BTC Hi guys/girls BTC
I own the website cryptominingtalk.com, which is a ressource center for miners. Mostly for altcoin and GPU mining, but I do have an ASIC section with relevant info for bitcoin mining. I do answer all questions, so leave a comment on the site if you are having trouble with mining.
I'm creating this post mostly for new people, but I've seen on reddit this question over and over again "should I mine with...". and the answer is almost always "no, just buy". I would like to take a small moment of your time to explain why this attitude is wrong and self-defeating.
Yes that user should buy and hodl. Yes that user should mine, even with outdated hardware. But not always, and in a very small scale. Why ? First off, he should mine at a small scale to heat a small room or heat the garage in winter for example. That electricity cost is replacing heating cost, so win-win. And second, most people got into bitcoin with mining. Its mining that is magic. It enables users to really truly understand what goes on in nodes, what goes on in blocks, how transactions are made, processes, broadcasted...It also enables the user to receive a stream of income (small) which makes him discover exchanges, bitcoin related services, paper wallets, hard wallets...All the things. It is mining that opens up bitcoin to the world. Take a teen or a kid, or a young adult. They may be interested. They have no large sums of money to invest. But give them a small miner and they will tinker, they will innovate, they will learn. They will use their imagination to improve on bitcoin. Value is created even when you are mining at a "loss". But please, only mine in winter for the heat
So remember, always support a fellow miner. Explain to him why he won't make as much money as he thinks, with difficulty and all, but show him the way. Telling him no, this is not for you, is like shooting yourself in the foot, you hodlers.