Is mining worth it nowadays?

[Tabata11]

I get a flat rate for electricity here because my rent includes all the utility. So I was thinking of mining on my own to acquire more bitcoins. Is investing in a lot of money worth it to acquire some bitcoins? Also, how much money do I need to have to set up a decent mining system.

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[Furio]

I get a flat rate for electricity here because my rent includes all the utility. So I was thinking of mining on my own to acquire more bitcoins. Is investing in a lot of money worth it to acquire some bitcoins? Also, how much money do I need to have to set up a decent mining system.

If you just in it for profit, don't If you in it to be part of and learn from the eco system, please do. One of the fails of bitcoin is the armsrace in hardware, which satoshi predicted would happen if we let it, and surprise surprise our greedyness did

In the concept it was meant to have every person who wants to be part of bitcoin have his own node and own miner, so we all maintain the network in the most decentral way possible, yet then came asics....

But alot of people say just buy some bitcoin and wait...

[notlist3d]

I enjoy mining.  I enjoy mining in winter more free heat.   But with summer coming I'm trying to underclock some to keep heat manageable. 

Also I try to perfect the exhust.  If you can exhust the hot air it helps.

[Tabata11]

Do you mean you don't need to pay electricity ? If so, mining might worth for you
You could ask for more information about mining at https://bitcointalk.org/index.php?board=14.0

Kind of...my rent includes electricity so I don't need to worry about how much I use because I pay the same amount every month. But thanks I will look into that link!

[HiTmanSql]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

[Tabata11]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

[notlist3d]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

There are a few nicehash/westhash.  Then betarigs etc.

But I highly dont suggest renting for 3-4 months.  Unless you need a ton of power.  Rentals normally cost more then BTC would mine.  So you pay a premium.

I would say get a miner that is decent and start slow.   Unless your in a student housing or something like that a regular landlord will eventually catch on something is happening.   During winter I had 1k electricity bills from mining.  If you go big i'm sure it breaches some clause in renting.

[Amph]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

on miningrigrentals too, they have top notch support

btw i'm selling a bot for renting will make your life easy

[notlist3d]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

on miningrigrentals too, they have top notch support

btw i'm selling a bot for renting will make your life easy

Interesting can I have a link?

I would be curious to what it does.

[Amph]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

on miningrigrentals too, they have top notch support

btw i'm selling a bot for renting will make your life easy

Interesting can I have a link?

I would be curious to what it does.

found it

https://bitcointalk.org/index.php?topic=984205.msg10722431#msg10722431

[Kprawn]

Do you have a solid rental contract? You might find that they will try to opt out of that contract, if you start using 50% of the electricity of the complex you are staying in....

Not just that... The noise might also be a problem for the neighbours.. So I hope you are isolated in that sense.  {Standalone unit}

How big are you planning to go with this?

[copuxin]

I get a flat rate for electricity here because my rent includes all the utility. So I was thinking of mining on my own to acquire more bitcoins. Is investing in a lot of money worth it to acquire some bitcoins? Also, how much money do I need to have to set up a decent mining system.

I suppose it is not worth to invest a Mining at the moment. Low profit or even lose.

[NeuroticFish]

Another idea could be to mine altcoins and sell.

For most of them you just need a good and new GPU and you also can get a small profit.

[freemind1]

If you do not pay enough electricity changes, you only have to worry about payback of Asics you have. According to the hashrate you have falter more or less start making something Bitcoin, you can look at any of the many calculators on the network.

[HiTmanSql]

rent a miner, its more appropriate i think. for 3-4 months, and then if it goes well for you, you buy one, if not, you dont and stick to buying and selling

where can i rent one?

There are a few nicehash/westhash.  Then betarigs etc.

But I highly dont suggest renting for 3-4 months.  Unless you need a ton of power.  Rentals normally cost more then BTC would mine.  So you pay a premium.

I would say get a miner that is decent and start slow.   Unless your in a student housing or something like that a regular landlord will eventually catch on something is happening.   During winter I had 1k electricity bills from mining.  If you go big i'm sure it breaches some clause in renting.

did you breakeven? how many month for breakeven?

[locopao]

As far as i know, it's better to keep the money you are going to spend in mining equipment and buy some bitcoins instead. It's better this way, considering the price is still very low.

If you are going to mine anyway, keep in mnd that summer is coming and you are gonna need some extra settings / equipment for cooling things up.

[Webnet]

if u have free electricity or a fixed bill u can try mining with the most profitable miners. although mining is generally not profitable due to high power cost

[planetroving]

Mining Bitcoin is, in my opinion, hard to profit in. Only when you have free electricity or a flat rate, and a very efficient miner, then it would be worth it. Otherwise, if it was me, I'd buy Bitcoins and wait until the price rises, then sell it.

[yeponlyone]

Do you mean you don't need to pay electricity ? If so, mining might worth for you
You could ask for more information about mining at https://bitcointalk.org/index.php?board=14.0

Kind of...my rent includes electricity so I don't need to worry about how much I use because I pay the same amount every month. But thanks I will look into that link!

Are you living in it? It would emit lots of heat and sound. It would be a problem for people near it. If your landlord sees the electricity bill, you would probably get kicked out.

[monbux]

Bitcoin mining?  Probably not.  You can try to mine some new altcoins, and pray that they'll rise like crazy.  Regarding bitcoin mining; not much profit there.