Is it still worth mining bitcoin in 2018 ? - page 3.

Sacredvineofspirits

newbie

Activity: 8

Merit: 0

Quote from: Kestenbetsa on October 29, 2018, 02:50:03 AM

Hi guys, could a random mining system work? I mean if the miner of the next block is choosen randomly intead of PoW what are the possibile drawback?

miner of the next block is choosen randomly intead of PoW what are the possibile drawback?

There is no way to allocate 'tickets' into the system without someone trying to create millions so that they can win. There is no easy way to identify 1 person 1 ticket to make the system fair. People will just create software to make it look like millions of people are entering for their chance at the random win but actually it will all be the same person.
This is why mining works, because you can't fake work.

Kestenbetsa

newbie

Activity: 7

Merit: 0

Hi guys, could a random mining system work? I mean if the miner of the next block is choosen randomly intead of PoW what are the possibile drawback?

miner of the next block is choosen randomly intead of PoW what are the possibile drawback?

latoyawsabj

newbie

Activity: 2

Merit: 0

If it's not BTC, there are still some pennies that can get you mining, but its profit is low and may not be profitable, but if you want to try you have to find and try them, or if you have a Rigs, can you try to use your rig to try to mining profit.

BAGOBO

legendary

Activity: 1163

Merit: 1005

Quote from: trimulia on October 28, 2018, 11:23:09 PM

maybe but depending on the GPU that is used, if only we were mining in 2009 would at least get 50 bitcoins per day even though with ordinary miner tools

the price really dropped. it is not profitable to mine when the market goes down because of the value of coins decreases which affects the selling value. mining requires big capital. preferably, you use your capital to trade or invest.

iMark

sr. member

Activity: 1162

Merit: 251

Quote from: sidebyside on October 28, 2018, 06:31:26 AM

With prices ranging from $ 6,000 to $ 7,000, I think bitcoin miners this year can still make a profit. But I think 2018 is a difficult year for bitcoin operators. Due to low price fluctuations and the payment of electricity bills, they make very little profit. But factories continue to build and grow and wait for more volatility in 2019.

for the long term I think bitcoin mining will not be as profitable as before, because difficulty will increase. at this time if the electricity
and maintenance costs are expensive, maybe the benefits you will get are quite small, especially if bitcoin rate is low

trimulia

full member

Activity: 518

Merit: 101

maybe but depending on the GPU that is used, if only we were mining in 2009 would at least get 50 bitcoins per day even though with ordinary miner tools

Zin-Zang

member

Activity: 364

Merit: 13

Killing Lightning Network with a 51% Ignore attack

Quote from: TitanAI on January 25, 2018, 04:06:45 AM

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

Answer is No.
Unless you meet the following criteria

1. Can get Venture Capitalist to donate millions of dollars to you for a % of the bitcoin mined

Odds are you won't really make any money off of bitcoin mining, but will earn more keeping a % of the VC money as an administrator fee.

It is why you see companies offer cloud mining , they make more money off of the suckers that pay them to mine bitcoin,
than off of mining bitcoins. Tongue

PoW mining is for chumps and VCs that can throw away millions and not miss it.

pearcy jackson

member

Activity: 560

Merit: 10

The longer, BTC becomes harder to mine, so if you want to mine BTC it doesn't matter, but the profit are small, and take a lot of your time. You may also need very large capital, and compete with BTC mining companies. try to mining altcoin. like XMR / XMV, this coin is resistant to ASIC, so it can maximize the profit of the miners CPU and GPU.

reverseflash

full member

Activity: 518

Merit: 100

Quote from: airdagon on January 25, 2018, 09:24:27 AM

Quote from: TitanAI on January 25, 2018, 04:06:45 AM

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

of course, I will always use it because it is still worth bitcoin use. but, if you want to feel in a profitable continue you can use high power to move it. I'm also sure of the upcoming time, all the chaos that happened yesterday will soon recover as usual in the near future.

My opinion is that in order to productively engage in Bitcoin mining at the present time, we need computing power exceeding asic`s in dozens, and possibly hundreds of times. If you want to do mining at home, then the right choice would be mining alcoins.

sirohige

hero member

Activity: 784

Merit: 500

this depends on where you are mining, because mining is the most important thing is the high electricity needs so you have to find cheap electricity, when in your country you still have cheap electricity prices then trading is still very valuable.

budi691

sr. member

Activity: 1274

Merit: 259

Quote from: Asa723 on October 25, 2018, 12:39:08 PM

Hi,
My opinion on this question is yes. It depends on how you work. If you work hard you will get better result. The value of the bitcoin will fluctuates. Today value is high next day it can be raise.

So, the hard work we do will not betray our results on bitcoin. as long as we are still trying, the opportunity to get better is still there.

SistaFista

sr. member

Activity: 1638

Merit: 251

Hexhash.xyz

Quote from: TitanAI on January 25, 2018, 04:06:45 AM

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

There is no other way to mining BTC other than mining with ASIC nowadays because the mining difficulty is very hard.
If you not mining with ASIC, you won't get any profit. But what the thing i dont like mining with ASIC is, you must update your ASIC from time to time.
If there is a newer ASIC than yours, your profit will be reduced.

Asusnumbaone

member

Activity: 246

Merit: 13

Quote from: TitanAI on January 25, 2018, 04:06:45 AM

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

Bitcoin mining for now is quite good and efficient because the price are not so bad or low and bitcoin mining is hard because it is like investment you need to expend lot of money to start mining and it is worth it to the future because you didn't have to do trading.

zeingrind777

full member

Activity: 994

Merit: 138

I don't know yet whether this year bitcoin is still worth mining or not. But in the mining process, you have to consider that the bitcoin that has been mined is 17,048,151 BTC from 21M BTC. This means you can expect to see some serious price increases because the number of BTC available for mining is reduced in the next few years.

Bitcoin_Delivery

hero member

Activity: 952

Merit: 500

Not at all because right now we will experience losses if we start now. between income and also BEP is very long. and risk if our engine will be damaged etc. calculate before you do this year

Captain Sneeze

member

Activity: 351

Merit: 11

It is still worth mining bitcoin in 2018, because it will never be too late if you can afford to buy an expensive mining rig and you are ready to pay an expensive electricity bill. If you are ready to invest, it will have a good payback later on but first you must invest. You dont have to worry about the market price because later on if you believe, it will rise.

laredo7mm

hero member

Activity: 1498

Merit: 537

Not at all because right now we will experience losses if we start now. between income and also BEP is very long. and risk if our engine will be damaged etc. calculate before you do this year

J Gambler

hero member

Activity: 910

Merit: 500

Quote from: TitanAI on January 25, 2018, 04:06:45 AM

My question is if it's still worth buying Asic's and start mining BTC in 2018.

If not mine BTC what other coin is it worth to mine nowadays?

it's still worth it to mine BTC. Why? Because that is the main source of BTC. You can mine BTC while investing them to long term trading systems. Don' t invest it on HYIP or Ponzi Websites. You can also earn some BTC in Gambling sites as well. But the best thing is to mine BTC on your own.

sidebyside

member

Activity: 245

Merit: 10

With prices ranging from $ 6,000 to $ 7,000, I think bitcoin miners this year can still make a profit. But I think 2018 is a difficult year for bitcoin operators. Due to low price fluctuations and the payment of electricity bills, they make very little profit. But factories continue to build and grow and wait for more volatility in 2019.

CryptoJedi1

newbie

Activity: 54

Merit: 0

I think GPU mining is better than ASIC these days because of the difficulty of mining Bitcoin. Personally, I prefer NiceHash. I use NiceHash on all my rigs and get paid in BTC. Whatever coin they mine, its upto them. Cheers...

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