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28 March 2024
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Bitcoin mining with the Commodore 64 is not feasible

A few days ago it was shown how you could mine bitcoin with a Commodore 64.

In fact, the software that allows you to mine BTC is actually quite simple, so much so that if you want it can even run on an old Commodore 64 from the 80s of the last century, with a SuperCPU of only 0.02 GHz. 

However, the fact that you can get that software running does not mean at all that you can actually mine bitcoin at a profit. 

That is, surely with such low computing power you cannot at all think of validating a block by yourself, therefore the only solution would be to pool with other miners. 

However, within a mining pool, the revenues are divided in proportion to the computing power made available to the pool, therefore making such low computing power available would result in such low revenues as to be negligible. 

Furthermore, the software used to mine bitcoins consumes a lot of electricity, so the tiny revenues that would be obtained would not be anywhere near enough to cover the costs of mining. 

Billions of years to mine Bitcoin with the Commodore 64

Someone did the math . 

At present, to be able to realistically obtain 1 whole bitcoin by mining with a Commodore 64 it would take 50,000 billion years, and a cost of more than a million billion dollars. 

The revenue would be worth approximately $ 55,000, so it would be an enormously loss-making business. 

Among other things, 50,000 billion years means about 18 million billion days, and dividing 1 BTC by this figure we obtain that every day the collection would be about 5 billionths of Satoshi. A Satoshi in turn is one hundred millionth of a bitcoin. 

Therefore, it would take 500,000 years to collect a single Satoshi, and its value would be about half a thousandth of a dollar. 

Therefore, mining bitcoin with a Commodore 64 is obviously infeasible, unless you have money to throw away. Buying BTC on any exchange would be enormously cheaper. 

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