Is bitcoin mining profitable 2024 reddit. your talking about the spilt in coin given out to stop mining inflation? it is at 6. Not quite. Seems worth it to me, especially since OP mentioned they might just do it for fun, even if it’s not profitable. If whats left is the Only coins left if Noone mines the idk 2m btc left. Members Online n0mm0n Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. meaning one by one those miners will get shut down due to economics and things will gravitate towards equilibrium at $0. 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. Ask questions or receive news about about mining, hardware, software, profitability, and other related items. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. 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. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Please do NOT message the moderators in regards to this. The servers and buildings, etc. Learn if bitcoin mining is profitable. I learned that mining on a laptop is not efficient and that it's better to buy BTC directly with cash, which I did. Discussion of mining the cryptocurrency Ethereum. As long as you're bullish on bitcoin, it's reasonable to be bullish on mining. This mining machine retails for just $800 and you can buy it directly from the manufacturer. Then pick your primary coin to mine. Feb 2, 2024 · When selecting hardware, consider factors like hash rate, power consumption, and the initial investment cost. 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 energy is ultimately expended as heat. Bitcoin's Price: Profits fluctuate with Bitcoin's value, making earnings unpredictable. Hi there, I’ve been doing some research as I’d like to get involved in Kaspa mining. 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. As long as Bitcoin is being deposited to your account it’s profitable. Unless you have extremely cheap energy you’re better off just buying Bitcoin. A more beginner-friendly approach is to consider cloud mining. To start us off I will use the baseline 166k Metal Fuel cans with 100/100. no to see what’s best. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. Your always making a profit. 125btc. 04-$0. 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. If you want to make USD from mining bitcoin it’s not for you. Jan 1, 2024 · Leading Bitcoin mining players have highlighted the need for efficiency to remain profitable and operational after the halving in 2024. Members Online Mining difficulty is at all time highs and crypto markets are on a downtrend. . CryptoTab – Innovative Cloud Mining Platform with Flexible Mining Options. Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. Jun 17, 2024 · 8. Ethereum is no longer minable. Answer. Think about mining the same way you think about buying the coins themselves. The higher asset prices rise, the more profitable mining becomes and the less efficient miners need to be to For years the narrative that has been pushed regarding Bitcoin mining is that it’s a fool’s game, better left to the professional mining farms and big players due to shrinking profitability. I love mining. As such, it is more resistant to wild inflation and corrupt banks. The odds I posted were for the $1M prize. 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. Maximize Bitcoin mining profits and calculate ROI for new ASIC miners. By using bitcoin mining websites, such as Sohash, you can start mining in a few clicks without any expensive mining hardware and software. It can make a profit, and right now, it would. Rising energy prices and falling cryptocurrency prices has made it difficult to turn a profit mining Bitcoin (BTC). 25 btc per x time you will get 3. It’s not braindead easy like last bull run. 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. 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. I just watched a video on YouTube (voskcoin) saying it’s profitable. Reply reply. Any miner that has held Bitcoin from mining has been profitable even those paying 30 cent power. Solana cannot be mined. Sep 4, 2024 · Bitcoin mining is still profitable in 2024. 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. The process was both enjoyable and enlightening. Halving Events: Rewards are halved every four years, affecting profitability. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. 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. Mar 6, 2024 · Therefore, consider the cost of electricity and maintenance as well when purchasing the mining machine for more profitable outputs. that is 21 hours of fuel for 166k. I took the time and did the math to see if you make profit 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. Apr 12, 2022 · Bitcoin mining is the process of verifying crypto transactions on the Bitcoin blockchain and generating new bitcoins through block rewards. This guide aims to show that this is overly simplistic and narrow-minded in its view. With my small hashrate mining Bitcoin directly I would only pull in . 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. 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%. I created a similar spreadsheet to the above (after I discovered this site) and my numbers jive. Bitcoin mining takes a lot of money to set up (a lot of money for me at least), and since everyone else also has powerful PC’s bitcoin mining has become a tough place unless you invest a ton of money in it and you aren’t gonna make much back. 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. 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. But to make money mining cryptocurrency, miners have to be smart about how they approach the process. That is the baseline hourly cost That tool is a gift to us small guy-miners. For Filipinos interested in stocks, bonds, mutual funds, ETFs, forex, crypto, banking, business, insurance, and any other topic related to investing money, making money, or growing money in the Philippines. A lot of you on Reddit are saying just to buy the coin. 25btc and will halve to 3. 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. Ebang Ebit E12 – Entry-Level Bitcoin Mining Rig Retailing for $800 . Anyone can profit from mining, but it will come down to the individual running it and their initial capital investment. A mining machine costs $2,000-$20,000, making it difficult for anyone but professional miners to mine. Instead, simply buy and hold Bitcoin until your machines are profitable again (if ever), or look for a hosting site. So if some bitcoin miners stop mining bitcoin because it's no longer profitable for them, the mining difficulty will decrease and it will become more profitable to mine bitcoin. Just install Kryptex app - it mines the most profitable coin automatically. Who cares what the price is in fiat. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. (So other 88k . Therefore excluding hardware costs, any mining during times when you would normally heat your home can be considered profit. Miners can profit if the price of bitcoins exceeds the cost to mine. tldr; Bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate Bitcoin transactions. 7 Years NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Solo Mining: Joining a pool offers steadier returns, but with a cut of Crypto is still down 66% or more from it's high point; it will recover again eventually, and mining will be profitable again. Sep 2, 2024 · 2. NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. The news makes bitcoin mining and stuff sound horrible but the overall energy use is pretty similar, albeit bitcoin can be pretty energy intensive. 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. Until then, please utilize the resources in the MINING WIKI for additional useful guides and information. 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. 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. Mining Difficulty: As more miners join, it gets tougher for small-scale operations to compete. My guess is you would need 100 mining rigs to make a profit of $33,000 a year. 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. 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. powerball ticket is $2. 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. How Profitable Is Bitcoin Mining? Bitcoin mining profitability hinges on several key factors. Bitcoin {{BTC}} mining stocks fell in the first half of September as the price of the world's largest cryptocurrency remained below $60,000, and the I see inconsistency and inaccuracy in responses and it is killing me. If you are GPU mining at NiceHash you are getting paid in Bitcoin but you are not mining Bitcoin. I don't know about profit, for me, it's the ability to trade freely and anonymously. Pools vs. Members Online Mining revenue forecast 1 day ago · Mon, Sep 16, 2024, 8:06 AM 2 min read. If the time between those blocks averages out to more than ten minutes, then the mining difficulty will decrease and miners will become more profitable. -listed bitcoin miners fell in the first half of the month as the world's largest cryptocurrency loitered below $60K and the network hashrate returned to pre-halving levels, the report said. Cointelegraph contacted several mining firms to unpack the Sep 2, 2024 · Is Bitcoin Mining Profitable? Bitcoin mining can still be profitable in 2024. 9 hours ago · U. * Members Online 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. One approach to achieving crypto mining profitability is to keep costs as low as NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. If the price of bitcoin is higher than the cost of mining them, miners can make a profit. 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. The thing that confuses me is that currently this (https://kaspacalc. Difficulty is measured in the hash rate, which measures the rate of solving the problem. So be aware that every day your miners will slowly mine less and less bitcoin. Leading us to ~8k roubles per hour running. Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since 2013. 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. Use Reddit's search feature too, because odds are your question has already been asked before. Mining at a loss is never a financially good idea unless you value non-KYC Bitcoin enough to eat the loss. Someone just played a joke on you. 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. Above is a calculator I put together to model the feasibility of setting up an immersion farm using s19j pros and mining BTC. That's $600 million per month. 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. One of the best Bitcoin mining rigs for entry-level miners is the Ebang Ebit E12. Is it legit ir a scam article? Anyone? 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. Those rigs would cost you close to $100,000. 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. 07/kWh. P. Bitmain Antminer S21 The question comes up constantly and the price of the bitcoin constantly fluctuates. 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. 0118 per week, but with my "strategy" (what i thought everyone was doing) I pull in triple to quadruple that for sure. There are a few paths individuals can take to crypto mining. I work for a North American BTC mining company NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. ?) Given the fact that as today I should earn 2k/mo x 3years = 72k a negative 16k in profit after 3 years of mining. 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. Not all algorithms and mining rigs use that much energy. This means investing in powerful ASIC devices and consuming vast amounts of energy. 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…. However it’s bitcoin, and whatever you hodl grows in value. Buyers buy your hashpower with Bitcoin to mine other cryptocurrencies, the most profitable of which was Ethereum before it stopped being mined yesterday. So in 2024 its thought that instead of mining 6. "This is really the right time to start investing in cryptocurrencies because Bitcoin is still the most popular cryptocurrency. Heck, It might forever. Aug 30, 2022 · The Bitcoin mining business is similar to mining physical assets, like gold or silver. 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. Crypto mining is dead, better use that money to buy BTC, ETH. While UPS shipments are free, you’ll pay an additional $165 if you prefer DHL. " I cannot find one thing about this company. 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 Mining is going to be very profitable. But you have to actually look up what coins to mine and what settings to use. Odds for the ~1B jackpot are much much lower. 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). $5 a week is $260 a year and that’s with the assumption that Bitcoin doesn’t even go up in value. Technically yes, as unprofitable miners exit, the hash rate goes down incentivising others to enter, but if the barrier to entry is so high, it seems logical that the most of the increase in mining would come from existing operations scaling up. Create a zil wallet, always be dual mining zil. It’s already quite profitable. net) is saying my daily profit will be negative. i was reading that stock price of btc went up significantly after each halving so far. S. Low-cost Crypto Mining. This happened long before the creation of Bitcoin Cash. But to answer you question, yes halving should affect mining, it reduces the mining reward and therefore increases the price. Look up hashrate. so they were saying as long as btc price stays above 15,000$ it's profitable. buoda lgumm mxmzjrfo pnfn buwi ztrmpz xkugu fsms aibkx gnop