Can I make much money mining Bitcoins? - page 3.

Tramle091296

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Quote from: giogio0504 on January 15, 2018, 03:21:54 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?

Now it is more difficult to mine bitcoins then earlier, you need much more time. But price is grew up significantly, so when you mine you get more profit. so i dont think the situation changed dramatically.

Yes I think it change. The price of the materials you need in mining is getting more expensive but. When interms of bitcoin i think you can get it back because of the price but i dont think its faster

Ranly123

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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?

Why? It is simply because there are many miners that mines bitcoin. Data that passes through rig computers are divided among many miners and those who has a faster and most powerful hardwares mines faster than those with low-end hardwares. The many the miners are the more they are to share the goods that they mined.

synapsisxxx

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This absolutely depends on the amount of electricity cost you are incurring for the mining operation and whether you are being able to cover it. You have to calculate your miner's output against the electricity incurred. There are lots of online calculators available to do so.

datodota002

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when the first bitcoin appears. people can do mining with a laptop only because the network load and the level of difficulty mining is still easy. but today you need to have a sophisticated computer specification to bite the bitcoin. not just one but many. so if you want to do mining. I hope you have a lot of funds to support your desire because bitcoin mining tools are very expensive and high operational costs.

The_Selected_Few

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I invested £2k and I have made that back in 3 and half months....I now make roughly £17-£20 a day for nothing.
Gamble big for big rewards!

John Rambo

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As previous speaker told, there are two ways of earning something from crypto-mining - invest huge amount of money into hardware and electricity or mine other coins, which are not so expensive nor hard to obtain.

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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?

its depend on how much the electricity fee in your country, what hardware you will use, how stable your internet connection, what coin you want to mine. this is the most important that you need to think before you decide to mining. ok maybe you have cheap electricity fee and you can use vga cards to mining, but you still think what coin that will profitable for you. you can find this in whattomine.com to know which coins that will give you a profit in a day.

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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 do not think you can make much Bitcoin from mining because so many are mining it. Especially China is a nation famous for crypto mining industry. Because there are many people involved in Bitcoin mining, the algorithm is getting harder and harder and Bitcoin is getting less and less.

TeraBitHoven

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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.

BitNotByte

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there's so many big mining farm now a days. If you're up against them and you're only mining using your own mining rig with a minimum number of gpu's, well I guess it's not surprising that you're getting a hard time in mining bitcoins.

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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?

Mining is the best profitable decent platform. But Bitcoin mining is not supported to make profit in current situation. So I am looking to choose Ethereum mining. This have decent profit platform. But it take more power supply and constant profit. Some of the countries are monitoring the mining platform. Because any time government take action in miners. Whatever happens in mining it make money day by day.

darshansetty

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yes we can make much money with the bitcoin if our hasch rate is more but now days the compitators are more in the bitcoin mining

jazpreti

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There’s a lot of competetion nowadays but yes we can still earn much money for mining bitcoin. But before you do that, you just have to invest very good computers to mine for bitcoin. If your computer is not that good, mining bitcoin will destroy your computer. But for me, i rather go to work bounties to earn bitcoin. Mining can ear bitcoin but not that much nowadays.

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Well the difficulty of mining keeps increasing so earnings from mining bitcoin has ever constantly decreasing. Plus for mining bitcoin you need to have the latest updated GPU and you obviously incur more cost on electricity, so obviously you're not in a profit stage in the beginning. You can get a little profit like after one/two years. But until then you'd have to take the burden of the expenditure on yourself. But if you're really looking to mine something, you can mine altcoins. They can be more profitable than bitcoin mining.

PhucS

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Mining Bitcoins is one of the most effective way to earn Bitcoins and earn a lot of profits. But it is only true a few years ago, it is not very effective now, profit is less, if compared to the initial cost is very little profit. The cause is that Bitcoin is becoming more and more popular, its high value attracts a lot of people and they want to make a profit by Bitcoins mining, it is becoming a competitive market, I think so

mondobitcoin

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Because when more people start mining bitcoin, the difficulty increases
However, today is still possible to make money with mining bitcoin, but you need a lot of good hardware and a lot of hash power
Is better to mine some alternative currencies, that have a lower difficulty and in the future the price may increase and give you a good profit

CHENIEN

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Mining on bitcoin is not easy as you can, it is made by some strategic method on how to earn and make your capital grow. Sometimes you earn a lot's but sometimes loosing. Mining is on how the way you gumble your capital by looking the chart format of price movement. But if you enter bitcoin mining you must adopt and accept the reality of the future risk. Not all the time you earn always. As what I've said you must accept of what ever happen in the future.

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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?

As you can see bitcoin mining is a competition. Last years there were only few that manage to mine. But look at the miners right now, they are so many. I don't know how much is the maximum per miner now but I thought so last year, I've heard a miner, he said he is getting about 700usd+ per month. That's good for mining.

rose8963

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Quote from: giogio0504 on January 15, 2018, 03:21:54 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?

Now it is more difficult to mine bitcoins then earlier, you need much more time. But price is grew up significantly, so when you mine you get more profit. so i dont think the situation changed dramatically.

Now that bitcoin is very valuable, the difficulty of digging bitcoins is immense, and you need to invest a lot of capital in specialized diggers to get a bitcoin out of this time. Recovering capital is quite difficult if you do not invest a lot at the beginning.

albert11

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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?

Mining bitcoin is one of the best way to earn more bitcoin. You can earn a lot from it within months. But this king of business requires a lot of equipment to invest with that is very expensive and consumes a lot of power making your electricity bill very high. In short, mining is also a good investment but also requires a full time monitoring to keep all your equipment. In mining you'll probably have to dedicate the processors of your system to the network to produce bitcoin.

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