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Author Topic: Is Bitcoin Mining still profitable?  (Read 4180 times)
btcinfo
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February 14, 2017, 08:15:56 PM
 #1

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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February 14, 2017, 08:21:42 PM
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As always, it depends on your electricity cost and hardware cost at your place.
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February 14, 2017, 09:27:22 PM
 #3

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!
it may not be profitable but it is a private way to buy Bitcoin.

Okay. The old man told me to take any rug in the house.
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February 15, 2017, 07:53:06 AM
 #4

not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...
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February 15, 2017, 11:16:24 AM
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not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...

seems you have very high kwH cost at your place
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February 15, 2017, 02:51:30 PM
 #6

Unless you're pretty damn rich, it's not profitable.  It takes ages to get back your initial investment even if you don't consider the rising cost of electricity. Obviously it is possible to make a profit from it, otherwise the Bitcoin community would be under a lot of pressure, but I wouldn't advise investing in it on your own.  Group purchases could be profitable if you really try.
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February 16, 2017, 08:00:59 AM
 #7

not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...

seems you have very high kwH cost at your place

yeah but even with 5 cent you are still looking for a very long roi time, you need to factor a 10% diff increase if not more

going small and buying one s9 for example doesn't make sense to me, making few satoshi and wait 1 year to recover the initial investment if ever

it's better to buy bitcoin and wait for the value to skyrocket, much easier
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February 16, 2017, 08:04:19 PM
 #8

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!

I think it is still profitable but it will take a long waiting before the return of investment be happen. And I think now is not a good time to invest it much better to buy and hold bitcoin.




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February 17, 2017, 07:35:32 AM
 #9

Currently I'm mining with 3 units of S5 and S7 2 units. When the price of the bitcoin under $900, 900-950 draw and more than $950. I haven't been lucky, but as the price of the bitcoin hit $1.000, I earn a profit. I think the main factor mining affecting is the bitcoin price and electricity cost.
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February 19, 2017, 01:43:04 PM
 #10

Its profitable if you are going to invest in the best mining rig with good hash rates and if you are living in a country which provides low electricity tariffs.

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February 19, 2017, 07:51:45 PM
 #11

What people usually forget is that they will need to run the miner for at least a year 24/7 for it to pay for itself. The equipment may get damaged in the process and with mining companies there's no warranty. If you have a fire in the house or someone breaks in and steals it you're done. There also other options like kids, animals, lightning, or just simple component failure. You could say these things are rare, but you aren't running one miner. Chances are one of them will fail and it will extend your ROI time by a couple months.


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February 21, 2017, 06:37:54 AM
 #12

Depending on the price of electricity, I recommend that if the price of electricity in the place you under 12 cents, then you can proceed to mining. remember the price of the bitcoin will reach $1.100 and this is a good moment for mining.
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February 24, 2017, 04:52:26 AM
 #13

not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...

Just plug the numbers into a mining calculator, you'll find that unless you have ridiculous electricity rates, you can make profit. Electricity is 0.10 $/kWh where i live and I could easily turn a nice profit off 5-10 S9's. 
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February 26, 2017, 11:15:23 PM
 #14

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!

For a newbie like you? well, I guess its not profitable except if you have enough knowledge in mining rigs and enough fund to buy mining rigs that could be possible for for you to make profitable because it produce bitcoin profit. But if not, its not advisable for you to do it as a starting point. It is much better for you do some research, study, and learn about in bitcoin.

                                 
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February 27, 2017, 07:31:37 AM
 #15

not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...

Just plug the numbers into a mining calculator, you'll find that unless you have ridiculous electricity rates, you can make profit. Electricity is 0.10 $/kWh where i live and I could easily turn a nice profit off 5-10 S9's.  

as i said in that post you need to invest big to make something significant, 10 s9 is $20k, not everyone has 20k ready to throw at crypto

and with 10 of them you are only generating 0.08 a day, minus electricity, it's not that much....
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February 28, 2017, 02:22:01 PM
 #16

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!

If you are talking now, Bitcoin mining is profitable only if you have a mining rig of course.  But if you don't I think for an ordinary community in this industry it's not profitable in my part. Maybe I could some pool mining but not that as big profit I can get, I guess.


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cambda
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February 28, 2017, 02:27:38 PM
 #17

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!
It all depends on electricity cost in your area,mining hard you choose and how big your farm is, if you are planning to mine with a single miner then it isn't worth but if you have good budget to setup a mining farm and electricity is cheaper then its profitable.


 
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February 28, 2017, 03:11:38 PM
 #18

As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!
it may not be profitable but it is a private way to buy Bitcoin.

As the Dude abides...the best rate for purchasing bitcoin is with electricity...it also puts you in a different mindset than the day trading one does.

bitcoin mining is profitable

is owning an ATM profitable?

very few would do it if it wasn't...end of story.

naturally there is a complicated economy that dictates it's value...it's not just mining there's an entire world of non-mining bitcoin related stuff.

Last I checked if you have power that is 10 cents a kw/h or less...then btc mining can be profitable immediately with the proper equipment.

If your power costs more than 10 cents a kw/h then you have to wait for the price to go up or trade it in a different way, like for some shoes from your homie.

Obviously the farther you are from the 10 cent mark the faster you'll profit.

What else are you going to do with your money? Spend it on food or drugs or some short lived form of instant gratification?

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GMPoison
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March 02, 2017, 11:45:54 PM
 #19

not worth the investment unless you can go very  big, it's centralized as it get and not casual anymore

for example 1 single s9 net you less than 0.01 per day with 1.4kw/h of consumption, and the diff keep increase, which mean this amount is decreasing over time

we are already approaching the day where you need the whole resitendial power(usually here 3kw/h) to run a miner...

Just plug the numbers into a mining calculator, you'll find that unless you have ridiculous electricity rates, you can make profit. Electricity is 0.10 $/kWh where i live and I could easily turn a nice profit off 5-10 S9's. 

as i said in that post you need to invest big to make somethign significant, 10 s9 is $20k, not everyone has 20k ready to throw at crypto

and with 10 of them you are only generating 0.08 a day, minus electricity, it's not that much....

I plan on starting with four S9s which with a 10c power rate will net me about $700 per month after power costs. Factoring in the resale value of the miners, that's extremely profitable. In the real world of investing with stocks and real estate, you couldn't even dream of returns like those.
poseidon2017
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March 03, 2017, 05:55:06 AM
 #20

I understand the forum is to ask for help among other things. But this is the kind of question that for me is annoying and ridiculous. I can be answered only by your awareness of your own circumstances.
Stop being lazy and research about the technology, electricity costs, and do the math. You will have then the precise answer that applies to you.
Sorry about the rant, but I've seen the question so many times and I am tired of people that won't do their homework and just want help for all things
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