Is mining still a good idea?

[winspiral]

No, mining is absolutely unprofitable. The reason is, most people who buy mining equipment are unable to make basic arithmetical calculations, and buy miners at over-inflated prices, so all of them will lose money. The profitability calculators available on the net are mostly put up by miner manufacturers to mislead the public.

I knew it when I bought my U2
But i have done this choice because I wanted try mining with a new first hand miner.
No need to be Einstein to understand that mining 500 satoshi or so per day is not profitable...
But I can say...I am a miner (lol)

By the way...
if someone is a micro miner like me...
I propose him to mine in my team and so he has less withdrawal fees or perhaps it allows him to get satoshi quicker than alone.

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[Gaswuwade]

No, mining is absolutely unprofitable. The reason is, most people who buy mining equipment are unable to make basic arithmetical calculations, and buy miners at over-inflated prices, so all of them will lose money. The profitability calculators available on the net are mostly put up by miner manufacturers to mislead the public.

The main problem is that the buyer do not set high enough difficulty rise figures, so it seems profitable for them.

[Wilhelmus]

No, mining is absolutely unprofitable. The reason is, most people who buy mining equipment are unable to make basic arithmetical calculations, and buy miners at over-inflated prices, so all of them will lose money. The profitability calculators available on the net are mostly put up by miner manufacturers to mislead the public.

The main problem is that the buyer do not set high enough difficulty rise figures, so it seems profitable for them.

Yeah, that's the enthusiasm. Everyone should at least put a 15% increase scheme of the difficulty each month to be sure that what is shown on their screen is what they are sure to get, and the rest (because a 15% difficulty increase is too huge to be always true) will only be happy surprises !

[leowonderful]

Mining is a great idea- but here's the catch- for people like me who just like seeing those "share accepted" messages on bfgminer or cgminer. Unless you have electricity that is 1. nearly free (0.05$ kwh or less) or 2. mine in an "industrial" area (cheaper elec), no, not even the most efficient miner as of now will not be profitable. Occasionally a coin will be pumped and its price will go high enough for you to "profit," but generally this pump will not last long enough for you to mine and sell it for bitcoin on exchanges. Essentially, bitcoin mining is not a great idea for 85% of the world.

[spiritual3]

from the last few months i am with cloudmining.. it is paying regularly ....

[khalized]

I think is not a good idea, because if you like the investment you are doing (as money and time) and how much you get...
I think is so risky not a good point to start to earn btc.
There are other method more easy... also develop a new application or a new site is more plausible.
Probably I am wrong, but from my experience I think is not a good solution for earn btc.