is it me or are these miners making bank?
bought 100$ in bitcoin , market charged 5$ , transfered to another person that network fee was 5$ fuck 10% gone
is it me or are these miners making bank?
[10 Points] throwahooawayyfoe:
[5 Points] bizshawn:
Transaction fees are a big problem these days. Same as with the transaction time
[5 Points] bebopx2:
Bitching about 10%??
[4 Points] FreshestNuts:
wow it's like ur first time!
[3 Points] thatnicca21:
especially on coinbase they undervalue the Actual BTC currency value on there homepage and then charge high fees on top of that, fucking crazy.
[3 Points] maywest44:
Geez, is that all you lost ?!?! Wow, lucky you ! No matter what method of bitcoin acquisition I use, by the time my money hits the market I've lost a good chunk of change - I've just always chalked it up to part of the cost of the dn ;)
[1 Points] DNrick_sanchez:
now they are if they have been establised i dont remmeber what pools still alive would have to check
1mb block size and they been full for a year we in a bull market,,
be ready for drop and buy buy buy btc
Some of them are, but only the massive and super-efficient ones. There are literally hundreds of thousands, if not millions of people who operate mining rigs around the world right now and the vast majority operate via public mining pools. The reward for each block found by a mining pool (the 12.5 fresh new BTC generated with each block plus the fees from each tx within that block) gets divided up based on how much hashing power a person is running and how many valid shares they've submitted during a block. Each share is worth maybe a couple satoshis, but that adds up quick depending on how fast your machines can process the math handed to them - so the more power you have at your disposal, the more money you're going to generate.
Bitcoin mining has always been somewhat of an arms race, with everybody trying to get the fastest and best machinery online the quickest. This so-called technological arms race has the effect of raising the targeted difficulty of the blockchain, and when the difficulty raises, the amount of time and processing power necessary to solve a problem goes up and the current machinery online becomes a bit less useful. At this point, ASIC chip circuitry has gotten so small and fast that the only real thing we can do at this point is make our machines less power-hungry. When the Bitmain Antminer S1 first came out several years ago, it could bring in over $100/day running at 200gh/s and at 1w/gh - now you would be lucky to make 0.01 BTC in six months with that and you would be spending approximately $1/day to run it. The miners that are making money are the huge solo miners. They own warehouses full of machinery and control potentially hundreds if not thousands of terahashes of super-efficient (sub- 1/10th watt/gh) power. With all that solo hashing power, they set their power to work on mining whole blocks and reaping the entire reward. The largest mining farms bring in millions of dollars in coin per month, but there are not many in the world that make nearly that much.