Hello everyone! Got a question; how do I start making profit from mining?

[Electrolytez]

How is everyone paying there electricity bill? Unless your getting free electricity or cheap, I don't see how anyone can make any profit from just mining. I was planning to mine some coins and see how it goes.

[dogecoinenewb]

I'd think everyone just think of it as an investment right now. If dogecoin ever make 1/100 of what bitcoin is today, then it'd be worthwhile.

[GarbageName]

There are coins you can make a profit from.

http://www.coinwarz.com/cryptocurrency

Say you pick worldcoin. Then with a AMD Radeon HD 7950 at 650 KH/s you'd be making $12.62 a day. The electricity costs at $.1 KW/h are $1.06 cents a day (assuming a pull 440 watts). Meaning you are still making $11.56 a day.

That is profit.

--GarbageName

[Electrolytez]

There are coins you can make a profit from.

http://www.coinwarz.com/cryptocurrency

Say you pick worldcoin. Then with a AMD Radeon HD 7950 at 650 KH/s you'd be making $12.62 a day. The electricity costs at $.1 KW/h are $1.06 cents a day (assuming a pull 440 watts). Meaning you are still making $11.56 a day.

That is profit.

--GarbageName

Wait... how did you get that? I don't really understand how the cost of KW/h works yet haha. I tried going on Coinwarz.com and did there calculator. This is what I put in:

2500.00 KH/s
1350 Watt
8.00 Power Cost... not too sure what to put in here.

Profit by the end of the day is -9.02

Unless Im doing something wrong here.

[this1dude]

There are coins you can make a profit from.

http://www.coinwarz.com/cryptocurrency

Say you pick worldcoin. Then with a AMD Radeon HD 7950 at 650 KH/s you'd be making $12.62 a day. The electricity costs at $.1 KW/h are $1.06 cents a day (assuming a pull 440 watts). Meaning you are still making $11.56 a day.

That is profit.

--GarbageName

WDC -- fresh new pool, hot off the press   launched a few hours ago, needs your hashes!

http://wdc.bettercoin.org

Thanks!

[Electrolytez]

Well I feel really stupid. I put 8 dollars instead of 8 cents... haha >.>

[koshgel]

free electricity baby 

[Skoupi]

How is everyone paying there electricity bill? Unless your getting free electricity or cheap, I don't see how anyone can make any profit from just mining. I was planning to mine some coins and see how it goes.

Don't forget that litecoin for example was at $40 not long ago. Even at $20 is more than enough to cover electricity costs although the margin for profit is lower.

[jimcoins]

The most important thing is to balance investment costs, performance metrics, and to work within PROVEN variables.  This means that you really should start small and join strong pools.  You need to be sure that you can get your miners working at peak performance, and that the pools you use are paying out as close to the estimations from sites like CoinWarz.  You need a measure of how much you are actually making and then move from there based on the results.

[ihopeigetrichpls]

wouldn't trust bettercoin

abandoned their doge site switched over to earth and they never paid out doge

[Mikebrisboy]

While you're at it, I would also recommend following the most popular coins and their market caps at coinmarketcap.com.