Can I make much money mining Bitcoins?

Manchumichael

sr. member

Activity: 630

Merit: 250

Quote from: warwar on January 16, 2018, 07:45:36 AM

Quote from: skyland999 on January 16, 2018, 07:39:53 AM

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

you better buy bitcoin and then you switch from mining to invest or trade because it is more profitable in my opinion

It depends on the country. Base on my research and also ive been to mining way back a year a go it is really profitable before the halving takes place because you can easily mine a bitcoin now it is very difficult. Unless if you are in iceland because first their electricity is very cheap and also their country is cooled so meaning you can make a mining rig with airflow that could help you not overheating your gpu's but the best thing is electricity because that will mostly make you most of your money in paying bills of electric but it is cheap in their country so it would be a ton of profit

I agree with you, to set up mining machine electricity is very important. in your country electricity is cheap then you carry on else you must need big capital. Once you set up and start to mine you will not make a profit from the 1st month it will take some time. So you need money to manage your rig, and now mining BTC is very tough don't know how much time it will take to mine 1 BTC. But you can manage electricity bill then it is profitable.

tal golan

newbie

Activity: 17

Merit: 0

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

I am not sure, but i heard its hard and you have some risks.
But I can't give advices about it because I don't understand in it so much.

roll on

full member

Activity: 175

Merit: 102

Quote from: TeraBitHoven on January 15, 2018, 05:33:51 AM

Bitcoin mining earns a bit slower. You should need as many good computers as possible and patience. Profit is lesser and the risk of using electricity is high.

Yes you can earn much money in bitcoin but you need to be patient and work hard in posting so you cam earn for the capital then invest for bigger profit

bitfocus

member

Activity: 532

Merit: 15

if you get some real sophisticated hardware or build a mining rig, mining bitcoin is a good thing to do. You can use these websites to get your potential earning on hardware

https://www.cryptocompare.com/mining/#/equipment

https://www.bitcoinmining.com/bitcoin-mining-hardware/

sybarius_

newbie

Activity: 4

Merit: 0

You can easily find about the profitability from a simple google search on "Bitcoin mining profitability"

warwar

hero member

Activity: 798

Merit: 505

Quote from: skyland999 on January 16, 2018, 07:39:53 AM

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

you better buy bitcoin and then you switch from mining to invest or trade because it is more profitable in my opinion

It depends on the country. Base on my research and also ive been to mining way back a year a go it is really profitable before the halving takes place because you can easily mine a bitcoin now it is very difficult. Unless if you are in iceland because first their electricity is very cheap and also their country is cooled so meaning you can make a mining rig with airflow that could help you not overheating your gpu's but the best thing is electricity because that will mostly make you most of your money in paying bills of electric but it is cheap in their country so it would be a ton of profit

skyland999

member

Activity: 213

Merit: 13

Wonderful World

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

you better buy bitcoin and then you switch from mining to invest or trade because it is more profitable in my opinion

hajimasan

hero member

Activity: 882

Merit: 500

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

In actual we are at that destination where about 80% of the bitcoin is already mined . Now here mining is a profitable as well as non-profitbale business because it depends upon the location of the miner for those people who have electricity at cheap price and have cool environment can make profit from the bitcoin but where electricity is not cheap then there you can't make much profit .
Since in the starting mining was not difficult but we are towards 80% mined bitcoin.
But here you can make mining profit by making mining of etherium , dash like coins much because these coins are at initial layer of mining and also there price will increase much , so beside bitcoin we have lots of chances .

awawo

member

Activity: 406

Merit: 13

In 2009 mining bitcoin was very easy and you can make much bitcoin just by dedicating your machine on the bitcoin network, but this is 2018 and bitcoin mining is very hard and can only be done using specialized upgraded machine and software's like Asic and the rest of them. But if you are ready to invest your huge capital to set up a modern mining farm you can still make some good amount of bitcoin but the most profitable way to make bitcoin now is to buy and hold bitcoin as a long term investment.

coolcoinz

legendary

Activity: 2814

Merit: 1192

It depends on your initial investment. If you have $1000 and want to get into Bitcoin mining just forget it. It will require a decent space that is cool and relatively free of any dust and moisture and a decent investment of at least a couple thousand USD to start with. Note that this will only get you into mining. It won't make you earn "a lot of money". To earn a lot you have to invest a lot.

cryptojoe

sr. member

Activity: 353

Merit: 250

of course you can, why do you think so many people do it?

Brito

full member

Activity: 243

Merit: 100

I think you can not make a lot of profit with the mining anymore. Is becoming more and more difficult and more expensive.
So I do not advise you to do it.

maman09

sr. member

Activity: 560

Merit: 250

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

I don't really know about bitcoin mining. but some of my friends are still doing mining activities on bitcoin, I think it's still very promising and profitable. but it always requires great capital and knowledge

Dr.Osh

legendary

Activity: 2758

Merit: 1004

Buzz App - Spin wheel, farm rewards

Quote from: yudhistira on January 15, 2018, 11:40:51 AM

In simple terms, because you have to invest a lot of money for equipment and resources (like electricity and time).
And mathematical computations are becoming more and more complex to solve.

well, logically you can make money with bitcoin minning. but, many risks must be prepared, and of course it becomes common. you might be able to make a lot of money out of it, but, you have to make sure that the plan you put together and the thought of using mince to look for bitcoin is really done.

raven.tiu17

full member

Activity: 364

Merit: 101

I really dont recommend mining bitcoins because the difficulty is too high and its very hard to mined bitcoin right now. There's a lot of cryptocurrency in the market that you can mine follow them on coinmarketcap.

yudhistira

full member

Activity: 347

Merit: 100

In simple terms, because you have to invest a lot of money for equipment and resources (like electricity and time).
And mathematical computations are becoming more and more complex to solve.

Kamote_1102

full member

Activity: 392

Merit: 100

I did some research about mining too. You can earn a lot from mining but it depends on the rig that you built to mine. You need to have at least 6 graphic cards to start your mining.lower than 6 graphic cards,you will not feel that you are earning.because you also need to consider another bills, such as electricity and internet.if you only have a gaming computer with one graphic card, don't waste your time to mine.

jatinjax

newbie

Activity: 56

Merit: 0

presenty its quite difficult to mine see the stasticks. To be frankly, it's 2018, the competition and difficulty to find even a 0.001 Bitcoin is hundred or even thousand times harder, compare with 2009. Unless, you have over 6 digit of initial capital or you're open up your own mining farm - else, it's better to buy Bitcoin than mining it by yourself~

Taskford

hero member

Activity: 2520

Merit: 783

If you have a place where the electricity cost is very low then you can earn much money mining bitcoin but you need to remember that mining bitcoin requires a lot of money because you will be investing in bitcoin that requires high end machines to just solve the algorithm of bitcoin and that will give you a lot of headache at the first few months but after a couple of months you will be earning good.

Iceblast

full member

Activity: 783

Merit: 100

Quote from: suzanne5223 on January 15, 2018, 10:42:22 AM

Quote from: ADonnaldSpeak on January 15, 2018, 02:49:54 AM

I heard that we can make much money by mining Bitcoins before, but now we cant anymore. Why?

Bitcoin is the father of crypto currency and it the only that bring the mining thing into picture before other crypto currency. However, there are always a new of mining bitcoin in other to be profitable and you'll find how onmining section

although bitcoin is now a very large coin and makes a lot of money from mining but I think there are still a lot of good new coins for the mine. but now the new coin nambang has a very good potential and the results can exceed bitcoin.

Topic: Can I make much money mining Bitcoins? (Read 464 times)