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Author Topic: Is it still worth mining bitcoin in 2018 ?  (Read 2244 times)
TitanAI
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January 25, 2018, 09:06:45 AM
Merited by Wapinter (1)
 #1

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

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January 25, 2018, 09:11:58 AM
Last edit: January 25, 2018, 11:32:53 AM by semobo
 #2

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
I think there are some other similar threads are available on our forum so it is better to search before asking questions.

The bitcoin mining profits maybe not effective because of increase in the mining difficulty of bitcoin but it still give earnings.
I suggest you to mine monero because difficult level is very less and the coin is also undervalued so if you can mine some monero nowadays it will give good profits when its price bumps.GPU mining is the best available way to mine monero.

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January 25, 2018, 09:33:17 AM
 #3

I did search and no relevant answers were found, just dead or old threads without any replies.

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January 25, 2018, 09:35:45 AM
 #4

There are more threads on the similar topic, But to answer your question, It is very hard to mine BTC as of today assuming the high electricity costs that are involved apart from setting up your mining rig. SO I would suggest you to forget it Smiley

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January 25, 2018, 09:57:54 AM
 #5

Nowadays bitcoin mining is not that profitable for end users, the ones that are profiting right now are the big comapanies that have warehouses full of processors dedicated to just bitcoin mining. For you to have profit you would have to make a big inicial investment in asics or so and there should be probably a long roi... so i wouldn't recommend it

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January 25, 2018, 10:24:08 AM
 #6

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
Mining is the best platform because it is decent profit in every month. But it take more power consumption so many users are avoid the mining platform. I prefer mining is good profitable platform because I use solar power supply in my mining rig so it is reduce my power consumption bill. In many countries governments are strictly avoid the mining. Because mining platform is consuming more consumption this reason is major issues in this platform. So you should use solar power you can earn more profit.

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SamReomo
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January 25, 2018, 10:33:05 AM
 #7

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
Yes, Bitcoin mining is still profitable even these days and it can make you some good profits if you have a good ASIC miner like "Bitman  Antminer S9." But, like other mining rigs it will still depend on the cost of electricity, and if you have access to free electricity then profits are good enough.

Mining other alternative coins is also profitable, but unfortunately they can only be mined with GPU-miners that aren't pre-built by companies like "Bitman," but can be easily made by locals who are good at hardware stuff. Ethereum is more profitable as compare to Bitcoin, and with a good GPU-Rig one could easily expect 160 MH/s with 6 GPU-Rig.


You can also calculate mining profits with online calculators like that of crypto-compare. The calculator gives you accurate profits that you earn from mining different coins.
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January 25, 2018, 10:39:25 AM
 #8

today the remaining bitcoin is only 4 million, and I think it's a bit late for mining. especially with a system that has not been normal, so it can disrupt the transaction. today I think everybody prefers trading rather than doing mining. and both generate huge profits.
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January 25, 2018, 10:40:05 AM
 #9

The profit depends on the rate on your electricity bill. But I think it's not a bad idea to mine with the Antminer S9 as I expect the price of Bitcoin to recover in the next coming weeks. I can encourage mining from different places in the world to keep the network decentralized.
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January 25, 2018, 10:44:11 AM
 #10

Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial-level venture. The easy money was scooped out a long time ago and what remains is buried under the cryptographic equivalent of tons of hard rock.

The sad truth is:

Only those with specialised, high-powered machinery are able to profitably extract bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered setups will find more money is spent on electricity than is generated through mining.

In other words, mining won’t be profitable at a small scale unless you have access to free or really cheap electriciy.
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January 25, 2018, 10:44:34 AM
 #11

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
Of course it is still worth it to invest in bitcoin mining. actually mining bitcoin gives the fastest return of invest compared to other investment in just a year you will get your ROI but it is still depends on how much hashing power your mining hardware setup or how effective it is. if you are planning to do bitcoin mining but only want to invest couple of asic miners forget about it becaise i dont know if it will be profitable.
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January 25, 2018, 10:46:09 AM
 #12

I read on some forums and facebook groups that mining bitcoin is not profitable now so they convert to altcoins mining. But it still depends on your specs, how much it costs you to build it and your monthly utility bills. Still profitable but I think mining altcoins is more profitable now.

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January 25, 2018, 10:49:22 AM
 #13

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
I'm bit confused about it. Because the beginning of 2018 is very bad. Bitcoin still not recovered from this crisis. So I'm waiting for the further movements,then only we can take a decision.
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January 25, 2018, 10:58:28 AM
 #14

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?
Of course it is still worth it to invest in bitcoin mining. actually mining bitcoin gives the fastest return of invest compared to other investment in just a year you will get your ROI but it is still depends on how much hashing power your mining hardware setup or how effective it is. if you are planning to do bitcoin mining but only want to invest couple of asic miners forget about it becaise i dont know if it will be profitable.
That differs from time to time, GPU mining seems to be more profitable than ASIC mining, looking at this website: https://www.cryptocompare.com/mining/#/equipment
Also hashing power doesn't really influence your ROI, hashes per price unit do. It doesn't matter whether you have a machine with 100 Mhash/s for $100 or a 200Mhash/s machine for $200, as you'll have the same ROI.
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January 25, 2018, 11:05:13 AM
 #15

I read on some forums and facebook groups that mining bitcoin is not profitable now so they convert to altcoins mining. But it still depends on your specs, how much it costs you to build it and your monthly utility bills. Still profitable but I think mining altcoins is more profitable now.
I also read that too in a site, still uncertain if we should agree to that or disagree. But I think that whoever wants to mine bitcoin can do so if they have calculated or do an estimate of their profit after all expenses on electricity or software. We may be neglecting bitcoin mining now, when the price pumps up watch how most people will rush back to it. Bitcoin mining can't be quited so soon.
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January 25, 2018, 11:16:16 AM
 #16

Bitcoin mining is not advisable as earning profits as of now. I did not try to mine because all of my friends are withdrawing in mining. They said that it is just a costly and not anymore profitable. However, we can earn with mining but I think it is now good to mine in altcoins.

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January 25, 2018, 11:23:57 AM
 #17

it is always worth mining bitcoin because bitcoin has a good future and with the price rise of it, you will always make more and more profit from what you have earned. so the risk is minimal. but  at the same time it is hard to mine it so you have to consider that also.

it is probably best to start with mining altcoins. specially if you are observant enough to switch fast between them and mine the coin that is getting pumped and dump your mined coins fast during the pumps to make the most amount of profit.

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January 25, 2018, 11:24:43 AM
 #18

Imo it isn't worth it to mine bitcoins in 2018 as the current electricity rates are very high (especially in India) and even Nvidia declared that they don't want to sell GPUs to miners but they want to sell them to gamers as they get feedback from them.

Keeping the hardware and electricity issues aside, the difficulty while mining has increased as well and this is becoming a lot more competitive than expected.

Therefore, I don't think that investing in a mining rig would be profitable in the current scenario.
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January 25, 2018, 11:46:17 AM
 #19

Mining it profitable but you have to think long term. You should keep the mined coins for few years. This means you need to invest some money out of own pocket on equipment without any earning for that time.
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January 25, 2018, 12:03:15 PM
 #20

Mining it profitable but you have to think long term. You should keep the mined coins for few years. This means you need to invest some money out of own pocket on equipment without any earning for that time.


Yes mining is really profitable you should really think for it but base on some lititle birds I know you can barrow on banks now a days because bitcoin is getting long which people acknowledge now a days.

with think he money you barrowed you can buy a mineral or ASICS. 


Bitcoin mining is not advisable as earning profits as of now. I did not try to mine because all of my friends are withdrawing in mining. They said that it is just a costly and not anymore profitable. However, we can earn with mining but I think it is now good to mine in altcoins.

Well not because of you friends will not try anymore to invest in mining. Did you try to ask them why? What are the reasons of there widrawal?. Here is a little tip don't follow on what your friends doing be strong and be independent on things, try to separate yourself from them.
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