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Crypto mining

Discussion in 'CryptoCurrency' started by Martin.., Jul 1, 2019.

  1. Martin..

    Martin.. Registered Member

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    Hi! I'm looking into crypto mining and have around 3k$ to spend. I was wondering if anyone is doing this and how is it going thus far?

    The electricity here is pretty cheap and I'm already renting an office for almost no money.
    I've done my fair research, but I'd still like to see what you guys think.

    (I'm looking into bitcoin mining even though I'm starting to drift off from it and looking into other cryptos.)
     
  2. Social God

    Social God Jr. VIP Jr. VIP

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    There are many crypto out there where you can mine for higher profit.

    I think it’s a great investment if you have multiple mining rigs. As for Bitcoin, you should start since next year, the rewards will halve.
     
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  3. SMSPANEL4U

    SMSPANEL4U Junior Member

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    you can try 3 unit of crypto mining rig or ant miner z11 to start on. 3k$ is good enough to start. in this rig you can earn arround 400-500$ every month .
     
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  4. Martin..

    Martin.. Registered Member

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    By mining Bitcoin? I was looking into the z11 as well, and the S9 (seems a lot of people use it).

    If you don't mind me asking, what do you mean by "3 unit of crypto mining rig?" 3 devices?
    Thanks for the answer.
     
  5. CryptoKujira

    CryptoKujira Power Member

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  6. NicheLeads

    NicheLeads Registered Member

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    To be honest you are a good 6 years too late for a profitable mining operation.
     
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  7. SMSPANEL4U

    SMSPANEL4U Junior Member

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    means 3 ant miner z11 . each of that base on my learning you can earn 400-500$ a month . already minus the electric billing. so if u buy 3 ant miner z11 you can earn 1500-1800$ a month. this would depends on what software mining do you use. this earning base on nicehash software.
     
  8. Kuzim

    Kuzim Registered Member

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    BTC mining i is bad ideo, try to mine altcoins, to make bigger profit.
     
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  9. Ruffaro

    Ruffaro Junior Member

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    Yeah try to mine alt coins 3k wont take you anywhere if youre trying to mine btc
     
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  10. NicheLeads

    NicheLeads Registered Member

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  11. Papaproxy

    Papaproxy Jr. VIP Jr. VIP

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    How much is your electricity? Not sure for BTC, but for ETH and altcoins, it's not profitable since the gain is barely even with electricity costs. I'm not even talking about depriciation of the gear.
     
  12. brownsugar890

    brownsugar890 BANNED BANNED

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    what country are you ? are you do cloud mining?
     
  13. terrycody

    terrycody Elite Member

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    Mining what? This is 2019, I don't think your calculation is possible.
     
  14. SMSPANEL4U

    SMSPANEL4U Junior Member

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    its possible in z11 , with nicehash software please try to calculate that in there website thanks.
     
  15. Dialgon

    Dialgon Regular Member

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    Mining is not as efficient as it used to be. As BTC became popular, bitcoin mining has grown quite difficult. Expert miners have already entered this business and are running warehouses to mine coins. Competition is increasing immensely. So if you are still going to mine, you will be competing with mining farms. I guess it is much better to buy bitcoins instead of mining.
     
  16. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP

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    There are a LOT of folks still getting into mining.

    What they do is mine profitable coins then exchange for Bitcoin.
     
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  17. Lopezbeno

    Lopezbeno BANNED BANNED

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    Just trade in BTC, mining is dead for low budgets.. google "crypto mining" then go to images.. Those farms cost more then 3K.
     
  18. Papaproxy

    Papaproxy Jr. VIP Jr. VIP

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    Only if you get very good electricity price. Otherwise - not really, it's barely break even. If you know any coins that are actually profitable to mine (minus electricity and equipment depreciation), please let me know. :D
     
  19. Razen666

    Razen666 Senior Member

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    Mining is profitable if u mine for example a new coin that u think it will be worth something and exchange it for btc
     
  20. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP

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    Go to coinwarz.com

    There are tons of profitable coins.