Is MINING actually WORTH it now?

[rick2718]

The OP's post really baffles me. Is it worth it now? That a question implying it's only worth it if the value TODAY can be exchanged for more USD than the initial investment. Are we that short sighted?

A little scenario - lets say it dips to $200 tomorrow and you've invested 10s of thousands of dollars into mining hardware so you decide it isn't worth it because the electricity is actually costing you more than you're getting in return... so you pour gasoline and light a match on all your gear. Two months later, had you continued to mine you may have mined 50 additional bitcoins continually spending more money on electricity. Then the price spikes to $1500... was it worth it?

if you had used those "10s of thousands of dollars" to buy btc instead of mining hardware then
your hypothetical rise from 200 to 1500 would have been a much happier event

[kooke]

Unless you run a big operation and can get significant discounts on your miners, plus free electricity, you're better off just buying btc at this point. Some people develop products or services that they sell for btc, so that's another option.

[iGROWyourBiz]

I have the ability to get free (well flat/fixed rate) electricity.

But even without that, it does seem mining gives some the "FEELING" of getting something for nothing.  Which is the draw. But the initial investment thus far seems high.

I just have not been able to see the MATH that makes it actually work (maybe 2 years ago it was different)

[bryant.coleman]

Because people somehow have this weird notion that mining them is better than buying them and it'll make them more money. I guess their just infatuated with the fact that it's akin to 'printing money' and they want in when in fact the printing machines are more costly than the money they can produce.

Anyway one of the main accusations against the Bitcoin is that it wastes millions of $$$ worth of electricity. I don't agree with them. No one is using electricity for free. We are paying for it. And indirectly, we are helping in giving employment to thousands of people by buying millions of USD worth of electricity and mining equipments.

[theangrycrow]

Get solar panels they have come down in price and provide free electricity the average roof can make 4000w even in poor lighting conditions.


BTC17bNwyJVBuphyFZvxyZCiLhbKr5nvM7KQT

[coinnewbit]

So according to logic what will happen if everybody stops mining?