Mining cost

[Mostafiz]

as I know there is a huge electricity bill to mine Altcoin.& the ring cost also high.any one pls tell me the total cost of a bitcoin mining setup.

[Deathtiny]

as I know there is a huge electricity bill to mine Altcoin.& the ring cost also high.any one pls tell me the total cost of a bitcoin mining setup.

Depends on your setup. Learn how much cents/kw your electricity costs from your provider, then multiply that by how much the devices you want to use spend energy. For example, Antminer S9 uses 1325 Watt if I remember correctly.

[MadMac]

Not worth anymore, I did this some years ago for Feathercoin. Waste of time and money.

[MoonIsBlue]

I don't know a lot about mining but I do explore the subject and I see that most people are able to pull of a profit about double of their electricity costs. I think it also comes down to chosing the right coins. You can also mine with tool programs such as Nicehash which finds the most profitable coin to mine at that moment and pays you in BTC for the effort.

I'd say browse youtube there's a lot of good information there concerning mining.

[MadMac]

The problem with those pools is that they don't pay out until you have quite some amount of coins mined. So you basically let your computer run forever, never reach the limit and the pool takes the bounty.

You can still mine some low value altcoins like Aeon or Bytecoin, but it's not really worth it, other than for the experience.

[Stgsurya]

The short answer would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors.
In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.

[Boriss]

For someone profitability is one thing for others with long term investing it is something else.
People are always looking for simple answers.

If you want something simple don't do any mining just go and buy some coins on market.

[rodskee]

as I know there is a huge electricity bill to mine Altcoin.& the ring cost also high.any one pls tell me the total cost of a bitcoin mining setup.

mining is long term investment, the capital for mining its depend on your set up and the speed of the gadget you use, the electricity cost for mining i think  not more than 20% of your daily profit.

[Katalyst]

Depends on how cheap you can get the hardware. Usually however the difficulty level rises erode most of your chances of turning a profit unless the coin massively increases in price over time. Also keep in mind that unless you are pretty tech savvy, troubleshooting a mining setup will be hell for you or you may even burn down your house (or facility).

[MadMac]

mining is long term investment, the capital for mining its depend on your set up and the speed of the gadget you use, the electricity cost for mining i think  not more than 20% of your daily profit.

Well, you could just use that investment to buy the coins straight from the market . I don't see any point in mining.

Look at Aliexpress, they sell the 2014 ASIC cards for 40 bucks now, they are no longer profitable. Take that 40 bucks and buy the coins you think appreciate. Simple.