Is mining alt coins profitable? | Bitcointalksearch.org

carlfebz2

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Quote from: Abiego on October 18, 2016, 05:02:20 AM

I'm looking to invest in hardware, what kind of hardware should I buy and from where?

I don't know if still is profitable buy hardware with GHS/KHS for mining alt coins

how good is mining alt coins nowadays? still profitable?

thanks!

If you would like to mine bitcoin then you would surely need asic miners but you are mentioning about altcoin then you would sure use GPU which these are commonly used on mining altcoins and you would surely need money to invest on this and you have cheap electricity to be profitable. Mining ETH would be a go for me.

Shiroslullaby

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FOMO usually means "Flavor of the Month"

I think there are some promising new coins coming out.
If you do some research and find a project you like,
there is the possibility that being an early miner will pay off.

I'm currently mining Burst in the hopes it becomes successful.
I've mined Monero for a while and have a few coins that I will hold with the hopes Monero is still used in a few years from now.

BTCBusinessConsult

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Stupid question but I gotta ask...

What is FOMO??? Huh

Also in terms of altcoins these days, Stratis is the only coin worth investing in right now. Stratis is following the same timeline that Ethereum did when it first started. BTC, Ethereum, Stratis are the only coins worth having.

MY OPINION, do your own research

kanazawa

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Bro, it's simple as Amph said, just use GPU rig to mining ETH. Many people are losing money because they insist to buy shitcoin and almost all of them don't follow news, don't participate in any forum, don't know nothing about economy, resuming, nothing nothing about nothing... So, this way you can't be happy.

Cryptozillah

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Well..

Is altcoin mining profitable ?
It depend on how you look at things.

Do you need to make profit every single day or do you look at things more longterm ?
I would say that if you need profits every single day to keep going find another hobby.

Was XMR profitable to mine before it went to moon ? Probably not, but the ones that mined and held became filthy rich.
I did the same thing with DRK in the early days. I mined and stacked up without selling for a long long time before selling at moon, but it was not that profitable during that long time i mined it. All electric used to run 40+ 280x cards was paid out of my fiat pocket and i did not sell one single coin because i really believed that it would go sky high sooner or later.

Now i am doing the same thing with ETH because i think it is the only project out there right now worth doing that with.
I bought in like 4-5 months ago and now mine and stack up while paying my electric bill with fiat from my own pocket.

Every person need to make up a gameplan before entering this game. I promise it aint a walk in the park anymore.
Find a project that you believe in, mine and just hold for better times.

Mining and earning every single day have passed a long time ago.

Raja_MBZ

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Well in my opinion, it's still a good choice to buy hardware and start mining if you have the electricity cost of less than ten cents per kWh. But if you've electricity price higher than this mentioned price, don't get into the mining at very all. It's honestly a very big headache, especially if you are a beginner. You'll put all your time and effort for almost nothing.

Amph

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Quote from: Abiego on October 18, 2016, 05:15:15 AM

Quote from: Amph on October 18, 2016, 05:10:39 AM

not really that good anymore, every single alt is decreasing in profitabilty, everything is dumped, another bad time is coming

however if you have cheap electricity there will be always profit to be made

I have cheap electricity, where can I buy a miner from? I checked ebay and its really expensive.

also you recommend SHA256 or scrypt?

eh sha and scrypt are not exactly the one you needs to look at, it's better to mine ethereum right now, which is at the top of profit

you need a gpu rig

adaseb

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Quote from: talks_cheep on October 18, 2016, 06:10:49 AM

Quote from: Abiego on October 18, 2016, 05:15:15 AM

Quote from: Amph on October 18, 2016, 05:10:39 AM

not really that good anymore, every single alt is decreasing in profitabilty, everything is dumped, another bad time is coming

however if you have cheap electricity there will be always profit to be made

I have cheap electricity, where can I buy a miner from? I checked ebay and its really expensive.

also you recommend SHA256 or scrypt?

Listen to Amph. He's already told you it's not profitable unless you have cheap electricity. Do you even know what cheap electricity is? Everyone's mining these days. I mean EVERYONE. Don't let FOMO take over your life. You will lose your shirt in mining if you're starting out right now. The days of mining at home are coming to an end, if not already here. The most prudent approach these days is to buy btc directly, forget the crapcoins altogether. Btc price will continue to rise until January 2017, crapcoins will continue to lose value at the same time. Save your money, your life, your sanity while you still have a chance, buy btc direct.

Geez, noobs.

Yikes again! Is the ETH difficulty making you go mad? We all knew this was going to come to an end one day, but don't go all crazy.

talks_cheep

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Quote from: Abiego on October 18, 2016, 05:15:15 AM

Quote from: Amph on October 18, 2016, 05:10:39 AM

not really that good anymore, every single alt is decreasing in profitabilty, everything is dumped, another bad time is coming

however if you have cheap electricity there will be always profit to be made

I have cheap electricity, where can I buy a miner from? I checked ebay and its really expensive.

also you recommend SHA256 or scrypt?

Listen to Amph. He's already told you it's not profitable unless you have cheap electricity. Do you even know what cheap electricity is? Everyone's mining these days. I mean EVERYONE. Don't let FOMO take over your life. You will lose your shirt in mining if you're starting out right now. The days of mining at home are coming to an end, if not already here. The most prudent approach these days is to buy btc directly, forget the crapcoins altogether. Btc price will continue to rise until January 2017, crapcoins will continue to lose value at the same time. Save your money, your life, your sanity while you still have a chance, buy btc direct.

Geez, noobs.

Abiego

newbie

Activity: 52

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Quote from: Amph on October 18, 2016, 05:10:39 AM

not really that good anymore, every single alt is decreasing in profitabilty, everything is dumped, another bad time is coming

however if you have cheap electricity there will be always profit to be made

I have cheap electricity, where can I buy a miner from? I checked ebay and its really expensive.

also you recommend SHA256 or scrypt?

Amph

legendary

Activity: 3248

Merit: 1070

not really that good anymore, every single alt is decreasing in profitabilty, everything is dumped, another bad time is coming

however if you have cheap electricity there will be always profit to be made

Abiego

newbie

Activity: 52

Merit: 0

I'm looking to invest in hardware, what kind of hardware should I buy and from where?

I don't know if still is profitable buy hardware with GHS/KHS for mining alt coins

how good is mining alt coins nowadays? still profitable?

thanks!

Topic: Is mining alt coins profitable? (Read 1093 times)