Quote:
Originally Posted by rowan
That looks like a multipool which pays out in BTC. You're actually mining another coin - and the choice of coin can change depending on its value - then they sell it on an exchange and give you BTC. So yeah, it's almost always more profitable to mine something besides Bitcoin.  Question is, are you still breaking even? |
I have no idea - right now I'm just playing with all of this stuff.
Quote:
Originally Posted by JohnnyPearl
Just buy Antminer S9. Here in Quebec with the current price for electricity and 5700$ US for a bitcoin, you'll make about 0.0025 Bitcoin a day per machine. Any other way is not worth the time or power.
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I was thinking about that. I'm in Quebec too so electricity is nice and cheap thats for sure. The main problem I have with this machine is the noise and heat it seems like it produces, at least that's what I saw on Youtube.
Quote:
Originally Posted by rowan
4730 TH/s? 
The problem with buying dedicated hardware, especially as a retail amateur, is that it will take some time to break even. Some rough calcs suggest at least 6-8 months at current value to pay back the purchase price of an S9, and over that time difficulty is likely to increase, so the payback could be heading more towards a year. By then your equipment is almost obsolete and you have to start the cycle over.  |
That's right, but there are people out there who are interested in buying smaller or out of date units too... except that I don't think they will work. As BTC becomes more complex it becomes harder to mine, so ever-faster machines will be required. Even worse, anyone who buys the old machines is just wasting their money unless they get a fast one dirt-cheap.
Quote:
Originally Posted by freecartoonporn
if you are new to mining and dont want to invest in hardware and fix numerous issues.,
then your best bet is get cloudminnig contract.
or
buy btc directly.
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I've been testing a cloud mining setup too. Super easy to get started, but pricey. ($279 gets you only 150 H/s which is less than what I have running on one of my old desktops right now. I'm just a beginner but it looks like you have to have some serious money and spread it out across a few different products in order to have it work. Of course I could be wrong... I probably am.
But yes by far the best way to make money in BTC is to just buy and sell. BTC's up 4.2% since yesterday. Amazing.