Bitcoin profitability calculator

[ehwwong]

Hi All,

As you can see, i am a NOOB.. so please bare with me..

So i am thinking of trying out mining with ant miner which have great reviews everyone. I tried to calculate my break-even point by using this calculator. http://www.vnbitcoin.org/bitcoincalculator.php

After entering all the values such as miner cost, miner g/h, power wattage etc etc. It seems that i can never break-even. If my understanding is correct, due to the increasing bit coin difficulty rate, with the ant miner i can never keep up.

So my question is, judging from results from the calculator, bit coin mining will never be profitable? Or am i doing something wrong?

Thanks for any advice in advance.

[odolvlobo]

Without knowing how the calculations are done, I don't know if they are correct or not. But I wouldn't be surprised if the Ant miner is not profitable. It is very popular and people are willing to buy them for more than they will ever mine.

My own estimate of profitability is that 1 GH/s is worth about 0.01 BTC (or about $6). If you pay more than that per GH/s you will lose money. I assume you are talking about the U1 which supposedly can be overclocked to 2.2 GH/s, so it is worth about 0.022 BTC or about $13. They go for about $75 (0.125 BTC) on Amazon. It's a money-loser.

Keep in mind that future profitability is a prediction and could turn out wrong.

[ehwwong]

Hi,

Thank you for your reply.

Actually i am looking at the S1 which they advertise for 180GH/s which means it's worth about 1.8 BTC? They are currently asking for 1.438 BTC.

OK, i will bared in mind that prediction is just "prediction"

Thanks!

[serje]

You just have too remember that difficulty is going up and the bitcoin price may go down

if you want to mine and hold all the coins for a few years then yes go for it and if the price is goind up by a lot then you just made yourself some nice money

but if you want to break even in 9 months selling coins everyday i don't think you can

anyway i guess you could use the s1 to mine other coins but i'm not sure

[Sheldor333]

I use this one http://www.coinwarz.com/cryptocurrency
That way you can see which alt coin is most profitable to mine at the moment. Don't think any of us here in the noob sections have equipment that can mine btc at a profit, if you do go in the mining section of the site, there are plenty of tuts there.

[ehwwong]

Thanks Guys, decided to research more before jumping on the mining wagon... i learnt some thing new today... alt coins... LOL and i thought BTC was the only one... thanks!