Still not profitable because big/old players will buy more mining hardware which will increase bitcoin mining difficultly and new players can't ROI before the difficulty increased.
Also, bitcoin price at this moment isn't stable for various reason such as SegWit/BU drama and lots of FUDs.
Topic: Bitcoin Price 1200 USD Means - Bitcoin Mining Is Profitable, Even For Beginners - page 3. (Read 5179 times)
April 11, 2017, 04:50:02 AM
April 10, 2017, 06:12:57 PM
Just reading about a user asking about mining and if it is efficient to take part in it and he was shot down for even thinking about starting to at this time.
https://bitcointalksearch.org/topic/it-is-good-to-invest-in-mining-hardware-or-in-btc-stocks-1862894
But now another new one saying it is the right time with the rise in price.
No wonder new members are confused of what to think at times.
https://bitcointalksearch.org/topic/it-is-good-to-invest-in-mining-hardware-or-in-btc-stocks-1862894
But now another new one saying it is the right time with the rise in price.
No wonder new members are confused of what to think at times.
April 10, 2017, 05:05:49 PM
There are too many big players in this business already, to start your own mining project without at least 10,000$ (which is not much).
so many large mining operation killed smaller individual mining.
I don't feel that either of these is accurate. The size of a mining operation is only tiny factor in the operation's profitability. The major factor is the cost of electricity. If your electricity is cheap, then you can mine profitably with just a single ASIC. If your electricity is expensive, then a warehouse of ASICs means more losses and not more profits.
The reason that you can no longer mine with a PC is that it is no longer powerful and efficient enough to compete with an ASIC.
April 10, 2017, 04:09:23 PM
In the modern days, people need to stop thinking about mining bitcoin withkut any proper hardware and money to start the project.
The location is extremely important too, because the electricity bill for mining needs to be low- to make it really profitable.
There are too many big players in this business already, to start your own mining project without at least 10,000$ (which is not much).
The difficulty will constantly rise, and with every year gains from mining will decrease.
The location is extremely important too, because the electricity bill for mining needs to be low- to make it really profitable.
There are too many big players in this business already, to start your own mining project without at least 10,000$ (which is not much).
The difficulty will constantly rise, and with every year gains from mining will decrease.
April 10, 2017, 04:05:19 PM
The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without heap electricity to spend the money on an ASIC miner..
This this, price can either drop and difficulty will rise for sure, it always rise quite fast. So profits are often in theory only.Good luck tho, if u wanna try.
I also think, this is basically trap on eager, inexperienced investor.
Mining ins and outs have been throroughly examined over the years. And nothing has changed the general movements towards corporativization of entire process. Single person, even technically gifted cannot compete with dedicated mining pools, putting local conditions (electricity price) aside. Most could consider themselves lucky, if they covered initial investment on their part.
April 10, 2017, 03:21:37 PM
The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without heap electricity to spend the money on an ASIC miner..
This this, price can either drop and difficulty will rise for sure, it always rise quite fast. So profits are often in theory only.Good luck tho, if u wanna try.
April 10, 2017, 02:18:05 PM
Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.
Bitcoin price actually has less and less meaning since the difficulty keeps rising and there are so many huge companies jumping in.
Also one post/fork of BU and it will collapse. ( The bitcoin Price )
It is nowhere near stable, plus the fact that you are not going to be able to compete with miners who have free electricity ( Venezuela ).
BU? There are many which are coming nowadays with their own proposals to eat some pie from the markets' big share, but do you really think that for will take place? Still, even after the birth of BUCoin, nothing happened to the price of Bitcoins and it has risen only. I am not saying this over an optimistic sound, but still I think that OP is correct that ATM, mining may be profitable but should not be considered as a long-term profitable activity because of difficulty itself which you pointed out.
April 10, 2017, 11:32:57 AM
Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.
Bitcoin price actually has less and less meaning since the difficulty keeps rising and there are so many huge companies jumping in.
Also one post/fork of BU and it will collapse. ( The bitcoin Price )
It is nowhere near stable, plus the fact that you are not going to be able to compete with miners who have free electricity ( Venezuela ).
April 10, 2017, 11:10:09 AM
The opportunity will be short-lived. The difficulty will continue to rise quickly, returning mining to normal profitability. It is risky for a person without cheap electricity to spend the money on an ASIC miner..
April 10, 2017, 10:44:21 AM
Bitcoin have price over 1000 USD for some time, so BTC current price around 1200 USD means, it is good time for Bitcoin mining. Either through own hardware mining ASIC equipment or cloud mining. See latest BTC price here http://preev.com/.
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