Bitcoin Mining , Is it worth it? - page 24.

Pesona1

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Quote from: zolfa on March 19, 2018, 04:43:04 AM

Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

If you feel you have the ability in bitcoin mining, it would not hurt to try it. Obviously if you're in the mining world you have to have more costs, because as we know the tool to mine bitcoin is quite expensive. And at least you learn it first before actually plunge into the mining world. because that's the most important step.

the ability to understand mining science I think that can be learned the most important is the financial ability to buy mining tools, because mining requires a lot of equipment and also the price is expensive. so I think we should require it for the mining needs.

zolfa

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Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

If you feel you have the ability in bitcoin mining, it would not hurt to try it. Obviously if you're in the mining world you have to have more costs, because as we know the tool to mine bitcoin is quite expensive. And at least you learn it first before actually plunge into the mining world. because that's the most important step.

jeremypwr

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Unless you live in Iceland or Venezuela, your best bet is NO.
It would be more financially rewarding to just BUY and HODL your coins.
While there may be other crptos worth mining, I wouldn't suggest Bitcoin.
I'm not expert on this subject TBH, but I think this is the general consensus.

WorldBiz project

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According to a recent study by the company Power Compare for mining bitcoin takes 0.13% of electricity in the world. If bitcoin was a whole country, it would have been ranked 61st in the world;)

But not everything is so fun. Over the past month, electricity consumption for mining increased by 29.98%. If the dynamics are the same, then by 2020 our cue ball will consume all the electricity in the world.

Russlenat

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for me it will depends on the budget of the miner, because of the mining hardware that too much expensive that only rich people can afford to buy the hardware to mine bitcoin, but for low budget miner they mine altcoins instead that has a low cost mining hardware and easy to mine altcoins.

Ruffian14

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Yes if you have money to buy those mining rigs equipments and all the things needed in bitcoin mining. It is worth it for a long term invesment because many of my friends doing it and they say that you will have your return of invesment in 7-8 months and a maximum of 1 year of running it 24/7. In that period of time, you can have your invesment back and they said that they computed it less all the expenses like electricity. But this type of thing is really expensive for you to have a full set up of mining rig.

Sithara007

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I don't think that small-scale mining is profitable right now. That said, when the exchange rates rise in the future, your investment in mining can potentially bring you 5x or 10x returns. This is what happened to those who persisted with mining when the prices were low in 2015 and 2016.

parker99

newbie

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It is worth it if you are very busy doing your job, let your mining desktop earn money for you. But it is not easy to build a mining rig that will surely bring profit for you. Electricity bills, graphics cards, and internet bills costs too much especially if you're living in the Philippines.

noorman0

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Quote from: Jlimao28 on February 21, 2018, 08:33:24 AM

Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

Are you a Filipino?
Well, bitcoin is not anymore profitable in Philippines since there is a high cost of electricity and we all know that mining uses current so much.
I want also to try mining of bitcoins but I am doubting if I will gain or loss my capital.

For mining does require large electrical energy. If you have inadequate infrastructure, you should have other protable equipment to cope with mining needs, or not to continue with this plan.

corinccy

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nowadays, not worth. the annual supply is getting less and lesser. I suggest you directly purchase btc instead of spending on graphic card. Do trading at cryptopia,coinbase ,any crypto trading site.

Evangeline2

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I think the BTC is not suitable for mining now, because the price of BTC is already very low, and it is better to buy BTC directly if the investment is mined.

Caesar Cung

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Industry 4.0 is called Bitcoin

Quote from: mkcube on March 18, 2018, 10:19:47 PM

Yes bitcoin mining is worth it.Though it has many competitors but it has a great advantage to orher.Because regardless of mining you were also using btc.

Difficult BTC has increased, if there is no peach will not be born BTC brother, machinery workshop to do nothing? One more thing about the level that you say the market ever revived? 1 or 2 years Huh

Touching on such a group benefit, I think about $ 6,000 may be the bottom for btc to revive.
The Ministry of Education and Training (MOF) has completed the hypothesis in 2140 - but that is not all because it is still expensive to train the BTC will still be born - it is the cost for the excavator. When BTC falls into the low price area with the assumption that you think the BTC excavation will only result in losses, if an individual or an organization have to pay the cost of digging each month, the excavation on the ongoing. If that person does not believe BTC will revalue => Crypto loses a large community for a long time if that hypothesis occurs, and as said, touches on group interests while Crypto is catching up on the investment wave. that's unlikely.

mkcube

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Yes bitcoin mining is worth it.Though it has many competitors but it has a great advantage to orher.Because regardless of mining you were also using btc.

pubmongrelT

newbie

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Btc system is overpopulated and competition to become better miner prevails still and so you as beginnner should not try it

11adamsBTC

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Though it has many competitors but still it has advantage because regardless of market you can mine btcs well

hxxxiu

newbie

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Bitcoin mining has been very difficult and extremely power-consuming. I think this is a loss-making investment.

as,kdhakuy69

newbie

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Quote from: joms123 on February 21, 2018, 07:49:02 AM

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys ! Wink

It is only now that we have begun to contact mining. I suggest not to participate. First of all, the electricity bill is the first factor. Secondly, you don't have professional skills for the configuration of the mining machine and some skills are unfamiliar. The matching is unreasonable. The important point is that bitcoin has too much computing power. It is difficult for ordinary people to dig into it, and the income from joining the mine pool is not high. If you want to dig mines, look for ETH or some other new cryptocurrency.

Troysen

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Mining can be quite profitable especially if you have the technical know how on how to go about it. acquiring the necessary equipment is expensive enough and if the electricity cost is high too then it might not be as lucrative as the process needs a lot of electricity. in such a case, i would recommend trading instead

altercreed

full member

Activity: 434

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Yes it is worthy and bitcoin mining is one of the ways to earn bitcoin without having to work all day. But making a mining rig is not an easy thing to do if you don't have enough money.

Emjohn.

member

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Yes, I think it is worth it to do bitcoin mining as long as the mining site is true. Beware of the mining sites that requires you to pay an amount to claim the mined bitcoin because it could be a scam.

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