Topic: Is it still worth it to mine bitcoins? What are alternatives for ASIC miners? (Read 146 times)
January 22, 2018, 01:04:08 PM
After doing some more research, it seems my ASIC miners can be used to mine any SHA256 coins but there doesn't seem to be any good mineable SHA256 coins out there anymore. At this point it seems like it's probably more profitable to just sell my ASIC miners on eBay or something since their value has doubled since I first bought them when USB ASIC miners first came out. If I'm missing something here or overlooked a good SHA256 coin to mine with my ASIC miners, then please let me know! Thanks!
January 22, 2018, 09:07:19 AM
Gpu Neoscript mining all day!!!!!!!!!! 
https://altminer.net/site/mining check umm out guys!
Look in to Masternode coins and your golden for 2018!
https://altminer.net/site/mining check umm out guys!
Look in to Masternode coins and your golden for 2018!
January 22, 2018, 08:58:34 AM
Without miners, bitcoin can't exist.
The miners make new coins (there are less than 4,2 million left to be mined until 2120) and they approve the transactions.
Your 5 Gh/s ASIC can't be used today. Even having free electricity you would mine bitcoins worthing $3,09 a year.
If you have cheap power cost and you can invest so much for an ASIC miner do it, otherwise you can mine other coins using GPUs and buy with them bitcoins.
The miners make new coins (there are less than 4,2 million left to be mined until 2120) and they approve the transactions.
Your 5 Gh/s ASIC can't be used today. Even having free electricity you would mine bitcoins worthing $3,09 a year.
If you have cheap power cost and you can invest so much for an ASIC miner do it, otherwise you can mine other coins using GPUs and buy with them bitcoins.
I don't have too much GPU power available then, I can probably manage a few hundred MH/s at best with GPU and CPU only. My 2 newest and most powerful GPU's is a GTX 660 followed by an Intel Iris Pro 580. What coins can I reasonably mine with that? And also, can those ASIC miners be used to mine other cryptocurrencies? I think there are other SHA256 coins based off bitcoin so would it be possible to mine those alternatives with my ASIC's so they don't go to waste?
January 21, 2018, 07:14:15 AM
Without miners, bitcoin can't exist.
The miners make new coins (there are less than 4,2 million left to be mined until 2120) and they approve the transactions.
Your 5 Gh/s ASIC can't be used today. Even having free electricity you would mine bitcoins worthing $3,09 a year.
If you have cheap power cost and you can invest so much for an ASIC miner do it, otherwise you can mine other coins using GPUs and buy with them bitcoins.
The miners make new coins (there are less than 4,2 million left to be mined until 2120) and they approve the transactions.
Your 5 Gh/s ASIC can't be used today. Even having free electricity you would mine bitcoins worthing $3,09 a year.
If you have cheap power cost and you can invest so much for an ASIC miner do it, otherwise you can mine other coins using GPUs and buy with them bitcoins.
January 19, 2018, 11:31:47 AM
Just don't try to just the Bitcoin mining race you will be in loss, alot of investment into the space and still continue, I think there are some coins you can still mine that will give you decent return on your investment, I think there are site that can help you with what to mine
January 19, 2018, 11:29:24 AM
Bitcoin's difficulty has raised enough now to give a real difficulty in earning good income through Bitcoin mining. Those days are gone when we used to get a good amount of Bitcoins to mine a few weeks worth of transactions. Most of the profit now you will make will go directly into paying your electricity bills and so you won't be able to generate a good amount of money through Bitcoin unless you have more Hashrate and cheap electricity.
You should probably try mining other coins which produce more income and then may be you could convert them to BTC.
You should probably try mining other coins which produce more income and then may be you could convert them to BTC.
January 19, 2018, 11:05:13 AM
I thik the time of Bitcoin mining has passed. It' too expensive and not so profitable as it was, for example, one year ago. For alternative you may invest in altcoins and BTC, and have the great passive profit ))
January 19, 2018, 10:49:35 AM
From what I understand Vertcoin is still one of the most profitable coins to mine, even after it's halving.
January 19, 2018, 08:39:06 AM
Well as far as electricity costs go, that's a non issue for me. But yeah I resumed mining for a day and it looks like I've made no progress with it. I can point my GPU's to something like XMR or Ethereum I guess or someone else suggested Vertcoin but I just don't know what's good to mine anymore, I'm really out of date and there's so many out there lol. As for my ASIC miners, are there any other coins out there that can be mined with those same ASIC devices? It'd be a shame to let them go to waste. Worst case I can mine other coins with my CPU and GPU and leave the ASICS to mine bitcoin but if there's something else like bitcoin that can reasonably be mined with my current ASICs, I might try that then if anyone can offer suggestions for that.
January 19, 2018, 12:01:49 AM
Mining bitcoin nowadays is harder than last years,mining difficulty is too huge the old versions of ASIC models wont give you a decent amount of BTC to pay your electricity,i suggest you to go mine ethereum,monero instead using cheap GPUs so you can maximize your mining hobby.
January 18, 2018, 11:45:58 PM
Mining is still very profitable, even today it is not too late to invest in this business and to receive a stable income. of course electricity bills are very high, but the profitability of mining is many times higher.
January 18, 2018, 11:22:57 PM
Mine ETH and XMR instead. You wouldn't need an ASIC for this but GPUs of course the electricity bill is just what you will be considering however so while you are mining, you might as well go on with your day job. My plan is to mine ETN , you might find it interesting to mine too, find out more about this Electronuem.
January 18, 2018, 11:16:45 PM
unless you have a warehouse full of ASIC and unlimited cheap/free electricity, i wouldn't quit your day job
January 18, 2018, 11:05:40 PM
Your 5GHs miner is effectively useless. In fact you are probably spending more in electricity than you are gaining by mining. If you had a current generation ASIC and cheap electricity then you would stand a chance. A lot of people have jumped on the GPU wagon. I'd look at that if you don't want to invest in current ASICs.
January 18, 2018, 04:51:44 PM
I used to mine bitcoins awhile ago but gave up after the whole Mt Gox incident where I lost quite a lot of what I mined. But now I'm finally getting back into mining. I have close to 5 GH/s worth of mining power at the moment and I've noticed I'm pretty much not even making a dent when mining bitcoins. So should I just be patient and continue to mine bitcoins or is there an alternative I can mine and still use my ASIC miners? I'm already considering redirecting my GPU's and CPU's to mine Vertcoin since I've been told that's still good to mine, even with a CPU. Anybody have any recommendations for what I should do? I'm probably not going to be able to increase my hash power significantly anytime soon either so for now I'll just have to work with what I have.
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