Like to know about BTC mining - page 2.

desired_username

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Quote from: Nathan101 on May 17, 2014, 05:47:57 AM

Quote from: d2dtk on May 16, 2014, 11:35:19 PM

Quote from: Nathan101 on May 16, 2014, 11:08:37 PM

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

It's almost not worth mining btc anymore unless you have terrahashing equipment. You should buy in to BTC hold some of it, wait for it to rise, and buy whatever you desire. Without transactions and sales bitcoin would just sit and possibly loose value, but you don't have to spend all that you buy.

Thanks for your help. What about other major Cryptocurrency? Are they still profitable?

Mining altcoins is pretty much a full time activity now with little to no rewards.

People usually check coinwarz for the most profitable coin, but by the time they mine and would like to sell their coins usually it's already crashed/died.

btw, (bitcoin) mining never was a surely profitable endeavour. When GPU rigs generated a lot of coins their value was only a fraction of todays rate, it never was a get rich quick scheme.

I would advise that you only invest the money you can afford to lose and If you want to support the network consider mining with a cheap USB miner or run a full node.

Nathan101

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Quote from: d2dtk on May 16, 2014, 11:35:19 PM

Quote from: Nathan101 on May 16, 2014, 11:08:37 PM

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

It's almost not worth mining btc anymore unless you have terrahashing equipment. You should buy in to BTC hold some of it, wait for it to rise, and buy whatever you desire. Without transactions and sales bitcoin would just sit and possibly loose value, but you don't have to spend all that you buy.

Thanks for your help. What about other major Cryptocurrency? Are they still profitable?

shorena

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Activity: 1498

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No I dont escrow anymore.

Quote from: ejinte on May 17, 2014, 04:21:32 AM

less that 1$/Ghz

That makes no sense. Even if you are talking about 1$/GHASH/s. 1$ for what? Electricity? Hardwarecosts? Shipping?

ejinte

hero member

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I'm predicting now that you will need a price of less that 1$/Ghz to be mining with profit this days. If you're new to bitcoins and not holding thousands of USD you want to invest, I would rather recommend you to buy and hold bitcoins instead. That will probably give you a better profit.

Bitbirdhunt

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Mining bitcoins Is not worth your time and effort, It's hard to make profit from mining now days. Better buy bitcoins for those money that you had for mining rig, that's my advice.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: Yakamoto on May 17, 2014, 01:11:40 AM

Quote from: d2dtk on May 16, 2014, 11:35:19 PM

Quote from: Nathan101 on May 16, 2014, 11:08:37 PM

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

It's almost not worth mining btc anymore unless you have terrahashing equipment. You should buy in to BTC hold some of it, wait for it to rise, and buy whatever you desire. Without transactions and sales bitcoin would just sit and possibly loose value, but you don't have to spend all that you buy.

Does a 12-Terrahash prototype count?

Lets say developing that thing cost you only 10,000 USD, you pay 0.1 USD per kW/H and your 12 TH/s prototype eats 6KW
Youd break even after ~51 days assuming 20% rise in difficulty.

Regarding OP. If you want to know whether mining is profiltable or not, do the calculation with one of the many calculators (e.g. https://bitcoinwisdom.com/bitcoin/calculator )
It greatly depends on your electricity cost. Some people claim they get free electricity (which I doubt is true), so any hardware can be profitable if you buy it cheap enough.

Yakamoto

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Quote from: d2dtk on May 16, 2014, 11:35:19 PM

Quote from: Nathan101 on May 16, 2014, 11:08:37 PM

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

It's almost not worth mining btc anymore unless you have terrahashing equipment. You should buy in to BTC hold some of it, wait for it to rise, and buy whatever you desire. Without transactions and sales bitcoin would just sit and possibly loose value, but you don't have to spend all that you buy.

Does a 12-Terrahash prototype count?

dumbdragon

sr. member

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A lottery pretty much sums it up.

1 block you actually solve and get = 25 bitcoins. But those odds are highly unlikely so, most will see however much effort in speed will return appropriate rate.

This also excludes on work being rejected, since someone already turned it in to solve.

vipgelsi

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Think of it as a type of lottery play to mine it

d2dtk

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Quote from: Nathan101 on May 16, 2014, 11:08:37 PM

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

It's almost not worth mining btc anymore unless you have terrahashing equipment. You should buy in to BTC hold some of it, wait for it to rise, and buy whatever you desire. Without transactions and sales bitcoin would just sit and possibly loose value, but you don't have to spend all that you buy.

Nathan101

full member

Activity: 130

Merit: 100

I am new to BTC. I have heard that BTC mining is not profitable. I like to know more about BTC mining from experienced member.

Topic: Like to know about BTC mining - page 2. (Read 1352 times)