Is the result of mined bitcoin at current prices that can cover the cost of minning itself, because I have a plan to mine bitcoin with my friend
It depends on so many things, electricity price, your miners, etc. You should find them out and start a calculation to make sure you can make profits with Bitcoin mining at this moment. 
Topic: Mined bitcoin at current prices? (Read 1509 times)
You need an alt coin that has a low difficulty, loads the wallet up on coins quick and smoothly, and then, at just the right moment for you comes from the pile of misfit coins, hits the exchanges and becomes popular enough to have a decent sale value.
I think you need to find examples of simple calculations of all expenses associated with mining process
Is the result of mined bitcoin at current prices that can cover the cost of minning itself, because I have a plan to mine bitcoin with my friend
You really want to be the people that are working in the secret underground and not so much on this highly public level, because by the time that you have seen a coin mentioned here as a viable mining effort, the difficulty has already risen considerably. It is a matter of doing the near impossible and we are out there doing it everyday.
Are you planning on mining just Bitcoin itself? If that is the case, then you better have a very strong plan and be working at of three server rooms in the basement of the power company. If you are just using that phrase to mean mining alt coins, then the plan will be very busy, involving constant coins changes, constant exchange use and the server rooms at the power plant wouldn't hurt either.
I guess it will depend on which hardware you are using, but if you try set up ASIC, you might enjoy the benefits.
With current price of bitcoin or yesterday's price if bitcoin you will always have good profit if you store your mined bitcoins for longer period of times. The first thing, you will get roi as the time will pass because bitcoin price is increasing continuously without any doubt. Keeping in mind other stuff such as electricity cost, maintenance of your ASIC units and other factors you can keep them as constant expenses over the time as they are not changing for long time. But on the other hand your bitcoin price is growing day by day; so you stand a great chance to earn royal profits from your mines today or tomorrow regardless of those factors. Just think over it what is changing and what is not and make your decision of investing with your friend.
Is the result of mined bitcoin at current prices that can cover the cost of minning itself, because I have a plan to mine bitcoin with my friend
Please give the following details to ascertain whether your mining operation will be profitable or not:
1. The cost of electricity in your country ($ per KWh)
2. The model and build of your mining rig
3. How many hours are you planning to run the rig every day (if it is not full-time)
4. How many of the coins are you planning to sell immediately, and how many are you planning to save for the future.
5. Which exchange are you going to use for selling the coins?
6. Are you planning solo mining, or are you planning to enroll in to any mining pool?
Is your electricity at or below 6 cents per kwh??
Can you set up & maintain ASIC miners??
If you had to buy a PC built for you,then you may get in over your head
Can you set up & maintain ASIC miners??
If you had to buy a PC built for you,then you may get in over your head
you can easily see that at current earning, you can do well with a worse electricity than the usual "5 cent", the margin on roi is very high, with 0.1 cent you are still doing pretty good now
also take into account that the value will increase much more in the future, you are also mining for speculation, basically like you do in trading
It could be an interesting plan in my opinion. But careful out for bitcoin prices is unstable now it seems, could easily go down and up in short time. And same with me, I am now mining neatly with my friend too.
Is your electricity at or below 6 cents per kwh??
Can you set up & maintain ASIC miners??
If you had to buy a PC built for you,then you may get in over your head
Can you set up & maintain ASIC miners??
If you had to buy a PC built for you,then you may get in over your head
Uh, it depends...
Is the result of mined bitcoin at current prices that can cover the cost of minning itself, because I have a plan to mine bitcoin with my friend
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