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Author Topic: Is mining worth trying ?  (Read 1996 times)
shad_90
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June 01, 2015, 03:31:39 PM
 #1

I want to know how to mine BitCoin ? and
Is it profitable to mine coin?
What are expenses and how much do we get from mining ?
What is the Easiest (passive) way to earn BTC ?

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June 01, 2015, 03:46:04 PM
 #2

Buy hardware for mining, not worth anymore if you mining with your pc/laptop.
The easy way to mining is buy cloud mining but be careful to ponzi scheme.
marcotheminer
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June 01, 2015, 03:50:37 PM
 #3

Take a look at https://bit-x.com. BitFury provides the hashrate.
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June 01, 2015, 04:13:48 PM
 #4

Mining is a very competitive area. Personally, I think the best way to make any money is to join a mining pool. There are plenty of free ones in the Mining section.

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June 01, 2015, 04:38:49 PM
 #5

I want to know how to mine BitCoin ? and
Is it profitable to mine coin?
What are expenses and how much do we get from mining ?
What is the Easiest (passive) way to earn BTC ?

No, mining isn't worth it unless you're planning to spend thousands on equipment and even then its still probably not worth it. The best way to aquire bitcoin is to just earn it like you would cash. Offer services or sell things. You can even earn fiat cash doings things in the real world then exchange it for bitcoin if you don't have any skills or items you could sell.
steven.G999
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June 01, 2015, 04:41:25 PM
 #6

bitcoin mining is not profitable now, if you buy the tool? you will pay more electricity than usual, and for mining PC / Laptop? it would be very damaging. Mining cloud? maybe you can try.
but you can try also advice from me to mine altcoin, but must choose which one is good also for mines
fathur01
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June 01, 2015, 04:45:46 PM
 #7

I think it really depends on the amount of money you have to invest and your expectations... You will always be reinvesting some of the returns in more capacity, but then that is the case with any business.
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June 01, 2015, 04:54:55 PM
 #8

For mining to be worthy, you have to spend some $$$ in the begining getting the right hardware + you must consider alot of stuff such as electricity price and the difficulty.....


anyway good luck  Wink


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randy8777
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June 02, 2015, 01:04:20 AM
 #9

mining and current price are not exactly the right combination. it's much better for you just to buy bitcoin. it saves you a lot time, hassle and money.
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June 02, 2015, 02:13:01 AM
 #10

It still can be a fun hobby depending on your interests. Just because people don't have huge refracting observatories doesn't mean people that like astronomy won't use smaller telescopes for fun. Sure they won't find a planet or anything but it can still be a fun educational hobby.  With that said, if you want to try it out you should. You can find some cheap old outdated mining hardware on ebay, obviously you won't profit from it, but like I said earlier it doesn't have to be about making money.

hendra147
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June 02, 2015, 02:36:15 AM
 #11

I want to know how to mine BitCoin ? and
Is it profitable to mine coin?
What are expenses and how much do we get from mining ?
What is the Easiest (passive) way to earn BTC ?

CLOUDMINING is better to get more profit in mining but high risk
RENTRENTAL is better if you want to try before buy hardware you can compare pool by pool
HARDWARE MINING is better if you ready to calculate electric cost, difficult and Price

SirLolicon
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June 02, 2015, 03:23:35 AM
 #12

Mining isn't really worth trying unless you have a corporation behind your back, unless you're mining a good alt-coin early enough.
Cloud mining used to be alright, until most of it turned into scams and ran away with everybody's money.

Just try buying bitcoin and trading or investing instead.

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June 02, 2015, 05:56:04 AM
 #13

I want to know how to mine BitCoin ? and
Is it profitable to mine coin?
What are expenses and how much do we get from mining ?
What is the Easiest (passive) way to earn BTC ?

I want to know how to mine BitCoin ?   There are two main way's cloud or hardware mining.  What is your electricity price and does your country have a vat? (this helps me advise best way)
Is it profitable to mine coin?  It can be depends on lots of factors.  Difficulty has been amazing compared to a lot of peoples projections.  On return and profit I recomed all to looik at mining calculators and do the math for their situation (cloud or hardware still do the math).   
What are expenses and how much do we get from mining ? Depends on how much power you have.  More hashing power=more btc coming in.  These two things are directly related.
What is the Easiest (passive) way to earn BTC ?I personally like mining myself.  I have been doing it since GPU days.  I think mining and trade are two most common.  With so many altcoins being pump/dump I personally stick with btc.

Happy Mining!
kpitti
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June 02, 2015, 07:25:23 AM
 #14

I want to know how to mine BitCoin ?

You can mine Bitcoin with dedicated miner which is specialized HW only for the purpose of mining. You can buy it directly from manufacturer like Bitmain etc... Check un the Forum: Bitcoin Forum > Bitcoin > Mining > Hardware . Do not buy from unknown seller and be very carefull about price, shipment and all conditions.

Quote
and
Is it profitable to mine coin?

I would say it`s not, but someone can arque on this. All the time it`s important to understand all your cost including electricity. Then check possible income which is only estimation as difficulty change can be different. Check several Bitcoin mining calculators - you can google it.

Quote
What are expenses and how much do we get from mining ?

You have initial expense like cost of equipment, shipping cost etc. Then you have to pay for electricity consumption.

Quote
What is the Easiest (passive) way to earn BTC ?

Tihs is real world. No easy (passive) income without work. You can try some of faucets, but it`s very small earnin comparing time you spent there.
notlist3d
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June 02, 2015, 07:28:24 AM
 #15

Take a look at here: scrypt mining https://scrypt.cc?
This is one of the most profitable mining sites

Removed referral spam.  Also I HIGHLY suggest looking into scrypt.cc or any other site before you invest.  scrypt.cc has had many accusations of scam/ponzi.  That is not good and something personally I would not trust with my time.

This is just my opinion so make your own after researching.  But I think you will find more legit cloud mining in BTC.  There just is no new gear with scrypt, the A2 has been king for a long time.  Profit gets smaller and smaller on alt's if not a loss.
MrMissile
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June 02, 2015, 09:31:51 PM
 #16

I'm new here, but have been looking into mining seriously for awhile now and am going to try it soon.  Looking at antminer S5 to start for low investment at 1.1T and if that works out this summer will move up to a sp20 jackson to add on during the winter to also help heat my house since I'm all electric utilities anyways.  Might start earlier on the sp20 and run it half powered at about 800MG/s cause I think the heat would be too much to offset cost during the summer where I am in Texas.  It's already a furnace here during the summers so I can't imagine wanting to put more excess heat upon myself.  Any ideas where to find good mining equipment to start at the lower TG/s speeds?  Can't do much more than that now since just trying it out, but looks like interesting prospects for bitcoin ahead...
subSTRATA
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June 02, 2015, 09:34:52 PM
 #17

if you want to get into mining for profit, youre better off staying away; it wont be profitable without a large initial investment on your part. if you just want to try it out, giving legitimate cloud mining a try doesnt hurt, but be careful, lots of cloud mining operations are ponzi scams.

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MrMissile
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June 02, 2015, 09:44:15 PM
 #18

Thanks for the info.

Was going to go for a break even point and then sit on the coins and hope for the best as a long term investment.  No way I can compete with the guys running PH/s but seems like an interesting idea for hobby.
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June 02, 2015, 09:46:16 PM
 #19

Thanks for the info.

Was going to go for a break even point and then sit on the coins and hope for the best as a long term investment.  No way I can compete with the guys running PH/s but seems like an interesting idea for hobby.

Yeah. Hobby mining is really the only reason people like you and me should be mining. You really can't compete anymore.

If life gives you lemons, make orange juice and leave them wondering how you did it.
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June 02, 2015, 09:55:29 PM
 #20

At the 50 coin per block rate it was well worth it for the huge investment, but being they will soon be rewarding only 12.5 per block I think anyone would be lucky just to break even.  Could have taken a bigger part had I found out way earlier about mining, but if it occupies some of my time then it'll be a good escape.  Wish me luck!
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