Is it profitable to mine?

[bitmarket.io]

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI.  That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it.  Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there.  

[Yakamoto]

Ok so aside from the ongoing discussion,

Mining is not profitable unless you can pick up GH/s for REALLY cheap. Don't bother mining BTC, just go and mine some alts with the GPU in your computer. Far more profitable.

Make sure to find a semi-new coin with a large community, however, to lessen the likelihood that it's pump-n-dump.

There's a lot of alt mining going on nowadays, so you might as well jump on the bandwagon.

[ShakyhandsBTCer]

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI.  That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it.  Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there.  

I agree with your concept, but wouldn't this generally require a significant amount of capital? I would think you would need to achieve an economy of scale in order for this to happen.

[scarsbergholden]

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI.  That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it.  Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there.  

I agree with your concept, but wouldn't this generally require a significant amount of capital? I would think you would need to achieve an economy of scale in order for this to happen.

Certainly. Some capital input before, likely, and massive, massive pre-orders that themselves may have allowed this sort of behavior. Never pre-order....

[ranochigo]

Ok so aside from the ongoing discussion,

Mining is not profitable unless you can pick up GH/s for REALLY cheap. Don't bother mining BTC, just go and mine some alts with the GPU in your computer. Far more profitable.

Make sure to find a semi-new coin with a large community, however, to lessen the likelihood that it's pump-n-dump.

There's a lot of alt mining going on nowadays, so you might as well jump on the bandwagon.

Some Alts already have ASICs developed for them, it may not be at all profitable if the price is not stable, the best is to use multipool and mine ASIC resistant coins. No one knows if the price will suddenly crash. The best is to buy BTC directly, you have to consider about the stability of the coin, electrical cost, hardware cost and time taken to setup.

[show_off]

Just for fun

[NapoleonBonaparte]

Ok so aside from the ongoing discussion,

Mining is not profitable unless you can pick up GH/s for REALLY cheap. Don't bother mining BTC, just go and mine some alts with the GPU in your computer. Far more profitable.

Make sure to find a semi-new coin with a large community, however, to lessen the likelihood that it's pump-n-dump.

There's a lot of alt mining going on nowadays, so you might as well jump on the bandwagon.

Some Alts already have ASICs developed for them, it may not be at all profitable if the price is not stable, the best is to use multipool and mine ASIC resistant coins. No one knows if the price will suddenly crash. The best is to buy BTC directly, you have to consider about the stability of the coin, electrical cost, hardware cost and time taken to setup.

Some posters here already pointed out, both GPU and ASIC mining is no longer a profitable venture.

[ShakyhandsBTCer]

Ok so aside from the ongoing discussion,

Mining is not profitable unless you can pick up GH/s for REALLY cheap. Don't bother mining BTC, just go and mine some alts with the GPU in your computer. Far more profitable.

Make sure to find a semi-new coin with a large community, however, to lessen the likelihood that it's pump-n-dump.

There's a lot of alt mining going on nowadays, so you might as well jump on the bandwagon.

Some Alts already have ASICs developed for them, it may not be at all profitable if the price is not stable, the best is to use multipool and mine ASIC resistant coins. No one knows if the price will suddenly crash. The best is to buy BTC directly, you have to consider about the stability of the coin, electrical cost, hardware cost and time taken to setup.

Some posters here already pointed out, both GPU and ASIC mining is no longer a profitable venture.

ASIC mining is the only mining that could possibly be profitable if bought at the right price.

[nwfella]

I jumped into mining with a purchase of a $15 AntMiner USB chip.  I'm not and never had any belief I'd make much of a profit on it, it was mostly for learning.  But I'm wondering if it's even possible to make any profit.  

I'm currently getting 1.75 GHash/Sec.  From what I have received over the past few hours, as well as projects from various web sites, the lifetime earnings of this will be about $5.  That's earnings, not profit.  Cost+shipping will be about a $25 loss).  That's assuming BTC price remains stable, I'm not using any electricity, and a few other factors in favor of some kind of a profit.  

If that projection is accurate, than if I were to get a 1 THash unit at about $2,100 then I might expect a lifetime earnings of $2,800 or so.  Again, assuming BTC price is stable and not factoring in expenses like electricity, time spent working with the unit, etc.  

Is this about  right? Has mining become such a commodity right now that you might hope to recoup only a few percentage profit over time on a capital investment?

Short answer is yup...welcome to the world of mining.  Cloud mining seems to be where it's at right now and even most of those major operations are in trouble.  Basically only people designing/producing asics are making any real money in that space.  You don't really mine for profit anymore.

[alexeft]

True, mining is not profitable by a long shot, yet difficulty is still increasing fast!!!

People need to understand that it is better to buy bitcoins than to mine them at this point!!!

[Skele]

I think the current price is very low to make a profitable mining, some people say it will reach the $1000 or more by the end of July, so we

need to wait. A good option for now would be ALTcoins mining.

[arbitrage001]

I think the current price is very low to make a profitable mining, some people say it will reach the $1000 or more by the end of July, so we

need to wait. A good option for now would be ALTcoins mining.

As the price adjust upward, so will the network difficulty and the additional supply.

The golden age of mining is over. People can't even ROI after taking out all the expense and equipment depreciation.

[ranochigo]

I think the current price is very low to make a profitable mining, some people say it will reach the $1000 or more by the end of July, so we

need to wait. A good option for now would be ALTcoins mining.

Alt coin ASICs are being developed, the difficulty would also skyrocket. Even if they are ASIC resistant, they can be a pump and dump coin and lose value easily.

[LiteCoinGuy]

better mine Litecoin, thats alot more profitable for little miners:


http://www.cryptobadger.com/2013/04/build-a-litecoin-mining-rig-hardware/

[ranochigo]

better mine Litecoin, thats alot more profitable for little miners:


http://www.cryptobadger.com/2013/04/build-a-litecoin-mining-rig-hardware/

There's quite a few affordable Litecoin ASICS, it would be better to buy one of those, instead of GPUs.

[Swordsoffreedom]

I jumped into mining with a purchase of a $15 AntMiner USB chip.  I'm not and never had any belief I'd make much of a profit on it, it was mostly for learning.  But I'm wondering if it's even possible to make any profit.  

In the short term no in the long term probably also a no but you never know what price Bitcoin will appreciate to
If you can get free electricity say at school or at a university then yes it is profitable 
But you can use a mining calculator such as this one
https://tradeblock.com/mining/

[Harley997]

I think the current price is very low to make a profitable mining, some people say it will reach the $1000 or more by the end of July, so we

need to wait. A good option for now would be ALTcoins mining.

As the price adjust upward, so will the network difficulty and the additional supply.

The golden age of mining is over. People can't even ROI after taking out all the expense and equipment depreciation.

This is true.

The amount of price appreciation that would be necessary in order for most miners to ever ROI is just ridiculous

[ShakyhandsBTCer]

I jumped into mining with a purchase of a $15 AntMiner USB chip.  I'm not and never had any belief I'd make much of a profit on it, it was mostly for learning.  But I'm wondering if it's even possible to make any profit.  

In the short term no in the long term probably also a no but you never know what price Bitcoin will appreciate to
If you can get free electricity say at school or at a university then yes it is profitable 
But you can use a mining calculator such as this one
https://tradeblock.com/mining/

In other words, no it is not profitable to mine bitcoin.

If you think that the price will increase then you should simply buy bitcoin on an exchange

[Neotox]

well it is not profitable to mine with USB chip
you can't make profit unless you have some high power mining hardware or a mining farm

[moko666]

with this usb chip you won't able to get a single bitcoin in your whole life
not even your grandson or his grandson will get a full bitcoin with this