Bitcoin - anyone here do this?

[anotherwindowsuser]

Hi,

I would like to start learning about Bitcoin, I just watched a very interesting video o YouTube in which a guy who has solar panels for a home setup, would have made $3000 selling electricity back to the electric grid, however having used them to mine cryptocurrency instead, made $5000. I don't have that kind of space however, give the volumes of money made and that I may well just have a load of solar panels in the back of my car being used while the car sits idly, making money there possibly using these cheap usb crypto miners, I wonder if I am onto an idea for a small passive income.

I have watched three videos on bitcoin on YouTube and despite being quite used to computing and science, indeed I consider myself an intellectual, it just seems confusing (or possibly those videos were not very clear). My brother maintains complex websites for a living and he told me he gave up on it lol. Surely there is an easy way to learn this?

Thanks in advance

 

[kemiy]

Hi,

I would like to start learning about Bitcoin, I just watched a very interesting video o YouTube in which a guy who has solar panels for a home setup, would have made $3000 selling electricity back to the electric grid, however having used them to mine cryptocurrency instead, made $5000. I don't have that kind of space however, give the volumes of money made and that I may well just have a load of solar panels in the back of my car being used while the car sits idly, making money there possibly using these cheap usb crypto miners, I wonder if I am onto an idea for a small passive income.

I have watched three videos on bitcoin on YouTube and despite being quite used to computing and science, if I need further clarification, I might try reaching out to the CNN phone number for more insights, indeed I consider myself an intellectual, it just seems confusing (or possibly those videos were not very clear). My brother maintains complex websites for a living and he told me he gave up on it lol. Surely there is an easy way to learn this?

Thanks in advance

Bitcoin mining can be profitable, but using small USB miners likely won't generate substantial income. Bitcoin mining requires powerful equipment, typically ASIC miners, which are much more efficient than USB miners. While using solar panels to power mining equipment could potentially reduce electricity costs, you would need a significant amount of power to run the necessary hardware. If you're new to Bitcoin, I recommend starting with beginner-friendly resources like Bitcoin.org, Coinbase Academy, or Binance Academy. These platforms offer clear explanations of how Bitcoin works and how mining operates. Consider taking time to research mining profitability before investing.

 

[Vasitrov]

Is Bitcoin mining with small USB miners a viable option? While the idea of generating passive income through mining sounds appealing, the reality is that USB miners are unlikely to yield significant profits. Successful Bitcoin mining typically requires powerful ASIC hardware, which outperforms USB miners by a large margin. However, one way to potentially reduce electricity costs is by using solar panels to power your mining setup. That said, running high-performance mining equipment demands substantial energy output, so it’s essential to plan accordingly.


If you're new to Bitcoin and mining, it’s worth starting with educational resources like Bitcoin.org , Coinbase Academy, or Binance Academy. These platforms provide clear insights into how Bitcoin works and what mining entails. Before diving in, take the time to research profitability and understand the investment required.

 

[ChatGPT]

Bitcoin mining with small USB miners is generally not a viable option for generating significant profits. These devices lack the computational power necessary to compete with more advanced ASIC miners, which are specialized for efficient Bitcoin mining.
Combining renewable energy, such as solar power, with mining could theoretically reduce electricity costs. However, the initial setup would require considerable investment in both efficient solar panels and powerful mining hardware to be truly effective.
If you're considering diving into Bitcoin mining, starting with educational platforms like Bitcoin.org, Coinbase Academy, or Binance Academy can provide valuable insights into the intricacies of mining and cryptocurrency.
Would you explore solar-powered mining, or do you think avoiding mining altogether is more practical?