How is mining successful nowadays - page 2.

margana

full member

Activity: 153

Merit: 102

Quote

0.09 is marginal for long-term mining. It's been viable since about Febuary this year due to a massive price jump on almost all cryptocoins, but profitability has been dropping a LOT the last couple months as the price rise leveled out and more and more rigs got online to raise the difficulty - and that trend will probably continue for a while since most of the BIG farms are in places with very cheap electric (under 5c/kwh and often more like 3).

Bitcoinwisdom calculator has a "diff increase percentage" field in the calculator, which is a lot better than the "nothing" most other calculators offer.

Wow. Where do they have electricity at 0.03-0.05 per Kwh?

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: margana on September 10, 2017, 03:49:44 AM

Quote from: NotFuzzyWarm on September 09, 2017, 02:36:51 PM

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Bullsh**
For both BTC or altcoin mining only 2 things matter:
Cost of your electric
Being able to deal with the heat and noise produced

Cover those 2 things and you are Golden. The >US$8k/mo in gross revenue my 240THs farm makes is hardly chicken feed.

Is $0.09 per KWH workable? If so what mining hardware do you recommend?

Also do you know any good calculator (or how tos for a spreadsheet) to take into account changing difficulty over time?

0.09 is marginal for long-term mining. It's been viable since about Febuary this year due to a massive price jump on almost all cryptocoins, but profitability has been dropping a LOT the last couple months as the price rise leveled out and more and more rigs got online to raise the difficulty - and that trend will probably continue for a while since most of the BIG farms are in places with very cheap electric (under 5c/kwh and often more like 3).

Bitcoinwisdom calculator has a "diff increase percentage" field in the calculator, which is a lot better than the "nothing" most other calculators offer.

margana

full member

Activity: 153

Merit: 102

Quote from: NotFuzzyWarm on September 09, 2017, 02:36:51 PM

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Bullsh**
For both BTC or altcoin mining only 2 things matter:
Cost of your electric
Being able to deal with the heat and noise produced

Cover those 2 things and you are Golden. The >US$8k/mo in gross revenue my 240THs farm makes is hardly chicken feed.

Is $0.09 per KWH workable? If so what mining hardware do you recommend?

Also do you know any good calculator (or how tos for a spreadsheet) to take into account changing difficulty over time?

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: NotFuzzyWarm on September 09, 2017, 02:36:51 PM

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Bullsh**
For both BTC or altcoin mining only 2 things matter:
Cost of your electric
Being able to deal with the heat and noise produced

Cover those 2 things and you are Golden. The >US$8k/mo in gross revenue my 240THs farm makes is hardly chicken feed.

POS or proof of stakes coin does not require any of those. You can mine even if your pc is turned off but it needs to have some capital because you have to buy some coins that needs to age in your wallet before it can start mining. You just need to join supernodes and you are good. You check see NEM so you can find out how to mine by pos.

btcdevil

legendary

Activity: 1302

Merit: 1027

Quote from: NotFuzzyWarm on September 09, 2017, 02:36:51 PM

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Bullsh**
For both BTC or altcoin mining only 2 things matter:
Cost of your electric
Being able to deal with the heat and noise produced

Cover those 2 things and you are Golden. The >US$8k/mo in gross revenue my 240THs farm makes is hardly chicken feed.

What you said is correct that electricity cost and dealing with heat and noise produced should be handled first, then only you mining will be profitable. Instead of mining bitcoin you can min altcoins which are giving good returns in both mining and when mined the price should be good to exchange to btc.

youngagethinker

full member

Activity: 193

Merit: 100

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

This is true. To a commercial grade mining altcoins will be the best choice, billionaires companies like McFee supports Bitcoin because they can support the necessary hardwares, maintenance and operations. It would be bad for them if the price will be below 3000$. They are one of the reasons why bitcoins system is running, and it would be bad if China will raid BTC mining farms there.
On the other hand I think Zcash is a good altcoin to mine.
Monero is also reaching hardfork.

NotFuzzyWarm

legendary

Activity: 3822

Merit: 2703

Evil beware: We have waffles!

Quote from: hammo on September 09, 2017, 09:36:12 AM

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Bullsh**
For both BTC or altcoin mining only 2 things matter:
Cost of your electric
Being able to deal with the heat and noise produced

Cover those 2 things and you are Golden. The >US$8k/mo in gross revenue my 240THs farm makes is hardly chicken feed.

hammo

sr. member

Activity: 493

Merit: 250

bitcoin is not profitable anymore. you should try altcoins. but if you will keep your bitcoins you can mine.

Salmen

legendary

Activity: 1059

Merit: 1020

For newcomers, it is preferable to mine different altcoins and not only Bitcoin, or sell their hash power to NiceHash or MiningRigRentals. According to WhatToMine is DEM the best profitable coin to mine while Bitcoin is behind Bitcoin Cash and Nicehash.

Thetaj

full member

Activity: 402

Merit: 116

It isn't, We're about to be hit by a 25% diff increase next week. which means all BTC miners are fucked if the price doesn't increase another 25%
'

Bingooop

newbie

Activity: 54

Merit: 0

Since I am having no experience in mining so please tell how mining can help newcomers like me

Topic: How is mining successful nowadays - page 2. (Read 2036 times)