Worth investing now? - page 2. | Bitcointalksearch.org

Xialla

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/dev/null

Quote from: Don007 on June 17, 2015, 07:32:02 AM

I think most altcoins are way more volatile.

for sure, they are, just because market cap is usually quite low, so "few guys" with some BTC may completely manipulate exchanges:)

OP: because you are not business and you don't have experience, is better for you just buy directly instead of mine..

Don007

legendary

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Live like there is no tomorrow!

Great calculations Biodom!

However, I'm not sure whether much people are able to pay $0.1 per kwh. I think dollar, I have to pay about $0.3..

- -

You might also want to look at investing in altcoins. In the last weeks, many altcoins have doubled or tripled in value. I saw my current value of Digitalcoin has doubled since yesterday. (If you were lucky enough to buy some yesterday, you would have 100% profit // 200% ROI in one day. Sure, I know you have to be really lucky to do that. But beware, investing in altcoins is even more dangerous than investing in BTC directly. I think most altcoins are way more volatile.

Biodom

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Mining could be done as if you are buying bitcoin slowly (after the initial machine purchase).
Essentially (after initial expenses), you will be buying bitcoin cheaply: using SP20 at low power settings-mining at 1.2Th (~640w) will result in ~0.36 BTC/mo with electricity cost of ~$50 (at $0.1/kw), so you are basically paying $139/mined BTC for now. Just don't sell mined bitcoin and use cash instead to pay the electricity bill.
The final numbers/btc will be higher because you will be able to sell SP20 or S5 only for some % of the initial price. In ~6-7 mo you are likely to mine ~2 BTC, which is a lot IF bitcoin will be very successful as ONLY max 10mil people out of 7bil earthlings will ever have two bitcoins (it reality it is even smaller number due to unequal distribution).

In conclusion: a ~$400-450 initial outlay and mining effort for 6-7 mo might result in you being among top 0.15% or earthlings as far as their bitcoin richness is concerned. It might be something valuable if bitcoin succeeds, and if not, not much harm done as your outlay is relatively small.

Don007

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Live like there is no tomorrow!

Quote from: BitUsher on June 15, 2015, 10:51:04 AM

Quote from: RawDog on June 15, 2015, 01:51:32 AM

21 readily admits their devices WON'T BE PROFITABLE UNDER ANY CIRCUMSTANCE - but that they will be 'educational'. yeah, you're going to get a lesson alright.

It is too soon to judge without the specs , but a free router that was slowly paid for with electricity over 2-3 years , with added functionality and helped decentralize mining would be worthwhile investment IMHO. Investing is sometimes about money , and sometimes about our future of our ecosystem and if one were wise we would realize those don't have to be mutually exclusive.

I do agree, however, this topic is really about whether ASICS are worth investing money in; whether they can make a profit.

If you do not live in a country with very few energy costs (or in a situation with "free energy"), I don't think mining will be profitable for you soon. Especially not if you still have to buy the devices. However, like I said before, I'm talking about the current situation. If the Bitcoin hits the $10.000 next year, it would have been very profitable to mine nowadays, although then you might be better of by buying the BTC now in that situation.

BitUsher

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Quote from: RawDog on June 15, 2015, 01:51:32 AM

21 readily admits their devices WON'T BE PROFITABLE UNDER ANY CIRCUMSTANCE - but that they will be 'educational'. yeah, you're going to get a lesson alright.

It is too soon to judge without the specs , but a free router that was slowly paid for with electricity over 2-3 years , with added functionality and helped decentralize mining would be worthwhile investment IMHO. Investing is sometimes about money , and sometimes about our future of our ecosystem and if one were wise we would realize those don't have to be mutually exclusive.

NoBit

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I think it is a good time to invest. Just don't put money in mining.

ikydesu

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Quote from: AkaSnake on June 14, 2015, 05:37:39 PM

Hello there! I am new to the whole bitcoin universe and I've informed myself quite a bit about the currency, what I would like to know is that is it worth investing now in a ASIC rig?

I'd like some help to choose the best ASIC rig to mine and make the best possible profits asap.

Also I'd like to know that is luck a factor with mining coins? You can generate a block or coin and make more money than usual? I'd like some explanation on that.

Thank you for your help guys!

You can check about mining hardware comparison here: https://en.bitcoin.it/wiki/Mining_hardware_comparison
invest your bitcoin now and you can see in the next year Wink

also you can find about mining here: https://bitcointalk.org/index.php?board=14.0

~iki

adzino

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www.Crypto.Games: Multiple coins, multiple games

Just like the others said there are several factors that determine whether bitcoin mining is still profitable or not. These include the cost of the electricity to power the system, the availability and price of the rigs, and the difficulty. Also time is a factor. How long do you wish to spend and is it worth it spending those time mining? Right now i don't think it's profitable to mine bitcoins.
See if you are willing to lay out the necessary investment for the hardware, and estimate the future value of bitcoins as well as the level of difficulty. When both bitcoin prices and mining difficulty falls, it usually shows that fewer miners and more ease in receiving bitcoins.

jacktheking

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Personal Text Space Not For Sale

This thread should be belong to the Mining forum which is located here. As for your question, mining Bitcoin now is not really profitable. However, it all really depend on your location and luck. If the place you are mining in have low electricity fees, than it might worth mining Bitcoin. If it is not, you will not be able to get back your money.

grendel25

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I agree with most here. I think the BTC price is pretty low but this could actually be a solid base. But you don't want to be on the sidelines win the next big news comes out and you're sitting there thinking of all the things you could have done to start accumulating bitcoin. Welcome to the scene and good luck to you.

Amph

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abolutely worth, it, notice how the price is slowly climbing again, in the worst case you ca just short in the usual rande of 250-230

maybe don't invest everything you have bust start with a small amout, and increase it everytime the price rise a little

RawDog

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Quote from: BitUsher on June 14, 2015, 09:36:52 PM

Avoid mining until companies like 21 start coming out with consumer mining routers and IOT devices.

Yeah, this way, you can lose money far more efficiently. If you just buy an ASIC, you'll be way too close to break-even; it will seem like you are watching paint dry. With 21 hardware, you'll really know you are losing money as the losses will be far more difficult to overlook. 21 readily admits their devices WON'T BE PROFITABLE UNDER ANY CIRCUMSTANCE - but that they will be 'educational'. yeah, you're going to get a lesson alright.

Just buy a Spondoolies or Antminer, steal electricity from the power pole on the street, pray you don't start a fire, and watch as you bring in about .0001 bitcoin per week. Wow!!! That's living large!!!

Mining is done.

LiteCoinGuy

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In Satoshi I Trust

Quote from: AkaSnake on June 14, 2015, 05:37:39 PM

Hello there! I am new to the whole bitcoin universe and I've informed myself quite a bit about the currency, what I would like to know is that is it worth investing now in a ASIC rig?

I'd like some help to choose the best ASIC rig to mine and make the best possible profits asap.

Also I'd like to know that is luck a factor with mining coins? You can generate a block or coin and make more money than usual? I'd like some explanation on that.

Thank you for your help guys!

dont mine BTC . learn more about bitcoin before you make investments.

BlackMachine

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Quote from: bryant.coleman on June 14, 2015, 11:27:48 PM

Since the exchange rates are low, many of the major players have opted out of mining. This has eased the competition in that sector. Bitcoin mining is still not profitable for small players. But you don't need to worry about that. When the exchange rates move up again, you will earn hefty profits. The only thing to remember is to not sell all of your coins now, at this exchange rate.

Wouldn't it be a better choice to buy Bitcoins directly? Bitcoin difficulty has slowed down quite a bit but it is still quite high for home miners. You are bound to lose some money if you mine instead of buy Bitcoins when the rates go up. Mining companies ship ASICs slowly too.

bryant.coleman

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Since the exchange rates are low, many of the major players have opted out of mining. This has eased the competition in that sector. Bitcoin mining is still not profitable for small players. But you don't need to worry about that. When the exchange rates move up again, you will earn hefty profits. The only thing to remember is to not sell all of your coins now, at this exchange rate.

BlackMachine

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Quote from: AkaSnake on June 14, 2015, 05:37:39 PM

Hello there! I am new to the whole bitcoin universe and I've informed myself quite a bit about the currency, what I would like to know is that is it worth investing now in a ASIC rig?

I'd like some help to choose the best ASIC rig to mine and make the best possible profits asap.

Also I'd like to know that is luck a factor with mining coins? You can generate a block or coin and make more money than usual? I'd like some explanation on that.

Thank you for your help guys!

No. To get started with profits, you need to get a huge bankroll and landspace. Without either of them, profit isn't possible. Luck is one of the main factor in finding a block. If you have huge luck, you can even find a block using a block erupter.

BitUsher

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Quote from: lockscreen on June 14, 2015, 08:41:37 PM

so what your suggestion? where is a good place to invest

If you absolutely need to get rid of that fiat than just buy some bitcoins and invest in yourself by learning about this technology and investing in your education.
Any other investment is likely going to be riskier than bitcoin and bitcoin is risky enough as is.

Avoid mining until companies like 21 start coming out with consumer mining routers and IOT devices.

lockscreen

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so what your suggestion? where is a good place to invest

PenguinFire

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That Darn Cat

Since you just started playing with bitcoin, personally, I would hold off a bit and study about mining before you decide to make the investment. Good luck with your new hobby.

Harry Hood

sr. member

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To cover some of your energy costs you could consider a hedge against your mining activities. Buy futures in energy or (for an easier play) buy some shares of a Natural Gas commodity mutual fund. As we approach Summery, the price of natural gas will likely decrease and then increase in the winter. This small investment play could offset your actual energy cost increase due to the mining activities.

Have fun, mining for bitcoin sounds might cool. Better to get into it now while the award is 25 btc, before the halving next year.

Topic: Worth investing now? - page 2. (Read 3134 times)