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BTC Mining

Discussion in 'Making Money' started by Spike1337, May 15, 2017.

  1. Spike1337

    Spike1337 Registered Member

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    Hello guys, I'm interested if buying antminer costs the price which you pay, someone told me that with L3 I will have profit of 800$ a month, is that true?

    Sorry if I write it in differenct category, but it's obviously about making money

    thanks.
     
  2. sturose

    sturose Jr. VIP Jr. VIP

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    I highly doubt it. I know nothing about cryptocoins but the general consensus seems to be that no bitcoin mining is worthwhile these days.
     
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  3. Sephrata

    Sephrata Jr. VIP Jr. VIP

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    Of course - it makes perfect sense for you to be able to buy something for $1,300 and be able to make $800 a month from it...
     
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  4. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    It all depends on your electricity cost.
     
  5. Spike1337

    Spike1337 Registered Member

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    It costs like 4500$ on ebay right now, and it's not for btc its ltc miner, and as he told me with current currency it will have profit of 800$

    It's costs like 0.04$ in dollars
     
  6. William702

    William702 Jr. VIP Jr. VIP Premium Member

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    Love this post, if you are being serious then you make a valid point and one could expect to invest an amount of money in exchange for a monthly income, probably not at the rates they suggest. This could also very easily be sarcasm in any case made me laugh at the thought ;)
     
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  7. belliferous17

    belliferous17 Registered Member

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    Dabbled in BC for a couple of months. Even had a few raspberris. I ended using theither bc to flip RC's, and even then it was only like 200$. That's after two months bro. This was 2 years ago. I highly doubt that whatever it is your looking at is legit. Some people claim to make money. Others are selling "secrets". Use your head and think about what they get. Why , sell something that makes 800 by itself? If you had even 5, you'd be set. So either they worked at one time and the guy is flipping them, or its an outright scam.
     
  8. Sephrata

    Sephrata Jr. VIP Jr. VIP

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    It's the latter.
     
  9. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Search for online crypto mining profit calculators. Shouldn't be hard to do the math actually even without one. How much energy does the miner suck? Just multiply by kwh (0.04?) and then by 24 hours and then by 30 days and you get the monthly expense of the miner. Divide the price of the miner by your expected return in months and add that monthly cost to the energy bill until you pay off the miner. Add your maintenance(miners can require some restarts and face crashes along the way). Then you get a monthly cost. Then decide if there's a ROI.

    LTC is the same system as DOGE and other scrypt cryptos. So you can mine any scrypt with LTC miner, so it may be profitable for some coins and not others.
     
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  10. whiteblackseo

    whiteblackseo Jr. VIP Jr. VIP

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    Mining in NA is killer on electricity, maybe varies per state but it's better from a developing country as it's cheaper in costs. But regarding the 800 it's highly unlikely
     
  11. Dioni

    Dioni Jr. VIP Jr. VIP

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    I dont know about crypto neither but what I have heard from
    No matter what machine you have to mine, if you do just by yourself you won't get any profit
    You can join pools where people min together, search for it.

    Good luck
     
  12. Debian

    Debian BANNED BANNED Jr. VIP Premium Member

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    I would tend to doubt mining btc today is profitable at all. 4 years ago, maybe. But not when a coin has been mined like all hell for 6+ years already. The difficulty would be so high and the machinery investment needed far outweights any potential profit now.
     
  13. Spike1337

    Spike1337 Registered Member

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    Thank you everyone for your responses.


    I understand how to count expense, but how to understand how much BTC it will make in month?
     
  14. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    The whole network has a "difficulty" which establishes how many coins the whole network is producing worldwide. The higher the difficulty, obviously the less coins are produced by everyone who is mining. Same principle for all coins. So the answer to your question is "it depends on network difficulty".
     
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