mining with smartphone

[ThomasCrowne]

So say i have the money to spend on money, which i dont,, how much would it actually cost me to get started and how much btc would i get?

That totally depends.  You can purchase as little as $5 worth on coinbase assuming your a US resident.  Similarly you could probably find somebody willing to sell you small portions of BTC via localbitcoins.com as well in your local area if it's a fairly large city. 

[Velkro]

No, it's not. It's not even possible without dedicated equipment so it's not going to be on a phone. Mining is out of reach for pretty much most people now.

Its possible but only for fun, not earnings of any kind.

[niktitan132]

Do not mine with your smartphone,you will destroy it.

[odolvlobo]

So say i have the money to spend on money, which i dont,, how much would it actually cost me to get started and how much btc would i get?

It takes knowledge and experience to profit from mining. The more money a newbie spends on mining, the more he will lose. So, to answer your question, I recommend you spend $0 to get started. Try mining alt coins with your GPU first.

[InwardContour]

Mining is unprofitable for people with rigs of powerful videocards, if you try to use a smartphone to mine the result will be even worse because you could find a wallet stealer in the app...

[michaelwang33]

Latest smartphone can be using for mining but only 1 or 2 kh/s. This is too low I know but what about 100.000 smartphone. Especially If you are using Android phone be careful while you are downloading free games or application. Don't forget, "If product is free, now you're product"

If you were to mine any coin (including bitcoin) with your smart phone at this hashrate, you would likely use more electricity then the value of the coins you produce, while damaging your phone in the process.

[ANTIcentralized]

Mining is unprofitable for people with rigs of powerful videocards, if you try to use a smartphone to mine the result will be even worse because you could find a wallet stealer in the app...

I don't think there is a very high chance of any kind of wallet stealer in the app as you would obviously use an open source app. However this will not work as smartphones are not powerful enough to mine any significant amount of coins. Also any blocks found by the phone would have a higher chance of getting orphaned due to the larger delay when transmitting data via the cell network.

[BitcoinAddicts]

Mining is unprofitable for people with rigs of powerful videocards, if you try to use a smartphone to mine the result will be even worse because you could find a wallet stealer in the app...

It can be profitable if someone come out with phone mining only coin...

[guizai]

So say i have the money to spend on money, which i dont,, how much would it actually cost me to get started and how much btc would i get?

it will cost tens of thousands of dollars.. and you be sure that you wont ROI within months or years.. Buying BTC straight from exchange might give you a chance. 

[DeboraMeeks]

If you could, your phone would die and produce maybe 0.00001 bitcoins per year

[ranochigo]

You can mine with a phone. However, note that phones do not have even a fan cooling. They overheat very very easily. The speed is smaller than a desktop CPU with even better cooling. There is a very high chance your phone would die very soon without cooling. The best is to buy ASICs or custom build PC for it.

[Feneusens]

You can mine with a phone. However, note that phones do not have even a fan cooling. They overheat very very easily. The speed is smaller than a desktop CPU with even better cooling. There is a very high chance your phone would die very soon without cooling. The best is to buy ASICs or custom build PC for it.

Not only that, it will also shorten the life of the phone pretty much to few months...

[reggecoin]

It will be 1 life mining on sp to get 1 btc

[kuroman]

Is it possible to mine using a smartphone? Ive seen some mining apps and curious if anyone has actually tried it

People telling you it's impossible are totally wrong, it is technically possible to mine with a smartphone and in fact I did and it was quite profitable about a year ago with altcoins (scrypt), now the question your should ask your self is, is it worth to do so, Absolutly not, not only that you'll waste more money than what you'll earn but you'll compromise the life span of your smartphone which is a double loss

[Ajb]

if you invest in mining equipment it would take like 60-90 days to make roi

[InwardContour]

if you invest in mining equipment it would take like 60-90 days to make roi

Or maybe you won't return on your investment at all!
Mining is a risky business, only the big farms can have decent profits at the moment.

[ranochigo]

if you invest in mining equipment it would take like 60-90 days to make roi

probably even longer if they even ship. The difficulty increase is one of the factors to your ROI, so is electrical cost. Unless you have electrical cost, it isn't profitable. The hardware might be faulty and you would have to send it back for servicing. Therefore, it is really really risky.

[FUR11]

Not possible at all to mine with a smartphone unless you were planning on frying the phone. It's pretty impossible for anyone to mine now without having the right equipment.

Everyone agrees that mining on a phone if futile. Alright. But: Is it really frying the phone? Will phones suffer from the same complications that may render desktop computers or notebook computers useless when they're being used to constantly mine Bitcoin?

[leevalle]

How bout cloud mining? How does that work?

[ranochigo]

How bout cloud mining? How does that work?

They host hardware for you and they either pay them for hosting or payout is deducted for electrical cost and maintainence costs. They are usually very over priced and they take high fees from your payout too. It is really hard to ROI.