Ready to start building Dapps? Dive deep into blockchain development. Is Bitcoin a Minirig bitcoin miner Investment?
4 million, this article is based on false data. Mining Bitcoins may use a boat load of electricity, but there are profitable miners out there unlike Tim’s article claims. Bitcoin public addresses, and several charts and stats to help folks digest the complex and elegant solution to financial freedom that is Bitcoin. It just so happens that Tim choose the most inaccurate piece of data on blockchain. I’ll illustrate why in just a second. Bitcoin miners’ electricity use is quite high and miners don’t think twice about it. Well they start to reconsider when their profits are swallowed by electricity costs.
And respond by either selling their miners to new Bitcoin users who have caught the Bitcoin mining bug or decide to repurpose their miners for the highly speculative market of mining Altcoins. The rest of the info I present will show how truth is often in error when summarized by statistics and boiled down to one number. Here are some tables I whipped up showing the range of miners available to Bitcoin users with ASIC miners. I’ve compiled a short list of miners from companies who have or claim to have miners on inventory. They have been seen in the wild and mining happily while Bitcoin enthusiasts around the world cheer them on or yell at them for not just buying Bitcoins with their money.