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Can you make money mining bitcoin at 0.05 TH/s?

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asked Jan 14, 2016 in Finance by JLettermanMB (43,320 points)
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I can't say no with 100 percent certainty, but I highly doubt it. I'm much more inclined to say that even if there is profit potential, it is simply not worth it.

There is speculation that Bitcoin mining is actually a Ponzi scheme or very close to it. There also seems to be high levels of competition, with applicable hardware becoming quickly obsolete or irrelevant. There are probably cheaper, safer ways to make money.

[1]http://www.financemagnates.com/cryptocurrency/bloggers/cloud-mining-put-to-the-test-is-it-worth-your-money/

[2]http://blog.lavoie.sl/2014/01/is-bitcoin-mining-profitable.html
answered Jan 14, 2016 by Topher (27,830 points)

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