Bitcoin Forum

I would like to know if its worths nowdays bitcoin mining....

I can invest right now 1k$ .

Do you recommend me to buy hardware or to make exchanges and take advantage from the sell/buy of BTC?

Thank you in advance!

if you are new to bitcoin mining then try you luck buying selling bitcoin, bitcoin price is dropping so it will hard for you to get ROI with mining at current price.

you could get two s5 from bitmain and the APW3-12-1600-B2 power supply from them you could get  2.3th/s with $0.10 per kwh you will see 1.2 kw * 720 * 0.1 = $86.40 power bill and at current diff and exchange rate will make $165.7. $79.30 profit. and cost $972.06. 972.06/79.3 given that it will take 13 months to hit breack even point. if diff and exchave rate remain the same.
i hope this helps

a year and a half ago I asked the same thing.

Many would suggest that you just buy BTC and with $1k you can get a little over 4 BTC. 

But I would suggest that you buy some hardware, even some older models so that you can get your hands dirty.  This way you can feel the pain that many have gone through and when the price of BTC goes up you can see that benefit as well.

....or you can do a combination of both.  :-)

Being here though is a good first step!

Welcome aboard and good luck!!

Hey, I'm interested in perhaps investing in mining, later in my life. I think I will be spending a few years in Guatemala, and from a bit of research, here's what I got.

Location: Guatemala. Here's what wikipedia says about it. http://en.wikipedia.org/wiki/Guatemala_City#Climate (http://en.wikipedia.org/wiki/Guatemala_City#Climate)
Electric price: $0.13 kWh
Storage space: I would say...  1m², or 10.8ft²
Running Time: Can you keep them up 24hr/day and have peace at mind? I would run them 24hr/day. I dont foresee any drawbacks from it.
Comfortability: I am physically comfortable with heat and fan noise. The tech, I would be kind of depending on the internet when it comes to setting it up and running it.

Hypothetically, I would have $2k to invest, could you guys help me with some kind of analysis? I would appreciate it.  ;D

One of main factors is electricity price.  You can find hosting centers a tad cheaper the .13 cents I would say.   So you might be better off buying gear and having it hosted somewhere.

And OP what is your electricity price?  And do you have a VAT?

I personally love mining and we have had really good luck with difficulty this summer.  Depending on certain factors it can be a good time for miners.

I'm in the US at the moment, I dont think we have VAT, or an equivalent. I dont know about my home, but the state I'm in averages at $0.17 kWh, residential rates. I was running numbers the other day, and I was thinking of running a solar-powered bitcoin rig, taking advantage of the fact that I'd be getting more intense sunlight there than where I'm currently at. I also happen to have the landlord's permission to rig solar panels up permanently. He's a very good friend of mine.

I was thinking of a combined investment of about $3500 in the near future (shortly after I move there), so it would pay itself in two or three years.

If i have 1k$, i will use for trading(make exchanges). Mining bitcoin is so hard now because the diff increase and don't forget to pay electric bills, but if your electric bills is cheap, why not to try mining bitcoin.


~iki

well i dont know your degree of need tof technology you can also invest in technology and knolage of mining but the easy way to profit its to do bussiness into trades and work into the markets and do not expose all the 1K into a big deal do small investmens of 10$ 0.05 btc max to see the reactions. if you wish you can even try buy a small btc miner with 70W to see theporfit and expences of mining and the 3 to 6 month roi but like i sais in my opinion do not go for the all 1K buy of somtheing do ssmall parts and safe for like 1 year

dont mine. learn more about BTC

https://www.youtube.com/watch?v=O0oDDIy0P2s

wouldn't bother mining now dude unless you want to do it as an expensive hobby or have enough $$$ to buy a shitload of mining hardware (and access to cheap or free electricity). maybe consider mining some alt currencies though bare in mind most of them end being worthless. personally I'd just buy btc and then maybe invest ~1 btc in alts

Ela re, ola kala?

You should invest in CLOAK...best profit in future!

Check the Greek Thread of Cloak:

https://bitcointalk.org/index.php?topic=998838.0 (https://bitcointalk.org/index.php?topic=998838.0)

What your basic skill,,?
Know your self before you do it

Mining is very hard to get profit with bitcoin price, diff and electric cost
and trading is not easy too you can double your money or lose and not get anything

no. just stay with bitcoin and learn more about it. after that you can take a look at Litecoin  ;)

When you investing 1k$ in BTC you get 4 BTC....
4 BTC is nothing!
To make nice profits you have to invest in altcoins which have potential in the future...
The best chance is CLOAK. Check the Thread!

Take that 1000 dollars and just buy bitcoins with it. You'll almost certainly lose your money or half of it on mining so it'll likely be a waste.

with 1k you can only buy 3 tera, which produce 0.036 per day, then you need to wait 120 day minimum for roi, it this worth it for you?

and i removed any maintnace fee or electricity cost  from that simple math, also i assumed no change in the diff, idyllic scenario...

the only thing you can do if 120 ays are too much, is selling your miners after 60 days, you should come out with a profit around 30% of your investment

I highly recommend NOT using your money for buying hardware and begin mining, instead, I'd suggest something like cloud mining.
Try researching cloud mining a little and explore that avenue.

If your current country electrecity's cost is cheap, you can try invest it on hardware.
But for me, it will easier to buy some bitcoin and altcoin directly into exchange and you can start trading now rather than buying hardware

You'd be better off cloudmining but I wouldn't even recommend that. Just buy coins with your money. You could try trade them but personally I would just hold them as an investment.

Its very hard today to earn something from mining,
you need poferfull miner and cheap electricity.

Better run some business with btc or try to trade

The risk is still quite huge. Unpredictable pricing and difficulty can be the main downside for this. Lots of space is required too.

Something most dont know about is that the initial income form mining will diminish very fast over time. That means your risk of not even getting your investment back is very high.

The reason is the difficulty of the blockchain, its rising constantly and makes it harder to earn.

If you want to get a feeling about how it works check out https://tradeblock.com/mining/ and see how long it might take.

Please take into account that you might get your hardware late or sometimes not at all. So you get fast into an area with no profit anymore.

Hey there Iordanis! Welcome to bitcoin and bitcointalk. There are several things you should know about mining before you start cosindering an investment. First of all, the difficulty is an importand factor. Depending on how big the mining network gets, the difficulty will rise. If it does, you'd be earning less bitcoins for the same mining power. You can use this tool to measure this: https://bitcoinwisdom.com/bitcoin/difficulty

One of the most efficient miners publicly available now is Antminer's s5. However, I wouldn't think of this as the ideal time to buy one as better miners are probably going to be released within 2015. Your goal of course would be to break even. If at any point your miner's electricity ends up costing more than it's earnings you'd be losing money. With that said, bitocin's price is also an importand factor. Mining can be risky, if you're just getting started with it, I'd suggest you spend some time educating your self on it.

Also, be careful of trading and cloud mining. They can be equally or even more risky. If you're going to go with cloudmining, at least pick a decent provider. A user here has created a list of those providers marking the ones that are likely ponzi schemes. https://bitcointalk.org/index.php?topic=878387.0

You're welcome. That's what the Beginners & Help section is for. :)

Trading?
You mean "buy low, sell high" like people make it sound so easy, lol.
Educate yourself first, or you won't have any coins to worry about, very quickly.

trading is like pure gambling because of pumps and stuff like that you can either win big or loose big