Is mining still profitable?

[ABitNut]

Yes, it is.

How else do you explain 220+ Phash/s running?

[ErikvanBreen]

Scrypt mining is still profitable if you find the right deal (LTCgear) 

[adaseb]

I make $5 a day and its falling and falling everyday!

[Snorek]

I make $5 a day and its falling and falling everyday!

It is up for you op to decide. People will be telling you different things. If you are interested, you may always try some cloud mining. It is not expensive at all. Just test the water. But remember to buy from some reputable company. Don't trust some random small companies which will probably scam you.

[xstr8guy]

I have ~10THs mining at home which is about $1700 per month in BTC income at the current difficulty. Everything I have running is at 1w/GHs or less.

My last 3 electric bills have been an average of about $1700 per month. Of course my electric bill isn't from mining alone but I would estimate that 70-80% is from my mining gear. It's still summer in the desert where I live so my A/C still runs most of the day.

So I have another month or two (max) before I'm mining at a loss. Although I might run some of the most efficient miners (S3's and Monarchs) for auxiliary heat in the winter even though I have a gas furnace.

[spiceminer15]

yes it is, depends on electricity costs and how much you pay for machines

buy used machines as cheap as possible

I have 5.4TH in undervolted s1s and one s2 and pay 0.064 and my entire house including mining elec cost is about $350-$400

0.1 - 0.14 BTC a day

[bigasic]

It all depends on the cost that you purchase at and your cost for electricity. So there is no easy answer. For the most part, the answer is no. If you had a couple million and cheap electricity, you might have a chance at roi, but since coins are so cheap right now, Its better to buy the coins with your investment. I wish I would have done that...

[spiceminer15]

yes yes, ROI is impossible. sell me your antminer s1s for $20 a piece i'll use them as decorations

[bigasic]

I have ~10THs mining at home which is about $1700 per month in BTC income at the current difficulty. Everything I have running is at 1w/GHs or less.

My last 3 electric bills have been an average of about $1700 per month. Of course my electric bill isn't from mining alone but I would estimate that 70-80% is from my mining gear. It's still summer in the desert where I live so my A/C still runs most of the day.

So I have another month or two (max) before I'm mining at a loss. Although I might run some of the most efficient miners (S3's and Monarchs) for auxiliary heat in the winter even though I have a gas furnace.

This should be your answer.. Granted, bitcoins could shoot up at any time but could go down too.. Id steer clear of mining.. not profitable.

[Snorek]

I have ~10THs mining at home which is about $1700 per month in BTC income at the current difficulty. Everything I have running is at 1w/GHs or less.

My last 3 electric bills have been an average of about $1700 per month. Of course my electric bill isn't from mining alone but I would estimate that 70-80% is from my mining gear. It's still summer in the desert where I live so my A/C still runs most of the day.

So I have another month or two (max) before I'm mining at a loss. Although I might run some of the most efficient miners (S3's and Monarchs) for auxiliary heat in the winter even though I have a gas furnace.

This should be your answer.. Granted, bitcoins could shoot up at any time but could go down too.. Id steer clear of mining.. not profitable.

If you weren't mining anything ever before. The only reason to start mining now is to feel how it is. You would later can tell some of your children or grandchildren that at some point you were bitcoin miner in the past. Other that that standard mining is not that good for individuals.

[xstr8guy]

I have ~10THs mining at home which is about $1700 per month in BTC income at the current difficulty. Everything I have running is at 1w/GHs or less.

My last 3 electric bills have been an average of about $1700 per month. Of course my electric bill isn't from mining alone but I would estimate that 70-80% is from my mining gear. It's still summer in the desert where I live so my A/C still runs most of the day.

So I have another month or two (max) before I'm mining at a loss. Although I might run some of the most efficient miners (S3's and Monarchs) for auxiliary heat in the winter even though I have a gas furnace.

This should be your answer.. Granted, bitcoins could shoot up at any time but could go down too.. Id steer clear of mining.. not profitable.

If you weren't mining anything ever before. The only reason to start mining now is to feel how it is. You would later can tell some of your children or grandchildren that at some point you were bitcoin miner in the past. Other that that standard mining is not that good for individuals.

Absolutely! An individual trying to start mining BTC now is a guaranteed losing venture.

In my case, I was lucky and timed my first miner purchases well... paid fiat for early mining gear when BTC was very cheap. And I reinvested my BTC earnings in more mining gear when BTC was very high. I've had a positive ROI (bitcoin and fiat) for many months now. I had zero bitcoin when I started and now hold some in my wallet. And I earned back my fiat investment by selling some used gear on eBay early on.

I was extremely lucky, there was absolutely no skill involved, lol. But those days have long passed and anyone hoping to duplicate a similar situation is going to be very, very disappointed.

[Minor Miner]

I have ~10THs mining at home which is about $1700 per month in BTC income at the current difficulty. Everything I have running is at 1w/GHs or less.
My last 3 electric bills have been an average of about $1700 per month. Of course my electric bill isn't from mining alone but I would estimate that 70-80% is from my mining gear. It's still summer in the desert where I live so my A/C still runs most of the day.
So I have another month or two (max) before I'm mining at a loss. Although I might run some of the most efficient miners (S3's and Monarchs) for auxiliary heat in the winter even though I have a gas furnace.

This should be your answer.. Granted, bitcoins could shoot up at any time but could go down too.. Id steer clear of mining.. not profitable.

If you weren't mining anything ever before. The only reason to start mining now is to feel how it is. You would later can tell some of your children or grandchildren that at some point you were bitcoin miner in the past. Other that that standard mining is not that good for individuals.

Absolutely! An individual trying to start mining BTC now is a guaranteed losing venture.
In my case, I was lucky and timed my first miner purchases well... paid fiat for early mining gear when BTC was very cheap. And I reinvested my BTC earnings in more mining gear when BTC was very high. I've had a positive ROI (bitcoin and fiat) for many months now. I had zero bitcoin when I started and now hold some in my wallet. And I earned back my fiat investment by selling some used gear on eBay early on.
I was extremely lucky, there was absolutely no skill involved, lol. But those days have long passed and anyone hoping to duplicate a similar situation is going to be very, very disappointed.

The ONLY way that you can mine starting now and recoup the amount you have to pay for the miner is IF bitcoin rises.   And if bitcoin rises, you would have been better off just holding your bitcoin or using the FIAT that you have to purchase the miner to buy the bitcoin.

Mining is basically buying bitcoins for future delivery (with a lot of volatility on the quantity of each future delivery).   At prices below $500-600 and this current difficulty, you receive far more coins TODAY by just buying the bitcoin vs. buying a miner (and the coins from the miner will not be delivered at once).

[SMB-2525]

The ONLY way that you can mine starting now and recoup the amount you have to pay for the miner is IF bitcoin rises.   And if bitcoin rises, you would have been better off just holding your bitcoin or using the FIAT that you have to purchase the miner to buy the bitcoin.

Mining is basically buying bitcoins for future delivery (with a lot of volatility on the quantity of each future delivery).   At prices below $500-600 and this current difficulty, you receive far more coins TODAY by just buying the bitcoin vs. buying a miner (and the coins from the miner will not be delivered at once).

Bingo!!!!

[ajw7989]

Like many other people posted mining is not profitable the way bitcoin price is and the way difficulty is. your best bet is to buy bitcoin if you have that desire. Otherwise i would use mining for investment purposes. What i mean is use a cloud mining site that offers you to sell the hashpower back. Do not get involved in any contracts where they do not offer a place to sell that hashpower back since those will not ROI and you would be better off just buying btc at the price it is now. If you cloud mine then resell it back you can make a decent profit if you time it right. If not you will still get dividends no matter how small they are.

[Soros Shorts]

Cloudmining is so stupid I cannot understand why anyone would do it.  You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.

Also, if the price of BTC went up 10x I would suspect that many cloud mining companies would mysteriously disappear or go our of business, and people's paid-for virtual miners would stop hashing.

[gallery2000]

Cloudmining is so stupid I cannot understand why anyone would do it.  You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.

Also, if the price of BTC went up 10x I would suspect that many cloud mining companies would mysteriously disappear or go our of business, and people's paid-for virtual miners would stop hashing.

Same thing might happen if the price halved. A $200 bitcoin would be a disaster for everyone, be it holders, traders and miners.

Unfortunately it is approaching $250 this month.

[FloridaBear]

With Bitcoin at $300, my Cyclone (22 MHs scrypt) is netting about $0.56 per day at nicehash rates, after electricity. If you add in cooling costs, I'm probably negative at this point...

[Klubknuckle]

I don't want a 10 page answer please!!

Please make your answers as short as possible, a simple yes/no will do.

Since you want a short answer.

Answer: NO

[hedgy73]

NO

[eoakland]

if you are a casual home miner the answer is no.  if you are constantly tinkering and upgrading it still could be.