[Discussion] So ... is anyone mining crypto currencies? (or folding?)

[donald]

Just curious with a few questions.

Is it worth it?

With the size and introduction of large scale and professional entrepreneurs with DataCenter sized infrastructure has the time to mine already passed?

Is this still something someone could do without dedicated hardware?

If you are running such a setup, it is profitable after your operation costs (Heat removal, cooling, electric, noise, space)?

How did you get into it? Did you run a prior distributed client like Seti@home?

Any thoughts on public distributed computing?




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[Uptorn]

Several years ago. But things have probably changed a lot so I'm probably not qualified to talk on the state of things today.

What I would like to share, however, is a general caution and a friendly reminder to use good opsec.

If you're mining, you're probably aware enough to know that buying on an exchange creates a paper chain to your real identity. So it would be a shame to acquire cryptocurrency in a private manner only to then create a linkage with PII.

I would never again use bitcoin and I consider it to be the beta test of cryptocurrencies. It appears to be surging again, with 2024 as another halving event, so many individuals will probably feel drawn to try it.

Bitcoin is fundamentally broken from a privacy perspective. One must manually manage different addresses to segment out transactions, which btw are all fully visible on chain to anyone and everyone forever.

If I were to dip my toes back into cryptocurrency today, it would only be with Monero. Or maybe anything that has implemented zero knowledge proofs.

Using bitcoin feels like walking around Manhattan with a sign on your back indicating how much cash is currently in your wallet and bank account, along with all of your purchase receipts for anyone to read.

[Hallvor]

I've been "mining" Pi on my phone for a couple of years now. It's less environmentally taxing compared to many other cryptocurrencies because it doesn't require dedicated hardware. Also, Pi has regular marketplaces where you can purchase everyday products, rent boats or flats, and engage in various transactions – notably excluding illicit items like drugs, guns, or hiring hitmen.

[jmgibson1981]

I used to do folding. I was to busy wasting my time with games to get into mining while it was profitable. Somewhere I have instructions for pxe booting folding clients via ltsp. But financially it's difficult to keep up with the power draw.

The big coin like Bit and Eth are out of range for small time crunchers. Now the only way is to join a pool. I don't know how much I trust that but it's hardly a return on investment unless you can really scale it up.