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Author Topic: How profitable is it to enter into the mining business now?  (Read 1146 times)
bandish
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July 18, 2017, 02:42:51 PM
 #1

I have been trading cryptos for about a year now. I want to start mining myself now. But from what I read, mining bitcoins is a fairly expensive task, and difficult too. But there are altcoins that should be much more easy and highly profitable to mine. Can anyone throw some light on this aspect as I am really really up for mining. Please mention what altcoins are the best to go into.
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July 18, 2017, 02:45:00 PM
 #2

You'd be looking at about a 200-250 day ROI for any rig you build, price of electricity depending.

I wouldn't advise it.

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July 18, 2017, 03:13:45 PM
 #3

Depends on electrical cost, location, cooling costs, etc. Add to that the fact that the price of BTC is fluctuating wildly due to the possible fork and it is rather risky even though with the high prices nowadays you can attain ROI in less than 300 days in most cases, as difficulty continues to skyrocket. As a rule of thumb, electrical costs above $.10/kWh are not going to be very profitable for mining.

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July 19, 2017, 06:39:16 AM
 #4

You'd be looking at about a 200-250 day ROI for any rig you build, price of electricity depending.

I wouldn't advise it.

I wouldn't advise it either. A 200-250 day ROI would be okay in other circumstances but there are too many risks (like price fluctuations, equipment failure, etc) that could extend that ROI indefinitely.

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Apened
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July 19, 2017, 03:15:25 PM
 #5

I have been trading cryptos for about a year now. I want to start mining myself now. But from what I read, mining bitcoins is a fairly expensive task, and difficult too. But there are altcoins that should be much more easy and highly profitable to mine. Can anyone throw some light on this aspect as I am really really up for mining. Please mention what altcoins are the best to go into.
Well it's truly and expensive expenditure but in the future when your mining is continuously working then you will have a good profit income there. Something like a passive income for everyday which you have othing to do with is to maintain only the conditon of your mining rig,computer and some neccesary needed attention in your mining .

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July 19, 2017, 04:23:48 PM
 #6

I have been trading cryptos for about a year now. I want to start mining myself now. But from what I read, mining bitcoins is a fairly expensive task, and difficult too. But there are altcoins that should be much more easy and highly profitable to mine. Can anyone throw some light on this aspect as I am really really up for mining. Please mention what altcoins are the best to go into.
Well it's truly and expensive expenditure but in the future when your mining is continuously working then you will have a good profit income there. Something like a passive income for everyday which you have othing to do with is to maintain only the conditon of your mining rig,computer and some neccesary needed attention in your mining .

Mining could be fun. It is learning while having an avenue for investment. It surely wasn't easy but mining is the place for the diligent and to people who are willing to take some time to wait and to risk.


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July 19, 2017, 08:03:33 PM
 #7

I'm a complete noob to mining and just bought an Antminer S5 (i got free electricity currently) was thinking about looking in to altcoins with it.
mostly for fun and to learn, ROI within 5 months (acording to noob calculations)  Grin

Bitcoin: 1NPYaNSnNWMZasPKXjfkaB3tsuXGiSPp2k
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July 20, 2017, 08:35:04 PM
 #8

is mining the same thing as ICO?
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July 21, 2017, 05:05:08 PM
 #9

is mining the same thing as ICO?

No, Ico is for startups.

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July 22, 2017, 06:53:28 AM
 #10

You'd be looking at about a 200-250 day ROI for any rig you build, price of electricity depending.

I wouldn't advise it.

here is for bitcoin, and you are looking with cheap electricity for only 5 months roi with an antmienr s9, bought in second hand and not new, but then you have the diff that increase, but you have also bitcoin value that increase

not much of a gamble anymore to take part in the miningactivity, i think it's doable, especially if the value will go very high after segwit
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July 22, 2017, 08:10:44 PM
 #11

You'd be looking at about a 200-250 day ROI for any rig you build, price of electricity depending.

I wouldn't advise it.

here is for bitcoin, and you are looking with cheap electricity for only 5 months roi with an antmienr s9, bought in second hand and not new, but then you have the diff that increase, but you have also bitcoin value that increase

not much of a gamble anymore to take part in the miningactivity, i think it's doable, especially if the value will go very high after segwit
If the value is rising mining is profitable, that's correct, but buying and holding while it rises is just as profitable. Not much of a challenge there.
When the value is relatively steady, mining becomes much less profitable thanks to rising difficulty, but it's doable, just like you've said.
The problem starts when the value starts dropping. A holder can sell his coins almost instantly, but selling a miner is much harder.


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CryptoBry
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July 23, 2017, 03:49:57 PM
 #12

You'd be looking at about a 200-250 day ROI for any rig you build, price of electricity depending. I wouldn't advise it.

Investing in mining equipment requires some capital and it can take some time before anyone can recoup back his capital though comparing to more known traditional businesses this can still be worthwhile to consider especially now that Bitcoin is back on the rampage and there is a possibility that soon altcoins will also be joining the up/up/away/party.


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