Topic: Bitcoin mining is costly... - page 4. (Read 1977 times)
yes. it is true that bitcoin mining is very costly because it is not easy to mine a coin, they need a lot of energy for that
Once bitcoin was created it was possible to get more than 100 bitcoins per day on a regular laptop and now who did not have time to take advantage of this opportunity, he missed his chance. Do not miss the moment that is now, because in the future to get bitcoin will be even more difficult.
Yes. Bitcoin mining is very expensive.
A lot of energy is required to be able to mine bitcoin and this is making mining non- lucrative from what it used to be.
A lot of energy is required to be able to mine bitcoin and this is making mining non- lucrative from what it used to be.
I think mining is no longer profitable in the future, you can see fewer mining sites than a few years ago, because nowadays people are more interested in investing in altcoin, ico, and trading.
mining as a handicraft production comes to naught, mining becomes high-tech and the production of equipment will be the main in the next technological redistribution.
I think mining is no longer profitable in the future, you can see fewer mining sites than a few years ago, because nowadays people are more interested in investing in altcoin, ico, and trading.
Mining of bitcoin is now very expensive. From my perspective its obviously that it is not easy for bitcoin mining so it uses a lot of time. Lot of time means a lot of electicity consumption which is very expensive these days. It must be costly because we need a large amount of energy in order to create bitcoin.
While bitcoin's mining industry has consumed a lot of electricity, many of them are idle power in some remote areas. I don't think the cost of bitcoin should be reduced. Now the price is determined by the force.
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 me i did not in favor in bitcoin mining because the mining rig is very expensive aside from costly electricity and the amount of coins mine is not good enough to pay mining expenses so i prefer to buy a crypto investment and i can easily without any stress.
Really, to make Bitcoin mining you have to have big capital to make a big profit and look.
So true. Mining of bitcoin is now very expensive. The cost is very much and if you want to do mining then you need good thoughts and strategies so that you do not lose. Think carefully before starting mining.
Indeed mining is expensive but it is worth a try and learned, if you ever plan to mine bitcoin then it is better to do early inspection and feasibility study of the project you are proposing.
Make sure that if the cost of electricity and rig is cheaper than other nearby countries then it is worth the shot and you may get back your capital / investment as soon as possible. Mining is not for everyone but for those who want to do it then better start doing your own research now. Thanks
Make sure that if the cost of electricity and rig is cheaper than other nearby countries then it is worth the shot and you may get back your capital / investment as soon as possible. Mining is not for everyone but for those who want to do it then better start doing your own research now. Thanks
Indeed the cost of bitcoin mining is high enough in my opinion difficult to trim. The cost for electricity needs is very high because for mining requires high electrical power. Other than that the device used for mining is also not arbitrary. This device is expensive so a miner cost a lot to start the mining business. Indeed we have the expectation that mining costs may be lower but I am not sure that mining costs can be reduced anymore. No one does not want a high profit so someone will be mining if already have capital. The main capital that is not less important is the knowledge and insight about mining.
Yeahh mining of bitcoin is costly because of the fact that it uses the Proof of Stakes as a method of its consensus mechanism in confirming new blocks unto its blockchain. It would be quite better to join a mining cloud that way you can earn quite a bit since and you would not be using much electricity like others are using.
yeah itcoin mining is costly, if you want to mine bitcoins I think the country temperature is important like in my country mining bitcoin is not profitable due our climate is hot and we need to have an expensive air-conditioner to fulfill the needs of the computer to mine bitcoins.
Mining a Bitcoin Costs about as much as buying one these days. “Mining” Bitcoin is a notoriously expensive business—recent calculations by the lighting company Elite Fixtures suggest that it costs a fortune to mine one Bitcoin in some countries.
It's obviously that It is not easy for bitcoin mining. Therefore, It must be costly
That question is very dependant on several things, but to put it simply, it can cost a lot. To purchase 1 or even a few mining rigs (such as an Antminer S9), you are looking at $2,000–3,000 each (at least). At Bitcoin's current value, that should net you $15–20 per day, per machine.
If you have additional resources, you can simply multiply those numbers and see how many mining machines you want. The issue with scaling up your mining operation will be access to the electricity to support a large number of devices. Also, cooling, site acquisition and prep, electrical distribution all become factors. If you are familiar with the various aspects of data center design and development, you will be able to cut cost. If not, you will have to hire a consultant.
If you have additional resources, you can simply multiply those numbers and see how many mining machines you want. The issue with scaling up your mining operation will be access to the electricity to support a large number of devices. Also, cooling, site acquisition and prep, electrical distribution all become factors. If you are familiar with the various aspects of data center design and development, you will be able to cut cost. If not, you will have to hire a consultant.
It depends on your goal, if you mine BTC and just sell it, that will be not a profitable way but if you are planning to mine and hold your BTC for a long time until it gets its highest price then it will be profitable. Also some country charge a very high for electricity bill if your country if one of that then mining will not be profitable for you.
It must be costly because we need a large amount of energy in order to create bitcoin
There are two options for mining: cloud-based mining with your equipment and the second option cloudy mining! in the first version you will need about 22 000 dollars chiots immediately start to get a good profit, and in the second version you can at times less, but then the main thing is to choose a good partner so that you will not be deceived!
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