Topic: Mining is still profitable? (Read 3782 times)
I agree with sidehack. Mining new alts is a game of getting out early, and is not always profitable. Those who looses exceeds those who gained.
Not necessarily. Bitcoin's value is also based on utility; I can trade bitcoins directly for products and services all over the world without an intermediary currency. Shitcoins can really only be traded based on a perceived value with no foundation in utility, and it doesn't take much market upset to collapse a useless coin. For reference, see the plethora of failed pump-and-dump altcoins; compare the number of people that made a killing on them (typically a subset of which is the coin creator) to the number of people that lost money on them before the coin disappeared entirely.
The temporary profitability of altcoins is based on the less-than-temporary unprofitability of them. A large group of people briefly ascribe value to them, then the few who hold the most sell their stashes, collapse the value and walk away. Mining an altcoin because it's briefly profitable is basically paying the electric company to let you rob some of their fellow customers. Regardless if those customers are idiots, it's still approximately theft.
You could argue that trading bitcoins is the same since if someone wins money means that someone lost money
The temporary profitability of altcoins is based on the less-than-temporary unprofitability of them. A large group of people briefly ascribe value to them, then the few who hold the most sell their stashes, collapse the value and walk away. Mining an altcoin because it's briefly profitable is basically paying the electric company to let you rob some of their fellow customers. Regardless if those customers are idiots, it's still approximately theft.
you can try calculating using online mining calculator
put your hashrate, electricity cost and investment
put your hashrate, electricity cost and investment
The profitability seems really low by myself or no profitability at all, but i was wondering about mining new coins even if it is only for a day they probably are profitable at least some of them
you can try calculating using online mining calculator
put your hashrate, electricity cost and investment
put your hashrate, electricity cost and investment
What's your power cost? If you want to mine, hosting could be an option.
i was planning to buy myself an antminer but decided not to do it.
power costs are way too high here. i only buy bitcoin. for me it is the best option.
power costs are way too high here. i only buy bitcoin. for me it is the best option.
Yes it is still profitable depending on equipment and power costs. You may have to buy in bulk on both hardware and electricity to get an ROI around 180 days or less, but this is very doable to still make money.
If so what websites would you recommend
No it isn't. Majority of cloud mining sites are ponzi's. Those that aren't ponzi's are shutting down due to non profitability. Better to just throw your money straight into purchasing BTC if your really wanting to gamble.
If you are interested in cloudmining, I would advise your to read this thread before paying anything anywhere : https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387
look at my signature. westhash and nicehash can be used one for the western hemisphere one for the eastern hemisphere.
any time you can rent cheaper then current pay rate it is a good deal.
this site will pay you 0.0108 a th
any time you can rent cheaper then current pay rate it is a good deal.
this site will pay you 0.0108 a th
Nice, didn't know about this.
you can make a profit if price is the blue light ones
Just so I know I understand this right:
Nobody (buyers) in white is making a profit (current miners and queue)... you could make a profit if your order would be picked up at the blue price (while waiting in queue for that same price).
These ppl (white) paid, some even still wait, to lose btc/money? huh?
no you don't know what they are mining and you do not understand how to use the information I gave to you correctly.
If so what websites would you recommend
It seems you mean cloudmining and not mining yourself.
As for cloudmining it depends. Not all are. On some you get ROI is around 4-5 months and price could be much different then, so that would be a major deciding factor uf you want to block your money. Terabox however allows you to sell your contract in between which is good.
If so what websites would you recommend
It seems you mean cloudmining and not mining yourself.
As for cloudmining it depends. Not all are. On some you get ROI is around 4-5 months and price could be much different then, so that would be a major deciding factor uf you want to block your money. Terabox however allows you to sell your contract in between which is good.
Those who buys powerful expensive miners and have free electricity can make small profit. Some mine new alts and wait for pumps, but it is not profitable anymore for most of us.
So is not really worth it to invest in mining unless you mine new coins that can rise up
Those who buys powerful expensive miners and have free electricity can make small profit. Some mine new alts and wait for pumps, but it is not profitable anymore for most of us.
you can make a profit if price is the blue light ones
Just so I know I understand this right:
Nobody (buyers) in white is making a profit (current miners and queue)... you could make a profit if your order would be picked up at the blue price (while waiting in queue for that same price).
These ppl (white) paid, some even still wait, to lose btc/money? huh?
look at my signature. westhash and nicehash can be used one for the western hemisphere one for the eastern hemisphere.
any time you can rent cheaper then current pay rate it is a good deal.
this site will pay you 0.0108 a th
so if you rent from here to mine above
you can make a profit if price is the blue light ones
any time you can rent cheaper then current pay rate it is a good deal.
this site will pay you 0.0108 a th
so if you rent from here to mine above
you can make a profit if price is the blue light ones
I would actually want to know about buying hash power so someone else mines for you
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