Is bitcoin mining profitable?

is bitcoin mining profitable?

Not unless you have a giant warehouse in Iceland with thousands of GPU's

>GPU's
>Bitcoin

user...

no

miners are gonna fud u and say its not profitable because they dont want more competition

truth is yes its profitable as fuck right now

ASIC, whatever m80 it doesn't really matter if he doesn't have any of them

This is just not true you fucking pajeet nigger

Tell us what country you're in where the average Veeky Forums posters budget can buy enough equipment to offset the cost of the equipment itself + electricity costs to make more than he could have made just trading the swings on an exchange?

depends on the electricity costs, but yeah its mostly profitable

In the US some cities are doing unlimited electricity for a flat rate.

Debating renting a room or something in said places just to take advantage and mine the fuck out of there.

This is a couple years down the road with my main job being a source of income for this investment.

It’s a 50/50 if I realistically do it.

>intentionally making math so hard it takes computers months to figure that shit out

how did they do it

some math wiz explain this shit to me

If I have acces to free electricity, I really should start mining right?

bought an open end mining contract for BTC in June this year for 700,-. terminates afrer a while when the profits cant cover the electric/maintenance costs anymore.

Created around 0,1x BTC so far and is still sending every few days 0,002 BTC to my wallet. So im in the plus already, yeah it pays off.

its around 5TH/s at Genesis-Mining. Dont go there though, they have shitty service and have a lot of bugs. Figured that later, wouldnt do it again with them.

Cost of antminer + cooling equipment = ~$1700
Avg cost of electricity in America = $0.11
Profit (Estimated) = $8000
Break even in 3-4 months.

This thread isn't about trading it's about if mining is profitable, and it is.

Hello 2010

Hello rajesh

No, not anymore. Unless you already have a setup running. There is speculation that because they are getting harder and harder to mine, people will stop mining them all together and there will be even less in circulation than what they originally thought there would be.

its not hard, it's just many operations. You could do it on paper if you wanted

It's just really long calculations, it's not like they're working on unsolved problem in mathematics or some shit that actually requires a brain.

you also break even sooner if you can utilize the excess heat i.e. heating your house/room
I heated my room back in 2014 by mining Dogecoin

Electricity is free in Turkmenistan. You know what to do now.

No, people are doing it out of charity because they love you

Couldn't NASA do something similar?

Put huge ass space and time equation for sale and make computer's around the world solve it

its this. If you are committed and believe the price will rise, then fucking do it and stop asking.

it will take a bit of time to recover the initial investment(literally same as any fucking business) but yet, it will make you money eventually.

Gridcoin do that, and you get paid for it.

>electricity is 0.06 kw/h here
Should I actually do it? And what should I use to do it?

Yeah

Monero is pretty good.
CPUs and AMD GPUs are the best for mining it but10xx Nvidia cards are okay too.
Getting 0.025 XMR/day with 2x 7970s, 1x 6850 + an i5 and the AMD 8 core meme from 2012.
A single VEGA 64 will also get about 0.02XMR /day. Would recommend that route if you find them.

Would ant miner s7 s be worth buying ?

If you could purchase it and have it arrive within a reasonable timeframe, yes. But you will probably get cucked by no stock / the buyer list already being 20 miles long.

I too wanted an Ant Miner, though looking into it I think I'm just gonna grab some VEGAs and mine altcoins instead.

Monero is the new bitcoin anyway :^)

Then how does one go about creating their own monero ASIC or is it not possible?

How much effort is needed to mine though? Could i just plug it in and be alright forever or is there aloft of maintenance work? need to be good at programming?

...

growing hash rates will reduce your reward.
You have to constantly upgrade your hashes.
If not, you just gonna get less less every coming month.

I have no fucking idea. Cryptography is wizard voodoo magic. The algo is called CryptoNight if you wanted to google ASIC possiblity.

I spent about 8 hours configuring broken hardware in a way that was efficient and maximized my hashes per second.
If your shit works and is modern, I imagine an optimal setup could be figured out in maybe 2 hours.

Spent an additional 6 hours messing with voltages / clock speeds to maximize energy efficiency.
There is no programming involved whatsoever. I downloaded XMR-STAK and then played with a text file of settings.

Get executed for on charges of espionage?

Supposedly, Monero is ASIC resistant. Chinks with ties to wafer fab houses can’t cheat it... it’s a level playing field and will probably be profitable until 2023

with ASICs yes