Topic: I want to know about BTC mining - page 3. (Read 2357 times)

Yeah, it basically is about pushing down the costs as much as possible. You need to have as little overhead as possible! Also, you need to have access to really cheap electricity! That's basically the key to still earn money from mining!

It basically comes down to what you intend to mine. A lot of altcoins chose to use another PoW algorithm than SHA256, in order to be ASIC resistant, but that didn't work. Mining altcoins is still more profitable if you only have a GPU, since there aren't ASICs for all the latest altcoins that are being released and for that reason you may still mine them with a regular computer - that's why people are mining them if they don't have an ASIC

oh and forget about solo mining! join a pool

you need to hire asic machines or buy one if you want if u want a chance

GPU mining profitable is even worse right now.. look at the profit for x11..

Mining can be only profitable if you either invest a large sum, or speculate on new altcoins. It's difficult to pull off.

I honestly wouldn't even consider it with less than an hundred thousand... I've had a quick discussion with a dude some time ago who was going to invest in an established farm by buying a share. I think he was going to invest some 7-digits number.

I'd say that's what it takes to get into BTC mining with reasonable risk by now. I told him to do a GPU multipool instead!

You better mine altcoins, theycan stey profitable for some while.

mining is only profitable for big asic cartels, the mining game is over for peasants like us 

That's mostly face-value rhetoric. For most people, altcoin mining is more profitable than Bitcoin mining. For a few, it's the other way around. Mining profitability is largely dependent on the investment that one is willing to put into the endeavor. Unfortunately, the investment necessary to net any substantial profit from Bitcoin mining is phenomenal. Unless you are willing to invest tens of thousands of dollars to purchase high-end mining ASICs, then you will always come out with a loss when mining Bitcoins. Altcoins, on the other hand, can be mined with regular computer components and at far lower difficulties. There are additional costs to consider, but some people are lucky enough to net at least a few cents worth of coins a day. The profit is not much, but it's much higher than what you would get from mining Bitcoin without a hefty investment.

If you're a beginner, start by mining more established coins with relatively low difficulties. You might be tempted to mine newer coins, but there are so many risks involved with those types of coins that are not worth the pittance that you'll get from mining them. Once you've mined a few coins, you can then decide if you want to make an investment towards mining Bitcoins.

As for what coin you should mine, you should do your own due diligence on them. Shills abound on this board, and they all want to make a quick buck at everyone else's expense.

Btc mining isn't profitable, you should have thousands of $ in order to set up a mining farm, otherwise you won't earn anything.

I am a new comer. I am here to learn about BTC. Specially BTC mining. I hope everyone will help me. I have heard that altcoin mining is much more profitable than BTC mining. So what should i do? Go for altcoin mining or start with BTC mining?