About to start Mining

[crypcoinmonster]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

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[J. Cooper]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

It really depends on how much machines you can mobilize to focus on mining bitcoin. You really have to do the math yourself, there are plenty of mining calculators out there that can give you  a solid estimate as to how much you will be earning hourly, daily, monthly and annually. You also need to take electricty and hardware costs into account.

[monkeydominicorobin]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

Never believe the propaganda about mining farms. Those are fraudsters at work. They are showing you the hardware but they are not showing you the internet connection routers. You cannot mine with electricity alone. This fraudsters are making you feel inferior by making you think that they can set it up on their own. They can't. Most of them are so stupid themselves. Bitcoin mining will always be profitable. Don't believe the stupid YouTube videos about mining farms. It is a sleight of hand. After the camera stops rolling. They will close the circuit breaker.

[madwica]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

For me yes, bitcoin mining is always profitable base on the actual experience of mining, me and my friend are now using antminer D3, we are happy in the result of generated bitcoin everyday we are now planning to add equipment for much better result. All our mined bitcoin was kept it in our offline bitcoin wallet to make it safe and we sell it when it can purchase new antminer again.We are hoping that next year would be more profitable for miners like us, 

[Emoclaw]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

For me yes, bitcoin mining is always profitable base on the actual experience of mining, me and my friend are now using antminer D3, we are happy in the result of generated bitcoin everyday we are now planning to add equipment for much better result. All our mined bitcoin was kept it in our offline bitcoin wallet to make it safe and we sell it when it can purchase new antminer again.We are hoping that next year would be more profitable for miners like us, 

The Antminer D3 does not mine Bitcoin but DASH, what are you even talking about?


OP, yes it's still profitable provided you have relatively cheap electricity. You'll have to take care of cooling and maybe (most likely not) power capacity upgrades in the area where you plan to mine depending on how many miners you're going to purchase.
Keep in mind that the money you'll make is not much, keep in mind that you will also have to buy new miners when they come out because the old ones become obsolete almost immediately.

[thanhhavu]

It hardly profitable right now because a lot of miners and difficulty has increased day after day

[Steamtyme]

What you need to do is figure out what your local electricity costs are. Then look into what it would cost you to get your hands on a Miner, used can be okay but if you want to make a profit and are new I suggest buying a new piece of equipment. I chose the Avalon 741, because I need the reliability, and can afford to pay a little higher in electricity costs.

Take that information to a profitability calculator and punch in the data. This will tell you how profitable it will be with a snapshot, then add say 1.5 months to your ROI to estimate difficulty increases. You can also try to find ways to improve your efficiency depending on your climate. My miners will run in my basement to contribute to my overall heating costs.

Good luck

[mace029]

Im planning to build a mining rig, do you guys know how much it cost? And what are the tools needed?

[wavelengthsf]

Im planning to build a mining rig, do you guys know how much it cost? And what are the tools needed?

You can't build Bitcoin rigs. You buy them pre-built - they're between $1000 - $2000 for current generation miners.

[playking]

yes its profitable if you have good mining hardware

[DrFonissa]

Im interested in mining too.. i guess ill have to look into the forum on topics related to hardware etc..but i think it should be profitable with new coins coming out all the time and their value increasing in the future.

[Aidarkali]

If  I would start BTCmining this year do you guys think that it would still be profitable?  After all there is already lots of miners out there not counting the farms. 

Never believe the propaganda about mining farms. Those are fraudsters at work. They are showing you the hardware but they are not showing you the internet connection routers. You cannot mine with electricity alone. This fraudsters are making you feel inferior by making you think that they can set it up on their own. They can't. Most of them are so stupid themselves. Bitcoin mining will always be profitable. Don't believe the stupid YouTube videos about mining farms. It is a sleight of hand. After the camera stops rolling. They will close the circuit breaker.

very helpful!

[Johntata]

Is it hard to mine bitcoin?

[Steamtyme]

Is it hard to mine bitcoin?

Look up a few posts in  the thread, this already points to you needing to step up your research game. This forum has tons of info just spend some time reading up.

[Invinover]

Guys,

How to calculate hashing power of my own PC?

[NotFuzzyWarm]

Guys,
How to calculate hashing power of my own PC?

For Bitcoin? Forget it as BTC mining has been ASIC only for a few years.
For altcoins - post in the altcoin areas as this one is for BTC only.

[codem0nkey]

Even if it's not profitable, it is quite the amazing learning experience.

[pxo.011]

can anyone discuss me how much earn in 4x gtx 1050ti for etheruem mining

[goldchain]

can anyone discuss me how much earn in 4x gtx 1050ti for etheruem mining

If you're mining Ethereum, maybe you can look on this thread: https://bitcointalk.org/index.php?topic=1691798.0

According to the members, the average hashrate would be around 22-24 MH/s (the data can be various from time to time)

[pxo.011]

can anyone discuss me how much earn in 4x gtx 1050ti for etheruem mining

If you're mining Ethereum, maybe you can look on this thread: https://bitcointalk.org/index.php?topic=1691798.0

According to the members, the average hashrate would be around 22-24 MH/s (the data can be various from time to time)

tnx mate