Topic: You Can't Mine Bitcoin Profitably (Prove me wrong!) - page 3. (Read 1009 times)
I also take it you are selling the BTC right as you receive it in the mining case? If you can cover your mining costs than you can hodl the BTC you've mined and sell it at strategic points. This is why you see miners accumulating when the price gets too low and when the market is in a blowoff top phase you see miners selling more.
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So, you can't mine BTC profitably at current miner prices and hosting fees at compassmining
Correct - if you are using Compassmining. You should change the title of this thread to reflect that vs sounding like a blanket statement about all BTC mining.Find a place with cheaper hosting fees and it is a different story. As has been said numerous times in the past, you need to find cheap power (and/or hosting where power is cheap). Only then is there a good chance of profitability.
Excuse my provocative title 
I am finding that except for a narrow range of BTC price rise, it is better to buy BTC than to mine it.
I have been looking at buying Antminer S19j Pro 100 TH (3250W) from compassmining using their hosting ($.0624/kWH) and F2 pool (1.2%)
It costs 8000 (after 3% credit card fee).
Assuming a starting BTC price of $30,000, with starting difficulty at 1.4363, with both increasing at 4.4% per month:
After 3 years:
- ROI of mining - 181%
- ROI of purchasing BTC - 351%
Change the BTC price rising to 6.5% per month, which corresponds to BTC doubling every year:
- ROI of mining - 337%
- ROI of purchasing BTC - 806%
If BTC rises only 1% per month, then the ROI of each about the same.
- ROI of mining - 40%
- ROI of purchasing BTC - 42%
At less than 1% rise per month, mining does better than purchasing.
So, you can't mine BTC profitably at current miner prices and hosting fees at compassmining.
Prove me wrong!
I am finding that except for a narrow range of BTC price rise, it is better to buy BTC than to mine it.
I have been looking at buying Antminer S19j Pro 100 TH (3250W) from compassmining using their hosting ($.0624/kWH) and F2 pool (1.2%)
It costs 8000 (after 3% credit card fee).
Assuming a starting BTC price of $30,000, with starting difficulty at 1.4363, with both increasing at 4.4% per month:
After 3 years:
- ROI of mining - 181%
- ROI of purchasing BTC - 351%
Change the BTC price rising to 6.5% per month, which corresponds to BTC doubling every year:
- ROI of mining - 337%
- ROI of purchasing BTC - 806%
If BTC rises only 1% per month, then the ROI of each about the same.
- ROI of mining - 40%
- ROI of purchasing BTC - 42%
At less than 1% rise per month, mining does better than purchasing.
So, you can't mine BTC profitably at current miner prices and hosting fees at compassmining.
Prove me wrong!
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