Bitcoin Forum

Hi
i just wanna try it but seems a lot of work and difficult to get profit
so can we say that mining still profitable !? anyone get some extra money from this
what do you think about cloud mining ?

it depends on your mining hardware+quantity+ventilation+electricity bills but it would i think if you have lots of mines

Of course mining is still profitable but I do not think is still as profitable as it was before. If it is not profitable then we would have witnessed any significant decrease on bitcoin mining difficulty levels.

Personally, to me the most profitable now is trading. if you have good capital and you take your time to learn trading then you can make good money

Q.
How many fucking threads like this do we need?
A.
None.

Hey, people still need information, and it's our job to provide it to them no matter how lazy they are. :)

It depends where you live, cooling cost, and electrical costs. Don't mine with electricity above .10$ cents, and unless your electrical costs are below 0.05$kwh, don't use the s7. Cooling may also be a factor if you live in a hot area. Quality over quantity here, no matter how many miners you have, it won't work without a low electrical cost.

As others have said there is a lot of variables which can make it more or less profitable but as a general rule consumer end mining is not really profitable long term as hardware evolves etc.

its completely true, especially for electricity bills, if you can handle with easy then you can go mining but if not, then better not to try mining.  i think mining is still profitable but its depend only what coins you want to mining.

actually cloudmining was profitable earlier when the big site hashocean was in the bitcoin world . i made about 0.7 btc from this site but at last the site ran away and scammed many persons , so now after this site scam no one going for cloudmining .
secondly if you want go for hardware mining than it is also not much profitable .
( if you can find best cloud mining site which is trusted then you can make some profit )

if you are going for cloud mining then you can make some extra money but be careful first of all read all terms and conditions of that mining site .
if you will got return of your investment then rest of earning until the site run will be free .
it means it ie just a way to tak risk to make some money .

Aww... I also plan to try mining but because of my friends who did mining before they said that it's not worth it anymore. We are now planning on trading but need to do some good research first.

It always depends on your electricity and the miner you bough if you bough some miner that really can mine for example s9 this is really good but it's really good when it using electricity you can just get back your roi in a month or maybe more i think mining of bitcoin is still profitable.

To maintain profitability you have to know a lot about customizing your hardware.  Basically you have to have some very technical computer skills.  If you plan on buying or building some rigs be prepared to learn a lot if you don't already have these skills to maintain profitability.  One coin might be profitable today and not tomorrow so hedge your earnings across multiple assets to protect your ROI.  If you plan on doing it for a living, make sure to have at a minimum $150,000 in cash for equipment.  Consult an accountant about your governments rules or regulations on tokenized cryptographic hashing.  Aside from that if you just want to build a rig and do it for fun go for it.  Even if you don't make a profit you will learn A LOT!  Especially if you don't use Windows.

Cloud mining is a predictable way to earn money if your the one renting out your hashing power through a large third party broker.  Mining is not speculation.  Everything about it is quantifiable.  When I'm mining a given asset at a given time, all variables have been considered to ensure a profit.  To speculate would mean that there is a qualitative property to it.  With mining I know exactly how much my equipment costs.  I know exactly what it hashes at for different algorithms.  I know what algorithm is the most profitable at a given time.  And I know what I can get for my equipment if mining ceased to be profitable and I had to liquidate it.

Mining is a business and to be successful with it you have to have a passion for it because you will spend an enormous amount of your time learning and inventing new technologies in the process.  If you don't have the passion for experimenting with technology or like an ordinary schedule then mining is not the right business for you.

thank's for the replies
seems not easy and i should learn and prepare more better than wht i did

any legit site for cloud-mining !

Why don't you try atleast s9 miner if your electricity is cheap then you need s9 miner to start mining with bitcoin this is really profitable. But make sure that your electricity is more cheaper so that you could able to get your ROI that you spend with your s9 miner. Yes you can get some extra money when you already reach your roi. Cloud mining i don't think so that this is really profitable i don't too harsh when it comes in cloud mining but i really don't trust this kind of ponzi.

many company like genesis mining, hashnest, eobot, hashflare and etc, but i suggest you to try hashnest  ;D

hashflare is SCAMM!  And do not use Hashnest, before they are in sales S9 . With hashnest S7 you will lose your money.

So you think that you got profits because of the actual cloudmining? That is virtual mate. No such thing as real rigs used there. With lots of payments made by Hashocean they attracted more investors that's why the payment is cycled. I also got a decent profit there but not to the point to believe that they have an actual mining company. I just play with like in Scrypt.

To the OP, like you said it's lots of work then forget mining and just focus on other ways instead. Mining is still profitable if you are a big investors willing to take the risk and will spend lots of capital as an investment.

I'd also stick away from cloud-mining if I where you, they just don't remain profitable over time as the difficulty grows, this means you won't make back your money from these sites.
If you do want to get involved in cloud mining I would reccomend buying mining power and only holding it for a week or two before selling so that you get some bitcoin from the mining and hopefully get your investment back when selling.