In the past two months the value of bitcoin has dramatically spiked (and fallen and spiked and fallen), with a general upward trend in value. Many websites about cryptocurrency mining give a loud disclaimer that it is not effective to mine coins with your CPU/GPU. I was wondering if this is still the case given that the value of the coins has dramatically risen? Where before 0.001 bitcoin was worth 12 bucks, now it's worth 12000 bucks (I am pulling these numbers out of my ass, but you get the idea). So even just grinding away to get a small percentage of a bitcoin might still pay out a decent little bonus right?
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We have just seen that prices were drastically falling (+30%), so the math is a bit endangered. But yes, same as with paying for mining services, you may have the "investors" risk of winning or loosing. Btw: this question has the risk of getting opinion based, or being market value based. Maybe no clear answer can be expected.– pebwindkraftCommented Jan 19, 2018 at 21:51
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Taking Bitcoin as an example, a typical CPU is about 10,000 times less efficient than an ASIC (compare the Mhash/J numbers here vs here), so the cost to mine is roughly 10,000 times higher than the reward. In the last few months, the price of Bitcoin has maybe doubled or tripled from $5,000 to $15,000, which is nowhere close to enough. Check back when the price hits $150,000,000. Assuming the difficulty doesn't go up by then, which it will.
answered Jan 20, 2018 at 2:04
