Is BTC Mining a Waste of Time?

if you don't have latest gen GPU don't bother, It took me 2 weeks of mining 10 hours/dayon 1080Ti to get a single payout

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I was thinking on dropping 6k and buying 5 antminer s9, should i do it? Are those mining calculators right? They say i would mine 1.2 btc per month which is awesome but i doubt if its true. I dont pay electricity because reasons.

>>2686891
just buy it

#yolo

>>2686886
>>2686891

Dammit. Yeah I'm not really looking to buy a rig...don't feel like investing that much honestly. Was hoping I could mine /small potatoes/ with my old laptop :(

My mate who is the head of IT at a pretty large 'family' business mines at night and even then he doesn't get loads.

>>2686920
Honestly it seems like the faucet on freebitcoin is more profitable than mining haha

>>2686909
Then you will not make shit, so why bother?

>>2686943
just looking for a way to accumulate some passive BTC while I work during the day

>>2686873
Try another coin bytecoin or zcash might be more up your street.

>>2686873
You're not mining Bitcoin dumb ass

Try www.minergate.com. You can mine smaller altcoins from there and then trade them for Bitcoin or Ether.

>>2686938
haha

>>2686873
Would the new iMac Pro be a good mining machine?

>>2686873
BTC itself is mined on expencive ASIC miners..... and mostly in China where that miners was created.

+old usb miners are worthless.
they generate less than they eat up electricity/

same story awaits SC coin cause asic miner is already currently pre-selling

I was watching the video with weed telling us to all dump ETH.

But he said that he mines ETH to buy his food.

How much can you make mining ETH?

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>>2687254
good one anon

>>2687000
elaborate

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I did some math
>Using my gaming pc that I don't use anymore, I make $2.85/day revenue
>powering said pc costs $1.62/day
>make $1.23/day by running the mining stuff

Would it be worth monitoring the pc for that little?

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>>2687737
If I were to scale up to 100 pcs, I'd make a decent amount of money but I'd have to run the array for a couple of years to make the initial investment back.

>>2687737
You're neglecting secondary costs. What if you need to replace the rig? How much time will you need to spend on setting your rig up and maintaining it? Did you factor in potential fluctuations in electricity prices?

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>>2687833
Energy prices haven't changed much in years for me. I'm not using the pc for anything else so if it breaks I'll just stop.

>>2687737
might as well just sell your gpu on ebay you'll probably make more

>>2687853
Let's do the math then:
@$1.23/day you get 36.90 a month, or roughly $449/year.

Depending how BTC does:
@20% gain: $538.74
@30% gain: $583.64
@40% gain: $628.53

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>>2687888
It's not a particularly new model though, and it was more of a mid-range one as well.
Was doing some more math. If I were to buy newer high-end pcs, I could make about $7.46/pc/day. That might make it worth doing...

What's up with the cloud mining services? I took a look at hashing24 and it seems like it takes over a year to break even at current rates.

Why do people buy cloud mining? What do they expect from it?

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>>2687906
I haven't accounted for changes in BTC price, because that could go either way. I was just making a simple calculation for a general figure of what I'd make.
>>2687933
From what little I've read, the buyers buy the hashrate to apply it to alt-coins they think will grow in price. That's how they'd make their profit.

I'd read a couple of threads saying that they can make $10/day revenue using nicehash when using the newest gpus, but the power requirements go up as well. Assuming the pc uses 700 watts, it'd make about $7.48/day after power is deducted.
The only thing is, if I were to scale that up would nicehash have enough buyers to sell hashrate continuously?

>>2686873

Currently been mining for a few months with two RX480's, and right now I'm making about $7 a day dual mining ETH and SIA, However with all the normies starting to become aware of mining I'm worried about how big the difficulty is going to impacted.

Should I just sell my cards at this point? with all this mining craze going on I could probably sell the cards for 2x what I paid for them. Or I could look into more normie obscure things like BOINC with gridcoin.

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>>2687984
Is the normie invasion real, or is it just a meme?

>>2688003

https://www.youtube.com/watch?v=U9JIanRXsfU

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>>2686909
get the fuck back to plebbit

>>2686952
buy a hashrate share at Bitcoin.com

I invested ~$1k for a lifetime rate recently. seeing average $10 dollars a day but I'll make my money back and more.

>>2688017
>>2688003
This is probably an elaborate bait thread

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>>2688017
But how many people would follow through with actually setting up stuff? Would a bunch of normies running the miners on their dell laptops really make a difference?

>>2688069

Software like Nicehash makes it a piece of piss though, you literally just enter your bitcoin address and hit start, the program then automatically works out the most profitable altcoin to mine with your hardware is and then they pay you out in bitcoin.

Just think of how much difficulty would get added by thousands of people using their "gaymur" PC's to mine.

>>2686873
2018 btc fall

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>>2686873
I started with 1 6 gpu mining rig i bought with spare cash cost me around 2.4k to make. It was earning me around 300 dollars a week about a few months ago. I used rx 480s

I liked what i saw and then spent around 8k on 4 - 4gpu rigs which cost me around 1.8 k each. I started seeing around 200 dollars every 4 or so days

I then bought 4 more rigs at the same price and currently see 200ish dollars every 2 or so days

Problems i ran into while building and running these.
-power my power bill jumped from 50 a month to around 300ish sometimes 400

-power nyc apartments don't have big powerful circuits so having more than 2 machines in one room will trip your breaker OR make your machines run erratic due to lack of power

-heating the heat 9 rigs generate is insane.

-profit i naively believed the income would increase with time but it has actually gone down example. Early last month the profitability for my rigs on nicehash was around .057 btc a day. As of now it's.042

At this rate I'll either have to suck it up, or sell out. I can't but more rigs as i do not have the power for it.

I don't recommend mining, unless you get free electricity AND can upgrade or have access to a strong supply.

Buying a rigbor three is a stupid investment and you would be better off trading that money

Good luck

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I tried out Nicehash last night too with Nvidia GTX 1080 GPU and I have some questions.

Anyone know good settings for the Nvidia GTX 1080 GPU when mining?

The default settings in MSI Afterburner seems to have it at 100% power (120 is max) and max temp at 83 celsius and the fan speed is at auto and it seems quite low, I think the Nicehash program crashed 2 times when I tried doing mining with auto settings, but when I put the fan speed off from auto and put it at like 90 and max temp at 75 (which automatically puts the max power limit at 83%) I was able to mine all night.

Also is there other better programs than Nicehash that I should use?

>>2686891
OP, you'll make 1.2 BTC a month IF EVERYTHING STAYS THE SAME. Difficulty will continue to increase as more miners come in like yourself and newer, faster versions of antminer are released.

If you want to mine, mine an altcoin with an ASIC-resistant algorithm, but what I said about difficulty going up still holds. Like 90% of the money that the miner will ever make will be in the first 4 months.

can i mine BTC on my vintage nintendo?

just trying to steak my claim in the game ya know

>>2686886

how much was the payout? 1 btc?

>>2689257
sell the cards now my man

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>>2687385
>tfw I will be one of those sia miners

>>2687419
you selling your hashpower for btc retard