Is mining still a good idea? - page 3.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Quote from: Amph on December 22, 2015, 03:45:35 AM

Quote from: occurcry on December 21, 2015, 06:14:00 PM

Quote from: HarryKPeters on December 21, 2015, 03:30:26 PM

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

Are you sure about those calculations?
Because if u are, then it will be profitable for me

so then I am very interested.

he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that

earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit

But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...

FruitsBasket

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Quote from: alh on December 22, 2015, 04:09:43 AM

Quote from: HarryKPeters on December 21, 2015, 03:30:26 PM

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

After 120 days, you still haven't paid off your S7, unless you got it for less than $600, or unless difficulty starts to fall off below 5% every two weeks. I have no idea what assumptions you made to get a payoff off of 120 days.

Maybe you expect the price of BTC to increase faster than difficulty, and you got the S7 for "half price" maybe you can make it work out.

I think that a 120 day payoff for an S7 require an incredible number of unlikely assumptions.

An antimer s7 cost like 3.5 bitcoins so there never will be an ROI within 120 days because you also need to pay the electricity.
If u can get free electricity, then u spent much money on mining, or mayby buy solar panels for the electricity.

alh

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Quote from: HarryKPeters on December 21, 2015, 03:30:26 PM

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

After 120 days, you still haven't paid off your S7, unless you got it for less than $600, or unless difficulty starts to fall off below 5% every two weeks. I have no idea what assumptions you made to get a payoff off of 120 days.

Maybe you expect the price of BTC to increase faster than difficulty, and you got the S7 for "half price" maybe you can make it work out.

I think that a 120 day payoff for an S7 require an incredible number of unlikely assumptions.

extrabyte

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Firstly it depends on how much budget do you have to spent, to start with you need the latest mining hardware which i would suggest the S7, another factor is having free electricity to get the most profit of this mining rig.

Amph

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Quote from: occurcry on December 21, 2015, 06:14:00 PM

Quote from: HarryKPeters on December 21, 2015, 03:30:26 PM

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

Are you sure about those calculations?
Because if u are, then it will be profitable for me

so then I am very interested.

he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that

earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit

notlist3d

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Quote from: MarHun on December 20, 2015, 03:26:53 PM

I was wondering about mining profitability and i think it's not worth it to get in. I mean you must get asic miners and the minimum to mine with is i think at least 10 TH/s. Even if you make enough money to pay electricity and still get some $ you have to get back the amount of the machines. I know there is cloud mining but that doesn't make that much and not stable. The blockchain is heavy and there are just too many people already mining who are your "concurrency".
So what do you think?

Honestly I think you have some more research to do. Cloud mining for example on hashnest is not all that different then regular mining if at 10 cents or close. We need to know if you have cheap electricity, then yes it changes.

And keep in mind the goal is BTC to go up. So when I made a profit at 230 and stored it all in BTC... all of that I stored is not 430+ in value. So by holding onto profits can make a HUGE difference, but you can also lose money this way.

TTMNewsMJ

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It depends in you.
If you have the money to start mining then go for it.

usenet

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Quote from: occurcry on December 21, 2015, 07:53:54 AM

Quote from: usenet on December 21, 2015, 07:21:57 AM

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

So because there will be an difficulty increase, u suggest to not start mining if u have no setup?
But what if the price goes to 1000$ per btc, will mining be profitable with the block halving and new difficulties?

You must decide. Calculate how much you will gain in having the BTC and how much you can gain from mining.

Use the calculator:
https://bitcoinwisdom.com/bitcoin/calculator

You can simulate the difficulty, block reward and many different data.

occurcry

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Quote from: HarryKPeters on December 21, 2015, 03:30:26 PM

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

Are you sure about those calculations?
Because if u are, then it will be profitable for me

so then I am very interested.

HarryKPeters

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Activity: 896

Merit: 1000

Live Stars - Adult Streaming Platform

Quote from: gkv9 on December 21, 2015, 10:00:33 AM

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.

But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty

It's very risky again. Therefore i wouldn't advice to buy mining gear right now.

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...

There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again... Wink

occurcry

newbie

Activity: 40

Merit: 0

Quote from: usenet on December 21, 2015, 07:21:57 AM

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

So because there will be an difficulty increase, u suggest to not start mining if u have no setup?
But what if the price goes to 1000$ per btc, will mining be profitable with the block halving and new difficulties?

usenet

full member

Activity: 133

Merit: 100

In my point of view, the BTC/USD is in upward trend. All the time growing difficulty. The difficulty of course is derived from the BTC/USD and the installation of new equipment. Old equipment is also working due to an increase BTC/USD. Accordingly, the difficulty will continue to grow.
This means that in my opinion at the moment the best is to buy BTC. Those who possess miners, when the difficulty was relatively stable already earned and have a different position than those who are just starting in this business. For the purchase of miners it is worth to wait for difficulty stabilization.

occurcry

newbie

Activity: 40

Merit: 0

Quote from: FruitsBasket on December 21, 2015, 06:56:17 AM

Quote from: occurcry on December 21, 2015, 06:52:20 AM

Quote from: Gaswuwade on December 21, 2015, 06:36:39 AM

Quote from: Atomicat on December 21, 2015, 06:34:45 AM

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

If u keep the miners at your basement and make an airway to your house to heat it up, that won't cause any trouble. So it is possible without any hick ups.

I get the point now, but that must be difficult to setup that all the air goes the way u want it to.

FruitsBasket

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Quote from: occurcry on December 21, 2015, 06:52:20 AM

Quote from: Gaswuwade on December 21, 2015, 06:36:39 AM

Quote from: Atomicat on December 21, 2015, 06:34:45 AM

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

If u keep the miners at your basement and make an airway to your house to heat it up, that won't cause any trouble. So it is possible without any hick ups.

occurcry

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Quote from: Gaswuwade on December 21, 2015, 06:36:39 AM

Quote from: Atomicat on December 21, 2015, 06:34:45 AM

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

That is a cool idea, mining bitcoins to earn btc and also warm up your house.
Is that even possible, would it not be too much loud? Or a weird smelling air?

Gaswuwade

member

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Merit: 10

Quote from: Atomicat on December 21, 2015, 06:34:45 AM

I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

Yes. The electricity price is too much for home mining. We can only mine during winter times. That is because we can get free heat out of it.

Atomicat

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I don't think this is a good time to start mining because if the difficulty continues to rise at this rate you will need very cheap electricity to make a profit.

occurcry

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Its depends on the cost of your electricity and how much you can spend on your mining project

Amph

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another two years and probably no casual miner can get in, because the mining to have a decent profit would be 50 tera or even more, which mean a big electricity is needed

and only few people have that at their disposal, until then i thinkyou can still try to get 1 s7, it's cheaper now, and try to roi, at worst you sell it before the halving

Topic: Is mining still a good idea? - page 3. (Read 4905 times)