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BITCOIN? Is it really worth it?

Discussion in 'CryptoCurrency' started by ksbelisle, Aug 4, 2014.

  1. ksbelisle

    ksbelisle Newbie

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    Hi there,
    I am a new frenchy on BHW and i was wondering, anyone here is mining bitcoin?
    I have research the web for more informations regarding how to use those mining monsters but the info is kinda shaky or weird.
    I've bought some bitcoins earlier and i sold to to make some profits.

    But i was wondering how can we get bitcoin by mining, is it worth it?
    Thanks :)
    KB
     
  2. moonbitee

    moonbitee Junior Member

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    depends on many factors, but right now is probably not profitable to mine bitcoins unless you plan to really invest on it, the days of just using your cpu or assembling gpu rigs to mine and profit are gone. To really profit now you need to invest xx.xxx on asic miners and you also need to pay for electricity which if you don't get cheap you will probably not become profitable before you need to re invest in new equipment and your past investment is no longer profitable. The only way i see possible to really bank of mining bit coins now is to setup shop in shenzhen, china with a XX-XXX TH/s power and also with a chinese partner to sort out all the paperwork.

    On the other hand there is also some opportunities with the altcoins that are coming and going everyday, you can setup a cloud mining solution which can run you XXX per month and mine new altcoins early, wait for them to get pumped(if they get pumped) and then dump them all to btc which is pretty stable right now.
     
  3. myinternetempire

    myinternetempire Jr. VIP Jr. VIP

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    I am involve with BTC mining. I suggest you to mine altcoin rather than BTC. If you are not so experienced with mining, it would be better to join a pool. You can get all kinds of information on BTC from bitcointalk.org
     
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