mining for profit is easy. look for power cost of 5 cents or less. get a few used s-3's with a low cost server psu and you have profit.
problem is it is small profit. I run 4 s-3s at 3 cents a kwatt they make money. the problem is that is all I can run.
big profit is hard. getting 100 kwatts at 5 cents is not easy. very few spots in the world to do that.
Topic: Do you think mining will be profitable again ? (Read 7105 times)
just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days
Yes, I agree... If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.
Also, buying LTC/BTC low and selling LTC/BTC high is doing well right now. LTC block halving is almost upon us. It will occur the end of August. Hence, the volatility in LTC right now. This volatility is carrying over into the BTC/USD market as well. Not as much, but still some volatility and not the boring sideways.
LTC is the place to be right now in terms of trading crypto. My honest opinion.
I've turned my 36 BTC into 47 BTC at the moment trading in LTC/BTC since the price was .00822 BTC per LTC.
just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days
Yes, I agree... If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.
Mining would be always profitable, but under some harsh conditions:
1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.
Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times
). So the factors of profitable mining had changed, not everyone then could handle that.
yes i totally agree with you, for the moment is very difficult to make a profit if the cost is issued is limited, due to the increasingly difficult levels of difficulty in adding more and more people are mining bitcoin 1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.
Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times
). So the factors of profitable mining had changed, not everyone then could handle that.
Mining would be always profitable, but under some harsh conditions:
1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.
Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times ). So the factors of profitable mining had changed, not everyone then could handle that.
1) REALLY cheap electricity
2) Easy, fast and cheap access to the newest and most efficient mining hardware available at the moment.
Bitcoin mining is no longer a game, when you win if you got secret knowledge that very few have. There are millions participants worldwide now, some of them are proffesionals.
I remember, when I made my scrypt 3xGPU rig in Nov 2013 - two, three months later it became much harder to make decent profit, because people have discovered solution for simple and effective mining at home (it was hard to gen any ATI card these times
). So the factors of profitable mining had changed, not everyone then could handle that. just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days
Yes, I agree... If you are paying more than $0.05 cents per kWH, it is best to buy right now instead of mining.
just buying BTC would be the best kind of invest compared with ANY mining device you could have on hand the next days
There will be a brief period of profitability mining if the price skyrockets in a relatively short time. Diff will take a while longer to 'catch up'. Its during that window that mining will be highly profitable.
If there is another skyrocket in price ..... anyways....
If there is another skyrocket in price ..... anyways....
Bitcoin is the ultimate free market balancing system and will by it's inherent design mining can not be very profitable over the long run. That's why banks hate it. If price goes up mining power will follow until the excess profits are removed, if price goes down hash rate will become unprofitable and hash rate will go down. So the profit margins over the long run will be very slim. The real question is what happens when the margins are so slim that large mining farms can't attract investments, will mining pivot back to enthusiasts and those who want to acquire virgin less traceable BTC who are willing to mine at a small loss?
I dont think it will be profitable again well not for bitcoin. Big companies and investments will be the next big thing for bitcoin.
i could see in the future big farms selling their hash power to those big company that will establish a cloud site, to bring once again a better decentralization and make casual mining possibile again, thanks to a better deal for the customers
I dont think it will be profitable again well not for bitcoin. Big companies and investments will be the next big thing for bitcoin.
I looked into buying a mining rig a while ago, and setting up a pool with my friends, But from what I understand the time for making money from mining has passed.
Gotta think BIG; get where u have cheap power; and hope you can get your hand on the next gen rigs that come out the end of summer or the fall.
i wish i had free power 
I looked into buying a mining rig a while ago, and setting up a pool with my friends, But from what I understand the time for making money from mining has passed.
I am still making profits with 8.73 cents per kwh. I am using s3s and s4s and c1s
The network has reached the point where only the most efficient mining hardware working in the places with the cheapest electricity , have a chance to profit
It's all about electricity price. If very low electricity there are some still ROI'ing on old S3 they buy used. I have decent electricity price so I am still running some gear that is a generation old.
The summer does add a little more challenge to keeping gear cool. But ROIing can still and is being done by many. Just takes the right set of circumstances.
The network has reached the point where only the most efficient mining hardware working in the places with the cheapest electricity , have a chance to profit
difficulty is not even growing actually, there is an averaging decrease, looks at april we were at 5% now about 2%
now compare it with 2014 and the situation looks even better
now compare it with 2014 and the situation looks even better
It really is amazing comparing last year's difficulty to this year on growth. I mean we were hitting double digit all the time.
We are in like a ping pong game of difficulty. It goes up one week, and the next it's smacked back into negative. Makes it nice for miners right now. Summer would have been much harder without this trend.
difficulty is not even growing actually, there is an averaging decrease, looks at april we were at 5% now about 2%
now compare it with 2014 and the situation looks even better
now compare it with 2014 and the situation looks even better
Only with cheap or free electricity, difficulty is rising sky-high and Bitcoin prices are remaining relatively low. It's just easier to purchase Bitcoin's from a trusted exchange, mining requires not only electricity, but in the summer you must have a way to dissipate the heat.
Difficulty is actually growing at a very small rate. A lot including me thought it would go up massivly but it's expansion has slowed down. Not sure where you got the sky-high rising info but it is far from right.
And with decent electricity and smart mining it is possible to still ROI. But it no longer is 3 month ROI it will take more months to pay off gear then it once did.
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