We all know what BitCoin is. You know people out there that have spent a crap load of money on Devices for “Mining BitCoins”. The more systems Mining the harder it is to get any BitCoins and so forth. Use to not worth spit and I honestly had around 50 BitCoins in the beginning and spent them knowing it was only a fad and would be as worthless as Pogs. I think at the time a BitCoin was worth $2.00.
Well to my dismay the BitCoin was worth a truck load of cash like what last year? Now a single BitCoin now worth’s $3,894.67. All of these Farms are loosing money because it costs them about more to run the Farm then it is to make Money from it.
Typical Mining Rig Stats.
| Algorythm SHA-256 | Hashrate 13.6Th/s±10% | Consumption 1290W±20% | Profitability -$1.31/day |
Once again proving it in my mind set it’s only a Fad. I’m no economist or anything like that but when you have a currency that is worth more then the currency is in your own country and can be had by running a computer like device 24/7 then everyone is going to jump on the bandwagon and play. It’s like playing the Lotto and Drinking Slimfast.
Kinda feels like the Job Market a bit. A trade is in dire need and a bandwagon starts, now a trade that use to pay $20.00 an hour now only pays out around $12.00 an hour. Reason why I’m not in IT anymore, got bloated and the money wasn’t good anymore. Last IT job I tried out for wanted to pay me minium wage, strange hours and using my own car.
Anyway, BitCoin Mining isn’t worth it. It’s up there with SETI@home.
The IT Garage 