Your opinion: Is mining still profitable?

[betterangels]

Pleople still mining just to support the network (the bitcoin network), they believe in the concept of cryptocurrency, bitcoin.
Btw, to much people are turning off their machines/asics... just check the next diff re-target :   -1.5% (in 7 days)

[hedgy73]

I turned off my S1's a few weeks ago because they were losing money with the cost of electricity here in the UK (£0.15 / $0.25 kwh).

It's even worse now because BTC has gone down more in value. Unless you've got cheap electricity and already own the equipment outright, mining is not profitable.

[ChuckBuck]

Pleople still mining just to support the network (the bitcoin network), they believe in the concept of cryptocurrency, bitcoin.
Btw, to much people are turning off their machines/asics... just check the next diff re-target :   -1.5% (in 7 days)

If you believe in Bitcoin, then you don't need to mine to support the network.  You can serve as a node instead.

There's 250 PH/s worth of miners on the network, turning off your mining rigs won't do diddly squat, and the network will be just fine.

[cat2]

I turned off my S1s last week as well. They were running at a loss because of electricity cost in L.A. and low bitcoin price. Still running a few S3s for now.

[fewcoins]

I turned off my S1s last week as well. They were running at a loss because of electricity cost in L.A. and low bitcoin price. Still running a few S3s for now.

If you don't have a few terrahashes at this point I know it's crunch time!

[gallery2000]

It is not profitable at btc price of $300 and will break into $250 next week.  Save your money so you can buy btc next week.

[fewcoins]

It is not profitable at btc price of $300 and will break into $250 next week.  Save your money so you can buy btc next week.

Correction, It isn't profitable to YOU & other miners like me... For mega farms, when the price of BTC is double digits they still make a profit. Do some research before you post!

[xstr8guy]

It is not profitable at btc price of $300 and will break into $250 next week.  Save your money so you can buy btc next week.

Correction, It isn't profitable to YOU & other miners like me... For mega farms, when the price of BTC is double digits they still make a profit. Do some research before you post!

Thank you! Keep fighting the ignorance. 

[fewcoins]

It is not profitable at btc price of $300 and will break into $250 next week.  Save your money so you can buy btc next week.

Correction, It isn't profitable to YOU & other miners like me... For mega farms, when the price of BTC is double digits they still make a profit. Do some research before you post!

Thank you! Keep fighting the ignorance. 

I'm trying! Its hard to convert brainwashed people back to reality!!!

[llanillo]

If you have a tons of hardware yes...if u only have ur pc no!

[Hazir]

Right now? With this ridiculously low btc price? I think nothing is profitable anymore. Just my bitter words.

[syfy323]

Right now? With this ridiculously low btc price? I think nothing is profitable anymore. Just my bitter words.

329,20$ / 279,73€ - wow, -100€ in two weeks... I thought hashrate would drop, which would help me with my three S1's, but it keeps growing atm.
If I have luck, I can get all three miners into our office where me and my boss don't need to pay electricity (we have a small office in anoher company's building to store some computer parts). As they have very large industry machines, three miners would not even be noticed.

At 0,25€ per kWh at my home ich would pay min. 1/3 of my BTC ontop... I don't get why S1's are still at ~107€ per device in germany as they are not profitable other than free electricity.

I just searched for some scrypt miners but I just "invested" in three S1's for a total of 337€ which is more profitable under my circumstances as scrypt would.
IMO the whole asic thing has made bitcoin a lot less interesting... You invest, diff increases, hardware is too slow and finaly you have a device which just generates heat... GPUs could have been sold or used for gaming.

Currently I am thinking about what old miners could do for us. Encrypt data? Cracking Pws? No.

[testerman]

with new difficulty levels and btc prices, these brand new s4 antminers, will turn of in 2-3 months, and ofcourse it will not mine $1450 to that day, and wait for it, you are very lucky if it mines $500.


So,
Is mining still profitable? NO, and it hadnt been for one year..

[mikerbiker6]

yeah, still super profitable.
Buy in hardware now

[mandular]

In long term I think it is always profitable, but you need to pay for electricity and believe in Bitcoin

[ChuckBuck]

In long term I think it is always profitable, but you need to pay for electricity and believe in Bitcoin

In long term, you'll be losing more money.  Sorry to be a realist, but belief won't pay for electric bills or make the BTC price rise up.

If you're mining banking on the price to skyrocket to the moon, you'd be better off buying the coin ten times out of ten.

Mining is a losing game, only one that profits are the manufacturers that fabricate the asics and sell them off to us chumps, after they've mined on them.

[testerman]

In long term I think it is always profitable, but you need to pay for electricity and believe in Bitcoin

In long term, you'll be losing more money.  Sorry to be a realist, but belief won't pay for electric bills or make the BTC price rise up.

If you're mining banking on the price to skyrocket to the moon, you'd be better off buying the coin ten times out of ten.

Mining is a losing game, only one that profits are the manufacturers that fabricate the asics and sell them off to us chumps, after they've mined on them.

yes that is what i have been saying for months... hardware mining was expensive, but in nowadays it is too expensive plus it is a total loss..

[fewcoins]

In long term I think it is always profitable, but you need to pay for electricity and believe in Bitcoin

In long term, you'll be losing more money.  Sorry to be a realist, but belief won't pay for electric bills or make the BTC price rise up.

If you're mining banking on the price to skyrocket to the moon, you'd be better off buying the coin ten times out of ten.

Mining is a losing game, only one that profits are the manufacturers that fabricate the asics and sell them off to us chumps, after they've mined on them.

yes that is what i have been saying for months... hardware mining was expensive, but in nowadays it is too expensive plus it is a total loss..

That's correct, no more mining for an unbelievable profit... btc price is finally coming back down to reality!

[spiceminer15]

still profitable for me

[resya]

Buying the coin is better than mine it, I learned my lesson, I'll never make my ROI