Vitalik Buterin opposed mining on smartphones

Ethereum founder Vitalik Buterin does not believe that mining cryptocurrencies on mobile phones canproduce a profit.

According to him, “mining on phones – a game for fools" because "it confuses users rather than helping them."

The announcement that HTC Exodus smartphones will be able to mine XMR is more designed to attract potential customers to the system than to create a revenue opportunity. 

If you mine on Exodus every day for a year, the user will receive only $ 1.39 in XMR. Thus, with daily mining, it would take about 37 years to get a whole Monero token.

Given the current course of Monero, it will take 500 years of mining on the phone to pay back the money spent on the device (not including the cost of electricity). Not the best investment.

Subscribe to ForkNews in telegram.