Bitcoin Mining , Is it worth it? - page 25.

Tambu

jr. member

Activity: 224

Merit: 3

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

For 6 GPU you can earn around 1000 US Dollar (PHP51000) a month (it could be more or less)
Monthly power bill around PHP10000
Price of one (1) GPU approximately PHP35000

Approximately 6-7 month before you can break-even on your investment.
Mining is huge investment to start and it will take time to get your ROI.
If you have enough money to invest then its good though. It's a low risk investment.

xhoondilan

member

Activity: 168

Merit: 10

Well if you study on bitcoin mining then it is worth it for you really can earn more but if you just do ot righ away and make sudden decision then it may cost you more money. Also you should consider using alternate electricity source to have less electric bill.

DoublerHunter

hero member

Activity: 2590

Merit: 644

As the price of bitcoin is going down and as the capital is not that average because you need a lot of capital to start a decent mining for bitcoin then i will say that it is not worth it because you cannot be sure that you will be earning good decent profits in the long run because the market is volatile and it is not for the people who want average to low risk type of investment because it is very risky and it is just like gambling.

squallw

full member

Activity: 504

Merit: 122

In this red days, mining not worth if you need to mine to pay your dinning.
It worths, if you can mine and hold your coin to sell when the markets rise again.

AlexAtom

member

Activity: 560

Merit: 10

YOUC - www.youengine.io

Yes it is, bitcoin mining is still worth. Currently, im mining bitcoin with some tools.
and not only bitcoin, but altcoin also. You can still earn some profit from mining crypto.

reactgirolles6

newbie

Activity: 63

Merit: 0

Try to mine in other altcoins rather than btc because there is already many high tech mines in btcs

shezu007

full member

Activity: 336

Merit: 121

Mining is the way toward spending figuring energy to process exchanges, secure the system, and keeps everybody in the framework synchronized together. It can be seen like the Bitcoin server farm aside from that it has been intended to be completely decentralized with mine workers working in all nations and no individual having control over the system.

atutay

member

Activity: 162

Merit: 10

For you to maximize the profit in mining, you must know what gpu to pic, which coin to mine and etc. There are several things you need to consider first before you start mining. And you must research about it because it might be waste of money if you did not purchase the best gpu and best setup for mining.

alexros20

newbie

Activity: 33

Merit: 0

Mining is the process of spending computing power to process transactions, secure the network, and keeps everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network.

Carrelmae10

member

Activity: 588

Merit: 10

..for me,,bitcoin mininig is worth kung ayaw mong maghirap maxado sa pagtype,post,or click in earning bitcoin..as along as my enough fund ka para maafford ang mga kelagan mo sa pagmimina,eh pwedeng pwede mong gawin yan..Ayun nga lang,,malaki talaga ang gagastusin mo sa pagmimina..kaya kung ako sau,payo ko lang,ganun din lang na gagastos ka ng malaki,,try mo nalang kaya maginvest o kaya magtrade..marami pa namang ibang paraan para magkaron ka ng bitcoin.

bighok353

newbie

Activity: 102

Merit: 0

If you want to dig for Bitcoin, I don't think it's worth it because the cost of digging Bitcoin is too high, and, over time, bitcoin's difficulty is gradually increasing. So I do not recommend you to dig bitcoin.

whiut

newbie

Activity: 6

Merit: 0

I don't think it's worth it because Bitcoin becomes harder and harder to dig. It has already been mined and it wastes more power.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: junkievanillae on March 12, 2018, 10:55:26 PM

Don't indulge in the system. Once you get addicted you cant fall back. Beware of it

Hmm.. Once you invest your hard earned money in the mining rigs and other equipment, it is impossible to pull back. You will keep on mining, even if the revenue from it doesn't even cover your electricity bill. Some people find it hard to accept defeat and move on.

tooiu3

newbie

Activity: 169

Merit: 0

Quote from: Radio-Active on March 09, 2018, 01:22:53 AM

stay assure, bitcoin mining is still profitable nowadays.
if you compare with the cost and the gain for a long term, you will still profitable

Cases of illegal “mining”, trading, and use of cryptocurrencies have emerged in an endless stream worldwide, and the imperfections and risks of the cryptocurrency exchange market have become increasingly prominent. In recent days, multinational financial regulatory agencies have successively introduced policies to strengthen the supervision of cryptocurrencies, so it is not worthwhile to mine illegally.

andrew1carlssin

jr. member

Activity: 168

Merit: 3

#Please, read:Daniel Ellsberg,-The Doomsday *wk

POW is about to convert electricity and silicon to hash ... isn't it ?

juiceannabel

newbie

Activity: 224

Merit: 0

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

do you think bitcoin mining is not profitable ?
mining indeed cost electricity, but it is still profitable for me.
you should wait for the long term in mining to earn more.

junkievanillae

newbie

Activity: 29

Merit: 0

Don't indulge in the system. Once you get addicted you cant fall back. Beware of it

Kotone

hero member

Activity: 1372

Merit: 503

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

I think it is if you have the resources and the capability to do so then i think you’re all set to bitcoin mining. Its worth it because you would have a brand new experience in the world of cryptocurrency and that you would have an experience in bitcoin mining where you get to have a lot of bitcoin at your fingertips forsthand and the returns can be incredulously high as you would have the full unfettered access to it that are not found in trading or just buying and selling it

Radio-Active

member

Activity: 523

Merit: 10

YOUC - https://www.youengine.io/

stay assure, bitcoin mining is still profitable nowadays.
if you compare with the cost and the gain for a long term, you will still profitable

Gintama214

sr. member

Activity: 462

Merit: 250

DONATION SENPAI PLEASE <3 <3

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

I do think that mining bitcoin is a good way for learning and gaining knowledge, but it is hard to mine bitcoin especially if you don't have the proper rig to use in mining. If you are really interested in mining you can buy high-end GPU's as much as five 1080 GPU for you to be able to actually earn through mining especially as you said PH has expensive electricity or you can buy ant-miner which really costs a lot as much as the price as you are buying five GPU's but even if you have those resources it will still take time to break even your costs on your rig and plus the electricity. This is why I prefer on just investing directly than mining. I don't have against on mining but it is only good for knowledge and learning. The era of mining has gone past and I also have missed that chance.

Topic: Bitcoin Mining , Is it worth it? - page 25. (Read 2055 times)