Are Bitcoin miners still good to go? - page 2.

binhvo1505

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

At present, there is no country limited in mining. The government imposes high taxes on the income of the business. That's a pretty high tax rate and those who are subjected to tax are very angry.
But it only happens in a few countries. so mining can still be a good profession with the conditions the investor must find a place to sell cheap electricity.

NineBall

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I guess it's pretty good when you do not have a family or live alone because you do not have to pay excessive electricity. I guess if you already have a family it might be a bit of a hassle because a lot of fees will come out.

abanansah

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Bitcoin mining is still good to go if you have the resources, technological know how and the time and patience to see the results which will not be big as trading or investing in bitcoins.

Doy17

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yes still good, seeing from the trip bitcoin more and more users

Denker

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Quote from: warning_btc on April 05, 2018, 01:28:05 AM

While mining bitcoin still profitable, dead end price 5-6k usd and i think bitcoin never dump lower this price

The big miners have still plenty of room to mine BTC profitably.
The price would need to drop to 3k-4k to reach a critical level in terms of generating profits for them.
That's why I believe we haven't seen the bottom yet. I could imagine more blood slowly grinding down which will make many more people give up and sell their coins.
The big miners have patience and deep pockets. They are in no rush. They sell BTC on spot, and hedge via shorting futures and accumulate more BTC while price is low.

money1122

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thats why theres a consensus using PoS its much cost effective.. and also other consensus is being used.

poplolnman

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Quote from: Pursuer on April 04, 2018, 01:58:26 AM

Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

no you are mistaken because of a lot of FUD in the media. there were no several countries ever! what happened was that a tiny place in New York State started planning for some restrictions on usage of electricity and that news was exaggerated in less than a day into a big FUD.

you don't have to worry about miners they are making their profit (with or without your worrying!) thanks to the way bitcoin is designed (difficulty and all that) and also not to mention the potential of growth that bitcoin has.

I've heard about that. Exaggerated indeed. Mining would always ptofitable as long as you do a right calculation , a great skill to see an opportunity like when you've mined Bitcoin usually miner sell it all due the cost that need to be cover up soon to restart the business and instead you sell it all , hold some whenever you see a great potential ahead.
Normal thing indeed when you sell you mined coin all at once , think about how if you put it as an investment for longer time , your electricity cost would get covered sooner or later , that is why you better start mining with extra money in your pocket.

jonruhoax

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

I think until now bitcoin mining still exists. and on the ground there are many who do bitcoin mining. of course if we do not have certain methods and techniques are always constrained by the cost of electric power. but for some people still can find a solution. I think mining is still good to get bitcoin without investment

OrangeSeller

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

Mining of Bitcoin needs electricity and some countries like China first made restrictions in the electricity field that we only use enough electricity and not more because it consumes a lot of electricity as in this way it takes huge costs.

However China is also known by its solar energy system so they are not using that electricity in order to provide for mining but they did not handle that and failed. Many other countries are taking benefit from it and boosted their economies.

belousov

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

Even if your country has banned mining, you can carry put this in another country. Choose a country where mining is economical because of cheap electricity.

warning_btc

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While mining bitcoin still profitable, dead end price 5-6k usd and i think bitcoin never dump lower this price

sadwage

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

mining for now is really profitable they continuous mining bitcoin until now. yeah your right mining cause to much electricity but they had a equipment and the price of it is too high to stop mine. so they continue mining.

Denies

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

I do not really understand about mining, but there are many people who still do mining.
the possibility is still profitable, it's just that you have to find a method to get around the cost of using a large electric power

wanimulyo

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

I prefer to buy bitcoin than minner, because in my country electricity is very expensive. I have to pay alot cost.

pekcoin01

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Bitcoin prices are important in this business. If prices are high everyone will win.
The investor also wins. The man who sells it also wins. Mining is also the winner.
The miners are investing in digging. The products are expensive, the electricity costs more. If the coins they earn are higher than their investments, they continue to win.

steveabrahams

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

It's one of the reason electricity but also it's become more harder nowdays to mining bitcoin and also the price of bitcoin that not big anymore. It seems bitcoin mining still profit but not that big again, only a little profit but i think you can still earn big profits by mining altcoins.

wuvdoll

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

Yep, there are still bitcoin miners, cause if there ain’t any miners there would be no way for your transactions to be confirmed. If you’re a single bitcoin miner I don’t know if you’re really going to make anything out of it as of now, cause it consumes a lot of power, so by the end of every month you might end up using everything you mined from bitcoin to pay your electricity bills. Best is to just to have a mining farm, but an individual can’t do that, it’s only companies I know that does such. But as for whether there are still miners? Yes there are lots of them.

Kprawn

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Do not believe everything you read in the media. They will blow the smallest thing out of proportion to get some views or

clicks on their site or to sell more newspapers. Most of the electricity that are used for mining is, renewable energy. They

will conveniently leave that little factoid out of their calculations to make things worst than it is. The electricity wasted on

people playing games and watching TV is much worst. At least Bitcoin is creating new jobs and generating income and also

stimulating the global economy. Roll Eyes

carlisle1

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Quote from: aditya6997 on April 02, 2018, 11:47:42 PM

Because it costs so much electricity, several countries have imposed restriction on mining activity?

who told you that?countries dont care about how much electricity has been spended thru mining,whats important is they pay for what they used,isnt it favorable to any countries in which the volume of elevtricy ed is rising this means the country is more developing..and besides its the miners problem who, he spends more costly electricity .eithr if he can gain or loss its hes prerogative

zenrol28

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As long as the miners can pay his bills. Those power producers should not complain how will the consumers use their electricity. Instead, they should make more researches on how to produce efficient energy.

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