Mining - altcoins is it still profitable?

[Bazanga]

Hello community!
I a programmer and product developer and started to be interested in mining to late I think... (correct me if I'm wrong). So the question for you experienced miners is:
Is the mining still profitable? Bitcoin,zcach,bitcoin cash,monacoin? What mining device you recommended to start with (around 4k$ is a budget for start). Thanks in advance! 

[Metroid]

If you invest right now, you will get those $4k back in 2 years or so if you are an experienced miner, if not then expect 3 years or so.

[Sev18]

GPU mining became worse compared to 4-5 months ago.
ROI seems to be about 15 months. Start mining ethereum with 6 way rx580 mining rig or GTX 1060.

[JamesAdams]

In general, yes it is still profitable but the ROI has gone down by a lot. Right now the best coin for AMD is Ethereum (if I'm not wrong) and for Nvidia cards ZCash.

[ghost424]

I think it will be profitable if you start at a early time mining it. The prices of cryptocurrency is still fluctuating and if you are mining Altcoins that have a high price, then it will be profitable. You can also mine starting altcoins because they may have a high value in the future and that will be very profitable. You can also mine them and horde them and wait for the prices to go skyrocket. Everything is worth a try.

[Deathwing]

Not profitable as it was before when Ethereum first started rising through Coinmarketcap and Whattomine. Lots of rigs got put up and difficulty of Ethereum rose a lot. Currently, you are looking at a several year ROI unless you find a new coin that has a low mining difficulty with high yield of fiat.

[Phantoms001]

I don't think its too late if your smart.  If you think you are going to use 4K to "buy" profitability, that simply is going to be a bridge too far...You are far better off buying coins and waiting for them to rise.  I'm starting to see more and more people day trading coins rather than mining (ie.  pick a price point, buy the dips and sell the highs).  I haven't seen a day that bitcoin was flat.  To buy bitcoin and sell it when its up 30.00 is pretty simple.  To build a rig that mines 30.00 a day is not so simple nowadays. 

I am unclear why anyone would run out and buy new gear at this point.  You are going to pay 200-300 for a card that makes 1.00 a day -electricity, and it could be less next week.  In that aspect, its not worth starting to mine.  If you were to start using used gear cutting the price and break even point in half, I don't see anything wrong with that. 

In all commodities, profitability starts when you buy, not when you sell.  What you buy is going to determine how successful you are.

[BobBoulder]

I have to admit that not so long ago I also asked the same question. The answer you are looking for is not the same for everyone. A lot of factors influence whether mining is profitable eg. the price of electricity, the price at which you would buy equipment and so on. I am now two months in mining. ROI will be at least 12 months. The starting point for you should be some of the web services that calculate profitability in relation to your parametars.

[Hariz]

Mining ROI is no longer attractive unless you live in a place where utility rates are cheap and you don't have to invest capital to build a rig from scratch. You'd be better putting that money on ICO / emerging Altcoins.

[dragon002]

Do yourself (and us) a favour and stay well clear!

[salvibd]

It is profitable where electricity supply is ample and energy cost is low. Then, return on invest could easily overcome despite all market related problem.

[xxcsu]

Hello community!
I a programmer and product developer and started to be interested in mining to late I think... (correct me if I'm wrong). So the question for you experienced miners is:
Is the mining still profitable? Bitcoin,zcach,bitcoin cash,monacoin? What mining device you recommended to start with (around 4k$ is a budget for start). Thanks in advance! 

Here you can find some answers

[Helioshel]

Hello community!
I a programmer and product developer and started to be interested in mining to late I think... (correct me if I'm wrong). So the question for you experienced miners is:
Is the mining still profitable? Bitcoin,zcach,bitcoin cash,monacoin? What mining device you recommended to start with (around 4k$ is a budget for start). Thanks in advance! 

Yes it is profitable and it will be profitable in the near future. Try to find some services which can count a mining profit.

[flip4flop]

It may not be profitable short term but long term it will be profitable. I dont understand how people can say its not profitable.  While it will take a long time to recoup initial cost if the market stays exactly the same, roughly 12-13 months.  After that you will be returning a small profit.  The market drops obviously you will need to take long but if it increase you will begin to see profits sooner.  If all else fails GPU usually retain good resale value and you could recoup some of your costs if you want out at any point.

[Brondo76]

Mining Bytecoin

http://mine.klondikepool.com/

Undermine unknown coins
Accumulate many
Wait until the value rises

Bytecoin suspicious movements, tendency to a sudden upward

 

[riils]

Since I (and most people here) believe that crypto will still grow by orders of magnitude in future, ROI is pretty much guaranteed. But if you want fast return, just spend your 4k buying coins.

For some upstart coins in early stages, you can use your mining power as alternative "buying" option.

[brianna isa]

While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoins, many of the alternative digital currencies are still well suited for mining on your home PC.

In this guide, we’ll take you through all you need to know to start digging up a few litecoins, feathercoins or dogecoins without any costly extra equipment.

For the most part, cryptocurrencies employ either SHA-256 or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt.
Scrypt tends to be the more memory intensive of the two – however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are no dedicated ASICs to compete with – yet.

Perhaps surprisingly, it’s still possible to use just your computer’s CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics; though this may not prove terribly effective and is not a set-up we would recommend.

1.Wallets at the ready
2.The need for speed
3.Solo, or with the crowd?
4.Installing your CPU miner
5.Writing your script
6.Setting up your GPU miner
7.Watching your miner
8.Maximising your power