Is bitcoin mining profitable 2024 reddit

Is bitcoin mining profitable 2024 reddit. As such, it is more resistant to wild inflation and corrupt banks. I think a fair number of folks here who are paying consumer electrical rates have never done the math (taking into account periodic increased difficulty, pool fees, electricity inflation, etc) and are in for a series of unfortunate events. This mining machine retails for just $800 and you can buy it directly from the manufacturer. Then pick your primary coin to mine. 5k taxable profit - tax allowance amount (lets assume $500) = $2k profit taxed over the 4 years makes eff. If you clicked the button above, then you are currently mining bitcoin, the math-based digital currency that recently to At least 80% of the ETF's assets will be companies with at least half their profits or revenue from bitcoin mining. Many are taking profits; others appear to be adding shares. The subreddit r/GiftIdeas is a gold mine not just for gift ideas, but also for drama. Odds for the ~1B jackpot are much much lower. The only way to do 1 is to improve hash rate efficiency, which obviously has a ceiling (latest equipment, heat management, etc. g. 1 AMD Ryzen rig (the most efficient in my research in terms of kilowatt-in-profit-out between CPU/GPU/ASIC/various algorithms) pulls about 3. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. : $5k per year income - $2. But to answer you question, yes halving should affect mining, it reduces the mining reward and therefore increases the price. Ethereum is no longer minable. Indeed, the break-even price for operating an S19 miner is expected to exceed $50,000 after the halving event. But yes, worth it in my opinion IF you take the time to make sure thermals stay where they should. Solana cannot be mined. $5 a week is $260 a year and that’s with the assumption that Bitcoin doesn’t even go up in value. Plus mining crypto gives anyone the chance to do it (decentralization) and learn something new. It turned out to be one of the best decisions I've made! Looking ahead to today, I'm interested in mining BTC on my PC just for fun. There are too many stubborn people in Mining and not enough people in the world for Mining to EVER be profitable Lastly, my real business in the desert is a vertical farm. But is Bitcoin mining still profitable in 2024? Mar 7, 2024 · With so many Bitcoin mining events and crypto conferences lined up in 2024, attending such events helps miners gain valuable insights from industry experts, expand their network, connect with potential investors, and showcase their expertise. Is Bitcoin mining still profitable? best to use own GPU or are there good Cloud GPU providers that can still be profitable? Bitcoin mining difficulty is going up a lot and only getting harder and harder to be profitable. Moreover, the company has an agreement with a prominent electricity supplier in its region, enabling the company to keep costs down, offering higher returns for For mining to really be profitable at the same level eth was before the merge, You either need 90% of miners to die off, OR a new coin to take up the $165BILLION DOLLAR market cap, OR a combination of the two. For example, while Bitcoin hit a new all-time high in early 2024, the high cost of electricity and advanced mining equipment reduces net gains. Jump to Valkyrie's bitcoin miners exchange-traded fund will star Galaxy Digital researchers argue that the energy consumption of bitcoin is under fire due to the transparency of data. Mar 27, 2024 · We’ve answered the question in full – Is Bitcoin mining profitable in 2024? Overall, Bitcoin mining can be profitable, but a significant amount of hashing power is needed. A more beginner-friendly approach is to consider cloud mining. 10/kwh for electricity, it would take nearly 12 months to recoup my original investment in a single ASIC miner and that doesn't even include adjusting for difficulty increases, which pushes it out further to 18-22 months (breakeven). Here are seven for your perusal. And profitability also depends on your current electricity rate and other factors as well. I’m just wondering what people think about the future of GPU mining? e. And see your costs after a month Also keep in mind that you'd only be able to mine $100 a day for maybe a couple of weeks before the difficulty goes up and you get less. I took the time and did the math to see if you make profit from bitcoin mining. Gridcoin is 57% more profitable in dollar terms than any other cryptocurrency. I work for a North American BTC mining company Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. As long as Bitcoin is being deposited to your account it’s profitable. Profit. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. The news makes bitcoin mining and stuff sound horrible but the overall energy use is pretty similar, albeit bitcoin can be pretty energy intensive. Sep 2, 2024 · 2. Along with cash-based in Examples of ores include aluminum, copper, clay and sodium. Even if you adjust for operating cost ($1000 for Antminer S9 per year vs $2 for a powerball ticket) and $200,000 BTC lottery prize vs 1 million powerball prize, the expected payout of BTC lottery is ~11 times the expected payout of powerball. You can typically lower it significantly (not sure how much but certainly more than 10%), resulting in significantly lower temps (longer lifespan and lower sound level) and only slightly lower hashrates. 5 per month, now it’s over £1. is going to be the U. The question comes up constantly and the price of the bitcoin constantly fluctuates. But you have to actually look up what coins to mine and what settings to use. ). There’s the mother-in-law who North Korean hackers are hijacking computers to mine cryptocurrencies as the regime widens its hunt for cash. I learned that mining on a laptop is not efficient and that it's better to buy BTC directly with cash, which I did. NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. This item has been corrected. " I cannot find one thing about this company. 6M subs and generating $50M in adjusted EBITDA. your talking about the spilt in coin given out to stop mining inflation? it is at 6. The coin you mine raises it's price and you make decent profit without sacrificing any money in the process. Bitmain Antminer S21 I'm new to mining relatively, my work in the oilfield has a 4 generators running 4 hash hut units off our wells natural gas ( free power). (Still not paying for the power usage, but hey, it's a start!). 5k write off = $2. I basically paid zero for my miners and my power/cooling infrastructure. If these companies buy 1000 miners and enter the market the hash rate will pump through the roof making your miners less profitable because there are more miners on the network. The bottom line is bitcoin mining is subsidized by fiat loans, companies can absolutely make a profit in fiat terms by taking out loans to buy miners, but by spending bitcoin on miners directly the depreciation of the hardware will make it so you never, ever make a return in bitcoin. That tool is a gift to us small guy-miners. Unfortunately, my electric rate quite high at $0. Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since 2013. An ore is a naturally occurring mineral, rock or metal that can be mined in sufficient amounts to sell for a profit. Members Online Mining difficulty is at all time highs and crypto markets are on a downtrend. Members Online Mining revenue forecast "This is really the right time to start investing in cryptocurrencies because Bitcoin is still the most popular cryptocurrency. bid for the 2024 summer games. To start us off I will use the baseline 166k Metal Fuel cans with 100/100. Mostly it was around a dollar or even less. It can make a profit, and right now, it would. to boil it down very simply: the macroeconomic force on bitcoin mining is more and more miners compete to 1. Heck, It might forever. If ETC's value quadrupled, the number of cards mining on it would _at least_ double, meaning revenue per day would at most double. By clicking "TRY IT", I agree to receive newsletters and promotions fr This article provides a look at my latest research, revealing how it came to be that a 2022 Cambridge Centre For Alternative Finance’s (CCAF This article provides a look a We have diplomatic suggestions, and petty ones. ?) Given the fact that as today I should earn 2k/mo x 3years = 72k a negative 16k in profit after 3 years of mining. Federal Bureau of Investigation is launching a new unit dedicated to tracking SDC stock is losing the momentum it built with yesterday's short squeeze. You start mining with them and you never pay for electricity, nor equipment, cooling or cabling. It’s not braindead easy like last bull run. Antminer S9 would be losing money for example. For reference, over the last year the average for altcoin mining was about $3. Difficulty is measured in the hash rate, which measures the rate of solving the problem. My Bitcoin mining is actually just using the extra energy I already produce. Instead, simply buy and hold Bitcoin until your machines are profitable again (if ever), or look for a hosting site. dollars, and purchasing the cryptocurrency that captures your interest. increase their top line and 2. If you make it with 1 GPU, you'll lose 123k for every I've been looking to start BTC mining, but the numbers just don't seem to work. You would be far better off purchasing bitcoin and holding it. The shift towards becoming a cashless society is g Undervalued Reddit stocks continue to attract attention as we head into the new year. Until then, please utilize the resources in the MINING WIKI for additional useful guides and information. Luke Lango Issues Dire Warning A $15. ETC also is ASIC minable, and if it ever truly got high value, more ASICs would be built that would tank GPU profitability. Just made like 15 $ with months of mining,was only for fun because I already have some solar panel and some pc but if you have to pay energy there's no point in my country (maybe if you live in a country with low energy price) to do that,you'll pay so more the electricity bill that what you get (offcourse in the actual price of monero). You have available a ton of free servers and free electricity. We would like to show you a description here but the site won’t allow us. What is the cheapest recommended miner I can get started with while being profitable? Right off the bat, you will not make money in any capacity with just a level 1 bitcoin farm. One of the best Bitcoin mining rigs for entry-level miners is the Ebang Ebit E12. Night scoop up some 3060/70 if I can get em cheap enough. Discovery announced Friday American hotel giants can’t get enough of Europe, especially when so much uncertainty lingers over the usual golden ticket of profitability that is China and its travel recovery. Trusted by business builders worldwide, The shift towards becoming a cashless society is gathering momentum. Seems worth it to me, especially since OP mentioned they might just do it for fun, even if it’s not profitable. meaning one by one those miners will get shut down due to economics and things will gravitate towards equilibrium at $0. The higher asset prices rise, the more profitable mining becomes and the less efficient miners need to be to You would need 1500 Th/s (15 miners at 100 Th/s each) just to gross $33,000 but that’s not including the price of energy. I see inconsistency and inaccuracy in responses and it is killing me. Trusted by business builders worldwide, the HubSpot Blogs are your L. 7 Years Jun 17, 2024 · 8. Tough economic climates are a great time for value investors Here are some helpful Reddit communities and threads that can help you stay up-to-date with everything WordPress. So in 2024 its thought that instead of mining 6. When bitcoin is 60k or eth is 4K mining is profitable. Algorithm: Utilizes the SHA-256 algorithm, making it a secure choice for mining Bitcoin and other profitable coins. The computational power required to bring new May 21, 2024 · This guide doesn't cover home computer mining because even top-of-the-line GPUs in May 2024 cannot mine bitcoin fast enough to realistically become profitable, even in a pool. 0118 per week, but with my "strategy" (what i thought everyone was doing) I pull in triple to quadruple that for sure. However be inclined to try something like CudoMiner. You'll need to undervolt/underclock it and probably keep it on a teepee position or on an active cooling pad. Halving Events: Rewards are halved every four years, affecting profitability. Members Online potlop Things are starting to change though with the expectation of upcoming Bitcoin spot ETF approvals and the halving event in 2024. Start slowly, don't invest more than you want to lose, and talk to other investors & miners as you go to learn as much as you can. By using bitcoin mining websites, such as Sohash, you can start mining in a few clicks without any expensive mining hardware and software. Ore Here’s a look at the two different ways blockchain-processed transactions are validated. net) is saying my daily profit will be negative. Mining is going to be very profitable. tldr; Bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate Bitcoin transactions. Don’t need another coin right now. Understand that some machines may never ROI unless they have no issues over the course of the next 3-4 years which is currently the predicted ROI timeline for I've been looking into the history of mining profitability using a chart I couldn't find a time where you could make more than $5 a day using regular laptops. If you are GPU mining at NiceHash you are getting paid in Bitcoin but you are not mining Bitcoin. I created a similar spreadsheet to the above (after I discovered this site) and my numbers jive. It'd be 100% profit Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Olympics are often frowned upon as financial decisions. Bitcoin's Price: Profits fluctuate with Bitcoin's value, making earnings unpredictable. Who cares what the price is in fiat. Crypto mining is dead, better use that money to buy BTC, ETH. Mining Difficulty: As more miners join, it gets tougher for small-scale operations to compete. Miners can profit if the price of bitcoins exceeds the cost to mine. While UPS shipments are free, you’ll pay an additional $165 if you prefer DHL. Aug 30, 2022 · The Bitcoin mining business is similar to mining physical assets, like gold or silver. Jan 1, 2024 · Leading Bitcoin (BTC) mining players have highlighted the need for efficiency to remain profitable and operational after the halving in 2024. Bitcoin mining is a free market in itself where the most profitable miners find the cheapest energy sources. Been busy with work so haven’t had the time to really get into crypto and plan out the first half of the year but I’m sitting on a lot of kaspa still, bitcoin is still bitcoin so I dca that thru out the year and I have heaps of nexa. 125 per x time so that will drive the price up because there's only 19 or so million instead of 21 but eventually btc will rise so much because Noone will be mining it it will end up profitable to mine it. It also makes mining harder, i am looking forward to see how will they keep BTC secure with this high difficulty In order to be profitable in 3 years I will be forced to buy new hardware and scrap the old one. Discussion of mining the cryptocurrency Ethereum. Jump to In the midst of ongoing debate regarding the energy c This item has been corrected. Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. As long as you're bullish on bitcoin, it's reasonable to be bullish on mining. 15kw/day at the wall all in mining Zephyr and gives about 17k hashes/sec RandomX wise Say you could run 8 of those You could make $9/day ($3. Feb 21, 2024 · Offering one of the most profitable mining pools on this list, ECOS has created a cloud mining service that allows crypto enthusiasts to start mining without needing their own rig. If you clicked the button above, then you are currently mining bitcoin, the math-based digital currency that recently to. Rising energy costs and fluctuating cryptocurrency prices significantly impact profits. Someone just played a joke on you. Russia has busted engineers working at a cl It's pretty bullish on cryptos for Q1. But what I’m suggesting is that as difficulty increases and hash rate goes up, I think higher cost electricity is going to be the marginal player…. The U. Since electricity costs take up a sizable chunk of Bitcoin mining profits, securing a low-cost energy plan or setting up in a region with cheaper electricity is the quickest way to boost profitability. Look to pay $20 per TH or less in these markets; S19 pro series is good but depends on your preferences; Whatsminers are also robust, too. These three lithium mining stocks are positioned well for the future -- and also pay regul There are obvious jobs, sure, but there are also not-so-obvious occupations that pay just as well. 07/kWh. Due to efficiency concerns, many miners are upgrading to the latest mining rigs in anticipation of the upcoming Bitcoin halving. 125btc. 240v + HE power supply’s + solar panels + passive cooling is your life after that. * Members Online Mining energy is ultimately expended as heat. Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Please do NOT message the moderators in regards to this. So only if BTC goes bananas I will be profitable? So mining is almost the same if not worse than hodling? Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. I just watched a video on YouTube (voskcoin) saying it’s profitable. In other words: With mining, you are stretching on your taxable profit over multiple tax periods which works in your favour. 3k/yr) at the moment mining Zephyr. However it’s bitcoin, and whatever you hodl grows in value. We currently run a 1100+/- TH/s, we run used ASIC S9s as well (128 of them), I have been tasked with operating/maintaining them and have been scoping around trying to learn more. Mining ETH is profitable, pretty much regardless of your electricity rate. But everyone else pays about $7k to mine one btc. TL;DR: My calculations show that at ~$14000 per Bitmain s19j Pro with an OC at 140th/s, mining is not profitable given the difficulty increases outpacing the CAGR of BTCs value in perpetuity. Learn if bitcoin mining is profitable. Sep 4, 2024 · Bitcoin mining is still profitable in 2024. The best ones are the ones that stick; here are t Reddit has been slowly rolling out two-factor authentication for beta testers, moderators and third-party app developers for a while now before making it available to everyone over Discover how the soon-to-be-released Reddit developer tools and platform will offer devs the opportunity to create site extensions and more. Nov 8, 2023 · Bitcoin mining has had an interesting journey over the past twelve years, going from home computer CPU mining from basic computers to massive, dedicated facilities set up in places like Iceland, Texas, and others, with tens of thousands of ASIC mining computers doing nothing but mining Bitcoin 24/7. CryptoTab – Innovative Cloud Mining Platform with Flexible Mining Options. Efficiency : The high power consumption indicates the manufacturer's intent to create a powerful miner for mining a diverse range of coins. Anyone can profit from mining, but it will come down to the individual running it and their initial capital investment. The odds I posted were for the $1M prize. This means investing in powerful ASIC devices and consuming vast amounts of energy. 27, decreasing the bitcoin mining difficulty to 77. Is it legit ir a scam article? Anyone? Bitcoin mining's profitability is a function of the price of Bitcoin vs a set of inputs including electricity cost, capital cost, network hashrate, and halving schedule. 19 hours ago · The next bitcoin difficulty adjustment is estimated to occur on Sept. I am not a pro at this stuff and this is the crude research of an 18-year-old with nothing better to do with his time so please go easy on me and leave Eventually, you sell all after 5 years of mining. Mining at a loss is never a financially good idea unless you value non-KYC Bitcoin enough to eat the loss. Unless you have extremely cheap energy you’re better off just buying Bitcoin. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. There are a few paths individuals can take to crypto mining. It would definitely be realistic for you to recover your investment in less than 1 year and also start to turn a profit, provided Bitcoin prices sustain above the $35,000+ level. Discovery said that its streaming business will turn a profit in 2023, adding 1. In no way am I saying that I know everything, I am always learning, but here is my attempt to answer the question on mining vs buying. No mention of difficulty adjustment either. that is 21 hours of fuel for 166k. Cointelegraph contacted several mining firms to Rising energy prices and falling cryptocurrency prices has made it difficult to turn a profit mining Bitcoin (BTC). Mining is a process of validating bloc ANY stock was a penny stock until very recently, and its financials have been nothing to write home about. 12 T, as per Coinwarz. If you’re a lawyer, were you aware Reddit Here at Lifehacker, we are endlessly inundated with tips for how to live a more optimized life—but not all tips are created equal. The SR "crash" was great for someone who watches Bitcoin news all day, I sold all my btc @ 119 and re-bought @ 85 increasing my entire holdings about 16%. Mining is a process of validating bloc This item has been corrected. , there’s much debate about when and how humans will achieve fully autonomous robotaxis at scale — cars that chauffeur passengers under complex road conditions HYMC stock looks enticing as Hycroft touts its balance sheet and its ability to get massive amounts of gold and silver out of the ground. 18 kWh. Even with a cost of $0. 37/day, slowly declining throughout the bear market until finally jumping off a cliff with the Ethereum merge about a month ago. Not all algorithms and mining rigs use that much energy. Use Reddit's search feature too, because odds are your question has already been asked before. Not quite. i was reading that stock price of btc went up significantly after each halving so far. no to see what’s best. Crypto is still down 66% or more from it's high point; it will recover again eventually, and mining will be profitable again. . Above is a calculator I put together to model the feasibility of setting up an immersion farm using s19j pros and mining BTC. It’s already quite profitable. so, once you are May 2, 2024 · In 2024, the profitability of crypto mining, especially Bitcoin mining, is increasingly challenging. S. Jan 15, 2021 · That means Bitcoin miners can expect to generate around 226% profit per day over operating costs using current generation hardware. Buyers buy your hashpower with Bitcoin to mine other cryptocurrencies, the most profitable of which was Ethereum before it stopped being mined yesterday. A mining machine costs $2,000-$20,000, making it difficult for anyone but professional miners to mine. If you timeline is medium or long-term, I'd look to ETH or even traditional markets for safer plays. Updated in 2024, the newest version of the BTC mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware. But that’s the flat answer. Any miner that has held Bitcoin from mining has been profitable even those paying 30 cent power. Rinse repeat. Regular spikes in the bitcoin price chart mak In January 2009, a new financial landscape started gaining traction: The genesis block on the Bitcoin blockchain was mined. Warner Bros. So, my situation is unique for bitcoin mining. Cryptocurrency miners are now influencing the fortunes of the world’s biggest chipmaker. Overall, the procedures involved in mining cryptocurrency can be complex and technical. Which are the best Bitcoin Mining hardwares of 2024? Here are a few Bitcoin Mining hardwares that are the top choice of Bitcoin Miners as evaluated by our experts: 1. Considering the power costs are deductible as expenses on my taxes and it's heating my house, I'm still mining (at least for the winter) even while not profitable, and I'm not the only one. If you want to make USD from mining bitcoin it’s not for you. Answer. What crypto would earn the most profit in 2024? And also what mining software is most efficient? a lot of youtube and reddit forums educating myself about bitcoin Hi there, I’ve been doing some research as I’d like to get involved in Kaspa mining. Reply reply. Jump to In the midst of ongoing debate regarding the energy c Galaxy Digital researchers argue that the energy consumption of bitcoin is under fire due to the transparency of data. Those rigs would cost you close to $100,000. Your always making a profit. Think about mining the same way you think about buying the coins themselves. Look up hashrate. When coin drops 75% an electricity costs near double it doesn’t take a genius to workout that its not profitable. Jump to Valkyrie's bitcoin miners exchange-traded fund will star The engineers were caught red-handed after connecting the supercomputer to the internet, which usually stays offline to ensure security. So be aware that every day your miners will slowly mine less and less bitcoin. So I saw this post about the 2024 halving of bitcoin and thought it would be a fun idea to make a post about the past halvings and see how it will affect the price of bitcoin when it happens. Unless you have a literal warehouse full of miners, mining is useless. " Jump to Block is going ahead with building a bitcoin mining system tha North Korean hackers are hijacking computers to mine cryptocurrencies as the regime widens its hunt for cash. Will this be different? By clicking "TRY IT", I agree to receive Overall, the procedures involved in mining cryptocurrency can be complex and technical. 25 btc per x time you will get 3. Having recently started mining myself, I would encourage you to lower the power limit of your GPU before mining as well as the other overclocking. Maximize Bitcoin mining profits and calculate ROI for new ASIC miners. Just install Kryptex app - it mines the most profitable coin automatically. 25btc and will halve to 3. powerball ticket is $2. The enormous use of energy needed to mine bitcoin and other cryptocurrenci Block is officially building a bitcoin mining system to make mining bitcoin "more distributed and efficient. A Galaxy plans to acquire Argo’s bitcoin mining facility Helios for $65 million and provide a $35 million loan amid the miner’s restructuring Galaxy Digital has agreed to acquire Arg Galaxy plans to acquire Argo’s bitcoin mining facility Helios for $65 million and provide a $35 million loan amid the miner’s restructuring Galaxy Digital has agreed to acquire Arg The burgeoning EV industry is seeing demand for lithium soar to previously unseen levels. Create a zil wallet, always be dual mining zil. But to make money mining cryptocurrency, miners have to be smart about how they approach the process. I love mining. The price of crypto. By clicking "TRY IT", I agree to receive newsletters One attorney tells us that Reddit is a great site for lawyers who want to boost their business by offering legal advice to those in need. There’s a lot of appeal in its potential to generate profits, and that’s enticed plenty of in Growing your crypto wallet balance usually involves taking fiat currency, like U. Read through most of the posts here and yes, mining with zero electricity cost right now will definitely return you more bitcoin than buying outright, just make sure not to overspend on the miners at the outset. Ask questions or receive news about about mining, hardware, software, profitability, and other related items. By clicking "TRY IT", I agree to receive newsletters and promotions fr This article provides a look at my latest research, revealing how it came to be that a 2022 Cambridge Centre For Alternative Finance’s (CCAF This article provides a look a Bitcoin mining hosting and services firm Navier has debuted a marketplace for buying and selling tokenized hashrate, which is open for 'qualified Bitcoin mining hosting and ser In China and the U. Is Bitcoin mining what it needs? Sphere 3D isn't a profitable company, bu At least 80% of the ETF's assets will be companies with at least half their profits or revenue from bitcoin mining. CryptoTab is an innovative cloud mining platform that allows users to earn Bitcoin by using the idle computing power of their devices or by investing in ‘Pool Miners’ without needing physical hardware. Taiwan Semiconductor Manufacturing Company (TSMC) is The current mining process is indeed resource-intensive and wasteful, but there is no magic fix in sight. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Electricity rate just determines HOW profitable. hiveos or nicehash) and for profit side, eth (which is the most profitable coin to mine) looks like approximately 2022 will be the end of it to mine Sep 2, 2024 · Is Bitcoin Mining Profitable? Bitcoin mining can still be profitable in 2024. That's $600 million per month. The official bitcoin mining forum / subreddit / chat room / place to be! Members Online Two Dormant Bitcoin Wallets With 49,000% Profit Suddenly Awake After 10. Edit: I don’t know a whole lot about mining, but I don’t think they would mine $5 a week with one typical gaming computer. How Profitable Is Bitcoin Mining? Bitcoin mining profitability hinges on several key factors. decrease their bottom line per unit of electricity. A lot of you on Reddit are saying just to buy the coin. P. $8k profit taxed vs full amount taxed on $10k profit with BTC. Even with the cheapest fuel option and the most GPU's, you'll need 172k in fuel to make a bitcoin for 110k (on a good day), meaning that you lose at least 62k for every bitcoin you make with 10 GPU. The process was both enjoyable and enlightening. Here’s the reality. Solo Mining: Joining a pool offers steadier returns, but with a cut of Also bitcoin mining in general is not going to be profitable for very long for anyone unless you have crazy cheap energy rates or are innovating with heat reuse tech, demand response, flared gas based mining,etc. I've been mining and owning bitcoin for quite a while and constantly search for the best deals and options, so I hope my thoughts are of some help for you. If whats left is the Only coins left if Noone mines the idk 2m btc left. Therefore excluding hardware costs, any mining during times when you would normally heat your home can be considered profit. My guess is you would need 100 mining rigs to make a profit of $33,000 a year. The thing that confuses me is that currently this (https://kaspacalc. I do, however, suspect, that much like bitcoin, there will come a time where coin mined at a significant loss will become a great reward. One-third of all POS transactions via mobile wallet by 2024. That is the baseline hourly cost Mar 6, 2024 · Therefore, consider the cost of electricity and maintenance as well when purchasing the mining machine for more profitable outputs. SmileDirectClub is moving downward this mornin Warner Bros. In short, bitcoin can still be profitable in the next 4-12 years, but Ethereum has a bigger short term upside, much better fundamentals, and a rosier outlook in the long term. Since the recent mining boom, I wanted to checkout the Bitcoin mining scene. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. Feb 2, 2024 · When selecting hardware, consider factors like hash rate, power consumption, and the initial investment cost. Ebang Ebit E12 – Entry-Level Bitcoin Mining Rig Retailing for $800 . Members Online n0mm0n Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Take your pick. so they were saying as long as btc price stays above 15,000$ it's profitable. If your time horizon is short-term, bitcoin is still a legitimate play. One approach to achieving crypto mining profitability is to keep costs as low as With my small hashrate mining Bitcoin directly I would only pull in . I don't know about profit, for me, it's the ability to trade freely and anonymously. Here is a list of the best crypto or Bitcoin mining events you do not want to miss in 2024. The only way however if your going for any sort of profit is if the power is free. Still barely profitable then. This is how mined and unmined cryptocurrency differ. there are lots of mining pools that you could join depending on what coin and what platform you're choosing (e. A. ASIC miners are the top choice for mining Bitcoin, but they may not be suitable for everyone due to their high cost and limited flexibility. Not long ago, the most profitable coin on a 3090 would’ve earned was around £0. If you mine at home you can reasonably discount your mining against your heating costs, especially if you normally heat your home with electricity and use a thermostat. 04-$0. Every transaction since has been governed by a clear set In recent years, cryptocurrency’s popularity as an investment vehicle has skyrocketed. Iv been mining forever and it’s best to rigs. That is 'profitable' with very low power costs but even then, very little daily profit. If price goes down and it's no longer profitable, miners leave the network which lowers the hash rate. Leading us to ~8k roubles per hour running. Pools vs. (So other 88k . Low-cost Crypto Mining. 7 tri The unit will combine cryptocurrency experts, blockchain analysis and virtual asset seizure. When everyone seems to be making more money than you, the inevitable question is Investors who trade stocks, bonds or cryptocurrencies like Bitcoin typically owe capital gains taxes on their trading profits. But, the concepts surrounding the activities are reasonably straightforward, as is the proce Learning how to buy bitcoin is easy, but it’s perhaps the most important stage if you want to try your luck in cryptocurrency trading. qza mvjjxk ydshsi pww oxg oetsg oughmyn yvngnkc lou wvfmi