Topic: Is Bitcoin Mining Still Profitable? (Read 1160 times)

Very like because the price reach $830, and as my calculation I will mining use S5 and also in my country the wet season so that the weather is cold and it could reduce the use of cooling cost.

If you invested in a cloud mining company, you more than likely went for a ponzi scheme or scam site, since there are so many of them around. If you did a lot of research, its possible you found a legit cloud mining company, the problem with those though, is they are not as profitable as you want them to be. Bitcoin mining profit margins are normally pretty slim, and if a cloud mining company is promising great returns, its an even bigger red flag.
Try to see if you can withdraw your profit each day...scam sites normally dont allow this, or want you to re-invest your profit for more hashing power. This is where they catch you....you see great profits (on the screen) but keep re-investing and dont withdraw. What is really happening is they keep getting users to put more money in, and never withdraw anything because the numbers look too good. Eventually if its a scam or ponzi, they will vanish with all the bitcoin, and you will be left with nothing.

The best way around this is to make sure you can withdraw daily, and do that immediately from the beginning. Never ever re-invest profit, until you have withdrawn more than you put into the site. Only then have you really made any profit at all. After that time, you can try alternating with one day withdraw, one day re-invest, so that you get some money out as well as push up your hashing power.

Over the last year difficulty has increased over 3 times what it was. 100 billion to 300 billion and higher that we're at now. If you factor that into your calculations, even if you have cheap electricity at .06 like I do, your profit will take a VERY long time and considerable amount of luck that your hardware does not have any problems with it. Do a basic mining calculator on the r4 or s9 and you'll see with everything STAYING THE SAME it will take you over a year to profit. Factor in that huge decrease in revenue due to more power being added, you're getting cucked mate.

Bitcoin mining is profitable if you do have low electricity cost and you are doing hardware mining but as you mentioned you do invest on cloudmining,i just want to ask on which cloud mining did you invest?If you do put your money on genesis or hashflare then i could say you putted it on somehow a reputable cloud mining that still operating as of these days but if you invest on shady cloud mining sites then chances of being scammed is high.

For a while yet is profitable, I switch to mining altcoin. This is because the price of electricity in my place is 15 cents, so if the price reach $1.000 then profitable.

Good luck hitting roi. Very few ever do, and those that do are pretty lucky considering most cloudmining operations are scams and ponzis. Not a very sound investment, you're better off investing in gambling sites imo.

Mining could be profitable if you have very low electricity cost. About investing on cloud mining, its an high risk because most of the cloud mining companies are scam.

Cloud mining is hit or miss because the yield you are getting depends on a lot of factors. And sometimes the projected figures of profit you are promised might not pan out as expected and you could possibly go into negative profit. I don't think anyone could give you a 100% correct answer as cloud mining companies differ a lot from each other.

Hello, is there anyone who can say if Bitcoin mining is still profitable. I just invested 100€ to cloud mining.