Start now or later? - page 2. | Bitcointalksearch.org

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: Z390 on November 01, 2023, 03:48:23 AM

My last question, is this the right time to buy Asic miner or when the bull market beginnings? Which way will you prefer and why?

I'd assume when the bull market happens the price of mining rigs would also increase, although it is probably not as big as how GPU prices inflated rapidly in the last few years. I've seen some news saying major producers are giving discount when the market is not that good, so I'd assume the opposite could also happen[1].

On the other hand, even if you buy now (and you have an ideal condition of everything), you still need time to mine to break even. I guess it depends on your risk profile most of the time. CMIIW.

[1] https://forkast.news/bitmain-cuts-mining-rig-prices/

FP91G

legendary

Activity: 1610

Merit: 1026

Quote from: Z390 on November 01, 2023, 03:48:23 AM

I started having an interest in mining some years back but that's for Ethereum mining and now that I am ready Ethereum is no longer a proof of work coin, so I have only bitcoin left, I want to know if it is still possible to start mining Bitcoin for someone like myself? I have some challenges blocking my way.

1. I heard that Asic miners like s19 are not capable anymore, not very profitable I meant, buying such right now won't bring better profit after the halving and even in a bull market.

2. I was told that to stay ahead of the game when others will be probably selling their s19 it's better to go for the best top asic miners, which Asic miner is the number 1 now?

3. For someone from a country with unstable grid power can we still mine Bitcoin and still be in profit?

My last question, is this the right time to buy Asic miner or when the bull market beginnings? Which way will you prefer and why?

If you have cheap electricity below 2 cents, then it is profitable for you to buy used S19 ASICs at a good discount and continue mining. What is unstable grid power?
If your power goes out every day or the voltage in the network is unstable, then you can burn out the ASICs.

Yamane_Keto

sr. member

Activity: 406

Merit: 443

Next to Bitcoin you can mining some POW crypto like Litecoin and Dogoin, but at the end, the rate of profits compared to cost will determine whether mining is successful.

Are you sure that you can buy mining devices, operate them and make a profit that covers operational costs before 1/2?
If the electricity is not stable in your country, and it can be cut for hours a day, then mining is not an option for you. What is the average electricity costs KW/h.

Have you calculated the costs of the lost opportunity, which means that if you purchase bitcoin now, will you achieve better profits than mining?

I advise you if the taxes are not high in your country (here mining may save you a lot of tax money), it is better for you to buy bitcoin

mikeywith

legendary

Activity: 2170

Merit: 6279

be constructive or S.T.F.U

None of the questions you asked will benefit you in any way, shape or form if you we don't know the following.

1- What is your electricity rate? how much do you pay per kWh?
2- By "unstable grid" do you mean power outages or voltage variations where voltage drops and spikes constantly?
3- What power capacity do you have? is this going to be placed in your home or where?

Z390

sr. member

Activity: 714

Merit: 296

Cashback 15%

I started having an interest in mining some years back but that's for Ethereum mining and now that I am ready Ethereum is no longer a proof of work coin, so I have only bitcoin left, I want to know if it is still possible to start mining Bitcoin for someone like myself? I have some challenges blocking my way.

1. I heard that Asic miners like s19 are not capable anymore, not very profitable I meant, buying such right now won't bring better profit after the halving and even in a bull market.

2. I was told that to stay ahead of the game when others will be probably selling their s19 it's better to go for the best top asic miners, which Asic miner is the number 1 now?

3. For someone from a country with unstable grid power can we still mine Bitcoin and still be in profit?

My last question, is this the right time to buy Asic miner or when the bull market beginnings? Which way will you prefer and why?

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