Unless you have a ton of money to blow on high end cards, then you'll receive a respectable payout in a short-medium time frame. It's hard, but it's sometimes worth the weight. With the difficulty rising daily, you may not get what you calculated.
Good luck, happy mining!
Topic: Mining - is it really worth the effort? - page 2. (Read 2044 times)
Given the time and electricity cost, only those very high end card can generate a profit
http://bitcoinx.com/profit/index.php
http://bitcoinx.com/profit/index.php
It really depends on the definition of "high end" card. The newest fastest card may not be the most profitable for mining. Not only do you have to consider breakeven time (the longer it gets, the higher the difficulty), you also have to consider the running cost in terms of BTC/watt.
For those who already have a decent btc/watt card, it would likely make sense to mine since you already have the card. More so if the power in your area is cheaper.
Like in my case, since I keep my system running all the time even before mining, so my only consideration is btc/watt which fortunately is higher than my cost/watt even if the value of btc falls significantly. So for somebody like me who already bought the card for the purpose of gaming, any potential income makes it worthwhile... especially since there's not much effort involved in starting a miner and leaving it to run
Pending review of how much btc I made over a week, I might even be able to pay off enough of a second card to enhance my gaming experience.
Given the time and electricity cost, only those very high end card can generate a profit
It all depends on timeframe and investment.
As long as the kWH/BTC is less than the tradable price of BTC then it is profitable depending on how patient you are.
I started mining about 5 weeks ago, I bought a new midrange card for it. I have now just about broken even on that card with regard to the BTC I've generated. No, I can't quit my job, but it does effectively reduce the cost of the new card (that I can then use for games) to zero, assuming I cash in my BTC for "real money". Technically I have "profited".
"Profit" is relative. With regard to BTC a huge pitfall people hit is that PROFITABLE has to mean I CAN LIVE OFF THE MONEY GENERATED. That's simply not going to realistic and, frankly, trying to achieve that is reckless. True, some people do that, but some people also win the lottery, and spending your paycheck on lottery tickets is never considered a stable form of income.
If you are mining BTC for a quick large payout, look elsewhere, this is not for you.
Do you include the electricity cost that involved?
Given the time and electricity cost, only those very high end card can generate a profit
It all depends on timeframe and investment.
As long as the kWH/BTC is less than the tradable price of BTC then it is profitable depending on how patient you are.
I started mining about 5 weeks ago, I bought a new midrange card for it. I have now just about broken even on that card with regard to the BTC I've generated. No, I can't quit my job, but it does effectively reduce the cost of the new card (that I can then use for games) to zero, assuming I cash in my BTC for "real money". Technically I have "profited".
"Profit" is relative. With regard to BTC a huge pitfall people hit is that PROFITABLE has to mean I CAN LIVE OFF THE MONEY GENERATED. That's simply not going to realistic and, frankly, trying to achieve that is reckless. True, some people do that, but some people also win the lottery, and spending your paycheck on lottery tickets is never considered a stable form of income.
If you are mining BTC for a quick large payout, look elsewhere, this is not for you.
It's not worth if you don't have a decent video card, or several, plus
you have to know when to sell your bitcoins, or trade.
Be ware of the market and you can make a very decent profit.
you have to know when to sell your bitcoins, or trade.
Be ware of the market and you can make a very decent profit.
...an also:
- difficulty keeps increasing
- new hardware will come out soon
- bitcoin price could drop substantially
...but:
- some people already have the cards
- electricity can be really cheap depending on your location
- bitcoin price could rise substantially
- difficulty keeps increasing
- new hardware will come out soon
- bitcoin price could drop substantially
...but:
- some people already have the cards
- electricity can be really cheap depending on your location
- bitcoin price could rise substantially
Given the time and electricity cost, only those very high end card can generate a profit
http://bitcoinx.com/profit/index.php
http://bitcoinx.com/profit/index.php
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