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Author Topic: So mining is apparently only profitable if btc is over $8600  (Read 184 times)
btccrusher
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April 20, 2018, 02:42:40 PM
 #21

It depends on where the miner lives in. I know countries like India, Pakistan, Nepal still has electricity price very cheap. So it should be okay for Bitcoin miner from these countries if the price is below $8600. I guess some African and Asian countries have similar facilities for crypto miners.

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April 20, 2018, 02:51:58 PM
 #22

I read this and my first reaction was that this was an arbitrary number they must have picked out of the air because like a few others have mentioned there are so many variables that go into the overall cost of mining. The electricity cost for one. Say you are using a renewable energy source, then what? And the degree of difficulty is always changing as well so how is this factored in?
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April 20, 2018, 02:54:39 PM
 #23

This is a fake that is distributed by miners in order to justify the high cost of the transaction. I don't believe that. The bitcoin price has been below $ 7000 for a long period this year. Do you think that in this period miners worked at a loss? Lol. It never happens. Perhaps they are preparing public opinion before the rise in price of bitcoin and as a consequence of the increase in prices for confirmation of transactions.

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April 20, 2018, 03:01:57 PM
 #24

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

Honestly, I am not a pro Bitcoin miner. But I see in my local community, there are many people that already sold their mining rig and Antminer.
I don't know what is the reason, I guess it's probably due to the market crash last weeks.

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April 20, 2018, 03:57:21 PM
 #25

The problem with every miner is that electricity bills are increasing every year now is also somewhat expensive in my country for electricity bills, with bitcoin price reductions tending to affect it, with bills and everyday needs that are so much a second problem, not worth the income with every expenditure day must have a problem in the mining tool or the other, every miner must have their respective problems.

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April 20, 2018, 04:26:33 PM
 #26

"Apparently" is definitely the operative word.  Since when are we taking Morgan Stanley's word for anything?  Other than perhaps how to get away with a slap on the wrist for serious financial crimes?  Calculating mining profitability clearly isn't one of their strong suits.  They should stick to what they're good at, which is flouting regulations, exploiting the ignorant and giving generous political contributions to both halves of America's two party system to gain favourable treatment. 

I suppose on the plus side, it's reassuring to know they're still far from understanding anything at all about crypto.  Means we still have the upper hand.

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April 20, 2018, 05:38:18 PM
 #27

Yet another generalized statement. It's either Morgan Stanley doesn't know how to do math or he doesn't know that mining operation costs vary greatly from country to country. If mining bitcoin is only profitable @ $8600, how come we haven't lost any substantial hashing power when the price is @ $6000? Miners would have left if they are losing that big and yet they don't. It's great that these annoying 'experts' don't know how the scene really works.

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April 20, 2018, 05:48:40 PM
 #28

Apparently everybody here knows that the cost of mining directly depends on the cost of electricity. And the electricity tariffs differ variably across all the countries of the world. So there is no such set standard for the costs and profits of mining to remain same over a particular benchmark. The rates vary significantly and you cannot even find two countries where the rates of electricity are same, and the cost of mining would be same. So this makes the whole difference and as far as profitability in mining is concerned that highly depends on the time and other resources that you devote to this work.


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Blue Bell
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April 20, 2018, 07:49:10 PM
 #29

No exactly true. Depends on the price of electricity and other factors which are dependent on where you are in the world.
Yes mining is something that you will have to look at everything you will have to loot at the market and you will have to buy the equipment and you will have to manage your time for it same way you will have to pay the electricity bills in mining, so if you have enough amount of capital for all this then you can earn with bitcoin mining, if you see the real face of mining then it is full of profit ad it made a lot of people rich within few months, so buy now to mine but keep the above things in mind.

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April 20, 2018, 08:27:37 PM
 #30

This is something that came out in a news story the other day, but it doesn't put into consideration all of the variables which are present. Some of them include the price of the electricity, the price you bought the machinery you mine with at, taxes in your area, etc etc. This study is probably focusing on one area in the world, rather then focused on areas like China who get power for pennies on the dollar. So, yeah, disregard that completely.


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Hydrogen
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April 20, 2018, 08:31:28 PM
 #31

This topic has come up a few times. Here's the closest thing to a definitive answer I've seen:



Image link: https://i.imgur.com/hMZpOZp.jpg

Source: https://www.elitefixtures.com/blog/post/2683/bitcoin-mining-costs-by-country/

Unsurprisingly, financial and economics spokespersons aren't the most reliable nor accurate source of information.

The cost of mining is also expected to decrease as the ASIC market becomes more decentralized with intel, samsung, nvidia and others due to enter the market. The cost per watt of hashpower is also expected to decline further as competition incentivizes advancement and industry wide innovation in ASIC production with smaller nanometer scale lithographic silicon etching processes which will be empowered by Moore's Law, et al.

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April 23, 2018, 07:54:41 AM
 #32

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

This is not true for every individual as the mining expenses vary from place to place. It mainly depends on the cost of electricity you are using.
This is not correct as far as I know about mining. It depends on the cost of electricity and that of a nice strong system. How much do you spend on hardware? What is the compensation foe the time you spend mining. A one time investment in these inputs and then planning for long term mining will help earn irrespective of the price of electricity and other factors.

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April 27, 2018, 12:26:45 PM
 #33

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.
I don’t think so. If mining was only profitable at the $8600, then why were people rushing into right from the time when the price was still at the rate of $100 and less? You don’t just say that it is only profitable when it’s at the rate of $8600, rather it is more profitable when it’s at the rate of $8,600 and above, but profitable at all rate. When the price of Bitcoin was at low rate, people who were just investing on cloud mining made a lot of profits, but ever since the price became high, people don’t make anything from cloud mining anymore. So what he’s saying makes no sense.

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April 28, 2018, 04:39:04 AM
 #34

There is nothing to have a strong connection with the price, it only matters on electricity charges in different areas.  Apparently, they got more profit if the price of btc is more higher than of their bills.
Maybe stanley is just referring on their country and not considering with the others.
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April 28, 2018, 04:50:32 AM
 #35

in my opinion, mining is only profitable if you have this following: fast internet, high end computer set-up, specially your GPU, which is the miner, and has an access to a lot of capital to start mining. for me, this indicates that only those who are in capable of doing so can benefit from this and take note that you could only earn big through it if you have mined enough because if not then you are at risk of having more debt.

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April 28, 2018, 05:34:49 AM
 #36

If bitcoin mining became more and more complicated ant expensive I would just do another things instead of that, but if it is a passive income and you can afford that, to make it profitable, go ahead.

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April 28, 2018, 08:28:43 AM
 #37

Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.

My friends mining bitcoin and he still have profits if bitcoin price at $8600 but its small profits. Electricity cost very dominant in mining and he should buying some power back up because electricity in our country not stable too. Its expensive at start but when bitcoin price above $10k, its very proftable he said

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April 28, 2018, 09:50:12 AM
 #38

in my opinion, mining is only profitable if you have this following: fast internet,

No, you can even mine with a 3g connection.

high end computer set-up,

Again, you don't need that at all.

specially your GPU, which is the miner, and has an access to a lot of capital to start mining.

Nobody is mining bitcoin with a GPU

take note that you could only earn big through it if you have mined enough because if not then you are at risk of having more debt.

Wow, you only earn if you mine enough, nobody thought of that, Captain Obvious.

There is nothing to have a strong connection with the price, it only matters on electricity charges in different areas. 

There is a strong connection altought it's one direction only.
Mining can't affect the price, but if the price goes down a lot it can make miners shut down their equipment as the electricity bill is bigger than the income.


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April 28, 2018, 10:05:25 AM
 #39

as I would like to think, mining is just productive in the event that you have this following: quick web, top of the line PC set-up, uncommonly your GPU, which is the digger, and has an entrance to a considerable measure of funding to begin mining. for me, this demonstrates just the individuals who are in equipped for doing as such can profit by this and observe that you could just procure huge through it in the event that you have sufficiently mined on the grounds that if not then you are in danger of having more obligation.
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April 28, 2018, 03:32:39 PM
 #40

I beg to disagree as I believe not.
Mining bitcoins will always be profitable no matter the value of it as you can simply hold them ofd and wait for the price to peak then finally sell them. Bitcoin has a great potential in the future and it is in its nature that it will prosper in some time.
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