Topic: Bitcoin mining should be profitable now (Read 2900 times)
Base on my experience I can't see mining site that truly profitable most of I try mining site were closed after my depositing they were closed that why for me mining site is scam they need investment but after that, no payouts.
It still doesn't as profitable as Eth mining.
Why would anyone buy any miners from China while they can grab Nvidia/AMD GPU's from their local PC store? (not now apparently, all stocks are empty.
See? Everybody's buying GPU's.) They can make more money than btc mining, they can insta sell their GPU's, they can have an incredible customer support...
And ck, our beloved staff member here, still defends the current PoW algo.
Bitcoin mining is doomed.
Why would anyone buy any miners from China while they can grab Nvidia/AMD GPU's from their local PC store? (not now apparently, all stocks are empty.
See? Everybody's buying GPU's.) They can make more money than btc mining, they can insta sell their GPU's, they can have an incredible customer support...And ck, our beloved staff member here, still defends the current PoW algo.
Bitcoin mining is doomed.
As of the recent price jump (to ~ 2500$) the ROI comes much faster as all miners are priced in $.
If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
Bitcoin mining is hard to get big profit for now because of the current value you would need strong mining rigs and build more to make your profit good, just invest big amount of money in mining if you are solo mining goodluck mate. Just keep in touch in this forum for more update and to know what is the best rigs to mine bitcoin,.If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
solo mining doesn't make sense with the current difficulty, you need to invest in a peta farm for that to work, and basically almost none cna do such investment now
while i don't think it will carry a high risk, because the value is very high and it won't come down anymore below $2k, still it's not something i would do now
you can roi as a fast with few gear don't need to go big to get your investment back
Recreational or solo mining is no longer profitable. And I totally agree it doesn't make sense really. Electricity, money, time will be very expensive if you are on doing solo mining. And even if you really want to do it, it will take you years to just to solve a block. Other's mentioned doing it because its your hobby, but it will be a expensive hobby as well. Yeah the ROI will be good, but the chance of you finding a block is getting harder. I think you need your lady luck everyday just to find a block.
Mining at home is far from being profitable with bitcoin miners like Avalon and Antminers. I think for the average Joe who wants to mine at home the best is to mine with 2-3 graphic cards in his home PC to just start out and see how is it going. If you want to make mining profitable with bitcoin miners you need to have free electricity or near free electricity and buy used Antminer S9 cause they are selling for cheap now at AliExpress.
As of the recent price jump (to ~ 2500$) the ROI comes much faster as all miners are priced in $.
If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
Bitcoin mining is hard to get big profit for now because of the current value you would need strong mining rigs and build more to make your profit good, just invest big amount of money in mining if you are solo mining goodluck mate. Just keep in touch in this forum for more update and to know what is the best rigs to mine bitcoin,.If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
solo mining doesn't make sense with the current difficulty, you need to invest in a peta farm for that to work, and basically almost none cna do such investment now
while i don't think it will carry a high risk, because the value is very high and it won't come down anymore below $2k, still it's not something i would do now
you can roi as a fast with few gear don't need to go big to get your investment back
As of the recent price jump (to ~ 2500$) the ROI comes much faster as all miners are priced in $.
If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
Bitcoin mining is hard to get big profit for now because of the current value you would need strong mining rigs and build more to make your profit good, just invest big amount of money in mining if you are solo mining goodluck mate. Just keep in touch in this forum for more update and to know what is the best rigs to mine bitcoin,. If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
As of the recent price jump (to ~ 2500$) the ROI comes much faster as all miners are priced in $.
If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
If you are convnced that the price of BTC will rise equivalent to the difficulty it should be profitable
Bitcoin mining should be profitable now as
Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
Small scale mining wont really be profitable ever unless if you do treat is as a hobby then it would somehow give you small amounts but there are lots to consider before tending or planning to mine bitcoin.Dont directly think up about those fees that are being charged by miners because its senseless to think if you do only own 1 asic miner. Electricity cost would be the main thing here if its expensive then dont bother to mine ever. Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
Bitcoin mining should be profitable now as
Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
bitcoin mining profitability doesn't depend on bitcoin fees only
miners do get a share of the fees when they find a block(depending on a pool,too)but the main contributor to profitability is
the current bitcoin price and difficulty,electricity cost and equipment cost
buying small amount of hashpower,especially on a scale of Gh is wasting time and money-you will not be able to withdraw as
the mined amounts will be below withdrawal threshold
also,when you are investing into cloud mining,be ready to get scammed or never ever achieve ROI on your investment
Bitcoin mining should be profitable now as
Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
Bitcoin fees are much higher now
Example :
If I am going to buy 10 Gh/s from Hashflare = $1.2 + 0.002 trx fee
but return is not worth to invest
bitcoin mining profitability doesn't depend on bitcoin fees only
miners do get a share of the fees when they find a block(depending on a pool,too)but the main contributor to profitability is
the current bitcoin price and difficulty,electricity cost and equipment cost
buying small amount of hashpower,especially on a scale of Gh is wasting time and money-you will not be able to withdraw as
the mined amounts will be below withdrawal threshold
also,when you are investing into cloud mining,be ready to get scammed or never ever achieve ROI on your investment
bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
That's something I hadn't thought of before.
Aren't there any other places that can make mining equipment?
bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
not really just a bonus when the total transaction fee account for 500 btc, which is more than 1/4 of their total generated coins per day, what they make now with fee is huge and it's keep growing, it will eventually match the amount per day
on the other hands, miners are still making less than what they were making before the halving, in bitcoin(not in fiat), in fiat they are making more just because has a higher value
bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
That's something I hadn't thought of before.
Aren't there any other places that can make mining equipment?
If you have the right amount of money to invest in a mining farm then it is good to go and check out the electricity rates before jumping into it,because mining farm eats a lot of energy and to maintain one it is really difficult,it has being a corporate thing,we can still mine alt coins,which i think is the only way to make some profit with mining.
the transaction fees are higher hence it will only profitable for the biggest mining economies like Japan which are almost scratching the Bitcoin network with their monster machines. a single expensive miner can not profit into this heavy competition.by the way I more feel like we should now start capturing bother alts as they are easy to mine.
it's not worth it now IMO, even if it's slightly more profitable than before it's mostly still not worth it, and also the fees are unlikely to last for long, hence you wouldn't even be the ROI when they return to normal or perhaps almost completely changed, but for those who already stopped mining and have some mining gear ready, it might worth it to join a pool and mine a little more.
Profitable if you have the hardware to mine however if you are going to rely on cloud mining, then it's best to just keep your coins instead. If your hardware isn't powerful enough to give sufficient hashes then try not to mine bitcoin directly but look for other altcoins out there.
Individual mining is not too good to mine bitcoin but if you have a big capital to invest i think it will be work and get some profit. I strongly agree that you need to have powerful mining rig to make your mining much successful that is why big capital is required for this.Aside from that, the key factor here is electricity rate. Even with thousands of miner and several pentahash if your electicity rate is high, you will find yourself in negative return. This is because of the maintenance expenses exceeds the profit generated by miners. This is one big reason why majority of hashes is stationed in China.
for a relatively short time though, new miners with xxx power are coming soon again, the profit RN depends on both the 2xxx USD/BTC and the 300s/b fees which will not last long.
Not saying you shouldn't dig up the ol' miner from the basement, but buying an old miner to use is probably too much if done for anything other than novelty.
Not saying you shouldn't dig up the ol' miner from the basement, but buying an old miner to use is probably too much if done for anything other than novelty.
Yup, exactly. I started calculating these before and some miners which already became obsolete due to low mining power compared to the network are yielding small profit now, of course it's not more than cents but it's surprising to see mining becoming this profitable, with increased fees and higher BTC prices.
On the other hand, if the CONF issue is solved, fees would go back to normal.
On the other hand, if the CONF issue is solved, fees would go back to normal.
Profitable if you have the hardware to mine however if you are going to rely on cloud mining, then it's best to just keep your coins instead. If your hardware isn't powerful enough to give sufficient hashes then try not to mine bitcoin directly but look for other altcoins out there.
Individual mining is not too good to mine bitcoin but if you have a big capital to invest i think it will be work and get some profit. I strongly agree that you need to have powerful mining rig to make your mining much successful that is why big capital is required for this.Aside from that, the key factor here is electricity rate. Even with thousands of miner and several pentahash if your electicity rate is high, you will find yourself in negative return. This is because of the maintenance expenses exceeds the profit generated by miners. This is one big reason why majority of hashes is stationed in China.
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