Is It Still Profitable To Mine Cryptos In 2021 - page 2.

Pelana vreo

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Quote from: serjent05 on February 24, 2021, 03:08:37 PM

If mining isn't profitable then we can't see Bitcoin transactions being confirmed or any altcoins that needed POW for confirming transactions. There are other low difficulty POW coins that are available to mine on the market which can really give us a good profit. As long as you set up your own mining device and the electricity charges aren't high, we can assume that we can still say that mining is still profitable.

I agree with you, there are many miners who have benefited from ethereum transaction fees which have increased to date. In the future miners will still be there to confirm every transaction using POW, unlike the POS algorithm, prices or shipping costs are no longer high because the miners only get a tip from each transaction.

Jocuserious

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Actually i have not fell any interesting for mining because i am very impressed for trading so almost lot of time i have been spend in trading. Anyway crypto is very profitable for mining so you can spend your cash. If you have good quality skills about mining then you can do. Crypto is worth but you should receive right choice.

blockman

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Quote from: ?? on ??

Actually, I have not felled any interest in mining because I am very impressed with trading so almost a lot of time I have been spent in trading.

If you're good at trading, you have to keep doing what you have started there. Because you know how to trade, you can make a lot from it and just as the same as in mining, they're also profitable.

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If you have good quality skills in mining then you can do it.

Well, building a rig is one skill but after that, you just let your rig mine the coins for you.

serjent05

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If mining isn't profitable then we can't see Bitcoin transactions being confirmed or any altcoins that needed POW for confirming transactions. There are other low difficulty POW coins that are available to mine on the market which can really give us a good profit. As long as you set up your own mining device and the electricity charges aren't high, we can assume that we can still say that mining is still profitable.

mersal

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Quote from: motun01 on February 11, 2021, 07:37:56 PM

I have always been interested in mining cryptocurrency in a very long time and my biggest obstacle has always been the financial resources to purchase mining rigs and electricity required however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin so I am pumped to ask that with the recent pumps in crypto prices and everything going to the moon is it profitable to mine Bitcoin in 2021 or any other altcoins please let me know.

Yes and no, if you are going to mine a coin with your low hash rate rig then you are going to make less than what you are paying for your electricity so mining need huge capital so that you can build multiple rigs to mine something which is valuable and also it depends on which coin you choose to mine. If you select ethereum then it is not going to be profitable for sure.

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Quote from: Apostlekin$$$ on February 18, 2021, 12:00:16 PM

Yes crypto mining is currently very profitable, it's all about making back your ROI in short time, if you buy a gpu right now and you mine 24/7 I can assure you that in 5 months you would make your money back, yes crypto mining is that profitable right now, I bought a gtx1660 ti for 300$ and I've already made 150$ back right now, that's half of my invested money already

That depends on the various things, you are not even getting your ROI and that means that's not so profitable as you said dude, the question is how long you have been mining your coin? You are still 50% from your ROI. There is also possibility for the difficulty to increase again soon.
Mining is not so profitable as it was before due to the various reason just like price increase, demand for POS and many more.

Apostlekin$$$

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Yes crypto mining is currently very profitable, it's all about making back your ROI in short time, if you buy a gpu right now and you mine 24/7 I can assure you that in 5 months you would make your money back, yes crypto mining is that profitable right now, I bought a gtx1660 ti for 300$ and I've already made 150$ back right now, that's half of my invested money already

Dollar_Hunter

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Quote from: kevinzxz on February 18, 2021, 11:29:20 AM

Quote from: Ken_terrance on February 12, 2021, 01:17:17 AM

Yes mining is presently very profitable if you have free electricity or cheap electricity, also to get your ROI back faster you must mine every hour of every day, the most profitable coin presently is Ethereum

I agree with you if mining Ethereum is very profitable for now, but in my opinion with gas fees and the current price of Ethereum, then of course electricity costs are not a problem, because I believe we will still get profit from mining Ethereum for now, so my advice is you better mining right now before it's too late, because if you do mining right now, then you will be quick to return the capital that you spend on mining.

Before mining Ethereum, make sure we have the equipment and to buy it, of course it requires a lot of capital,
even though the equipment can be said to be expensive, the profit from mining ethereum can cover the expenses,
what is certain is that it all depends on whether or not they are involved in mining

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Quote from: Ken_terrance on February 12, 2021, 01:17:17 AM

Yes mining is presently very profitable if you have free electricity or cheap electricity, also to get your ROI back faster you must mine every hour of every day, the most profitable coin presently is Ethereum

I agree with you if mining Ethereum is very profitable for now, but in my opinion with gas fees and the current price of Ethereum, then of course electricity costs are not a problem, because I believe we will still get profit from mining Ethereum for now, so my advice is you better mining right now before it's too late, because if you do mining right now, then you will be quick to return the capital that you spend on mining.

Mauser

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With bitcoins being above 50,000 USD it might be profitable again for some people to mine coins. I think it depends on two factors. First if you have the right setup to mine. If you already have the hardware in place to mine the coins than you are better off. Buying all the infrastructure from scratch is very expensive. And the second factor is your energy bills. If you have access to cheap electricity than go for it. Otherwise the costs might be just too high.

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Quote from: kaya11 on February 17, 2021, 06:14:08 PM

Mining in n crypto is good investment if you have the knowledge of how to build pc, where to buy cheap equipments, if you have low electricity cost, and cold weather for gpu not to reach over heating anf many more factors. I have been mining for some time and it paid off. I guess it's one of the ways I help and support the chain. It's never too late, comr enjoy and have fun. By thr way I am mining with gpi cards (AMD).

I am not sure mining today is very profitable, let alone using a PC or the like, many cryptocurrency projects are moving from POW to POS and DPOS. I don't really know consensus, but generally POS and DPOS consensus is the best consensus than POW because it mines coins without needing to use electricity. So, if there is something easier why mine with electricity?

imstillthebest

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Quote from: motun01 on February 11, 2021, 07:37:56 PM

however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin

what exactly is that remaining cryptocurrencies your talkin about because there are thousands of them after the bitcoin and bitcoin is the only crypto that are hardest to mine but for the remaining you can possibly mine them effortlessly but dont expect that you can get a good return because their difficulty isnt also hard anyway but that should be enough for you because you only wanted to try and experienced what is like to mine your own coin but if you want to make mining a serious thing you need to join or apply to a huge mining business or work hard and buy the best mining equipment for your own personal use .

memyselfandi

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I think so. But I read some article saying that there are some countries that is already using a high end mining rigs. So maybe if you will invest and buy that advanced and high tech. mining rig, there is a great potential waiting for you in crypto mining industry.

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Quote from: motun01 on February 17, 2021, 07:29:47 PM

The subject of mining cryptocurrency right now especially bitcoin is something that is up for big debate because in some areas it is profitable and in other areas it is not profitable for example if you have cheap and stable electricity in very much supply then you can economically mine bitcoin and other crypto-currencies and make profit but if you don't have cheap electricity like most part of the world and you have to pay a lot for your legs so then bitcoin may not be profitable to mine right now however I believe it's taking and trading are much better ways of making profit quicker and faster in the crypto market

To some extent I disagree with this analogy because I believe that it is only the big mining firms that make a lot of profit from mining cryptocurrency and this is because no matter where you live in the world electricity is almost never trip so considering the carbon footprint of mining over the past few years I believe in enough for you to make good profit from mining cryptocurrency you have to be mining it on a large scale Farm an individual like you I would advise you focus more on staking or trading

motun01

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The subject of mining cryptocurrency right now especially bitcoin is something that is up for big debate because in some areas it is profitable and in other areas it is not profitable for example if you have cheap and stable electricity in very much supply then you can economically mine bitcoin and other crypto-currencies and make profit but if you don't have cheap electricity like most part of the world and you have to pay a lot for your legs so then bitcoin may not be profitable to mine right now however I believe it's taking and trading are much better ways of making profit quicker and faster in the crypto market

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Quote from: motun01 on February 11, 2021, 07:37:56 PM

I have always been interested in mining cryptocurrency in a very long time and my biggest obstacle has always been the financial resources to purchase mining rigs and electricity required however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin so I am pumped to ask that with the recent pumps in crypto prices and everything going to the moon is it profitable to mine Bitcoin in 2021 or any other altcoins please let me know.

if you want to mining Bitcoin then you need a bigger capital than you mining Ethereum, because mining Bitcoin can only use ASIC and the price is very expensive, but if you want to mining Ethereum then you only need VGA (minimum 6gb) and if the price of cryptocurrency go down (bear run), then you can sell your VGA, because there are still many people who are interested in buying a used VGA and VGA is not only used to mining Ethereum, while ASIC can only be used to mining Bitcoin and besides that the electricity used to mining Bitcoin is more expensive than mining Ethereum.

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Mining in n crypto is good investment if you have the knowledge of how to build pc, where to buy cheap equipments, if you have low electricity cost, and cold weather for gpu not to reach over heating anf many more factors. I have been mining for some time and it paid off. I guess it's one of the ways I help and support the chain. It's never too late, comr enjoy and have fun. By thr way I am mining with gpi cards (AMD).

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Quote from: optimisticcm on February 13, 2021, 02:42:24 PM

Yes, I think bitcoin mining is a profitable business these days but you should know that bad days will also come when there will be no profit and even loss especially during bearish market but at the moment as market is growing miners are making good money but we all know this business is not that profitable like it used to be in the past.

Given the current value of the cryptocurrency, mining is now very profitable. And this applies not only to bitkin, but also to the rest of the cryptocurrency. After ethereum reached the price of $1000, I took out my outdated hardware that I used in 2017-2018 with cards 1066 and resumed mining ETH.

ReliabilityAlert222

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Yes mining is presently very profitable if you have free electricity or cheap electricity. The most profitable coin presently is Ethereum. But the truth is people are still setting up new mining ring because as the price of bitcoin skyrocket so is gas fees so mining is still profitable.

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If you are ready to spend some cash why not? Crypto mining is Profitable for both long term and short term even if there is no more bullrun you can mine and keep holding instead of buying, it's pretty much the same but making cash out of PC parts is great

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