Topic: Is It Still Profitable To Mine Cryptos In 2021 - page 4. (Read 643 times)
Remain optimistic that investment should be prioritized to achieve satisfactory results, especially for choosing coins to invest in as currently the price of BTC has jumped up this year from last year. This has become a target for all of us in mining BTC to make a profit, and I see several important business figures in the world have targeted their assets to invest in crypto. With this news, crypto will most likely benefit all, and of course, we have to look for strategies in taking action to choose crypto investments that are following current conditions.
I would not do that anymore.
It requires a huge capital to be able to start a new mining device.
Think about how long the ROI is?
Investors might be making profits right now by just buying Bitcoin rather than spending it with GPU's with prices that are soaring.
Trade or invest will be the better idea.
It requires a huge capital to be able to start a new mining device.
Think about how long the ROI is?
Investors might be making profits right now by just buying Bitcoin rather than spending it with GPU's with prices that are soaring.
Trade or invest will be the better idea.
for me it is no longer profitable. it's easier to trade them, than to mine. electricity costs, internet fees, and maintenance costs for RIGs are all currently considered. small results with large expenditures are not proportional to the profits. different when trading, the bull market makes all coins profitable.
Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.
Think deeply about the cost of electricity before you start planning on building mining rigs, also know that it's not a good time to buy graphic equipments because they are too costly, you can use the money for gtx1660 today to buy two pieces of gtx1660 months ago
In my opinion, there are advantages and disadvantages to mining crypto, how do we play it, because mining crypto every year has ups and downs so if we don't want to lose we have to mine properly and understand the work.
I mine 0xMonero and Raven
Individual miners are killed by the companies. they're running their tons of rigs and process the blocks by themselves. In other words, it's better to invest on your time to learn and hone trading skill than buying an expensive mining rig. It's not profitable anymore except you run more than 10 asic miner.
And the most important thing is, it's not good for the earth lol. The usage of electricity is too high. I better invest on a pos coin because I love the earth.
And the most important thing is, it's not good for the earth lol. The usage of electricity is too high. I better invest on a pos coin because I love the earth.
Mining is still profitable, but that is only if you can have a low fee in electricity and have the latest equipment for mining bitcoin or altcoin. Without that, I do not think you can get a nice return from the mining process. I know many of my friends who mining bitcoin and ethereum can't survive long because they need to pay the electricity cost, which is not too cheap. Besides that, I think you need always to upgrade your hardware to the new hardware, so you can get a nice reward from the mining.
I prefer to trading than mining because the money you want to use to buy the hardware will be useful for trading. Although you don't have high trading skills, you can expect to profit from trading, but you always need to try to buy low and sell high.
You need to set up many things before start mining, and that is not easy to do. The room for your hardware needs air conditioner to make the room doesn't heat because of the mining process.
I prefer to trading than mining because the money you want to use to buy the hardware will be useful for trading. Although you don't have high trading skills, you can expect to profit from trading, but you always need to try to buy low and sell high.
You need to set up many things before start mining, and that is not easy to do. The room for your hardware needs air conditioner to make the room doesn't heat because of the mining process.
For me I prefer to do trading or staking. Less expenses on energy consumption plus not hassle to monitor and manage. But I'm sure there are some areas benefiting through mining.
I remember my friend, whom working on a computer shop. The owner didn't know that he is doing mining on the shop and the guy is literally doing a free expense mining. But that's not good. I found an article where country have very low energy fee just forgot where it is.
There is more mining coins than trying to go the easier way like staking, I am a computer engineer and I've loved everything about CPU and GPU since a very young age, been able to make money out of PC is cool and fun at the same time, also freedom of mining is better than staking I remember my friend, whom working on a computer shop. The owner didn't know that he is doing mining on the shop and the guy is literally doing a free expense mining. But that's not good. I found an article where country have very low energy fee just forgot where it is.
For me I prefer to do trading or staking. Less expenses on energy consumption plus not hassle to monitor and manage. But I'm sure there are some areas benefiting through mining.
I remember my friend, whom working on a computer shop. The owner didn't know that he is doing mining on the shop and the guy is literally doing a free expense mining. But that's not good. I found an article where country have very low energy fee just forgot where it is.
I remember my friend, whom working on a computer shop. The owner didn't know that he is doing mining on the shop and the guy is literally doing a free expense mining. But that's not good. I found an article where country have very low energy fee just forgot where it is.
I don't think a small player can make money mining these Big coins and recently it is very difficult to see low to mid cap coin that is a Proof of Work (POW) project because of the 51 attack, if you have access o free or cheap energy you can give it a try but if not, I don't think it worth the try expect it is your hobby or betting on the future price of the coin
I believe it's kinda too late to start building mining rigs right now, even asic miners are skyrocketing in price, you can only get into crypto if you buy used cards and that's not advisable because used card can die on you at any time, a single RX580 8gb used to be around 170$ to 200$ in 2020 and now it's over 500$, for now look else where
You put the topic in the wrong thread bro, it should be placed here: https://bitcointalk.org/index.php?board=160.0
but I try to respond, you can visit this website
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=40&HashingUnit=TH%2Fs&PowerConsumption=1500&CostPerkWh=0.12&MiningPoolFee=1
maybe this tool can help you to calculated before to starts mining bitcoin or other altcoins.
but I try to respond, you can visit this website
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=40&HashingUnit=TH%2Fs&PowerConsumption=1500&CostPerkWh=0.12&MiningPoolFee=1
maybe this tool can help you to calculated before to starts mining bitcoin or other altcoins.
Mining rigs are expensive. I also wanted to do mine coins but there are just things to consider like electricity.
The ones that are easily mine are coins like IDENA because it just need solving a captcha and then you earn the coins which they consider mining. This could actually be a good coin to mine but needs constant monitoring since you have to solve arranging pictures which is how they are mined.
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
Despite the fact that mining consume high electricity and setting up a mining farm has not been cheap due to increase in demand of mining equipment and cost of setting up a mining has double in recent time. 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.
Mining rigs are expensive. I also wanted to do mine coins but there are just things to consider like electricity.
The ones that are easily mine are coins like IDENA because it just need solving a captcha and then you earn the coins which they consider mining. This could actually be a good coin to mine but needs constant monitoring since you have to solve arranging pictures which is how they are mined.
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.
How profitable mining depends on the various factors. imagine when you are having a lot of hashrate power and you can generate very good daily profit from your mining. It can't be said when crypto gets pump and you will be profitable to mine crypto and this is not how it's working. When the price increases the miners were putting more and more mining rig and that will make the difficulty will be increasing even higher too.
https://etherscan.io/chart/hashrate
It's an example and you must see that.
The difficulty will increase along with the pump that happened with the coin.
There are some areas or countries where the electricity price is really expensive, so mining cryptocurrency may not that so profitable, or in all, you may just lose because of the expensive electricity.
And for me, if cryptocurrency you will mine will just sideways or up only these days, yes it is still profitable. Just read some stories about what happened in the last bull run 2017 - 2018, a lot of miners got REKT, especially for those miners who started at the peak of the run.
And for me, if cryptocurrency you will mine will just sideways or up only these days, yes it is still profitable. Just read some stories about what happened in the last bull run 2017 - 2018, a lot of miners got REKT, especially for those miners who started at the peak of the run.
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