Would this be my best bet?

[Mastsetad]

Do your calculations in this website for mining altcoins, a few of them are still profitable as I am writing this reply.

https://www.cryptocompare.com/mining/calculator/eth

Start with Ethereum, you can build a cheap PC with only 1 GPU for example 1 RX 470 and get about 23-25 Mhs. Put the other details of yours in the calculator and check for yourself if it's profitable for your area to mine Ethereum.

If it is , even in small quantity like 1-1.5 USD profit per day by all means do so as you can convert it in Bitcoin and who knows how high the price of bitcoin can go. So that 45 USD per month profit now maybe 450 USD after 2 years, so it's really worth a try if the stats of the calculator are positive for your area.

By looking at the profit rates, i don't think it is worth the time and effort someone might spend on it, because earning even $2 a day will earn you just $60 a month which is almost nothing for someone living in a big country.

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[zend7]

Do your calculations in this website for mining altcoins, a few of them are still profitable as I am writing this reply.

https://www.cryptocompare.com/mining/calculator/eth

Start with Ethereum, you can build a cheap PC with only 1 GPU for example 1 RX 470 and get about 23-25 Mhs. Put the other details of yours in the calculator and check for yourself if it's profitable for your area to mine Ethereum.

If it is , even in small quantity like 1-1.5 USD profit per day by all means do so as you can convert it in Bitcoin and who knows how high the price of bitcoin can go. So that 45 USD per month profit now maybe 450 USD after 2 years, so it's really worth a try if the stats of the calculator are positive for your area.

By looking at the profit rates, i don't think it is worth the time and effort someone might spend on it, because earning even $2 a day will earn you just $60 a month which is almost nothing for someone living in a big country.

As I already said above you have to look at the bigger picture. At the moment maybe 60 USD but once you convert it to bitcoin and save the coins then you have a chance of calmly waiting for a rise in price.

If you have mined for 1-2 years and made like 700-1500 USD( 1-2 BTC) worth now, after a few years those maybe 10-20 btc worth now because of btc rise in price.

This is to do as a side quest and never touch those coins mined after you convert them to bitcoin. I am not saying to make a living out of this but to use as a trampoline for a better future.

[susila_bai]

Hello everyone!

I have been searching around the forums for a while now, to figure out what's best for me in terms of Bitcoin mining.

I have one of those small Antminer USB's, but let's face it.... it will take me a year, and i'm up to 50 cents or MAYBE 1$

There is no way, at this current time i will have the space, nor the equipment to set up my own bitcoin farm, so...

I had a look at Genesis Mining, I have been a customer there before, and everything was running smoothly, now my contract ran out, i'd have to buy myself another contract with them.

But is this my solution, perhaps buying 1 TH/s from Genesis Mining, or can someone recommend a company that does sorta the same?

Thanks!

Alex.

You had your contract at genesis mining but you did not gave any detail about did you had profit or not on that contract, in todays current situation Bitcoin mining with one or two mining unit is waste. It is better that you can do new altcoin mining which are going to hit the market which will give you return very soon

[Stedsm]

If you want to invest for the profit purpose, I don't think that going for cloud mining is the best bet but rather you might go for another miners (I know you are not interested in setting up a farm, but going for just one miner is good) if you have cheap or free electricity. I will not say that don't mine, because if like everyone, I will say the same and if affects the mining thing and some day, people completely stop mining, then I don't think that this is, under any circumstances, in favor of bitcoin network.

[mbbtc01]

Nah!!! Mining is not profitable it will only give you headache because of the high electric bill. Better to stop it before its to late ,or dont start mining at all.  Your  only giving yourself  problems.

Electricity bills and the price of the mining rig will be the headache of miners. But if you can provide this at really cheap costs you can profit. You can check some online calculators regarding this, and check whether you could be profitable.

yes the price of electricity now a days is so high now a days
that mining is not the way make if you had loads of rigs an was making a good profit but it is really hard to so try you hand at something different.

[ethereumhunter]

If you want to invest for the profit purpose, I don't think that going for cloud mining is the best bet but rather you might go for another miners (I know you are not interested in setting up a farm, but going for just one miner is good) if you have cheap or free electricity. I will not say that don't mine, because if like everyone, I will say the same and if affects the mining thing and some day, people completely stop mining, then I don't think that this is, under any circumstances, in favor of bitcoin network.

i agree because for now cloud mining is really hard to make profit and the risk is always scam you in every time without you realize. i think better we build our own rig in the home, and buy a new pc with new vga then i think you can get profit with that. there is many altcoin that you can choose to mining.

genesis mining is really need long time to get ROI, i have been there before and until now, i still have my account but i only have small hashrate to i don't expecting to get much of profit, but i have already my ROI and it needs almost 10 month.