IS CRYPTO MINING WORTH ? | Bitcointalksearch.org

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legendary

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Quote from: Pamadar on May 04, 2019, 01:06:50 PM

Quote from: ShowOff on May 04, 2019, 10:28:50 AM

Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

Some people said that mining will be good in a place that have low cost of electricity. Because it will affect on your earning when mining coin. Beside pick a good coin that will make a profit, research about your place first is good. And it is good to do some research to other factor that will affect on mining rewards before we do mining.

That's how everyone here thinks about this matter, knowing all the grounds and make sure that you'll be able to review and research things that may affect your decision making, you need to make sure that you undergo with deep research and study about the market situations.

Especially mining. Because some electronic things decreased its price when we want to sell it again. Some of my friend attracted from seller who said to them if after mining, their tools will can easy to sell but it is not like what they expected. So, risk must be think first before do something like mining.

lionheart78

legendary

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Quote from: fndsr on May 03, 2019, 12:43:04 PM

if you have minimum funds, I suggest for Clound Minning only, with Clound Mining you don't have to bother to prepare mining tools, but the profit you get depends on the hashrate you buy

I tried this service, and personally this is not the way to go. Cloud Mining is proven to be not profitable. Even renting hashes often times is unprofitable unless you are planning to hodl until the price of the coins you are mining to go up.

Profitability on mining greatly depends on the electricity cost. If you are living in a low rate electricity country then it is worth crypto mining but if it is the opposite, then I guess better buy tokens or coins in the market.

passwordnow

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?

Yes, mining is still worth it if you're too considerate about the electricity on your place. If it's kinda cheap, you're definitely on the right place to mine and it is a bonus if the climate and weather there seems to be good. For the best coins to mine https://whattomine.com/

Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

How much your budget would be? that's the first question that you should answer so that everyone can estimate on what are the potential hardware (ASIC/GPU) you should be able to purchase. Also check the Mining (Altcoins) for this kind of topic.

Pamadar

legendary

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Quote from: ShowOff on May 04, 2019, 10:28:50 AM

Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

Some people said that mining will be good in a place that have low cost of electricity. Because it will affect on your earning when mining coin. Beside pick a good coin that will make a profit, research about your place first is good. And it is good to do some research to other factor that will affect on mining rewards before we do mining.

That's how everyone here thinks about this matter, knowing all the grounds and make sure that you'll be able to review and research things that may affect your decision making, you need to make sure that you undergo with deep research and study about the market situations.

wuvdoll

legendary

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I have been checking the same thing for a long time as well. I have been around crypto for over 6 years and I have seen the insane increase in bitcoin mining and how it became some industrial thing instead of a daily hobby thing for people. I wanted to wait out until the technology could reach to its potential first and than calculate what could be done. I am not saying mining can't improve more from now on, I am just saying the potential for higher was available at the time and it was obvious it would go up very quickly so I waited that.

Now that we are here I am checking and I can't really see too much in mining, you can still do it, the pools and machines and software are all better nowadays so you can do it easily at least (was a bit difficult back in the day) but unfortunately the profits are not really lucrative.

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legendary

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

Some people said that mining will be good in a place that have low cost of electricity. Because it will affect on your earning when mining coin. Beside pick a good coin that will make a profit, research about your place first is good. And it is good to do some research to other factor that will affect on mining rewards before we do mining.

asbak66

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It depends on what coin you mine, cause I'm not miner I don't know what coin is good to mine, maybe you can mine coin on the top 50 on coinmarketcap for safety.
But if you really want to mining, you must calculate the currency price, electricity, the miner machine etc.

coinnumber

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It will be more beneficial to go for trading now instead of rummaging through a endless work with little or no benefits, mining requires a lot of funds to start up such as buying the mining machines, power supply consumption and many others while trading only need time and understanding and the profits are always unpredictable.

cryptonx

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Futurov

Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

you can go to this mining sections, if you want to know about mining on cryptocurrencies my friend
https://bitcointalk.org/index.php?board=160.0

anyway, in my opinion for now trading is better than mining my friend
if you trading, you don't need to buy a hardware,
just learn about trading seriously, i believe soon or later you will understand how to trade correctly

trauchot

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At the moment, yes, when bitcoin was 3k$ and ethereum was 80$, then there were big problems for miners and many people decided to quit mining because mining didn’t make a profit at that time, but now the market has started to recover and it is already possible to mine for make a profit.

anatolij.shishkin

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I belong to those people who believe that mining is dead. We refused to mine with friends many years ago. Because it is not very profitable. Well, you discourage $ 3000 for a couple of years. This is the case if your video cards do not pop up.

Osarman

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

Well, I won't advise you to go into mining unless you want to go in big, because mining is no longer as profitable as it used to be in past times, and for now in order to make profit in mining you will need to own lots of miner in your possession, unless the cost for electricity in your country is not so much, then you can own just a few miners and still make some profit off it, it all depends on the cost of power in your country, over here power is very expensive.

maxreish

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I can tell you that it is not worth to mine now. It is not profitable anymore like before. But if you are really decided to proceed with mining. Always consider things like.choose potential coin to mine , the GPU and how much the electricity it consumes.

Since you are a beginner, read this guide: https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064

Goodluck!

Menawi12

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

I think mining crypto still worth as long the electricity tariff reasonable and the price of coin worth compare with our cost. Right now many miners selling their equipment at cheaper price and if want to mining, its worth to buy and start mining coin

Alucard2425

copper member

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I think mining is still worth it because their are still a lot of good coins to mine that has great potential in market in a long run, before I am mining ETH now i switch to Veil coin because the difficulty in mining is still low and the good thing about this CRYPTO Coin is it has a huge reward in staking Cheesy

IVEXO

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If you can do it the right way
I believe crypto mining is worth it

In crypto currency mining ; you need to work smart and not work hard
So get the right farming equipments

poodle63

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

Buy ASIC and don't buy or create GPU mining rig if you wanna get maximum profit. That's more effective than build GPU. The latest mining report says ASIC miners if very profitable and at the first, you must decide what are you looking for that. A single asic miners is much better than a few GPUs.
https://www.asicminervalue.com/
https://decryptmedia.com/6800/asic-mining-cryptocurrency-china-cloud-mining-bitcoin
that report based on the tokeninsight's analysis.

Aniwura

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Quote from: Aleeyou on May 03, 2019, 09:20:28 AM

Hello , i want to know if mining is worth it and what are the best cryptos to mine ?
What kind of hardware is worth to buy with a minimum budget, I've done some research online but the numbers are not the same , any suggestions would be good.

I have also tried to go into mining, but it is not what i can do successfully particularly where i am located. No matter how good the coin to be mined might be or even the package it might come with, i cannot venture such. One of the major problem i am encountering is electricity. So you have to out some factors into consideration. If you find them favourable, you might then consider mining BTC.

Oceat

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Quote from: IParn on May 03, 2019, 01:46:31 PM

I would not advise mine right now. Because the equipment is expensive and electricity too. This has become a very unprofitable business. Even China wants to give it up. I see no point in mining if you can trade.

The only problem why China wants it to stop is because of the strong power consumption but if OP had a better power source like a solar power source. And also it depends on what crypto does OP want to mine, but just like what you have said it is not the best time to enter the mining business since the equipment is getting expensive everyday.

mrdeposit

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That depends on the situation. Which coin/token will make a profit, the price of electricity at your country and so on. I am not interested in mining, but it is clear to all of us that it is not as profitable as in the past.

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