Bitcoin Forum

I planning to learn bitcoin mining, but is it too late / not worth to mine bitcoin now ?

I think altcoin mining is more profitable than mining bitcoin because the difficulty level of bitcoin is so high so you need more powerful miner to get the enough rewards.ASIC miners is the only option to mine bitcoins and it needs big investment also.So you can do altcoin mining for example Monero is one of the best altcoin to mine because their mining difficulty is low so you can install GPU miners to mine monero and then you can trade your monero for bitcoins.

mining on asics is still profitable
about need 6-7months to get ur investment back
if prices will go upper period will be lower

Still having a btc is worth it , because you can used it in our everyday needs . The more u earn btc the more exciting to work it . Learning from friends  is better for us  like a newbie in btc!-!:!!

No nowadays BTC mining is not worth at all. If you are living in a area where the electricity costs are too low it would be worth, that too if you have high end ASIC mining equipments. In today's world BTC mining is more competitive and larger number of mining pools are opened and miners participate there to earn at least a little profit from mining.
Hence mining atlcoins are worth in the case if you have a good PC as it might be profitable. Instead of mining to earn BTC there are many more ways where you can earn BTC or other atlcoins and exchange them with BTC.
If you have the sole idea of earning invest in them and trade and get good returns as "Mining is not at all worth today unless if you are living in a area where cost of electricity is too low".

it is always worth mining bitcoin, and will always be that way. why do you think there is this enormous amount of hash power going into bitcoin mining? that is because there are a lot of people currently mining bitcoin from all around the world adding to that hash power. and with increasing price it will continue to be even more profitable for them.

but the problem is electricity cost. if you have an expensive electricity cost then you won't be able to make a profit out of it.

it's very hard to make a profit from bitcoin mining, unless you're a rich person who has a lot of money and can afford a lot of mining equipment, I'm sure you'll get a good profit from there, but if you're just an ordinary person who is trying his luck in the world bitcoin mining, I suggest you to mine altcoin like Monero or Zcash, because I think both altcoins are still profitable to be mined with a rudimentary mining tool ;D

I think for now more and more money people are looking for bitcoin mainly by way of bitcoin mining through the internet. so if you're just trying to mining the bitcoin it's too late and most likely it will be hard to get a profit when mining with bitcoin

Mining is currently not as profitable as before in my opinion if you do not invest in a big scale miner machines, on other thing is the cheaper electricity costs. Otherwise the investment will not able to pay itself.

It's never late to start working on bitcoin, either mining or trading. for mining you need a high performance equipment and a lot in numbers to successfully mine and generate profit from it.

Right now, mining bitcoin is need more powerfull rig and need more time to mining it, in my opinion mining altcoin like ETH or Zcoin will more profitable than mining bitcoin. because for me that coin has less difficult that bitcoin and right now have better price on the market.

I think it's too late to extract bitcoin. Because the competition is very large. This requires large and powerful farms, and most importantly expensive ones. So now it is better to master trade. This is the best way to earn bitcoins

is there any bitcoin or multicoin mining sites that deduct the transaction fees from the mined coins? or how come a fresher miner pay transaction fees if his wallet is empty ?

If it's only marginally worthwhile mining bitcoins when a bitcoin is worth US$11,000, what will happen if the price goes much lower? Won't the supply of coins go way down?

Yes you can learn to mine but i don't think it worth to mine the bitcoin because the cost for mining is more than what you will earn. So you can learn it but i will advice you to do trading.

There are some altcoins where the difficulty isn't that high right now . But it is gonna take a while to take your initial cost out i think.

Well as I can see with the bitcoins orice,its still worth it if you have already some of the requrements needed in mining but mining it will be very hard also because the prices are too high.

Mostly you have been advice to to mine altcoins than Bitcoin, and they are right. But I don't know what is the feeling in me that I can't stop mining Bitcoin now and then. You have the right to choose what to mine. Anyway what type of mining would you enter? ASIC or GPU mining are the ones that are mostly used. By the I am a miner too, and I used GPU mining.

It is still worth it to invest in ASIC miners and mine Bitcoin but it is not for all people, if you don't have enough money to invest in ASIC miners, it is too late for you. It is only worth it if you have money to buy multiple mining hardware and have extra money to pay huge consumption in electricity and also for maintenance. But what's good is that Bitcoin is not the only cryptocurrency you can mine, you can also mine alternative coins using GPU which have less power consumption compared to ASIC, I suggest that you use mining calculator before deciding which coin to mine so that you have an idea if it is profitable to mine a coin with your capital.

Bitcoin mining is too late because in current scenario altcoins is more profit for mining. So you should mine Ethereum or some other altcoins. Most of the miners are already invest in Bitcoin mining if you want to start mining platform before to think it take too much power consumption in mining rig. This is one of the decent profitable platform so you can choose better altcoin mining.

It's not worth anymore except you able find the efficiency cost  that IMO difficult to find recently.
As I know bitcoin is still expensive but if you're try to mine cheap altcoin, you may gain some profit from them but not in bitcoin.

~I prefer invest rather than mining, recently

There is nothing wrong in mining Bitcoins, if you have enough capital to invest. It is just like any other business venture. But at the same time, Bitcoin mining profitability has declined quite a lot recently.

Best and Top notch ASICs, super cold weather to minimize cooling cost and super cheap electricity could give you real business and would cost you huge to build a successful one that generates good speed of coins.

Bitcoin has not been mined on home computers for a long time. For its extraction, not CPUs or video cards are used, but ASICs like Antminer S9. Mining of crypto-currencies can now be regarded as investing money in a certain financial instrument with an uncertain payback, unclear expected profitability and non-zero cost of services. It's too late to invest in bitcoin mining, in the untwisted alternative currencies Ethereum and Zcash - most likely, too. Successful may be the mining of a new crypto currency, but here too one can not guess and not even discard even the costs of electricity.

yes, because at this time bitcoin is still not fully owned
and the estimate will be exhausted by 2040, if you have a plan to mine you immediately, because now the number of miners more and more.
You should also consider your resource factor, because mining is expensive, and the problem is the cost of electricity

Yeah in my opinion its best time to start mining or precisely its best month to start mining because after the sixth month this year we will see the same trend of increment in rates of bitcoin just like 2017 and you will be glad at your decision then.

why wouldn't it be. Bitcoin mining is still profitable for now if you consider your electricity cost, you may have a chance to make a profit if your electricity cost is cheap. The real thing to consider is Bitcoin mining is dirty, its contain a lot of CO2 emissions.

Well, In my opinion, Maybe you're not late but you missed some chance that you wi gain a lot of money and profits. Mining is good for every one. But mining is so expensive. It requires you to have a Computer, laptop or any gadget that has a high specifications. Mining bitcoin is good but mich better if you will mine altcoins. You will gain a lot of profits by mining altcoins then convert it to Bitcoin. You will gain a lot of money bitcoin you should consider your electricity cost.

Its still worth to mine bitcoin if you have good enough equipment for that. I doesnt worth to mine bitcoin with a laptop or pc,even if them are pretty good ones because you will lose more of the electricity and also your time. In order to get a good amount of bitcoin you need to buy a few ASICs and let them work all day long because bitcoin becomes harder to mine ans you cannot make profit in just a few hours. I recommend you to find a good altcoin that have a good pontential and mine it because it is a lot easier and the price of that coin could go up in a few weeks and you make a higher profit. Also, for altcoins you dont need to invest a lot of money because one Antminer S9 wich costs about 2000$ will be enough to mine most of the coins.

Bitcoin mining requires miners and very cheap electricity in order to be profitable. You can easily compare profitability on the internet.

 Bitcoin mining always worth . but its need a  lot of mining equipment also . try to manage cheaper electricity costs. Otherwise it will not profitable

     Well, if you take the time to study Bitcoin and how it works, then i think you will get the answer that you are looking for. Go ahead, try it. I promise you, with a little effort comes little rewards, but with greater efforts, then the greater the rewards will be. But hey, that's completely your choice. Oh well, just go and check your resources. Add them all up and subtract it with yiur monthly income in mining.  Doing so will make you see if you have gained profits or not.

in my opinion, it's not too late and still worthy to mine in bitcoin, because I believe the bitcoin price will rise again. This is because investors are likely to reinvest in bitcoin even though its price is still falling. I do not think it's a loss if we keep it down even if prices are down.

I think it's better to buy and sell bitcoin than mining bitcoin.

As long as you buy when the price of bitcoin goes down, you can make money by increasing your price to your satisfaction.

. It's never too late to join a bitcoin.

Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial-level venture. The easy money was scooped out a long time ago and what remains is buried under the cryptographic equivalent of tons of hard rock.I think only those with specialised, high-powered machinery are able to profitably extract bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered setups will find more money is spent on electricity than is generated through mining.

I think nothing is too late. Successful people always make good use of the time left. of 21 million bitcoin, left today is 4 million bitcoin, and this is your golden opportunity to get bitcoin. some people are already successful with bitcoin mining, I think you can be a part of them.

Mining bitcoin now is so hard nowadays. Its not worth it to mine bitcoin now here in our place because of high price of electricity. And its hard to maintain a mining pool.

I don't really know about the science of mining. but I think, mining is still needed. some of my friends do mining and earn enough in terms of profit. if you want to try, you can visit the boards of mining in this forum. there is a lot of knowledge that you can get to add insight.

What you need to do is to not just ask others for suggestions to help you. You should "do" it not just "try" it. I there's no harm on doing it now i is just that, it is still better you have invested years ago than today but maybe, bitcoin today may surpass its last best years.

For me it is still worthy there are still a price in bitcoins and they are still the most successful coins in all the cryptocurrency so they are still worthit because you can still gain money in them. That is the only reason why you mine bitcoins just because of the price and the profit they're giving to you. So if you are thinking that the bitcoins won't giving you much profit you are wrong they just fall a little bit in the market but it doesnt mean that they are falling entirely.

FOr me if you have a lot of money why not for me much better to invest in bitcoin or join bounty,gambling,faucets,trading with or without investment try it now don't miss it.

Bitcoin mining for this is still worth. For me, this is better than claiming in any faucet sites.

Bitcoin mining requires a lot of resources, a computer equpment that van accommodate large data and with that it will also require high consumption of electricity. Plus there are software needed for mining but if you think you have those equipment, mining would be good for you.

It is depend on your electricity, if your electricity is too high, it is not worth to mine bitcoin. If your place has a free electricity then that is a good place to mine bitcoin but of course you also need a capital for you to start to mine.

Yes, you can still mine bitcoin - it is late, but not late enough.

Generally saying, mining bitcoin is actually better - because no one knows what the future of Etherium mining will be if it moves to point of stake - which will perhaps raise the difficulty of other alt coins too,

BitCoin on the other hand can be minable with ASIC hardware that you can import from China at a fairly low cost - perhaps one 3rd the cost of a proper Eth mining Rig!

Do consider the electricity costs, the heavy really impossible to bear sound of the Antminer and the heat that it will generate ... but if you can manage all that then yes, BitCoin mining is still possible,

thanks,
Uttoran Sen

if you are at a planning stage, then research options like altcoins mineable with GPUs too. Bitcoin is currently not mineable with GPUs.

What you need to consider is not only the equipment cost (be it GPU rigs or ASICS) but the difficulty (both current and future estimates), electricity costs and obviously future prices.

There are calculators available that do the calculations for you and can tell you when in future you will have the break even point. Google them.

Too late for people who do not want to learn, anyone is able to take the opportunity then begin to work according to skill and skills.
Mining requires a large amount of capital, but it is very promising. Just do it today and do not delay it. ;)

Go to the site whattomine and count ROI Mining of various crypto currency. Bitcoin is beneficial. The downside is that asic miners have significantly risen in price after the new year. At today's prices, the payback period is 9-10 months. Before the new year, the period was 4.5-5 months.

STILL worth it for me since the bitcoin price little downtrend so miners are very lucky to have a big chance to earn much when price will continue to up like a bullet train.So mine bitcoin now before it will rapidly rise and increase its value soon.

For me it is still worth it to mine bitcoin if your country havea cheap price for electricity because mining rig would absolutely consume a lot of electricity. So it can be only profitable if your electricity bill is cheap.

Yes it is still worthy to mine 1 bitcoin with a high intrinsic value and have lots of different ways to use in bitcoin for a better life.

Since bitcoin price is low, it is the best time to invest and mine! There are still sites where you can mine free bitcoin.
You just need to be knowledgable. Do some research so you won't be wasting your time and efforr in mining on inappropriate sites.

Yes bitcoin minning is one of the best way to get huge profit from cryptocurrency and i recommend that you should go for a bitcoin minning because it still has a great value.

I agree kak, indeed this time is the right time to become a miner.
the problem is that bitcoin prices are still low. so we must take advantage of these opportunities to find the bitcoin as well as possible.
while still down can also reach the advantage when the price will rise again.

I never mined but I have a lot of ex-miner friend and they all stopped mining, started investing. They were complaining about extreme expenses of electricity, wifi, need to upgrade hardware etc.

I do not think it's worth mining BTC anymore.
I personally prefer daily trading, much easier and, if we exclude the risk, much more profitable.
Good luck BTC

Honestly, unless you're willing to invest a large amount of capital at once the profit would not be justified. Trading will lead to getting paments on a daily/weekly/ monthly basis whereas mining would be completely o long term so you cannot reap the profits at once.

In order to properly mine bitcoin you need a massive custom built rig or a super expensive pre made miner. Either way it will draw massive amounts of electricity. One business I know of needs a direct line so that they don't have brown and black outs from one of their custom built rigs. You also need to ensure that you can A.) Support your rigs regardless of the price of the coin with some other kind of income or B.) Calculate that the price of Bitcoin will rise in order for you to pay your mining expenses. When you reach this stage it can get very intense. On the flip side, you can do very low scale non intensive mining for a small trickle of Bitcoin and that is a happy medium for the average home user on various sites. Either way good luck!

Mining is still a good way to earn quite a lot of money but it requires many things such as cheap electricity, air-conditioned room, a lot of space etc. Also, people who are inexperienced with cryptocurrencies should not start with mining. Beginners should focus on learning the basics of Bitcoin. You have to have quite a lot of money in order to afford an ASIC miner designed for Bitcoin mining.