Is mining still profitable?

[pixel]

Is mining Litecoin or Bitcoin still profitable?

[MiningBuddy]

Depends if your making more then it costs to produce said bitcoins.
Factors could include hardware cost, electricity cost, maintenance etc

[Kaega]

Even with the increased difficulty, my dual 7970 rig should bring in 2.5 coins/month or $187.

Now as ASICs flood into the hands of miners, GUI mining will probably shift to Litecoins where the returns are about the same.  You can trade LTC for BTC on btc-e.com.

[carborundum]

Is mining Litecoin or Bitcoin still profitable?

Bitcoin mining is getting near its end for small players. Cost of electricity > Bitcoin value mined. Even if ASICs turn out to be a fraud its still not really worth the effort IMHO.

LItecoin... who knows??

[ionux]

Yes, definitely. Exactly how profitable depends on a number of factord: power cost, hardware cost, mining difficulty, hash rate, market prices and whether you are part of a pool or solo mining.

[pixel]

I dont pay for electricity, still in High School.

[wevie]

I dont pay for electricity, still in High School.

This blows my mind.

If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50

As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator.

[bitcoiner1]

This blows my mind.

If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50

As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator.

Thought the same

Maybe instead of generating money, which burns your parents money, you could just ask them to give you more pocket money.

[christop]

Sometimes electricity to run a mining rig actually can be free, particularly in colder environments where you would normally have to run a heater.

[wevie]

Sometimes electricity to run a mining rig actually can be free, particularly in colder environments where you would normally have to run a heater.

However, OP did not state that power is included in HIS rent or that he owns a wind farm, simply that he is still in high school.  This implies that he lives at home and HE doesn't pay for power someone else (a parent?) does.

OP implies that power consumption is not important to him because he will steal the power from his parents.

(This my understanding of

I dont pay for electricity, still in High School.

and may actually be an incorrect assumption)

[jaeyjay]

I've been mining litecoins for a while and they are still quite profitable, especially with the rising prices.

[pixel]

I dont pay for electricity, still in High School.

This blows my mind.

If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50

As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator.

Try like 450-500w

[Edvin512]

could get 2-3 7970's for 450watt

[kefky]

Is mining Litecoin or Bitcoin still profitable?

I just orderd few avalon miners so I hope so 

[Gator-hex]

Bitcoin is profitable but eventually, when the ASICs are in miners hands, it won't be and you'll need to switch to LiteCoin with graphics cards.

Litecoin has been designed to make it hard for anyone to create a dedicated FPGA/ASIC hardware miner.

[christop]

Bitcoin mining will always be profitable for some miners. If it becomes unprofitable enough for a miner, they can drop out of the game, making it more profitable for the remaining miners.

[dazzle]

Bitcoin mining will always be profitable for some miners. If it becomes unprofitable enough for a miner, they can drop out of the game, making it more profitable for the remaining miners.

Post of God. Bow.

[Noone1]

GPU Mining: No
ASIC Mining: Yes

[snowshadow]

Ive stopped mining bitcoins, its either LTC or CHN/CNC now

[DragonDNS]

Yeah, dustcoin has recently added some new alt currencies to their list and nearly every other alt coin is more profitable than BTC.