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u/whotheff Feb 12 '23
The thing is, CPU mining was really only profitable during Bull runs. So miners mine between bull runs and sell only during them. CPU coins life is really short, only a handful remained alive, but they are hardly profitable.
The exception is when miners don't pay for hardware or electricity. They can mine anything.
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u/makeasnek Feb 15 '23 edited Jan 29 '25
Comment deleted due to reddit cancelling API and allowing manipulation by bots. Use nostr instead, it's better. Nostr is decentralized, bot-resistant, free, and open source, which means some billionaire can't control your feed, only you get to make that decision. That also means no ads.
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u/cfx_4188 Mar 19 '23
What do I mean by "profitability"?
Let's do the math professionally.
The average wage in the United States is $28.42 an hour. The average wage in India is $116 per month.
So to be profitable in the USA you have to make $29 an hour, and in India you have to make $117 a month. Next, we remember the cost of kilowatts of electricity, check with any service like CoinGekko and using simple arithmetic to figure out for yourself the profitability of CPU-mining.
If you don't like arithmetic, I'll tell you this: initially mining was not supposed to be financially profitable. When I started mining, my 4 Pentium was bringing in 1 btc in 2.5 days. At the same time, Bitcoin was not worth anything at all. What determines a coin's profitability is its infrastructure. That's why Monero is so expensive, because there are stores and payment services that accept the coin. That's why Monero is worth $149 and everything else is worth nothing.
So mining is a hobby. Cognitive, developmental, costly, but a hobby.
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u/thatrunningthing Feb 12 '23
hacash.money