Is mining that profitable?

[stonerider]

Yes, its very profitable, after mining for only a month, I was able to buy a bridge and a castle in New York!!! If you want to be like me, please contact me, I'd need your personal info like social security, date of birth, bank account, etc...

[/sarcasm]

[Zawamiya]

Yes, its very profitable, after mining for only a month, I was able to buy a bridge and a castle in New York!!! If you want to be like me, please contact me, I'd need your personal info like social security, date of birth, bank account, etc...

ha ha funny
well i don't think bitcoin mining is a profitable business for new miner those need to buy new hardwares and then recover their investment and profit from those,its only profitable if you are a old miner and already cash out the money you invested in hardware

[funtotry]

I would think 12 months to get your money back is your BEST case scenario.   With the cost of electricity, you will be using more than 2/3 of your mining proceeds just to pay electric.

A lot of people end up selling their miners before the end of their useful life to help deflect the cost of mining and to increase their (potential) ROI.

I think it will be interesting to see how fast difficulty increases (if at all) over the next year as people who are going to be buying new ASICs will potentially be still mining when the block subsidy halves again

[cloverme]

I would think 12 months to get your money back is your BEST case scenario.   With the cost of electricity, you will be using more than 2/3 of your mining proceeds just to pay electric.

A lot of people end up selling their miners before the end of their useful life to help deflect the cost of mining and to increase their (potential) ROI.

I think it will be interesting to see how fast difficulty increases (if at all) over the next year as people who are going to be buying new ASICs will potentially be still mining when the block subsidy halves again

Agreed, I used to sell my miners at the 3 month mark. It looks like difficulty is back on the rise again too...

[cheekychap]

Yes, its very profitable, after mining for only a month, I was able to buy a bridge and a castle in New York!!! If you want to be like me, please contact me, I'd need your personal info like social security, date of birth, bank account, etc...

ha ha funny
well i don't think bitcoin mining is a profitable business for new miner those need to buy new hardwares and then recover their investment and profit from those,its only profitable if you are a old miner and already cash out the money you invested in hardware

It might be only profitable, if you can do it large scale. Other than that, its hard for it to be profitable.

[Bananana]

Yes, its very profitable, after mining for only a month, I was able to buy a bridge and a castle in New York!!! If you want to be like me, please contact me, I'd need your personal info like social security, date of birth, bank account, etc...

ha ha funny
well i don't think bitcoin mining is a profitable business for new miner those need to buy new hardwares and then recover their investment and profit from those,its only profitable if you are a old miner and already cash out the money you invested in hardware

It might be only profitable, if you can do it large scale. Other than that, its hard for it to be profitable.

Even large scale is barely profitable right now. BTC price is way too low and difficulty is going to shoot up again.

[grn]

Hi I'm Mohsen from Iran, I found mining quite interesting and profitable and I have some doubt about it then I join this forum and I want to ask some question before investing.
I did mining with my personal computer with several pools and I noticed that I can invest in antminer s4 and that is quite interesting when I calculated the profit here : https://alloscomp.com/bitcoin/calculator
So my research says if I invest any amount in mining devices, I can return my investment in just 4 months. Am I calculating right? Is it that accurate?
I'm Planning to invest on antminer s4, Is there any better option, because right now bitmaintech guys selling 16 units for $14K and I can get 32TH/s with those. also I'm in Iran andd the electricity price is so cheap here, I can register a production company to cut half my electricity price even. But I dont know if they ship units to Iran and the weight is so high its about 250KG.
So what do you think about my plan?

Thank you

Don't use that mining calculator, it's shit, use this one instead:

https://bitcoinwisdom.com/bitcoin/calculator

Best option for mining right now is the Antminer S5

https://www.bitmaintech.com/productDetail.htm?pid=00020141223145144203LHv1Ae820632


or the Spondoolies-Tech SP20


http://www.spondoolies-tech.com/products/holiday-special-sp20-jackson-shipping-from-stock

You can't go wrong with either.  You won't necessarily ROI, but at least you're picking the right miners.

Um, you do know that there is no chance in hell that Spondoolies will ship to Iran, right?

I can get it to Iran if needed