Bitcoin Mining 2016

Thor

Thor

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I hope this is the right place.

Does anyone here mine bitcoins?

Is it profitable provided I have free/subsidized electricity.

How would one go about it.

What would the start up costs be to do it profitably.
 
Thor187 said:
Are they, are they really?

How would one go about it.

What would the start up costs be to do it profitably.
Click to expand...

You would need a GPU farm of note. 100 000 to 150 000 would be a good place to start, seeing returns on your money will be slow with electricity costs to run and cool your setup will be high.
 
Deadmanza said:
You would need a GPU farm of note. 100 000 to 150 000 would be a good place to start, seeing returns on your money will be slow with electricity costs to run and cool your setup will be high.
Click to expand...

GPU mining is pretty obsolete, you can use ASIC miners. But you'd still need a farm.
 
Hash difficulty will increase with 50% hence the rewards will be less, around 10 July.

I'm currently mining, not personally but in a cloudmining setup as you don't need to pay for electricity nor the actual miner.

Profitably, i would rather use the capital and go cloud :)
 
Thor187 said:
Are they, are they really?

How would one go about it.

What would the start up costs be to do it profitably.
Click to expand...

Yes they are really, really they are.

You would buy a ASIC miner, I'd say about 1,000 would be a good number to start with. You'd need to connect them up to a massive net hub system and then you'd need to run them 24/7.

https://www.amazon.com/Antminer-~4-...irect=true&ref_=as_li_ss_tl&tag=weusecoins-20

Is a good one to start with, get couple hundred of those and you're good to go.
 
Seems like it's cheaper and easier to buy shares.
 
semaphore said:
Yes they are really, really they are.

You would buy a ASIC miner, I'd say about 1,000 would be a good number to start with. You'd need to connect them up to a massive net hub system and then you'd need to run them 24/7.

https://www.amazon.com/Antminer-~4-...irect=true&ref_=as_li_ss_tl&tag=weusecoins-20

Is a good one to start with, get couple hundred of those and you're good to go.
Click to expand...

Fck. I was willing to get 20 ant miners. Did NOT know you need hundreds. Well fck seems we missed the bitcoin boat?
 
semaphore said:
Yes they are really, really they are.

You would buy a ASIC miner, I'd say about 1,000 would be a good number to start with. You'd need to connect them up to a massive net hub system and then you'd need to run them 24/7.

https://www.amazon.com/Antminer-~4-...irect=true&ref_=as_li_ss_tl&tag=weusecoins-20

Is a good one to start with, get couple hundred of those and you're good to go.
Click to expand...

Maybe your numbers are wrong. If I buy 10 at around R50K I will make that back within 2 months

2016-06-23_11-40-35.jpg
 
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