Mining won't end. But mining with a profit certainly will for many if not most people.
It's all a gamble but most likely by the end of this year only the people with the cheapest electric will be able to mine profitably. There are just too many people pouring into it now, difficulty is shooting up and all it will take is for the currencies to stop rising for a few months and then it will end up costing more in electricity than you can make, unless you paying 10 cents a kw or less. The current good times are definitely not normal and not expected to last.
If you have cheap electric then in the long term, you can hope to make maybe $2 or $3 a day after electric. Don't go spending up big if you think the ridiculous profitability is going to last for long. It won't!
Topic: is mining worth it? - page 2. (Read 1552 times)
I understand that but my question is does mining have an end? that in some day the mining process may stop?
Of course!
bitcoin has a limit of 21 million coins.
that's mean that when there will be 21MBTC mined, the miner will gain only the transaction fees and no mining bonus.
it is going to happen in more then 100 year though...
So don't worry about it.
i mean the process of mining generally not the BTC mining, there's many other crypto-currencies that can be mined and more currencies are made every day..
I understand that but my question is does mining have an end? that in some day the mining process may stop?
Of course!
bitcoin has a limit of 21 million coins.
that's mean that when there will be 21MBTC mined, the miner will gain only the transaction fees and no mining bonus.
it is going to happen in more then 100 year though...
So don't worry about it.
I understand that but my question is does mining have an end? that in some day the mining process may stop?
If people knew that then they'd either stop and not take the risk or literally everyone would do it. There's always an element of risk in these situations.
I understand that but my question is does mining have an end? that in some day the mining process may stop?
Maybe today you can mine ethereum worth of about 27$ a day,
but the difficulty will rise, and the payment will go down.
It might take months or years,
but it also could be so fast, that by the time you'll get your hardware ordered and delivered, you will gain less than half of that.
It happened to so many people in the past - There is no free money, and no investment without risk.
but the difficulty will rise, and the payment will go down.
It might take months or years,
but it also could be so fast, that by the time you'll get your hardware ordered and delivered, you will gain less than half of that.
It happened to so many people in the past - There is no free money, and no investment without risk.
Hey there,
I'm looking forward to invest much amount of money on mining rigs (+$10K) but I wonder if it's worth it..
May the crypto-currencies mining process stops somehow? I wanna know if there's any case i'm going to lose my money if i invested it on mining rigs because with these profits (ex: x6 rx 480 mining ethereum = 0.1068/day ~ $27/day) it's crazy and there should be many disadvantages that I don't know..
I'm looking forward to invest much amount of money on mining rigs (+$10K) but I wonder if it's worth it..
May the crypto-currencies mining process stops somehow? I wanna know if there's any case i'm going to lose my money if i invested it on mining rigs because with these profits (ex: x6 rx 480 mining ethereum = 0.1068/day ~ $27/day) it's crazy and there should be many disadvantages that I don't know..
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