Bitcoin Mining

So I've heard of people going into the bitcoin mining business, and I was wondering if it's profitable at all, and if it is would you need a super computer from NASA powered by solar panels?

It used to be profitable, now its not.

Aside from the equipment cost (which you might have old pcs for) It costs nearly as much in your energy bill (well in UK at least).

Your profit will be very minimal unless you can have a giant bitfarm like they do in china.

More complex explanation: https://www.buybitcoinworldwide.com/mining/profitability/

You used to be able to easily mine with your GPU however now a days, only people with massive ASIC miners get anything. Your energy bill will outweigh your profits and in general you're just best off waiting for the market to crash then buying some coins

Handy said:

You used to be able to easily mine with your GPU however now a days, only people with massive ASIC miners get anything. Your energy bill will outweigh your profits and in general you're just best off waiting for the market to crash then buying some coins

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Or ya can just steal your next doors power, problem solved ?

Just a big fat, DONT. Pointless and I don't even know why people do it. Only a fraction of sites accept bitcoin anyway. Why would anyone want to use BTC? Unless they are buying something illegal or donating to a useless company.

Tiger Jiggins said:

Just a big fat, DONT. Pointless and I don't even know why people do it. Only a fraction of sites accept bitcoin anyway. Why would anyone want to use BTC? Unless they are buying something illegal or donating to a useless company.

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Lots of sites what trade BTC for cash too.