is it still worth mining?

[franco123]

I think yes it is still worth it if you already have the resources. But if you are thinking of buying the parts needed, then you might get the return for a quite while. Im not saying the mining earning is slow today, but the competition grew already.

So in my opinion, if you are planning to spend a capital for mining, better yet invest it to Bitcoin. Because as all the Bitcoins are mined, the price then might spike up and demand will then be greater then the supply.

[dunfida]

Hi guys, I heard of lot of 3rd world countries are mining coins....

I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.

As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy.

[Scrappy Do]

Nah its not profitable for the "big coin" as there are warehouse of mining doing it, you can try new coins, they can be more profitable

 Another ill informed person giving terrible advice.

 See this post....

https://bitcointalk.org/index.php?topic=2288404.msg23342615#msg23342615

[chineseprancing]

Hi guys, I heard of lot of 3rd world countries are mining coins....

I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.

As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy.

Mining is a good source of bitcoin, however it was consuming a lots of energy so it's almost break even. Since bitcoin value are starting to increase their price in the market, more miners are continuing their work in mining sites. Therefore I'm sure that countries with cheap price of electricity are very happy because they can earn a lot of income daily.

[madwica]

Hi guys, I heard of lot of 3rd world countries are mining coins....

I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.

As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy.

Mining is a good source of bitcoin, however it was consuming a lots of energy so it's almost break even. Since bitcoin value are starting to increase their price in the market, more miners are continuing their work in mining sites. Therefore I'm sure that countries with cheap price of electricity are very happy because they can earn a lot of income daily.

Agree with you mate bitcoin mining is always worth it, there are also miners building an alternative source of energy to save some money in paying their electricity because mining site consumed huge volume of electricity everyday that is why alternative energy or solar energy in very in demand for the miners and also it was economic friendly. By doing that they can generate much higher profit every day/weeks and month of mining.

[KaliLinux]

If you have cheap electricity, maybe. Electricity at $0.05 per kilowatt-hour or less is ideal. Unfortunately it might be impossible to recover the cash used to buy the miner. I read an article where the money used to buy miners could actually get a higher profit if BTC were bought directly as the value of BTC rose. Therefore you might want to consider just buying the BTC instead of spending the time, money and effort trying to mine.

You are practically understood the process to make profits on smart way. As you said instead of buying miners and run with electricity cost. We can invest that money in multiple ways like in bitcoins and altcoins as well. Do you think we can't ignore mining for altcoins because am not sure how it gives you hands and it may helps to earn something. I hope you had a very practical experience and some impacts on mining. I will think about investment anyway.