Bitcoin mining should be profitable now

[revo999]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

[7788bitcoin]

Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.

The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.

[DoublerHunter]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

It is only profitable if you got a lot of money for investment or capital to buy the things that is required for mining. In our country it needs at least 3000 USD for a startup for having a mining rig for bitcoin mining and you will need to wait at least 10 months before you get your ROI which is a lot of months to wait but after that all your earnings are just profit.

[NoNetwork]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

Mining is not as profitable as in the past, and mining bitcoin is not easy like the new digital currencies, if you want to mine bitcoin, you need a high end hardware for that, and also a good internet. And even if you buy one, electricity is also a problem, I think mining another good or new digital currencies is good and then try to convert it to bitcoin.

[northstarh]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

Yes, I understand that, when the transaction fee is higher, the miners can exploit more, but to become a miner we need a lot of money to invest, and I can not afford to do it.

[Sniper44]

bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.

also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.

[bitcampaign]

check this bro https://alloscomp.com/bitcoin/calculator

[dothebeats]

Profitable if you have the hardware to mine however if you are going to rely on cloud mining, then it's best to just keep your coins instead. If your hardware isn't powerful enough to give sufficient hashes then try not to mine bitcoin directly but look for other altcoins out there.

[SamsungBitcoin]

Profitable if you have the hardware to mine however if you are going to rely on cloud mining, then it's best to just keep your coins instead. If your hardware isn't powerful enough to give sufficient hashes then try not to mine bitcoin directly but look for other altcoins out there.

Individual mining is not too good to mine bitcoin but if you have a big capital to invest i think it will be work and get some profit. I strongly agree that you need to have powerful mining rig to make your mining much successful that is why big capital is required for this.

[algernonen]

Profitable
You have to think about the cost of electricity and the cost of hardware

[Ayers]

Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.

The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.

home mining is very profitable because the value is very high now, wy you say it's not profitable? electricity, has a very little impatc with bitcoin at $2k, only in the case you pay very high electricity like 50 cent you can't have your roi fast, and home mining don't require low temperature because you are working with 2-3 asic at best

[alani123]

Cloyd mining is nkt the way to investbinto bitcoin mining. If you are looking for a trust less way to earn from mining then owning your own equipment is the way to go but not many thing other than that can be considered investments I to mining

[bartolo]

The reason why mining is more profitable is the increase in the price of Bitcoin last year, doubling its value. This could attrack new companies that could be interested in mining which would make more competition in the sector.

[matrix zion]

Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.

The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.

Aaaaaaaaaaah it depends.
Well I'd say you're right 95% of the time though
But electricity cost is rather low in some area, and the most interesting is to mutualize costs.
I don't know how it works for you but here I buy electricity on what I consume but the price decreases if I announce the company I'll buy more.
So we gathered with a few neighbours and made a common contract to share the bill.

Could work the same way for home mining I guess!

[Janation]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

Mining is not as profitable as in the past, and mining bitcoin is not easy like the new digital currencies, if you want to mine bitcoin, you need a high end hardware for that, and also a good internet. And even if you buy one, electricity is also a problem, I think mining another good or new digital currencies is good and then try to convert it to bitcoin.

That's right, mining nowadays is not as profitable as mining in the past when bitcoin's price is at cents. It is profitable, but you need a good mining rig at your home to do that. For example buying a mining hardware costing $1900 to $2100, you also need to buy some cooling fans for that. Let's say you are mining $130 worth of bitcoin every week, and with your electric consumption, it will not still cover up the money you bought for the rig.

It will still take months before you get back your capital. But after that, it will be all your profit.

[krisnt80]

I believe mining still a profitable activity, cloud mining is very different real mining, but the fact is to you mine a block you need a lot minign power, the most miners now does mine into pools where the fees are shared between, with those extra satoshis i do believe mining still one of the best sources of income, for those with electricity lower then 0,10/kw.

[piebeyb]

You need to use a calculator for the calculations that really mature so as not to take the quick way to get rich, at least the mature calculation is great for preventing big losses later on

[HanSchultz]

Cloyd mining is nkt the way to investbinto bitcoin mining. If you are looking for a trust less way to earn from mining then owning your own equipment is the way to go but not many thing other than that can be considered investments I to mining

You wont be able to juice out much profit with cloud mining sites and it is hard to get your returns in due time and if you could invest that money somewhere else you could possibly earn more than what these cloud mining sites offer.I would suggest someone who is interested to mine start from alt coin mining as you could  assemble something and start mining at home.

[hase0278]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

It won't be profitable at all I think OP especially that you made a cloud mining site an example since they won't last long there is a chance that you won't get the return of your investment. It would be profitable if you have the hardware for mining and the country you lived in has low electricity cost but if not then mining using hardware would also be not profitable. It would be better to just invest that money you want to invest onto somewhere else.

[-ck]

Bitcoin mining should be profitable now as

Bitcoin fees are much higher now

Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest

10Gh is a pitiful amount of hashrate and anyone selling you that is selling you effectively nothing for a little bit of money from those who don't understand this. 10GH isn't enough to even register a payout from a pool if you mine there for a year; it will always be below dust limits.