Topic: Newbie All-Day - Ask All Your Bitcoin Questions Here! - page 7. (Read 7618 times)

Bump. (Dont count this as a post)

That's the major gamble, if you invest and difficulty shoots up (as it is doing so currently) no ROI will ever be achieved. However if miners begin switching off their equipment, there may be a possibility you will ROI and even profit.


Haha! No problem as long as you're not answering every single one. Various answers are encouraged so that the person enquiring can get a few different sources of information for the answers he receives.

I assume 5K USD so 10.4 BTC available now.

First let us see how much hashpower that is. Pbmining* each GH/s costs you 0.0027 BTC, so we get 3,851 GH/s. That sounds like a lot, lets see how long it would take for out 3.851 TH/s to mine 10.4 BTC or more [1]. Lets say the difficulty rises with 13.5% [2], no electricity costs or fees. *click*



yep, no ROI 2014, no ROI 2015, no ROI 2016 and as you see the revenue will decrease further so you have no real chance to ever to get a return of investment. The only way that this could work is if the difficulty would increase less drastically. Lets see for 9% we get:



ROI at the end of 2015 and 0.5 BTC profit at the end of 2016

For 7.5%:



ROI middle of 2015, 1.7 profit end of 2015, 2.6 profit end of 2016, 2.7 profit end of 2017

So the question is: how much are you willing to bet that the average increase in difficulty is currently very high and will be (significantly) lower in the future?

PBMining is not the only cloud mining service and bitcoinwisdom not the only proft calculator, but I think you get a rough picture and have place to start your own research if you want to go that route.

Should you decice to buy gh/s on pbmining please consider using my ref link.

* prices will be different for different cloud services.
[1] https://bitcoinwisdom.com/bitcoin/calculator
[2] average of the last 12 increases according to: https://bitcoinwisdom.com/bitcoin/difficulty


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Yep, its a great idea. I hope you dont mind if others answer the questions as well

It's all about taking calculated risk really. If you believe you will be able to re-sell you GH/s on cex.io for a profit then go for it. However, it can go both ways and you may end up losing money.


My pleasure, I saw that many threads were being created for simple questions that can all be asked in here; kind of a mega-thread for any bitcoin related question!

thx for doing this marcotheminer

Hit btc calculator in google, but if seriously, you can not make a thing in cloud mining, insteadjust buy BTC,it would return you more.

Either or, I think both along with monbux should be used

Really? He always responded quickly whenever I sent him a message. Oh well devthedev is a great guy as well.

Not much, you wont get a ROI as mining is pretty much unprofitable nowadays. Cex.io allows you to resell your GH/s, however then it becomes a gamble to earn a profit.


Do you mean the waiter takes the taxi after work (the TX from the customer has not yet confirmed)? Is that what you meant?

None of the cloud mining is profitable, so its a nono.

He may be most trusted by everyone's habits but not very active/approachable from what I've read. Devthedev is contactable 24/7 and gets back to you with a short period of time.

How much can I make with over 5K investment over cloud mining. Please anyone?

I'll throw in a fun one I saw here one before
Person X is at a restaurant and does two transactions one to a waiter to pay for his bill, one to give a tip seperate bitcoin address, and one to take a taxi and use Bitcoins to pay for a taxi (It's the future)
The mobile client they use does not allow for the spending of two transactions at one time until the first transacion confirms through the network that takes roughly 1 block or ten minutes on average as it complains about an unconfirmed Tx

What solutions can be done to prevent this issue.

I am pretty sure he means escrow.ms. He is the most repped escrow agent on this forum and nobody has surpassed him yet (and I highly doubt someone will, unless escrow.me goes rough and starts scamming people. ).

Most likely devthedev in my opinion here you go: https://bitcointalksearch.org/topic/devscrow-complimentary-and-trusted-escrow-service-since-2014-708658


Actually a very good question! Yes it can be given in physical form either as a paper wallet (where the private key is shown) or a casascius coin where the private key is hidden under a thin membrane which can be scratched off https://bitcointalksearch.org/topic/wts-casascius-01-silver-ms-65-anacs-graded-last-one-717228

I have a question about bitcoin and i hope no one will laugh at me.
Can bitcoin be given to some one like a normal physical currency?

can someone link me the top rep escrow services on this forum, I forgot to book mark it... 

You can choose as you like, but I am replying and contributing to any and every single question asked in here! (that post was a bump specifically)


You would likely make around or less than 0.00001 a day which is not worth it for the following reasons:
a) you damage your computer's graphic cards while mining especially on an old PC in this case
b) The cost of electricity to charge your PC will be much higher than 0.00001 a day

if you feel like contributing to the network: what I would suggest is becoming a bitcoin full node.

thanks for the insight, much appreciated.  i will probably be back to this board a few more times today with more questions 

Depends. Id say a post that is helpfull should be considered constructive no matter how long / short. On the other hand I wouldnt say a bump is constructive in any case.


It might seem worth it to you, but the electricity bill will convice you that it wasnt*. Your only chance with a GPU is a fresh alt coin. Which to choose though? I wouldnt know, might check the alt section out.

* If you are now thinking: Yeah, but I live with my parents or someone else that pays for electricity. Consider this: why would you use 50$ worth of electricity a month when you could buy the same amount of BTC for less? IIRC the 50$ wasnt calculated for GPU mining but for an older ASIC, so in your case the numbers will be even worse. And no, just because your computer is on anyway its not using as much electricity as it would while mining.


HYIPs are bullshit. No sustainble company/business can generate 4.5% revenue daily. Its just another form of ponzi and will blow sooner or later. There is this thread where someone is openly arguing that everyone wearing your signature is contributing to a scam and thus a scamer as well. Esp. if they have a ref link like you.