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XiongTyler (OP)
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January 19, 2017, 07:45:55 AM
 #1

In the world of Bitcoin, the price is highly unpredictable. Trends can change in the blink of an eye; a profit can turn into a loss in a flash. Many people spent days and nights on staring at the candle line, but the outcome is still pathetic. However, at least in the last two years, there has been a small group of people, usually called "miners," can achieve a considerable stable profit from Bitcoin.

Don't believe it? Let's retrospect the income of miners in the past two years.

On January 1st, 2015, the price of Bitcoin at 8:00 was 1,938 yuan. If you happened to get 1,938 yuan in your hand, you could use this money to buy one bitcoin or 1.421 Terrahash (Antminer S3, the most power-saving miner at that time). These Hashrates consume 19.2 kWh of electricity per day; say the price of electricity is 0.32 yuan/kWh, then your daily power cost is 6.144 yuan. If you choose to sell the bitcoins you mined in the previous day at 8:00 every day, then, at the end of 2015, you will achieve a total income of 5,117.61 yuan. Namely, the return on investment (ROI) would be 164%.


The Performance of 1.421T Standard Hashrate in 2015 (Sell all bitcoins)

Of course, if you choose to save those bitcoins and only sell them when you have to pay the electricity bill. Then, at the end of 2015, you will achieve a total income of 3.04144716 BTC, namely the ROI would be 204%.


The Performance of 1.421T Standard Hashrate in 2015 (Save as many coins as possible)

In case you do not know, by the end of 2015, the 1.421 Terrahash in your hand is still worth about 800 yuan. Isn't mining a worth-trying business?

In 2016, due to the launch of Antminer S7 and Avalon A6, the difficulty of Bitcoin surged dramatically; in the meantime, the output of Bitcoin halved. Therefore, many people believe that mining is no longer profitable. However, in fact, it is not the case.

On January 1st, 2016, the price of Bitcoin at 8:00 was 2824 yuan. If you happened to get 2,824 yuan in your hand, you could use this money to buy one bitcoin or 1.882 Terrahash (Antminer S7, the most power-saving miner at that time). These Hashrates consume 7.2 kWh of electricity per day; say the price of electricity is 0.32 yuan/kWh, then your daily power cost is 2.304 yuan. If you choose to sell the bitcoins you mined in the previous day at 8:00 every day, then, at the end of 2016, you will achieve a total income of 3,492.89 yuan. Namely, the return on investment (ROI) would be 23.65%.


The Performance of 1.882 T Standard Hashrate in 2016 (Sell all bitcoins)

Of course, you may say that since the price of Bitcoin increased to 6,836 yuan at the end of 2016, it would be more profitable to buy one bitcoin and just keep it. That is right only if you can keep it. Besides, if you save the bitcoins you mined and only sell them when you have to pay the electricity bill. Then, you will find yourself achieved a total income of 1.06252322 BTC at the end of the year. Again, the 1.882T Hashrate in your hand is still worth about 1,000 yuan.


The Performance of 1.882 T  Standard Hashrate in 2016 (Save as many coins as possible)

Now, in early 2017, the price of Bitcoin is about 6,100 yuan; the most power-saving miner in the market costs less than 900 yuan per Terrahash. This kind of Hashrates consumes 3.6 kWh of electricity per day. Since the price of electricity is 0.32 yuan/kWh, your daily power cost is only 1.152 yuan.

Why are you still waiting? https://haobtc.com/exchange/main

Bixin!
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January 19, 2017, 12:57:13 PM
 #2

Very nice and powerful analysis from op. If am in were Electricity is lower, mining altcoin could have been a risk free options for me. But for now trading seen the only options. I Think why many people are losing in trade is due to lack of adequate skills and knowledge needed in trading. Professional traders seen the multiple daily fluctuations in the price of bitcoin and others altcoin as a great advantage but the newbies see it as great risk. professional traders makes profits either the market is going up or coming down and the newbie traders wish the market should be going up and never come down.
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January 19, 2017, 05:37:47 PM
 #3

Umm I do not really understand the point of this post. You basically said mining is profitable if you have low electricity cost, well no shit man. And bu the way whatever is on haobtc.com we cannot see it since it's not working anymore...
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January 19, 2017, 06:43:39 PM
 #4

At the moment, Mining Other Altcoins are far more profitable than mining Bitcoin. And again, OP's analysis are comparing the price if Bitcoin two years ago and the price of bitcoin today. That makes your analysis a bit off. You're right with some facts though

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January 19, 2017, 07:04:18 PM
 #5

Where the calculation come from? Where a calculation for the difficult? How much power to earn that profit?

Bitcoin mining will profitable when you have good equipment (hardware, cool room, cheap or even free electric bills) and big capital.

And I don't know why cloudmining(real mining) build a service to share to people the revenue when they can earn more profit just for them, plus it's hard to manage a share income, why make it complicated Roll Eyes

Umm I do not really understand the point of this post. You basically said mining is profitable if you have low electricity cost, well no shit man. And bu the way whatever is on haobtc.com we cannot see it since it's not working anymore...

Obviously promote hao Roll Eyes
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January 19, 2017, 07:47:47 PM
 #6

what is haobtc
cloud mining service, if investment in there use bitcoin or yuan
and rate bitcoin follow use huobi or okcoin, or self internal rate
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January 19, 2017, 08:08:35 PM
 #7

Where the calculation come from? Where a calculation for the difficult? How much power to earn that profit?

Bitcoin mining will profitable when you have good equipment (hardware, cool room, cheap or even free electric bills) and big capital.

And I don't know why cloudmining(real mining) build a service to share to people the revenue when they can earn more profit just for them, plus it's hard to manage a share income, why make it complicated Roll Eyes

Umm I do not really understand the point of this post. You basically said mining is profitable if you have low electricity cost, well no shit man. And bu the way whatever is on haobtc.com we cannot see it since it's not working anymore...

Obviously promote hao Roll Eyes

Yeah well most of the guys here will never invest in something like cloud mining or that hardware rentals or however they are called now. But if OP tried to promote hao this is such a fail since website is offline lol
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January 21, 2017, 11:03:12 AM
 #8

Umm I do not really understand the point of this post...

He is promoting HaoBTC

what is haobtc
cloud mining service, if investment in there use bitcoin or yuan
and rate bitcoin follow use huobi or okcoin, or self internal rate

See the answer for all the questions in the haobtc thread

https://bitcointalk.org/index.php?topic=1023187.0



I do not live in China and I'm not a miner so I can not contest your calculations.

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January 21, 2017, 01:24:48 PM
 #9

what is haobtc
cloud mining service, if investment in there use bitcoin or yuan
and rate bitcoin follow use huobi or okcoin, or self internal rate
Well, cloud mining has a bad reputation because most of the manager try to steal other people's money. In fact, there are only a few legit cloud mining services online and the rest are based on Ponzi scheme. Therefore, there is nothing ensure to us that HaoBTC is legit. If you not see their company, I suggest you should stay away from it Smiley
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January 21, 2017, 01:31:46 PM
 #10

Investing bitcoin in a better way = investing in cloud mining? xD

Cloud mining is a scam.
It's just a freaking horrible scam.
Of course it CAN be profitable, it can happen.
But in cloud mining the USER takes the risks,
while the company takes all the profits...

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dhampir-D
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January 21, 2017, 02:44:35 PM
 #11

what is haobtc
cloud mining service, if investment in there use bitcoin or yuan
and rate bitcoin follow use huobi or okcoin, or self internal rate
Well, cloud mining has a bad reputation because most of the manager try to steal other people's money. In fact, there are only a few legit cloud mining services online and the rest are based on Ponzi scheme. Therefore, there is nothing ensure to us that HaoBTC is legit. If you not see their company, I suggest you should stay away from it Smiley
One thing I can not understand about cloud mining is the fact that if the hashpower these companies are selling can make a profit, then why don't they use that hashpower to favor themselves?
Some people argue that such companies prefer to share profit with users. Well, if they actually intended to share profit with users, then they would not put extremely high maintenance fees.
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