Hey, I'm a bit of a newbie here. Is it still feasible to make some bitcoin through mining?
Getting into mining
19 replies 131 views
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#2Mar 30, 2022, 05:13 AM
yes you can earn btc
no you as can not earn btc as cheaply as it is to buy it. most every where in the world.
First question to you is your power cost cheap (under 10 cents a watt)
second question to you is do you need a space heater?
If you need a space heater and your power cost is cheap you can buy a 1 board modded s19 xp miner
Maybe 600 bucks it mines 35 th or $1.75 a day
since you need a space heater you do not mind the power it burns.
here is a gui. Screen shot 35th 800 watts
here is the unit
power use is 760 watts
a bit lower than the gui read of 800 watts.
this is on a faster setting
you could do as low as 400 watts and 17th, but only if either A or B is true is it worth while
A) power is free
B) you use a space heater a lot
Bitcoin.
Easy to buy, harder to mine.
As a newbie you are, to mine Bitcoin it depends on two things.
1. Your electricity must be very cheap.
2. Your pocket must be heavy.
It costs a lot to mine Bitcoin in 2025 and its only getting started, mining isn't for many people anymore, there are also some things that can happen after you get everything running.
A hardware part can die on you, how long your equipment will last will always remain a misery.
I will choose to buy and hold or else I really want to mine as a hobbist, the past you was a miner? If no I recommend you think this through very carefully.
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#4Mar 30, 2022, 12:51 PM
Well I do not think anyone can go big and make good money anymore.
You can go small and if you need a space heater it is okay to do.
Avalon Mini 3
https://www.ebay.com/sch/i.html?_nkw=avalon+mini+3&_sacat=0&_from=R40&_udlo=800&_udhi=1%2C500&rt=nc&LH_PrefLoc=1
Now you will not get rich on it.
My units you will not get rich on them.
or real small
https://altairtech.io/product/bitaxe/
but to think you can buy a container and fill it with 100 miners and play with the big boys nope I would advise against it.
satoshi_chainMember
Posts: 5 · Reputation: 123
#5Apr 1, 2022, 03:28 PM
wow you mod that miner?is possible to start mining BTC hashboard by hashboard?
vault_nodeFull Member
Posts: 174 · Reputation: 666
#6Apr 1, 2022, 09:36 PM
If you are living in a country that has warm ambient temperature and high power costs then mining bitcoin will only be a hobbyist thing, not something to earn from.
You might be able to mine some altcoins and sell them on exchanges, but good luck trying to ROI there - its a different sort of rat race.
It is much easier to just buy bitcoin and hold it to sell in future, but prices are on higher side right now.
The market is very unfair for normal human beings. Companies like BitFury pay as low as 3 cents in Kwh and also have tax-free zone, import miners without paying taxes and also pay zero tax in profits. If you have someone in the government, you'll be able to do that. Some people mine in places where electricity is free but you need someone from the government for that.
If you don't have access to free or very cheap electricity rates, then my suggestion to you is to not mine or only mine when Bitmain realises an asic miner for a coin that didn't have an asic before.
Easy to buy <-- Do you mean Bitcoin or mining equipment? I find buying of mining equipment very hard, I could never risk buying an Antminer from Bitmain from China cause I'm so afraid to receive a damaged miner. If any of them is damaged and I have to any of them back, the postal service in my country is so expensive that I'll pay the price of a mining equipment in shipment. That's why I have been sticking with GPU in the past, I'm sure Nvidia and AMD will give me a quality product.
ninja_orbitMember
Posts: 24 · Reputation: 107
#8Apr 4, 2022, 07:14 AM
What you mean by saying is that where there is high inflation, the price of Bitcoin will not be affected, which is why we should not invest in it there. But I would like to say that if we invest in Bitcoin from there and go to another country, we can benefit a lot. Where Bitcoin is not affecting, what will these coins do, while they are moving due to the good growth of Bitcoin. This is very easy to understand because its purpose is only leading us towards inflation and low growth of Bitcoin. While it is true to some extent that Bitcoin will go up and set new records.
I would like to know how you attached the picture?
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#10Apr 4, 2022, 01:04 PM
sure talking.com
https://www.talkimg.com/
just drag your img into upload it then hit copy and put the copy here.
[ img ] https : // www . talkimg . com /images/2025/06/19/UuZugC.jpeg [ / img ]
I disabled it so you can see it.
I gave you a merit keep posting you will get to post images.
just_bridgeSenior Member
Posts: 160 · Reputation: 1146
#11Apr 4, 2022, 03:18 PM
I really wish this newbie elenafen07, returned to the forum to tell us if this was helpful. He asked a very curious question and gotten a comprehensive reply from Philippa unfortunately he hasn't been online since a month now. I hope he returns to share his progress if he went to to start mining. I am looking forward to it.
I "just" got into Bitcoin this year and also started to mine some BTC due to 3 points:
1. I wanted to learn more about BTC and how it works and also get into it the practical way
2. I do have a PV setup on my roof and therefore some free energy to spare
3. Our electricity supplier plans on taking fees for selling them the "green energy" from my PV setup so I searched for a way to "burn" the energy myself in a meaningful way
ad 1.
I got a Antminer S9 for 100 and started to play around with home automation to switch it on/off depending on the energy produced.
ad 3.
That's the main reason I eventually bought a Avalon Q miner. The prices I get paid for my PV energy are dwindling anyway and with the additional network fees in the making there's no point in selling the energy.
Although the integration of the Avalon Q into my home automation looks rather difficult atm (due to the lack of SSH functionality).
I won't get rich with it, but I'm working into my own pockets instead the electricity suppliers pockets.
Very expensive for this old junk. In Russia they cost 20-40 dollars depending on the condition. Usually they are sold in batches.
quantumnovaMember
Posts: 1 · Reputation: 118
#14Apr 6, 2022, 05:58 AM
I haven seen a guy how was mining on old smartphones, any opinion on this? Is it worth it?
degen_nonceFull Member
Posts: 134 · Reputation: 434
#15Apr 6, 2022, 06:21 PM
The hardware is too weak to generate meaningful profits, often earning less than the cost of electricity
It was not Bitcoin mining. It can be a click mining such coins as Blum, but there are a lot of participants and small awards.
If you have no way to attract an audience, then the profit is small.
vault_nodeFull Member
Posts: 174 · Reputation: 666
#17Apr 8, 2022, 01:47 AM
This is a gimmicky system that is run by some shitcoins. The ones that I still remember did this back in the ICO craze was Electroneum, which is worth 0.002$ now and back then in 2016-18 it was going crazy among chatrooms and trollboxes.
This was a nice scam they pulled and managed to get good amount of investor money and eventually they sold and made a lot of money leaving the investors hanging.
Do not go for such coins, the trick is old but they will disguise it in the form of some new coin and run the same scam.
And what the date on that vid?
Even as a 'just because ya can' experiment that has not been possible for over 10 years.
mark.chainFull Member
Posts: 40 · Reputation: 315
#19Apr 9, 2022, 04:32 AM
Frankly, it is much more difficult nowadays to Mine Bitcoin as it has to be done with costly hardware and taking large amounts of electricity. To the majority of people, solo mining is no longer really profitable except with a large scale-out. Nevertheless, you can earn small sums by getting into mining pools or through the services of cloud mining, but you must beware of hoaxes. As a new person, I would probably begin by researching more about Bitcoin and see what other alternatives are such as faucet mining or trading before going down the mining path.
Where do you think a newbie will get at least 10-20 kilowatts of power at a good price?
This is all good in theory, but when you start mining in practice, you have a lot of problems, because mining is usually not entirely legal.
Related topics
- Check Out Our Unique VR Tour of a Bitcoin Mine | Meet Verakari Mining 0
- Have you thought about getting compensation from your miner hosting service? 3
- mining info on bitcoin.org needs an update 3
- Eco-Friendly Mining: Exploring Solar-Powered Bitcoin Opportunities 9
- Need some guidance for my thesis on Bitcoin mining 14
- Best spots for my mining rigs? 19