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Author Topic: Is it worth it to start mining  (Read 328 times)
JoeyPappas
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December 07, 2017, 11:21:17 AM
 #1

Hi guys I'm coming into some money soon and was wondering if its worth to mine coins? Also how can I find a list of coins that are mineable.


Bitcoin just jumped to the moon so would it be worth to mine bitcoin?
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xenomorphe1
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December 07, 2017, 11:25:51 AM
 #2

It may be worth to start mining. It depends of what hardwares you have. For mining Bitcoin, you need special hardwares.
If you are from Russia, there may be a ban of mining or creating new coins:
https://www.ethnews.com/russia-weighing-ban-on-cryptocurrency-mining

Cereberus
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December 07, 2017, 12:15:34 PM
 #3

It all depends on bitcoin price now as the daily rewards in bitcoin has fallen down yet it still is profitable to mine. Why ?

Because if you build a mining rig with 6xRX570 4GB (with bios mod) you make daily 0.002 btc and 0.06 btc monthly or at worst case 0.05-0.055 btc monthly. With the bitcoin price near 15k or even pass it at a moment, this is 750 USD or 900 USD monthly. Cost of all total rig is 2400 USD so in 3 months you got your investment back.

It all depends on how you look at it, from which perspective.

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jillscarbrough
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December 07, 2017, 12:19:03 PM
 #4

Also how can I find a list of coins that are mineable.
Bitcoin just jumped to the moon so would it be worth to mine bitcoin?
List of the Altcoins can be mining: https://www.coinwarz.com/cryptocurrency
yes, you can mining bitcoin if you have Asic like Bitmain (https://www.bitmain.com/) or Avalon.

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Fretcy
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December 07, 2017, 01:35:58 PM
 #5

Mining is a good option to start of with crypto currency as this is the easiest way to earn good set of crypto currencies be it bitcoins or any other altcoins for  mining you need ASIC machines, in the early stages of bitcoins it was possible to mine with normal CPU but now every three to four years the level of difficulty on mining increases and it requires more electrical energy to mine bitcoins which is not profitable, if you have good power generated machines and mining rig it will help you get good profits and solar panels or any other renewable source of energies such as geothermal energy or wind to mitigate the electrical energy will help you earn profits in mining bitcoins. For mining altcoins GUI will help to mine many altcoins which helps to maximize more profit and can help to take you to the next level mining by earning more profits.

sys039995
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December 07, 2017, 02:29:45 PM
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Why do not mining other cryptocurrencies, the relative difficulty is low, shallow power is huge

tenebriscaelum
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December 07, 2017, 03:54:30 PM
 #7

Yes it is specially that the cryptocurrency market is already booming with the right components along with the right altcoins to mine then you can earn profits. As of the time of writing this BTC is around 16k from 3k from last August/September so that is around 530% up of its value and it is still going up so investing on a mining rig with the right altcoins is the profitable choice as of now. Also if you are good at trading then your profits will more than quadruple its value. I would suggest that go and build your mining rig with 2 or 3 GPUs to get a hang of it then add more GPUs if you earn getting to know what you will be diving to is a much good approach than putting all your money if you have any doubts.

Trade_BTC
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December 07, 2017, 08:00:27 PM
 #8

Its not worth it, would you start a restaurant business if you knew nothing about it? Buy coins mining takes a long time to truly master.
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