Bitcoin Forum

Should i start mining bitcoins? Do you believe that they will go up to $1,000+ a coin? Or should i start mining litecoins? What would you recomend for the most profit?

They would return around the same, but you wouldn't r.o.i. for a few months minimum,

BTC will likely go to $1k again but not this year.

Mining is barely profitable, you'll need good hardware and cheap/free power to get any returns on your investment.

Buy some Bitcoins and hold them, that's much better.

Do ROI math.  You need cheap electricity.  It also depends what your mining Scrypt, SHA , etc.

I personally think it is possible, but it is harder then it once was.   And your electricity and heat of location directly effect ROI.

most people on this forum say its a bit too late due to the high levels of difficulty.

i say just invest in something small, if you really want to know before dumping your money.

maybe it's not too late for some altcoins.. what do you think, is it worth for a newbie to invest like 200$ in darkcoin, dogecoin or blackcoin and hold? maybe too late for them also? then maybe some new coins recently released..

That depends on your circumstances and how cheaply you can acquire the resources that you need.


Ever?  Maybe.  It's impossible to know if it will happen in the next few hours, next few years, next few decades, next few centuries, or never at all.


I wouldn't, but you'll have to decide for yourself what you think about that.


Provide a product or service, charge a fee for what you provide.

Obviously : yes*.




*If you want to support the network , but if you  want  to be rich(to gain) the  answer is : no .

I think you would need some substantial amount of money by now, to get good enough bitcoins.

You can easily go to bitcoin charts and see the difficulty.

I think mining is not profitable now unless the price of mining hardwares decrease more
I beleive If btc goes to 1k difficulty will rise much too  :)

you can get 10 ghs by gawminers and have a taste of what mining is if you invested.

its a free giveaway, but not sure when its ending so Id look into that.

If you don't want to get into the whole mining thing, you can "Mine Bitcoin" in this new fun free game that pays you in bitcoin!

https://bitcointalk.org/index.php?topic=854956.0

 ;)

The easiest and most effective way to obtain bitcoins is to buy them. Try localbitcoins.com. If you are in the U.S, try coinbase.com or circle.com.

The more miners the better no matter how small you are mining just make sure you are profiting.

testing that free 10GH giveaway now :D

Dont overlook this advice, its important to stay in profit, like this man said. People wait for prices to jump, to break even on their investment but you cant see prices when it does go up or down.

Unless you're already a millionaire, no you shouldn't.

You shouldn't start mining unless you already have the hardware is it is able to cover your electricity plus some profit. And if you believe coin will go up to $1000 please buy BTC directly.

Calculate if your hardware will see ROI. The difficulty of mining bitcoin isn‘t sustainable for low end miners nowadays, only those with good hardware will profit from mining. You will just waste your money paying for electricity than seeing a profit in mining.

Just buy during the dips. Sell during the peak.

Calculate if your hardware will see ROI. The difficulty of mining bitcoin isn‘t sustainable for low end miners nowadays, only those with good hardware will profit from mining. You will just waste your money paying for electricity than seeing a profit in mining.

Just buy during the dips. Sell during the peak.

Mining is just a different way to buy bitcoins.  If you want "clean" bitcoins then mining can make sense.  Otherwise, unless you have free electricity you are probably better off just buying them if your goal is profit.  However, there are real benefits to mining, including learning more about how bitcoin works.

Good Luck!

Ming btc individually is a lose project right now. But you can certainly join some pool.

sure you can!!!
but be carefully with your hope about gains...

you can mine for passion to support network..

you can mine a little for playing

you can mine to understand well the bitcoin blockchain securing...

but you can not mine to have a gains... with BTC under 400$

It is not easy to achieve break-even in mining now. As others said, you should do your research and make ROI calculations.

Also, the bitcoin price doesn't really matter. What you should really compare is:
1) How many bitcoin you can mine by buying the miners or mining contract after fees, and
2) How many bitcoin you can buy directly with the money

ROI will always, I think, be achieved although it may take around a year for gains and they may be tiny by then.

Better off investing in btc directly and hodling for the future.

sure...
now  investing in btc directly and hodling for the future it is the better choise!!!
i repeat...

try to use one of the million online btc profit calculator with difficulty parameter and you will see who get a nearest ROI it is impossible...

but if you want.. you can try

hello, I'm new here but I know that the best way to get bitcoin actually is buying it in a exchange. Now is too expensive buy hardare to mine. :-[

u can try mining altcoin and then trade to bitcoin, maybe thats better for take a profitable.

Don't mine coins unless your electricity is dirt cheap ($0.06 per KWH or less).

Yes bitcoin will hit $1,000 again for sure.

Don't mine litecoins "for profit" --You'll get burnt fast.

Most profit is honestly buying some bitcoins now, keep the safe and wait.

I will agree with Lythos here, if you are going to go into mining bitcoin make sure that your electricity is cheap. Otherwise you might end up paying a lot and it might not be profitable for you at all.

i have the same approach...

mine for a few altcoin....
trade it
gain half or a few bitcoin...
start to trade bitcoin....

but you can do it if you already have trading experience or you risk to burn your coin so fast

The problem is mining equipment for each coin is specialized these days (unless you are using GPUs).

coin mining was a good idea 2 Two years ago :) now is much better just to buy and wait

Mine bitcoins as a hobby, or to support the bitcoin network.  Don't go hardcore into mining with the thought of profit in mind...  I would just buy bitcoin, that's the fastest way.  Then gamble it away. :P  If you want to use an exchange, I personally use ANXBTC, or localbitcoins.

Mining for profit is no longer the case for small miners. Big companies have a whole warehouse or datacenter of ASICs with cheap electricity and good cooling equipment. Mining at home is  not recommended since it is a fire hazard and will produce lots of heat. Unless you live in a colder region with cheap electricity, you shouldn't mine. If you want to buy ASICs, consider the risk. ASIC shipment takes some time. Once a huge quantity of ASICs get shipped, the difficulty would most likely increase much more than previous difficulty increase. Some ASIC companies delay the shipment time, by the time you recieve your equipment, ROI would be very difficult.

bitcoin difficulty is rising too fast so that most asic would go obsolete before making roi. the best way is to purchase btc.

If you have some money to invest sure go with bitcoin mining you can buy an s4 coupon on bitmaintech for less than 50bucks send your miner to Umisoo and you will profit after 50 days but for that you need around 900bucks, if you don't have money to invest and have a decent GPU go with litecoin.

Bitcoin difficulty did rise very fast in the past, but it is rising fairly slowly in the recent 2 months. Interestingly, difficulty is now estimated to drop slightly in the next change according to https://bitcoinwisdom.com/bitcoin/difficulty