is it profitable to start mining today??

[ballbugsbunny]

True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.

If you are talking about CPUs, you have less than a one in a billion chance of finding a block if mining Bitcoin.  CPUs run in the low MH/s range, ASICs are in the low TH/s range - so about 1 million factor.  Current network is 125PH/s give or take, so not even one in 100 billion.

Yeap talking about someone that does single mining with his home PC and the bitcoin core software.
Nice . So completing the query, if you buy a lottery ticket as mentioned above, you have one chance in 434027,777...

So, start buying lottery tickets non-pool, non-ASIC muggots

[minerjoen]

True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.

Well the topic starter seems not to read?
Anyway bitcoin mining is some kind of waste of money, unleas u have free/cheap power costs ( like other says ), u can better buy bitcoins, because the price for 1 is only raising up.

What i do i mining alt coins, like i mined some coins a few days, at that week i earned like 10 dollar, 2 weeks later the same coins brought me to over the 200 dollar for the same coins ( not more ).

u can beter stay on this forum for 2 weeks at least, and read all the topics what tracks ur interest, and at this moment i advise the alternative crypto topics.

But again if u have free / verry verry cheap power costs at ur home or somewhere else, u can mine bitcoins for sure.

[ballbugsbunny]

True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.

Well the topic starter seems not to read?
Anyway bitcoin mining is some kind of waste of money, unleas u have free/cheap power costs ( like other says ), u can better buy bitcoins, because the price for 1 is only raising up.

What i do i mining alt coins, like i mined some coins a few days, at that week i earned like 10 dollar, 2 weeks later the same coins brought me to over the 200 dollar for the same coins ( not more ).

u can beter stay on this forum for 2 weeks at least, and read all the topics what tracks ur interest, and at this moment i advise the alternative crypto topics.

But again if u have free / verry verry cheap power costs at ur home or somewhere else, u can mine bitcoins for sure.

No don't get me wrong here.. I'm new at the forum but not new to the whole btc world (of warcraft)..
I also mined altcoins as you pointed out and made some money. Also exchanged some of them for btc.
Unfortunatelly currently altcoins are not profitable for my power consumption and it's really time consuming to bet which is going up in order to still make money.
I prefer to spend my time somewhere else...

Nevertheless I just made a fun question, food for thought.
The people in business, keep it up..

[ranochigo]

True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.

Yup, the chances are significantly less if you run with your CPU. As you are running it only two hours per day, don't even think about getting a share.

[DrG]

True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.

Yup, the chances are significantly less if you run with your CPU. As you are running it only two hours per day, don't even think about getting a share.

If you are solo mining which is what we are talking about, you'll be looking for difficulty 1 shares.  You will stil easily find difficulty 1 shares on a CPU.  But the chance of a difficulty 1 share solving the block is less than being stuck by lightning while sitting inside your house.

[Golph]

its been last 5 days watching over this bitcoin thing and i have some extra cash so i just wanted a suggestion that if i start mining today by buying the hardware would i be in much profit or its just a decent profit??
and i dont have hell of cash its just my pocket money which i would be investing.
so finally is it profitable for a beginner to start mining today?
and i see the difficulty rate increasing like anything day by day..
if yes plez just suggest some hardware which is ecnomic and will pay back in few months.

Mining is not making profit these days, you won't ROI your hardware because of difficulty.

[Connor936]

its been last 5 days watching over this bitcoin thing and i have some extra cash so i just wanted a suggestion that if i start mining today by buying the hardware would i be in much profit or its just a decent profit??
and i dont have hell of cash its just my pocket money which i would be investing.
so finally is it profitable for a beginner to start mining today?
and i see the difficulty rate increasing like anything day by day..
if yes plez just suggest some hardware which is ecnomic and will pay back in few months.

Mining is not making profit these days, you won't ROI your hardware because of difficulty.

It depends on how much you pay for your electricity and how much you pay for your hardware and how much you can sell the machine for when you are done using it to mine. If you keep your costs low enough then you will ROI. If you overpay then you will not.

[ranochigo]

its been last 5 days watching over this bitcoin thing and i have some extra cash so i just wanted a suggestion that if i start mining today by buying the hardware would i be in much profit or its just a decent profit??
and i dont have hell of cash its just my pocket money which i would be investing.
so finally is it profitable for a beginner to start mining today?
and i see the difficulty rate increasing like anything day by day..
if yes plez just suggest some hardware which is ecnomic and will pay back in few months.

Mining is not making profit these days, you won't ROI your hardware because of difficulty.

It depends on how much you pay for your electricity and how much you pay for your hardware and how much you can sell the machine for when you are done using it to mine. If you keep your costs low enough then you will ROI. If you overpay then you will not.

You should consider if the difficulty increases too much, the ASICs breaks down and the sudden surge in difficulty. I doubt you would even be able to sell it at half of the price. You can easily lose your investment.

[redsn0w]

No ,isn't profitable  for you to start mining today  .

[oceans]

I bought a few cheap USB miners at the hopes of getting lucky.
Maybe one of these days I will wake up and have 25 BTC sitting in my wallet.(One can only hope) lol
It is like a lottery ticket, I dont expect to get anything out of it, but it could happen.

It is however, very impossible since the difficulty is so high. You will need extreme luck to even get a block. IMO, you are wasting a portion of your electricity.

Yea, the probability is EXTREMELY low, but its fun to just let them run and hope that one day it might pay off. I mean they only cost pennies a day to run.
I think I like to do it more for fun.

[BitcoinHeroes]

Well, the difficulty is suppose to slow down but seems like it never will. So no, it will never be profitable to mine..

[ranochigo]

Well, the difficulty is suppose to slow down but seems like it never will. So no, it will never be profitable to mine..

The difficulty isn't supposed to slow down actually, bitcoin is gaining a lot of attention from all parts of the world, even if GPU and ASICs mining doesn't exist, people will still mine if they have unused computer and low electrical cost. ASICs are continually being produced therefore more people will mine and the difficulty will rise.

[spiceminer15]

best bet is to buy used stuff for really cheap...

i bought 11 antminers for about 1500. ive been getting .05-.065 btc a day depending on pool luck... will it roi? eventually itnwill.... how long depends on luck and any diff increases....

andpriceof btc...

[ranochigo]

best bet is to buy used stuff for really cheap...

i bought 11 antminers for about 1500. ive been getting .05-.065 btc a day depending on pool luck... will it roi? eventually itnwill.... how long depends on luck and any diff increases....

andpriceof btc...

You need really good electrical rate to ROI. Even though those are cheap, their lifespan may not be as long as a new one, and they May underperform. Difficulty is likely to rise a bit faster since more ASICs are being shipped.

[spiceminer15]

my power last month was 177 running  ac almost all the time and miners