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Title: How much BTC can be made with Mining? Post by: covs67 on April 05, 2014, 04:00:58 PM I am very new to bitcoin mining. So, i was just wondering how much BTC can be made with mining? Does mining bitcoins worth the expenses it demands?
Please i need advice from those who are already mining BTC and seeing huge success. Title: Re: How much BTC can be made with Mining? Post by: philipma1957 on April 05, 2014, 04:28:19 PM I am very new to bitcoin mining. So, i was just wondering how much BTC can be made with mining? Does mining bitcoins worth the expenses it demands? Please i need advice from those who are already mining BTC and seeing huge success. no one knows Title: Re: How much BTC can be made with Mining? Post by: philipma1957 on April 05, 2014, 04:28:45 PM I am very new to bitcoin mining. So, i was just wondering how much BTC can be made with mining? Does mining bitcoins worth the expenses it demands? Please i need advice from those who are already mining BTC and seeing huge success. no one knows to repeat no one knows Title: Re: How much BTC can be made with Mining? Post by: philipma1957 on April 05, 2014, 04:29:10 PM I am very new to bitcoin mining. So, i was just wondering how much BTC can be made with mining? Does mining bitcoins worth the expenses it demands? Please i need advice from those who are already mining BTC and seeing huge success. no one knows to repeat no one knows Long explanation comes next, So here goes if you have free power you will make a profit. If you do not have free power you can not make a profit at todays prices mining only BTC What do I mean by this. go to this calculator: https://bitcoinwisdom.com/bitcoin/calculator free power or close to free power http://imagizer.imageshack.us/v2/1280x1024q90/834/zio4.png paying for the power http://imagizer.imageshack.us/v2/1280x1024q90/513/xgc1.png Title: Re: How much BTC can be made with Mining? Post by: philipma1957 on April 05, 2014, 04:41:19 PM with free power . 20% diff increase and a 450 usd a coin you make money.
with paying for power 10 cents 20% diff increase and 450 usd a coin you lose money. I picked an ant miner s-1 over clocked to 200 gh burning 400 watts. Mining as I type for most of us is now a losing deal. The price of power power of gear vs price of coin make its a loser. Now if coins jump to 600 or 800 a coin things will look up. If coins drop to 200 a coin things will be worse. The wild card is fiat price of coin. if it jumps you will earn some money. Now many say just buy a few coins and if price jumps you will make money. even more then if you mine. they are correct (but only partially). For some antminers help lower heating bills during the winter. For some free power is available. These lucky people can mine a lot. Most USA miners will find mining very hard the next 5 months myself included. Of course i could wake up tomorrow and coins will be 1111 usd then mining is easy. Title: Re: How much BTC can be made with Mining? Post by: iglasses on April 05, 2014, 06:31:38 PM The answer is 21 million.
Title: Re: How much BTC can be made with Mining? Post by: ajw7989 on April 06, 2014, 01:50:40 PM The key to successful bitcoin mining currently is resale. If you can get the miner at a reasonable price mine with it for a few weeks then resell it you might be able to make a profit (probably small with the price of btc and difficulty). Like many others said most miners are banking on the btc price to go up significantly and are holding the coin (myself included) to make a decent profit. If the btc price stays the same or goes down another hundred profit will not be made on any personal miner.
Title: Re: How much BTC can be made with Mining? Post by: mocolicious on April 06, 2014, 06:31:14 PM Do the math. That's the only way you'll have a decent picture. Do the math of how much you will make at the current rate and try to predict what you think will happen with the difficulty (be on the high side)
Title: Re: How much BTC can be made with Mining? Post by: xstr8guy on April 06, 2014, 10:02:54 PM Mining can be marginally profitable if you make all of the right decisions. And if the BTC market recovers and hits new highs, then you can make a nice chunk of change.
But you will never get rich unless you actually design, manufacture and mine with your own devices. Title: Re: How much BTC can be made with Mining? Post by: XScrypt on April 10, 2014, 03:30:52 AM Mining can be marginally profitable if you make all of the right decisions. And if the BTC market recovers and hits new highs, then you can make a nice chunk of change. But you will never get rich unless you actually design, manufacture and mine with your own devices. This has always been true. In any mining rush those those that made the most money weren't the miners. It was the people selling the pick axes. :) Title: Re: How much BTC can be made with Mining? Post by: gentacomp on April 10, 2014, 06:58:18 AM The answer is 21 million. Right since TS asking how much bitcoin not USD LOLAnyway TS can open broswer like philipma1957 posted, and change USD to BTC. Try change GHS to 100 so you can do the math easier... Title: Re: How much BTC can be made with Mining? Post by: Equate on April 11, 2014, 07:00:18 PM It all depends on how much money you can burn on mining equipment
Title: Re: How much BTC can be made with Mining? Post by: HellDiverUK on April 12, 2014, 10:14:51 AM The answer is 21 million. Correct. There can only be 21 million bitcoins, and they must all be mined. Simple as that. |
