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Bitcoin Mining in 2017 Profitable or Not?

With it's power consumption, my electric rate of (10.8c CAD per kwh /.94c per kwh USD other equipment, etc. Mining Altcoins as an alternative to Bitcoin Altcoins is an alternate

option you can consider instead of mining Bitcoins. Mining profitability calculators were innovated so as to find out. It seems I'd never make a profit. Once the pool manages to mine. However soon enough the block halving will occur and the reward will be downgraded to only.5 Bitcoins. Bitcoins the profits are divided. Miners performance is measured in MH/s (Mega hash per second GH/s (Giga hash per second TH/s (Terra hash per second) and even PH/s (Peta hash per second). Bitcoin miner consumes a lot of electricity. It is what is known as an asic mining rig which has a mining rate of 14 TH/s. Today Bitcoin miners (those super chart powerful computers talked about in the video) come with different Hash Rates. I just want to go back to my wife and tell her the hard facts that its not a gold mine like she was lead to believe).

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The platform that brings them together is called a mining pool and it deducts some sort of a fee in order to maintain its operations. The wife's friend kept convincing my wife that its completely casual, profitable, "just runs". However, the hardware cost, electricity cost, pool fees, etc. If you dont have the time or the money stay away from mining and just invest in buying Bitcoins for the long run. The Hash Rate is the rate at which these problems are being solved. Mining Bitcoins at home will most probably not make you rich unless you have very low electricity costs and you can afford to buy some heavy duty equipment. Once the pool manages to mine. Apparently Josh has a miner (not sure if asic or GPU based, etc). My guess is that in the long run you could make a profit from Bitcoin mining but only if you invest a considerable amount of money in a good mining rig (e.g. In the case below, you can inset an annual profitability decline factor that will help you estimate the growing difficulty. Heres a list of the most efficient Bitcoin mining hardware out there today. Antminer s9) or take your time to hack through making a profit with.