Yes you can get money from mining operations but you need to have experience in this area
And also the cost of electricity should be cheap
Topic: Can I get money from mining? (Read 767 times)
Currently, I don't have a job as a retired person, so, I was wondering if mining can get me some money to support our family daily sustenance. Could you give me my best option, and what would be the cost of setting up mining rig? Thank you.
Mining is just profitable if your electricity has only low cost or better yet free. Here in our country, mining is not profitable because our electricity is expensive than mining coins. It really depends on your electricity and computer mining rig for sure.
See this is impossible. Not everyone can make money from mining but some can and how they can, it is via getting proper knowledge about Crypto Mining. It is not the easiest of things but without dedication, it’s just not possible to reach far and that’s where we have to really work hard.
I would suggest you to get yourself proper idea on how mining works, and especially in regards to your country because with mining the country becomes so important.
I would suggest you to get yourself proper idea on how mining works, and especially in regards to your country because with mining the country becomes so important.
Mining is not recommended due to market status right now and if you are going to ask an expert in mining he/she will still not recommend you to mine. You can have money in mining but setup will be having a big cost. The higher version of video card the higher you can take profit.
Mining is not easy because you will be able to buy more miners and every equipment and not guaranteed that you will earn money in that way. Because mining for those people who have a lot knowledge about it. Depends also the location or place you live if the electricity cost is cheap you will earn money for sure . But don't rely on mining as your daily income.
Mining, trading, and gambling were the most prominent earning access available with the cryptocurrency network. Can get money from mining, but the market needs to be high with majority of the altcoins or bitcoins with high price. After the price of bitcoin began to fall the mining profitability got affected in large scale.
Currently, I don't have a job as a retired person, so, I was wondering if mining can get me some money to support our family daily sustenance. Could you give me my best option, and what would be the cost of setting up mining rig? Thank you.
HiYou can certainly get money from mining, but to be profitable, the energy you use must be cheap. But it is a waste of time I advise you to invest it is better
Currently, I don't have a job as a retired person, so, I was wondering if mining can get me some money to support our family daily sustenance. Could you give me my best option, and what would be the cost of setting up mining rig? Thank you.
You have posted a lot of "interesting" posts in the past. It's a little weird for someone with over 700 post to ask this question.
What's your story?
What's your experience with crypto?
You should know that mining isn't a get rich quick scheme.
Well you can get money from mining but you really need to set up some huge farm or possibly join a mining pool to earn from the block rewards. This would mean investing quite a sum of money into setting this up depending on the consensus protocol being used by the blockchain network you intend to join.
Set up a huge farm...or join a mining pool? Hardly similar on any level. Joining a pool is free and takes seconds, building a huge farm is quite an investment. Is this auto-generated nonsense by any chance?
You can earn.It all depends on your ambitions and budget.
If earlier it was possible to make good money on mining with the help of video cards,now they practically do not withstand competition from ASIC devices.
I'm not the first who will write to you-but cheap or free electricity solves a lot.
Study the topic , calculate your budget,decide on the algorithm of hashing coins that will produce and start to act.
If earlier it was possible to make good money on mining with the help of video cards,now they practically do not withstand competition from ASIC devices.
I'm not the first who will write to you-but cheap or free electricity solves a lot.
Study the topic , calculate your budget,decide on the algorithm of hashing coins that will produce and start to act.
As a retired person i think u candidato do it as a Hobbie because learning to put your first minning Rig Is a Lot of fin . At least form me it was. Because current price of crypto doesn't worth the effort as a bussines strategy yo short Time. Maybe this year cause of the Bull market it hey bigger and you can sell your tokens.. but Right nos it does not worth it
you can get profit in mining if you have cheap electricity and choosing a right coin for the rig that you have 
It is much a function of where you are resident, whether or not the cost of electricity is cheap, that is a major consideration in mining economics. The other is the cost of the hard wares(GPU Cards mainly), A while ago you could get them relatively cheaper as fairly used but it seems the prices are been bumped up a little, less miners are selling off at the moment. Mining is still worth a shot if you can fix these problems.
You may have it the other way around.
Actually, "where you are resident" is primarily (although not completely) important because of the "cost of electricity." After the cost of equipment and hardware, it's the operational cost of mining (electricity) which determines a miners profit. If your electricity costs less, the more you can potentially earn. If you can get cheap or free (unlikely) electricity then, mine on!
It is much a function of where you are resident, whether or not the cost of electricity is cheap, that is a major consideration in mining economics. The other is the cost of the hard wares(GPU Cards mainly), A while ago you could get them relatively cheaper as fairly used but it seems the prices are been bumped up a little, less miners are selling off at the moment. Mining is still worth a shot if you can fix these problems.
Well you can get money from mining but you really need to set up some huge farm or possibly join a mining pool to earn from the block rewards. This would mean investing quite a sum of money into setting this up depending on the consensus protocol being used by the blockchain network you intend to join.
There really needs to be some form of mods freezing certain posts or disabling the bumping of old threads.
The original poster hasn't replied since the initial post which was back in June of last year, basically almost a year ago and people keep replying saying the same stuff over and over again.
This is why there is usually a warning asking if you are sure you want to bump this old post, because usually if you got the same issue you should just make a thread from scratch.
The original poster hasn't replied since the initial post which was back in June of last year, basically almost a year ago and people keep replying saying the same stuff over and over again.
This is why there is usually a warning asking if you are sure you want to bump this old post, because usually if you got the same issue you should just make a thread from scratch.
Mining at this time is a waste, I wish I had started mining when I was introduced to it but I waited and when I finally started there was little or no profit from it, would advice you look for an alternative to sustain than mining
In my country the electricity is $0.08. There is not a big profit in mining,
but at least there is no loss on it and I do not need to turn off the RIGs.
but at least there is no loss on it and I do not need to turn off the RIGs.
You can get money from mining but the problem is that mining is not an avenue that can generate you instant cash within a day or two. Due to the current state of the crypto market and the crypto ecosystem, mining is now a long term investment venture. It will take you roughly three to six months to get a decent amount of profit from your initial capital used to setup the mining rigs and system.
I think that now you should not consider mining as a serious income. Now for this industry is very difficult times. Low cost cryptocurrency - make mining profitability low. I hope that in the future the situation will change for the better.Mining was never a serious income compared to buying the coins outright. Imagine if you bought a shitload of ethereum at $1 or used that money to buy hardware. You would have came out a hell of a lot better just buying the coin straight up.
You can get money from mining but the problem is that mining is not an avenue that can generate you instant cash within a day or two. Due to the current state of the crypto market and the crypto ecosystem, mining is now a long term investment venture. It will take you roughly three to six months to get a decent amount of profit from your initial capital used to setup the mining rigs and system.
I think that now you should not consider mining as a serious income. Now for this industry is very difficult times. Low cost cryptocurrency - make mining profitability low. I hope that in the future the situation will change for the better. Jump to: