Im loving these in depth bit axe videos. Very high quality content. You're either a natural at making content online or you have other channels. You're doing great.
Thank you! Yeah I'm a full-time TH-camr who focuses on tech videos about radar detectors, laser jammers, and dash cameras. Here's my main channel: www.youtube.com/@VortexRadar Bitcoin is another big passion of mine, but it's a very different niche than what my other channel covers so I started a new channel for this topic.
So, basically the BitAxe as 1/321th of a real BTC miner (notably the S21 you showed) and costs *15x MORE* than an S21 for the same hashing power. This is literally one of the biggest BTC scams *EVER* . Edit: If you think my numbers are wrong; a BitAxe 1.2TH unit sells for $199. A 200TH S21 sells for $4300.
Right, it’s not about bang for the buck when you need a display, WiFi chip, power connector, etc for each chip. It’s a great way to get your foot in the door and learn about mining at a fraction of the cost. :)
Anybody else using public pool for the solomining and notice all your bitaxe's not showing in their dashboard. I consistently will find at least one of my bitaxe gamma's not showing on public-pool but i can verify its hashing.
Hey, thanks for the video. I was doing some calculations today in the name of decentralization. But I think you can gather the statistics better than me. Considering the number of houses in the US, or in Brazil, where I live, and the 20 richest countries, if 10% of the houses run a simple Bitaxe Gamma, which works at 1Th/s, I think it can be significant for decentralization. Of course, we would need to consider more factors, like the demand for the chips and the growing industrial miners. I would appreciate and share a lot of videos like this!!
Foundry USA the biggest pool is 200+ EH/s which is around 30% market share. So total hashrate is around 700 EH/s. running 1 TH/s (so 0.000001EH/s) solo gives you about 0.0000000014% of market share, you have better chance to be profitable in any lottery there is. Now if you pooled everyone you mentioned and everyone runs 1TH/s that's a different story but then all rewards need to be split so you'd be losing money on electricity and network link anyway. Plus being a validator/PoW participant is all about availablity, you have to have maximum uptime 24/7 and very good grade of symmetrical network connection to even be considered in the PoW effort, so mostly this is very costly and very losing strategy. You have to run ASICs in DCs nowadays
Since internet connectivity is so ubiquitous in cars these days, and given how governments of the world are starting to hoard BTC, car manufacturers (and maybe IOT manufacturers?) should just have BTC nodes integrated into car electronics.
I love the idea of having nodes and miners distributed around. Give that nodes should ideally be powered on and online 24/7, it’d probably be better to integrate them into something that stays put in people’s homes, but otherwise similar concept. :)
@@VortexBitcoin Yeah, exactly! I picked Tesla, because Elon toyed with the idea years ago...dunno if that'll ever happen, but why not? Cars are so connected these days. Home appliances that're always on - especailly 'smart appliances' can easily run a node, and not take up MORE power. It's not mining, just a node. Refrigerators, especially tv's, consoles can even run a node when not gaming, etc! To avoid a 51% attack, more nodes is a must!
Awesome! I run a few Bitcoin nodes too. Thank you for your help with it! 🙌 I also feel a similar sense of wanting more nodes and have considered running some nodes and Bitaxe’s in my friends or family’s houses, lol. I wonder how many people run them at their work by their desk.
Well done! Keep em coming. Looking forward to your approach on connecting to pools. What tH would you recommend running before entering a pool in order to earn more than just double digit sats per day? Say I wanted to earn at least 500 sats/day. How much tH would I need to put into a pool to reap something close to that reward? Good things to consider addressing.
27.11. i got the brandnew Bitaxe Gamma now and i prefer ck-solo Mining 😋 ... do you like to do a setup video ? 28.11 Ive done it - its running with ck solo 3333 😅👍 ... but when i tried to update the firmware, i got error messages 🤔😇🙆♀️ ... 29.11 waiting for ideas and suggestion ... 30.11 today i testet to do this firmware update several times - suddenly Bitaxe Gamma has done the update 😅🤔 ... strange It would be nice to have the option to modify the difficulty .... Next open source projekt they should develop a BTC full node - Just add a SSD with 2TB and start.... 05.12.24 ... installed new Firmware 🤭 ...5x try ...
Question, what happens to solo miners when the last BTC is bought? (I’m guessing in less than a year) So being no more blocks, do this just become paper weights?
they will try to live on the fees (which will be tremendous), miners not only mine new bitcoins (block rewards), most of all they validate transactions, so they are and will be required for ever, but since the hashing speed will need to increase with each halving current hardware will soon become obsolete anyway. People that will benefit from the PoW are the energy companies actually
I never understand why everyone goes for the moonshot not the daily payout run multiple units and make a passive income as bitcoin become more scarce those Satoshi will go up
this is a great way to lose money, 1TH/s is irrelevant today, for pooling it might make sense but only if you have great network connection (symmetrical 1G for example), great uptime and cheap power
You end up paying more in electricity than what you generate, unless you have ridiculously or access to free energy. If a central entity takes $ per Bitaxe, this is a scam to farm you.
doesnt worth it - better buy BTC for 150 USD... even with this 16 Watt miners - they dont bring you ROI of this investment NEVER EVER...... its just a mess
All this little miners dosent work , its all a scam. If you read most websites who sell it it even say its only for hobby its not made for mine Bitcoin and making money. Its good for hobby or training if you really want make money in a couple of years you need heavy duty miners whats cost about 5000,- a piece and will cost you allot of electricity. But even big once dot give you any garantee you will make big money and cover all your losses , it can cost you years or even forever
While you can mine a bitcoin block and they do work, it’s super rare for solo mine a block yourself and these are mostly for educational purposes. If you think you’re gonna make a ton of money off of these and don’t understand all the actual benefits, I could see why you might think it’s a scam.
Im loving these in depth bit axe videos. Very high quality content. You're either a natural at making content online or you have other channels. You're doing great.
Thank you! Yeah I'm a full-time TH-camr who focuses on tech videos about radar detectors, laser jammers, and dash cameras. Here's my main channel: www.youtube.com/@VortexRadar
Bitcoin is another big passion of mine, but it's a very different niche than what my other channel covers so I started a new channel for this topic.
Bitaxe in a solar panel in the sun: 🔥
Great content about Bit axe. Thanks for sharing,
Thank you for making this series!
So, basically the BitAxe as 1/321th of a real BTC miner (notably the S21 you showed) and costs *15x MORE* than an S21 for the same hashing power. This is literally one of the biggest BTC scams *EVER* . Edit: If you think my numbers are wrong; a BitAxe 1.2TH unit sells for $199. A 200TH S21 sells for $4300.
Right, it’s not about bang for the buck when you need a display, WiFi chip, power connector, etc for each chip. It’s a great way to get your foot in the door and learn about mining at a fraction of the cost. :)
Why. Just buy $200 of bitcoin.
You’d literally get 5000x more bitcoin if you just buy the coin. 😂
@@mastermg4001 mining isn't just about the block reward, it's also about contributing to the resiliency and decentralization of the network
@VortexBitcoin Right, it's about scamming people. It's a great way to get your foot in the door of a dumb scam. Also lol @ lottery mining.
Anybody else using public pool for the solomining and notice all your bitaxe's not showing in their dashboard. I consistently will find at least one of my bitaxe gamma's not showing on public-pool but i can verify its hashing.
Hey, thanks for the video. I was doing some calculations today in the name of decentralization. But I think you can gather the statistics better than me. Considering the number of houses in the US, or in Brazil, where I live, and the 20 richest countries, if 10% of the houses run a simple Bitaxe Gamma, which works at 1Th/s, I think it can be significant for decentralization.
Of course, we would need to consider more factors, like the demand for the chips and the growing industrial miners.
I would appreciate and share a lot of videos like this!!
Foundry USA the biggest pool is 200+ EH/s which is around 30% market share. So total hashrate is around 700 EH/s.
running 1 TH/s (so 0.000001EH/s) solo gives you about 0.0000000014% of market share, you have better chance to be profitable in any lottery there is.
Now if you pooled everyone you mentioned and everyone runs 1TH/s that's a different story but then all rewards need to be split so you'd be losing money on electricity and network link anyway.
Plus being a validator/PoW participant is all about availablity, you have to have maximum uptime 24/7 and very good grade of symmetrical network connection to even be considered in the PoW effort, so mostly this is very costly and very losing strategy. You have to run ASICs in DCs nowadays
Wheres the part to discuss what your earn from these please? What kind of return do you get from pool mining ?
Zilch 😂
Since internet connectivity is so ubiquitous in cars these days, and given how governments of the world are starting to hoard BTC, car manufacturers (and maybe IOT manufacturers?) should just have BTC nodes integrated into car electronics.
I love the idea of having nodes and miners distributed around. Give that nodes should ideally be powered on and online 24/7, it’d probably be better to integrate them into something that stays put in people’s homes, but otherwise similar concept. :)
@@VortexBitcoin Yeah, exactly! I picked Tesla, because Elon toyed with the idea years ago...dunno if that'll ever happen, but why not? Cars are so connected these days.
Home appliances that're always on - especailly 'smart appliances' can easily run a node, and not take up MORE power. It's not mining, just a node. Refrigerators, especially tv's, consoles can even run a node when not gaming, etc!
To avoid a 51% attack, more nodes is a must!
Do you run a node at home?
@@VortexBitcoin Yup, sure do! I run a few full nodes on a handful of coins.
Awesome! I run a few Bitcoin nodes too. Thank you for your help with it! 🙌
I also feel a similar sense of wanting more nodes and have considered running some nodes and Bitaxe’s in my friends or family’s houses, lol. I wonder how many people run them at their work by their desk.
Only for mining btc is it worknfor dogecoin ?
Nope, doesn't work for Doge
Well done! Keep em coming. Looking forward to your approach on connecting to pools. What tH would you recommend running before entering a pool in order to earn more than just double digit sats per day? Say I wanted to earn at least 500 sats/day. How much tH would I need to put into a pool to reap something close to that reward? Good things to consider addressing.
So if you’re running on Braiins you’d need a little over 7 TH to earn that much per day currently.
27.11. i got the brandnew Bitaxe Gamma now and i prefer ck-solo Mining 😋 ... do you like to do a setup video ?
28.11 Ive done it - its running with ck solo 3333 😅👍 ...
but when i tried to update the firmware, i got error messages 🤔😇🙆♀️ ...
29.11 waiting for ideas and suggestion ...
30.11 today i testet to do this firmware update several times - suddenly Bitaxe Gamma has done the update 😅🤔 ... strange
It would be nice to have the option to modify the difficulty ....
Next open source projekt they should develop a BTC full node - Just add a SSD with 2TB and start....
05.12.24 ... installed new Firmware 🤭 ...5x try ...
Yeah I wanna do a setup video for sure. I like ck pool's stats, but I'm bummed that they started charging now to see them.
Sounds good but how do I mine BTC from my own node?
You mine from a miner, not from a node. If you run a local instance of public pool on your node, you can mine to your mode though.
hey can u pls make a video how to connect the bitaxe gamma to via btc for solo mining
solo mining with that little of hashrate is less profitable than a lottery lol
Just one question?
How much ot would take time to mine 0.1 BTC ?
Thousands of years. This one is for gimmick. Waste of money and only for the TH-cam guy to make profit of your sale with a ref link haha
@xenos289 Thanks buddy
Forever
😂😂😂
have you done videos for the better coolers i think ive seen people running the ice pi4 coolers
Not yet
Question, what happens to solo miners when the last BTC is bought? (I’m guessing in less than a year) So being no more blocks, do this just become paper weights?
I think you misunderstand.. BTC will continute to be mined until 2140
@Yechizzle yea, I completely misunderstood! Lol. Oops! You can't buy what's not mined...
The block rewards right now are mostly new Bitcoin and a little bit of fees. Eventually it’ll be mostly fees and then all fees.
they will try to live on the fees (which will be tremendous), miners not only mine new bitcoins (block rewards), most of all they validate transactions, so they are and will be required for ever, but since the hashing speed will need to increase with each halving current hardware will soon become obsolete anyway.
People that will benefit from the PoW are the energy companies actually
They wrap to Ethereum and that’s it
I never understand why everyone goes for the moonshot not the daily payout run multiple units and make a passive income as bitcoin become more scarce those Satoshi will go up
I want to buy a similar device for the script algorithm of Litecoin coins solo mining!
looking forward to future tutorials
Is there a Decentralized mining pool that you can recommend to use w the Bitaxe ?
Yeah I like public pool for solo mining :)
@ thank you - is ocean mining decentralized pool?
Is +49 sats = 49 satoshi's ? (what does the +49 mean?)
Sats are Satoshis, yeah
Awesome work!
Awesome vid!!! 🎉
this is a great way to lose money, 1TH/s is irrelevant today, for pooling it might make sense but only if you have great network connection (symmetrical 1G for example), great uptime and cheap power
where is part 3?
Busy with my main channel at the moment. :)
none of these comment to levers, seem to understand the purpose of this device🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️🤦🏻♂️
It's kinda surprising, lol 🤷♂️
You end up paying more in electricity than what you generate, unless you have ridiculously or access to free energy.
If a central entity takes $ per Bitaxe, this is a scam to farm you.
Right, it's not for profit. It's for education and supporting the network.
Dude, Vortex is now doing Bitcoin content? Awesome!
lol yup! :) Avid Bitcoiner and even at a Bitcoin conference this week.
This device lacks the same screen as nerdaxe device.
Yep! I'm looking forward to the upcoming Nerdaxe Gamma for that reason. :)
100 years to recover your investment lol . no thx!
You missed the point
@@TheZuluPilot explain
The only thing the BitAxe does. Is axe your wallet
I see no point on these things
Totally fine. Some people value learning about mining and contributing, but it’s not for everyone. Everyone has their interests. :)
Still pushing that decentralization myth, huh?
doesnt worth it - better buy BTC for 150 USD... even with this 16 Watt miners - they dont bring you ROI of this investment NEVER EVER...... its just a mess
Heh if you’re buying it to make money, you’re largely missing the point IMO. :)
In this economy bro @@VortexBitcoin
Seems like a waste of time and money
😂
Trash, just get a real ASIC
Those have their place too. :)
@@VortexBitcoin in the 🗑️. You will never ROI or a payout
All this little miners dosent work , its all a scam. If you read most websites who sell it it even say its only for hobby its not made for mine Bitcoin and making money. Its good for hobby or training if you really want make money in a couple of years you need heavy duty miners whats cost about 5000,- a piece and will cost you allot of electricity. But even big once dot give you any garantee you will make big money and cover all your losses , it can cost you years or even forever
While you can mine a bitcoin block and they do work, it’s super rare for solo mine a block yourself and these are mostly for educational purposes. If you think you’re gonna make a ton of money off of these and don’t understand all the actual benefits, I could see why you might think it’s a scam.