Is investing in mining still worth it? - page 4.

Eric Mu

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Quote from: arwin100 on December 02, 2016, 09:55:58 AM

Quote from: StarofBTC on December 02, 2016, 07:04:13 AM

Quote from: Zadicar on November 14, 2016, 09:17:11 AM

Quote from: JeffBrad12 on November 13, 2016, 07:54:49 PM

Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

You hear about solar roof used on houses? Those even cost almost $8000 which means it would took up long to reach your roi . Hardware mining would be profitable only if the electricity cost on your country is cheap if its expensive then dont bother to do mining farms. It would be useless and just wasting your time and money.

Yes I agree to this because the profit of mining has decreased significantly but been that said if you are mining with a lot of hash power and you have electricity free (well, some countries like India I heard people are doing something and getting free electricity) or very cheap then you should try it and you will earn good.

Well another option for them is to have an solar panel so they can lessen the electricity cost eventhough they are not on india, and i think i've read many people doing that and some of them got really huge profit from this doing, but for the other country well surely mining is not for them since electricity is the most expensive thing they will encounter and also the maintenance fee will be follow.

And the difficulty should really we need to look up so we cannot be fooled by any frauds who make a cloudmining scam as a business, its not worth to spend with and surely they will take our money if we go continue to invest at them,

Forget about solar panel - the initial investment factor is often underestimated. And if you look at China, the reason that it dominates the mining game is not that it has the cheapest electricity but the low cost of building a mining facility and cheaper price to pay for hardware.

Solar panel takes forever to ROI.

arwin100

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Quote from: StarofBTC on December 02, 2016, 07:04:13 AM

Quote from: Zadicar on November 14, 2016, 09:17:11 AM

Quote from: JeffBrad12 on November 13, 2016, 07:54:49 PM

Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

You hear about solar roof used on houses? Those even cost almost $8000 which means it would took up long to reach your roi . Hardware mining would be profitable only if the electricity cost on your country is cheap if its expensive then dont bother to do mining farms. It would be useless and just wasting your time and money.

Yes I agree to this because the profit of mining has decreased significantly but been that said if you are mining with a lot of hash power and you have electricity free (well, some countries like India I heard people are doing something and getting free electricity) or very cheap then you should try it and you will earn good.

Well another option for them is to have an solar panel so they can lessen the electricity cost eventhough they are not on india, and i think i've read many people doing that and some of them got really huge profit from this doing, but for the other country well surely mining is not for them since electricity is the most expensive thing they will encounter and also the maintenance fee will be follow.

And the difficulty should really we need to look up so we cannot be fooled by any frauds who make a cloudmining scam as a business, its not worth to spend with and surely they will take our money if we go continue to invest at them,

Eric Mu

sr. member

Activity: 471

Merit: 500

Mining is pretty much like a music chair game - there will always someone who will be eliminated in each round. To succeed, you have to be above certain percentage when it comes to cost control. If 20% miners are bound to lose money this year, then you need to raise your percentile above 20. As simple as that.

StarofBTC

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Quote from: Zadicar on November 14, 2016, 09:17:11 AM

Quote from: JeffBrad12 on November 13, 2016, 07:54:49 PM

Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

You hear about solar roof used on houses? Those even cost almost $8000 which means it would took up long to reach your roi . Hardware mining would be profitable only if the electricity cost on your country is cheap if its expensive then dont bother to do mining farms. It would be useless and just wasting your time and money.

Yes I agree to this because the profit of mining has decreased significantly but been that said if you are mining with a lot of hash power and you have electricity free (well, some countries like India I heard people are doing something and getting free electricity) or very cheap then you should try it and you will earn good.

@prashant

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Quote from: lol3c on November 28, 2016, 05:59:10 PM

Quote from: jovs on November 28, 2016, 05:39:36 PM

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think you should invest with only small amount so that, if ever that mining is scam, it is not much lost. Also, if you really want to invest on mining, ask its users and some reviews. Most of mining bitcoin nowadays tend to scam many people.

I don't think that is how people invest in mining because you can easily be stolen money from those sites. If you want to have a true investing, you need to contact mining experts and ask them how to set up your own mining system. The ROI would be 6 to 8 months but you will never be scamed. Try to stay away from Cloud mining, they are definitely scammers

Obviously most of them are ,and mining now is not profitable in any case even if you want to mine altcoins then also you need efficient miner hardware.so its better to stay away from mining, if you do not have good backup or unless your earning is totally dependent on cryptocurrency.

mrcash02

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Quote from: lol3c on November 28, 2016, 05:59:10 PM

Quote from: jovs on November 28, 2016, 05:39:36 PM

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think you should invest with only small amount so that, if ever that mining is scam, it is not much lost. Also, if you really want to invest on mining, ask its users and some reviews. Most of mining bitcoin nowadays tend to scam many people.

I don't think that is how people invest in mining because you can easily be stolen money from those sites. If you want to have a true investing, you need to contact mining experts and ask them how to set up your own mining system. The ROI would be 6 to 8 months but you will never be scamed. Try to stay away from Cloud mining, they are definitely scammers

Yes, doesn't matter the amount invested, big or low amount, you won't see any profit on it. The cloud mining initially, offers a average income that could result in a 1 year ROI. But as their income lower each new day, at some point this is impossible to happen. So, investors never know when they will hit ROI or if they will really hit ROI...

lol3c

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Quote from: jovs on November 28, 2016, 05:39:36 PM

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think you should invest with only small amount so that, if ever that mining is scam, it is not much lost. Also, if you really want to invest on mining, ask its users and some reviews. Most of mining bitcoin nowadays tend to scam many people.

I don't think that is how people invest in mining because you can easily be stolen money from those sites. If you want to have a true investing, you need to contact mining experts and ask them how to set up your own mining system. The ROI would be 6 to 8 months but you will never be scamed. Try to stay away from Cloud mining, they are definitely scammers

jovs

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Activity: 672

Merit: 250

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think you should invest with only small amount so that, if ever that mining is scam, it is not much lost. Also, if you really want to invest on mining, ask its users and some reviews. Most of mining bitcoin nowadays tend to scam many people.

lumeire

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IMO even if the outlook of investing into mining is a bit good because of the price, I wouldn't put the majority of my investments into it. Remember, it's not only the difficulty and the price that's at play here, it's more complicated than that, and I see it as not worth the trouble.

boyptc

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Quote from: Oilacris on November 25, 2016, 11:42:19 PM

Quote from: jovs on November 25, 2016, 10:44:44 PM

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think yes. I'd manifested on that site abd I earn profit. More profitable if I am using less electric power cost.
I have invest $500 dollar on last month and now I'm gaining profit then put it in investment again.

Investing on hashnest is also a good thing though but it wont be a guarantee to last forever and also mining difficulty would be the problem you will experience on the long run and you will surely notice it when your profits or earning will be lessen.If you do have the money and a low electricity cost on your country then mining would be a good move but suggesting a cloudmining site,i dont think so.

Even many feed back that has making it as positive cloud mining site. Still we can't remove the bad reputation of cloud mining. Just always learn from what happened from the past and we will all be guided. There are just some people who are willing to take risk in accordance for the possible profit that they can made from it.

Oilacris

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Quote from: jovs on November 25, 2016, 10:44:44 PM

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think yes. I'd manifested on that site abd I earn profit. More profitable if I am using less electric power cost.
I have invest $500 dollar on last month and now I'm gaining profit then put it in investment again.

Investing on hashnest is also a good thing though but it wont be a guarantee to last forever and also mining difficulty would be the problem you will experience on the long run and you will surely notice it when your profits or earning will be lessen.If you do have the money and a low electricity cost on your country then mining would be a good move but suggesting a cloudmining site,i dont think so.

jovs

sr. member

Activity: 672

Merit: 250

Quote from: pandalion98 on June 24, 2016, 01:29:59 AM

Right now, I'm planning to invest more or less $100 in HashNest since I've used their services before, but on a very very small scale.

$100 would get me about 1TH. Would it still be worth it? Based on some calculations, the ROI would be just under 90 days. Their prices are pretty stable.

I think yes. I'd manifested on that site abd I earn profit. More profitable if I am using less electric power cost.
I have invest $500 dollar on last month and now I'm gaining profit then put it in investment again.

Mark02

full member

Activity: 224

Merit: 100

Quote from: ultrloa on November 25, 2016, 06:37:23 AM

Quote from: Qinetik on November 25, 2016, 06:08:45 AM

Quote from: Frank Alister on November 14, 2016, 12:46:30 PM

I put your question differently. What if no one engaged in mining? Mining is important because it continues the production of btc. I believe that it's till worth it someone to invest on mining but also I know that doesn't have many benefits but we specify how many and what benefits it will has for whatever we do.

You can earn more bitcoins by investing in the altcoin mining then sell the coins for the bitcoin. That is more efficient.

So where do you mine that? Does any cloudmining site offers alt mining? But for what i've seen genisis mining offers zcash but i think i see some people claims that it is not worth it to go invest on alt mining on their, but if you have an hardware to mine alts well actually you can earn some profits with that but don"t expect for it to became more bigger.

I think it is best to mine bitcoins rather than any other Alternative Coins. That was just my opinion. Well since bitcoins price is in his high's now. We can say that it will generate more profit over your expenses and the demand of bitcoin is continuing to increase making it suitable to hold your mined bitcoin and sell it in a much higher price.

ultrloa

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Quote from: Qinetik on November 25, 2016, 06:08:45 AM

Quote from: Frank Alister on November 14, 2016, 12:46:30 PM

I put your question differently. What if no one engaged in mining? Mining is important because it continues the production of btc. I believe that it's till worth it someone to invest on mining but also I know that doesn't have many benefits but we specify how many and what benefits it will has for whatever we do.

You can earn more bitcoins by investing in the altcoin mining then sell the coins for the bitcoin. That is more efficient.

So where do you mine that? Does any cloudmining site offers alt mining? But for what i've seen genisis mining offers zcash but i think i see some people claims that it is not worth it to go invest on alt mining on their, but if you have an hardware to mine alts well actually you can earn some profits with that but don"t expect for it to became more bigger.

Qinetik

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Quote from: Frank Alister on November 14, 2016, 12:46:30 PM

I put your question differently. What if no one engaged in mining? Mining is important because it continues the production of btc. I believe that it's till worth it someone to invest on mining but also I know that doesn't have many benefits but we specify how many and what benefits it will has for whatever we do.

You can earn more bitcoins by investing in the altcoin mining then sell the coins for the bitcoin. That is more efficient.

Supercrypt

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Quote from: Frank Alister on November 14, 2016, 12:46:30 PM

I put your question differently. What if no one engaged in mining?

No one is here suggesting not to engage in mining. Some people are suggesting not to invest into cloud mining as it is not profitable in quick time. ROI may requires you to wait around one year.

Quote from: Frank Alister on November 14, 2016, 12:46:30 PM

I believe that it's till worth it someone to invest on mining but also I know that doesn't have many benefits but we specify how many and what benefits it will has for whatever we do.

No it is not worth as per the current bitcoin price levels and its mining difficulty levels.
Mining is a good business if you are able to invest in industry level. You must need more number of latest ASICs to have decent profits out of it else it is highly suggested not to try it.

Frank Alister

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I put your question differently. What if no one engaged in mining? Mining is important because it continues the production of btc. I believe that it's till worth it someone to invest on mining but also I know that doesn't have many benefits but we specify how many and what benefits it will has for whatever we do.

Chizuo

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Quote from: Zadicar on November 14, 2016, 09:17:11 AM

Quote from: JeffBrad12 on November 13, 2016, 07:54:49 PM

Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

You hear about solar roof used on houses? Those even cost almost $8000 which means it would took up long to reach your roi . Hardware mining would be profitable only if the electricity cost on your country is cheap if its expensive then dont bother to do mining farms. It would be useless and just wasting your time and money.

Ya your are right.Is not people don wan to mining on their own by for the person like me who live in country that charge High Cost Electricity for a month,mining is not recommended.The other alternative is solar energy that can generate electricity but the cost for build this is totally high.

Zadicar

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Quote from: JeffBrad12 on November 13, 2016, 07:54:49 PM

Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

You hear about solar roof used on houses? Those even cost almost $8000 which means it would took up long to reach your roi . Hardware mining would be profitable only if the electricity cost on your country is cheap if its expensive then dont bother to do mining farms. It would be useless and just wasting your time and money.

JeffBrad12

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Activity: 2954

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Quote from: BitHodler on November 10, 2016, 02:52:00 PM

Quote from: soros017 on November 10, 2016, 12:03:30 PM

I was interested in building a btc mining farm, a solar-powered one. It seems to be the future of mining. Unfortunately I can't find enough information about the price of it, but by the models that I see, it looks expensive.

It doesn't only look expensive, but building up a decent home level farm is indeed an expensive investment where you constantly need to invest into your farm due to the difficulty going higher and higher.

If you don't keep adding extra gear from time to time, then you'll fall behind significantly where you'll have a hard time even getting 75% of your initial investment amount back.

What is your budget if I may ask? And at what hardware have you been looking? What country you're from?

Even, I was read on some reliable article about the solar plants building cost. I might have said if that's not suitable in my mind.
The minimum cost for building my own solar plant are $10.000 and it was taken over 20 years for ROI, but I call this just saving some of my monthly bills. The solar plant might not have worth in this time.

Topic: Is investing in mining still worth it? - page 4. (Read 12805 times)