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Author Topic: So mining is apparently only profitable if btc is over $8600  (Read 184 times)
Jambolb2
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May 02, 2018, 12:31:37 PM
 #41

No exactly true. Depends on the price of electricity and other factors which are dependent on where you are in the world.
He’s not right. All these thingsthat has to do with making of profit and not making of profit are based on the expenses you make while working as a Bitcoin miner. When your loss are bigger than the profit you’re making, then Bitcoin mining is not meant for you. Expenses you make depends on where you’re living, the cost of electricity and other stuffs. But I still believe that Bitcoin mining gives more profit when the price is very low. But whatever… I’m not a miner anyway.
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LizaIva
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May 02, 2018, 05:18:18 PM
 #42

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.
it is true for countries with high electricity prices, in europe or USA, but in countries with low electricity costs it is still profitalbe to mine bitcoin at 6000 usd price.
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May 02, 2018, 05:19:59 PM
 #43

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.

If you have a free electricity and a low cost expenses mining is alaways good then.
but mining is very expensive and if you are just starting i will not advice it to you now.
good to go with others, just search more and you will find it.

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St4yInTh3D4rk
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May 02, 2018, 05:37:24 PM
 #44

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.

If you have a free electricity and a low cost expenses mining is alaways good then.
but mining is very expensive and if you are just starting i will not advice it to you now.
good to go with others, just search more and you will find it.
No where in the world we can get electricity for free,if you got means then you are stealing it.But the prices vary from country to countries so if your country has cheap electricity and cooling climate condition then you can make good profits from mining.And bitcoin mining needs one time huge investment because it needs lot of hashpower to mine bitcoins.

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richjohn
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May 02, 2018, 05:43:37 PM
 #45

Yes you're right. Given the initial investment required to set up a mining farm, the cost can only be justified if the price of bitcoin is above 8500$. Anything below it is just not profitable and not investing so much money into. These Miners had made the maximum profits when the price was around 20k$. Those were their golden days.

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Herbys
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May 02, 2018, 05:49:44 PM
 #46

I think that the cost can be attributed only to electricity consumption. Tariffs for electricity in different countries fluctuate, so to say exactly what amount is the threshold of profit is not possible.
poplolnman
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May 02, 2018, 08:16:39 PM
 #47

Not really, actually mining would be profitable if done in mass I mean if done with so much hardware like china did yesterday. But if you done it individually could only profitable if you keep it and do not need to sell it all , just sell for the daily / monthly mining cost. There will come a price of more than $ 8k, just think about investment after that.

nodulelibyane7
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May 04, 2018, 02:34:31 PM
 #48

This is not entirely true. It depends on the cost of the Bitcoins and its rise and fall.
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May 04, 2018, 03:05:12 PM
 #49

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.

Its not correct. I mean its juts about the time and hash rate calculation which defines the ultimate fate of everything. If you have bigger hash rate then your ROI time will be less no matter what are the prices. If you have less hash rate then obviously it will take huge time to recover the cost of set up.
Im not sure how Morgan got that calculation but for me that is how it works. I might be wrong but hey come on its working just fine for me. After holding if the price grow huge then obviously that would rise in my profit itself.

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May 07, 2018, 03:49:37 PM
 #50

This is not entirely true. It depends on the cost of the Bitcoins and its rise and fall.
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May 07, 2018, 03:52:43 PM
 #51

Reading about the history of Bitcoin, what I really dislike is the fact that there are mining companies. It's not like it was meant, with each user contributing. I wish I could go back to the days when people use to mine it with their laptops.
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