Bitcoin Forum

I read everywhere that mining isnt profitable because of this and that

but if the price goes up mining becomes more profitable again- right??

I understand if i have a small mining rig and i only make lets say 0.001 BTC a day is maybe not much now but when the price is 50k/BTC this is a lot isnt it?

Bitcoin price - Difficulty - your electricity cost for running your machine.

These three things are where your focus should mostly lie in answering this question. Price is less relevant on its own. Price is relevant to difficulty.

If difficulty rises faster than price, you're in trouble without highly competitive electricity cost to stay on the network while others drop out.

Exactly what is ahppening now. BTC difficulty is rising faster than price. So you are better just buying BTC and holding now not speninding money on rig or electricity.

what the fuck it is !  >:(

The rig (I hope you meant ASIC, else you can get from faucets more than from mining) costs money.
The electricity costs money.
People compare the bitcoin price and electricity price NOW, not in the future.
If you want to make profit, it's cheaper to buy than to mine, because the mining costs money (what I wrote at start).
And that's why mining is not profitable.

If you compare apples with oranges, the result will be always confusing. And that's what you did.

No but the money you spend on power and hardware, can you buy more btc than you will mine? if that is the case, simply buy and hold the btc.
It's not about what you can mine now in btc, it's about can you buy more btc at present rate for the same money it would cost you or less, to mine it.

For me is profitable not directly Btc but lbry.

no because if price go up diff go up and you have the same scenario as before, you can't beat this, mining bitcoin is only for chinese gerk farm lol

Dont listen to all the ignorant people claiming that mining is not profitable. This is simply not true. It is not blanket profitable for any random person wanting to mine, there are always conditions that need to be met to stay profitable but to say its not is just stupid.

Main reason in our county is that electricity is costly . Land you may get cheaper but there would be electricity problem . Secondly , equipment purchase has an investment and may not be easy for everyone to purchase those costly machines .

mining is propfitable for those that have up to 0.1 cent electricity, but without proper scaling of your farm you will earn not that much

and you don't need a rig to mine bitcoin you need an asic, for the sha256 algorithm, rig are used to mine altcoin

for now there are asic for bitcoin, asic for scrypt coin, asic for x11/x13/x14/x15/quark/qubit, and gpu rig that mine everything but not so efficient for those algo that have asic

In my Opinion, Mining for me is still profitable  in some different places that has less consuming Electricty. Like it china, or other  that has cold places,iceland? greenland? i think. In some parts like here in Philippines, Its not really Profitable to mine bitcoins because of High consumed in electricity. For me, it depends on the location where you will mine and what equipment you will use, review   all  your future expenses. Study,Learn from it.

 It depends.

 For folks running RECENT enough gear with low enough electric cost, mining has been and continues to be profitable.

 For folks in high electric rate areas, mining has rarely been profitable if ever.

 If you're trying to mine with gear that's too old and inefficient, it won't be profitable.



 If mining was not profitable *PERIOD* I wouldn't have spent the last almost-a-year making a living from it - but I specifically moved to an area with VERY VERY cheap electric rates, and run fairly recent or newer gear that IS profitable to run.

If mining is not profitable, and you never make an ROI, then it doesn't matter whether or not the price of Bitcoin goes up, because you would have been much better off earning your Bitcoin some other way - you could have worked for fiat and converted it or done something which would earn you more - frankly, even a signature campaign would probably earn you more than mining right now with a small investment.