is home bitcoining mining viable?

[linuxfan66]

Is home bitcoin mine viable at all anymore? because every single "bitcoin" you can mine i have read of requires ASICs to be viable as far as i have read.

[AlwaysFSX]

Nope, not viable unless you want to throw thousands of dollars at it and get a marginal return maybe.

[lani100]

Is home bitcoin mine viable at all anymore? because every single "bitcoin" you can mine i have read of requires ASICs to be viable as far as i have read.

 Nope you are a few years late to the game.

[mantylt]

Hobby? Sure. Profit? You are 5 years late.

[linuxfan66]

I wasnt planning on getting in, but i wanted to confirm claims made elsewhere. Mainly because i read new services launched that were easier to mine being newer.

[DoubleUx2]

I wasnt planning on getting in, but i wanted to confirm claims made elsewhere. Mainly because i read new services launched that were easier to mine being newer.

To find out if you can make a profit:

http://www.coinwarz.com/calculators/bitcoin-mining-calculator

 

Just fill in the information and it shows you when you will breakeven and how much you will earn in a certain period.

If you have really cheap power cost in your country you might be able to do something with it.

But dont forget stuff like import costs etc.

 

I tried to make some money in august 2014 just before the difficulty level raised through the roof.

I got my 2 Antminers from bitmaintech and sold them immediately making a mere €30 profit 

[linuxfan66]

That is hilarious...you made more money by not using the equipment

[DoubleUx2]

That is hilarious...you made more money by not using the equipment

Yeah I got lucky and found someone who would like to buy them.

If he bought them new he wouldve paid €600 (the bitcoins price went down) and I made him pay €750.

 

If I was going to start now here in The Netherlands using Antminers S5, I would lose $0,11 each hour. (a total of $1,000.88 in loss each year)

 

But if you were to start in the US where the power cost is quite low you would make around $0,10 each hour with a total profit off $859.75.

But the hardware costs to start are around $800 so the first year you make (if the difficulty level doesnt go up and the price of the bitcoin stays the same) $60