how profitable is bitcoin

[rubythunder]

i live in Canada and i was thinking. why dont i get a not crap pc and get bitcoin and if i had a 1060 i thought i might be able to make more money in the time it take to mine said bitcons and tax that matters too. 

 

 

help

 

 

 

[Oshino Shinobu]

You'll lose money. With normal PC components, it will cost more in electricity than you'll make in Bitcoins. Even with specialised ASIC miners, Bitcoin isn't really profitable to mine anymore, you're several years too late for that. 

 

Another cryptocurrency may come along again like Ethereum (which is now in a similar position to Bitcoin for mining) where mining is worthwhile on normal hardware for a bit. 

[DrMacintosh]

Crypto in general is a lose lose situation unless you go full in. 

 

I've made more money from the Bing Rewards Program (over $75 over 4 years) than I ever would if I started mining with the level of components I could afford to buy. 

[79wjd]

20 minutes ago, DrMacintosh said:

I've made more money from the Bing Rewards Program (over $75 over 4 years) than I ever would if I started mining with the level of components I could afford to buy. 

That's actually a great way to make money.....if you make negative dollars per hour. 

 

/joke

[leaderroy]

I'm currently mining on a datacenter plan from Hashflare ( https://hashflare.io/r/D8458CE2 ).

I've made about 0.045 BTC since mid-March with 1TH/s.

[LogicalDrm]

LTT has video coming soon which answers this nicely. To also people less knowledgeable about the scene.

[Ithanul]

Mining Bitcoin directly with standard consumer hardware is long gone.

 

Mostly to get Bitcoin now, you mine alt coins and trade them over to Bitcoin.  In the case of miner platforms like NiceHash, you loan out your hardware's hash rate to mine other coins and are paid in Bitcoin.