Do you think mining will be profitable again ?

[MonkeyCoin11]

Hello,
I really want start mining, but I know actually it's not profitable and most of the time it's a waste of money.
So I wanted to kknow if you think that the mining will be profitable again ?
If not, why there is still so much miner ?

[notlist3d]

It varies greatly.  Personally I say with a underclocked good miner and cheap electricity it can be done.  But not everyone has the cheap electricity.

Are you able to tell us your electricity price?   We can learn a lot about your situation with that.

[darkangel11]

Sure it will, mining is important for the existence of Bitcoin so the market will regulate itself either by the lower difficulty or higher price of BTC.
Some people are also looking towards the halving with hope, we'll see how it goes.

[MonkeyCoin11]

It varies greatly.  Personally I say with a underclocked good miner and cheap electricity it can be done.  But not everyone has the cheap electricity.

Are you able to tell us your electricity price?   We can learn a lot about your situation with that.

I do not know exactly the price of my electricity because i pay to the owner of my flat the "charge" and he is paying electricity, gaz, water, etc... with these charge.
I can tell you I am in Belgium if it helps.

Sure it will, mining is important for the existence of Bitcoin so the market will regulate itself either by the lower difficulty or higher price of BTC.
Some people are also looking towards the halving with hope, we'll see how it goes.

It looks like to take a while, i hope you are true

[GingerAle]

It varies greatly.  Personally I say with a underclocked good miner and cheap electricity it can be done.  But not everyone has the cheap electricity.

Are you able to tell us your electricity price?   We can learn a lot about your situation with that.

I do not know exactly the price of my electricity because i pay to the owner of my flat the "charge" and he is paying electricity, gaz, water, etc... with these charge.
I can tell you I am in Belgium if it helps.

Sure it will, mining is important for the existence of Bitcoin so the market will regulate itself either by the lower difficulty or higher price of BTC.
Some people are also looking towards the halving with hope, we'll see how it goes.

It looks like to take a while, i hope you are true

it also depends on WHAT you mine. Say what you will about altcoins, they provide a way to mine something and then trade that for bitcoins.

[Amph]

there are still many miners, because they have already reached their ROi, it's all profit from now for them, especially with their contract that offer to them cheap electricity

for the future, mining could be profitable only if the price will rise faster than the diff, otherwise if the ratio diff/price will remain 1:1, it won't change anything

[MonkeyCoin11]

it also depends on WHAT you mine. Say what you will about altcoins, they provide a way to mine something and then trade that for bitcoins.

Is it easy to sell altcoin that is easy to mine ?

there are still many miners, because they have already reached their ROi, it's all profit from now for them, especially with their contract that offer to them cheap electricity

for the future, for the future, mining could be profitable only if the price will rise faster than the diff, otherwise if the ratio diff/price will remain 1:1, it won't change anything

Oh i did not know that :O

[ezeminer]

it also depends on WHAT you mine. Say what you will about altcoins, they provide a way to mine something and then trade that for bitcoins.

Is it easy to sell altcoin that is easy to mine ?

Not exactly.

Try using https://www.coinwarz.com

There are many different altcoins that are changing difficulty and market value.

[notlist3d]

it also depends on WHAT you mine. Say what you will about altcoins, they provide a way to mine something and then trade that for bitcoins.

Is it easy to sell altcoin that is easy to mine ?

Not exactly.

Try using https://www.coinwarz.com

There are many different altcoins that are changing difficulty and market value.

Coinwarz is a great site.  Only thing is difficulty and price change quickly on some coins.

I suggest looking into multipools with BTC payout if you are wanting to mine alt sha coins.  That being said you would be better off with mining BTC in a lot of cases.  Or renting and bringing in even more.

[unsoindovo]

Hello,
I really want start mining, but I know actually it's not profitable and most of the time it's a waste of money.
So I wanted to kknow if you think that the mining will be profitable again ?
If not, why there is still so much miner ?

hi MonkeyCoin11.

around the world there are a lot of different context...
first of all it is the electricity cost...
With a very low electricity cost, 5/8dollar cents for kilowatt, you can mine and gain even if the price remains low.
With a EU electricity cost, 20/30dollar cents for kilowatt, you can mine, but not in gain at this bitcoin price...

some days ago, a read this interesting analisys...

https://bitcointalk.org/index.php?topic=1018398.msg11045110#msg11045110

if you want.. take a look

[dquancey]

If/When the price of BTC rises, it will become profitable again, give it time.

[Amph]

If/When the price of BTC rises, it will become profitable again, give it time.

actually it wouldn't because the diff will rise too, the only hope is the time between the price increase and the time needed for the diff to rise accordingly, only in that frame you can earn something

[MonkeyCoin11]

I don't think the price will rise again :/

[notlist3d]

I don't think the price will rise again :/

It will I think.  Just is going to be a slow upwards movement.  I don't think we will just jump to 1k overnight though.

Also I think it will be interesting to see what halving does to price.  I think in long run next halving could help price, but temporarly hurt miners.

[ezeminer]

I don't think the price will rise again :/

It will I think.  Just is going to be a slow upwards movement.  I don't think we will just jump to 1k overnight though.

Also I think it will be interesting to see what halving does to price.  I think in long run next halving could help price, but temporarly hurt miners.

Price will slowly go up, then people sell off. It probably will maintain around 200-300 for a couple months.

Then within 6 months of halving we might see some changing of price. After halving there might be a drop after a couple months as investors (not normal bitcoin users) dump their coins.

I only believe this because there is the NYSE listing and some people don't even use bitcoin for buying or selling. I started out as this might be a cool investment and now I like trading in bitcoin.


But that's just my two cents.

[philipma1957]

It varies greatly.  Personally I say with a underclocked good miner and cheap electricity it can be done.  But not everyone has the cheap electricity.

Are you able to tell us your electricity price?   We can learn a lot about your situation with that.

I do not know exactly the price of my electricity because i pay to the owner of my flat the "charge" and he is paying electricity, gaz, water, etc... with these charge.
I can tell you I am in Belgium if it helps.

Sure it will, mining is important for the existence of Bitcoin so the market will regulate itself either by the lower difficulty or higher price of BTC.
Some people are also looking towards the halving with hope, we'll see how it goes.

It looks like to take a while, i hope you are true

Okay for you mining is absolutely great to make money just not much money.
You pay a flat rate for power so a very small miner would be free power.  
for instance I have a pair of usb sticks using bit fury chips.  each one does about 3.6 or 3.7 gh  two do 7.5gh

your landlord will not notice about 1 euro in power increase.  So small usb sticks are perfect for you.  you won't earn much 3 to 5 euros a year.

Soon better usb sticks are being built (maybe)  

they would earn  2x that so 10 euros a year.

I believe a few of these sticks below would profit.  not a lot but a few.  

2 sticks using 5 watts = 120 watts in a day or 3.6 kwatts a month.  that is not much power cost = maybe 1 euro a month

Almost no landlord will figure that out.Now 20 sticks the landlord would notice.


https://bitcointalk.org/index.php?topic=995675.msg11048953#msg11048953

[MonkeyCoin11]

I hope price will rise, but actually it's go down slowly and i don't know what could make it go up, but i am a bad trader so maybe you are more right than me.

It varies greatly.  Personally I say with a underclocked good miner and cheap electricity it can be done.  But not everyone has the cheap electricity.

Are you able to tell us your electricity price?   We can learn a lot about your situation with that.

I do not know exactly the price of my electricity because i pay to the owner of my flat the "charge" and he is paying electricity, gaz, water, etc... with these charge.
I can tell you I am in Belgium if it helps.

Sure it will, mining is important for the existence of Bitcoin so the market will regulate itself either by the lower difficulty or higher price of BTC.
Some people are also looking towards the halving with hope, we'll see how it goes.

It looks like to take a while, i hope you are true

Okay for you mining is absolutely great to make money just not much money.
You pay a flat rate for power so a very small miner would be free power.  
for instance I have a pair of usb sticks using bit fury chips.  each one does about 3.6 or 3.7 gh  two do 7.5gh

your landlord will not notice about 1 euro in power increase.  So small usb sticks are perfect for you.  you won't earn much 3 to 5 euros a year.

Soon better usb sticks are being built (maybe)  

they would earn  2x that so 10 euros a year.

I believe a few of these sticks below would profit.  not a lot but a few.  

2 sticks using 5 watts = 120 watts in a day or 3.6 kwatts a month.  that is not much power cost = maybe 1 euro a month

Almost no landlord will figure that out.Now 20 sticks the landlord would notice.


https://bitcointalk.org/index.php?topic=995675.msg11048953#msg11048953

Hello,
Thank you for advice, but 3 or 5€ per year is very low. Maybe if I use this strategy i have to mine an other coin ?

[notlist3d]

,,,
Hello,
Thank you for advice, but 3 or 5€ per year is very low. Maybe if I use this strategy i have to mine an other coin ?

To deal with more money you would need to use a bigger miner.   As philipma1957 your landlord will notice at a point.   You put in one miner maybe not depending on miner.   But lets say 2-3 S5, SP20, Avalon 4.1's they will notice the electricity price going up.

I'm not sure your contract as far as what is ok and not ok.  I have only had student housing that it would have been ok to do for "free"/included electricity.  But as it would have raised my roomates rates 25 dollars each i did not mine and make them pay what was called the "peak rate".  It just would have been a jerk move.  In most housing contracts there is something to deal with if electricity go to high.

[MonkeyCoin11]

,,,
Hello,
Thank you for advice, but 3 or 5€ per year is very low. Maybe if I use this strategy i have to mine an other coin ?

To deal with more money you would need to use a bigger miner.   As philipma1957 your landlord will notice at a point.   You put in one miner maybe not depending on miner.   But lets say 2-3 S5, SP20, Avalon 4.1's they will notice the electricity price going up.

I'm not sure your contract as far as what is ok and not ok.  I have only had student housing that it would have been ok to do for "free"/included electricity.  But as it would have raised my roomates rates 25 dollars each i did not mine and make them pay what was called the "peak rate".  It just would have been a jerk move.  In most housing contracts there is something to deal with if electricity go to high.

Of course if i use more he will ask me a bit more money to cover charge, but it will be the right price then.

[notlist3d]

,,,
Hello,
Thank you for advice, but 3 or 5€ per year is very low. Maybe if I use this strategy i have to mine an other coin ?

To deal with more money you would need to use a bigger miner.   As philipma1957 your landlord will notice at a point.   You put in one miner maybe not depending on miner.   But lets say 2-3 S5, SP20, Avalon 4.1's they will notice the electricity price going up.

I'm not sure your contract as far as what is ok and not ok.  I have only had student housing that it would have been ok to do for "free"/included electricity.  But as it would have raised my roomates rates 25 dollars each i did not mine and make them pay what was called the "peak rate".  It just would have been a jerk move.  In most housing contracts there is something to deal with if electricity go to high.

Of course if i use more he will ask me a bit more money to cover charge, but it will be the right price then.

It's a touchy subject a you really don't want to go to a landlord and mention mining.  (I know within past 2 weeks I had one electrician practically run from doing a job when he saw a few miners sitting around. High electricity usage and unknown scares some.).   But you might search online and see what electricity price is to get a idea from your location.  Best would be to ask landlord make sure price of electricity and talk to him in advance before buying a bigger miner (I'm not sure if your contract allows to tack on a overage charge ontop).  But I do realize this is a conversation you chances are do not want to have with landlord.