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Author Topic: Bitcoin Mining , Is it worth it?  (Read 522 times)
joms123
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February 21, 2018, 12:49:02 PM
 #1

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

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February 21, 2018, 01:03:59 PM
 #2

First of all, it should be noted that all methods of extracting crypto currency using home computers, and even more so mobile devices, have long lost their meaning.

For several years, the miners have been using specialized high-power ASIC equipment. Modern models of these devices several times exceed the performance of video cards. When buying, you need to focus on powerful devices, the cost of which is thousands of dollars. Of course, getting 1 Bitcoin right now is impossible in this way. As evidenced by the reviews of the miners, the equipment pays for itself and brings a tangible income over time.
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February 21, 2018, 01:10:37 PM
 #3

It is not a good idea to do it now. There is a lot of competition happening and the difficulty gets higher.

If you really are into mining then better look for another coin. But I bet there will be more out there considering popularity are in the hands of the ICO's now.
They have their own number of coins and there is no mining needed.
You will need a lot of capital for this to be successful.

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February 21, 2018, 01:22:35 PM
 #4

Yes, Mining bitcoin is worth it. If you're willing to wait until you recover your investment in buying hardwares, maintenance and electricity. Actually building mining rig is not for a simple investor because you really need a high amount of investment and patience as well.

I also live in PH and just like what you've said the electricity bill here is a little bit high, If you're going to invest money why don't you try trading or investing to ICO's? since you can easily earn once the token increase price or the coins you bought increase it's price sometimes you can instantly earn profit in just a matter of time unlike the mining you need to recover the electricity bills you paid, investment to hardwares and maintenance. But to answer your question yes it's worth it if you have a lot of investment.

Remember to invest only what you can afford to lose and don't take risks if you're afraid to lose your money/investments.

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February 21, 2018, 01:23:12 PM
 #5

Everyone has his own experience and his point of view, but it really does not look profitable and effective. Mining really needs a lot of capital to buy powerful equipment, and you will not get a quick profit. But if you have extra money, then why not try it.

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February 21, 2018, 01:27:19 PM
 #6

Yes, Mining bitcoin is worth it. If you're willing to wait until you recover your investment in buying hardwares, maintenance and electricity. Actually building mining rig is not for a simple investor because you really need a high amount of investment and patience as well.

I also live in PH and just like what you've said the electricity bill here is a little bit high, If you're going to invest money why don't you try trading or investing to ICO's? since you can easily earn once the token increase price or the coins you bought increase it's price sometimes you can instantly earn profit in just a matter of time unlike the mining you need to recover the electricity bills you paid, investment to hardwares and maintenance. But to answer your question yes it's worth it if you have a lot of investment.

Remember to invest only what you can afford to lose and don't take risks if you're afraid to lose your money/investments.



Agree! Crypto mining is a long term thing. At first you won't make anything. But after the first year, if yourequipment isn't broken, the price of each coin is equivalent to the electricity you usedto mine it.

If you don't have a huge bankroll, then you should just trade.
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February 21, 2018, 01:33:24 PM
 #7

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
Are you a Filipino?
Well, bitcoin is not anymore profitable in Philippines since there is a high cost of electricity and we all know that mining uses current so much.
I want also to try mining of bitcoins but I am doubting if I will gain or loss my capital.

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February 21, 2018, 01:48:41 PM
 #8

Hello guys, I have a friend who told me about BITCOIN MINING.
What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
No. If you want to try mining, you should try altcoin mining
pick a potential new altcoin, mine as much as you can, hodl awhile and keep watching the market
when the price soar high, sell all your coins and continue mining only if it is still profitable
otherwise just find another potential altcoin and repeat

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February 21, 2018, 01:51:55 PM
 #9

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
Bitcoin mining is good profitable platform but your country is not suit for the mining so don't invest in now. If you want to invest in mining you should try solar power it is reduce the electricity but it is little difficult because some countries are always cloudy season it is affect everything. The only trick is invest Bitcoin or altcoin it is the best way to protect your investment and it is huge profitable platform.

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February 21, 2018, 02:05:00 PM
 #10

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
Bitcoin mining is good profitable platform but your country is not suit for the mining so don't invest in now. If you want to invest in mining you should try solar power it is reduce the electricity but it is little difficult because some countries are always cloudy season it is affect everything. The only trick is invest Bitcoin or altcoin it is the best way to protect your investment and it is huge profitable platform.
Definitely it is worth considering solar energy but also natural cold is a plus (you do not have to pay extra for cooling your equipment). Probably they are exclusive, either you have lots of sun or you live in a cold climate.

Anyway, mining may be worth undertaking, but first you need to do your research, select the target coin(s), figure out equipment needed (mining & cooling), find a space to set it all up (it is awfully hot and loud), calculate in the energy bill and your time, both to set things up and later to monitor the whole operation (keeping stuff up and running and cool).
And you need to somehow factor in future prices of your coins and the future difficulty as well. It requires a lot of research and hard work before you even start to set things up.

It is good you start here by asking your question, but you will not find all the answers here, you will need to do a lot of research mate.

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February 21, 2018, 02:07:35 PM
 #11

if you are planning to build bitcoin mining you need a huge capital amount to buy hardware. mining is profitable specially if you have wide knowledge on how to care and maintain your hardware and how to choose good alts to mine. and then if you really want to try mining in the philippines expect the high cost of your electric bill per month.

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February 21, 2018, 02:19:13 PM
 #12

Bitcoin mining is very valuable and requires little capital.

If you want to try mining, you should try altcoin.

Actually building a mining rig is not for the simple investor because you really need a high investment and patience too.

Remember to invest only what you can lose and do not take risks if you are afraid of losing your money / investment.

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February 21, 2018, 02:22:11 PM
 #13

I personally haven't and don't plan to do any mining, but a friend of mine has been mining in the Middle East for the past couple of months. He doesn't mine Bitcoin, but various altcoins, switching depending on return. Electricity cost by region is obviously a factor, but one factor I hadn't considered is that the increased benefits of mining a particular coin in different regions. He told me that he was mining Smartcash and was getting 4-5 times the returns daily that he would be getting in the Americas. I haven't seen his results, but I believed him. Does anyone else have any experience regarding this?

P.S. Plus he is also in rented accommodation with electricity included, so that's an added bonus...

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February 21, 2018, 02:39:39 PM
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(-snip-) the increased benefits of mining a particular coin in different regions. He told me that he was mining Smartcash and was getting 4-5 times the returns daily that he would be getting in the Americas. I haven't seen his results, but I believed him. Does anyone else have any experience regarding this?
I can't think of any reason it may be possible. He connects via some ISP and from that moment the process is location-agnostic from what I know. Maybe he means that his electricity bill is lower than in Americas ?
P.S. Plus he is also in rented accommodation with electricity included, so that's an added bonus...
you know that it is a kind of a freud and he can be held responsible for it?

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February 21, 2018, 02:42:53 PM
 #15

With the high price of electricity in my country, mining is not worth it. And just the technical skills and the setting up part can killed me, so i am not giving it a go.

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February 21, 2018, 02:45:28 PM
 #16

it is better not to do bitcoin mining right now, because now the level of difficulty and competition between miners is getting higher.
and most importantly about mining, the negative impact is: mining spends too much fossil fuel power
You know? it will cause damage to the environment due to the consumption of electricity on a large scale, while coal, natural gas, petroleum as electricity decreases.
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February 21, 2018, 02:47:07 PM
 #17

Bitcoin mining currently won't be quite profitable I think as there are already many miners there and also the equipment they use are very expensive and also very powerful when compared to any graphics card. If you wanna go for mining try some other coin like Ethereum or any other coin maybe there you can get some profit out of it.
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February 21, 2018, 02:50:28 PM
 #18

it is better not to do bitcoin mining right now, because now the level of difficulty and competition between miners is getting higher.
and most importantly about mining, the negative impact is: mining spends too much fossil fuel power
You know? it will cause damage to the environment due to the consumption of electricity on a large scale, while coal, natural gas, petroleum as electricity decreases.
Ordinary poople get more and more concerned about protecting environment and it is good. I would be only happier if as much attention as some people devote to it, were devoted to protecting our environment by governments, large corporations (Exon, Volksvagen etc) and other polluters blinded by money and profits.

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February 21, 2018, 02:51:21 PM
 #19

With the high price of electricity in my country, mining is not worth it. And just the technical skills and the setting up part can killed me, so i am not giving it a go.

Expect high prices of electrician, mining equipment is very expensive, setting up that equipment comes later, and I heard that can be hard too. You need to have some technical knowledge.
One of my acquaintance started to mine ethereum month ago, he paid more then 3000 dollars for rig, and now he is a eth miner. That is sure cheaper option, that's is why many people are turning to other alts. Bitcoin is just to expensive to start, I'm sure that if you have enough money it can be good, later you can earn and upgrade your mining rigs, but that a lot is really a lot for start. Probably its best to check other options, mining other alts can be profitable, match your rig with good alt to give you best mining results.


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February 21, 2018, 02:55:36 PM
 #20

For the people who have the money to invest and also have the rig could mine. But at this moment I don't think mining would be worth it. A few years back there were a few number of the miner and it was profitable for them. But now there were many miners and it's very costly and takes a huge amount of time to mine. So as my opinion, I don't think its worth it.

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February 21, 2018, 02:56:01 PM
 #21

(-snip-) the increased benefits of mining a particular coin in different regions. He told me that he was mining Smartcash and was getting 4-5 times the returns daily that he would be getting in the Americas. I haven't seen his results, but I believed him. Does anyone else have any experience regarding this?
I can't think of any reason it may be possible. He connects via some ISP and from that moment the process is location-agnostic from what I know. Maybe he means that his electricity bill is lower than in Americas ?
P.S. Plus he is also in rented accommodation with electricity included, so that's an added bonus...
you know that it is a kind of a freud and he can be held responsible for it?

It is possible that I misunderstood what he was saying regarding the regions, I'll have to check with him again. Like I say, I don't do mining at all, so not really too knowledgeable on the subject. The fraud thing I don't think is an issue, he gets an unlimited amount of electricity included in his monthly rent. Maybe depends on location around the world, but it's not an issue here, as it's clearly written in the rental agreement that electricity is included. That's one of the main reasons he started mining, it's a big saving over time.

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February 21, 2018, 03:05:15 PM
 #22

I think it's not worth it for small capital traders and investor to have a bitcoin mining because of the increasing electricity charge and the value of the GPU's in the current market is extremely high for the moment. But if you can have a hundred of mining of rigs and a nice and cool place to start your mining it definitely worth if you can mine ETH or other altcoins because mining bitcoin is not advisable because of its block are harder to obtain.

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February 21, 2018, 03:06:39 PM
 #23

(-snip-) the increased benefits of mining a particular coin in different regions. He told me that he was mining Smartcash and was getting 4-5 times the returns daily that he would be getting in the Americas. I haven't seen his results, but I believed him. Does anyone else have any experience regarding this?
I can't think of any reason it may be possible. He connects via some ISP and from that moment the process is location-agnostic from what I know. Maybe he means that his electricity bill is lower than in Americas ?
P.S. Plus he is also in rented accommodation with electricity included, so that's an added bonus...
you know that it is a kind of a freud and he can be held responsible for it?

It is possible that I misunderstood what he was saying regarding the regions, I'll have to check with him again. Like I say, I don't do mining at all, so not really too knowledgeable on the subject. The fraud thing I don't think is an issue, he gets an unlimited amount of electricity included in his monthly rent. Maybe depends on location around the world, but it's not an issue here, as it's clearly written in the rental agreement that electricity is included. That's one of the main reasons he started mining, it's a big saving over time.
You know, if he comes from a region where electricity is as cheap as you say, to the point that it is given for free, then it makes sense that he can earn more profit compared to some other country (with more expensive electricity). Maybe this is what he ment.  Electricity cost is the major factor to consider in setting up the mining operation.

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February 21, 2018, 03:15:40 PM
 #24

Yes, Mining bitcoin is worth it.it really does not look profitable and effective. it need huge  electricity but you can't get profit at least for your electricity bill.
so i am not going to do it. Roll Eyes
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February 21, 2018, 03:17:45 PM
 #25

Hi! We both from the same place and as I can see there's a difficulty now in buying mining equipment especially videocards because I heard it from my friend that the supplier is limiting people that every households should only have a maximum of two videocards or maybe this is only applicable where I am living. I myself mining a btc right now with just 1 videocard and I pay less in our electricity so my advice is when you don't pay for electricity or the equipment you bought was cheap then you'll get back your capital in a short period of time.
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February 21, 2018, 03:20:28 PM
 #26

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
It is worth it if you can afford to buy multiple mining hardwares that can produce a lot of hashrate to compete with other people that mines Bitcoin. I'm also from that country but I think it is not a good idea because of the weather, it is a tropical country so the temperature is high so if you will setup a mining farm you will need to have a place with very good ventilation or an air conditioner to keep your hardwares cool and also electricity is more expensive compared to other country. There are some that do altcoin mining here, maybe you can try that instead of Bitcoin mining because there are lots of competition.

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February 21, 2018, 03:21:20 PM
 #27

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I think you need a good equipment to do this mining work.
Whether it worth or not all count on your fortune as the price today of bitcoin can assure your profit as you get one or more.

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February 21, 2018, 03:24:08 PM
 #28

yes bitcoin mining is worth it if you can handle it will and if you have wide knowledge regarding mining. yes you are right mining consume too much electricity in the phillipines and doing mining also need huge capital to assemble mining hardware. so if you are planning to invest besure that you are ready to all expenses which you will spend.

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February 21, 2018, 03:29:19 PM
 #29

You should calculate the cost of mining one BTC with the price of electricity in your country. The profit of mining changes from country to country and time to time. It may be profitable in your state.

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February 21, 2018, 04:22:01 PM
 #30

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

Bitcoin mining is really hard now a days and your miner would need to really have a lot of computing power to efficiently mine bitcoin though I suggest that you mine altcoins instead of bitcoin. They are easier to mine though much lower in value they could prove to have more potential to grow compared to btc.

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February 21, 2018, 04:23:52 PM
 #31

Hello There! I'm also from PH. Mining bitcoins is really worth it. However, you need to take risk first for the investment on the equipments you will be using, it costs a lot of money. If you have just enough funds, don't go mining. I suggest you'll go trading bitcoins you can make fortune out of it.
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February 21, 2018, 04:24:32 PM
 #32

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I think it might be right for you to dig up bitcoin. First you need to invest a lot of money to buy equipment, and then you need to look for cheap power sources so that you can maximize your profits. It takes a long time to earn back the principal.
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February 21, 2018, 04:28:04 PM
 #33

This is a simple question with a complex answer. There are a few different factors that influence whether or not Bitcoin mining will be worth it for you. Even with the rising Bitcoin price, the set-up fees and electricity costs may outweigh the revenue that you’d earn through mining.

The primary factors that affect your Bitcoin mining profitable are:

Mining difficulty and rewards
Hash rate
Operational costs
Mining difficulty and rewards

The mining difficulty determines the complexity of the algorithm you need to solve when creating a new block of transactions. As more miners join the network, the difficulty increases making Bitcoin harder to mine.

Bitcoin mining difficulty

The reward for mining a block is currently 12.5 Bitcoin. This reward is cut in half every 210,000 blocks with the next “halving” set to occur in 2020. Ideally, the price of Bitcoin will increase enough to outweigh the continuing decline of the mining reward.

You should also factor in the conversion rate of Bitcoin to fiat if you plan on cashing out at any time. With the volatility of Bitcoin’s price, this could greatly affect your profitability.

The biggest unknown when calculating your projected Bitcoin mining profitable is the amount of yearly profitability decline. No one knows how many miners will continue to join the network, so it’s nearly impossible to calculate just how much your revenue will decrease each year.

Hash rate

The hash rate is the speed at which your mining rig can solve the algorithm needed to mine new blocks. Although a mining rig with a high hash rate may seem nice, they usually cost significantly more to purchase and operate.

When choosing a miner, you should first figure out how long you’d like to mine for. If you’re only planning on mining Bitcoin for a short amount of time, it could be advantageous to pick up a less expensive miner. Even though the hash rate may be lower, you may be able to pay off the initial purchase cost at a faster rate.

Operational costs

There are a few different costs you need to consider when calculating your Bitcoin mining profitability.

The electrical costs differ based on your electricity rate and the power consumption of your mining rig. Mining rigs are usually listed with their typical power consumption, and you can find your electricity rate on your power bills.

Bitcoin miners

To mine effectively, you’ll need to join a mining pool and pay the associated pool fees. A mining pool is a group of miners that work together to mine blocks at an increased rate. The reward of each block is then split amongst the miners enabling you to get paid more regularly. These fees range anywhere from 0% – 5%.

You should also include the upfront cost of buying a mining rig when calculating your potential profitability.
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February 21, 2018, 04:30:17 PM
 #34

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I personally am not a miner, but personally, my opinion is that it is better to invest this money in some coins including BTC. And part of them even for daily trading, which would lead to more profits. BTC
This is my opinion. Good luck  Smiley

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February 21, 2018, 04:33:26 PM
 #35

I think if they are mining ETH using graphics cards then they may have a fighting chance. Mining in a country with high cost of electricity is not advisable as the bill will consume most of your income, not to mention the maintenance of your rigs. Mining bitcoin is out of the question with these countries I think.

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February 21, 2018, 04:34:12 PM
 #36

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
If electricity is expensive, don't bother.

The lowest electricity rates around the world are around 3 USD cents and less per KWH, so that's your target when performing a cost analysis and will determine your profitability.

There's also further discounts for large industry scale operations on the hardware itself.

So unless you have very cheap access to electricity you won't be competitive in the long run and will eventually, not immediately, go out of business.

Unless you have a lot of Bitcoins already and want to hedge by mining I wouldn't personally bother with it. And even then, you would have to make sure to either have cheap electricity or otherwise find a cheap colocation (which carries some counterparety risks that need to be considered).

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February 21, 2018, 04:34:21 PM
 #37

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I think home mining is not effective especially if electricity is expensive. It will be profitable if you have 100+ miners and separate building for this purpose with cheap electricity

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February 21, 2018, 04:36:38 PM
 #38

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

If your electricity cost is expensive, it is not feasible to mine bitcoin. You should try to calculate your mining profits using website like whattomine.

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February 21, 2018, 04:43:09 PM
 #39

Bitcoin mining is a serious business now and we should leave it for those who treat it in that way so if you don't have any idea about mining then I would recommend you to do your own research without relying on the others opinion or projected profit amount. Spend some time in reading the previous posts about mining and then take any decision.

Bonus tip: Stay away from cloud mining kind of concept because it is something that either turns into a scam or loss-making entities so it does it doesn't make any sense, in my opinion, to go with that way.

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February 21, 2018, 04:57:17 PM
 #40

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I think things are no longer so pink for BTC's diggers.
This will cost you a lot of electricity, finances for equipment , and so on. If you think you will be profitable, I do not know. This is a tough choice. I personally count on investing and holding.

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February 21, 2018, 05:00:06 PM
 #41

It depends from country to country because the hardware and electricity can be of different rates. In my country the cost of resources is more than what i will get from mining. So its not worth it for me.

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February 21, 2018, 05:01:58 PM
 #42

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

If your electricity cost is expensive, it is not feasible to mine bitcoin. You should try to calculate your mining profits using website like whattomine.

This reason is enough for you to tell bitcoin mining is not worth for you. my suggestion is better to stay away from this plan and now Mining machines are too costly. Invest that money in different crypto currencies wait for few months you can make a double profit.

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February 21, 2018, 05:09:12 PM
 #43

If you decide to do bitcoins mining for investment and profit, you are likely to face one serious problem: most sites on this topic are created for advanced users. If you are not a professional programmer, you have no experience working with Ubuntu and Linux, and there is only a little experience of using a Mac or PC, this text will help you start with the basics.
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February 21, 2018, 05:23:01 PM
 #44

I'm not even familiar with it
If you're not familiar then you should start investing with knowledge and giving time for it.
Electricity here in PH is so expensive.
If you are so worried about the electricity, then don't push it. You can migrate in some countries that does have low a very low rate for electricity consumption and mine there like Venezuela.
Do you have some tips and tricks?
You can also invest to solar panel. I'm not a bitcoin miner as I can't avail it but that's what I read in some miners group.



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February 21, 2018, 05:32:55 PM
 #45

Well, If you have a big amount of extra money, you can go for it. The price of the equipments are really high but you will get a stable amount of bitcoins everyday. It's just take time for you to get your ROI and dont expects early payouts especially if you don't have a very powerful hardware.

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February 21, 2018, 05:56:21 PM
 #46

Mining requires a larger initial investment than day trading, but you are in it for the long term. Doing a little research before purchasing a miner can pay in dividends. I recommend using a coin calculator website such as whattomine, this allows you to gauge what is currently profitable. Beginning with Altcoins then eventually getting into BTC mining is a great way to get started. With a little patience, the return on investment will come!

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February 22, 2018, 10:08:21 AM
 #47

Thanks for your ideas , I've really appreciaciated it. Maybe , I should invest or trade my remaining btc in order to grow my financial needs. I'm totally agree most of those feedbacks. Thanks again

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February 22, 2018, 11:40:25 AM
 #48

I think it is not worth it for those whose country has high electricity charge like in your country Philippines, But if you got a high capital and can make atleast 50/100 mining rigs you can overcome the elecricity fee but the problem will arise on the temperature of it you need a well ventilated place just to be sure not to catch a fire or overheating in the mining rigs. It is worth it for the country that has a low electricity charge.

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February 22, 2018, 11:59:54 AM
 #49

Bitcoin mining is still a viable method of earning bitcoin credits only if you have the proper equipment, has a good background knowledge, connected to a stable internet connection, and is knowledgeable with troubleshooting in case something undesirable happens. All this conditions must be met to ensure a quality bitcoin mining experience.
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February 27, 2018, 08:03:44 AM
 #50

Marinecoin is a friendly and powerful platform. The processing speed is 500% faster than bitcoin, which makes the time shorter after each transaction.
Participating communities around the world and friendly. You join the Marinecoin community, you will be rewarded with a gift for your participation (450000 MTC)
Join the Marinecoin community and grow it even further.
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February 27, 2018, 08:17:04 AM
 #51

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

Instead of mining bitcoins go for other coins for example radium or strat etc etc, Go for those coins which are using proof of stake or poof of capacity
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February 27, 2018, 08:20:39 AM
 #52

if PH power in your place is expensive not good to do mining.
tips from me better buy alt coin when ICO takes place because most of them now is very profitable than to do mining that must have big capital.
and other tips you can also invest in bitcoin after that exchanged with alt coin.
Good luck.


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February 27, 2018, 08:28:22 AM
 #53

I have tried it, and I would say that Bitcoin mining is by no means profitable for small-scale and medium-term players, even if you are getting the electricity for free. It will take many years for you to recover the expenses which you incurred to purchase the mining rigs.

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February 27, 2018, 08:38:34 AM
 #54

I tried it in past and it wasn't profitable while bitcoin price was under 2000$ that time and electricity costs was way more than that, so I stopped it, but I think with current rates it can get changed.

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February 27, 2018, 08:55:00 AM
 #55

Depends how much you pay for miners and whether the price of btc goes up. if you buy Antminers S9 now with money earned from BTC you will not profit.
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February 27, 2018, 10:55:36 AM
 #56

If you have a  money to start a bicoin mining. Its worth it, it  is because bitcoin mining has a stable income it can give you income every month. You can manage your electeic bill after you will earn and manage your bitcoin mining.

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February 27, 2018, 10:56:58 AM
 #57

Bitcoin Mining is a peer-to-peer computer process used to secure and verify bitcoin transactions—payments from one user to another on a decentralized network. Mining involves adding bitcoin transaction data to Bitcoin's global public ledger of past transactions. Each group of transactions is called a block. Blocks are secured by Bitcoin miners and build on top of each other forming a chain. This ledger of past transactions is called the blockchain. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce bitcoins into the system. Miners are paid transaction fees as well as a subsidy of newly created coins, called block rewards. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system through mining.
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February 27, 2018, 11:02:03 AM
 #58

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

If you have the resources to start mining then yes, mining is worth an investment but remember to study first the methods of extracting cryptocurrency out of mining process. It would definitely take you some dollars to fully maximize your assets and have a bigger gain than what you expense.

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February 27, 2018, 11:03:50 AM
 #59

In my opinion it is not worth it, because the first,mining machine bitcoin is very expensive, so you need to invest a lot of money, and then if you do not have cheap electricity, so your income may be low.

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February 27, 2018, 11:03:57 AM
 #60

Philippines have expensive electrcicity it's not porfitable to mine unless you are in the other location for sure you will start mining .
You can start trading buy a coin and hold it brcause mining and trading is also look like same.

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February 27, 2018, 11:16:02 AM
 #61

If you have the modalities and it is convenient with you it is a good idea but in a situation were you lack the amenities in mining, i think it is useless trying to get into what you can,you will run into loss or not achieve your goals 

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February 27, 2018, 11:24:31 AM
 #62

As far as i know mining gets a huge profit after getting or mined a bitcoin but the set up isn't easy to build. Mining rig really need a big amount of fund which will be needing for a place to place it, buy its parts and gears and specially you will buy a time ( figuratively speaking) you really need to sacrifice your time to build it as its parts isn't easy to find where else.

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February 27, 2018, 11:38:23 AM
 #63

Bitcoin mining is the most popular income on the crypto world. There are two biggest way to earn bitcoin. The 1st way is mining. If you want to start mining, you have need some mining hardware to start mine bitcoin. Bitcoin mining is a smart way to earning money.
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February 27, 2018, 11:42:26 AM
 #64

we must not be indiscriminate origin mining.we must to know which coins we will mining and how the prospect of the coin in forward. should be calculated also with the cost incurred with income per day whether this loss or profit

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February 27, 2018, 12:00:15 PM
 #65

Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

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February 27, 2018, 12:49:57 PM
 #66

It is VERY UNLIKELY that you can make a profit nowadays from Bitcoin mining. If you have to pay electricity its normal price, you have no chance. If Bitcoin price should ever tank, you lose. If you don't make a ROI is a reasonable time, your mining equipment will be obsolete. So many variables, and only a few set of circumstances would allow you to profit. Very risky.

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February 27, 2018, 01:05:06 PM
 #67

As far as i know mining gets a huge profit after getting or mined a bitcoin but the set up isn't easy to build. Mining rig really need a big amount of fund which will be needing for a place to place it, buy its parts and gears and specially you will buy a time ( figuratively speaking) you really need to sacrifice your time to build it as its parts isn't easy to find where else.

Its going to be well worth it to have a rig if btc pumps up well. Or other alts for that matter like eth and ltc. There are fees that you pay to mine and if btc drops too low, sometimes its hard to break even. You have to be prepared to wait quite a time to even get your capital back

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February 27, 2018, 01:10:49 PM
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Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

See for altcoin mining there are the different protocols that support a specific coins or a group of coins. Mining them might be worth it if you think they are going to boom in future. You can always buy a GPU and mine ethereum with it or ethereum classic because both run the ethhash protocol. However keep in mind the power costs, pool costs and cooling costs.

For bitcoin mining though its almost impossible to get a good ROI in the current scenario. We dont have huge amount of land to make mining farm nor do we have enough rigs to get a decent ROI in a limited amount of time.

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February 27, 2018, 02:32:08 PM
 #69

It depends where you are located and what is your electricity cost. I have a few mining rigs with friends and we will move them to a nearby country when we make 100 of them because electricity is very expensive here in Italy. I would suggest you building a 6 gpu mining rig as they make right now 0.0012-0.0013 btc dail with Rx series and modified bios. Of course as long as your electricity is lower or equal to 0.08 Usd kwatt. This is considered a profitable level until now.

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February 27, 2018, 02:33:33 PM
 #70

Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

See for altcoin mining there are the different protocols that support a specific coins or a group of coins. Mining them might be worth it if you think they are going to boom in future. You can always buy a GPU and mine ethereum with it or ethereum classic because both run the equihash protocol. However keep in mind the power costs, pool costs and cooling costs.

For bitcoin mining though its almost impossible to get a good ROI in the current scenario. We dont have huge amount of land to make mining farm nor do we have enough rigs to get a decent ROI in a limited amount of time.

Ethereum and Etherum classic run Ethash algorithm while Equihash is for Zcash and Bitcoin gold.

Sorry for two posts in a row but am on mobile.

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February 27, 2018, 02:41:39 PM
 #71

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
which I experienced when mining coin is very profitable. try to compare with working in the factory. without having to think and slam your bones already earn income through mining. I hope you soon follow the bitcoin miner and enjoy the results.

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February 27, 2018, 02:53:48 PM
 #72

 In my opinion is that it is better to invest this money in some coins including BTC. mining equipment and electricity costing so high if u can mage it u can do it .

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February 27, 2018, 02:54:56 PM
 #73

I think holding Bitcoin is Worthing. I think it's a good strategy for business. But yes if that person thinks that I will hold Bitcoin for a long long time without investment then I will call him/her greedy. Bitcoin value is increasing day by day. The last year that is 2017 was a perfect example of this increasement. So if you don't invest then the value won't increase. Not only that if everyone start to hold Bitcoin then it will lose it's familiarity. So, instead of holding for a long time I think everyone should invest it in trading. But for a short period of time holding Bitcoin is not worthy rather it is a smart strategy.

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February 27, 2018, 02:57:57 PM
 #74

AS long as you have the mining equipment I don't see why it wouldn't worth. Go for it

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February 27, 2018, 02:59:55 PM
 #75

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
If still people are mining it could be possible that is worth still. All depends on what you pay for your electricity in your country and off course what hardware you are using to mine the BTC

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February 27, 2018, 05:23:54 PM
 #76

Yes it is. Did you know you can generate Bitcoins by using a special computer? This lesson is all about Bitcoin mining - the way Bitcoin are "born". We will explain what mining is, how to become a miner and what you should take into account before taking your first steps.
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February 27, 2018, 05:32:46 PM
 #77

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I don't think it's a good time to invest in mining bitcoin. First, you need a lot of money to buy equipment, and you need to do your best to find cheap electricity. It takes a long time to gain. And now that the price of bitcoin has dropped a lot, it will prolong your earnings.
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February 27, 2018, 05:47:36 PM
 #78

Bitcoin mining is profitable up until now you should do some research and as for more infos about mining in this forum. Mining has become one of the best way to earn btc in this industry. Many people became rich because of mining at first you will spend money for the hardware but less than 1 year you will profit more than you spent for the hardware.

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February 27, 2018, 07:18:25 PM
 #79

Everyone has his own experience and his point of view, but it really does not look profitable and effective. Mining really needs a lot of capital to buy powerful equipment, and you will not get a quick profit. But if you have extra money, then why not try it.
Yes, to exploit a mine requires potent equipment to get the best profit but this is very difficult to implement because the machine to operate today is very expensive, you can perform the Bitcoin But are you sure it will be profitable when you plant it? I see very few miners today because it needs patience

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February 27, 2018, 07:58:53 PM
 #80

Its no more worth---you have to be in Venezuela to make it worth--or just buy some altcoins--you need to find gems out of rocks dont run behind bitcoin craze!

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February 27, 2018, 08:03:53 PM
 #81

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy

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February 27, 2018, 08:12:52 PM
 #82

Bitcoin network difficulty is a measure of how difficult it is to find a hash below a given target.

The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Bitcoin mining pools also have a pool-specific share difficulty setting a lower limit for shares.

The Bitcoin network difficulty changes roughly every two weeks or 2,016 blocks.

There are all types of cloud mining options for other forms of blockchain

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February 27, 2018, 08:42:00 PM
 #83

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy
Even though mining isn't good for now due to high competition and blocks are hardly to find but we really need them also.  Because they are a part of a block chain technology,  we need more miners to fasten our transactions daily and to find more blocks in addition to the existed numbers that are mined already.  Thus, it really needs a huge amount of capital to spend on these and considering a possible high cost of electricity usage that sucks our profit.

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February 27, 2018, 08:45:23 PM
 #84

Mining is not a good way to earn at the moment when the mining difficult of Bitcoin is increasing day by day but it's a safe way to earn Bitcoin cause you'll never being scammed by anyone. But I think instead of investing your money in mining Bitcoin why don't you invest your money to buy Bitcoin directly? I think it's better than mining, you just need to buy Bitcoin then hold and you don't have to care about so many things like when you join mining.

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February 27, 2018, 08:47:23 PM
 #85

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

Bitcoin mining will be only worth depending on the electricity consumption you are getting monthly, the best thing is to canvass and plan on what hardware you will be getting in order to determine if you will be gaining profit or not before starting to run a mining rig.

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February 27, 2018, 09:00:32 PM
 #86

It depends on the cost of electricity first of all and then you should have the right hardware and of course enough time and patience.


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February 28, 2018, 07:00:32 PM
 #87

First of all you need mining gear and space where you can mine because of heat and possibly sound.
Then I would check out whattomine dot com, type in electricity your costs and hashrate of the equipment you could buy and voila there you can easily see if it is worth it.
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February 28, 2018, 07:08:38 PM
 #88

I think it is profitable. Even though it is not as much as earlier but it is definitely worth the effort. I would still suggest mining other coins instead of bitcoin because I think they would be more profitable.

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February 28, 2018, 07:12:14 PM
 #89

Bitcoin mining is extremely expensive these days. You can not mine bitcoin with a low investment. You have to buy at least a couple of antminers and have a cheap electricity.
Cloud mining can be done, but I do not recommend. There is a risk of being scammed or hacked everytime.
You can mine altcoins however. All you need is graphics card used in gaming computers.

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February 28, 2018, 07:15:02 PM
 #90

Bitcoin mining is worth it when the value of bitcoin is low. You will mine faster with a reasonable hashrate. But it isn't profitable when the value of bitcoin is high because it will be very slow and you will end up spending more on electicity bills.

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February 28, 2018, 07:34:19 PM
 #91

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

In the PH (NCR), electricity cost around 0.19$ per KWh plus the difficulty of BTC so you are losing money than earning if you mine BTC.
I know you are a filipino too, I highly suggest to look for the filipino inventor who invent (recently) a self-efficient electricity generator which produce 1000W.
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February 28, 2018, 07:34:31 PM
 #92

Energy is expensive and politicians do not want mining companies. Politicians are hampering crypto money mining. Mining equipment is expensive, too much capital is needed. I do not recommend investing in mining.

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February 28, 2018, 08:42:53 PM
 #93

Mining is quite profitable if you have cheap eletricity and a good supplier which will sell you equipment for lower price.
It is common for large mining farms to mine in places which have cheap electricity. GPU mining became popular recently which caused huge rise of GPU prices. Bitcoin mining requires special ASIC miners which mostly can be bought from Bitmain which is China based company. That's why some people don't trust it.

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March 01, 2018, 02:58:27 AM
 #94

bitcoin mining is still worth because bitcoin demands still very high and the values too.
if bitcoin mining was not worth, there would be no miners working to mining bitcoin.

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March 02, 2018, 05:41:38 AM
 #95

Yes it is worth it for bitcoin mining but you are just only waiting while bitcoin miner are still decreasing so and it is very slow to earn. We just need to pay some money in a store like 7 eleven to boost our bitcoin miner so we  can earn fast while waiting and we dont need to worry about bitcoin coz it is legal for my country philippines but i didint know if the bitcoin are illegal in other country...  Grin


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March 02, 2018, 05:49:05 AM
 #96

Start to mining bitcoin is not worthy unless you don't have huge capital to invest.  Because competition is very high. If we consider the price of mining equipment and chargers for electricity, that didn't return the profit. I think trading and invest in ICO is more profitable than mining nowadays.

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March 02, 2018, 06:01:37 AM
 #97

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy
Yeah for the long term certainly bitcoin mining is not a good choice, bitcoin will be increasingly difficult to be mined, but for mining altcoin may still be worthed. there are lots of altcoins that can be mined you can try them. the cost of electricity will also affect your profits. if you don't want to avoid the electricity costs you can try mining sites or try to mine using vps or RDP

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March 02, 2018, 07:39:48 AM
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there are so many mining sites mining apps, but not all are legit, most of them are fake, but i believe that mining is legit , just make sure that the mining sitee that you use is legit, be sensitive in finding mining site most of those sites and apps are fake.

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March 02, 2018, 07:44:05 AM
 #99

the strategy is also good for mines altcoin when altcoin prices are too expensive but there is a need for mining altcoin is high is specs your desktop desktop is the best for mining to be high gpu you desktop and you should also find the desktop of your desktop so that it will not affect you and your internet should also be fast

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March 02, 2018, 07:53:27 AM
 #100

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I think Bitcoin mining is worth only in case you have great equipment for this. Mining requires a fairly large investment, which will not soon pay off. For such an activity, a large amount of patience is needed. Otherwise, nothing happens. I believe that today, it is more profitable to mine altcoins than Bitcoin.

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March 02, 2018, 08:02:56 AM
 #101

I do not think it's true for bitcoin miners to see that bitcoin is currently decreasing if you do mining, then what you are struggling will not match what you get. My advice if you want to do mining then it is better if you choose a better altcoin and more dominant in price issues. Because mine requires patience and persistence so that everything can be smooth.
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March 02, 2018, 09:36:36 AM
 #102

I thought about it, but decided that it did not suit me. To do this, much is needed and this is costs that are not small. I prefer to participate in ICO, Bounty and Airdrops.

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March 02, 2018, 09:50:16 AM
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Hi there. I'm planning to build a Mining rig too. and I've learned that in order for us to earn a good amount of bitcoin, we need to have at least 6-8 video cards on our first mining rig. you can pay your bills for the electricity and Internet and there's still left for you. just make sure that you have a room with proper ventilation because it will be hot as hell when all those video cards are starting to mine.

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March 02, 2018, 10:39:48 AM
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This is quite a costly enterprise, in addition to the fact that you need to buy expensive equipment, you still have to pay large bills for electricity. Investments seem more convenient to me.

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March 02, 2018, 04:59:26 PM
 #105

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

It depends very much not only on the price of the electricity in the area you live. Today too many people are involved in the mining process. Therefore only a powerful mining farm, which is very expensive can bring you the profit.

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March 02, 2018, 05:05:51 PM
 #106

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

It's worth it but the expensive is real , by the way I'm from PH too so I would give you some tricks or tips I guess , first is learn the mining , and do some auction I think or have a friend who knows or expert and buy some equipment that at low cost but the quality is better. And mining needed a lot of power and a better climate so in here ph on our country it's so very hot , so I think you will provide a lot of cooler. In spite of expenses that you will face , in the end it's all worth it.


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March 07, 2018, 07:03:45 AM
 #107

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

Bitcoin I think is a coin that most difficult to mine. Even in the pools it is very hard. And even with the help of special equipment. I think that it is much better to find any other coin for mining.

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March 07, 2018, 07:12:29 AM
 #108

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I know someone mining bitcoins and yes it is worth it but you need big money to build it. My friend spent almost 2 million in your currency just to mine bitcoins.

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March 08, 2018, 11:18:32 AM
 #109

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I know someone mining bitcoins and yes it is worth it but you need big money to build it. My friend spent almost 2 million in your currency just to mine bitcoins.

When bitcoin hits another all time high, then you'll see that mining is well worth it. Of course your profit then would depend on the value of the coin you're mining. And there will for sure be a time when bitcoin will regain its bullish run.

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March 08, 2018, 11:24:29 AM
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Of course. Bitcoin price is rising, there are still btc to be mined, there's also a large number of alt-coins to be mined,etc... But you'll probably need to invest quite a sum to be able to mine btc and make it profitable. I'd suggest you to mine some alt-coins, rather than bitcoin.

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March 08, 2018, 11:30:35 AM
 #111

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I think bitcoin mining is worth it. It is a stable way to get bitcoin. But you have to spend a lot of money to buy equipment to dig up bitcoins, and it takes a long time for you to earn back your principal, which is a long process. To get more revenue, you need to look for cheap electricity.
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March 08, 2018, 06:52:59 PM
 #112

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
I know someone mining bitcoins and yes it is worth it but you need big money to build it. My friend spent almost 2 million in your currency just to mine bitcoins.

When bitcoin hits another all time high, then you'll see that mining is well worth it. Of course your profit then would depend on the value of the coin you're mining. And there will for sure be a time when bitcoin will regain its bullish run.
This is really inspiring and good thing to see this much benefits of bitcoin, if your friend is good at mining it is good to use, it will need a lot of capital to invest the high electricity so if you are affording all these things you should go for mining, according to me it is good to invest in your capital for long time instead of mining as it is easy way to get fast profit, also we can join the signature campaign for making free bitcoin every year.

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March 08, 2018, 11:34:03 PM
 #113

I think now days bitcoin mining is too expensive and very hard. You can try altcoins mining. To mine need high power GPU and need huge expensive and mining rate is low now. So I am not suggest to mine btc I am suggesting you to mine altcoins which have bright future

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March 08, 2018, 11:36:27 PM
 #114

I think even though there are new and "more profitable" ways of earning bitcoin, mining is still a viable way to earn. Putting into account that you don't even put money on mining, and it only requires a good personal computer with a stable internet connection, I think it's still a viable way yo gain bitcoins.

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March 08, 2018, 11:39:56 PM
 #115

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I wouldn't recommend mining bitcoins here in the Philippines. Try switching to alt coins to mine. Bitcoin mining isn't as profitable now as compared 8 years ago. Plus, as you've mentioned, Philippine electricity isn't cheap at all and the climate in the country sucks.

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March 09, 2018, 01:54:58 AM
 #116

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

bitcoin mining is cost high indeed, at the current time you may not gain anything.
but for the long term, i am sure bitcoin mining is profitable. you just need to do it consistently.

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March 09, 2018, 02:26:24 AM
 #117

Now the excavation has become a movement, the Bitcoin digger, the bitcoin digger, so the manufacturers compete to launch a variety of different models, accompanied by the inflated of the buffalo driving The speed and amount of money received should make the new miners to spin as fast as not know which machine to choose and pay the fastest. You should investigate carefully before doing this work.

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March 09, 2018, 04:57:04 AM
 #118

I do not think it's true for bitcoin miners to see that bitcoin is currently decreasing if you do mining, then what you are struggling will not match what you get. My advice if you want to do mining then it is better if you choose a better altcoin and more dominant in price issues. Because mine requires patience and persistence so that everything can be smooth.

Although the mining method is stable, but the yield and return are relatively long-term, I still recommend the speculation and mining at the same time.

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March 09, 2018, 05:01:42 AM
 #119

Bitcoin mining is worthy only if free electricity or at very low cost. The initial investment in mining is too much also needs technical skill and time. in my view trading or investing in Bitcoin is more beneficial than mining.

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March 09, 2018, 05:17:48 AM
 #120

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I do think that mining bitcoin is a good way for learning and gaining knowledge, but it is hard to mine bitcoin especially if you don't have the proper rig to use in mining. If you are really interested in mining you can buy high-end GPU's as much as five 1080 GPU  for you to be able to actually earn through mining especially as you said PH has expensive electricity or you can buy ant-miner which really costs a lot as much as the price as you are buying five GPU's but even if you have those resources it will still take time to break even your costs on your rig and plus the electricity. This is why I prefer on just investing directly than mining. I don't have against on mining but it is only good for knowledge and learning. The era of mining has gone past and I also have missed that chance.
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March 09, 2018, 06:22:53 AM
 #121

stay assure, bitcoin mining is still profitable nowadays.
if you compare with the cost and the gain for a long term, you will still profitable

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March 09, 2018, 06:27:28 AM
 #122

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I think it is if you have the resources and the capability to do so then i think you’re all set to bitcoin mining. Its worth it because you would have a brand new experience in the world of cryptocurrency and that you would have an experience in bitcoin mining where you get to have a lot of bitcoin at your fingertips forsthand and the returns can be incredulously high as you would have the full unfettered access to it that are not found in trading or just buying and selling it

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March 13, 2018, 03:55:26 AM
 #123

Don't indulge in the system. Once you get addicted you cant fall back. Beware of it
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March 13, 2018, 03:57:29 AM
 #124

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

do you think bitcoin mining is not profitable ?
mining indeed cost electricity, but it is still profitable for me.
you should wait for the long term in mining to earn more.

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March 13, 2018, 04:02:23 AM
 #125

POW is about to convert electricity and silicon to hash ...  isn't it ?

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March 13, 2018, 04:02:50 AM
 #126

stay assure, bitcoin mining is still profitable nowadays.
if you compare with the cost and the gain for a long term, you will still profitable

Cases of illegal “mining”, trading, and use of cryptocurrencies have emerged in an endless stream worldwide, and the imperfections and risks of the cryptocurrency exchange market have become increasingly prominent. In recent days, multinational financial regulatory agencies have successively introduced policies to strengthen the supervision of cryptocurrencies, so it is not worthwhile to mine illegally.

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March 13, 2018, 04:12:35 AM
 #127

Don't indulge in the system. Once you get addicted you cant fall back. Beware of it

Hmm.. Once you invest your hard earned money in the mining rigs and other equipment, it is impossible to pull back. You will keep on mining, even if the revenue from it doesn't even cover your electricity bill. Some people find it hard to accept defeat and move on.

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March 13, 2018, 04:21:10 AM
 #128

I don't think it's worth it because Bitcoin becomes harder and harder to dig. It has already been mined and it wastes more power.
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March 13, 2018, 04:23:16 AM
 #129

If you want to dig for Bitcoin, I don't think it's worth it because the cost of digging Bitcoin is too high, and, over time, bitcoin's difficulty is gradually increasing. So I do not recommend you to dig bitcoin.
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March 13, 2018, 05:49:45 AM
 #130

..for me,,bitcoin mininig is worth kung ayaw mong maghirap maxado sa pagtype,post,or click in earning bitcoin..as along as my enough fund ka para maafford ang mga kelagan mo sa pagmimina,eh pwedeng pwede mong gawin yan..Ayun nga lang,,malaki talaga ang gagastusin mo sa pagmimina..kaya kung ako sau,payo ko lang,ganun din lang na gagastos ka ng malaki,,try mo nalang kaya maginvest o kaya magtrade..marami pa namang ibang paraan para magkaron ka ng bitcoin.

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March 13, 2018, 06:02:22 AM
 #131

Mining is the process of spending computing power to process transactions, secure the network, and keeps everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network.
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March 13, 2018, 06:21:53 AM
 #132

For you to maximize the profit in mining, you must know what gpu to pic, which coin to mine and etc. There are several things you need to consider first before you start mining. And you must research about it because it might be waste of money if you did not purchase the best gpu and best setup for mining.

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March 13, 2018, 06:24:37 AM
 #133

Mining is the way toward spending figuring energy to process exchanges, secure the system, and keeps everybody in the framework synchronized together. It can be seen like the Bitcoin server farm aside from that it has been intended to be completely decentralized with mine workers working in all nations and no individual having control over the system.

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March 15, 2018, 12:24:37 AM
 #134

Try to mine in other altcoins rather than btc because there is already many high tech mines in btcs
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March 15, 2018, 04:00:11 AM
 #135

Yes it is, bitcoin mining is still worth. Currently, im mining bitcoin with some tools.
and not only bitcoin, but altcoin also. You can still earn some profit from mining crypto.

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March 15, 2018, 04:07:48 AM
 #136

In this red days, mining not worth if you need to mine to pay your dinning.
It worths, if you can mine and hold your coin to sell when the markets rise again.

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March 15, 2018, 04:15:21 AM
 #137

As the price of bitcoin is going down and as the capital is not that average because you need a lot of capital to start a decent mining for bitcoin then i will say that it is not worth it because you cannot be sure that you will be earning good decent profits in the long run because the market is volatile and it is not for the people who want average to low risk type of investment because it is very risky and it is just like gambling.

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March 15, 2018, 04:27:54 AM
 #138

Well if you study on bitcoin mining then it is worth it for you really can earn more but if you just do ot righ away and make sudden decision then it may cost you more money. Also you should consider using alternate electricity source to have less electric bill.

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March 15, 2018, 04:53:11 AM
 #139

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

For 6 GPU you can earn around 1000 US Dollar (PHP51000) a month (it could be more or less)
Monthly power bill around PHP10000
Price of one (1) GPU approximately PHP35000

Approximately 6-7 month before you can break-even on your investment.
Mining is huge investment to start and it will take time to get your ROI.
If you have enough money to invest then its good though. It's a low risk investment. 
 


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March 15, 2018, 06:19:04 AM
 #140

Yes, I think it is worth it to do bitcoin mining as long as the mining site is true. Beware of the mining sites that requires you to pay an amount to claim the mined bitcoin because it could be a scam.

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March 15, 2018, 07:20:41 AM
 #141

Yes it is worthy and bitcoin mining is one of the ways to earn bitcoin without having to work all day. But making a mining rig is not an easy thing to do if you don't have enough money.

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March 15, 2018, 07:30:51 AM
 #142


Mining can be quite profitable especially if you have the technical know how on how to go about it. acquiring the necessary equipment is expensive enough and if the electricity cost is high too then it might not be as lucrative as the process needs a lot of electricity. in such a case, i would recommend trading instead

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March 15, 2018, 07:46:05 AM
 #143

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
It is only now that we have begun to contact mining. I suggest not to participate. First of all, the electricity bill is the first factor. Secondly, you don't have professional skills for the configuration of the mining machine and some skills are unfamiliar. The matching is unreasonable. The important point is that bitcoin has too much computing power. It is difficult for ordinary people to dig into it, and the income from joining the mine pool is not high. If you want to dig mines, look for ETH or some other new cryptocurrency.
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March 15, 2018, 07:58:36 AM
 #144

Bitcoin mining has been very difficult and extremely power-consuming. I think this is a loss-making investment.

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March 15, 2018, 04:49:20 PM
 #145

Though it has many competitors but still it has advantage because regardless of market you can mine btcs well
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March 19, 2018, 03:17:56 AM
 #146

Btc system is overpopulated and competition to become better miner prevails still and so you as beginnner should not try it
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March 19, 2018, 03:19:47 AM
 #147

Yes bitcoin mining is worth it.Though it has many competitors but it has a great advantage to orher.Because regardless of mining you were also using btc.

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March 19, 2018, 03:28:57 AM
 #148

Yes bitcoin mining is worth it.Though it has many competitors but it has a great advantage to orher.Because regardless of mining you were also using btc.
Difficult BTC has increased, if there is no peach will not be born BTC brother, machinery workshop to do nothing? One more thing about the level that you say the market ever revived? 1 or 2 years Huh Touching on such a group benefit, I think about $ 6,000 may be the bottom for btc to revive.
 The Ministry of Education and Training (MOF) has completed the hypothesis in 2140 - but that is not all because it is still expensive to train the BTC will still be born - it is the cost for the excavator. When BTC falls into the low price area with the assumption that you think the BTC excavation will only result in losses, if an individual or an organization have to pay the cost of digging each month, the excavation on the ongoing. If that person does not believe BTC will revalue => Crypto loses a large community for a long time if that hypothesis occurs, and as said, touches on group interests while Crypto is catching up on the investment wave. that's unlikely.

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March 19, 2018, 06:54:25 AM
 #149

I think the BTC is not suitable for mining now, because the price of BTC is already very low, and it is better to buy BTC directly if the investment is mined.


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March 19, 2018, 07:14:58 AM
 #150

nowadays, not worth. the annual supply is getting less and lesser. I suggest you directly purchase btc instead of spending on graphic card. Do trading at cryptopia,coinbase ,any crypto trading site.
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March 19, 2018, 07:22:38 AM
 #151

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
Are you a Filipino?
Well, bitcoin is not anymore profitable in Philippines since there is a high cost of electricity and we all know that mining uses current so much.
I want also to try mining of bitcoins but I am doubting if I will gain or loss my capital.

For mining does require large electrical energy. If you have inadequate infrastructure, you should have other protable equipment to cope with mining needs, or not to continue with this plan.

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March 19, 2018, 07:25:38 AM
 #152

It is worth it if you are very busy doing your job, let your mining desktop earn money for you. But it is not easy to build a mining rig that will surely bring profit for you. Electricity bills, graphics cards, and internet bills costs too much especially if you're living in the Philippines.

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March 19, 2018, 07:27:32 AM
 #153

I don't think that small-scale mining is profitable right now. That said, when the exchange rates rise in the future, your investment in mining can potentially bring you 5x or 10x returns. This is what happened to those who persisted with mining when the prices were low in 2015 and 2016.

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March 19, 2018, 07:29:30 AM
 #154

Yes if you have money to buy those mining rigs equipments and all the things needed in bitcoin mining. It is worth it for a long term invesment because many of my friends doing it and they say that you will have your return of invesment in 7-8 months and a maximum of 1 year of running it 24/7. In that period of time, you can have your invesment back and they said that they computed it less all the expenses like electricity. But this type of thing is really expensive for you to have a full set up of mining rig.

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March 19, 2018, 07:45:30 AM
 #155

for me it will depends on the budget of the miner, because of the mining hardware that too much expensive that only rich people can afford to buy the hardware to mine bitcoin, but for low budget miner they mine altcoins instead that has a low cost mining hardware and easy to mine altcoins.

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March 19, 2018, 09:36:12 AM
 #156

According to a recent study by the company Power Compare for mining bitcoin takes 0.13% of electricity in the world. If bitcoin was a whole country, it would have been ranked 61st in the world;)

But not everything is so fun. Over the past month, electricity consumption for mining increased by 29.98%. If the dynamics are the same, then by 2020 our cue ball will consume all the electricity in the world.

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March 19, 2018, 09:38:04 AM
 #157

Unless you live in Iceland or Venezuela, your best bet is NO.
It would be more financially rewarding to just BUY and HODL your coins.
While there may be other crptos worth mining, I wouldn't suggest Bitcoin.
I'm not expert on this subject TBH, but I think this is the general consensus. 

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March 19, 2018, 09:43:04 AM
 #158

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
If you feel you have the ability in bitcoin mining, it would not hurt to try it. Obviously if you're in the mining world you have to have more costs, because as we know the tool to mine bitcoin is quite expensive. And at least you learn it first before actually plunge into the mining world. because that's the most important step.

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Pesona1
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March 19, 2018, 09:45:14 AM
 #159

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink
If you feel you have the ability in bitcoin mining, it would not hurt to try it. Obviously if you're in the mining world you have to have more costs, because as we know the tool to mine bitcoin is quite expensive. And at least you learn it first before actually plunge into the mining world. because that's the most important step.
the ability to understand mining science I think that can be learned the most important is the financial ability to buy mining tools, because mining requires a lot of equipment and also the price is expensive. so I think we should require it for the mining needs.