Is Bitcoin mining currently profitable.?

[maddisson]

Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.1 Other cryptocurrencies have seen similar surges and dips in value. Nearly 3,000 cryptocurrencies are listed on investing, but two of the most popular alternatives to bitcoin include ethereum ($145 per coin, $15 billion market cap, as of Nov. 2019) and litecoin ($45, $2.9 billion).

While buying on an exchange like Coinbase is usually fairly simple and allows you to buy fractions of cryptocurrencies, there are those who prefer to mine their coins. The best option likely depends on individual circumstances.

After much investigations and research i have made about how to earn more profit on cryptocurrency legitimately, I will recommend forex #spam Investment Platform and cloud mining(forex #spam.io) as it has been relatively on for a while now as it was launched mid 2016 but has become the largest Cryptocurrency Investment Platform right now with a volume of over 150 million dollars where you get different ROI’s on your invested cryptocurrency after every 10 days. It supports variety of cryptocurrency like Bitcoin, Ethereum, Bitcoin Cash and Litecoin and other Altcoins.

Mining Profitability

Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.3

By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years.4 On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.5

Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it’s possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.

No matter what you decide to mine, you have to account for your setup costs, including, in some cases, graphics cards that can cost upward of $700 apiece.6 7 It’s possible to put together a basic rig for some of the less popular cryptocurrencies for around $3,000. However, some miners spend more than $10,000 on their rigs.

On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states.8 For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of November 2019, the energy costs alone don't make it worth it.1

A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable.

Cloud Mining

Cloud mining involves purchasing time on someone else’s rig.9 Companies like forex #spam investment and mining charge you based on what’s called a hash rate—basically, your processing power. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.

Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate.10 Some companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.

In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract. As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.

However, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.

The Long View

Investing in expensive equipment and spending in excess of $3,000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the $3,000 to $4,000 range.

Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust.

Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.11 Benoit Coeure, a board member with the European Central Bank, argued in January 2018 that cryptocurrencies could prove to be a good system for cross-border payments as long as there is an understanding of how to "control these gateways between the shadow-currency universe and the regular financial system."12 Less than a year later, he referred to bitcoin specifically as the "evil spawn of the financial crisis," while still acknowledging the broader potential of cryptocurrencies

[Delgboke]

Despite that bitcoin price is going down, for me I believe it's still profitable in my look of things because no matter how bitcoin price falls there's be a time the price will go up.

[Andruha1993]

I think Bitcoin mining is becoming less and less profitable. Because the number of mined coins is decreasing, and the price of electricity is rising. Therefore, I myself stopped doing this type of earnings.

[tervel]

The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.By 2019, cryptocurrency mining has become a little more complicated. With bitcoin, the reward is halved every four years.So it's not a good idea right now.

[Doctor]

Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.1 Other cryptocurrencies have seen similar surges and dips in value. Nearly 3,000 cryptocurrencies are listed on investing, but two of the most popular alternatives to bitcoin include ethereum ($145 per coin, $15 billion market cap, as of Nov. 2019) and litecoin ($45, $2.9 billion).

While buying on an exchange like Coinbase is usually fairly simple and allows you to buy fractions of cryptocurrencies, there are those who prefer to mine their coins. The best option likely depends on individual circumstances.

After much investigations and research i have made about how to earn more profit on cryptocurrency legitimately, I will recommend forex #spam Investment Platform and cloud mining(forex #spam.io) as it has been relatively on for a while now as it was launched mid 2016 but has become the largest Cryptocurrency Investment Platform right now with a volume of over 150 million dollars where you get different ROI’s on your invested cryptocurrency after every 10 days. It supports variety of cryptocurrency like Bitcoin, Ethereum, Bitcoin Cash and Litecoin and other Altcoins.

Mining Profitability

Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.3

By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years.4 On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.5

Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it’s possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.

No matter what you decide to mine, you have to account for your setup costs, including, in some cases, graphics cards that can cost upward of $700 apiece.6 7 It’s possible to put together a basic rig for some of the less popular cryptocurrencies for around $3,000. However, some miners spend more than $10,000 on their rigs.

On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states.8 For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of November 2019, the energy costs alone don't make it worth it.1

A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable.

Cloud Mining

Cloud mining involves purchasing time on someone else’s rig.9 Companies like forex #spam investment and mining charge you based on what’s called a hash rate—basically, your processing power. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.

Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate.10 Some companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.

In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract. As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.

However, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.

The Long View

Investing in expensive equipment and spending in excess of $3,000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the $3,000 to $4,000 range.

Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust.

Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.11 Benoit Coeure, a board member with the European Central Bank, argued in January 2018 that cryptocurrencies could prove to be a good system for cross-border payments as long as there is an understanding of how to "control these gateways between the shadow-currency universe and the regular financial system."12 Less than a year later, he referred to bitcoin specifically as the "evil spawn of the financial crisis," while still acknowledging the broader potential of cryptocurrencies

No,  I think Bitcoin mining is not profiable now,  because You will spend alot cost to buy mining equipment  and electricity cost.  If the price of bitcoin goes up,  I think Mining will be more profitable.  I prefer to buy bitcoin and hold,  I think It is the best way to do.

[damsix]

I don't understand mining, but I often see on YouTube that mining Bitcoin is still profitable. If the electricity costs are cheap or free, then there is still a little breath to get profit.
But if mining Bitcoin is in my country then it is very difficult because the cost of electricity in the place where I live is very expensive. This is my research!

[Malam90]

 Bitcoin mining was not profitable in the last 15-20 months as the bitcoin rate was going down. Still now it is not very profitable as the number of mining amount is decreasing and cost is increasing gradually. Besides this, there are a lot of mining firms increased.
 

[CryptoAddict]

I think it is possible to get some profit from mining if you can join any of the noteworthy mining pools.

[alltalk]

~snip~

You are right. The problem is the costs of mining. It requires quite high electricity consumption. Moreover, the price is not really stable. So, when getting the result, the price possibly is declining. It will be so hurt and waste costs only. I think it is the reality or fact.

[Malam90]

~snip~

You are right. The problem is the costs of mining. It requires quite high electricity consumption. Moreover, the price is not really stable. So, when getting the result, the price possibly is declining. It will be so hurt and waste costs only. I think it is the reality or fact.

Electricity cost is high now and Bitcoin price is also high now but price is not stable. If price becomes stable over $9000 or $10000 mining will be profitable but if it downs $6000, it will not profitable. Only miners can say as we aren't actual miners so our experience hence is primary level.

[therozaq]

Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.1 Other cryptocurrencies have seen similar surges and dips in value. Nearly 3,000 cryptocurrencies are listed on investing, but two of the most popular alternatives to bitcoin include ethereum ($145 per coin, $15 billion market cap, as of Nov. 2019) and litecoin ($45, $2.9 billion).

While buying on an exchange like Coinbase is usually fairly simple and allows you to buy fractions of cryptocurrencies, there are those who prefer to mine their coins. The best option likely depends on individual circumstances.

After much investigations and research i have made about how to earn more profit on cryptocurrency legitimately, I will recommend forex #spam Investment Platform and cloud mining(forex #spam.io) as it has been relatively on for a while now as it was launched mid 2016 but has become the largest Cryptocurrency Investment Platform right now with a volume of over 150 million dollars where you get different ROI’s on your invested cryptocurrency after every 10 days. It supports variety of cryptocurrency like Bitcoin, Ethereum, Bitcoin Cash and Litecoin and other Altcoins.

Mining Profitability

Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.3

By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years.4 On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.5

Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it’s possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.

No matter what you decide to mine, you have to account for your setup costs, including, in some cases, graphics cards that can cost upward of $700 apiece.6 7 It’s possible to put together a basic rig for some of the less popular cryptocurrencies for around $3,000. However, some miners spend more than $10,000 on their rigs.

On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states.8 For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of November 2019, the energy costs alone don't make it worth it.1

A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable.

Cloud Mining

Cloud mining involves purchasing time on someone else’s rig.9 Companies like forex #spam investment and mining charge you based on what’s called a hash rate—basically, your processing power. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.

Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate.10 Some companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.

In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract. As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.

However, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.

The Long View

Investing in expensive equipment and spending in excess of $3,000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the $3,000 to $4,000 range.

Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust.

Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.11 Benoit Coeure, a board member with the European Central Bank, argued in January 2018 that cryptocurrencies could prove to be a good system for cross-border payments as long as there is an understanding of how to "control these gateways between the shadow-currency universe and the regular financial system."12 Less than a year later, he referred to bitcoin specifically as the "evil spawn of the financial crisis," while still acknowledging the broader potential of cryptocurrencies

By seeing the  bitcoin  price now,  I think Bitcoin  mining is still profitable  to do now.  I hope bitcoin halving  will happen at this  year,  So It is agood idea to buy or do mining. Hold you bitcoin  and wait the bull market.  You will get alot profit  at this year.

[dekafee79]

Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.1 Other cryptocurrencies have seen similar surges and dips in value. Nearly 3,000 cryptocurrencies are listed on investing, but two of the most popular alternatives to bitcoin include ethereum ($145 per coin, $15 billion market cap, as of Nov. 2019) and litecoin ($45, $2.9 billion).

While buying on an exchange like Coinbase is usually fairly simple and allows you to buy fractions of cryptocurrencies, there are those who prefer to mine their coins. The best option likely depends on individual circumstances.

After much investigations and research i have made about how to earn more profit on cryptocurrency legitimately, I will recommend forex #spam Investment Platform and cloud mining(forex #spam.io) as it has been relatively on for a while now as it was launched mid 2016 but has become the largest Cryptocurrency Investment Platform right now with a volume of over 150 million dollars where you get different ROI’s on your invested cryptocurrency after every 10 days. It supports variety of cryptocurrency like Bitcoin, Ethereum, Bitcoin Cash and Litecoin and other Altcoins.

Mining Profitability

Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.3

By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years.4 On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.5

Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it’s possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.

No matter what you decide to mine, you have to account for your setup costs, including, in some cases, graphics cards that can cost upward of $700 apiece.6 7 It’s possible to put together a basic rig for some of the less popular cryptocurrencies for around $3,000. However, some miners spend more than $10,000 on their rigs.

On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins—especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states.8 For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of November 2019, the energy costs alone don't make it worth it.1

A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable.

Cloud Mining

Cloud mining involves purchasing time on someone else’s rig.9 Companies like forex #spam investment and mining charge you based on what’s called a hash rate—basically, your processing power. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.

Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate.10 Some companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.

In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract. As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.

However, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.

The Long View

Investing in expensive equipment and spending in excess of $3,000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the $3,000 to $4,000 range.

Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust.

Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.11 Benoit Coeure, a board member with the European Central Bank, argued in January 2018 that cryptocurrencies could prove to be a good system for cross-border payments as long as there is an understanding of how to "control these gateways between the shadow-currency universe and the regular financial system."12 Less than a year later, he referred to bitcoin specifically as the "evil spawn of the financial crisis," while still acknowledging the broader potential of cryptocurrencies

Butcoin mining is too expensive  to buy equipment,  electricity.  I think You shoukd buy bitcoin and invest for long term,  it is more profitable  than mining.  Many minner sold their equipment  and do trading.  Trading  is good way to get profit now.

[Latunes]

My friend still holds a mining farm. He gets several times less than before. But everything suits him. Personally, I believe that mining is not the most profitable investment. But once again, I’m happy, everything suits my friend, and he has mining farms, but I don’t.

[masudginanjar]

If you are in the country of China, which is sure to get full rights to cryptocurrency mining, then surely it will benefit you in Bitcoin mining.
As far i know China is support for mining Bitcoin .

But if you live in a country with electricity consumption that is not free, then surely you will suffer losses from the cost of Bitcoin mining electricity.

[shadowdio]

Well I never heard about negative in bitcoin mining maybe bitcoin mining is still profitable until now and it is perfect time to mine because there is bitcoin halving so the price will increasing.