Bitcoin Mining , Is it worth it? - page 28.

Angletim

newbie

Activity: 98

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Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

I don't think it's a good time to invest in mining bitcoin. First, you need a lot of money to buy equipment, and you need to do your best to find cheap electricity. It takes a long time to gain. And now that the price of bitcoin has dropped a lot, it will prolong your earnings.

Iacomus

newbie

Activity: 30

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Yes it is. Did you know you can generate Bitcoins by using a special computer? This lesson is all about Bitcoin mining - the way Bitcoin are "born". We will explain what mining is, how to become a miner and what you should take into account before taking your first steps.

lisasteca

sr. member

Activity: 574

Merit: 250

Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

If still people are mining it could be possible that is worth still. All depends on what you pay for your electricity in your country and off course what hardware you are using to mine the BTC

hardhouseinc

sr. member

Activity: 672

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Most Advanced Crypto Exchange on the Blockchain

AS long as you have the mining equipment I don't see why it wouldn't worth. Go for it

doaremon

full member

Activity: 532

Merit: 100

I think holding Bitcoin is Worthing. I think it's a good strategy for business. But yes if that person thinks that I will hold Bitcoin for a long long time without investment then I will call him/her greedy. Bitcoin value is increasing day by day. The last year that is 2017 was a perfect example of this increasement. So if you don't invest then the value won't increase. Not only that if everyone start to hold Bitcoin then it will lose it's familiarity. So, instead of holding for a long time I think everyone should invest it in trading. But for a short period of time holding Bitcoin is not worthy rather it is a smart strategy.

GodForSakenPain

newbie

Activity: 112

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In my opinion is that it is better to invest this money in some coins including BTC. mining equipment and electricity costing so high if u can mage it u can do it .

Jet Kolet

jr. member

Activity: 98

Merit: 4

Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

which I experienced when mining coin is very profitable. try to compare with working in the factory. without having to think and slam your bones already earn income through mining. I hope you soon follow the bitcoin miner and enjoy the results.

BitcoinSupremo

copper member

Activity: 1442

Merit: 529

Quote from: TheUltraElite on February 27, 2018, 08:10:49 AM

Quote from: Ultegra134 on February 27, 2018, 07:00:15 AM

Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

See for altcoin mining there are the different protocols that support a specific coins or a group of coins. Mining them might be worth it if you think they are going to boom in future. You can always buy a GPU and mine ethereum with it or ethereum classic because both run the equihash protocol. However keep in mind the power costs, pool costs and cooling costs.

For bitcoin mining though its almost impossible to get a good ROI in the current scenario. We dont have huge amount of land to make mining farm nor do we have enough rigs to get a decent ROI in a limited amount of time.

Ethereum and Etherum classic run Ethash algorithm while Equihash is for Zcash and Bitcoin gold.

Sorry for two posts in a row but am on mobile.

BitcoinSupremo

copper member

Activity: 1442

Merit: 529

It depends where you are located and what is your electricity cost. I have a few mining rigs with friends and we will move them to a nearby country when we make 100 of them because electricity is very expensive here in Italy. I would suggest you building a 6 gpu mining rig as they make right now 0.0012-0.0013 btc dail with Rx series and modified bios. Of course as long as your electricity is lower or equal to 0.08 Usd kwatt. This is considered a profitable level until now.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Ultegra134 on February 27, 2018, 07:00:15 AM

Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

See for altcoin mining there are the different protocols that support a specific coins or a group of coins. Mining them might be worth it if you think they are going to boom in future. You can always buy a GPU and mine ethereum with it or ethereum classic because both run the ethhash protocol. However keep in mind the power costs, pool costs and cooling costs.

For bitcoin mining though its almost impossible to get a good ROI in the current scenario. We dont have huge amount of land to make mining farm nor do we have enough rigs to get a decent ROI in a limited amount of time.

gabmen

hero member

Activity: 1246

Merit: 529

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Quote from: Blackhammer321 on February 27, 2018, 06:24:31 AM

As far as i know mining gets a huge profit after getting or mined a bitcoin but the set up isn't easy to build. Mining rig really need a big amount of fund which will be needing for a place to place it, buy its parts and gears and specially you will buy a time ( figuratively speaking) you really need to sacrifice your time to build it as its parts isn't easy to find where else.

Its going to be well worth it to have a rig if btc pumps up well. Or other alts for that matter like eth and ltc. There are fees that you pay to mine and if btc drops too low, sometimes its hard to break even. You have to be prepared to wait quite a time to even get your capital back

CryptoRothschild

member

Activity: 101

Merit: 10

It is VERY UNLIKELY that you can make a profit nowadays from Bitcoin mining. If you have to pay electricity its normal price, you have no chance. If Bitcoin price should ever tank, you lose. If you don't make a ROI is a reasonable time, your mining equipment will be obsolete. So many variables, and only a few set of circumstances would allow you to profit. Very risky.

Ultegra134

hero member

Activity: 1750

Merit: 904

Bitcoin mining is extremely time and money consuming, if I were you, I'd rather invest into building or purchasing an Altcoin mining rig. Some examples are Ethereum or Equihash related coins, which currently are the most profitable for GPU mining.

jambul_kribo

sr. member

Activity: 980

Merit: 250

we must not be indiscriminate origin mining.we must to know which coins we will mining and how the prospect of the coin in forward. should be calculated also with the cost incurred with income per day whether this loss or profit

Sakibhasan.bd

newbie

Activity: 91

Merit: 0

Bitcoin mining is the most popular income on the crypto world. There are two biggest way to earn bitcoin. The 1st way is mining. If you want to start mining, you have need some mining hardware to start mine bitcoin. Bitcoin mining is a smart way to earning money.

Blackhammer321

member

Activity: 400

Merit: 59

As far as i know mining gets a huge profit after getting or mined a bitcoin but the set up isn't easy to build. Mining rig really need a big amount of fund which will be needing for a place to place it, buy its parts and gears and specially you will buy a time ( figuratively speaking) you really need to sacrifice your time to build it as its parts isn't easy to find where else.

jona

member

Activity: 266

Merit: 10

If you have the modalities and it is convenient with you it is a good idea but in a situation were you lack the amenities in mining, i think it is useless trying to get into what you can,you will run into loss or not achieve your goals

Clark05

sr. member

Activity: 1274

Merit: 263

Philippines have expensive electrcicity it's not porfitable to mine unless you are in the other location for sure you will start mining .
You can start trading buy a coin and hold it brcause mining and trading is also look like same.

Haley craft

member

Activity: 196

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In my opinion it is not worth it, because the first,mining machine bitcoin is very expensive, so you need to invest a lot of money, and then if you do not have cheap electricity, so your income may be low.

Ranly123

full member

Activity: 952

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Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

If you have the resources to start mining then yes, mining is worth an investment but remember to study first the methods of extracting cryptocurrency out of mining process. It would definitely take you some dollars to fully maximize your assets and have a bigger gain than what you expense.

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