Topic: Mining on today's prices (Read 260 times)

For me yes but mining takes time and its a nice idea havibg sidelines aside from bitcoin like i said mining. I don't think invisting in mining is a good idea because your waiting for your money for a long time.

As soon as mining became big business to pretty much locked out the small guy looking to get started. You need to invest huge amounts buying all the equipment then pay for the electrivity and cooling required to keep the operation running. Have you seen those images of a 40 foot container packed with graphics cards and hooked up to a solar panel farm?

At the time of the Bitcoin price, I would not rush to sell it but keep the money I dug up, or perhaps I would continue to balance my finances to buy more, dig up the coins. I am sure that it will increase prices in the near future.
I really tin to determine it!

With CPU/GPU there is no chance to get into the competition with big companies using ASICs. Actually, I'm not mining with CPU as I think ist's worthless.
But, can still make some decent profit by mining altcoins. I choose them to the best of my knowledge. Also, you can make some profit from trading.

To me as well bitcoin mining is not a good and wise choice because in mining it takes a lot of problem as at the start you still have to buy the mining equipment's and then you will be able to mine, after than it will consume thousands of watt electricity and you will have to afforded the bill,. So buy bitcoin simply and hold it, you will not have to change anything for it, if you will buy bitcoin and hold it for the long time with patience it will give you more money than mining, but during bitcoin holding never think to sell it at panic price.

there is a simple formula
using the bitcoin price data (you can get the CSV data to put in an excel spreadsheet)
https://blockchain.info/charts/market-price?timespan=1year

and the mining hashrate data (you can get the CSV data to put in an excel spreadsheet)
https://blockchain.info/charts/hash-rate?timespan=1year


you then use this formula to get the cost per bitcoin of mining using this formula
=((hashrate/14)*8.22)/1800
i will explain
hashrate number from the hashrate column measurd in Thash
14 dividing the hashrate by 14 gives you how many S9 rigs equate to that hashpower (each rig is 14Thash)
8.22 cost of a S9 rig per day ($3000/365) NOTE:- this is just rig cost of $3000 at $0.00c electric
1800 btc mined per day

for instance,
put the date in the A column
put the btc price in the B column
put the hashrate in the D column
then put the formulae in the C column
[C:2]=((D2/14)*8.22)/1800
      [A]                {B}           [C]              [D]
[1]date             btc price    minecost    hashrate
[2]14 Mar 2018    $8,152    $7,683       23555075.18


you can then make a chart using the data over a period of time



note:- mining cost not include electric
if your electric is $0.05c per kwh 8.22 becomes 9.78 for rig and electric
if your electric is $0.10c per kwh 8.22 becomes 11.34 for rig and electric
if your electric is $0.15c per kwh 8.22 becomes 12.90 for rig and electric
if your electric is $0.20c per kwh 8.22 becomes 14.46 for rig and electric
based on a 1.3kwh S9

NOTE:- does not include electric of lighting/ventilation but does have the rigs electricity of 5 cents and 20 cents


which as of the 16th of march
BTC price: $8,530
mining rig only cost: $8,324
mining rig at 5cent electric: $9,903
mining rig at 20cent electric: $14,642

its worth having the formulae so you can update it and see when the bitcoin price spikes way above mining cost to be profitable (speculative bubble area(bull market/pump). or when a crash goes too far below cost of mining that it makes it a undervalued dump

many people use mining costs and then add in other formulae like the low of a monthly range to get a trend line of trade resistance to do analysis

Profitability from miner to miner is difficult to compare. Some miners have not paid for their hardware and others did. Some miners have access to cheap elecrticity and others does not have the same opportunities.

The miners without these benefits will drop out first and the total hash rate will decline. The difficulty will go down and some of them will be able to get back in. Bitcoin mining have some checks and balances that adjust according to the inputs received.

I always think that home mining is not very profitable especially when market is down. So I prefer to invest in criptocurrency

For now, it's not advisable to enter mining because of the low price of bitcoin. But if you can find a way to consume less energy and you have very good equipments. Then I suggest start mining coins.

today's price is not good indeed. Bitcoin price has decreased lately. If you mining bitcoin, i think you won't get any profit if you sell it now.
just mine, and keep hold it. Sell when the price on the market green, then you will get some decent profit.

For me its yes, mining bitcoin and keeping them in a long term investment will surely give so much profit, you just need to be patient. If the same scenario in 2017 will happen this year, the value of bitcoin will rise on the last quarter, it only means investing today can really make you rich in a couple of months from now.

so many big companies invested into mining farms which unfortunately made the competition very hard for standard people and if you wish to invest you would invest with more money

now when we have mining we still get a good price, but that's a very small amount because the price of coins has decreased. different when prices rise. but despite the decline will be very useful and good for our profit every month.

Currently mining is struggling due to market downturn and bitcoin sharply lower so the cost to exploit is higher than the current bitcoin value. New lines of machines are not effective when the market is down today. But I think things will stabilize again next month and the miners will still have many opportunities to grow.

Let me correct myself, it's not as profitable as it used to be. Of course there is profit to be made, but for some smaller miners like many of us here, it might be unprofitable depending on our electricity costs. Even currently, it's still profitable for myself to continue mining, I do hope things change for the better though.

I am talking about Altcoin mining, I have no clue about Bitcoin mining.

There's almost no profit mining with smaller rigs today as block rewards continue to decrease while the difficulty continues to great. Given the heat that is generated by rigs even after decent cooling is provided, to the lack of ideally paying rewards, mining has lost out on its importance and fame. Recently, its all been the so called cloud mining businesses running shady schemes all over the market which is questionable as to whether they land in profit or loss.

It shouldn't be a problem as long as you decide to hold the coins you have mined. I used to mine altcoins a few months ago, right after a lot of people started mining so it quickly became unprofitable. However, due to Bitcoin price surging, my mining equipment paid off faster than I expected when I bought it. In the end, I decided to sell my equipment and buy some bitcoins instead since it became more profitable.

If it is not profitable, So why there are many miners? Now the network is working very well.
If mining is not profitable, Miners will leave bitcoin and there will be many unconfirmed transactions.
Any one knows the answer?

Based on the feedback of those people in Twitter who have been mining for ages, it is still profitable if you know what you're doing and you know what to mine on that exact day. They try to mine those new coins with minimal to none network hash and then when the coin that they mined hit the exchange, they'll just sell it for profit. One good thing to consider is that if mining isn't profitable anymore, why are there people still doing it? It just means that they are earning money by doing it. There are a lot of things to consider so that you'll be in profit in the end, but everything goes down to the knowledge regarding what you're doing. They've been mining for so long that they know the ins and outs of it and they tend to adjust in any kind of market we have to stay profit.

Unfortunately, it's true. Mining is not that efficient anymore, low prices, higher difficulty = less earnings (I am talking for Altcoin mining). I've been getting 1/3rd of what I used to on a regular basis and it wasn't that long before. During Christmas, there was a significant spike in miner earnings, I was astonished.

I am actually planning to shut down my rig any time soon, it's currently becoming not worth my time.