Bitcoin Forum
November 10, 2024, 07:33:41 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Noob to Bitcoin Help  (Read 689 times)
awesomenatorrad (OP)
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
January 03, 2015, 06:32:42 PM
 #1

I just found about Bitcoin mining and I know how it works. Is it profitable to mine bitcoin ( do not count in Electricity). How much can I make maybe with my 5k-8k budget of hardware. Please help me with my choice of hardware too. And feel free to maybe put other statements to help me mine bitcoins.
Korbman
Legendary
*
Offline Offline

Activity: 1064
Merit: 1001



View Profile
January 03, 2015, 07:22:19 PM
 #2

Is it profitable to mine bitcoin ( do not count in Electricity).

That's a silly notion. Of course it's profitable to mine if you don't have any other reoccurring expenses outside of the initial hardware purchase (e.g. electricity).

How much can I make maybe with my 5k-8k budget of hardware. Please help me with my choice of hardware too.

Ah yes, the most common questions posed to this subforum...the answers to which are already noted in some of the top threads in Mining Speculation. Good thing you already read through them all, right?  Smiley
TL;DR - Revenue depends on the speed (and quantity) of the hardware and the network difficulty. Top recommended manufacturers: Spondoolies-Tech and BitMain.

stonerider
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 08, 2015, 04:41:56 PM
 #3

Let's say you spent $5k and bought 10 SP20's, approximately you now have 17 THS which is nothing to sneeze at but it's still a tiny drop in the bucket compared to the whole hashrate of 300+ PHS.

Your 10 SP20's will make about 6 BTC a month; however, diff is on the rise and you have to assume will continue to rise at about 10% every 12 days or so.

You may never recoup your initial investment of $5k.

You should fear that you may be entering bitcoin mining a bit too late, the go-go days are long over.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!