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Daniel007 (OP)
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May 20, 2014, 02:09:49 PM |
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I am new member of this forum. I am not so experienced on BTC mining. From an article i came to know that BTC mining has become less profitable. I want to know more about BTC mining.
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hilariousandco
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May 20, 2014, 02:45:58 PM |
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It's not really profitable unless you invest a helluva lot of money on equipment, so it's generally considered out of reach for newbs. If you want to try mining try out a new altcoin to get a understanding of the whole process.
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Malin Keshar
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May 20, 2014, 03:16:53 PM |
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it really depends on your electricity costs, the taxes on getting hardware, and other fixed costs
in long run, depends too how popular btc will get, because bitcoin reward per clock will be halved from time to time(you will get less btc with same computational efford)
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nabeton
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May 20, 2014, 05:14:13 PM |
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I am new member of this forum. I am not so experienced on BTC mining. From an article i came to know that BTC mining has become less profitable. I want to know more about BTC mining.
Hi Daniel, welcome to forum. IMO profitability is quite misleading, because it's connected to actual price. So it's helpful for miners who promptly sell everything, but useless for those who want to keep their BTC. imagine: btc price skyrockets again, but now to 30 000 USD ... so was my mining profitable then? I think ye it was. but it works also opp way. So depends on you. Do you believe that price go up? Then buy mining rig. Otherwise don't. |
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ChuckBuck
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May 20, 2014, 08:05:27 PM |
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If you have free or low electrical costs, about $10-$15k of money to throw at mining equipment that ships in a week or so, it can be profitable.
Otherwise, no.
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Benjig
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May 20, 2014, 08:26:18 PM |
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Well there are many companies selling hardware..
Why are they selling money-making machines ? Why don’t they run them themselves ? Well, the bulk of the profit is made in the first few weeks. Due to the increasing difficulty in mining, hardware quickly becomes less effective so they trick into pre-order 2-3 months before you will have your machine. That is pretty insane…
If you go at the the calculator and input real, plausible shipping dates, you will see you cannot make money.
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scryptasicminer
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May 20, 2014, 10:59:11 PM |
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Most asic owners are losing money.
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Eirecoin
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May 21, 2014, 12:15:25 AM |
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Like other's have said, it depends, there is a forum over here answering pretty much everything you'd need to know https://bitcointalk.org/index.php?board=14.0 |
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dragone
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May 21, 2014, 12:19:53 AM |
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Just focus on making us dollars, or fiat money.
Then go buy bitcoin at an exchange or use localbitcoins.com
I think this is the only most profit way to do things without shelling out alot of money on mining in general.
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dragone
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May 21, 2014, 12:30:13 AM |
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Its okay, they will notice when the miner is barely breaking even over a couple days, and sell the miner. But yeah, most are still paying big bucks. Difficulty is going to get stupid high to mine. Its a harsh lesson, more most 1st time miners. |
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Omikifuse
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May 21, 2014, 12:59:22 AM |
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I am new member of this forum. I am not so experienced on BTC mining. From an article i came to know that BTC mining has become less profitable. I want to know more about BTC mining.
Yes, mining is still profitable but not BTC mining, you can do some research on x11.. |
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monbux
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May 21, 2014, 01:53:33 AM |
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Or invest in scrypt mining hardware, or cloud mining... like cex.io.
I wouldn't go for mining unless I had a huge amount of money just lying around.
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dragone
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May 21, 2014, 05:18:32 AM |
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Me personally, I rather gamble then mine btc directly.  And just focus makiing fiat money as I mentioned earlier. lol. |
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zetaray
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May 21, 2014, 07:16:08 AM |
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I feel that mining is profitable if you sell your asic at the right time. If you mine till the end of its useful life, you are unlikely to breakeven.
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BunsenBurner
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May 21, 2014, 09:23:17 AM |
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Or invest in scrypt mining hardware, or cloud mining... like cex.io.
It is okay to use cex only if you like trading IMO, as the maintenance fee eats 30% of your mining revenue. |
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dreamspark
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May 21, 2014, 09:53:21 AM |
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The vast majority of people who mine would have been better off buying. By all means do it as a hobby or for fun as many do but unless you have big money to start with you will struggle to ROI.
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PerrythePlatypus
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May 23, 2014, 07:30:28 AM |
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Go for GPU and ASIC resistance Alt coins. They can make more profit, do be careful as there are some which are pump and dump coin.
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boraf
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May 23, 2014, 12:23:47 PM |
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Go for GPU and ASIC resistance Alt coins. They can make more profit, do be careful as there are some which are pump and dump coin.
All are pump and dump lol. |
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BCwinning
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May 23, 2014, 12:27:26 PM |
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no and yes. If you don't care about electric than yes, if you do care about electric, possibly yes still.
More than likely no.
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