Is mining still a good idea?

[MarHun]

I was wondering about mining profitability and i think it's not worth it to get in. I mean you must get asic miners and the minimum to mine with is i think at least 10 TH/s. Even if you make enough money to pay electricity and still get some $ you have to get back the amount of the machines. I know there is cloud mining but that doesn't make that much and not stable. The blockchain is heavy and there are just too many people already mining who are your "concurrency".
So what do you think?

[xCynosure]

Not unless you have a lot of money to begin with for start up, and a free/renewable source of energy. You're worse off if you live in a warmer region as opposed to a cold one, in that aspect. There are quite a few cost analysis charts you can find online if you do a quick search.

[InvoKing]

Hi, take a look here https://bitcointalk.org/index.php?topic=1279779
You will find useful links to estimate your earning and you can get more ideas before jumping in solo mining
Good luck 

[HarryKPeters]

If you know the miner you want to buy and the electricy rate you can calculate directly, check this site out:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Honestly I think it is not going to be worth your while. since the difficulty is sky rocketting.

[Raimonn]

It depends, if you have a big amount of money to buy the latest minner, and you live in a country with electricity low prices. Could be a good idea, but you need to know that difficulty is increasing very fast. If difficulty grows fast (and you don't have a good electricity low price), it could change to a bad idea in few months.

[crazyearner]

Mining is good so long as you can get equipment at a good price and also that you have very cheap kwh prices, or free energy and no cost to other than buying equipment. If your costs are too expensive on power than I would forget it as your not going to even get close to braking even.

[Amph]

another two years and probably no casual miner can get in, because the mining to have a decent profit would be 50 tera or even more, which mean a big electricity is needed

and only few people have that at their disposal, until then i thinkyou can still try to get 1 s7, it's cheaper now, and try to roi, at worst you sell it before the halving

[occurcry]

Its depends on the cost of your electricity and how much you can spend on your mining project

[Atomicat]

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

[Gaswuwade]

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

[occurcry]

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

[FruitsBasket]

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

If u keep the miners at your basement and make an airway to your house to heat it up, that won't cause any trouble. So it is possible without any hick ups.

[occurcry]

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

If u keep the miners at your basement and make an airway to your house to heat it up, that won't cause any trouble. So it is possible without any hick ups.

I get the point now, but that must be difficult to setup that all the air goes the way u want it to.

[usenet]

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

[occurcry]

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

So because there will be an difficulty increase, u suggest to not start mining if u have no setup?
But what if the price goes to 1000$ per btc, will mining be profitable with the block halving and new difficulties?

[gkv9]

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...

[HarryKPeters]

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

[occurcry]

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

Are you sure about those calculations?
Because if u are, then it will be profitable for me so then I am very interested.

[usenet]

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

So because there will be an difficulty increase, u suggest to not start mining if u have no setup?
But what if the price goes to 1000$ per btc, will mining be profitable with the block halving and new difficulties?

You must decide. Calculate how much you will gain in having the BTC and how much you can gain from mining.

Use the calculator:
https://bitcoinwisdom.com/bitcoin/calculator

You can simulate the difficulty, block reward and many different data.

[TTMNewsMJ]

It depends in you.
If you have the money to start mining then go for it.