Do you think mining is still fair - page 15.

eagleman

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Quote from: smoker36 on December 04, 2018, 03:22:20 AM

Well, I consider that mining could become demanded once again if banks will be ready to implement blockchain technologies for their transactions.

Mining is still in demand for those places that are reliable to have a cool temperature and not so expensive electricity.

And I don't hope for the banks to interact with blockchain technology, they don't like transparency.

kentrolla

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Quote from: yulchatar on December 03, 2018, 02:08:33 PM

Of course, mining is an expensive pleasure. When I started earning in crypto, I also considered this option of earning. But considering all the costs, I decided that it would be very expensive for me. And I'm not talking now only about the equipment but also about electricity and bills for it.

Exactly, Mining will give you benefit only if the value is high else it will not benefit also we need to invest a lot of money to buy the equipment which will be a huge amount. Only monero will give you some profit at this moment, the demand of mining will increase only if the banks accept crypto currency.

masterkiller

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For mining altcoin maybe yes, but not with Bitcoin, we can mining using ant miner or asic, but if we choose to mine Bitcoin, I don't think it's profitable anymore, because the costs are far greater than what we get, better mining altcoin like Ripple, NEO or stellar may cost much less than mining Bitcoin

smoker36

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Well, I consider that mining could become demanded once again if banks will be ready to implement blockchain technologies for their transactions.

FreeAirdrops

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Infleum

I'd like to see the whole market move away from mining. It's just a power hungry ecological disaster.

debby070

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Quote from: BountySoldier on September 11, 2018, 03:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

Recently, the bitcoins mining performance and cost is reduced and I think it is due to the hardfork by the bitcoin cash. Though, the mining cost is decreased, it is still profitable but in a place where the electricity cost is not that much.

fuer44

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no, the fall of the crypto market is not balanced with the cost of electricity bills. the crypto market falls, but the cost of electricity remains the same as the previous usage cost. meaning there is no synchronization here between costs and income.

NaXxow

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I am mining crypto just for fun, and yes the price is not fair, but I think it will sooner or later. The market is still young and I doubt it will be doom. If that will happen, well we just have to move forward, but I greatly doubt it will happen.

EmmanCryp

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Quote from: BountySoldier on September 11, 2018, 03:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

It's normal for POW mining network difficulty to increase as more people join the picture. We can compare it to two cases when 5 people are competing for a price compared to when 50 people are competing for the same prize.

twa

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for now I don't think the results with mining costs are unbalanced or in other words a loss but we all also can't know for sure what the future development will be

Utuhikan

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In my opinion, mining is still fair because mining is getting coins for free and of course large and expensive coins must be paid with capital that is also appropriate. Indeed competition in the mining world is tighter because more and more people want to get potential and expensive coins for free. Of course this is also balanced with capital for mining which is getting bigger because the demand for mining is also getting bigger. No wonder mining becomes a business under large companies. Indeed this situation is a test so that when you surrender from mining now you will regret later that you have missed an opportunity. Although it requires more capital than before but we must diligently get what we want. We should always think for the long term because if we only think in the short term then mining is certainly not fair. That's what becomes poison in our minds.

Inastran

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Quote from: GunsLair on December 03, 2018, 01:53:24 PM

Some time ago I was also engaged in mining but then I abandoned this idea, as I considered it unprofitable for myself. And watching the situation now, I made sure that I did the right thing.

i sam sure that it os fair and people have a right to do what they thing is good to do at the right moment and with their business

JeromeL

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Quote from: GunsLair on December 03, 2018, 01:53:24 PM

Some time ago I was also engaged in mining but then I abandoned this idea, as I considered it unprofitable for myself. And watching the situation now, I made sure that I did the right thing.

Mining is especially beneficial if you have cheap electricity. It is also important to successfully choose for mining coins that are best mined on your equipment.

Gasolindance

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yamzu

In my opinion it's too late for mining. People just making invests and trading instead of mining now. And I think it's better, than buying such farms and spend really much resources for mining.

yulchatar

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Of course, mining is an expensive pleasure. When I started earning in crypto, I also considered this option of earning. But considering all the costs, I decided that it would be very expensive for me. And I'm not talking now only about the equipment but also about electricity and bills for it.

Ging

sr. member

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i really had just ended a telegram chat about mining Bitcoin, i am really thinking about mining i think in this blood bath as you mention before
but can someone please provide a good and reliable sources ps i prefer mining networks that mean i dont like mining equipments and so.

Inastran

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Quote from: BountySoldier on September 11, 2018, 03:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

i do not kjow i am just not so sure about it and i zm sure taht there are many hetter ways to think of something profitable

GunsLair

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Some time ago I was also engaged in mining but then I abandoned this idea, as I considered it unprofitable for myself. And watching the situation now, I made sure that I did the right thing.

smoolae

full member

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Mining is as fair as it has always been.
The thing is that a lot of years people really didn't know much about it. There was this so-called info blockage - mining and cryptos weren't as interesting for media to cover than other news. Thanks to that a lot of people could mine rather well using their GPU rigs and ASICs from first generations.

This lasted up to winter 2017 and then it went into masses as something that is mega easy to do for earning some extra income. And you probably know how it went from there...

kiranarora

newbie

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If the market status is to be seen, then more struggle should be done only if there is good results.

Topic: Do you think mining is still fair - page 15. (Read 11590 times)