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RE: There's a Bitcoin GOLD RUSH Going on - How to PROFIT Big from BITCOIN
Kinda easier just to buy Bitcoin, the higher the price of Bitcoin the more mining power will come online and the difficulty will make it not profitable in 3-4 months is my guess.
Sounds like a bad guess to me, considering that people were mining bitcoins since 2009, and it is STILL QUITE profitable, even though the price already skyrocketed. Why didn't it stop being profitable in 2010, or 2011, or 2012, etc. ????
It has generally always been smarter to buy Bitcoins than try and mine yourself. I mined on and off since 2013, buying was always smarter.
How is it smarter to pay $17000 for one bitcoin when you can mine one in a year with a $4000 mining rig or with a $2100 cloud contract?
A 1 bitcoin investment in a contract a year and a half ago yielded 0.2 bitcoin in that year and a half. Difficulty is astronomical. Only high capacity miners in low power cost areas and the guys running the pools are profitable. Bitcoin is not for casual miners. Stick to memory hard GPU mining like Ethereum, Dash or BTG.
That's a LIE. Bitcoin didn't skyrocket in price until this year. Now things are different, i.e. MUCH more profitable. In 2016 bitcoin only TRIPLED in value, but this year it multiplied 20 TIMES in value.
In 2016 mining difficulty increased only 3 TIMES, while the price also increased 3 times. That means that a $2100 investment in a 14TH contract would give you about $25,000 profit per year. Of course back then mining rigs were much less efficient than they are now, so a 14TH contract probably cost a lot more than today.
It'll definitely cost a lot more later on in the future, the rich will get richer.
Is Dash easy to mine?
You're crazy. It's NEVER been as profitable to mine bitcoin as it is now. The new mining rigs produce 14TH/s and you can buy online 1Th for $150 a year. If you plug that into a bitcoin calculator you'll see that 14TH will cost you $2100 a year and earn/mine you almost ONE bitcoin a year. AT THE CURRENT mining difficulty.
Good Question. I was told not to listen to those that say mining is a waist of money.
BTW, the bitcoin mining difficulty has increased about 5 TIMES in the last year, while bitcoin price has increased 20 TIMES. Which makes it 4 times MORE profitable to mine bitcoin TODAY than it was a year ago.
I mean, where do you think those high transactions fees go, if not to MINERS?
What you dont have money to buy the full one? Renting can be an option thats what I think bit the only problem is that buying a full one will be more expensive because of electricity , mainteinance and so on.
freebitco.in/?r=8869745
Hey, wanted to let you know where to get some free Bitcoin.
It's a Bitcoin lottery and you can win up to $200 every hour, there's also jackpot drawing of $500 every week!
You can also mine BTC and they have a gambling section if that's your kind of thing.
Hope this can help you get a little extra in your wallet.
Good luck!
Totally agree. Buying bitcoin is better than mining. Let's say purchasing mining equipment, the profit could be calculated via https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4.730&HashingUnit=TH%2Fs&PowerConsumption=1200&CostPerkWh=0.12 the profit for a month even couldn't compare the bitcoin price change in an hour. People already miss the gold mining age.