Is It Too Late To Start Mining Bitcoin in 2024?

I've been mining Bitcoin for 1.5 years now. In this video, I'll tell you how much I've made, how much I'm making, whether it's too late to get in, and how the upcoming halving is going to affect mining. This is taken from a recent live stream, but all the dead air has been edited out and the Q&A section removed so it's shorter and easier to watch.

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I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.

[OkieSilverDude]

We obviously need miners but most people will be better off buying the coin.

[mikedavis]

How often would you recommend pulling the mined coin off the dashboard into cold storage?

[wapphigh]

I look forward to the future vids on detail how you earn "transaction fees". You say you get paid with BTC "for transactions". Where? Direct on the BTC blockchain? How so? I thought mining BTC only pays when more blocks are produced? As a BTC miner (particularly post halving) are you not completely dependent on the price going even higher to remain profitable?

[neilww]

I never have an ASIC miner, good to get one..

[tryitout_yt]

Hey andy, I’m curious how asic resellers make their margins, specifically the smaller ones that can’t afford to purchase bulk orders of 100+ miners of every bitmain release. I mean there are many asic resell companies where i live that offer s19k pros within 1-2 weeks after payment which makes me think they don’t deal with bitmain directly as it’s not in stock on bitmain’s site. How do they run their operation?

[Avaldemon]

if I buy the machines and decide to host with MM, do they set them up themselves, or I got to go there and get it setup? I've never done mining before 😅 ...been hodling for years though 😊

[ryanshea]

Do you need to be an LLC or real business to write off mining rig purchases? Do you recommend starting an LLC for this? Even if I just buy like 3 s21 to start and run them at 10 cent kw/h electric cost?

[ezorist]

What’s the different between mining bitcoin with a basic desktop pc and an s19 or s21?

[YsMining]

ya, quite the difference in watts with the 110th from bitmain and reality. they say 3050w and it's actually above 3350w and MY temps here in Chinadastand is still cold. just saying
Good vid friend

[antonellaarmetta]

I’m doing mining with a BIG Italian company that can operate all over the world.

[ryanshea]

Bro you got an update post halving? Seriously looking into my first miner. Will start a shed of 10 after testing one first

I'm 10 cents a kilowatt is it worth it?

[Casperarizona]

So I wont be making any money anymore. If I get cut in half. Did I understand that right? Or is there a way I can join other people in a Pool? Is that a company I can do that with?? I have a 8 GPU Miner Making me money still slowly but yet making money, I have been mining for 3 years now. What do you think I should do?

[taketh]

Do the machines depreciate on a five year schedule?

[WardenOfTerra]

Dude's like "Just spend $250, 000 on mining machines and you'll be fine" lmfao

[eagle_master_]

Bro help me plz i have tryed to download Nicehash but my pc says its a harm or verus to my pc
????

[hemasaimylarapu]

Bro Make a Video On Navy ai & Deboard Nodes Which Is Better

[PANZERKACKER]

Imagine having solar panels on the roof and winning an awesome miner… (like me)

[TechnicalsMatt]

Not too late, but nobody should be disillusioned that they're going to get (significantly) rich from it

[chblive]

What was the Bitcoin price when you bought your first mining machine

[lolothedog]

A question for someone to advise. I produce much more power than i can spend at my house. Literally 3-4thousands of KW are being unused. I can also resize my production by several times if needed. Can someone advise me whether getting miner’s equipment for btc will provide a steady income?