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trevos
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July 12, 2013, 12:19:14 PM
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Hello,
I wanted to mine some bitcoins, but is it still profitable now?
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The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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ldcnxaag
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July 12, 2013, 01:11:29 PM
 #2

Hello, also new here! Tongue

To answer your question (even though there is lots of info about this in the forum, read here: https://bitcointalk.org/index.php?topic=15918.0), it could be profitable if you have powerful mining equipment right NOW! Difficulty increases every now and then and eventually you'll need quite a lot of hashing power to be able to profit from it. Here is a profit calculator: http://www.bitcoinx.com/profit/
Wubwig
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July 12, 2013, 04:13:31 PM
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I feel like mining is best left to 'professionals' who can afford a big powerful rig, otherwise it just seems like a waste of time...
medinscot
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July 12, 2013, 05:02:27 PM
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Hello,
I wanted to mine some bitcoins, but is it still profitable now?

It depends on how much you are prepared to invest "now".
ryhan
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July 12, 2013, 05:08:10 PM
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I hope so as im planning to to invest around £3-5k into an asic mining rig.
PenS
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July 12, 2013, 05:17:14 PM
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Like any investment you need to weigh your risks rewards. What I am doing is purchasing as they continue to fall... however I am also investing heavily in rigs. Either build your own or search here on the forum to read reviews on companies that are building/selling them.

Best for luck... it is still extremely new and a needed source outside of the over regulated financial industry!
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July 12, 2013, 05:35:46 PM
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I agree with @PenS... it would be nice if someone came up with a ROI calculator though. Would make it pretty easy to see how long it "should" take to recoup your investment.
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July 12, 2013, 05:42:12 PM
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I'm in the market for a decent rig as well.

I currently have a single Block Erupter with 4 more on the way and I also have 10 BFL Jalapenos that may ship one of these days.
Moneymaker1990
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July 12, 2013, 05:42:55 PM
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I have 3 BlockEruptors, very nice for what they are.
clearcrystal
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August 01, 2013, 08:46:44 PM
 #10

currently only with ASICS

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Litecoin4me
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August 02, 2013, 11:28:45 AM
 #11

Yes it is profitable.
clearcrystal
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August 02, 2013, 11:42:53 AM
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And welcome by the way!

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sr_miner
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August 02, 2013, 12:19:29 PM
 #13

Welcome on the board  Wink

and yes it is profitable...
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