hello looking into investing into mining

[CardShark659]

hello i am looking to possible invest into mining i wanted to get peoples thoughts on mining itself and how profitable it is/can be potentially heard a few people say there is no money in mining but wanting to hear others opinions also wanting to know what kinda of mining software would be best to buy 

[merelcoin]

hello i am looking to possible invest into mining i wanted to get peoples thoughts on mining itself and how profitable it is/can be potentially heard a few people say there is no money in mining but wanting to hear others opinions also wanting to know what kinda of mining software would be best to buy  

It's not about the software, it's about the hardware... IF you want to have a shot at profit mining bitcoins, you need to buy a dedicated ASIC.
At the moment, you have the S7, the S7-LN, the S9 or the avalon 6. The R4 is supposed to be coming out pretty soon, that would be an option to.

The profit depends mostly on your electricity rate, but also on your country (importtax, shippingcosts) and the infrastructure you already have (shelving, airco, PSU's,...). To tell you the truth, you need very cheap electricity, a big budget and preferably a little bit of luck with your serverroom and country in order to make some profit.

You can always have a look at altcoin mining using decent GPU's, the initial cost might be different than buying antminer or avalon gear.

[LordCoder]

hello i am looking to possible invest into mining i wanted to get peoples thoughts on mining itself and how profitable it is/can be potentially heard a few people say there is no money in mining but wanting to hear others opinions also wanting to know what kinda of mining software would be best to buy  

It's not about the software, it's about the hardware... IF you want to have a shot at profit mining bitcoins, you need to buy a dedicated ASIC.
At the moment, you have the S7, the S7-LN, the S9 or the avalon 6. The R4 is supposed to be coming out pretty soon, that would be an option to.

The profit depends mostly on your electricity rate, but also on your country (importtax, shippingcosts) and the infrastructure you already have (shelving, airco, PSU's,...). To tell you the truth, you need very cheap electricity, a big budget and preferably a little bit of luck with your serverroom and country in order to make some profit.

You can always have a look at altcoin mining using decent GPU's, the initial cost might be different than buying antminer or avalon gear.

Well, the software should be optimized as well, and probably it'd be interesting to have very optimized miners for GPUs in order to obtain the maximum revenue per card.

[unholycactus]

hello i am looking to possible invest into mining i wanted to get peoples thoughts on mining itself and how profitable it is/can be potentially heard a few people say there is no money in mining but wanting to hear others opinions also wanting to know what kinda of mining software would be best to buy  

It's not about the software, it's about the hardware... IF you want to have a shot at profit mining bitcoins, you need to buy a dedicated ASIC.
At the moment, you have the S7, the S7-LN, the S9 or the avalon 6. The R4 is supposed to be coming out pretty soon, that would be an option to.

The profit depends mostly on your electricity rate, but also on your country (importtax, shippingcosts) and the infrastructure you already have (shelving, airco, PSU's,...). To tell you the truth, you need very cheap electricity, a big budget and preferably a little bit of luck with your serverroom and country in order to make some profit.

You can always have a look at altcoin mining using decent GPU's, the initial cost might be different than buying antminer or avalon gear.

Well, the software should be optimized as well, and probably it'd be interesting to have very optimized miners for GPUs in order to obtain the maximum revenue per card.

There isn't much to do with software compared to hardware.
Also, it's worth mentioning mining software is usually open source.

[Youresioure]

Free electricity is the best but if you pay any amount for electricity, you will have to calculate with it. Since you are in waiting already, in your place I would wait the R4 hardware. You don't have to buy the software as there are very good open-source software. You still should do proper optimization and maybe it's worth the look up the parameters in related guides depends on what software you will use.

[Tupsu]

Free electricity is the best but if you pay any amount for electricity, you will have to calculate with it. Since you are in waiting already, in your place I would wait the R4 hardware. You don't have to buy the software as there are very good open-source software. You still should do proper optimization and maybe it's worth the look up the parameters in related guides depends on what software you will use.

Do not believe everything you read.
R4 is already on sale a week.

https://shop.bitmain.com/productDetail.htm?pid=00020160829050856183dK8A4TFO0645

Even More overpriced than the S9 .
Today you can only use with them one software  BMminer Version 1.0.0

You are right.

..... a few people say there is no money in mining ....

1 x S9 today earns five euros profit.
5 euro =50 empty cola cans or bottles in my country.  But it does not require investment in 2000 USD
Therefore  BTC mining is a hobby. A hobby does not have to be profitable

[Youresioure]

Free electricity is the best but if you pay any amount for electricity, you will have to calculate with it. Since you are in waiting already, in your place I would wait the R4 hardware. You don't have to buy the software as there are very good open-source software. You still should do proper optimization and maybe it's worth the look up the parameters in related guides depends on what software you will use.

Do not believe everything you read.
R4 is already on sale a week.

https://shop.bitmain.com/productDetail.htm?pid=00020160829050856183dK8A4TFO0645

Even More overpriced than the S9 .
Today you can only use with them one software  BMminer Version 1.0.0

You are right.

That's right, I didn't see that. Is BMminer not open-source, though? As far as I know, BMminer doesn't respect the open source license. Will we be able to use that miner with other software in the future?

[Tupsu]

That's right, I didn't see that. Is BMminer not open-source, though? As far as I know, BMminer doesn't respect the open source license. Will we be able to use that miner with other software in the future?

A little bit of hope
Bounty for Cracking Bitmain S9 BMminer

https://bitcointalk.org/index.php?topic=1569129.0

[Shiroslullaby]

You aren't going to get rich mining unless you have millions of dollars and live in China. 
(And started a company a few years ago already) 
Too much competition. 

It's basically a fun hobby and a way to earn possibly a little bit of money if you really know what you are doing,
but learn a lot about Bitcoin and other cryptocurrencies.

[ethereumhunter]

i think if you mining bitcoin then its not good for you, unless you have free electricity and not just use in one hardware. because the main problem is difficulties of bitcoin has increase too high, and with middle hardware, you will got ROI for too long and its not good for your investment.

maybe you want other option to mining altcoins like DASH, ETH, ETC, LTC, or other. for the hardware, i suggest you to buy vga cards because with vga cards, if you don't want to mining again, then you can sell your vga.

[crairezx20]

I think you dont need to pay for mining software many here are sharing those software or program..
Also if you just mining a low specs you will not making any profit.. better to buy a good specs for mining and it is depends what altcoin you are mining..

[leowonderful]

Mining isn't the goldmine that everybody talks about, first of all. It's about as competitive as anything else in life, and you'll likely have a hard time getting profit without insanely low electricity prices; that said, you'll still be able to make at least ROI with most miners. Altcoins like Ethereum may actually be a better choice than pure Bitcoin mining as of now; GPUs have a relatively high resale value, and you can actually use them for another purpose once you're satisfied with the profit you've made, assuming you haven't fried it. ASICs, on the other hand, get much more difficult to sell as soon as most people hit ROI or as soon as a miner becomes unprofitable. You can pick either, but I'd actually go with Altcoin mining as of now- if you still want to go the Bitcoin way, try the S9 or R4. I'd advise using the APW3 with most miners right now; prices are going a bit down, and the APW3 and APW5 have the same 93% efficiency AFAIK. Cooling will also be an issue, and that's 5 more sentences I won't go into- just make sure you don't use too much electricity. Either way, do your research. Good luck!