I had tried to do a mining experiment on my system that has Intel Core i5 - quad core processor along with the Intel integrated graphics card of 2 GB and RAM of 8GB , after doing the mining for around one month of the ByteCoin (BCN) following reports on earning :
Total mined BCN : 575
Hashrate : 50 Hz/s
Total time : 1 month
$ earn = 0.88468932 (less than a dollor while electricity cost would be been more than > 10 $)
Is really mining is profitable ?? I doubt with the result , I had tested for different coins but result were not in the favour .
Note that your system continuously run and consumer power wattage , also hamper the performance of your hardware.
Once I thought to prepare a rig with multiple GPUs but after doing the calculation of the input cost and output result , I dropped the idea.
You can take risk if in your place electricity and hardwares cost is cheap , in India both are very costlier , not the data were not in favour of doing the mining.
With the rising difficulties , it would be much difficult to generate profits from the mining. It would have been profitable if you had started mining from year 2012 -13 , then worldwide limited miners were available and difficulty level was not so high.
In year 2017 , when many are trying to generate profits from the mining , but if you compare the earning over an year or two , you find very less amount of profitability.
So its better to invest in some good coins available in the market , whose fundamentals are strong and business prospects are unique , that will churn out you good profits .
Instead of putting your time and money on the mining , its better to be off it , and keep investing in some good cryptocurrencies.
Enjoy the crypto currencies !!!!
you should mine only if you are in 1 of these 3 situations:
Agree ....but I doubt we can get free electricity until we have our own solar panel to use as a source of power and being a manufacture of hardwares ..you don't require to even think of the profitability .
Best option to put Altcoins in your portfolio.
Sure what I want to say is mining can be profitable only if you have an advantage (electricity or device) or if it is not possible to buy on the market.
If you are normal people then don't mine as it will not be profitable.
Excellent write!