Using Rigs for Mining?! | Bitcointalksearch.org

notlist3d

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Quote from: erickkyut on June 08, 2016, 08:26:52 AM

I'm planning to use or rent Rig to do the mining. Is it advisable nowadays even though the halving is near?

Will it still be profitable if I rent now? I wanted to mine and earn more bitcoin before the halving. Any suggestions?! TIA!

Renting you almost always pay a premium, as the owner of the rig is trying to make extra profit. So take whatever cost it would be to mine BTC for example they charge more then this for renting.

Some have gained money from solo mining huge amounts, or certain types of payment on pools that allow for luck. But it is far from a guarantee of profit. So for the most part I would suggest not renting.

philipma1957

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Quote from: erickkyut on June 08, 2016, 08:26:52 AM

I'm planning to use or rent Rig to do the mining. Is it advisable nowadays even though the halving is near?

Will it still be profitable if I rent now? I wanted to mine and earn more bitcoin before the halving. Any suggestions?! TIA!

What are you looking to spend?

where are you located. state if usa. if in another country just tell us the country.

if you want to mine at home what is your power cost is kwatts. under 8 cents is okay for btc under 11 cents is okay for eth coin.

only two coins are good to mine right now. eth coin and btc coin.

X-ray

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Quote from: erickkyut on June 08, 2016, 08:26:52 AM

I'm planning to use or rent Rig to do the mining. Is it advisable nowadays even though the halving is near?

Will it still be profitable if I rent now? I wanted to mine and earn more bitcoin before the halving. Any suggestions?! TIA!

Is better to you. If you can buy rigs for mining because it's better than you rent rig to do the mining. We don't know you can get if you rent the rig for mining. Actually for lower risk better to you buy a rig.

Amph

legendary

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you don't mine bitcoin with a rig, you mine altcoin and dump for bitcoin, and the halving has nothign to do with this

actually mining altcoin and converting in bitcoin, will be even more profitable after the halving due to price increase

Velkro

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Quote from: franky1 on June 08, 2016, 08:33:43 AM

2 things

1. unless you are buying the ASIC at a discount/wholesale price direct from china, then you are already paying too much upfront
2. renting is not cheaper than buying. because included in the rent is an estimate of the hosting companies costs and profits ontop. so its like paying twice

Thats true, you won't profit from mining by those methods. You shouldn't mine in first place, its place for professionals now only not amateurs. Your best earning tactic is to buy and hold for a year or two.

BTCBinary

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If you are willing to take the risk of losing a part of your investment you can do it. Even so, if you rent or buy some rigs you should do it before the halving. You would probably be better off by buying some ghs at hashnest.

ebliever

legendary

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Just buy bitcoins on an exchange, unless you have reasons for mining that have absolutely nothing to do with profitability.

Trying to get started in bitcoin mining today on a small scale is like buying a pick and shovel, picking a random patch of ground, and declaring that you are going into gold mining, against the industrial mining concerns.

franky1

legendary

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2 things

1. unless you are buying the ASIC at a discount/wholesale price direct from china, then you are already paying too much upfront
2. renting is not cheaper than buying. because included in the rent is an estimate of the hosting companies costs and profits ontop. so its like paying twice

now then
do not think of it as paying X and getting X in return within 6 months. instead think of it as pay X get ? and hope ? is valued at X+ in a few years

erickkyut

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I'm planning to use or rent Rig to do the mining. Is it advisable nowadays even though the halving is near?

Will it still be profitable if I rent now? I wanted to mine and earn more bitcoin before the halving. Any suggestions?! TIA!

Topic: Using Rigs for Mining?! (Read 710 times)