Topic: Are Bitcoin miners still good to go? (Read 277 times)
I'd say it is more worthwhile to look at alternative virtual currencies (for example, Ethereum (although it already needs a powerful enough graphics card), Monero, etc.) but not Bitcoin. Mining altcoins can easily be converted to BTC or even to FIAT currency.
Because mining bitcoin requires a lot of electricity, some people think that mining bitcoin is a waste of energy, so it's against bitcoin.
I think Bitcoin mining will take some more time and consumption of electricity is more compared to Ethereum or other altcoins.
Because mining bitcoin requires a lot of electricity, some people think that mining bitcoin is a waste of energy, so it's against bitcoin.
Because it costs so much electricity, several countries have imposed restriction on mining activity?
Hight prices for electricity and very expensive equipment for mining are not the only one reasons to suppose that now it is better not to mine, but to trade. The number of Bitcoins is limited, and the award of miners is constantly becoming lower and lower.
Mining using a regular computer or a bunch of computer with gaming graphics is really electricity consuming that is why appropriate software is needed to save energy as much as you can, try to learn about ASIC (Application Specific Integrated Circuit Chips) [Power saving and reducing heat from any technology is also one key in preserving planer earth], this may help you with your plan entering Bitcoin Mining.
If you are not going to run a huge mining farm then it is not really profitable these days. You could profit by holding the coins you would mine, but you would have to think of the way of paying electricity bill without cashing out. ASIC miners are expensive and you have to wait quite a long time for them. GPU mining is not as profitable as it used to be some time ago. If I were you I would go for buying crypto directly on the exchange. It is way easier and the risk factor is much lower because the mining difficulty might vastly increase any time.
The trend is when demand exceeds supply. bitcoin operators are really needed. This will rebalance the market. And then the bitcoin price goes up at a high price, then the exploit is still profitable.
whether this will cause the price of the coin to rise
Because it costs so much electricity, several countries have imposed restriction on mining activity?
Mining bitcoin with bitcoin price right now, not much profits we earn. Better buying bitcoin in market because bitcoin price more than 50% lower than peak. Bitcoin miner better holding their coin I think, because electricity cost is high
yes because of shortinning in electricity,and much of these was warm country like my country which is the philippines,but mining is indemand in many country because of big income of bitcoin so for me bitcoin mining is still good but not all.
Because it costs so much electricity, several countries have imposed restriction on mining activity?
The short answer is it depends on how much you are going to spend on the mining equipment first. Bitcoin Mining profitability depends on many different factors like how much Hash Rate your equipment producing. So higher the hash rate and lower power consumption means higher profit.But whatever you do i'm sure you will have a limited budget so no one going to get rich by mining Bitcoins at home, can't just compete with these Chinese mining industry https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iRcJ9JZnDQc8/v0/800x-1.jpg
So if you planning like that with million dollar of investment (to produce your own first) then yes you are good to go...
Because it costs so much electricity, several countries have imposed restriction on mining activity?
Yes, now many countries because of mining the currency needs to consume large amounts of electricity, they banned in domestic currency, so under the miners equipment professional them into some recognition COINS, and they received support from the local government, low power resources 
Mining is a pretty good way to make money on cryptocurrency and passive.The main thing is to pay off all this equipment in time and that's the secret of success
As we know that the price of bitcoin is very less now so i don't think that its still good to go for mining bitcoin. Because the cost of resources used for mining will be more costly then what you will get through mining.
It depends on your country, if you live in a very low cost per killowatt country, then bitcoin mining can still be profitable, assuming you don't overspend on your hardware.
Ideally you would get your GPU's/ASIC below market price in order to generate a full return on your investment quickly, but it can still be possible even paying scalper prices on Ebay.
It might be a good idea to wait until the next gen ASICs come out, I think Antminer are released a 10nm variant of their ASIC this year, so that would likely be profitable if you buy at the presale price.
Ideally you would get your GPU's/ASIC below market price in order to generate a full return on your investment quickly, but it can still be possible even paying scalper prices on Ebay.
It might be a good idea to wait until the next gen ASICs come out, I think Antminer are released a 10nm variant of their ASIC this year, so that would likely be profitable if you buy at the presale price.
can still for now, for the results obtained depends on our business in mine, only for the price is now down, but there is no problem if we mine at this time, yet the price will surely rise
With the current price of crypto right now? I'd say, MINING is dead. Just gonna wait for the price of Crypto to be great again. Electricity bill is killing the miners. LOL
Mining is one of the best way to earn extra bitcoin into your portfolio but electricity consumption is another challenge. It will be profitable if there is a stability in the electrical power.
Mining profitability is very interesting to me. Do most miners turn them off if it dips below profitability or just keep it going in hopes that price raises?
up to today still so many people doing mining in bitcoin in addition to getting so big advantage bitcoin is also still good at doing in pernambangan karna bitcoin suplay is still a lot.
Jump to: