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Author Topic: Is Mining profitable?  (Read 2097 times)
chiajw1
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October 28, 2015, 10:26:48 AM
 #1

Actually is mining bitcoin profitable?And what is the mining altcoins?
As far as I know, normal computer is not profitable to mine. Is buying a mining hardware helping to earn money?
What hardware should to maximize profit I use if I were to mine?
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October 28, 2015, 10:54:25 AM
 #2

Simple answer:
If you got very cheap/free electricity, mining is profitable.
If not, then no! ^^
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October 28, 2015, 11:04:08 AM
 #3

If you have only one hardware then i would say no.
If you have lots of mining rigs then yes, mostly a mining farm, but the ROI is just too long to be reached.
I don't know if you can reach the ROI by the end of the July next year because the block reward will be 50% less.

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October 28, 2015, 11:08:09 AM
 #4

the free eletrecity into sha256 might give satoshis per day in small rigs but if you pay eletrecity and have then 1THs its very useless i dont advise to invest much go progressive if you have free and buy a miner hardware even a S5 ant miner or soo

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October 28, 2015, 11:46:40 AM
 #5

Actually is mining bitcoin profitable?And what is the mining altcoins?

one of the most questions around there Tongue

Profitable? depends, do you have free electricity? free HW? if you have some of them for free or really really cheap, then ofc this is profitable and you are a lucky man Wink, if that's not your case, which is more than 90% of people ( more or less ) here, than i can suggest you to just don't think on it anymore Tongue


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October 28, 2015, 01:03:45 PM
 #6

Actually is mining bitcoin profitable?And what is the mining altcoins?
As far as I know, normal computer is not profitable to mine. Is buying a mining hardware helping to earn money?
What hardware should to maximize profit I use if I were to mine?

You can mine altcoins with the same equipment you mine Bitcoins and you can mine them much more than Bitcoins at the same time. The question is do they worth anything? There were hundreds of altcoins and only few of them survived.

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October 28, 2015, 02:11:08 PM
 #7

Actually is mining bitcoin profitable?And what is the mining altcoins?
As far as I know, normal computer is not profitable to mine. Is buying a mining hardware helping to earn money?
What hardware should to maximize profit I use if I were to mine?

You can mine altcoins with the same equipment you mine Bitcoins and you can mine them much more than Bitcoins at the same time. The question is do they worth anything? There were hundreds of altcoins and only few of them survived.

The anwser is no it's not worth it.  You are better of almost all of the time mining BTC and buying some altcoins if you want them.   Btc just is the most common sha coin by far, pretty much everyone is mining it.

I don't think there is another sha coin that currently could get me to invest.   And if you look at nicehash you will see people are not paying huge premium so not really anyone doing sha altcoins.
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October 29, 2015, 08:39:32 AM
 #8

Simple answer:
If you got very cheap/free electricity, mining is profitable.
If not, then no! ^^

that's is only true if you do not instamine and mine bitcoin, or other high diff coin

with new coin cheap electricity does not matter, it matter more how fast you're to grab a good amount of coin at launch

also there is to be considered the initial investment, which is very big if you want efficiency
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October 29, 2015, 08:53:03 AM
 #9

It is probably not profitable to mine anything. To get profit, you would need a big space with low electrical costs and cool climate. Mining hardwares are  cheaper when it is obtained in bulk, which is probably not what a home miner could do. Alt coins could be profitable but the risk is really too high, there are many pump and dump coins around.

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October 29, 2015, 09:22:58 AM
 #10

If you have VERY low electric cost (3cent/KWH ballpark), you can mine and have a good chance to achieve RoI on the S7 (and the upcomming Avalon 6) under recent conditions. It appears that the upcomming Lketc/BW.com unit might be even better (mostly due to lower projected cost), but the pricing on that one is still uncertain and availability is still up in the air.

 If you build it right and have fairly low electric cost (under 7c/KWH, perhaps a little higher), you can mine DASH profitably with a GPU rig (but the RoI will take well over a year even with 3cent electric, assuming recent conditions of DASH don't change).

 I've not done a calc on Litecoin lately, other than on my existing Gridseed Blades (which are a hair under break-even currently with 6.7cent electric, gonna be shutting them down once I hit my next payout from my pool). Anything noticeably more efficient like the Alcheminer (and clones), the A2 based miners, and especially Titans should be profitable at 10cent electric but RoI might be problematic if you don't already have the gear.

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October 29, 2015, 11:23:09 AM
 #11

If you have VERY low electric cost (3cent/KWH ballpark), you can mine and have a good chance to achieve RoI on the S7 (and the upcomming Avalon 6) under recent conditions. It appears that the upcomming Lketc/BW.com unit might be even better (mostly due to lower projected cost), but the pricing on that one is still uncertain and availability is still up in the air.

 If you build it right and have fairly low electric cost (under 7c/KWH, perhaps a little higher), you can mine DASH profitably with a GPU rig (but the RoI will take well over a year even with 3cent electric, assuming recent conditions of DASH don't change).

 I've not done a calc on Litecoin lately, other than on my existing Gridseed Blades (which are a hair under break-even currently with 6.7cent electric, gonna be shutting them down once I hit my next payout from my pool). Anything noticeably more efficient like the Alcheminer (and clones), the A2 based miners, and especially Titans should be profitable at 10cent electric but RoI might be problematic if you don't already have the gear.


Chances of ROIing on a GPU rig are pretty slim  I think anymore.  The coins are just not worth enough to make a profit over electriciity where a substantial amount is there to pay off card's.   You might find a coin now and then to profit from but I don't see ROI happening.

The hope I have is Lketc/BW is cheap like it should be.  Not sure if this will happen or not, but it would be nice if they did.  Part of reason is bitmain has a track record of lowering to try to beat competition.... so good for miners.
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October 29, 2015, 01:56:42 PM
 #12

Simple answer:
If you got very cheap/free electricity, mining is profitable.
If not, then no! ^^

that's is only true if you do not instamine and mine bitcoin, or other high diff coin

with new coin cheap electricity does not matter, it matter more how fast you're to grab a good amount of coin at launch

also there is to be considered the initial investment, which is very big if you want efficiency

So amph does the old-style "mine, dump, next" thing Grin
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October 29, 2015, 02:22:29 PM
 #13

that's is only true if you do not instamine and mine bitcoin, or other high diff coin

with new coin cheap electricity does not matter, it matter more how fast you're to grab a good amount of coin at launch

also there is to be considered the initial investment, which is very big if you want efficiency

So amph does the old-style "mine, dump, next" thing Grin

You forgot the part where they convince others to spend hundreds/thousands on raising the price of said alt-coin, only to sell off when price peaks and leave them hanging.

Much like investment advisors, they turn "Their experience, and your money" into "Their money, and your experience".

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October 29, 2015, 02:25:50 PM
 #14

Simple answer:
If you got very cheap/free electricity, mining is profitable.
If not, then no! ^^

that's is only true if you do not instamine and mine bitcoin, or other high diff coin

with new coin cheap electricity does not matter, it matter more how fast you're to grab a good amount of coin at launch

also there is to be considered the initial investment, which is very big if you want efficiency

So amph does the old-style "mine, dump, next" thing Grin

The problem is most altcoins are pump and dump so some make profit mining quickly then selling. Specifically sha256 there is not a lot good longterm altcoin.

And there is not a lot of new coin launches.  So I don't think this ill happen to often at all.  You can watch nicehash to see that it's not really worth it it's been running under BTC prices for a while.  It's currently around 5 under BTC mining amount.
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October 30, 2015, 09:54:37 AM
 #15

There are way too many worthless altcoins already, what the world does NOT need is yet more coin launches.

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October 30, 2015, 10:06:04 AM
 #16

I am mining and it is not profitable for me.
But it does absolutly not matter.
And I have paid the highest price for my U2
I have not wanted try with a second hand and I have prefered to have the garantee to return it if problems or I were unable to use it.

So now I do not regret to have it even if I'm in lost certainly for ever.

I propose the "comining"...so if you are a micro miner like me...comine with me and you will save the high fees for little withdraw.
Think about.

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October 30, 2015, 10:07:34 AM
 #17

Actually it depends :-

1) Is electricity cheap in your country ?
2) whats your hashrate ?
3) Which coin you are mining ?

These are the questions that needs to be answered before doing mining

1) If you have cheap electricity in your country and electricity then yeah mining is profitable .
2) If your hashrate is pretty low or you are mining on your notebook with gpu and cpu cores then my friend its not profitable at all, moreover you will  
end your laptop with heating issues and may sometime lead to gpu failure . Go with ascii miner .
3) Also depends what coin you are mining , like new coins just settled up have a  low block reward so go with those ones who have higher block reward.
 

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October 30, 2015, 04:30:32 PM
 #18

I am mining and it is not profitable for me.
But it does absolutly not matter.
And I have paid the highest price for my U2
I have not wanted try with a second hand and I have prefered to have the garantee to return it if problems or I were unable to use it.

So now I do not regret to have it even if I'm in lost certainly for ever.

I propose the "comining"...so if you are a micro miner like me...comine with me and you will save the high fees for little withdraw.
Think about.


Stick miners are not for profit they are for fun.  It just cost's more per hash on stick miners.   So using a U2 really is not going to get you a profit.

But yes mining is profitable for many people still.  A lot were profitable at 230..... so at 330 per coin that is a hug bump in mining so many more are much more profitable now.
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October 31, 2015, 10:35:11 AM
 #19

There are way too many worthless altcoins already, what the world does NOT need is yet more coin launches.

actually those altcoin, help spreadin the bitcoin among several users, instead of having few contorlling the most

for example without mining i would have been forced to buy bitcoin, instead tnx to mining alt, i've acquired a good amount of bitcoin
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November 04, 2015, 11:22:02 AM
 #20

hm now price 1BTC=450$ and expect to go more up
where the price of the bitcoin starts to be profitable mining

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