and pay you in BTC. I'd be better off mining those individual cryptos but I've never taken the time to learn how since what's viable seemed like it changed daily last time I took it serious.
Spez: And for me it's like $1/day profit.. but I'd rather run my desktop than a heater on a cold night and pocket a very insubstantial amount of BTC.