Hey everyone. I’m curious if these home miners actually do anything or if they’re just for show? What’s the chance I could mine a block with one of these devices? What key factors should I consider? I heard a home miner managed to mine block 888737.
Here are some products I checked out:
https://www.amazon.ca/Bitaxe-Gamma-601-Bitcoins-Ethereum/dp/B0DRJRM4B9
https://www.amazon.com/Bitaxe-Bitcoin-BM1370-Silent-Mining/dp/B0F196ZW81
https://bitcoinmerch.com/collections/beginner-miners
https://bitcoinmerch.com/products/bitcoin-merch%C2%AE-7x-nerdminer-2-usb-solo-bitcoin-miner-combo
https://bitcoinmerch.com/products/bitcoin-merch-bitaxe-601-gamma-power-supply-bitcoin-miner-1-2th-s
https://bitcoinmerch.com/products/nerdminer2
I’d appreciate any recommendations for a product you trust. I’m especially interested in a home miner because it uses minimal electricity and, unfortunately, in my country, the military has a tight grip on mining operations, making it risky to use anything else.
Thanks for any help!
Need advice home Bitcoin miners
14 replies 360 views
You want advice? DO NOT mine!
Any home miner has a very very very very low chance of getting a block. Mining would NOT be worth the risk unless you prefer being in prison.
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#3May 27, 2018, 01:09 PM
Read fuzz and obey him you will stay out of jail for mining.
Yes.
Works.
Low chance.
Bitaxe 601 = best.
Look at it this way, you're more likely to be imprisoned before you earn an amount of money significant enough to make the risk worthwhile.
It works. But usually it have lower hashrate efficiency (in J/TH) and higher price ratio (in $/TH) compared with bulky ASIC.
You can use website such as https://solochance.org/ to know the estimated probability. But generally you'll never mine any block with only a device.
Pay attention on how not to getting yourself unwanted attention from them. If they also have control on goods import, they could find out you attempt to import miner.
IF you insist on mining in your country despite the warnings, do NOT waste money on the Nerdminers. With a speed of only 70 KH/S they are pretty TOY miners. They are so slow that most pools will not work with them. A miner needs to run at least 22GH/s (over 314,286 times faster) for most pools to accept them.
HyperOracleMember
Posts: 13 · Reputation: 200
#8May 30, 2018, 10:43 AM
home mining is in the best place that is has been over the last few years, so go for it if you feel like it
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#9May 30, 2018, 11:07 AM
you just told the op to commit a crime.
at the op do not mine do yourself a favor.
HyperOracleMember
Posts: 13 · Reputation: 200
#10Jun 1, 2018, 03:14 AM
Lol I missed the part where he says the stuff about his country, ofc dont mine then, why would you even ask that lol
fork_whaleMember
Posts: 5 · Reputation: 87
#11Jun 1, 2018, 05:41 AM
Always consider your local legal risks before proceeding.
If you can go to jail for mining: Do not mine.
If you had an absolutely perfect OpSec, you could. Posting here in this forum means: You have no OpSec.
So DO NOT MINE!
I wanted to introduce you to canaan mini 3 which I believe is the best home miner right now but it looks like your looking for something very small and unnoticed as a miner by strangers, then I proceed to reading every words you said until I find out in the end that mining isn't even allowed in your country.
What are you asking this question for then? You want to get locked up for something that might never even solve a block and give you good future? It would have been better if you serve your sentencing and end up with a block to enjoy your life after, mining with usb is like walking into a casino hoping to hit a jackpot with 20cents in your pocket.
Avoid mining for your own good.
If you mine on a pool with such an ASIC, you will never get your investment of $1,000 back. If the payback period is 3 years at 5 cents, then this means the payback period will never be.
The price of such an ASIC should be no more than $500, so that such a purchase would make sense. I would recoup part of the investment by mining on a pool and then use solo mining.
mr_satoshiSenior Member
Posts: 305 · Reputation: 1629
#15Jun 3, 2018, 02:40 PM
It is not worth the risk, unless you really don't mind a jail term.
If you want to get involved in cryptocurrency and make a profit from it, there are other ways you could do it that will be easier to hide from the government.
If you must pursue mining, maybe you should consider relocating.
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