BTC, is it still profitable?

[SevereDevil]

so heres the thing, im in the military so i dont really pay for power(i only pay 20%) however im rarely ever home so when it comes to managing equipment i cant really do that as im gone 14days at a time once a month. since power is 10cents per killawatt and i only pay 2 cents, would i make a decent profit and could i set something up that would work for lets say 2 weeks without needing me? that way when i get home i would have a little more cash to play with... i know gpus are out but im willing to drop lets say $200-$300 on one of those hashing machines if i could come out on top within a few months. 

[christianled59]

It's not worth it honestly. Unless you need like a few extra dollars every month. 

[thekeemo]

this will tell you http://www.coinwarz.com/calculators/bitcoin-mining-calculator

[RevoltTrain]

If you do it correctly. Yes.

 

 

 

Also. Don't build a hashing machine. Go with an ASIC miner. Preferably this: http://zoomhash.com/collections/bitcoin-asics/products/antminer-s3

 

An ASIC miner will absolutely destroy and hashing machine you build.

[cloclo8003]

If you're lucky you'll get a few dollars of profit a month.

[paradonym]

If you still want to mine BTC, you have to first-time-invest multiple 1000s of USD in Hardware and Power, to have the break-even-point soon. But then the military will recognize a much warmer/more louder room and the much higher power usage...

I don't recommend using small miners as the break-even-point of them is somewhere in the lifespan of your grandchilds...

[Shroomster]

Playing with its value and selling when expensive. Yeah. But mining not so much.

[Mooshi]

Bitcoin was only really worth it if you started out when it first came to be and sold out when people were dropping 1k+ per coin. Anyone who says otherwise is fooling themselves.

[Sandvich]

Get some second hand asic miners, they are your best bet.

[RuecanOnRails]

For the incredibly cheap electric costs you do have an advantage over many other people. But that doesn't mean you will see a profit.

 

Once set up, you can for the most part set and forget with very little maintenance. As with leaving any device running unattended there are unforeseen issues which can occur up to and including potential fire hazards.

 

Never buy "used" or older generation miners. Unless heavily discounted they are too inefficient to see an ROI. A miner typically lasts only several months before it begins to costs more to run than it's worth, selling at the 5 month mark is a way to recoup additional money.

 

Mining has never been "profitable" there have been times where hardware advances outpaced the difficulty or price of the coin (causing it to increase rapidly) but will always return to being just barely viable on average global kwh cost. It's a zero sum game that scales near perfectly to the hardware on the network. When people say mining was better years ago, that's simply not true; You would have ended up with the same amount of coins buying them directly versus the money spent on hardware to mine and electric costs. What changed was the price of each coin, at which point it would have been better to buy and hold coins instead of mine them slowly over time.

 

https://bitmaintech.com/productDetail.htm?pid=000201412231604153619o9X1obn0693

[EpicAdom]

With an ASIC it can be profitable.

 

Watch this for more info http://youtu.be/JqnbtFHlOsA