Do you think mining is still fair - page 3.

whaawh

sr. member

Activity: 714

Merit: 251

Quote from: Wolfwar on April 08, 2019, 01:51:09 PM

Quote from: 19Nov16 on April 08, 2019, 06:48:32 AM

Quote from: joseyphil82 on April 08, 2019, 03:59:37 AM

No I don't think mining is worth it anymore because the cost of electricity is high and that's where all your profits are going ,so why mining? My rigs are gathering dusts and I prefer it that way ,maybe if mining become profitable again then I will start mining again

Mining in my place can be profitable if the bitcoin price is at least $ 8000 (which I have used is Antminer S7 from Bitmain), the hardest thing about mining besides electricity costs is the difficulty of getting a pool, because there are many large mining companies.

Many users of cryptocurrency have long stated that as soon as the price of Bitcoin fell below $ 5,000, the mining stopped being relevant for many users in this field of activity. Perhaps the situation will change when the market shows green light more aggressively.

but nevertheless, mining today is done only by those users of cryptocurrency who truly believe in the potential of cryptocurrency in the future. Of course, one enthusiasm will not go far, but for this you need to have enough money. Perhaps that is why today large companies that have been mining before remain in this business and continue to do their work.

Wolfwar

member

Activity: 630

Merit: 14

Quote from: 19Nov16 on April 08, 2019, 06:48:32 AM

Quote from: joseyphil82 on April 08, 2019, 03:59:37 AM

No I don't think mining is worth it anymore because the cost of electricity is high and that's where all your profits are going ,so why mining? My rigs are gathering dusts and I prefer it that way ,maybe if mining become profitable again then I will start mining again

Mining in my place can be profitable if the bitcoin price is at least $ 8000 (which I have used is Antminer S7 from Bitmain), the hardest thing about mining besides electricity costs is the difficulty of getting a pool, because there are many large mining companies.

Many users of cryptocurrency have long stated that as soon as the price of Bitcoin fell below $ 5,000, the mining stopped being relevant for many users in this field of activity. Perhaps the situation will change when the market shows green light more aggressively.

19Nov16

sr. member

Activity: 1722

Merit: 252

Quote from: joseyphil82 on April 08, 2019, 03:59:37 AM

No I don't think mining is worth it anymore because the cost of electricity is high and that's where all your profits are going ,so why mining? My rigs are gathering dusts and I prefer it that way ,maybe if mining become profitable again then I will start mining again

Mining in my place can be profitable if the bitcoin price is at least $ 8000 (which I have used is Antminer S7 from Bitmain), the hardest thing about mining besides electricity costs is the difficulty of getting a pool, because there are many large mining companies.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: fianaindriati on March 30, 2019, 05:53:56 PM

Quote from: asder250 on March 30, 2019, 05:43:13 PM

It is fair, now, when the market crashed. And I think that crypto crashed due to CME and CBOE futures because these platforms show us the real value of Bitcoin and not the price which was pumped by Tether and fake volume on cryptoexchanges.

many people are currently retreating because of the declining market conditions. because they are certainly not sure about the progress of crypto that will happen in the future.

This time they are feeling better than before consider a slightly increase in the cryptocurrency can bring more value to the miners and i hope the year that miners will become a big trend will come again. it looks like true if we are seeing the market right now and some big miners interested to join in the bitcoin mining again

joseyphil82

member

Activity: 742

Merit: 16

No I don't think mining is worth it anymore because the cost of electricity is high and that's where all your profits are going ,so why mining? My rigs are gathering dusts and I prefer it that way ,maybe if mining become profitable again then I will start mining again

florac9

jr. member

Activity: 280

Merit: 2

☀️ Iskra Coin ☀️

The coins you are mining might not have any value now because of present market condition but if market start surging the coins will increase in price so don't bother to stop mining ,what matters now is quantity of coins you mined

alberdina

member

Activity: 644

Merit: 10

Mining also experienced a very difficult period due to the impact of falling coin prices. In my opinion, mining is no longer profitable and I have more to invest in the best coins. But if you still want to work hard I think one day you will also succeed.

Fedots83

full member

Activity: 462

Merit: 103

Quote from: BountySoldier on September 11, 2018, 04:33:30 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?

Unfortunately, now work with mining brings too little income. Therefore, we are all waiting for the rise in price of coins next year. Because otherwise, such an investment in the purchase of equipment can be a rather dubious decision.

Wong Gendheng

sr. member

Activity: 1428

Merit: 252

Mining depends on price and cost, I mining bitcoin since 2016 with 3 units of S7 from Bitmain, prices that continue to drop make it difficult for me to profit and I stop in August 2018, I hope this year can reach at least $ 7500 so I will mining again.

george_hured

full member

Activity: 644

Merit: 101

It seems to me that today there is a profit, especially that soon there will be a halving of the reward for receiving the BTC block. This will further spur prices to increase cryptocurrency turnover. I think that all this will be exclusively improved only for the better.

Badhuamin

full member

Activity: 420

Merit: 100

In the past year it was very difficult to make a profit because almost every month there was a deep decline and at that time I closed all the assets I had in mid-year and started again earlier this year.

chanc3r

sr. member

Activity: 952

Merit: 253

Quote from: integrity42 on March 30, 2019, 03:28:00 PM

Quote from: Wewe Gombel on March 30, 2019, 12:36:47 PM

I think not, the market condition that is still red until now makes many mining companies go bankrupt, especially the pool is getting harder.

Now, much depends on mining in the cryptocurrency, too, and if people start to mine less and less, the market condition will deteriorate

More people to do mining means if the difficulty will increase and that means if the price of coin will get a huge impact too. As far as i know about the fact that mining will determine everything in the cryptocurrency.
So many miners in competition to get more hashrate power.

powerman24

member

Activity: 448

Merit: 12

It depends on the mining difficulty, the price of the coin you are mining and on the electricity costs which vary country by country. With current market mining is struggling and not profitable only for those using low cost electricity.

kleshovab7

jr. member

Activity: 238

Merit: 1

Mining is primarily an investment. There is profit. There is a loss. But the price of cryptocurrency will not fall very much otherwise everyone will stop mining and cryptocurrency

biznes35

sr. member

Activity: 714

Merit: 253

I think that mining is not fair now for people who just get started. This niche is occupied with big companies and pools.

galundan9

full member

Activity: 700

Merit: 100

Quote from: integrity42 on March 30, 2019, 03:28:00 PM

Quote from: Wewe Gombel on March 30, 2019, 12:36:47 PM

I think not, the market condition that is still red until now makes many mining companies go bankrupt, especially the pool is getting harder.

Now, much depends on mining in the cryptocurrency, too, and if people start to mine less and less, the market condition will deteriorate

it is likely that this is because the results in the mine only get a little, but in my opinion if the demand on the market gets bigger but the people who mine less can still increase the price, because of the limited supply and the huge demand.

fianaindriati

sr. member

Activity: 700

Merit: 250

Quote from: asder250 on March 30, 2019, 05:43:13 PM

It is fair, now, when the market crashed. And I think that crypto crashed due to CME and CBOE futures because these platforms show us the real value of Bitcoin and not the price which was pumped by Tether and fake volume on cryptoexchanges.

many people are currently retreating because of the declining market conditions. because they are certainly not sure about the progress of crypto that will happen in the future.

asder250

full member

Activity: 708

Merit: 103

Empowering crypto w/ sustainable energy

It is fair, now, when the market crashed. And I think that crypto crashed due to CME and CBOE futures because these platforms show us the real value of Bitcoin and not the price which was pumped by Tether and fake volume on cryptoexchanges.

princerepon

full member

Activity: 994

Merit: 101

Quote from: BountySoldier on September 11, 2018, 04:33:30 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?

You are absolutely right. It's too difficult to mine because of mining cost. Right now market is too down but think if market will going up you can make your profit though. just right now you have to collect it and save or hold for big prize. for single miner it's too difficult but those people whom mining in a group, yes it's totally easy and safe way to earn some money.

integrity42

full member

Activity: 476

Merit: 100

Quote from: Wewe Gombel on March 30, 2019, 12:36:47 PM

I think not, the market condition that is still red until now makes many mining companies go bankrupt, especially the pool is getting harder.

Now, much depends on mining in the cryptocurrency, too, and if people start to mine less and less, the market condition will deteriorate

Topic: Do you think mining is still fair - page 3. (Read 11558 times)