Just out of curosity

[henry1111]

Hey have been going through old posts child boards arch..
I know that there are different miners with different rates
What was that one thing Antiminer S1 had that people buy
And bumps after Antiminers S1
Maybe I am going wrong somewhere but can someone please tell me the latest miner available/unavailable in the market

And what in the minimum cost to start a mining business with the latest upgraded infra ?
And which was the oldest and does oldest still work?
Is it a step wise step thing or something else??

[Mia Chloe]

~snip

The Antminer S1 was kinda a game-changer though as an early efficient ASIC miner it was one major reason people rushed into using it. Now I think the top wares now are Bitmain S21 and Whatsminer M60 series with really nice massive terahashes and energy efficiency. The biggest problem with mining is the competition for required hash rate to perform effectively and profitably on the network.
Starting fresh means a huge upfront cost honestly. Old CPU/GPU miners are totally useless for profit now considering  how much the difficulty on the network has increased. it's basically all about specialized, high-efficiency ASICs to compete.

Is it a step wise step thing or something else??

For me running a node currently is a nice move and basically an enthusiastic one per say but as for many I wouldn't put too much hopes except you wish to create a farm that will be part of a pool.

[Upgrade00]

Here you can see the different asicminers  and the potential profitability; https://www.asicminervalue.com/
You will have to factor in your electricity cost for a more relative result.

You can also check this thread; First time/Small miner reference for getting started. It's old but the information on it is still relevant.

Is it a step wise step thing or something else??

If you do not have a good capital you will not be profitable mining Bitcoin. Some recommend altcoins, but I do not know any worth mining or how straightforward it is to mine.

[Bitcoin_Arena]

Mining Bitcoin isn't something where you expect a quick return on investment. It's a long term business/investment as the hash rate keeps rising, and it requires you to love mining and Bitcoin in general. At certain points, you won't even make any profits.

You have to look at how much electricity costs in your area, space for the mining hardware plus ventilation/cooling of the miners, local laws regarding mining, taxes and maintenance costs.

Use this tools to discover miners that are popularly used as of now, their profitability and approximately how much you might need to start off, but it's definitely not a small amount.
1. https://minerstat.com/hardware/asics
2. https://whattomine.com/coins/1-btc-sha-256/asics

[hd49728]

Mining Bitcoin isn't something where you expect a quick return on investment. It's a long term business/investment as the hash rate keeps rising, and it requires you to love mining and Bitcoin in general. At certain points, you won't even make any profits.

Inexperienced and weak miners have to capitulate during hardest times of Bitcoin market and mining industry. They are not strong enough, don't have deep enough budget for surviving through market corrections or longer time of bear market, then unavoidably and consequently capitulate with loss.

Mining is not easy and if you feel it is too difficult, let's invest that is simplier and don't require many input resources. With investment, you can simply purchase bitcoin, use a non custodial and open source wallet for storing your bitcoin, and hold it a long time for profit.

Don't forget importance of wallet backups.
How to back up a seed phrase?

[Ruttoshi]

Gone are the early days when you mine bitcoin with CPU/GPU. Currently, you need to be fucking rich before you can go into mining because of the cost of specialized high efficiency ASIC, electricity cost, overhual cost and cost of maintaining the equipment. With all these put together, it's still not a guarantee that you will be profitable.

Solo mining isn't favorable because of the increase in difficulty target due to the increase of miners overtime. You need to join a mining pool and work with them whereby profits will be shared when anew block is mined. Save all yourself this stress and invest into bitcoin for long-term and hodli.

[Queentoshi]

And what in the minimum cost to start a mining business with the latest upgraded infra ?

From the little I know about mining, I know that it is a cost-intensive process and if you must get involved with it, looking for the minimum cost to set it up should not be in your question, you should have enough income to get the best equipment to make sure that your mining process is smooth and efficient because that is the only way you will actually be able to make profits from mining. If you have a small budget, you should explore other less cost-intensive ways to make profit from cryptocurrency.

[Mastercon]

It does have serious consequences for labour. it imo must be paired with significant mitigating measures to peg wages and middle/lower class assets and savings to the impending rise in inflation. Which as an action will actually exacerbate inflation further, requiring you to ultimately backstop your treasury bonds with aggressive tax policy on the rich or as I prefer backing of hard assets like Bitcoin. Bitcoin inflates, it's algorithmic inflation. and it could be outperformed by fiat for over a decade and I'd be still using it. In fact that's what I am explicitly prepared for out of concern for the next blocksize wars a decade+ bear market. 


I haven't heard you come correct here about much. You can identify the abuses of fiat and the use case of protecting yourself from fiat with Bitcoin. That's about the most I can credit you with. We only have a little window into who you are and what you think and to be honest a lot of what you show us is this kind of tantrum about irrelevant things like feelings.

It comes with being right about lots of stuff and having an extremely high degree of confidence in my awareness and intimacy with the context, the BIP processes and the specific BIP you are talking about, the author and their motivations, Bitcoin itself, as well as a fair grasp on the boarding subjects of linguistic language drift and currency denominations. I am arrogant. That's because I'm confident you cannot challenge my argument. And you haven't. You have chosen to focus on your hurt feelings and my refusal to empathize with you.

[JiiBs]

And which was the oldest and does oldest still work?
Is it a step wise step thing or something else??

The oldest traces back to the CPU/GPU which cost relatively nothing and that was when mining was mostly easy and very rewarding. When you didn’t need to put much in hardware and all you needed was a desktop computer hooked up to a network with electricity and you are good to go.
With over 3 halving a to have occurred and difficulty levels heightened, its only normal that these methods are of no efficiency in today or useless.

Now, you need specialized devices produced to perform powerful computations within seconds from ASIC to come by any luck in mining and even then, it takes time and results depends on how many you can get to operate a mining farm and it’s cost intensive as, you need a lot of power to run them.

The Antminer S1 always had common problems in terms of IPs not found, refusing to boot in low and zero hashrate which did constitute some problems as to why it had to be improved upon or changed.