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

[Wayan_Pedjeng]

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

bitcoin difficulties and some increased fees will eat u.

I agree with you. But which altcoin should we mine? These altcoins are even more unstable than Bitcoin. They can increase in exchange rate by 1,000% in the span of 24 hours, and later in almost no time the rates can crash to the previous levels.

[Lizzie_Girl]

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/.

No just because the price went up doesn't mean the difficulty will stay the same. The ratio will be similar. It is not that easy to say. There are lots of other factors to consider as well.

[p3ppymon]

Is it worthy to invest into a USB miner at the moment?

[Maheshkumar_Hrangkhawl]

Is it worthy to invest into a USB miner at the moment?

I have the same question. They are inexpensive, and easily available when compared to the mining rigs. But are they worth the money and effort?

[jorneyflair]

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/.

The increase of the bitcoin price doesnt means it is a better time for mining, because the difficulty of mining blocks is rising constantly.
Newbies and un-experienced cryptocurrency investors might think like that, but it will be helpful for a short amount of time, but it isn't worth it to build bitcoin mine just because you may get bigger profits from that, but during short period of time.

As odolvlobo has already said, it is better to go with altcoins mining, because there is always a chance that you will be into the correct cryptocurrency when its price will increase in the same time when you already had some of this altcoin.

[molsewid]

Even if the bitcoin price will decrease into 1000 or maybe 900 dollars those beginner who are willing to buy bitcoin and then stock on there bitcoin wallet / blockchain account they can still make profit there if bitcoin price start increasing.

[squatz1]

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..

This right here, I want this post and my post to serve as a PSA that just because it looks profitable does not mean that this whole mining then won't become saturated very soon based on the amount of money there is to be made. People are going to have to understand that it's only going to last a short while until some fat cat buys ass loads of ASIC's and sets up his new farm.

Also, the price does nothing with profitability minus the exchange part of it. Difficulty determines all of this.

If I was new, I'd get into altcoin mining, seems to be much more worth it and more profitable as I do it with my 1080 graphics card on my gaming rig when I'm not using it and make about $3 a day when I'm not using the computer. Passive income which is instantly converted to BTC through nicehash.

[christie]

i think it's too hard for amateurs to earn profit from mining bitcoins. the ASIC equipments are so expensive and obsolete too soon to get your investment back.

[Stedsm]

i think it's too hard for amateurs to earn profit from mining bitcoins. the ASIC equipments are so expensive and obsolete too soon to get your investment back.

Not just amateurs, but most miners may not receive their expected shares because the difficulty is also increasing at a consistent pace with the increase in number of users joining the bitcoin movement daily. But still, those who were in before and made much coins would definitely buy back through their profits to run the network and turn that mining into profits too because they must be having a planned mindset for the same.

[retampan]

of course its profitable, but you have to wait approximately 1 year

[_nur]

1300 tops until segwit implemented

[xypos]

of course its profitable, but you have to wait approximately 1 year

That is not like that, you have to wait about 1 year but only if you mining project is already launched.
First of all, it is profitable only for a big players that are able to invest big piles of bitcoins into it, or just large quantities of cash.
Otherwise, you are not going to make the profit because the difficulty will still rise with every new machine starting mining, and the halving is getting closer and closer.

Bear in mind two things: don't go into bitcoin mining if you are not ready to spend at least dozen of thousands $, and dont go into bitcoin mining if you dont have cheap electricity.

[Mike Mayor]

Is it worthy to invest into a USB miner at the moment?

I have the same question. They are inexpensive, and easily available when compared to the mining rigs. But are they worth the money and effort?

If you talking about the sha256 algo block erruptors then no that will not be good and never pay you back. It will cost more then you get back. I'm unsure of you get us block erruptors for other algos but that would be my best bet. I'm also interested in getting one but o ky for altcoins. Though I'm pretty sure if you can use block erruptors that asics will just blow us out of the water or other better block erruptors if asic is not an option .

[Zicadis]

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

bitcoin difficulties and some increased fees will eat u.

increased fees should scream good business for miners especially that there is a recommended floor price(fee) of 0.0001btc which has changed for some time and wont be reduced anytime soon maybe not until the price goes 5fold but better mine altcoins for maximsed profits

[Kanine Awe]

It's no longer profitable for most to mine unless they have extremely cheap electricity which especially in America is really hard to come by.

[Tyrantt]

I may be wrong but I don't see any connection to the price of bitcoin and the mining being profitable again (lower difficulty?). :/ Don't think that bitcoin mining will be profitable until maybe some better miner is introduced? You'd be better off mining some alt-coins instead of bitcoin.

[yatogami]

i think, for mining bitcoin now is not profitable because the Diff is to damn High, i not recomend you to mining bitcoin now, but you can mining other cryptocoin with the low Diff and still make you profit.

#minexcoin.com

[yatogami]

It's no longer profitable for most to mine unless they have extremely cheap electricity which especially in America is really hard to come by.

yes true, mining bitcoin now is really not recomended, because few factor like cost for electrical and etc.

#minexcoin.com

[sikke]

i think, for mining bitcoin now is not profitable because the Diff is to damn High, i not recomend you to mining bitcoin now, but you can mining other cryptocoin with the low Diff and still make you profit.

#minexcoin.com

The mining does not work like that, it is always profitable but only if you can meet some requirements, but if you cannot- then you should not even consider it as some kind of an investment.
Without really cheap electricity, or some different power source such as renewable energy e.g from wind powerplant, you want be able to get decent returns every month, you will just probably waste your money for the electricity costs and mining machines.

You also should never involve yourself in mining, if you are not into technical stuff, such as coding, programming etc. It is because you need to have knowledge about the whole bitcoin and blockchain, and it is very important to know what is the most efficient way to use your mining rigs. Without that, you will be just a pimple for other people taking part in the mining competition.

[Ricoend]

Did minning is good sollution for beginner to earn btc? Because i read some thread and it explain need much cost to minning bitcoin.