Is Bitcoin BTC Mining Worth It
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How do you mine Bitcoin – and is it still worth it? They are mining the undiscovered bitcoins. Bitcoin mining is probably not for the little guy any more. Is Bitcoin mining worth it? This is a simple question with a complex answer. There are a few different factors that influence whether or not Bitcoin mining will be worth it for you. This guide will help you understand Bitcoin mining profitability and give. A higher BTC price could mean the. However, one bitcoin wasn’t worth one penny.
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Don't know which ASIC miner to buy? Have a question or interesting post about Bitcoin mining in general? Well hello friend! And welcome to! 's Inspired Greatest Quotes of All Time - RELATED SUBREDDITS is aimed towards general Bitcoin related discussion. Contains anything technical (i.e.
Code, proposals, whitepapers, hardware, questions) relating to Bitcoin. Is where you go to buy and sell things for Bitcoin. I have yet to start mining or build a mining rig, considering the hype and extreme potetial Bitcoin holds as a cryptocurrency I have began a lot of research on the topic.
My conclusion however to whether or not it was worth building and buying a rig now, June 20th 2014, is despairing due to this graph by this graph the cost of mining has exceeded the amount of money made mining. I am very interested in starting to mine but not sure it is profitable. Please share your two cents and any counter arguments you have. I don't know. All I can tell you is that my Butterfly miner (marketed as 5 GH/s but actually ran 8+ GH/s) will never break even much less make a profit. Even when I wasn't paying for electricity it was questionable but now that I am paying for my own electricity it's just not going to happen.
Basically you need to start with a large investment and then keep buying more and more hashing power to stay ahead of the difficulty increases. Or buy an extremely cheap miner. I guess it all comes down to $/GH. Using mining calculators will give you an idea of how long it will take. You also need to consider paying in dollars vs.
Paying in Bitcoin. Paying in dollars might be easier to make ROI depending on the exchange rate. If you pay in dollars, start mining, and then the exchange rate starts to go up (bitcoin get's 'more expensive') then you'll make ROI quicker just because the exchange rate moved. If you pay in Bitcoin it doesn't matter what the exchange rate does. You'll always just have to calculate Bitcoin to Bitcoin ROI. • I'm using two second-hand 5770 GPUs and getting ~400kh/s.
• I pay between CAD 0.07 and 0.15 / Kwh for power depending on time of day. • I mine through a profit-switching pool that pays out in BTC. • My computer's always on anyway for other reasons, so base power use doesn't count.I figure I'll just barely break even on the price I paid for the video cards at almost the point at which I start paying more for electricity than I'm getting in bitcoin, if the prices stay in the current range. Basically, I'm converting power into bitcoin.