If you compare it to cloud mining then it's safe to invest in ASIC mining. Cloud mining is likely fake and most of them are scams you must be aware of those things.
20 s19 pro that is many you can't just run them directly to the home outlet you need to have a proper setup of your small mining farm and before you invest take note of your current electricity rate like other said above.
If you to get some idea then I suggest to read this thread below.
- https://bitcointalksearch.org/topic/first-timesmall-miner-reference-for-getting-started-4636521
If you are looking for an ROI calculator that includes hardware and power cost then check this one below.
- https://www.mycryptobuddy.com/BitcoinMiningCalculator
Topic: Investing in mining during a bear market - page 2. (Read 469 times)
Is it safe to invest in bitcoin mining right now, given that we are in a bear market? Is it safe to invest in anything other than bitcoin mining (tokens/nfts) if not? I intend to make a long-term investment with no plans to liquidate anytime soon, and I have the ability to purchase up to 20 S19 Pro 110T (just an estimate).
Why does almost no one provide us the most important bit of information needed when they ask this kind of question: What is the cost of electricity where they are thinking about mining? That is the single most important thing to factor into a decision to mine....Only if you have low cost electricity does one move on to the next question: Do you have a place to setup and run these VERY noisy, hot miners? Do remember that all that power going in comes out as heat. A LOT of it...
Like most things in Life the answer to your vague question is not a clear cut, binary, yes or no. You need to think about all it entails.
Is it safe to invest in bitcoin mining right now, given that we are in a bear market? Is it safe to invest in anything other than bitcoin mining (tokens/nfts) if not? I intend to make a long-term investment with no plans to liquidate anytime soon, and I have the ability to purchase up to 20 S19 Pro 110T (just an estimate).
The bear market will end sooner or later, you can simply invest your available funds in the purchase of bitcoin and just store it, because if you are in the territory of the European Union, then investing in the purchase of miners may face a problem of restrictions in the future, judging by what they offer: https://www.theblock.co/post/177966/eu-commission-warns-crypto-mining-may-be-halted-in-energy-emergency
It's not that it can't be profitable to mine bitcoin in the current bear market.
A few days ago, the total hash power of bitcoin reached its all time high. That wouldn't happen if mining couldn't be profitable.
Whether mining is profitable for you or not highly depends on the price of electricity in your country.
You can use mining profit calculators like whattomine or asicminervalue to see whether it's worth to mine bitcoin for you or not.
A few days ago, the total hash power of bitcoin reached its all time high. That wouldn't happen if mining couldn't be profitable.
Whether mining is profitable for you or not highly depends on the price of electricity in your country.
You can use mining profit calculators like whattomine or asicminervalue to see whether it's worth to mine bitcoin for you or not.
Is it safe to invest in bitcoin mining right now, given that we are in a bear market? Is it safe to invest in anything other than bitcoin mining (tokens/nfts) if not? I intend to make a long-term investment with no plans to liquidate anytime soon, and I have the ability to purchase up to 20 S19 Pro 110T (just an estimate).
Jump to: