Is mining bitcoin still rentable?

[manweallmighty]

I was wondering, i wanna buy the antminer s3 at about 400us, i've been reading about mining and some ppl in my country (argentina) say this is not rentable, how is this posible if my electricty cost is 0.03kw/h, i should be able to make profin in about 2 and a half months, shouldnt i?. They say that dificulty is gonna get so high that my mining hardware wont last for a year (rentable speaking).

I dont know if this is the correct part of the forum to post this doubt so if u have to move it or close it just go for it.


Sorry for my english.

[byt411]

If you have such a low electricity cost, you should go for it. Once the miner starts becoming a bit unprofitable, you can then sell it.

Si tienes un coste de electricidad tan bajo, deberías hacerlo. Cuando el minero empieze a causar pérdidas de dinero (lo dicen asi en Argentina?) puedes venderlo.

[manweallmighty]

Thank u for answering, not so good at writting but i do understand english lol (your spanish was good), yeah i dont know why they say that, though is not so easy to sell a 400us bitcoin miner in Argentina since there isnt a big mining community here. thats why i have to be careful when i buy this, if breakeven and then win some money im good.

[Kluge]

Electricity @ $.03/kWh is extremely cheap. You'll likely at least break even with gloomy projections. Conservatively, you're probably looking at around $25-75 profit after three months, with a "maximum profit" of ~$200-600 after ~5-10 months (after which, it's a paperweight). -But a warning fwiw: difficulty and price can swing out of your favor quickly, so it's a gamble, not something safe.

[byt411]

Electricity @ $.03/kWh is extremely cheap. You'll likely at least break even with gloomy projections. Conservatively, you're probably looking at around $25-75 profit after three months, with a "maximum profit" of ~$200-600 after ~5-10 months (after which, it's a paperweight). -But a warning fwiw: difficulty and price can swing out of your favor quickly, so it's a gamble, not something safe.

And obviously, if you buy more, you would profit more, lol.

Thank u for answering, not so good at writting but i do understand english lol (your spanish was good), yeah i dont know why they say that, though is not so easy to sell a 400us bitcoin miner in Argentina since there isnt a big mining community here. thats why i have to be careful when i buy this, if breakeven and then win some money im good.

You can ship it to other countries, but the shipping will be a bit expensive.

[manweallmighty]

thank u, yeah i thought so, here in argentina, most of the electricity is paid by the goverment thats why is so cheap and thats why we have so many electricity related problems (besides all the other problems). thank u for answering, and no i cannot either import or export fuck my country. i will get the hardware from a near country or if someone goes to the us they will get it for me.
Once again thank u for answering so quickly.

[xstr8guy]

thank u, yeah i thought so, here in argentina, most of the electricity is paid by the goverment thats why is so cheap and thats why we have so many electricity related problems (besides all the other problems). thank u for answering, and no i cannot either import or export fuck my country. i will get the hardware from a near country or if someone goes to the us they will get it for me.
Once again thank u for answering so quickly.

Hmmm, if you have unstable electricity, you may have problems mining. To be profitable, your equipment needs to run 24/7. If you have frequent brownouts or blackouts, the downtime will really negatively affect your profitability.

[manweallmighty]

thank u, yeah i thought so, here in argentina, most of the electricity is paid by the goverment thats why is so cheap and thats why we have so many electricity related problems (besides all the other problems). thank u for answering, and no i cannot either import or export fuck my country. i will get the hardware from a near country or if someone goes to the us they will get it for me.
Once again thank u for answering so quickly.

Hmmm, if you have unstable electricity, you may have problems mining. To be profitable, your equipment needs to run 24/7. If you have frequent brownouts or blackouts, the downtime will really negatively affect your profitability.

There are problems respecting the grid, but not where i live, i have stable internet so i guess i should be able to make profit.

[railzand]

And then there are problems importing anything into Argentina, aren't there?

[Bitsaurus]

And then there are problems importing anything into Argentina, aren't there?

Yes.  He said above he can't have miners shipped directly so he would have to "walk" them in 

[railzand]

I must learn to read.
Good luck, op

[manweallmighty]

I am not smuggling drugs lol they wont even know what the fuck that is lol, the mining difficult is getting so high i am scared that by the time i get it is gonna be obsolet

[cloverme]

The more hashing power you have the better and the longer you have before the difficulty finally negates your profit. It's difficult to say what what happen to the difficulty over the next year. From last year, the hashing power that made $100 a day, makes less than $1.00 a day today. But in contrast, the bitcoin that was mined last year was worth only $90 vs the $586 today.

You need stable electricity and internet to mine reliably if your intent is mine for profit, you'll need to run it 24/7 as soon as possible.

[SMB-2525]

I ran a few calculations using an S3 (440 GHS, 350 W, $600 BTC,  $0.03/KWHR power, starts 8/20 after the next bump).
15% increase every 12 days:  Goes negative on power after 276 days and earning $438.90
10% increase every 12 days: Goes negative on power after 408 days and earning $660.48
5% increase every 12 days: Goes negative on power after 804 days and earning $1326.13

Since the beginning of the year we have averaged 16% every 12.1 days.

What is your risk profile?  

[Jewell]

I think yes. I sold all my machine. Now i'm mining and buying a lot of altcoins. They are rentable for me.

[xstr8guy]

So is "rentable" meant to be "profitable" and just bad translation? I'm confused.