Honestly to me its not worth it anymore to mine bitcoin, unless you have alot of money to spend on manyyyyy ASICs. At this point I find mining Bitcoin through cloud mining to be alot easier for me, which is what I am doing now. I did come across this nice article that breaks down some information on the ant miner. https://bitcoinworldwide.com/mining/hardware/antminer-s9/
Doing the price calculator for me and given the KW/H I pay where I live its not worth it for me. Unless you have extremely cheap electric it will eat away at your profits in the end.
Yeah I looked into it a little bit but you would need almost 12 miners to actually mine a bitcoin and make some profit. 12 miners though...that's an investment not to mention what you said about the utilities price would almost drown your profits in the first year.
Hmm I keep hearing mixed reviews about cloud mining though so it makes me nervous about jumping in.
I hear ya man, I was and always will be skeptical of alot of things in cryptoland. But you know what they say. Scared money dont make money! I decided to pull the trigger on cloud mining not long ago and I love it so far. Its mindless really. If you have the extra money to invest that is it can totally be worth it. Lets say you take that $2100 you wanted to spend on an ant miner and buy a contract with it. For bitcoin mining you could get roughly 15 TH and pay 0 electricity costs. That would yield roughly $13 per day and about 5k per year. But you do have to factor in difficulty rises. But anyway yeah not all cloud mining sites are a scam. Genesis Mining is one of the most well known cloud mining sites and have been paying people for years.
If your interested use my link https://www.genesis-mining.com/a/788835 and when your ready to upgrade let me know and use my code XVlSM7 which will save you 3%. Ill return the favor by using your code on my next upgrade! Happy mining man!
Yeah that's true but the difficulty after a couple weeks exponentially rises. Or at least that's what I got from the posts I read.
Will do! If I grow a pair and jump in I'll for sure let you know haha
Honestly to me its not worth it anymore to mine bitcoin, unless you have alot of money to spend on manyyyyy ASICs. At this point I find mining Bitcoin through cloud mining to be alot easier for me, which is what I am doing now. I did come across this nice article that breaks down some information on the ant miner.
https://bitcoinworldwide.com/mining/hardware/antminer-s9/
Doing the price calculator for me and given the KW/H I pay where I live its not worth it for me. Unless you have extremely cheap electric it will eat away at your profits in the end.
Yeah I looked into it a little bit but you would need almost 12 miners to actually mine a bitcoin and make some profit. 12 miners though...that's an investment not to mention what you said about the utilities price would almost drown your profits in the first year.
Hmm I keep hearing mixed reviews about cloud mining though so it makes me nervous about jumping in.
I hear ya man, I was and always will be skeptical of alot of things in cryptoland. But you know what they say. Scared money dont make money! I decided to pull the trigger on cloud mining not long ago and I love it so far. Its mindless really. If you have the extra money to invest that is it can totally be worth it. Lets say you take that $2100 you wanted to spend on an ant miner and buy a contract with it. For bitcoin mining you could get roughly 15 TH and pay 0 electricity costs. That would yield roughly $13 per day and about 5k per year. But you do have to factor in difficulty rises. But anyway yeah not all cloud mining sites are a scam. Genesis Mining is one of the most well known cloud mining sites and have been paying people for years.
If your interested use my link https://www.genesis-mining.com/a/788835 and when your ready to upgrade let me know and use my code XVlSM7 which will save you 3%. Ill return the favor by using your code on my next upgrade! Happy mining man!
Yeah that's true but the difficulty after a couple weeks exponentially rises. Or at least that's what I got from the posts I read.
Will do! If I grow a pair and jump in I'll for sure let you know haha