Bitcoin Forum

What would be the best setup to get started? I just wanted to know from anyone that has experience in this area.

No, bitcoin is not profitable in many countries like ( India )until you get some subsidies from government.

Based on how I have read information regarding crypto currency mining, you need to invest for high end units to mine crypto. You have to risk investing to get high mining rate and then recover what capital you had used for your setup.

I think you will find the Bitcoin mining sector is already heavily saturated by some very large players, much better to start off trying to mine some of the altcoins where you will probably get a better cost per time and electricity consumed.

if you can to manage it and you understand the mining strategy, then you will benefit greatly, especially if you have mining tools that support, the better the miner tool, the greater your income. even from some interviews with miners, his earnings reached $ 20,000 in a month. but if you are a beginner, then you better learn first about mining, then start with small mining.

It's profitable if you have good calculation about your rigs and the coin you are mine.
But, if you want to mining bitcoin, I think it's not profitable, because it have big diff.

The short answer would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors.

Mining bitcoin this days doesn't pay of unless you have really expensive rig, and all that is because difficulty is so high for mining bitcoin. But on the other hand mining altcoins could be profitable, if you chose good coin.
As far as rig is concerned, it all depends on how much money you have or are willing to spend. You can go and buy some ASIC miners (which i never used before), they are good from what i know but really expensive, at least from my point of view. On the other hand you can go for GPU mining, which could be cheaper and it could provide some earnings. To find out more about this topic, go to mining thread and you will find everything you need to know there. Hope this helped a bit.

I feel that this is a bad time to get into the mining aspect of crypto. Several years back, mining crypto was the primary way to earn coins and huge profits on a regular basis thanks to the low difficulty and less competition giving you more prospects of earning many coins, but the game has changed since then. The introduction of the ASIC miners has changed the game completely when it comes to bitcoin and several popular altcoin mining prospects. You need to do a lot of research(Electricity cost, initial setup cost etc) and decide which coin you wish to mine and see if it is profitable for you or not. Research is the key here.

No, buying Bitcoin is always cheaper if you understand what execution risk is. If not, google it.

try googling "mining calculator". tools such as this one: https://www.coinwarz.com/cryptocurrency are helpful with determining how much you are capable of earning through mining different cryptocurrencies.

the bottom line is, there is an initial investment for buying equipment (either ASIC or even simply GPUs and all the rest required such as motherboard, risers, power supply,...) and then there is the question of cost of the operation which is practically the electricity cost. and the cooling of it all which you may have trouble with if you are living in a hot area and it can cost more electricity.

For the short term, maybe the capital spent to buy mining tools still can not be covered. But for the long term, I believe the capital used to buy mining tools will be covered and we will benefit from mining.

But you need to know how to do it in the right way. Cryptocurrency mining is profitable but you should concern on hash power. You need high spec of mining tools to gain bigger coin.

Depending on what kind of crypto currency are you going to mine. If you want to mine bitcoin then you will need to have a huge amount of capital for the ASIC equipment and also for the monthly electric bill which cost a lot.

If you were to mine altcoin then i would suggest to you that you mine monero, ethereum and most coins who in the top 10 of coinmarketcap. They are much more easy to mine compared to bitcoin and the cost for mining rig will also be lesser.

Profit varies on what coin you choose to mine and the amount of money you will release as a capital.

In my opinion, digging BTC and other altcoins now may not be a good choice.
Because there are some southeast Asian countries have begun to limit mining such as started digging BTC and altcoin，Begin to digging needs to pay a certain cost to purchase these robot, and when you gain profits could's already half a year later.
Take an example: one of my friends took part in last year's mining BTC, in two months before he issued a sigh with emotion, if last  buy altcoin or ICO investment mining machine, so now returns may be ten times or more.

I quess that's profitable but not with every crypto, I know that some dash miners are disappointed, the equipment's price was so high, but mining is not profitable for today. Perhaps with the time it will change but now the it is paid off very slowly

The rate of return will be significantly higher for most people if they flat out invest and purchase crypto instead of mining. A very select few can make it worth it due to their equipment, location, and expertise. However, the average person would need months to make their rigs profitable, and in those months of time BTC, ETH, etc will likely be up by at the very least double digits.

For those who have mining equipment already it can be profitable. If you do not have it you will have great expences before you start to get profit.

owh .very profitable, do you know that there miners capable of generating advantage $ 25000 in one month? but I see mining only suitable for income long term. and for income short-term may trading better.

crypto mining is more profitable and earn more and and more bitcoins

I've heard it, that mine bitcoin or altcoin is beneficial. If you intend to mine it, you have to set up the hardware, and it costs a lot. Then you should be prepared also with high electricity bills.

BTC mining isn't profitable for the average person.  Personally, I'm fascinated by the possibility of getting into speculative mining of new coins that have just been released.  It combines some elements of mining with some research and gambling aspects of alt coin investing.  Follow @notsofast on twitter and start digging in deeper from there.

Yes, it is profitable. Mining in cryptocurrency means you process the transaction and verify it, so you are get pay to do that job.
if you have an advance tool of mining, you can gain more profit, but the tool is expensive.

Bitcoin is a great achievement of the genius of people, its product of global community and peace, the agreement to do it together, to live as one single whole humanity on the planet Earth

For bitcoin? not anymore if you can't invest tons of money on it for buying antminers. But for altcoin its better to mine that than altcoin.
Yep it costs a lot and that's what the miners are concerned of with the cost of electricity but I've seen miners who are also investing in solar panels which is a good long term investment too.

Each of us is very happy that bitcoin has appeared in our life and with it a crypto world, a new world which from the vertex rapidly enters the real, the invisible becomes visible

bitcoin is able to solve hunger problems in African countries

 With friends we are already waiting for the beginning of the cycle of growth bitcoin after 72 (80) days of bearish spring will come, in Japan sakura will spread and bitcoin will spread out.
 My multi language group about bitcoin and action coin where I'm helping by prediction.
      https://www.facebook.com/groups/actioncoin.ua/

Cryptoproduction is favorable, however now indicators small if to consider ICQ of s9 which maynit Bitcoin Cash in day it turns out to earn about $10 from one device, so a payback period of nearly 2 years. Another matter if not to remove the got profit, and to invest in cryptocurrencies which will grow up then, will be good profit. For this purpose time and patience is necessary!

I have a friend now, but I have not earned much money! It seems to me too late to begin to mine! It used to be interesting, but now there are big pools! Of course the question is: how much money? If there is a lot of money, then you can make your own pool!))) at my friend, at an investment of 20000 $ a month, earns about 1000 $! too long it all pays off!

Crypto mining can be profitable if you have access to cheap electricity. Check out mining profit calculator to determine whether it is profitable for you.

You can read more about equipment set up in the mining section of this forum.

It is still profitable today in some countries that has a cheap electric bill. There are some countries that has expensive electricity bill and it is hard to get ROI. Better use some renewable electricity to mine bitcoin but still needs a great capital to have renewable power.

You can also accumulate crypto-currencies for the future. Given the rapid growth, there is a good chance that the couple will be arranged for the year. In this case, you can get the crypto currency without breaking away from the main activity. You can be anywhere in the world ..

This crypto currencies are growth in btc.the mining profitable including digital currency system.the mining process of crypto Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors mining profitability calculators were invented.the investment should be crypto mining on share market profitable business from btc.Today Bitcoin miners those super powerful computers talked about in the system come with different rates in mining profit.

Until now bitcoin mining is still there, and I think it's very profitable. if not, maybe the current miners are few. I thought you could try it in the yarn mine. there are many things you can discuss.

You can search the 'mining' sections in the forum.
There are many informations about mining there.
but one sure thing is, mining cryptocurrency still have profits. i am currently mining some altcoins.

For now i can said mining would be profitable later because in last a couple month the price keeping down so there is a big chance for us seeing first big bubble in this year.

In some cases it is,a lot of early crypto owners earned it by mining but for now it's not so easy anymore as the hardware costs more but you can always try it.

There are a lot of factors involved in determining whether bitcoin mining will be profitable or not. Most important factor is electricity. In my country, electricity is quite cheap and thus I was thinking to start mining myself. However, when I started reading about how to do the set up, I realized that maintenance can be a tricky job for a person like me. I do not even have much time left regular job to read detailed tutorials related to setup and maintenance. Seeing these problems, I finally dropped the idea for some time.

Mining cryptocurrencies is still really profitable but you have to have free or cheap electricity. Otherwise it might take a few long months for you to get the money you investment in hardware back. Keep in mind that mining rigs generate a lot of heat. GPU ones are cheaper, cooler and more quiet but they are not as profitable as ASIC miners which are computers designed especially for mining with one specific algorithm. That's why they can't be used for anything else.