Is Mining BTC Worth the Effort?

5 replies 103 views
paul1337Full Member
Posts: 59 · Reputation: 464
#1Sep 12, 2017, 05:11 AM
I'm thinking about getting a gaming desktop that has a hash rate of 114.5 MH/s. Since I have a setup, I considered diving into BTC mining. When I looked up "How much can I make with 114.5 MH/s mining BTC?" on Google, I found that earnings could be anywhere from a few cents to around $3.68 per day. After doing some digging, I found out that in a mining pool, with that hash rate, the earnings would be more like a few cents up to about $1.76 per day. QUESTIONS 1. Is it even worth it to mine BTC? (Am I missing something?) Even if I could hit that $3.68 daily mark, that’s only $1,340 a year. So breaking even would take roughly six years. One of my previous gaming rigs failed after just three years, and I barely used it for a few hours daily. Thankfully, I had an extended warranty, so the repair didn’t cost me. After five years, my last gaming PC also broke down, but it was past the three-year warranty. Can you imagine how fast it would die if I ran it non-stop? 2. Why join a mining pool if it cuts my profits in half and needs constant use? There are tons of YouTube videos out there saying you can make money with your own computer. Crypto Mine With Your Gaming PC-NiceHash 2021 Tutorial How to MINE Bitcoin with your PC or Laptop! Earn $5-60+ PER DAY! And more.
7 Reply Quote Share
darkguruHero Member
Posts: 849 · Reputation: 4147
#2Sep 12, 2017, 08:43 PM
Bitcoin has not been able to be mined by CPU/GPU's since 2013... Please read the stickied post at the top of this area... Specifically point-3
3 Reply Quote Share
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#3Sep 12, 2017, 10:23 PM
btc is indirectly mineable via nicehash. technical method you are doing is pointing a gpu at nicehash to an alt coin. a renter uses it . to mine. the fee you get is btc. so it is more of a service then straight mining. You are not going to get 100mhs for kawpow. If you understand what you are doing and have a good pc clock it properly and mine while you sleep you may earn some btc indirectly via nicehash and it may make money. I am doing some gpu mining at home. my power costs are 14 cents in the winter. So I turn a small profit and I get heat. The subject is better discussed  at this link in a different section. https://bitcointalk.org/index.php?topic=5477495.0
3 Reply Quote Share
coin_sigmaLegendary
Posts: 1275 · Reputation: 5553
#4Sep 13, 2017, 03:27 AM
That video was published in the year 2021 today is 2024 mining with GPU with Bitcoin might be possible but most pools only accept hash rates with 1gh above hashrates below 1GH are most likely to be rejected by pools so it's not worth mining with GPU even mining altcoins is not profitable and it is also depends in your current electricity rate. Bitcoin is worth mining with ASIC units check this link below to find which ASIC unit is profitable to mine BTC don't forget to use term "sha 256" to sort all ASIC units that can mine Bitcoin and then enter your current power cost. - https://whattomine.com/miners
3 Reply Quote Share
paul1337Full Member
Posts: 59 · Reputation: 464
#5Sep 13, 2017, 01:28 PM
That's quite impressive! I live in southern California and the city I live in charges around 20 cents per kilowatt hour. But even with that, the profit is outstanding! Why doesn't everyone buy one of those units?
0 Reply Quote Share
Posts: 11 · Reputation: 196
#6Sep 14, 2017, 01:47 PM
such a rough time
5 Reply Quote Share

Related topics