I would just consider buying at this point.
Only because the prices are back where it once were before the whole mt. gox fiasco. You can actually have a 2nd chance at bitcoin to see some real solid events if or when it does occur, on what the price would look.
Topic: Has mining (vs. simply buying) ever been profitable? (Read 2521 times)
Buying is still the best way to go, esp you dont want to have the hardware risk.
But, what needs to happen is building a service around mining would be better and still have a form of btc coming your way.
Which is what most people want in general.
But, what needs to happen is building a service around mining would be better and still have a form of btc coming your way.
Which is what most people want in general.
Mining hasn't been profitable in the UK for a long time even with the latest efficient hardware. I've been running my miners at a loss until recently simply because I like supporting the network and its an interesting hobby. It was also creating some heat during the winter months to offset the loss a little.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed
.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed
.Well, yes. The era of small house miners, especially rigs, has come to an end. There are some cloud mining options which can still be profitable with constant reinvesting. But 2009-2012 level of mining s over.
The hard part I see with a lot of Europe is VAT. Depending on country and tax it adds a additional amount to ROI. Combine that and high electricity it's a loss. If it's that bad I suggest looking into hosting.
Mining is still here and going strong, just is no longer the 90 day ROI almost guarantee. Also a big chance the miners are only good for miners day's of GPU's are over. GPU's did a good job of keeping a lot of your investment with secondary markets afterwards having gamers as well as miners.
With low electricity, no vat I still say mining will last. At next halfing I don't know what will happen but it will go for a the immediate future.
Mining hasn't been profitable in the UK for a long time even with the latest efficient hardware. I've been running my miners at a loss until recently simply because I like supporting the network and its an interesting hobby. It was also creating some heat during the winter months to offset the loss a little.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed
.Well, yes. The era of small house miners, especially rigs, has come to an end. There are some cloud mining options which can still be profitable with constant reinvesting. But 2009-2012 level of mining s over.
Mining hasn't been profitable in the UK for a long time even with the latest efficient hardware. I've been running my miners at a loss until recently simply because I like supporting the network and its an interesting hobby. It was also creating some heat during the winter months to offset the loss a little.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed.
Now its spring and its warmed up I cant justify the expense any more so have just sold them and doubt very much whether it'll be worth mining again.
Very sad times indeed
.
For ordinary people, mining s become more of a hobby. Profit s really hard to get.
Mining is a different investment than buying, because you are betting on a different outcome. Think about it, if you calculate ROI, you count it for the current price, which means if the price stays the same you will still profit. At the same time if you buy Bitcoins you are aiming for the price increase, so if it stays the same you won't profit. It's really as simple as that, so we could say mining should be more profitable.
The downside is that when you have coins you can sell and invest somewhere else. When you mine you are in for the long run.
The downside is that when you have coins you can sell and invest somewhere else. When you mine you are in for the long run.
I'm going to make the argument that yes, in fact, it is more profitable to mine. Now before you do your maths, hear me out: Anyone mining is adding to the bitcoin economy. If you're mining, you're processing transactions, helping bitcoin grow. If you're a home miner (or fairly small) then you're helping decentralize it. Simply buying and holding bitcoin really doesn't do a thing for anyone. Buying and spending could help- but most simply buy and hold, and spend dollars/euros/whatever on their purchases, because that's what vendors accept.
So I'm going to say yes, it is worth it to mine because you need to get bitcoin a foothold if it is going to become really profitable ever for anyone. Buying and holding sounds like a good way to make bitcoin wither away. Mining strengthens and decentralizes bitcoin.
If it really comes to it I could also try to win this argument anyways because my power is pretty cheap. I haven't mined a lot but I have always made positive ROI.
--
novak
So I'm going to say yes, it is worth it to mine because you need to get bitcoin a foothold if it is going to become really profitable ever for anyone. Buying and holding sounds like a good way to make bitcoin wither away. Mining strengthens and decentralizes bitcoin.
If it really comes to it I could also try to win this argument anyways because my power is pretty cheap. I haven't mined a lot but I have always made positive ROI.
--
novak
I think more make ROI then they think. The safest bet is BTC mining. It just has a lot less unknown. A miner with decent priced electricity can run a miner, once almost not making profit sell the miner. Between those two hopefully they make a profit.
One thing I think a lot look at is Scrypt it had a hard crash on mining gear. A lot did not make their money back. I don't see this happening again on miners but I cannot predict future.
I'm going to make the argument that yes, in fact, it is more profitable to mine. Now before you do your maths, hear me out: Anyone mining is adding to the bitcoin economy. If you're mining, you're processing transactions, helping bitcoin grow. If you're a home miner (or fairly small) then you're helping decentralize it. Simply buying and holding bitcoin really doesn't do a thing for anyone. Buying and spending could help- but most simply buy and hold, and spend dollars/euros/whatever on their purchases, because that's what vendors accept.
So I'm going to say yes, it is worth it to mine because you need to get bitcoin a foothold if it is going to become really profitable ever for anyone. Buying and holding sounds like a good way to make bitcoin wither away. Mining strengthens and decentralizes bitcoin.
If it really comes to it I could also try to win this argument anyways because my power is pretty cheap. I haven't mined a lot but I have always made positive ROI.
--
novak
So I'm going to say yes, it is worth it to mine because you need to get bitcoin a foothold if it is going to become really profitable ever for anyone. Buying and holding sounds like a good way to make bitcoin wither away. Mining strengthens and decentralizes bitcoin.
If it really comes to it I could also try to win this argument anyways because my power is pretty cheap. I haven't mined a lot but I have always made positive ROI.
--
novak
Most apartment have limited number of outlets one can use. Unless its a large 3-4 bedroom apartment which is rare to find. Some 1 bedroom apartment only have 2 breakers.
Apartments normally are not the best for mining. With owning your house you can modify it to exhust without making landlord mad.
Also as a house I have 2 electrical lines coming into my house. Allows for much more power.
Most apartment have limited number of outlets one can use. Unless its a large 3-4 bedroom apartment which is rare to find. Some 1 bedroom apartment only have 2 breakers.
There is absolute no free energy, that some let other pay for them does not mean its free.
I know alot of students who rented a room which inlcuded energy prices, some of these now have to pay for energy because a previous renter took advantage over the back of others.
A person who i know which leases appartements changed all his contracts for the rentals because some where mining massively in these appartments.
One person even fled from the country because he has a outstanding debt he probably never can pay, because this owner won in court (mining is not considered as normal usage of energy in a rented house).
You can/could only make a fair profit ( so above ROI ) if you have/had a large amount of miners and have cutting edge machines and very low power prices.
If you have time to trade and buy coins you probably can make a bit more profit, unless bitcoin jumps again at a extreme high value.
But i do not expect that to happen anytime soon, it might happen in a few years or not at all.
There is a bubble going on in the stock markets its probably even making it harder for bitcoin to gain some serious value.
Its visible in the Gold market as well, stocks go up precious metals goes down.
I know alot of students who rented a room which inlcuded energy prices, some of these now have to pay for energy because a previous renter took advantage over the back of others.
A person who i know which leases appartements changed all his contracts for the rentals because some where mining massively in these appartments.
One person even fled from the country because he has a outstanding debt he probably never can pay, because this owner won in court (mining is not considered as normal usage of energy in a rented house).
You can/could only make a fair profit ( so above ROI ) if you have/had a large amount of miners and have cutting edge machines and very low power prices.
If you have time to trade and buy coins you probably can make a bit more profit, unless bitcoin jumps again at a extreme high value.
But i do not expect that to happen anytime soon, it might happen in a few years or not at all.
There is a bubble going on in the stock markets its probably even making it harder for bitcoin to gain some serious value.
Its visible in the Gold market as well, stocks go up precious metals goes down.
Were these apartment complex's or something rented from individuals?
I could be out of it but the big apartments I went to pretty much could have cared less on electricity. I didn't mine as my roommates would have had to pay a "peek" fee of 25 dollars per month. But I never once heard of the big apartment complex's being mad over electricity, normally they had bigger things to worry about.
There is absolute no free energy, that some let other pay for them does not mean its free.
I know alot of students who rented a room which inlcuded energy prices, some of these now have to pay for energy because a previous renter took advantage over the back of others.
A person who i know which leases appartements changed all his contracts for the rentals because some where mining massively in these appartments.
One person even fled from the country because he has a outstanding debt he probably never can pay, because this owner won in court (mining is not considered as normal usage of energy in a rented house).
You can/could only make a fair profit ( so above ROI ) if you have/had a large amount of miners and have cutting edge machines and very low power prices.
If you have time to trade and buy coins you probably can make a bit more profit, unless bitcoin jumps again at a extreme high value.
But i do not expect that to happen anytime soon, it might happen in a few years or not at all.
There is a bubble going on in the stock markets its probably even making it harder for bitcoin to gain some serious value.
Its visible in the Gold market as well, stocks go up precious metals goes down.
I know alot of students who rented a room which inlcuded energy prices, some of these now have to pay for energy because a previous renter took advantage over the back of others.
A person who i know which leases appartements changed all his contracts for the rentals because some where mining massively in these appartments.
One person even fled from the country because he has a outstanding debt he probably never can pay, because this owner won in court (mining is not considered as normal usage of energy in a rented house).
You can/could only make a fair profit ( so above ROI ) if you have/had a large amount of miners and have cutting edge machines and very low power prices.
If you have time to trade and buy coins you probably can make a bit more profit, unless bitcoin jumps again at a extreme high value.
But i do not expect that to happen anytime soon, it might happen in a few years or not at all.
There is a bubble going on in the stock markets its probably even making it harder for bitcoin to gain some serious value.
Its visible in the Gold market as well, stocks go up precious metals goes down.
Yes it has. During GPU day's was the best in my opinion. But ROI still can be made on asics with low electricity costs.
if mining is profitable, it's always better to mine than investing in bitcoin directly, because you will end up with more btc at the end, simply buying can increase your capital(if bitcoin rise), but do not increase your bitcoin amount(unless you are a good trader too), were with mining you increase both
Only if costs of production are less than amount of coin mined.
I see so many posts about free electricity, etc. Mining uses electricity. Even if YOU don't directly pay for it, somebody does. But the simple fact is some folks are/were able to mine with equipment that produced more coins over their life time than they cost (less resale value). In 2013, almost all of my mining was profitable because the miners held their value while I was churning them. 2014 was just minimally profitable for me. Here my electricity costs are $.0751/kwh.
if mining is profitable, it's always better to mine than investing in bitcoin directly, because you will end up with more btc at the end, simply buying can increase your capital(if bitcoin rise), but do not increase your bitcoin amount(unless you are a good trader too), were with mining you increase both
I know if you have either a ASIC miner and/or GPU mining when entering 2014, you would of been filthy filthy filthy flthy RICH!
Don't know about 2011-2013 however.
Don't know about 2011-2013 however.
Is this sarcasm? LOL.
But just in case you are serious, 2014 was probably the worst time to make profits - either through mining or buying them from an exchange. Even if you didn't have all your coins stored on Mt. Gox when it collapsed, the BTC price dropped from $900 in January to $300 by December so any coins held during that time would have lost 66% of their value. GPU mining wasn't profitable any time in 2014. Most (if not all) ASICs probably weren't either.
EDIT: Or perhaps you meant 2013?
No I said entering 2014 because around Nov 2013-Jan 2014 were the most profits in those months
But I was around during that time and GPU mining was already obsolete by then. You could have mined Dogecoin with GPUs and made a handsome profit but Bitcoin was already dominated by ASICs. Pretty much all of the increase in BTC price happened before December 1, 2013. After December 1, 2013, the price of BTC began a long decline which was only once temporarily reversed in mid-2014 when it shot back up to $600 but the price has been falling consistently ever since.
I know if you have either a ASIC miner and/or GPU mining when entering 2014, you would of been filthy filthy filthy flthy RICH!
Don't know about 2011-2013 however.
Don't know about 2011-2013 however.
Is this sarcasm? LOL.
But just in case you are serious, 2014 was probably the worst time to make profits - either through mining or buying them from an exchange. Even if you didn't have all your coins stored on Mt. Gox when it collapsed, the BTC price dropped from $900 in January to $300 by December so any coins held during that time would have lost 66% of their value. GPU mining wasn't profitable any time in 2014. Most (if not all) ASICs probably weren't either.
EDIT: Or perhaps you meant 2013?
No I said entering 2014 because around Nov 2013-Jan 2014 were the most profits in those months
I know if you have either a ASIC miner and/or GPU mining when entering 2014, you would of been filthy filthy filthy flthy RICH!
Don't know about 2011-2013 however.
Don't know about 2011-2013 however.
Is this sarcasm? LOL.
But just in case you are serious, 2014 was probably the worst time to make profits - either through mining or buying them from an exchange. Even if you didn't have all your coins stored on Mt. Gox when it collapsed, the BTC price dropped from $900 in January to $300 by December so any coins held during that time would have lost 66% of their value. GPU mining wasn't profitable any time in 2014. Most (if not all) ASICs probably weren't either.
EDIT: Or perhaps you meant 2013?
I know if you have either a ASIC miner and/or GPU mining when entering 2014, you would of been filthy filthy filthy flthy RICH!
Don't know about 2011-2013 however.
Don't know about 2011-2013 however.
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