Topic: Join bitcoin mining now (Read 1662 times)

Well   profitable  needs careful definition .

today:

an s9 will earn $8.73  a day with 0 power cost
an s9 will earn $8.41 a day   with 1 cent per kwatt power cost
an s9 will earn $8.09 a day  with 2 cent power
an s9 will earn $7.78 a day with 3 cent power
an s9 will earn $7.46 a day with 4 cent power
an s9 will earn $7.15 a day with 5 cent power
an s9 will earn $6.83 a day with 6 cent power
an s9 will earn $6.52 a day with 7 cent power
an s9 will earn $6.20 a day with 8 cent power
an s9 will earn $5.88 a day with 9 cent power
an s9 will earn $5.57 a day with 10 cent power.

now i left out cost of equipment this is profit over power cost.

many factors are involved   but   those numbers only show some factors.

You misread my reply.  The S9 cost $3.30 a day to run.  It expected to make (after power costs) $5.33 a day.

Those values were based upon a very specific set of conditions.  If you change them a bit, you can see the effect.  For example, let's say you live in a place where your electricity only costs you $0.02 per kWh.  Let's also assume BTC is $725.

The batch 20 S9 now (at current difficulty today) expects to make you 0.01284BTC a day.  That's about $9.31.  Subtract your power costs ($0.61 a day) and you net $8.70.

See how much of a difference that is?  That's why the big farms are located in areas where power is cheap.  Heck of a difference paying $0.61 per miner per day vs paying $3.06 (calculated with batch 20 S9 power draw of 1274W at the wall).  If I'm investing in 1000 miners, placing my farm in an area with $0.02 kWh power costs saves me $2450 a day over placing them in an area with $0.10 kWh power costs.

$3.30 a day can hardly be regarded as being profitable, it's not enough to feed you for one day. An altcoin will do better than that.

Not true.  The number of miners you have is not relevant.  What is relevant is how much it costs you to run those miners.

Right now, the S9 is profitable.  At an electricity cost of $0.10 per kWh, the S9 costs you $3.30 a day to run.  It expects to make 0.01289BTC a day, which translates into $8.63, netting you $5.33.  Obviously those numbers will change based on network difficulty and of course BTC -> USD conversion.  Doesn't matter if you've got 1 or 1000.

An S7 (4.73TH for 1293W), on the other hand barely breaks even with an electricity cost of $0.10.  That miner would expect to earn 0.00469BTC a day (roughly $3.14 currently) and cost you $3.11 to run netting you a whopping $0.03 a day.

If having a single miner isn't profitable, having 1000 of them won't be either.

So, my miner arrived earlier today and here are my first impressions and experiences with it: https://steemit.com/mining/@oleg326756/my-new-miner-has-arrived-first-impressions

Hi,

I'm a beginner miner too, and here's my experiences with mining at home so far: https://steemit.com/mining/@oleg326756/mining-cryptocurrencies

I'll be happy to write more updates and follow-ups, as my mining efforts progress.

Yes, there can be, if you do have cheap enough electricity and aquedate cooling. A large operation doesn't do you any good if your electrical costs aren't low enough to actually earn anything; you can make profits with a single S9, as long as your electrical costs are good and you have good cooling as I mentioned before. Internet isn't a huge issue, as miners don't use much of it and you can practically run them off of DSL.

Only big scale mining is profitable as you might find out soon enough, there can't be any positive income with less than 10 antminer s9.

Bitcoin is for big farms today, consider mining Monero or Ethereum istead.

I wouldn't go this far as to saying mining is not profitable anymore... For example, this fictive example:
I'm a fictive guy that lives near a hydroelectric power dam. Because there's more than enough power, i have a special deal, so i only pay 2 cents/Kwu. It's pretty cold outside and i have a dry place with shelves where's it's naturally cool.
I also have a couple leftover PSU's laying around from my previous job.
Last but not least, my friend used to own an antminer S7, but he's fed up with mining, and gives it to me for $200 (local pickup).

If i put all these variables in a mining calculator, at current diff, block reward, BTC price, i get this number:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4730.00&p=1210.00&pc=0.02&pf=0.50&d=258522748404.51500000&r=12.50000000&er=634.44000000&hc=200.00

That's less than 3 months to break even...

Would you still say for this fictive person, mining is not profitable? I realise this is an allmost ideal situation, but i'm pretty sure some people still want to take the risk with less favorable conditions and longer ROI's... It's all about calculating your odds beforehand, and seeing if you want to take the risk or not (offcourse, for a lot of people, myself included, it's flat out impossible to ROI with older ASICs, because we pay way to much for our electricity and import duties to ever make a profit in the current economic climate)

You are correct about those cloud mining sites tough... They are either ponzi's, clear out scams or sell their risk to you for a small cut of their profits... I'd never invest in cloudmining again, not even if it's 100% certain to be a legit operation.

i will suggest you to not to go for mining because hardware mining is not  profitable .
and also cloudmining is also not profitable now , because long Time running mining sites are paying very less amount of Profit amd other sites paying high payouts are ponzi schemes only .
so from both  side it is not Profitable .

 PPS/Ths earnings  today is       0,00097267  BTC  per 24 hour.

You want 0,0024 BTC per 24 hour


You Need  1/5 from Antminer S9 (13 Th/s)


EDIT. 22.10.2016

Today 0.00099148 BTC per day for 2 weeks

dsattler makes an excellent point, but next to the basic calculations, you also have to take into account the fact that the diff might rise faster than expected, the blocks will halve in less than 4 years, there's no guarantee the price will stay this high, you need a room with adequate cooling, shelves, wiring, custom charges might apply when buying HW, PSU's, taxation, and you need a basic techical knowledge to pull this one off... Having a good electricity rate just isn't enough.

To answer your questions:
1) depends on the cost of the miner, psu, custom charges, extra costs and power costs... For some people, an S7 (or even lower/older material) might do the trick, other's can't make a profit, no matter which miner they use

2) yes

You must have very low power costs to make mining profitable!
Before you invest in any hardware, please calculate your possible mining income:
https://alloscomp.com/bitcoin/calculator

Hey there , I'm a newbie here and to bitcoin. I am thinking to join in on the mining of bitcoins.. but I have a few questions. 

1. In order to make an hourly payout of 0.0001 btc,  what is the least hardware I need to compute that .. I intend to join in a pool cause I have read that it's not profitable to mine by your self . I understand why also.. but it is profitable for me to mine at least 0.0001 btc an hour .. so I would like to know what hardware is at least required for this mining .

2. Of whatever hardware that can produce at least 0.0001 btc an hour (payout), can I get 2 or more of that hardware and input the same account info for the pool I have joined and earn more at the daily payout ?
Thanks for taking time to answer my questions.