bitcoin mining with stacks

[NotATether]

if you want, obviously only if you want, you can share your experiment here and see like me to keep a sort of logbook so that we understand if it makes sense or not
I obviously do it to experiment and not to speculate, this sort of experiment makes sense to me because I learn things and I understand

I'm curious to know if it would be more profitable to mine STX and receive Bitcoin than to mine Bitcoin directly with an ASIC like the Antminer S19.

Let's assume:

- You have a favorable electricity rate
- You already have a good place to mine and don't need to spend extra on that
- You had somehow acquired the miner without paying anything, so miner price would not be factored into this.

So which one would make more money over the long term, I wonder?

[babo]

to mine with an ASIC you need electricity
while mining with Stacks is just a matter of stacking no differently than with ethereum, except that in this round, by stacking STX you don't get STX but bitcoin
given that it is an altcoin closely linked to bitcoin

[God Of Thunder]

Let's assume:

- You have a favorable electricity rate
- You already have a good place to mine and don't need to spend extra on that
- You had somehow acquired the miner without paying anything, so miner price would not be factored into this.

So which one would make more money over the long term, I wonder?

With a 0.1 USD/kWH price, your profitability with an Antiminer S19 pro is -3.05 USD per day. I don't think anyone will start mining with a S19 or S19 Pro. If someone is already mining with S19 and S19 pro with 0.1 USD/kWH, they may continue mining because they plan to sell it later when Bitcoin reaches 100K.

If your electricity cost is at least 0.04 USD/kWH, you will only be able to make a dollar and a half a day from an S19 Pro, which is not too much. But, as electricity prices go up and the mining difficulty increases, I don't think anyone will start mining with such machines even if they have cheap electricity. They won't be able to get a return on their investment.

[BitMaxz]

It seems an interesting project I was monitoring stacks the mining mechanism is Proof of Transfer but you can lock your stacks to earn Bitcoin.
We're late I guess Stacks seems was launch in 2021 if I knew this maybe I have locked stacks and opened them until this year.

Will wait for the opportunity to buy it for a lower price for now what I can see on the chart is that continuous price drops and no more uptrend.

[babo]

I found out that there is a token called stSTX

If you don't want to fiddle with a wallet and keep the STXs blocked and reward in STX
You can simply purchase the stSTX liquid token.
It corresponds to the value of STX revalued by all stacking earnings (currently almost 9% per year)


so you can earn or btc or stx
https://www.stackingdao.com/

[philipma1957]

Let's assume:

- You have a favorable electricity rate
- You already have a good place to mine and don't need to spend extra on that
- You had somehow acquired the miner without paying anything, so miner price would not be factored into this.

So which one would make more money over the long term, I wonder?

With a 0.1 USD/kWH price, your profitability with an Antiminer S19 pro is -3.05 USD per day. I don't think anyone will start mining with a S19 or S19 Pro. If someone is already mining with S19 and S19 pro with 0.1 USD/kWH, they may continue mining because they plan to sell it later when Bitcoin reaches 100K.

If your electricity cost is at least 0.04 USD/kWH, you will only be able to make a dollar and a half a day from an S19 Pro, which is not too much. But, as electricity prices go up and the mining difficulty increases, I don't think anyone will start mining with such machines even if they have cheap electricity. They won't be able to get a return on their investment.

At 3.9 cents a th A s19pro earns 4.29 a day burns about 75 kwatts so you need 2 cent power all in.   $1.50 cost.  4.29-1.50= 2.79 a day so at 300 a unit about 100 day payoff.

But who has 2 cent power all in.

[babo]

I discovered something special

then we said that if you stack STX you will be given a reward of 9% per year every 14 days in bitcoin
ok
now I discovered through a user, plutosky, that there is stakedSTX stSTX which gives you 9% in STX instead of bitcoin

ok you say, so what?
having this stSTX you can put it as collateral and withdraw whatever you want

[Bobcrypto]

This is the first time I'm hearing about this method, so I'll ask a very simple question - let's say I invest in 1000 STX and leave it in the wallet for 1 year, can it be at least roughly calculated how much BTC it is?

As for the price itself, as far as I can see, STX ATH was $3.84 on April 1 2024 and since then the price has drop 56.21% (CMC data). That somehow doesn't inspire confidence in me...

very easy
in practice the APY in bitcoin is equal to 9% of your amount in STX, STX like any other currency fluctuates in price, sometimes it goes down, sometimes it goes up
in the previous cycle it was around $0.76 if I remember correctly
therefore whoever took in the previous cycle is still in profit

being a coin VERY linked to bitcoin, it follows the price trend quite well

I understood you points, but looking at it economically, STX following Bitcoin trends will not maintain Bitcoin trends consistency, in terms of recovery, demands, the dominance  rates, hype etc.
Again, Bitcoin drives the crypto market, on the up or down directions. There has been no altcoins in the history of the crypto market that is able to resist Btc market dump effects. A 5% Bitcoin dump will send many altcoins to between 15% to 22% crash, and it has remain very difficult for majority of altcoins to recover after Btc dump, even STX coin may not have the strength to follow up with Bitcoin trends recovery consistently.

Now this is my summary, STX staking to earn Btc has similar risk with every other staking options, and if btc dumps, it results in more lost, though in crypto, you have not completely lost your assets except you decided to close your positions on the down trends prices.

[babo]

I'll close the thread then, since I've decided to put a stop to the experiment
it was very informative and I learned a lot from the stacks network, but I have decided to no longer keep that $100 in stacks stakes
there are other better methods, such as stSTX or giving them as collateral for loans.