Topic: Bitcoin mining should be profitable now (Read 2905 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.
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.
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
10Gh is a pitiful amount of hashrate and anyone selling you that is selling you effectively nothing for a little bit of money from those who don't understand this. 10GH isn't enough to even register a payout from a pool if you mine there for a year; it will always be below dust limits. 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
It won't be profitable at all I think OP especially that you made a cloud mining site an example since they won't last long there is a chance that you won't get the return of your investment. It would be profitable if you have the hardware for mining and the country you lived in has low electricity cost but if not then mining using hardware would also be not profitable. It would be better to just invest that money you want to invest onto somewhere else. 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
Cloyd mining is nkt the way to investbinto bitcoin mining. If you are looking for a trust less way to earn from mining then owning your own equipment is the way to go but not many thing other than that can be considered investments I to mining
You wont be able to juice out much profit with cloud mining sites and it is hard to get your returns in due time and if you could invest that money somewhere else you could possibly earn more than what these cloud mining sites offer.I would suggest someone who is interested to mine start from alt coin mining as you could assemble something and start mining at home. 
You need to use a calculator for the calculations that really mature so as not to take the quick way to get rich, at least the mature calculation is great for preventing big losses later on
I believe mining still a profitable activity, cloud mining is very different real mining, but the fact is to you mine a block you need a lot minign power, the most miners now does mine into pools where the fees are shared between, with those extra satoshis i do believe mining still one of the best sources of income, for those with electricity lower then 0,10/kw.
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
Mining is not as profitable as in the past, and mining bitcoin is not easy like the new digital currencies, if you want to mine bitcoin, you need a high end hardware for that, and also a good internet. And even if you buy one, electricity is also a problem, I think mining another good or new digital currencies is good and then try to convert it to bitcoin.
That's right, mining nowadays is not as profitable as mining in the past when bitcoin's price is at cents. It is profitable, but you need a good mining rig at your home to do that. For example buying a mining hardware costing $1900 to $2100, you also need to buy some cooling fans for that. Let's say you are mining $130 worth of bitcoin every week, and with your electric consumption, it will not still cover up the money you bought for the rig.
It will still take months before you get back your capital. But after that, it will be all your profit.
Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
Aaaaaaaaaaah it depends.
Well I'd say you're right 95% of the time though
But electricity cost is rather low in some area, and the most interesting is to mutualize costs.
I don't know how it works for you but here I buy electricity on what I consume but the price decreases if I announce the company I'll buy more.
So we gathered with a few neighbours and made a common contract to share the bill.
Could work the same way for home mining I guess!
The reason why mining is more profitable is the increase in the price of Bitcoin last year, doubling its value. This could attrack new companies that could be interested in mining which would make more competition in the sector.
Cloyd mining is nkt the way to investbinto bitcoin mining. If you are looking for a trust less way to earn from mining then owning your own equipment is the way to go but not many thing other than that can be considered investments I to mining
Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
home mining is very profitable because the value is very high now, wy you say it's not profitable? electricity, has a very little impatc with bitcoin at $2k, only in the case you pay very high electricity like 50 cent you can't have your roi fast, and home mining don't require low temperature because you are working with 2-3 asic at best
Profitable 
You have to think about the cost of electricity and the cost of hardware
You have to think about the cost of electricity and the cost of hardware
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. 
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.
check this bro https://alloscomp.com/bitcoin/calculator
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.
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
Yes, I understand that, when the transaction fee is higher, the miners can exploit more, but to become a miner we need a lot of money to invest, and I can not afford to do it.
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
Mining is not as profitable as in the past, and mining bitcoin is not easy like the new digital currencies, if you want to mine bitcoin, you need a high end hardware for that, and also a good internet. And even if you buy one, electricity is also a problem, I think mining another good or new digital currencies is good and then try to convert it to bitcoin.
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
It is only profitable if you got a lot of money for investment or capital to buy the things that is required for mining. In our country it needs at least 3000 USD for a startup for having a mining rig for bitcoin mining and you will need to wait at least 10 months before you get your ROI which is a lot of months to wait but after that all your earnings are just profit. 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
Home mining is still not profitable because of the electricity cost and the cost of the ASIC miner. You need to have large scale mining which will significantly reduce the cost of ASIC miner from bulk purchase.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
The estimated cost for mining each bitcoin is about $300-400 for the large miners. This is because those mining sites are usually located in areas with low electricity cost (or free?) in with low temperature (north?) areas.
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
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