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I really want to get into mining but I want to know if mining for bitcoin is even profitable anymore.

I know that CPU mining isn't profitable at all but is there some way that I can still make a decent profit from mining bitcoin in any way? Do I need dedicated hardware? Or is it not even profitable to do any sort of mining with any hardware?

If bitcoin isn't worth it (meaning making a profit, not a loss) would litecoin be a good alternative?

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marked as duplicate by Nick ODell Nov 7 '15 at 18:15

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  • Why all the downvotes? Did I miss a point? – mhsjlw Sep 3 '15 at 18:58
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    The downvotes are because this an "I've never run before, how can I win olympic gold?" kind of question. Why would you think that you'd be able to make money doing something you don't seem to know anything about? – David Schwartz Sep 3 '15 at 19:32
  • @DavidSchwartz I said I want to get into mining, not that I don't have any expirience with Bitcoin. I have made my own altcoin before and have a firm understanding of how bitcoin works and how to mine. I just wanted to know if it was profitable. – mhsjlw Sep 3 '15 at 20:02
  • Then you should ask a question that reflects your understanding so that you get answers that don't waste time explaining things you already know to you. – David Schwartz Sep 3 '15 at 20:04
  • @DavidSchwartz I don't already know if it is profitable which is why I asked – mhsjlw Sep 3 '15 at 20:07
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Most likely you won't be earning money with Bitcoin mining, and that's okay - mining has become a very specialised process. If you want to invest money into new ASICs, you might be able to turn a tidy profit.

-- Will I earn money by mining? - An answer to all newcomers

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