Do you think mining will be profitable again ?

[dmwardjr]

I looked into buying a mining rig a while ago, and setting up a pool with my friends, But from what I understand the time for making money from mining has passed.

Gotta think BIG; get where u have cheap power; and hope you can get your hand on the next gen rigs that come out the end of summer or the fall.

[Tongkar]

I dont think it will be profitable again well not for bitcoin. Big companies and investments will be the next big thing for bitcoin.

[Amph]

I dont think it will be profitable again well not for bitcoin. Big companies and investments will be the next big thing for bitcoin.

i could see in the future big farms selling their hash power to those big company that will establish a cloud site, to bring once again a better decentralization and make casual mining possibile again, thanks to a better deal for the customers

[wpt1wpt1]

Bitcoin is the ultimate free market balancing system and will by it's inherent design mining can not be very profitable over the long run. That's why banks hate it. If price goes up mining power will follow until the excess profits are removed, if price goes down hash rate will become unprofitable and hash rate will go down. So the profit margins over the long run will be very slim. The real question is what happens when the margins are so slim that large mining farms can't attract investments, will mining pivot back to enthusiasts and those who want to acquire virgin less traceable BTC who are willing to mine at a small loss?

[GenTarkin]

There will be a brief period of profitability mining if the price skyrockets in a relatively short time. Diff will take a while longer to 'catch up'. Its during that window that mining will be highly profitable.
If there is another skyrocket in price ..... anyways....

[extrabyte]

just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days

[dmwardjr]

just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days

Yes, I agree...  If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.

[vrm86]

Mining would be always profitable, but under some harsh conditions:

1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.

Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times ). So the factors of profitable mining had changed, not everyone then could handle that.

[dHe_zHiq]

Mining would be always profitable, but under some harsh conditions:

1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.

Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times ). So the factors of profitable mining had changed, not everyone then could handle that.

yes i totally agree with you, for the moment is very difficult to make a profit if the cost is issued is limited, due to the increasingly difficult levels of difficulty in adding more and more people are mining bitcoin

[mark coins]

just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days

Yes, I agree...  If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.

I would generally agree with this statement. if you're looking for a profit you'd be better off buying rather than mining unless you're sure that you're getting efficient miners and cheap enough electricity to warrant it.

[dmwardjr]

just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days

Yes, I agree...  If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.

I would generally agree with this statement. if you're looking for a profit you'd be better off buying rather than mining unless you're sure that you're getting efficient miners and cheap enough electricity to warrant it.

Also, buying LTC/BTC low and selling LTC/BTC high is doing well right now.  LTC block halving is almost upon us.  It will occur the end of August.  Hence, the volatility in LTC right now.  This volatility is carrying over into the BTC/USD market as well.  Not as much, but still some volatility and not the boring sideways.

LTC is the place to be right now in terms of trading crypto.  My honest opinion.

I've turned my 36 BTC into 47 BTC at the moment trading in LTC/BTC since the price was .00822 BTC per LTC.

[philipma1957]

mining for profit is easy.  look for power cost of 5 cents or less.  get a few used s-3's with a low cost server psu and you have profit.

problem is it is small profit.  I run 4 s-3s at 3 cents a kwatt they make money.   the  problem is that is all I can run.




big profit is hard.   getting 100 kwatts at 5 cents is not easy. very few spots in the world to do that.