Topic: Is mining still a good idea? (Read 4911 times)

I think is not a good idea, because if you like the investment you are doing (as money and time) and how much you get...
I think is so risky not a good point to start to earn btc.
There are other method more easy... also develop a new application or a new site is more plausible.
Probably I am wrong, but from my experience I think is not a good solution for earn btc.

from the last few months i am with cloudmining.. it is paying regularly ....

Mining is a great idea- but here's the catch- for people like me who just like seeing those "share accepted" messages on bfgminer or cgminer. Unless you have electricity that is 1. nearly free (0.05$ kwh or less) or 2. mine in an "industrial" area (cheaper elec), no, not even the most efficient miner as of now will not be profitable. Occasionally a coin will be pumped and its price will go high enough for you to "profit," but generally this pump will not last long enough for you to mine and sell it for bitcoin on exchanges. Essentially, bitcoin mining is not a great idea for 85% of the world.

Yeah, that's the enthusiasm. Everyone should at least put a 15% increase scheme of the difficulty each month to be sure that what is shown on their screen is what they are sure to get, and the rest (because a 15% difficulty increase is too huge to be always true) will only be happy surprises !

The main problem is that the buyer do not set high enough difficulty rise figures, so it seems profitable for them.

I knew it when I bought my U2
But i have done this choice because I wanted try mining with a new first hand miner.
No need to be Einstein to understand that mining 500 satoshi or so per day is not profitable...
But I can say...I am a miner (lol)

By the way...
if someone is a micro miner like me...
I propose him to mine in my team and so he has less withdrawal fees or perhaps it allows him to get satoshi quicker than alone.

No, mining is absolutely unprofitable. The reason is, most people who buy mining equipment are unable to make basic arithmetical calculations, and buy miners at over-inflated prices, so all of them will lose money. The profitability calculators available on the net are mostly put up by miner manufacturers to mislead the public.

$10 is an example...
Yes it is split with other people...over 100 people so far.
The U2 is only a part of the system.
The system is the U2,but over all of course the site with its outcomes and incomes.
Each time you claim shares for free or buy them,you are a little more shareholder of the system.
My system does not exist otherwhere.
Nothing is promised in advance i can not hold.
Yes,if you invest to much,it is possible that you will never see back your investment,but you know it before you invest.
it is why I advice to claim first for free and to see how it works.
Then you can risk 0.001BTC or more or less.
if you invest less you have fix fees...1000 satoshi i believe...if my memory is good (lol)

people here are "horibilized" about my systems...
I do not understand why...they are so clear as possible to keep a "game part"
Yes it is uncommon...but why should i programme what already exist 1000 times and better?
I prefer programme new things where people can go in or not go in...for free or not for free.
People who buy shares take risk...ok
But the risk is perhaps profitable.
Some people have so far claimed for free shares worth 50000 satoshi.
They have spent time...like on other faucets...but the 50000 satoshi invested will just make more or less profit.
I believe my share system is funnier than classic faucets.
And it is fun for me to manage it.

I don't see you having a cloud of U2's  though.  I thought on one point of the forum you said you have 1 only, but I could be mistaken.   

How many people have you sold the 10 dollar pitch to?  Are you saying they split a U2 with other people?  That is such a tiny amount of hash for amount paid.

I have never said that my U2 is my U2cloudmining system
The U2 is only  my miner.

My U2cloudmining system is the system to make profit arounf the U2 miner.
it is like if you programme a site about goldmining in ALASKA and the system is about the "profit from the site about goldmining in ALASKA"

So far the system has made nice profit...but the miner not yet...even if in the future it will make few satoshi(it made over 30000 satoshi but it has not yet reached the minimum payout)(lol)
But it does not matter because the mining production is only a little little part of income.

if people ask me about an U2...
I tell them that they have $10 to invest,
It is better to invest in my U2cloudmining system that in an U2 and mine.

One U2 is not a cloud mining system I think most would argue.  But even if someone said it is a cloud system I don't see the profit.

How many are you saying are paying I did not understand your chart.  Also what did the ones who paid pay?

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

it is astonish...but it is true.
Do not think  that the satoshi i offer are taken from the air...
ok...bad people say I take them from the "paying investors"...
Each one can believe what he does want...

yes mining is funny...even if it is not profitable...but this unprofitable doing can make profit and so far it does.

And it is not only funny for me...I hope...


And it will be more and more funny...
I remember that you can co-mine with me...
this is interesting if you want save pool fees or if you do not reach the minimum payout alone.
Think about...

I compare my U2 mining with mushrooms search...
when I do to "mushroom hunting" it cost me time...petrol for my car and often I find only one or two mushroom...(with the risk they are poisoned)(lol)

Have fun...And think about before you mine...

Bumping quite a old thread.   Not sure it's worthy if it.

I do it for fun and profit.  I enjoy mining and like messing around with different miners.   But yes I like not to lose money so I keep economics in mind aswell.  So I think best is if you do for fun and profit.  If just of them  your missing out.

I do not do it for fun. I would like to earn some thing from the mining, in the mean time, I support the network.

I have mined and yes it was a great experience, having 10 S3 miners mining money for me .
The poolswithing, coin switching etc.

But let's be fair too, I did not do it for the money, since there is no money to be made in bitcoin mining.

Good idea or not good idea...I can a say:I have mined...and perhaps the satoshi you see...are from me (lol)

Until you haven't some miners & great electricity price, i think is not convenient to buy some hardware, but at least would be very fun.
When i could, i will buy 1 miner for sure and start trying to mine by myself

Do you really think people buying outdated miners with like 100 GH are doing it for the big bucks?

No man, they want to try it and in fact mining or having miners is actually fun to do.

Sorry hurting you...i mine for fun...
why should I not?
i have fun doing "things" for fun...it is so fun (lol)
But i'm used too...
i give away satoshi for the fun...it is so strange that people take me for a scammer (lol)

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...