If you have cheap electricity, maybe. Electricity at $0.05 per kilowatt-hour or less is ideal. Unfortunately it might be impossible to recover the cash used to buy the miner. I read an article where the money used to buy miners could actually get a higher profit if BTC were bought directly as the value of BTC rose. Therefore you might want to consider just buying the BTC instead of spending the time, money and effort trying to mine.
You are practically understood the process to make profits on smart way. As you said instead of buying miners and run with electricity cost. We can invest that money in multiple ways like in bitcoins and altcoins as well. Do you think we can't ignore mining for altcoins because am not sure how it gives you hands and it may helps to earn something. I hope you had a very practical experience and some impacts on mining. I will think about investment anyway.
Topic: is it still worth mining? (Read 3276 times)
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy.I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy.I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
Nah its not profitable for the "big coin" as there are warehouse of mining doing it, you can try new coins, they can be more profitable 
Another ill informed person giving terrible advice.
See this post....
https://bitcointalksearch.org/topic/m.23342615
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
As I have heard there are really lots of miners on those 3rd world countries but not on bitcoin mining but rather on altcoin mining instead.Knowing that even on those places the cost of electricity isn't cheap and turning out and comparing the probability of having some good profits will most likely to be seen on altcoin mining but depending on which coin you do mine.Its is actually profitable which most of them do make use 6-10 miners or even more which can be considered as medium scale altcoin mining which would really utilize the usage of those gpu inspite on having an expensive energy. I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
I think yes it is still worth it if you already have the resources. But if you are thinking of buying the parts needed, then you might get the return for a quite while. Im not saying the mining earning is slow today, but the competition grew already.
So in my opinion, if you are planning to spend a capital for mining, better yet invest it to Bitcoin. Because as all the Bitcoins are mined, the price then might spike up and demand will then be greater then the supply.
So in my opinion, if you are planning to spend a capital for mining, better yet invest it to Bitcoin. Because as all the Bitcoins are mined, the price then might spike up and demand will then be greater then the supply.
Short answer is yes. Long answer: it really depends on how much you're willing to invest into asic machines. Also you have to look at how expansive your electricity is where you live.
Right now I'm mining dash but the difficulty spiked by a lot so its not really worth it for now, I might just switch to an alt coin. Mining is all about making smart moves and keeping your machines as cold as possible (that's another factor you have to look at).
Right now I'm mining dash but the difficulty spiked by a lot so its not really worth it for now, I might just switch to an alt coin. Mining is all about making smart moves and keeping your machines as cold as possible (that's another factor you have to look at).
mining = gambling. Do you like to gamble?
Not exactly. Gambling ends each round, while mining is a continuous revenue. There is no moment where your have lost your equipment. And the value of coins gained ... just hodl them.Definitely mining needs deep pockets to endure a longer timespan.
Gambling needs deep pockets to not feel the losses, who will come for sure.
i have not long started mining and most services i mine with are paying me more than double back each year, if i can double my original investments each year tean times i would be a very happy man
Ultimately mining suits you. People are so much conscious about this. They want to shift from trading and investing and advertising to something different. They are ready to accept mining as the source of income but I think lack of the knowledge and the expertise made them a little confused. So I suggest mining is really profitable.
mining = gambling. Do you like to gamble?
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
The RollingStone magazine once dubbed "Six Ways America Is Like a Third-World Country" so yes, there are a lot of and Us in between them.
No, national economy shouldn't matter on the long run. Depends upon how long you can Hodl. If you mine you should reuse the heat in your home somehow, like a radiator. And keep the BTC.
Than, costs dont really matter.
i have not long started mining and most services i mine with are paying me more than double back each year, if i can double my original investments each year tean times i would be a very happy man
Ultimately mining suits you. People are so much conscious about this. They want to shift from trading and investing and advertising to something different. They are ready to accept mining as the source of income but I think lack of the knowledge and the expertise made them a little confused. So I suggest mining is really profitable.
What coin is best to mine using GPU at this moment?
i have not long started mining and most services i mine with are paying me more than double back each year, if i can double my original investments each year tean times i would be a very happy man
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
Electricity and mining are like pals. If you have searched through the thread, you must have known by now, that mining consumes a lot of electricity and unless you have a low electricity fee, you may not quickly get your ROI or probably be running losses.I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
You also just have to make some research on your own to decide how you want to go about it so you can do yourself some favors before quickly opting into it. But sure it pays, if you set it up rightly in the right place.
It is defo worth mining,, if only on a small scale, like the reply above, don't go for 'main coins, try the alts and newly released, your profits might surprise you..
You need a considerable investment. Business plan to be able to mine bitcoin or any other coin. The difficulty has went up and will keep going up, your electricity in your house in most cases will make it unprofitable as time passes without proper execution. I'd say, mining successfully is more risky than most investments. Just buy bitcoin or litecoin and ride it up!
It depends on how much capital you need to invest in mining rigs. the more you have it the more you'll earn. but right now its hard to run a mining rigs espcially when the market goes down, definitely ur rigs might affected too.
Nah its not profitable for the "big coin" as there are warehouse of mining doing it, you can try new coins, they can be more profitable
Hi guys, I heard of lot of 3rd world countries are mining coins....
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
I'm from the US and IDK if its worth it or not? due to electricity bills and stuff.
Now mining altcoins are much profitable than bitcoin because of the fast mining with the less hash rate expectation to mine the coins easily. If you are planning to invest on ASIC miner you can make much better profit with the multiple rigs. GPU mining will be fit for ETH or Monero mining. Check the near by electronic market to get the components to do set up.
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