Topic: Do you think mining is still fair - page 8. (Read 11558 times)
Well I think if it suites your strategy you will go for it so its a personal decision. Well i'm not into it simply because it quiet hectic and requires a lot of experience but I am sure it always worth it if you try.
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 would say mining is still fair to those who can afford the powerful mining machines and super computers. For those who use just a PC, you are just wasting your time. in my opinion mining are still very fair and profitable, because it is only a matter of time to wait for the right time to sell. and maybe if the market is still very bad, mining products can be do for trading. but the calculation must be right, between the costs for the mining equipment and the results obtained must be the greater the results obtained.
Miners are still very important to us, they are one who could made our transaction either deposit or withdrawal become successful, without them, it simply blockchain never works. It sometimes we pay high fees in order to be priorities but its up to us if we want to or we are in the hurry and wait for few hours before it succeed. Never think it is unfair cause that's their job, and those fees could be enough to sustain their project.
for me mining is currently very unfair and also not profitable. because the cost of equipment is expensive and also needs adequate electricity. My money is not enough to buy it. I better trade.
indeed, mining is no longer profitable now, the increase in electricity costs makes the burden borne is not comparable to what is obtained, the price of expensive equipment is also a factor I do not do mining
in my opinion mining are still very fair and profitable, because it is only a matter of time to wait for the right time to sell. and maybe if the market is still very bad, mining products can be do for trading. but the calculation must be right, between the costs for the mining equipment and the results obtained must be the greater the results obtained.
I think it depends on your investments in it. It's more difficult now to start mining. There are mining pools like bitmain which control mining situation. I think it would be better to wait some time before the next bullrun.
In this case we are made uncertain and afraid of market conditions and ICO that are not conductive but negative thinking in the future will be bad. It's natural for us to worry because we want the best price, but we also have to remember that everything happens by itself or not from one person and we cannot blame anyone. I can only pray the best in the future and try to improve the quality of my investment in Cryptocurrency.
If you do not have a good mining gadget, then you might not be able to make good returns from mining.
In my country, there is an issue with power supply, which to me, is a very important tool in mining.
So for someone like me and one who lives in almost the same vicinity or country with me, might have that issues.
Some have decided to go for masternode than mining.
In my country, there is an issue with power supply, which to me, is a very important tool in mining.
So for someone like me and one who lives in almost the same vicinity or country with me, might have that issues.
Some have decided to go for masternode than mining.
Mining is completely unprofitable now due to the decline of the entire crypto market. When the price of bitcoin was in the peak invested into mining, now I was unable to pay the power consumption charge with the mined coins. So, it's been shutdown, and when I looked for selling the GPUs what's been quoted for an year old is just20% of my investment value. Now it is just covering some space in my home.
I think mining has become like a real business, he has outgrown the level garages and single installations for mining. Now it's a great system to earn money on cryptocurrency. All natural, I think nothing should be changed, there are always new coins for the mining, which is still some time will be profitable.
Mining for many reasons today is absolutely not profitable. I think that many people understand this moment and in most cases the cost of mining today is much higher than the result of the mining award.
I am sure that mining is no longer profitable. Because today, the cryptocurrency market is blown away like a bubble that has been inflated throughout 2017. Now we are getting lower and lower, how long will such a dive continue?
Those that have interest have no choice than dong it and if they all stop who will mine for continuity of the block and reward now is best for holding n long term to really gt the gain.
Mining is unfair now, and even if people have money to buy expensive equipments to mine, they will not have a profit because in the most of country the price of electricity is too high and if they sell what mine will result in a loss because the costs to produce 1BTC in a month is higher than the BTC price.
for me mining is currently very unfair and also not profitable. because the cost of equipment is expensive and also needs adequate electricity. My money is not enough to buy it. I better trade.
Our world reigns its own laws. The richer you are, the more you can afford. The same happens with mining. Prices for equipment and electricity are rising, the complexity of mining is increasing and the reward is getting smaller. To date, the cost of equipment and electricity (in my country) exceed the benefit that miners receive.
The situation is different for those who have money and influence. They have the ability to place equipment in countries where the cost of electricity will be minimal. They also have the opportunity to purchase mining equipment at more favorable prices than retail customers. All of this ultimately reduces their mining costs.
Yes, this world is often unfair, but we have no right to give up. We must look for other ways to make money.
The situation is different for those who have money and influence. They have the ability to place equipment in countries where the cost of electricity will be minimal. They also have the opportunity to purchase mining equipment at more favorable prices than retail customers. All of this ultimately reduces their mining costs.
Yes, this world is often unfair, but we have no right to give up. We must look for other ways to make money.
Mining has either always been fair, or never been fair. Nothing has changed in its fundamental philosophy.
Nonsense, that's a horrible egocentric belief. Mining was created so that networks are secure, nobody owes you anything.
It's true if the main role of miners to secure the network but you should remember when it comes to the 51% attack and then that will be a horrible thing. but it looks not fair for me personally consider the holders will depend on the miners even they are having some coins in the wallet. Quote
Mining was created to give ordinary people get some free coins.
Nonsense, that's a horrible egocentric belief. Mining was created so that networks are secure, nobody owes you anything.
Mining has either always been fair, or never been fair. Nothing has changed in its fundamental philosophy.
Nonsense, that's a horrible egocentric belief. Mining was created so that networks are secure, nobody owes you anything.
Quote
Mining was created to give ordinary people get some free coins.
Nonsense, that's a horrible egocentric belief. Mining was created so that networks are secure, nobody owes you anything.
Yes it is. If you started early enough to mine some bitcoins before, I think the amount that a mining rig that they uses nowadays will be equal to the expenses of the operation of the mining rig. The equipments that was used before already met ROI and exceeds it a couple of times. And now that it is still operating, I think the profit it produces is just the bonus.
Yes! I truly believe the crypto mining business is still viable and profitable. However, you will need to do some research and pick out coins with huge level of success. This way, you are sure of getting anything reasonable from your mining activities. Due the competition now available, more miners pouring into the industry, coins such as btc are no longer that profitable. One has to painstakingly research on a coin to find highly potential ones to mine. This is the only way that brings in returns.
Jump to: