Bitcoin Price 1200 USD Means - Bitcoin Mining Is Profitable, Even For Beginners

[Red Fish]

Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.

[odolvlobo]

The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without cheap electricity to spend the money on an ASIC miner..

[AdolfinWolf]

Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.

Bitcoin price actually has less and less meaning since the difficulty keeps rising and there are so many huge companies jumping in.


Also one post/fork of BU and it will collapse. ( The bitcoin Price )
It is nowhere near stable, plus the fact that you are not going to be able to compete with miners who have free electricity ( Venezuela ).

[Stedsm]

Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.

Bitcoin price actually has less and less meaning since the difficulty keeps rising and there are so many huge companies jumping in.


Also one post/fork of BU and it will collapse. ( The bitcoin Price )
It is nowhere near stable, plus the fact that you are not going to be able to compete with miners who have free electricity ( Venezuela ).

BU? There are many which are coming nowadays with their own proposals to eat some pie from the markets' big share, but do you really think that for will take place? Still, even after the birth of BUCoin, nothing happened to the price of Bitcoins and it has risen only. I am not saying this over an optimistic sound, but still I think that OP is correct that ATM, mining may be profitable but should not be considered as a long-term profitable activity because of difficulty itself which you pointed out.

[Velkro]

The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without heap electricity to spend the money on an ASIC miner..

This this, price can either drop and difficulty will rise for sure, it always rise quite fast. So profits are often in theory only.
Good luck tho, if u wanna try.

[Okurkabinladin]

The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without heap electricity to spend the money on an ASIC miner..

This this, price can either drop and difficulty will rise for sure, it always rise quite fast. So profits are often in theory only.
Good luck tho, if u wanna try.

I also think, this is basically trap on eager, inexperienced investor.

Mining ins and outs have been throroughly examined over the years. And nothing has changed the general movements towards corporativization of entire process. Single person, even technically gifted cannot compete with dedicated mining pools, putting local conditions (electricity price) aside. Most could consider themselves lucky, if they covered initial investment on their part.

[xypos]

In the modern days, people need to stop thinking about mining bitcoin withkut any proper hardware and money to start the project.
The location is extremely important too, because the electricity bill for mining needs to be low- to make it really profitable.

There are too many big players in this business already, to start your own mining project without at least 10,000$ (which is not much).

The difficulty will constantly rise, and with every year gains from mining will decrease.

[odolvlobo]

There are too many big players in this business already, to start your own mining project without at least 10,000$ (which is not much).

so many large mining operation killed smaller individual mining.

I don't feel that either of these is accurate. The size of a mining operation is only tiny factor in the operation's profitability. The major factor is the cost of electricity. If your electricity is cheap, then you can mine profitably with just a single ASIC. If your electricity is expensive, then a warehouse of ASICs means more losses and not more profits.

The reason that you can no longer mine with a PC is that it is no longer powerful and efficient enough to compete with an ASIC.

[Ryland R. Taylor-Almanza]

Just reading about a user asking about mining and if it is efficient to take part in it and he was shot down for even thinking about starting to at this time.
https://bitcointalk.org/index.php?topic=1862894.0

But now another new one saying it is the right time with the rise in price.

No wonder new members are confused of what to think at times.

[Stedsm]

Just reading about a user asking about mining and if it is efficient to take part in it and he was shot down for even thinking about starting to at this time.
https://bitcointalk.org/index.php?topic=1862894.0

But now another new one saying it is the right time with the rise in price.

No wonder new members are confused of what to think at times.

I think that no one should be left behind by criticizing them for their questions, but instead, we should help them take their decisions as they ask us with a hope of getting correct answers. OP is somehow correct with his statement that with the increased price of Bitcoins, the probability of profits has also been increased. But what these guys need to know is that, they need to throw away some real hard cash in order to purchase those mining hardwares that they need to pour in the profits that we are talking here about.

[iamTom123]

Just reading about a user asking about mining and if it is efficient to take part in it and he was shot down for even thinking about starting to at this time.
https://bitcointalk.org/index.php?topic=1862894.0

But now another new one saying it is the right time with the rise in price. No wonder new members are confused of what to think at times.

It can indeed be so confusing as there are people with different views and varying experiences. Anyway, the most important thing is to filter information and decide which can be real or not. In case there can be doubt on anything, the best thing to do is hold on first and decide later though if a person has guts and can be listening to his/her hunch telling the person to go for it then jump with both eyes open. This forum can be presenting us with many ideas, opinions, views and even data so it is our own responsibility to select which can more likely be telling the truth.

[zend7]

Although this will be short lived due to difficulty increase this still remains a golden opportunity even for a beginner who wants to mine. A beginner can opt to build a PC-mining rig with at least 3 GPU cards and mine altcoins. Then he will immediately convert his daily profit from mining into bitcoin and take profit of the actual bitcoin price. Best would be to save these mining profits in bitcoin and wait a few years, I am 100% sure this will be the best investment someone has made in his entire life. At least that's what I do, opened a specific wallet only for mining and named it MINING. I suggest this to everyone who have financial possibility to do it, it's now or never.

This will be very much emphasized in poor countries, like India,Bangladesh and alike countries. Their energy cost is very cheap so they should take advantage of bitcoin price.

[Idrisu]

Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.

If you can get low electricity price probably solar power and nice coolers for your Asic equipment? I think now should be the best time to mining bitcoin profitably. Though you may not be able to mining bitcoin profitable without cloud mining because of the current demands for bitcoin you can mining altcoins for more return.

[kolloh]

Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.

If you can get low electricity price probably solar power and nice coolers for your Asic equipment? I think now should be the best time to mining bitcoin profitably. Though you may not be able to mining bitcoin profitable without cloud mining because of the current demands for bitcoin you can mining altcoins for more return.

Cheap or free electricity certainly makes mining look attractive, but if you don't have access to cheap electricity, it will still likely be hard to turn a profit via mining bitcoin.

[Ctstrphy]

May I ask how mining works? What is the minimum capital requirement for mining. I can have access to cheap electricity but I would want to know how much is needed to start a mining pool that would be profitable. I have read that mining alone is not really worth it these days as the difficulty is rising and cloud mining is the easiest way to get scammed.

[odolvlobo]

May I ask how mining works? What is the minimum capital requirement for mining. I can have access to cheap electricity but I would want to know how much is needed to start a mining pool that would be profitable. I have read that mining alone is not really worth it these days as the difficulty is rising and cloud mining is the easiest way to get scammed.

Profitability varies greatly. It is mostly determined by the cost of electricity. There are major factors other than profitability, such as heat and noise and your time. If you are in a situation where you can mine profitably, then you will need one of these at a minimum: https://shop.bitmain.com/market.htm?name=antminer_s9_asic_bitcoin_miner

[linyhan]

If your electricity is free then bitcoin mining is so profitable  and can make you a millionaire someday,and if not then bitcoin mining is a waste of time.

[odolvlobo]

If your electricity is free then bitcoin mining is so profitable  and can make you a millionaire someday,and if not then bitcoin mining is a waste of time.

Well, becoming a millionaire from mining is not easy. If you spend $150000, you can buy 100 AntMiner S9s that will get you about 0.04% of the total hash power. 0.04% of the total hash power mines about 277 BTC (currently worth about $330000) per year. You will mine your $1 million in about 3 years.

Many people confuse money made by mining bitcoins with money made from holding bitcoins. Very few people have earned a $1 million from mining, but many miners have held onto their bitcoins, and they are now worth more than $1 million.

[Indrawan77]

The price is up but the difficulty also rise, its not that profitable now, and cloud mining is not recommended to try,mining profit is little you better find other to invest

[terrate]

No . it is difficult to profitable.
Altcoin mining better than bitcoin mining.

bitcoin difficulties and some increased fees will eat u.