Bitcoin Forum

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

You should invest lot of money in miners to gain profit. Also electricity is expensive in the end of the month.. It's not only to buy miners and start mining if you know what I mean  ;)

There's a couple different sites that will allow you to estimate based on power consumption and price, and your hashrate (How fast you can mine, you can google each card to find out), how much money you can actually make mining. Unless you have a air conditioned room in your house dedicated to mining and relatively cheap electricity it probably won't be worth it. I heard some rumors about a guy out in Arizona who was using solar panels to power his bitcoin mining operation, pretty nifty if you ask me.

Only you can determine if you can mine for a profit. You can try Nicehash if you want to mine altcoins and trade for bitcoins. Otherwise, this is a Bitcoin forum. You will probably get better answers in a Litecoin or Ethereum forum.

Well.... Firstly no I don't think you should mine since you don't know what you doing you going to lose your money. Those miners cannot mine eth you use gpus to mine eth, so you just lost your money right there before you began. -_- Rather learn more about Bitcoin and eth and make a more informed and educated decision and then come back to us with a proper game plan.



Wow you and the legendary member below are the only ones who posted something that was helpful and made sense the rest of them posted senseless dribble.

thats true point. if you do mining for investment and will not sell your coins you can do but if you sell them you can't get profit for now.

As others said, if you are only looking into making profits, buying and selling alts proved to be more profitable after a bit of research into which coin you are investing in. Otherwise, if you have a strong initial investment you definitely could but keep in mind that you are entering in an already saturated market. People renting planes full of GPUs to reduce transportation costs for instance.

If you really want to, you'll have to decide which coin to mine which would generally be the one you see growing in value in the future. Look at GPU prices, their hashing power, and electricity consumption / costs. This website is pretty good to calculate all of that and check your profitability

https://www.cryptocompare.com/mining/calculator/eth?HashingPower=20&HashingUnit=MH%2Fs&PowerConsumption=140&CostPerkWh=0.12

Hope this helps!

Given the current price of the coins, it is quite hard for you to make profit...

More better try learn play poker tradind or exchange mlnlngno more Worth in this Day very small income gl in youre choose

If you can find a newer coin with lower difficulty it might be worth mining,
there are sites that automatically switch between coins depending on
profitability. But the main guys, BTC, BTCC, ETH, ETC, etc you would
need a lot more processing power than a couple of antminers are going
to give you.

I was looking for USB miners on Amazon recently, and I noticed they're
going for ~80 dollars a piece. I bought mine for 20 bucks, just because I
wanted to play around with it, more than wanting to actually make any
kind of profit. But if I sold now I'd make 400% my investment, which is way
more than I could have gotten mining Doge, imo

Mining bitcoins has always been a cat and mouse game. The difficulty goes up too fast that you’ll be spending all (if any) profits on newer/more hardware.Your best bet at making money is to mine the most profitable altcoin at that moment using gpu rigs and convert it to bitcoin/fiat daily. Just a newbie advice.

I think the first thing to start with is your budget. From that number you can then formulate the best course of action based on what you want to invest with. Unless budget is not an issue and you are willing to spend what is needed to reach your mining goal.

Mink1993 is correct. You need to continue adding hash power to combat difficultly. So in a month from now the same TH/S will not earn as much as the previous month so you will need to continue increasing your hashpower. That's why I prefer cloud Mining over solo Hardware Mining (even though I do both) because it's easier to buy another Terra hash than it is to integrate another hardware miner and power supply into an existing mining operation. Terra hash a day keeps the difficultly away.

Please note: if someone buys 1000 h/S of Moreno on Genesis with my code of 3% off I will
Do the same with their code. Code is "ZOHNkL".

PM so I can verify the purchase and make the purchase with your code.

should i start mining ?
the answer can be No and Yes.
everything is depend on yourself,what is your choice.if i was you i will think about it again because it's a long term investment,
you need to spend a thousand dollars just for buying a machine.
No
do not do this if you're going to mine top 5 cryptocurrency,
why?
because if you're mining those coin you should know how much it will be and how high the difficulty.
but,if you can afford to buy a high end or super hardware for mining then you can start to do it.
if you only can afford an average hardware the answer is NO.
Yes
why i said yes when before i said no?
you can start mining and using an average hardware,but you can not mine a top 10 cryptocurrency,
try to mine a newly born altcoin(obviously a good project and well development),
because difficulty and the price are not high yet,
many altcoins you can find in Alternative boards,and i found a lot of undervalued project out there.

so think about it twice

Note : if you're using 2 antminer l3+ it would be better for you to stop mining it,because it's not really profitable.
just buy it the coins directly and hold it,other than spending your money to those machine which is not really profitable in the long run

 In order to find out Bitcoin mining profitability you have “mining profitability calculators”.

These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit.

Before taking any decision or buying mining hardware, it is recommended to calculate the expected profit because not every coin will give you similar returns. Sometimes you might end up with low rewards as compared to the electricity cost so you have to be extremely careful while conducting mining.

I am involved with Bitcoin since 2014 and never mined any coin because I believe that mining is not everyone's cup of tea. I was about to invest in cloud mining sites but thanks to the senior members, they explained me in detail and it saved my money.

I've made the mistake of buying asic miners in the past and I feel that if I would have just spent that money on BTC, I would have been much better off. GPU mining is a little different since you can use them for gaming, video editing, or resell them if the coin does not become profitable.

Old ASIC miners IMO are like expensive paperweights if they don't see an ROI.

Beginner here. Does ASIC only fit for a specific type of coin?

In what country do u live? Electricity cost?
First - learn basic things.

yess you can mine with that... but dont expect too much because of that specs..
another is
africa example the electricity is cheap there .... if you are located in africa go and mine ...
the dificulty rises so fast and the algorithms and math problems takes time to solve ...
think of it first before you try...

There are many websites which help you calculate the cost and income from mining. You can input the type of coin, electric cost, mining machine hash power, etc., all these parameters and get the the conclusion if you want to do the mining.

study mining algorithms, difficulties, current trend and common sense about concurrency, then you will be able to make decision.

Best answer from my perspective! Thanks a lot!

B.D.

By the way, How much money do I need to start mining? Does anyone know, at least approximately?

Do not mine bitcoin if you do not have at least $3k to invest.
You can mine alt's with $1k cpu with good graphic card on it (included in price).

One altcoin mining rig have to have at least 4 video cards on board, cpu, PS, 4-8 ram, hard drive, motherboard. Do the math.

Ok, that is pretty much. But how fast it will be paid off?

Mine for your future. You won't be disappointed. Don't mine to pay all of your bills. It might be discouraging.

Yes and no, depending on your situation.  Mining has been a very profitable venture for a very long time but the best way to answer this would be to start out with a Bitcoin mining calculator.

I've made some calculation that if it worthed at the time that I started mining to invest in mining hardware/equipments or buying the currency itself.

In conclusion I have seen that it worthed more to buy the ETH or bitcoin rather than buying the mining rigs and take care of them every hour/day to see if it is working well, paying electricity, taking care of heat, any network fail etc.