Is bitcoin mining profitable in india reddit. hiveos or nicehash) and for profit side, eth (which is the most profitable coin to mine) looks like approximately 2022 will be the end of it to mine The incentive for Bitcoin miners to secure the Bitcoin network comes from block rewards and transaction fees. Mining rate depends on number of transactions per day. Nov 1, 2019 · For our calculations, we have assumed two main kinds of miners, retail and professional, with access to different efficiency devices, equipment and electricity prices. plus for me as a 3. Just upgraded my Rig, and specifically went for a CPU that was good for Monero mining (5900x). 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. Mar 27, 2024 · Overall, Bitcoin mining can be profitable, but a significant amount of hashing power is needed. Members Online cryptonicman An ASIC/mining hardware are computers designed for Bitcoin Mining. Falling S9 sales mean the global hash rate is going to go down, and so mining difficulty is going to go down Bitcoin price? Nobody knows. That tool is a gift to us small guy-miners. Unless you have extremely cheap energy you’re better off just buying Bitcoin. Bitcoin mining is still profitable in 2024. Right now (15 March 2021), there are no laws against it, you can transfer, trade, hold, mine crypto without any restrictions. Successful 51% attack on the network could pull the price down, if everyone was buying instead of mining then we would have very weak network and surely I wouldn't hodl my wealth So I'm being asked by someone almost every day about the details and legal issues regarding crypto mining in India. The cons of bitcoin mining are that it's expensive, takes up a lot of energy Your always making a profit. Don’t know enough about mining pools to know if you would be profitable joining one. Study the movements of bitcoin. Reddit; QUESTIONS? Customer Support Is Bitcoin Mining Still Profitable? The profitability of Bitcoin mining depends on various factors, including mining equipment efficiency, electricity costs, and Bitcoin price. 50w on the wall for a laptop for extra 1. Active Mining. You’ll need to connect your ASIC to your mining pool. A community focused towards discussion of Bitcoin in India. Plug your wallet into your pool’s website and after about 20 minutes, you should see a hashrate to know you are connected and mining. Ask questions or receive news about about mining, hardware, software, profitability, and other related items. Miners like Compass are being accused of failing to pay electricity bills. 7 Years No mention of difficulty adjustment either. The concept of bitcoin is very appealing for me and i think this is the future. 18 kWh. The pros of bitcoin mining are the potential earnings. In most cases these are sold in bitcoin only. Just made like 15 $ with months of mining,was only for fun because I already have some solar panel and some pc but if you have to pay energy there's no point in my country (maybe if you live in a country with low energy price) to do that,you'll pay so more the electricity bill that what you get (offcourse in the actual price of monero). Members Online Mining difficulty is at all time highs and crypto markets are on a downtrend. Bitcoin is a global decentralized digital currency which can be used like the Indian Rupees for paying towards Goods and Services and can be used as a medium of exchange with no central party like banks serving as the middleman for the payment transactions. 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. 5kWp with 1. For Bitcoin enthusiasts, this promotes the financial inclusion, innovation and democratization the coin espouses. Jul 1, 2022 · Bitcoin’s bear market has put intense stress on mining profitability. Now, let's assume transaction fees are low and the price of bitcoin is also low. Mar 6, 2024 · Therefore, consider the cost of electricity and maintenance as well when purchasing the mining machine for more profitable outputs. This was the plan all along. Those rigs would cost you close to $100,000. 290w on the wall, 16 cents / kw and I’m getting 14 KH/s, stock settings in BIOS. Tickets for the NiceHashX Bitcoin Conference are going fast — claim yours now before they sell Start mining in less than 60 seconds and earn money with your PC The official bitcoin mining forum / subreddit / chat room / place to be! If it wasn’t profitable I wouldn’t be mining anymore and if that happened I would 3 days ago · 2. So, Bitcoin's price doesn't automatically change the price of a mining rig. Gpu mining is still profitable and getting better over time, depending on what coin you want to mine and the electricity cost in your region. 07 per kilowatt-hour (kWh) is poised to net an estimated $14. All I know is that you would be competing your computing power against large mining farms. It is multi-rig SHA256 coin in that ASIC get 80% to 90% of blocks, CPU mi Bitcoin mining difficulty is going up a lot and only getting harder and harder to be profitable. 10/kwh for electricity, it would take nearly 12 months to recoup my original investment in a single ASIC miner and that doesn't even include adjusting for difficulty increases, which pushes it out further to 18-22 months (breakeven). 3k/yr) at the moment mining Zephyr. It's definitely profitable, but that's if you're careful. When we are near bitcoin halfing or in bullrun the transactions per day increase rapidly and so does your gas fees. is bitcoin mining profitable in the Philippines? Yes, it’s still possible in today’s world. there are lots of mining pools that you could join depending on what coin and what platform you're choosing (e. Any miner that’s not profitable now, either has a long term plan and it’s worth turning the machines off for a bit, or they had a very limited understanding of bitcoin in the first place. This happened long before the creation of Bitcoin Cash. Bitcoin is a global decentralized digital… NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Think about mining the same way you think about buying the coins themselves. the whole idea was to let you think how much AISCs do you need to mine 1 bitcoin the profitability chart varies according to the difficulty adjustment increase or decrease there is no specific amount on how much asics do you need to mine bitcoin. Where or How do I exactly build those mining rigs? Discussion of mining the cryptocurrency Ethereum. It is too late for casual bitcoin mining. Above you can see current approximate profitability for 6x AMD RX 6800XT with electricity price of $0. 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. . Answer. Mods are active, so please make sure to read the rules before posting. you have very high power costs, while you could make money on 570 8GB cards you will start losing money mining much sooner then many others when earnings drop which they likely will before you earn back the purchase price. As long as Bitcoin is being deposited to your account it’s profitable. In order to be profitable in 3 years I will be forced to buy new hardware and scrap the old one. Which Bitcoin miner Is most profitable? It seems that Bitcoin mining machines from BitWats are poised to be the most profitable mining rigs. Check out r/bitcoinmarkets. As such, it is more resistant to wild inflation and corrupt banks. 117K subscribers in the BitcoinIndia community. That's $600 million per month. So over time the incentive for Bitcoin miners to secure the Bitcoin network transitions from block rewards to transaction fees. 92K subscribers in the BitcoinMining community. The profitability of Bitcoin mining comes down to hardware acquisition and running costs; most modern miners are currently net positive in terms of daily yields. 14 US India has banned/applied high duty on imported machinery for mining and that makes it almost impossible to profit off in India. The lower the electricity price, the better the profits. The right approach is to only sell enough to pay your electricity bill and hold the remaining until you get a good price. I would like to invest in bitcoin for a longer period of time. 7 KH/s This is highy unprofitable. Its a nice gateway into the world of mining. What is the cheapest recommended miner I can get started with while being profitable? 47K subscribers in the cryptomining community. 5 Th/s but consume only 200W. Bitcoin mining is a free market in itself where the most profitable miners find the cheapest energy sources. Crypto 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. It is essential for […] I've been looking into the history of mining profitability using a chart I couldn't find a time where you could make more than $5 a day using regular laptops. Which currency to mine depends on the equipment you have. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. 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. I am looking for suggestions to start Bitcoin mining while its is halved in less than 20 days ? Is Bitcoin mining Profitable in India with ASIC miners with average electricity rate ? ( I know that GPU/CPU mining is just waste of time). Mar 15, 2024 · In the following table, you can examine different scenarios that include different Bitcoin prices and electricity costs so you can conclude for yourself whether Bitcoin mining is profitable for you. And On June 21, when bitcoin was trading close to $20,000, major mining company Bitfarm sold $82 million worth of bitcoin to bolster its balance sheet. Mostly it was around a dollar or even less. 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. 34 Dude, google “Bitcoin ASICs”. The Mt Gox attack was not on Bitcoin. It’s always easy to say investing in it is a good idea when the commodity is constantly on rise, but there is always going to be an inherent risk. Unfortunately, my electric rate quite high at $0. I don’t know. You will never make a profit. with these hardware you will have enough hashrate to get some bitcoins. If you want to make USD from mining bitcoin it’s not for you. Profit; Hour 0. If you have Bitcoin in a wallet whose private keys are maintained by you, there is absolutely zero evidence to suggest that it is in any manner unsafe. It'd be 100% profit Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. CryptoTab – Innovative Cloud Mining Platform with Flexible Mining Options. I also have an idle space in Tagaytay to have it operate there. Difficulty is measured in the hash rate, which measures the rate of solving the problem. Join our community of over 1,700,000 Screenwriters! From beginners to professionals, we come together to teach, learn, and share everything about screenwriting for film and television. So speaking from personal experience, Its easier to get capital investment when you are building a computer services company then a "Mining" company. On the one hand, it seems profitable, with a minimum cost of investment. Your mining pool will tell you what to put into the software so that you can connect to the pool. Typically, the first group is located in Europe or the United States and uses commodity mining devices such as the Ant Miner S9, probably the most common device ever used, and consumes electricity at an average price of 0. This may change in the future but for the present time, this is still very much profitable. Mining in India has been on a steady decline since the beginning of the bear market. Jan 30, 2023 · Bitcoin mining is still profitable, and mining crypto might be worth it — but equipment and energy costs are expensive. Crypto As long as you're bullish on bitcoin, it's reasonable to be bullish on mining. It offers peer-to-peer money transfer, bitcoin and stock exchange, bitcoin on-chain and lightning wallet, personalised debit card, savings account, short term lending and other services. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. Any miner that has held Bitcoin from mining has been profitable even those paying 30 cent power. Any Suggestions in Setup of Bitcoin mining room ? r/cryptomining r/CryptoMiningSetups r/CryptoMiningTalk r 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. See full list on forbes. The combination of rising energy prices and falling cryptocurrency prices has made it much more difficult to turn a profit mining Bitcoin (BTC). For the purposes of this examination, we are going to use the estimated profitability potential of the Bitmain Antminer S19j Pro+, the top-ranking Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. No. Of course, the profit margin depends on the electricity price you are paying. 12 over a full day at prevailing BTC rates. The block reward gets reduced by 50% every 210,000 blocks solved, which is approximately every 4 years. But these hardwares are not cheap. 01 BTC in a decade with a laptop. We would like to show you a description here but the site won’t allow us. Usually the hardware is priced in USD. 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. 1Th per 24 hours = 400 sat, and if I tune that miner down I can get almost exactly 1Th/s per whole day (only 60W consumption). I’m talking out my ass. Bitcoin is highly volatile. Any comments from you folks? ps. Apr 20, 2023 · Summary: Is bitcoin mining profitable? Bitcoin mining can be profitable if you invest in the right tools and join a bitcoin mining pool, but there are a lot of variables and a high profit isn’t at all guaranteed. Aug 6, 2023 · Is Bitcoin mining profitable? Aside from the choice of hardware, an individual miner’s profit and revenue depend strongly on market conditions and the presence of other miners. So no, not “instead of”. Same as last time. Bitmain Antminer S21 Feb 23, 2022 · Is mining cryptocurrencies currently profitable? Yes, mining is profitable in early 2022. Otherwise, it couldn’t be profitable. May 18, 2023 · Pros of Bitcoin Mining: Cons of Bitcoin Mining: Contributes to Bitcoin’s growth and stability. May 4, 2021 · Any serious bitcoin mining farm now consists of ASICs. Bitcoin has never been hacked. 000000 0. You are not mining bitcoin, you are selling processing power. So only if BTC goes bananas I will be profitable? So mining is almost the same if not worse than hodling? Sep 8, 2022 · Bitcoin mining requires heavy investments and isn’t profitable anymore,” said Abhinash. I believe that this method removes almost all risks. Save the edited text so your wallet and worker name is in place and double click the application and it should start mining. Calculate Bitcoin (BTC) mining profitability in realtime based on hashrate, power consumption and electricity cost. 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 bottom line here is to rent a mining rig that'll allow you to mine any coin. Who cares what the price is in fiat. Any Suggestions in Setup of Bitcoin mining room ? r/cryptomining r/CryptoMiningSetups r/CryptoMiningTalk r tldr; Bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate Bitcoin transactions. Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. During bull Business, Economics, and Finance. ?) Given the fact that as today I should earn 2k/mo x 3years = 72k a negative 16k in profit after 3 years of mining. It has randomSpike on top of SHA256 to restrict big ASICs. 1h for gaming, 23 for mining and torrents. If this May 31, 2024 · Introduction Cryptocurrency mining, including Bitcoin mining, has been gaining significant popularity in India in recent years, with crypto mining being legal in India. Expand user menu Open settings menu. Where as if the transactions are less the incentive you earn are also less. Yes. Ethermine Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. 15kw/day at the wall all in mining Zephyr and gives about 17k hashes/sec RandomX wise Say you could run 8 of those You could make $9/day ($3. How profitable it is really depends on when you sell. 15. Those who say this probably never even got into mining or never had anything more than 5 gpus. I'm mining with solar and it is fun project but not very profitable. This sub (r/cashapp) is for discussions regarding Cash App. get a medal detector and start walking around, you all got big ass gold nuggets just sitting on the ground in some places there. And profitability also depends on your current electricity rate and other factors as well. This means investing in powerful ASIC devices and consuming vast amounts of energy. And I did the math and saw that they are not profitable either. We're in one of those periods now. Jan 15, 2021 · The Bitcoin hash rate has increased by more than 41% in the past year, reaching its highest ever value in January 2021—leaving smaller Bitcoin miners at a disadvantage. Future profit for a new S9 depends on the Bitcoin price and the mining difficulty. 1 AMD Ryzen rig (the most efficient in my research in terms of kilowatt-in-profit-out between CPU/GPU/ASIC/various algorithms) pulls about 3. The year 2023, BTC witnessed a recovery after a I had to mine for 5000 days to get any bitcoin. You get a guaranteed return vs speculative. Mining can be fun and interesting and educational, but a newbie should not expect to make a profit. 000006 $0. My guess is you would need 100 mining rigs to make a profit of $33,000 a year. Bitcoin and Kaspa Mining Profitability Swell as Miners Eye Lucrative Returns Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. g. However, any expectations of digital riches Due to efficiency concerns, many miners are upgrading to the latest mining rigs in anticipation of the upcoming Bitcoin halving. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. They are going to verify blocks a lot faster than you. 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. Out of three, the one with the lowest price, at $5,000, reportedly has 360 TH/s at 550W power consumption. Anyone can profit from mining, but it will come down to the individual running it and their initial capital investment. Miners can profit if the price of bitcoins exceeds the cost to mine. Indeed, the break-even price for operating an S19 miner is expected to exceed $50,000 after the halving event. Antminer S9 would be losing money for example. Also, you do not need to purchase additional equipment or waste valuable time. May 21, 2024 · Bitcoin mining is still profitable if you have a capable system, join a mining pool, and can pay off your fixed expenses in a reasonable amount of time. A mining device capable of 200 terahash per second (TH/s) with electricity expenses at $0. The official bitcoin mining forum / subreddit / chat room / place to be! I am looking for suggestions to start Bitcoin mining while its is halved in less than 20 days ? Is Bitcoin mining Profitable in India with ASIC miners with average electricity rate ? ( I know that GPU/CPU mining is just waste of time). A more beginner-friendly approach is to consider cloud mining. Step 3: Get a bitcoin Mining energy is ultimately expended as heat. Therefore excluding hardware costs, any mining during times when you would normally heat your home can be considered profit. Cost of mining rig + electricity > profit from transaction fees and newly mined bitcoin. Consumes a large amount of When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. Most people get into bitcoin when its value is super high and bloated due to media hype, and that's completely understandable. The factors above will determine the time in which you generate your ROI. Understand that some machines may never ROI unless they have no issues over the course of the next 3-4 years which is currently the predicted ROI timeline for I see inconsistency and inaccuracy in responses and it is killing me. This increases miners earning. ASIC miners are high end expensive equipment. Even with a cost of $0. Jul 14, 2021 · The COVID-19 pandemic and resulting lockdowns have changed the way the world works in many ways, including accelerating a digital revolution that has, among other things, shone the light on cryptocurrencies, such as Bitcoin and Ethereum. If price goes down and it's no longer profitable, miners leave the network which lowers the hash rate. Business, Economics, and Finance. I don't know of any legitimate company that will rent you a miner. 5 years in the crypto space my mentality changed too' I am mining and never stoping my asics even during the bear market because Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. And also look at this comparison of how profitable certain machines are. So if miners were profit able 8 months ago should be now. Is Bitcoin Mining Profitable In The Philippines: TakeAway. Mt Gox is just an exchange where people store Bitcoin in wallets to trade. Step 2: Get mining software. 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. As of 2024, Bitcoin mining can still be profitable for those with access to low-cost electricity and efficient mining equipment. But it is not dead. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. 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. 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. I have small instalation of 0. The latest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate Bitcoin mining profits by adjusting the mining hashrate values or by selecting one of the Bitcoin mining hardware devices from the ASIC Bitcoin miners list. A mining machine costs $2,000-$20,000, making it difficult for anyone but professional miners to mine. While you may get discounts, your profit won't be exponential. I also bought small miner (futurebit apollo btc) which can make only ±3. 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. 4kW LiFePo4 battery. I created a similar spreadsheet to the above (after I discovered this site) and my numbers jive. 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). They operate because they can profit from it. It's a gamble Lmao dont listen to people saying gpu mining is dead. If you're converting from Bitcoin to USD, you could argue the opposite is true (one Bitcoin gets you two Antminers today with some change left over). Hi folks, any crypto/BTC Miners here? Was wondering if profitable ba to do it here in the Philippines? Willing to throw 1m naman to have the proper equipment and stuff. Hello Guys! I am a little bit new to bitcoin mining. You earn the cryptocurrency that you mine. USB ASIC on SHA256 is pretty much not profitable on almost all SHA256 coins including bitcoin. bitcoin mining hardware: not profitable. More than it will ever mine. You will never make anything close to a profit mining with a laptop, and you might never generate even 0. (So other 88k . I've been looking to start BTC mining, but the numbers just don't seem to work. Becoming a miner, be it alone or as part of a group, helps ensure the longevity of the Bitcoin blockchain. Also about how to deal with cashing it out. 000006 0. Once all of the above is setup, you are good to go. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Same as next time. Log In / Sign Up; Advertise on Reddit Miners get two types of rewards for their work: newly mined bitcoin and transaction fees for facilitating transactions. You can try Cheetahcoin (CHTA), which is new type of SHA256. Mining. I am more or less an investor who is looking for a profitable investment. com May 6, 2024 · Key Takeaways. Since the recent mining boom, I wanted to checkout the Bitcoin mining scene. Banks will work with you and you have less legal headaches. * Members Online So mining even when less profitable than buying coins directly can have bigger gains in long term but this must be seen in a big picture, not on a single case basis. Mining software allows you to connect your miner to the Bitcoin network. Follow them for a bit. With the rise of digital currencies like Bitcoin and Ethereum, more and more people are getting involved in mining activities to earn profits and support the blockchain network. drwhjjs etnlt hfei tweq zgctif qaxqnw ldnqhb moksk uhee hdmhyh