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Author Topic: Is mining Bitcoin making any sense for ordinary people?  (Read 1006 times)
mountainview (OP)
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December 17, 2013, 07:07:42 AM
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There are so many big ASICs out there, today mining Bitcoin becomes impractical for ordinary people. I heard that by mining Litecoin or some alt coins people can get 20-30 more than mining bitcoin directly. Any advice on the mining? does it make any sense at all now for ordinary people?

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BlockChainLottery
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December 17, 2013, 10:09:36 AM
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You make almost no money mining Bitcoin today. It takes a big investment to buy ASIC devices, and the question remains if you can ever break even.
Take a look at http://bitcoinwisdom.com/bitcoin/calculator and see for yourself.
Mining alt coins can be profitable, but the window of opportunity is small due to the fast increase of difficulty.
You're also have to be lucky, there are many alt coins these days and only a few become ever profitable.

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December 17, 2013, 10:33:17 AM
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so, no.
ferda2mx
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December 17, 2013, 10:39:55 AM
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There are so many big ASICs out there, today mining Bitcoin becomes impractical for ordinary people. I heard that by mining Litecoin or some alt coins people can get 20-30 more than mining bitcoin directly. Any advice on the mining? does it make any sense at all now for ordinary people?

You can mine with your GPU Scrypt altcoins and exchange to Bitcoin, this is still profitable
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December 17, 2013, 10:41:06 AM
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I'm hoping for dogecoin to become more viral Tongue
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December 17, 2013, 10:56:00 AM
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I think I read that with consumer grade hardware (such as a Radeon 7950 graphics card) you would break even with Litecoin in about 50 days and then exchange it to bitcoin... but like the previous poster said, the windows is small and getting smaller.
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December 17, 2013, 03:39:26 PM
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I am mining Altcoins ( currently INF ) with a HD 7970, and when I exchange the Altcoins to LTC i get about 1 LTC every 3.6 days.
But i did not buy the 7970 only for mining, i dont think this is profitable, but if you already have a decent Graphics Card why not
mine with it.

If you really want to invest i think only Altcoin Mining would be profitable.
There are some calulators out there, i often look at coinwarz.com,
but keep in mind if you invest in some GPU's for mining you will probably only make profit
if the prices dont go down.
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December 17, 2013, 03:42:55 PM
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If you are on an regular ordinary home pc, you will only burn electricity while mining bitcoins. You should check the Mh/s of your hardware on a bitcoin mining calculator.

Crypto news/tutorials >>CoinRamble<<                            >>Netcodepool<<                >>My graphics<<
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December 17, 2013, 03:51:07 PM
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but keep in mind if you invest in some GPU's for mining you will probably only make profit
if the prices dont go down.

Plus the difficulty does not rise too much.

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