Topic: Mining (Read 262 times)
If some time ago mining was kind of a mass movement, a fast and comparatively easy way to earn cryptocurrencies, now it is an investment that needs a thorough research. Everyone was profiting a year ago: GPU distributors, mining equipment producers, speculators. Today, it can still be profitable but the market will eliminate the ones looking for an easy profit. You have to calculate your electricity costs and power consumption, type and number of GPUs, algorithm, quality of a rig (so that it can run a very long term, considering a long time to match your ROI). And I don’t think that it’s a bad! And mining is not dying, it just currently has a very low profitability. And that might change. By the time it changes, only the strongest and most patient survive.
Mining was a really cool hobby for me from 2017 summer to 2018 spring. It felt really nice to have this "free" passive income without doing anything. It all was nice as long as only a little amount of algorithms were mined by ASICs. But now... almost all of the main algos have ASICs for them.
You can still mine but you really lose money rather than get any.
You can still mine but you really lose money rather than get any.
This is not a right place to post in mining discussion so you should lock soon. If you have any queries, suggestion and share your opinion you may post in mining section. Because this is Altcoin discussion board so you can't post mining related news in this section.
Mining was intended to be done by people around the world in their PCs to decentralize the distribution of coins. At least that's what satoshi had thought but with the commercialization of bitcoin, industries started to mining the coins making it impossible for regular PCs to mine anything.
This industrialization is also making the coin distribution centralized so everyone should work towards a different and more efficient and decentralized form of proving the transaction.
This industrialization is also making the coin distribution centralized so everyone should work towards a different and more efficient and decentralized form of proving the transaction.
Not so far mining was the main way of earning in crypto and each the second person did this deal and what do we have now? There are traders and holders now only and mining has lost its stable position like the safest way of making money. I preferred mining earlier but now it is really not so suitable and promising, it needs on so much resources that it is easier to trade and to buy. Without any jokes, I don’t suppose that mining will be actual for the personal use. Do you have ideas about it and about mining’s future in common?
I am currently engaged in DPOS mining. I participated in the RIPAEX project. Mining can bring me extra income.
for an ordinary user, mining is not very profitable. all this situation with the last year's HYIP for mining resembles a tulip fever, where only the sellers of shovels were in profit. there is exactly the same
In my view, mining is not recommended to make money this year. I have a friend, he has worked as a miner since the beginning of 2017. He said "in previous, 2017, mining was a great way to make money. Many people tried to mine BTC, so they looked for VGA with a large amount. Finally, it was difficult to get VGA throughout 2017. But it was, currently to run mining spends too much money and get a little amount of money. So, he has decided to stop mining and sell all his mining equipment.
Nowadays mining is not an option I think. Because the time when you should start to mine has passed. People now are united in mining pools. They have power that is impossible to beat for individual who just want to get some BTC with his GPU. And the whole mining sphere is belongs now to these pools with huge mining farms. And you will need enormous amount of money to just even take a visible part in these sphere. So I advice you to not mine now and just invest your money. Or mine some altcoins if it possible. Because if you do some researches you will understand that I'm right.
Mining !!! from my point of view there is not good profit in this as the market is like a dead rubber now. You will earn some money but it will be equal to your electricity bill. Sometimes you may lose money too. So think about it and invest as it costs huge amount.
mining has lost its stable position like the safest way of making money.
This is debatable, it all depends on electricity cost and cost of equipment. For some people who have access to cheap electricity it can be extremely safe and profitable, that's why there was huge mining farms in china because of access to cheap electric.
I still believe mining is a more stable way of making money in crypto vs. buying off the market, as long as you do your research on the coin you are going to mine and have cheap electricity its a really good play.
Do you have ideas about it and about mining’s future in common?
The production of ASICs will become more competitive which I think will be good for the crypto industry, but we do really need more ASIC resistant centered coins to keep GPUs a viable source of mining.
Not so far mining was the main way of earning in crypto and each the second person did this deal and what do we have now? There are traders and holders now only and mining has lost its stable position like the safest way of making money. I preferred mining earlier but now it is really not so suitable and promising, it needs on so much resources that it is easier to trade and to buy. Without any jokes, I don’t suppose that mining will be actual for the personal use. Do you have ideas about it and about mining’s future in common?
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