Bitcoin Forum

Actually is mining bitcoin profitable?And what is the mining altcoins?
As far as I know, normal computer is not profitable to mine. Is buying a mining hardware helping to earn money?
What hardware should to maximize profit I use if I were to mine?

Simple answer:
If you got very cheap/free electricity, mining is profitable.
If not, then no! ^^

If you have only one hardware then i would say no.
If you have lots of mining rigs then yes, mostly a mining farm, but the ROI is just too long to be reached.
I don't know if you can reach the ROI by the end of the July next year because the block reward will be 50% less.

the free eletrecity into sha256 might give satoshis per day in small rigs but if you pay eletrecity and have then 1THs its very useless i dont advise to invest much go progressive if you have free and buy a miner hardware even a S5 ant miner or soo

one of the most questions around there :P

Profitable? depends, do you have free electricity? free HW? if you have some of them for free or really really cheap, then ofc this is profitable and you are a lucky man ;), if that's not your case, which is more than 90% of people ( more or less ) here, than i can suggest you to just don't think on it anymore :P

You can mine altcoins with the same equipment you mine Bitcoins and you can mine them much more than Bitcoins at the same time. The question is do they worth anything? There were hundreds of altcoins and only few of them survived.

The anwser is no it's not worth it.  You are better of almost all of the time mining BTC and buying some altcoins if you want them.   Btc just is the most common sha coin by far, pretty much everyone is mining it.

I don't think there is another sha coin that currently could get me to invest.   And if you look at nicehash you will see people are not paying huge premium so not really anyone doing sha altcoins.

that's is only true if you do not instamine and mine bitcoin, or other high diff coin

with new coin cheap electricity does not matter, it matter more how fast you're to grab a good amount of coin at launch

also there is to be considered the initial investment, which is very big if you want efficiency

It is probably not profitable to mine anything. To get profit, you would need a big space with low electrical costs and cool climate. Mining hardwares are  cheaper when it is obtained in bulk, which is probably not what a home miner could do. Alt coins could be profitable but the risk is really too high, there are many pump and dump coins around.

If you have VERY low electric cost (3cent/KWH ballpark), you can mine and have a good chance to achieve RoI on the S7 (and the upcomming Avalon 6) under recent conditions. It appears that the upcomming Lketc/BW.com unit might be even better (mostly due to lower projected cost), but the pricing on that one is still uncertain and availability is still up in the air.

 If you build it right and have fairly low electric cost (under 7c/KWH, perhaps a little higher), you can mine DASH profitably with a GPU rig (but the RoI will take well over a year even with 3cent electric, assuming recent conditions of DASH don't change).

 I've not done a calc on Litecoin lately, other than on my existing Gridseed Blades (which are a hair under break-even currently with 6.7cent electric, gonna be shutting them down once I hit my next payout from my pool). Anything noticeably more efficient like the Alcheminer (and clones), the A2 based miners, and especially Titans should be profitable at 10cent electric but RoI might be problematic if you don't already have the gear.

Chances of ROIing on a GPU rig are pretty slim  I think anymore.  The coins are just not worth enough to make a profit over electriciity where a substantial amount is there to pay off card's.   You might find a coin now and then to profit from but I don't see ROI happening.

The hope I have is Lketc/BW is cheap like it should be.  Not sure if this will happen or not, but it would be nice if they did.  Part of reason is bitmain has a track record of lowering to try to beat competition.... so good for miners.

So amph does the old-style "mine, dump, next" thing ;D

You forgot the part where they convince others to spend hundreds/thousands on raising the price of said alt-coin, only to sell off when price peaks and leave them hanging.

Much like investment advisors, they turn "Their experience, and your money" into "Their money, and your experience".

The problem is most altcoins are pump and dump so some make profit mining quickly then selling. Specifically sha256 there is not a lot good longterm altcoin.

And there is not a lot of new coin launches.  So I don't think this ill happen to often at all.  You can watch nicehash to see that it's not really worth it it's been running under BTC prices for a while.  It's currently around 5 under BTC mining amount.

There are way too many worthless altcoins already, what the world does NOT need is yet more coin launches.

I am mining and it is not profitable for me.
But it does absolutly not matter.
And I have paid the highest price for my U2
I have not wanted try with a second hand and I have prefered to have the garantee to return it if problems or I were unable to use it.

So now I do not regret to have it even if I'm in lost certainly for ever.

I propose the "comining"...so if you are a micro miner like me...comine with me and you will save the high fees for little withdraw.
Think about.

Actually it depends :-

1) Is electricity cheap in your country ?
2) whats your hashrate ?
3) Which coin you are mining ?

These are the questions that needs to be answered before doing mining

1) If you have cheap electricity in your country and electricity then yeah mining is profitable .
2) If your hashrate is pretty low or you are mining on your notebook with gpu and cpu cores then my friend its not profitable at all, moreover you will  
end your laptop with heating issues and may sometime lead to gpu failure . Go with ascii miner .
3) Also depends what coin you are mining , like new coins just settled up have a  low block reward so go with those ones who have higher block reward.
 

Stick miners are not for profit they are for fun.  It just cost's more per hash on stick miners.   So using a U2 really is not going to get you a profit.

But yes mining is profitable for many people still.  A lot were profitable at 230..... so at 330 per coin that is a hug bump in mining so many more are much more profitable now.

actually those altcoin, help spreadin the bitcoin among several users, instead of having few contorlling the most

for example without mining i would have been forced to buy bitcoin, instead tnx to mining alt, i've acquired a good amount of bitcoin

hm now price 1BTC=450$ and expect to go more up
where the price of the bitcoin starts to be profitable mining

There is no one point.  Mining is so individual we would need to know your information to know if profitable.

What is your electricity price?  And do you have a vat/income tax?   With those we can tell you a general idea, but always ROI math with a mining calculator you trust.  A lot are profitable at this point.

Mining is (for me) not profitable but fun.
it is why I propose to all miners like me to join my mining team.
Who can interested by my offer?
All new miners who mine less then 1000 satoshi per day can be interested.
For the one who have already mined and have already too much satoshi on their pool account are of course not...itll their mext payout.

Miners who mine over 1000 satoshi can also profit...but the profit is less or are juste paid more often.

do NOT give this person any of your BTC.  If mining themselves wasn't profitable, selling mining power to others would not be profitable for them, simple economics here.

Sorry you are wong...
why are you wrong?
because you have not read or not understood what I wrote.
you talk about BTC...I talk about satoshi
lost satoshi if you do reach not the minimum payout or if you reach it you have huge fees.

Then...please do not misinform people here with things you do not understand about.
Have a nice day.

If you do a "mining team" you likely would need to somehow escrow it where a very trusted escrow got the  money, and not you.  It is nothing personal just when you have "Warning: Trade with extreme caution!" beside name no one trusts you.

So if you want to do your idea get escrow for or else you likely will receive the same response you got above a lot.

I offer a service...
if someone is not interested or does not trust me...then basta...(lol)

We spoke about few satoshi:
situation #1
you mine solo in your pool...and you will never see your satoshi or you pay huge gees.

situation #2
you mine in my team and you will see the satoshi in YOUR wallet

And you would that an escrow is ask to manage all this stuff for few satoshi?

I'm giving you the honest truth.  Any deal even if a few satoshi will need to be escrowed with you with the tag "Warning: Trade with extreme caution!".  That tag no matter amount I think is going to require escrow on anything you do dealing with BTC no matter how much.

I don't mean to say it to be rude.  I was trying to help with post as I think you will see it would take a escrow for someone to work with you on it.

It's ok...I have understood you...
But it is not a deal...it is a service.
No trust = no service.

"A" offers a service
"B" gets the service
and you want that  "C" is escrow for free?
if "C" is not escrow for free...and ask escrow fees...then the fees are higher as the service is worth...(lol)


My "negative trust pointed" is a mistake...
I cannot correct the mistales of other people.(lol)

It does not matter if you offer a service or good it does not matter.  If the service has even small amount of BTC you will need escrow with your negative trust. 

And again I'm not meaning to be rude.  Until you get enough good trust or get those "mistakes" fixed.  It is going to be hard to do any business direct.

It's not a business...it's an oppotunity.

Please just stop arguing on this post. I asked that is mining profitable, not what mining pool to join.
BTW i live in South East Asia Region with electricity of 0.03 usd/kWh. I can live for two weeks in here with just 1 bitcoin. Does it worth it?

It is worth it if the climate is cool and you have plenty of space. You should start with buying used but reliable hardware from trusted seller at the computer hardware sections. Unless the difficulty skyrockets like crazy, you should see some good profits. Is the internet connection reliable?

The internet speed is average 400 kbps. Ok or not?

IMO, if the latency is below 50, it would be okay for medium scale mining. Bandwidth do not matter a hell lot as stratum does not require a lot of bandwidth. Latency is key as it takes time for the packets to be delivered to the server. Try to choose a mining server that is closest to you.