Topic: Bitcoin mining is costly... - page 11. (Read 1977 times)
Yah right mate, I strongly agree on you. Bitcoin mining uses to many resources like high speed super computer and internet connection and probably electricity. You will probably loss so much of money after you gain a single coin sadly sometimes not even a coin. Bitcoin mining is applicable on big companies only for me.
someday there will be a solution that you like.
For now it looks like bitcoin like beta test so there is still very little innovation.
I am sure once 5-10 years the news bitcoin will be better than now
For now it looks like bitcoin like beta test so there is still very little innovation.
I am sure once 5-10 years the news bitcoin will be better than now
So what? I mean, there are many ways earn here and it is on us on what to do. It is for the one who can afford it and besides, it is for them to invest on it and it is really appropriate for them to earn money on their investment. They invest not just on the start, but also the maintenance because the electricity cost too much. So I think there is no problem on that part.
mining is like gambling because you're mining not for today but for the next few months
we do not know what happens next month, whether the price goes up or down
so it takes the right calculation if you decide to mining because it requires a large resource if we miscalculate then we will get a loss
we do not know what happens next month, whether the price goes up or down
so it takes the right calculation if you decide to mining because it requires a large resource if we miscalculate then we will get a loss
Can be said if the economic law is when your large capital mugnkin great income, as well as his sebalika if your capital is small then your profit is also small.
Bitcoin is now expensive so it makes mining equipment too expensive, different first when there is still pauchet, Bitcoin cheap when there is Pauchet and sekarng become expensive then pauchet was useless, right?
Bitcoin is now expensive so it makes mining equipment too expensive, different first when there is still pauchet, Bitcoin cheap when there is Pauchet and sekarng become expensive then pauchet was useless, right?
One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.
For now there is no other way to reduce the electricity cost in mining bitcoin because many peoples mining it.
They are using many asic miner to earn more btc, resulting much consume on electricity, and makes the difficulty harder to mining it.
If the electricity and equipment costs in your country it is probably worth a shot. Y
Yes, it is really very costly which is why it is necessary to consider other variants of getting btc which won't take you much money and efforts, it is better to take part in ICO projects ,choose those you consider reliable and trustworthy
Yes, bitcoin mining is so costly. Instead of dealing with it, we should invest in some mining company like Genesis mining but we profiting their takes time. Doing mining takes so much energy and costly for maintaining it and of course they should be located in a cold atmosphere to be more efficient in power consumption.
The cost to build a large Bitcoin rig is enormous, and you need to spend a lot of money on mining equipment. But you will be able to get back your initial investment in the short term so do not worry that this is an expensive investment.
Mining cost a lot and take much of your efforts, but in the end of the day all those hard work and used resources will be worth it.
it's correct. Exploiting bitcoin is costly because it consumes a large amount of electricity and other equipment.
Yes that is right, i think that it can be profitable if it is possible to use solar energy for mining, in my area as we are facing shortage of electricity and therefore now most of the people are trying to install solar system for getting electricity from solar system. i think it will be a one time investment and then we can mine bitcoin without any cost. 
It can not be denied if the cost to mine bitcoin is very expensive. For electricity consumption and installation of devices to mine alone require expensive capital. However, if we have a smart strategy then we can get a tremendous profit through this mining. But if we just mine carelessly without knowledge, it can be ascertained and we can experience the loss and the capital that we spend will be lost in vain. With the high cost of this mining, you should before going into the mining world to find deep information and knowledge about mining. It aims to launch your business in mining.
One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.
Well the high rate of bitcoin is also because of the fact that mining bitcoin is a very costly procedure which takes up a lot of electricity and also time, although even after the production cost being so high the rates would have never been to 20k dollars nor the 6k dollars which are the present rates, it all happens due to the investors and traders who put in their money in cryptos to earn profit. 
One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.
The cost of mining is totally changed on your area. In the event that you are in a noteworthy city with next to zero inexhaustible energy...then digging may not be for you. Be that as it may on the off chance that you happened to be blessed to live almost a sun oriented ranch, hydroelectric plant, or wind farm..then mining turns into a gainful wander. Contingent upon the extent of your activity it can employ a high overhead with gigantic outcomes, or you can simply profit by having a little bunch of apparatuses.
One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.
There are several factors, which make the cost of bitcoin mining very expensive, among others: The amount of electric energy consumed (government property). The high price of hardware ASIC Miner which isn't enough one or two units only (belong to third party companies). The high cost of building rental, maintenance fees, etc. I think it's not easy lower mining costs even that thing cannot be done.
If you determine the money bitcoin should invest a lot of computers and many machines have the opportunity to dig, now many people spend $ 10,000 to invest in orchestral machines to automatically plow the bitcoin. Your investment in bitcoin digging equipment is not only expensive to buy but also electricity, because these devices run continuously, so it consumes a lot of energy, every month electricity can be reached thousands of dollars are normal.
it's correct. Exploiting bitcoin is costly because it consumes a large amount of electricity and other equipment.
Being costly, it is providing you the best crypto currency with best features. So, good things worth good cost.
yes, the bitcoin mining cost is very high now, but the increase in computing power is helpful to the network.
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