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bitcoin mining is good right now

Discussion in 'CryptoCurrency' started by media master, May 17, 2019.

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  1. media master

    media master Registered Member

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    hello guys so after the massive grown up of bitcoin i want to start mining
    first because the electricity on my area is sooo cheap
    second i really need more money

    can i have a link for thread on how to start my budget is 3000$
    and thanks
     
  2. krishnaverma

    krishnaverma Jr. VIP Jr. VIP

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    You will have to buy set up for this and with $3000 you can start. For exact prices, you will have to contact a supplier.
     
  3. CryptoKujira

    CryptoKujira Regular Member

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    BTC is flying back down to at least 5.6k. Still good to mine at that level?
     
  4. Lamelo Ball

    Lamelo Ball Jr. VIP Jr. VIP

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    I don't know know how your calculation. But to my best of knowledge small scale mining is no longer profitable unless you join a good pool. There are lot of big players in mining industry and their mining capacity runs to millions of dollars. I don't want to discourage you. You can surely start mining and join a mining pool like Slush pool to maximize returns. Good luck!
     
  5. blyads

    blyads BANNED BANNED

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    Bitcoin is no longer profitable for small scale miners. They are only profitable for people with huge mining machines and very cheap power.

    You can try joining mining pools who pay you small money, and make some profit. But yes, if you save the bitcoins, you can make profit longterm for sure.
     
  6. bestspinner

    bestspinner Junior Member

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    if you mining just to generate crypto, then you can just buy it now.
     
  7. Jwick

    Jwick BANNED BANNED

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    Instead of mining BTC, why don't you look into Altcoin mining? With GPU's

    It's not profitable right out the bat. But within 6 months I think you'd break even.
    But the problem is, you will have to do alot of research of what hardware to buy and how to get the rig up and setting.

    There is alot of work involved but it's not too technical. You can learn from the ground up. Don't worry about overclocking and stuff like that.
     
  8. Md iftekhar Hossain

    Md iftekhar Hossain Junior Member

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    Bitcoin mining is less profitable right now. You should start mining some altcoin with new ASIC's for ethash/equihash/Cuckatoo31+ etc. Gpu mining will die soon because new powerful ASIC's are coming into the market which has good hashrate with less power.
     
  9. media master

    media master Registered Member

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    the thing that the electricity cheap as fack but i cant buy anything else than Graphics card
    can you suggest what Graphics cards i buy and what i mine
    so bitcoin is not a good idea but altcoin what i mine litcoin,dash,xrp
     
  10. Feticism

    Feticism Newbie

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    I wouldn't buy expensive hardware for mining now that some coins are integrating hybrid mining system POS (proof of stake) + POW (proof of work).
    POS will be the future mining method for sure and the coins that will not integrate it, will lose on the big run (bitcoin included).

    my 2 cents
     
  11. bobod

    bobod Newbie

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    It will take you months to make back the money you spent on GPUs, Bitcoin could be way down by then take that into consideration.
     
  12. CryptoKujira

    CryptoKujira Regular Member

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    If you're going to spend the money anyway, why not just invest in crypto buy buying some coins? You'll have a lot more of a chance of actually making money with 1000x less headache.
     
    • Thanks Thanks x 1
  13. Izickas Alfonsas

    Izickas Alfonsas BANNED BANNED

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    I sold my 10pc rx570 cards for 100$ 2month ago. Which i bough for 400$ each. How unlucky i am
     
  14. Val ii

    Val ii BANNED BANNED

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    I dint reommend mining. Bitcoin is already to expensive. But if youre going to mine, look for a new coin that just got added and mine that, you have a higher ROI with that method
     
  15. clickj4ck

    clickj4ck Power Member

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    When you say cheap electricity what do you mean by that? like how much you pay for electricity per 1 kW ? Which country you live in? One thing in mind is that you can't use high voltage in your house.
     
  16. dahl01

    dahl01 BANNED BANNED

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    bitcoin mining is profitable with current prices. if the btc price low, its never get any profit. just need find cheap electricity to getting more profit
     
  17. WatchMaker

    WatchMaker Regular Member

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    You have a small budget. Don't buy brand new bitcoin miners.
    If I were you I'll go to eBay and buy second new BitMain S9 mining hardware.
    With $3000 you can get 3-4 S9s which will make you some decent amount of money
     
  18. citizenmuj

    citizenmuj Jr. VIP Jr. VIP

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    Just having cheap electricity isn't favourble for mining. You need take into consideration several factors like the initial investment for hardware, BTC price, mining pool to join. You can try an online tool like cryptocompare to find how much profit you can actually make with BTC. If you are open to alts, there are many alt coins which will be more profitable
     
  19. Kuzim

    Kuzim Registered Member

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    Probably no , too many people already mining btc, so i suggest you try altcoins.
     
  20. toninin

    toninin Jr. VIP Jr. VIP

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    where you have the cheap electricity??