Topic: Can Cryto Mining recover in the future? - page 2. (Read 573 times)
you are talking about a very special case that rarely happens when the shitcoins are getting pumped every day in the market and as a miner you can earn a ton of them by mining if you have a decent mining rig. this is not a good idea in my opinion because it is risky for one and it is hard for another. i prefer trading during times like that because it gives me a lot more flexibility that i can move around much faster from one pumping shitcoin to another while a miner can't do that easily.
I am not sure if that will happen to bitcoin, but for the other coin, it could happen.
Bitcoin difficulty will increase, and without using high-end hardware with big power, we cannot get a reward which will cover our electricity fee.
But if you have free electricity, you can use any power, and that will be a profit for you because you don't have to pay the electricity, maybe you need to give attention for the maintenance of the hardware.
Bitcoin difficulty will increase, and without using high-end hardware with big power, we cannot get a reward which will cover our electricity fee.
But if you have free electricity, you can use any power, and that will be a profit for you because you don't have to pay the electricity, maybe you need to give attention for the maintenance of the hardware.
I suppose it depends on how cheap electricity is in your area and your technical savviness. On the other hand, cloud mining or mining left to another party is sketchy as heck, and I have had a bad experience with it.
You really do not need to be a tech savvy to start mining, just the right equipment and cheap electricity is what you need to start mining alt coins, never trust cloud mining sites as they are not going to give you anything in the long run, i have seen many things in the past and i had my set up for mining too, things get too clustered after a while and especially when the price of bitcoin and alt coins tanks you might think twice on how serious you can take mining. If you are planning to start mining now i would suggest not too, but if you already had your set up then you can have some profit.
In terms of mining Bitcoin, there in no way it can be enhanced. It is said that while the time passes, the mining of Bitcoin is getting harder and harder. Welll, I think Bitcoin will stay on that track and that would be the same as other crypto too that followed BTC. I think it is obvious that while other age too, it will be the same but not to other cryptos that just released.
I suppose it depends on how cheap electricity is in your area and your technical savviness. On the other hand, cloud mining or mining left to another party is sketchy as heck, and I have had a bad experience with it.
Crypto mining is no longer a short term investment venture but its now a long term investment avenue. The profit margin of crypto mining for short term investment plan is very low compared to long term. The only way mining can be profitable to anyone interested in mining is by joining the mining ecosystem with a long term investment plan and strategy. That is the only way to make a decent profit from crypto mining....
Crypto mining is till very much profitable though not like before, Mining required huge amount of funds for a start up that's why you see different thread saying negative things about the crypto mining industry. So for those who cannot afford to run the required expenses in order to mine well should take trading as an alternative and stop been discouraged.
If mining would not be profitable anymore do you think those big mining companies would still be alive and functioning? Hell no, because they would spend more than they earn and their whole business would get to bankruptcy over time. Mining is still profitable, but it's just not for everyone anymore because order to make more profit you need to invest more money and not everyone can afford that
Bitcoin mining is still a good thing since we are all still sending transactions everywhere.
You can still profit with them at the current Bitcoin price since price will mirror how much you get from mining as in percentage. The more harder to mine the better the rewards as in terms of price since price will become bigger.
You can still profit with them at the current Bitcoin price since price will mirror how much you get from mining as in percentage. The more harder to mine the better the rewards as in terms of price since price will become bigger.
No, as bitcoin mining was not designed to work like that. Over time, bitcoin adjusts its difficulty depending on the number of miners, and it's designed to go up or down to maintain a 10-minute block time on average. Perhaps if a lot of people were to shut down their miners, you'll have a chance at hashing it out and making bitcoin, but until then difficulty will stay as it is and the competition will be stiffer, tighter and cut-throat to get a single block.
If that was too easy then I guess most would just be mining bitcoin and not do anything else to earn money.
If that was too easy then I guess most would just be mining bitcoin and not do anything else to earn money.
according to me mining is not worth more nor for bitcoin nor for altcoin it has become too expensive, it is worthwhile only if you have almost free energy...
I believe yes, and I will keep my hope for mining. If there would be a natural electric supply which could save more energy with a low cost, mining would be more profitable for miners.
The price of bitcoin also matters so if it strikes high, they will surely recover well.
The miners are still mining simply because it is a profitable endeavor for them with the huge investment they made, if you have the right machine and cheap electricity you could make money but the problem is that, technology is improving by the day and you cannot sit on your million dollar investment when a new powerful machine gets released, so it is a highly competitive field with high risk.The price of bitcoin also matters so if it strikes high, they will surely recover well.
@OP mining wont be a house hold process in the future.
I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.
I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
If you had a good career as a professional then there is no way you would quite that and start mining for a living as it was evident that it will not last forever when industrial mining was a scope even during that time, if someone could make money from home, do you think people with deep pockets will sit idle, they invested heavily in these and so is the reason bitcoin mining is for large scale investors and you think the time will come so that you could mine at home, never I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
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I believe yes, and I will keep my hope for mining. If there would be a natural electric supply which could save more energy with a low cost, mining would be more profitable for miners.
The price of bitcoin also matters so if it strikes high, they will surely recover well.
The price of bitcoin also matters so if it strikes high, they will surely recover well.
Mining efficiency will define the market 75 percentage because the new ASIC and cards are launching one by one to make their profit stability but the miners profit stability is falling like something.
I suggest if you stop buying the new higher end cards and asic machine then we can make the better mining business in this crypto marketplace.
I suggest if you stop buying the new higher end cards and asic machine then we can make the better mining business in this crypto marketplace.
It is alot different now then it was when you first heard about mining crypto whether it be bitcoin or one of the altcoins. It is nearly impossible for you to get back your investment in a miner if you were to solely mine bitcoin. From electricity costs to the difficulty going up every week and then after the halving of the reward block will make it worst for those who have farms of these asics mining for it.
With altcoin mining it is a different story as there are many coins you can mine and be in profit even with electricity costs included in your daily earnings. You just need to find cheap equipment so to build your rigs and have electricity under 0.10 kwh for it to be achievable for someone to make a profit after about a year of doing it.
Once again all depending on the coin you choose to mine and when it is ready to exchange them into bitcoin or whatever it is you are wanting to do with it.
With altcoin mining it is a different story as there are many coins you can mine and be in profit even with electricity costs included in your daily earnings. You just need to find cheap equipment so to build your rigs and have electricity under 0.10 kwh for it to be achievable for someone to make a profit after about a year of doing it.
Once again all depending on the coin you choose to mine and when it is ready to exchange them into bitcoin or whatever it is you are wanting to do with it.
I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.
I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
To be honest, its one of the greatest things that you could probably get money from easily as long as you have the power to maintain a rig to mine for you 24/7. But with the number of miners existing after it went well increased exponentially leading to reduced income and greater expenses which I say is one of the reasons many people stopped doing it.
Mining plays a vital role in crypto industry. As for me, they would still recover in time. It will still be profitable when Bitcoin's price would increase and provide us with promising value. I believe that things will get better for the mining industry in the future because we couldn't eliminate it since it's necessary to balance the supply and demand of cryptocurrency.
I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.
I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
In cryptocurrency any thing can happen at any time I still remember back then in 2017 must miners were making huge profits from they mining farm and lots of people saw mining at that time as the must lucrative venture in the crypto industryI'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
But this day the situation is different and the market is no longer profiting but I believe in the near future bitcoin mining is going to revive again.
No, you won't be doing this.
I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.
I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
I think that mining is a good idea when the price is constantly high or when people are so devastated that enough miners already left the market to affect the difficulty rate in such a way that will make mining profitable even when the price is not great. 2018 and almost half of 2019 do not qualify, because people weren't hopeless enough, I guess. As for now, I think it still makes more sense to simply buy Bitcoin and HODL rather than invest in equipment and regularly spend time on mining. The profits simply from the price going up are more reliable and pretty sufficient for this investment to make sense. Once Bitcoin fully recovers, I think mining will make sense again. I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?
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