Topic: About to start Mining (Read 1434 times)

Yeah, I think private mining stopped to be profitable. Now only mining farms give some good profit. So, if you don't equipped enough better don't go in this business. Best regards.

I have already started to mine but wanted to introduce myself. My handle is Grudge. Plz feel free to friend me or whatever. I am in need of some quality shoulders to rub. Thanks for all the help these boards are and continue to provide. Peace!

Grudge

Can you suggest where and how I can get it. My budget is pretty low. I planned to buy s7 antminers but is 1 miner enough? I did the electricity cost which is affordable for me. Anyhow looking for a mentor for guidance to start. Thank you

Hi all, as you see I'm a newbie, I start from the above post and then I have a few questions.
I would like to say to Monkeydominicorobin that my personal experience is exactly the opposite. I bought initially a very small cloud space to see how it was working in several different mining farms (the most quoted with good feedback) and I found out the most suitable for me. I invested the same amount   I would have to spend in hardware if I had to do mining by myself and the foresee revenue in a year is 300% which I love!. What I mean is that if I buy HD for mining now I will spend money for it and in a year time I will have to renew it throwing away the old HD with the money I spent on it while with the cloud mining farms I choose, I will recover the initial in 4 months and have a net profit of 200% for the next 8! I test it and already recover 1/4 in a mont of the initial investment.   

But my question now is another one: I wish to make it more profitable so I was thinking about running on myself the correct bitcoin mining software acquiring a certain Tera space from renown clouds... Does anyone knows which international companies allows such a thing and the relates costs? In another post I read that in 2013 with Amazon it wasn't profitable, it's still like then? 
Anyone have experienced it recently and has a p&l comparison? 

Thanks a lot

Thillybit

P.S.
For those who are interested in the cloud mining farm I chose and wants more info I'm available in PVT

tnx mate

If you're mining Ethereum, maybe you can look on this thread: https://bitcointalksearch.org/topic/1050ti-and-1050-mining-performance-1691798

According to the members, the average hashrate would be around 22-24 MH/s (the data can be various from time to time)

can anyone discuss me how much earn in 4x gtx 1050ti for etheruem mining

Even if it's not profitable, it is quite the amazing learning experience.

For Bitcoin? Forget it as BTC mining has been ASIC only for a few years.
For altcoins - post in the altcoin areas as this one is for BTC only.

Guys,

How to calculate hashing power of my own PC?

Look up a few posts in  the thread, this already points to you needing to step up your research game. This forum has tons of info just spend some time reading up.

Is it hard to mine bitcoin?

very helpful!

Im interested in mining too.. i guess ill have to look into the forum on topics related to hardware etc..but i think it should be profitable with new coins coming out all the time and their value increasing in the future.

yes its profitable if you have good mining hardware

You can't build Bitcoin rigs. You buy them pre-built - they're between $1000 - $2000 for current generation miners.

Im planning to build a mining rig, do you guys know how much it cost? And what are the tools needed?

What you need to do is figure out what your local electricity costs are. Then look into what it would cost you to get your hands on a Miner, used can be okay but if you want to make a profit and are new I suggest buying a new piece of equipment. I chose the Avalon 741, because I need the reliability, and can afford to pay a little higher in electricity costs.

Take that information to a profitability calculator and punch in the data. This will tell you how profitable it will be with a snapshot, then add say 1.5 months to your ROI to estimate difficulty increases. You can also try to find ways to improve your efficiency depending on your climate. My miners will run in my basement to contribute to my overall heating costs.

Good luck

It hardly profitable right now because a lot of miners and difficulty has increased day after day

The Antminer D3 does not mine Bitcoin but DASH, what are you even talking about?


OP, yes it's still profitable provided you have relatively cheap electricity. You'll have to take care of cooling and maybe (most likely not) power capacity upgrades in the area where you plan to mine depending on how many miners you're going to purchase.
Keep in mind that the money you'll make is not much, keep in mind that you will also have to buy new miners when they come out because the old ones become obsolete almost immediately.