i wouldn't invest now anymore in bitcoin mining the run is over bitcoin is dieing,
i was into bitcoin mining when bitcoin pricegrowth was forceable, because many people where tired with banks, but now time is over market is flooded with thrillion coins,
Topic: Best Profitable Places to mine Bitcoin right now - page 2. (Read 632 times)
The "war" between Ukraine and Russia ins't over.Just read the news.
Your info seems a little bit outdated,but the electricity cost isn't the one and only factor that determnines how profitable is the bitcoin mining.There are increased costs of security(yes,someone could steal the mining hardware),hiring people,buying property and paying taxes.
Your info seems a little bit outdated,but the electricity cost isn't the one and only factor that determnines how profitable is the bitcoin mining.There are increased costs of security(yes,someone could steal the mining hardware),hiring people,buying property and paying taxes.
Everything is updated, you should check your sources and FYI "war" is not the same as "skirmish", and yup the war is over Russia won for better or worse
very interesting, and I see a significant difference between mining costs in South Korea and Venezuela.
Venezuela is a new country that accepts the digital currency revolution, but its growth is very fast, but public demand is still low. so the mining costs are still small.
and public demand in South Korea for blockchain technology is very large, but the majority in Korea are not miners, they are only consumers and blockchain users, especially for the gaming world.
Venezuela is a new country that accepts the digital currency revolution, but its growth is very fast, but public demand is still low. so the mining costs are still small.
and public demand in South Korea for blockchain technology is very large, but the majority in Korea are not miners, they are only consumers and blockchain users, especially for the gaming world.
I think that in Georgia and Venezuela it is very profitable to mine Bitcoin. I think this is one of the reasons why Georgia is one of the leaders in mining. I also think that in some regions of Russia it is also very profitable to mine Bitcoins.
Why is paraguay not on the list? It is the number one place to mine bitcoin due to the cheap electricity from their hydro power plant. They will build the world's biggest bitcoin mining farm soon, you need to update the OP
Glad to hear that about Paraguay, if you have any info or data, feel free to post it here
Interesting, thanks for sharing or finding this op. Looks like Venezuela, Ukraine, Louisiana State, Canada, India, Zambia or China are still profitable to mine bitcoin. I never know that Ukraine have so cheap cost for electricity. I have no chance here with 0.15$/KW, to have a chance i need the price to grow 3-4x.
Ukraine: This country Have the lowest electricity cost in Europe. Ukrainians pay $5 cents for a kilowatt hour of energy. Bitcoin mining in Ukraine is perfectly legal and crypto-friendly and they are even building a statue in Satoshi Nakamoto’s honor replacing a Lenin statue [3]. Do not worry about the war with Russia is all over now. You can bring your machines from nearby countries like Germany and the speed of the internet is not the best but is ok for mining. The price for mining 1 b is $1852
Regarding Ukraine, I can say the following: since yesterday, martial law has been imposed on a large territory of Ukraine for the next 30 days and no one understands exactly what this means. Bitcoin mining is not legalized. There are no laws that would ban it, just as there are no laws that support it.Sorry to hear that, the law is on our side because "nothing can be considered legal or illegal if there are no laws from the state or nation that say it is"
So if there are no laws that say that bitcoin mining is illegal then it is legal
Actually, Venezuela is bitcoin-friendly and mining is perfectly legal you should not believe everything you see on the internet. And also I recommend you to check the https://asonacrip.org.ve/ that is the national association of crypto traders in Venezuela. (is in Spanish)
bro, I am an electrical engineer do you even know what a KWH is?
bro, I am an electrical engineer do you even know what a KWH is?
Bitcoin mining will be profitable in 2019. Bitcoin rate will rise to 10, 000 dollars.
In 2020, the course will have to grow to $ 50,000 to remain a profitable coin.
I think mining should be developed in Asian countries
In 2020, the course will have to grow to $ 50,000 to remain a profitable coin.
I think mining should be developed in Asian countries
Why is paraguay not on the list? It is the number one place to mine bitcoin due to the cheap electricity from their hydro power plant. They will build the world's biggest bitcoin mining farm soon, you need to update the OP
Ukraine: This country Have the lowest electricity cost in Europe. Ukrainians pay $5 cents for a kilowatt hour of energy. Bitcoin mining in Ukraine is perfectly legal and crypto-friendly and they are even building a statue in Satoshi Nakamoto’s honor replacing a Lenin statue [3]. Do not worry about the war with Russia is all over now. You can bring your machines from nearby countries like Germany and the speed of the internet is not the best but is ok for mining. The price for mining 1 b is $1852
Regarding Ukraine, I can say the following: since yesterday, martial law has been imposed on a large territory of Ukraine for the next 30 days and no one understands exactly what this means. Bitcoin mining is not legalized. There are no laws that would ban it, just as there are no laws that support it. I think there is no place for mining that can produce, after the bitcoin falls mining is no longer producing, unless we can find alternatives that can produce electricity.
Then you would just sell the electricity directly and scale the hell out of it, you wouldn't use it for Bitcoin mining it wouldn't make sense based off risk and reward.
I think that good options for mining remain:
1. Siberia (cheap electricity)
2. North Africa (alternative energy and good internet)
3. India
I'm waiting when Ethereum refuses mining
1. Siberia (cheap electricity)
2. North Africa (alternative energy and good internet)
3. India
I'm waiting when Ethereum refuses mining
I think when world oil is still expensive electricity will also be expensive too. Maybe in some countries that produce oil have cheap electricity, so the country is suitable for bitcoin mining.
Currently, bitcoin mining experiences the same problem, namely income that is not in accordance with production. What I am asking is what if many people stop mining? will bitcoin die? Then, if a country facilitates bitcoin mining, will that country be the ruler of bitcoin?
Currently, bitcoin mining experiences the same problem, namely income that is not in accordance with production. What I am asking is what if many people stop mining? will bitcoin die? Then, if a country facilitates bitcoin mining, will that country be the ruler of bitcoin?
I think there is no place for mining that can produce, after the bitcoin falls mining is no longer producing, unless we can find alternatives that can produce electricity.
it's not right, I'm in Canada , and my friend stopped his miners when the bitcoin price was 1 bitcoin = 6k USD
Venezuela might be the cheapest, but it is among the most dangerous countries in the world [1].
So, not only you will have to worry about not getting kidnapped or murdered for having foreign currency, but you'll also have to be cautious with your hardware as you might become the target of the govt for having bitcoin mining hardware, plus there's also the corrupt police who will steal all your shit if the find out you have mining equipment. If you value your safety, you simply won't opt to mine btc in Venezuela.
1. https://www.independent.co.uk/news/world/worlds-most-dangerous-countries-colombia-yemen-el-salvador-pakistan-nigeria-a7934416.html
So, not only you will have to worry about not getting kidnapped or murdered for having foreign currency, but you'll also have to be cautious with your hardware as you might become the target of the govt for having bitcoin mining hardware, plus there's also the corrupt police who will steal all your shit if the find out you have mining equipment. If you value your safety, you simply won't opt to mine btc in Venezuela.
1. https://www.independent.co.uk/news/world/worlds-most-dangerous-countries-colombia-yemen-el-salvador-pakistan-nigeria-a7934416.html
in my opinion not now because see for yourself right now it's bitcoin how like experiencing bad luck and advice I already ignored first we reflex for a moment to get rid of our fatigue
There is no bad luck or ill fate associated with the bitcoin,this is simply a normal occurrence,and we all must have heard it in our early days on this platform that it's impossible to predict what's going to happen next(in relation to the price/value/volume)Back to the topic:i do not think it's possible we'll see a dearth of miners, though we may see a considerable reduction in the number of miners,but definitely those who can cope with the current bearish market will mine from any part of the world they are in.
It costs a lot of money to mine,and it's laden with numerous competitors,the more reason why mining is really profitable
Isn't Venezuela pretty much an untrue competitor on this? With governments seizing mines, power being unstable, the fiat there being a joke, I think that price is bullshit and the power quality is bullshit too.
Venezuela surprised me a lot. It might be a country where you want to mine Bitcoins but you don't want to live there 
I would recommend to look at Sweden, Norway and Iceland. Some companies used abandoned caves at Iceland to build their farms with free (and natural) cooling system. And if I am not mistaken, Sweden and Norway offer electricity subsidies.
I would recommend to look at Sweden, Norway and Iceland. Some companies used abandoned caves at Iceland to build their farms with free (and natural) cooling system. And if I am not mistaken, Sweden and Norway offer electricity subsidies. Jump to: