Is it worth mining? - page 3. | Bitcointalksearch.org

jeffthebaker

legendary

Activity: 1526

Merit: 1034

Quote from: notlist3d on October 04, 2015, 01:14:06 PM

Quote from: jeffthebaker on October 04, 2015, 12:40:06 PM

Quote from: Atomictie on October 04, 2015, 12:38:05 PM

Even if you have free electricity ROI is hard to reach if you spend money for miners

In 4 years with free electricity, one still may not make their money back? I'm personally not a miner, and I understand it's too late in the game for the general population to get involved... but that sounds ridiculous. With free electricity, OP still shouldn't expect to turn a profit?

Some are pretty anti-mining. Best way to calculate ROI is something like this - https://bitcoinwisdom.com/bitcoin/calculator

OP add up all costs including if you have VAT, etc. That will help you see how long a miner would take to pay off. Also when you say 4 years are you talking about some kinda student housing where you just have one room?

Ahh I see, it makes sense that you would have to take other variables into account (like heat and bandwidth(?) I would assume). I've been in Bitcoin way too long to still have relatively no clue on mining, so trying to teach myself a little bit Tongue

EthanB

sr. member

Activity: 462

Merit: 336

Asking questions like this regularly mean that you're not prepared to consider mining. You need to be aware of every cost involved before you get into a project. Mining is extremely competitive and extraordinarily saturated at this point. You may be better off mining alt-coins and selling them for BTC.

TheRealSteve

hero member

Activity: 686

Merit: 500

FUN > ROI

Quote from: notlist3d on October 04, 2015, 01:14:06 PM

Best way to calculate ROI is something like this - https://bitcoinwisdom.com/bitcoin/calculator

Just make sure that if you get any long-term results before breaking even, you check whether the calculator being used takes the reward halving come half-way-ish 2016 into account; this one does not at this time.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: notlist3d on October 04, 2015, 06:20:09 PM

Quote from: tiggytomb on October 04, 2015, 04:19:18 PM

I think you might have more luck mining some altcoins rather than Bitcoin to make any profit.

What gear do you suggest doing this with? Mining altcoins is much easier said then done.

Most of R/D goes into bitcoin (sha) miners. The best chance of ROI is likely with a btc asic not some old scrypt asic.

If you have free electricity, you could safely go with a proper rig of GPUs, but this discussion belong in another forum section.

So for the limit of this topic, the only way to go is ASIC, the question is which ASIC which raise the following questions;

Your location;
Outside Temp;
Housing condition;
Electricity cost;
Electricity grid capacity

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: tiggytomb on October 04, 2015, 04:19:18 PM

I think you might have more luck mining some altcoins rather than Bitcoin to make any profit.

What gear do you suggest doing this with? Mining altcoins is much easier said then done.

Most of R/D goes into bitcoin (sha) miners. The best chance of ROI is likely with a btc asic not some old scrypt asic.

tiggytomb

legendary

Activity: 1848

Merit: 1000

I think you might have more luck mining some altcoins rather than Bitcoin to make any profit.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: jeffthebaker on October 04, 2015, 12:40:06 PM

Quote from: Atomictie on October 04, 2015, 12:38:05 PM

Even if you have free electricity ROI is hard to reach if you spend money for miners

In 4 years with free electricity, one still may not make their money back? I'm personally not a miner, and I understand it's too late in the game for the general population to get involved... but that sounds ridiculous. With free electricity, OP still shouldn't expect to turn a profit?

Tell us more about your mining capacity, and your location.

The way i would do it right now is grab all the S3 for under 80$ i can. Grab all the S5 for under 250$ and mine them for the next year. Wait until the halving to see what happen. But these generate Heat and Noise. So free electricity is not the only concern.

Give us more information.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: jeffthebaker on October 04, 2015, 12:40:06 PM

Quote from: Atomictie on October 04, 2015, 12:38:05 PM

Even if you have free electricity ROI is hard to reach if you spend money for miners

In 4 years with free electricity, one still may not make their money back? I'm personally not a miner, and I understand it's too late in the game for the general population to get involved... but that sounds ridiculous. With free electricity, OP still shouldn't expect to turn a profit?

Some are pretty anti-mining. Best way to calculate ROI is something like this - https://bitcoinwisdom.com/bitcoin/calculator

OP add up all costs including if you have VAT, etc. That will help you see how long a miner would take to pay off. Also when you say 4 years are you talking about some kinda student housing where you just have one room?

jeffthebaker

legendary

Activity: 1526

Merit: 1034

Quote from: Atomictie on October 04, 2015, 12:38:05 PM

Even if you have free electricity ROI is hard to reach if you spend money for miners

In 4 years with free electricity, one still may not make their money back? I'm personally not a miner, and I understand it's too late in the game for the general population to get involved... but that sounds ridiculous. With free electricity, OP still shouldn't expect to turn a profit?

Atomictie

member

Activity: 61

Merit: 10

Even if you have free electricity ROI is hard to reach if you spend money for miners

Hexram

newbie

Activity: 1

Merit: 0

Hey guys.

I am currently living in a place where I will get free power for the next 4 years. With the price of miners at the moment should I buy a miner and start mining? If so will it be profitable?

If so what type of miner should I buy?

Thanks

Topic: Is it worth mining? - page 3. (Read 3222 times)