Topic: Few questions about mining. - page 2. (Read 382 times)

Thank you for replying so quickly!

1.- Would you rather mine or invest into crypto directly?

2.- Do you recomend me to mine bitcoin or is it even harder to make money trying to mine bitcnoin? (I focused my "research" on altcoins, so I have no idea of the technical difficulties of bitcoins)

3.- About the last and penultimate answers; Is it impossible to make money mining altcoins or just very unlikely? Cause, what I understood with that last answer is it might be possible to make money (what I want is for it to make me any money. If it repays the investment sooner or later is of less importance for me, for me having invested 10k dollars and not making money but loosing it even more is a full defeat while making little money and repaying initial investment in two years is only partial defeat, partial victory)

Though if I just buy a 200/300€ GPU and it turns out not to be proffitable it wouldn't be such a bad thing cause I guess I could use that GPU for gaming (always optimistic)

According to this article

https://www.coindesk.com/eu-cant-ban-bitcoin-mining-over-energy-concerns-official-says/

mining seems to be perfectly legal in the EU. Now there are other countries in Europe apart from the EU, so if your country is outside of the EU, you would have to check specifically for your country. You may also ask in the local boards here on the forum, just to be 100% sure.


Even if you have cheap electricity, it is hard to make money mining Altcoins these days. Depending on the situation on the market, it might take you a lot of time to repay the initial investment, if at all. Just a thought: You might be better off using the money you intend to put into equipment and invest into crypto directly.


Great idea. You will risk a small amount of money, see if it is worth it for you, and learn during the process.


No need to waste time on books. Just buy a graphic card and start mining. You will learn along the way.

First off, I want to mine in a country from europe, and I think it is illegal to mine cryptocoins in certain countries. Where can I know if it is illegal to mine in the country I want to go to?

Second question is, I want to save around 10k dollars, probably more, to start building a mining rig. I just want to know, is it proffitable? Will I get my investment back faster if I invest more money or if I invest less? And, of course, is it proffitable? In the sense that, can it generate enough money to pay it's own energy consumption, internet usage and the space I'm planning to rent, while also giving some extra income?

Also, before going all out with this, I first want to test with like a cheap GPU, like aroung 200€ plus any other necessary equipment, to get some experience and familiarize myself with the software and needs.
Assuming a 400€ "test" investment, would that generate money worth it's own comsumed energy and internet broadband while at the same time generating an income, a beneffit? You know, I don't want to waste my money. I'm okay with taking risks, but a 0% chance isn't a risk, so if it's impossible I need to know before investing anything.

Also, one last question, do you recommend me any books to learn about this? Or any formulas I can use to calculate proffit based on GPU's speciffications? I'm good at maths and I'm okay with investigating some hundred hours of formulas and current price of cryptocoins. I want to go serious with this, and I didn't know who to ask.

Also, if you know a better place to ask, please tell me. I think there is a subreddit and a stackexchange about cryptocurrency?

Thank you in advance for all of your answers and for taking your time to help me, hope you have a nice day!