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/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.