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Topic: Mining Bitcoin - page 2. (Read 855 times)

hero member
Activity: 1792
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Leading Crypto Sports Betting & Casino Platform
September 24, 2022, 10:28:15 PM
#49
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho
so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??

Mining bitcoin in 2022 is no longer feasible. This cycle has often happened after bitcoin touched the ATH price last year. Now there are also many graphic cards that are sold used to mine either from nvidia or radeon, as a result they are sold at cheap prices and it is very risky to damage if someone still buys it.

Why is it no longer feasible? Big companies and farms are still not stopping bitcoin mining. A drop in bitcoin prices or an unexpected increase in energy costs may affect mining operations but not to the extent of shutting down or selling off their miners. This is only for those who don't have much knowledge and experience in bitcoin mining. Bitcoin mining requires a lot of factors, not as simple as holding, so as long as you carefully prepare the necessary things, you will not have any difficulty in the mining process or you can handle it if unexpected events such as recent high energy prices are quite unexpected.
hero member
Activity: 2912
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Leading Crypto Sports Betting & Casino Platform
September 24, 2022, 09:19:41 PM
#48
in my opinion it depends on conditions such as electricity and so on, but in 2022, I think you can still mine as long as the facilities are adequate. but now in various countries the price of electricity is starting to rise and this causes some people to stop mining because of the high cost of electricity, so I think it all depends on the situation.
People in countries with low electricity costs can still mine because it doesn't really matter to them. But they also have to consider how to cover operational costs because electricity costs are costs they must pay every month. And that's right. It all depends on the situation of each country. If we can get renewable energy or can use solar, wind, or even water to generate electricity, it will reduce the electricity costs we have to pay.
The only factor that would really be important is electricity/energy cost which would always be the main consideration whenever you decide mining whether focused on bitcoin or
other coins which could be mined.Even the miners are expensive but the cost of electricity is cheap then it would really at least cover up the expenses which it would really be
that just fine if you do proceed on mining because it would eventually just patch up the cost and ending up on making profits in the end of the day.
So if you are interested on mining and you do live on a country which does have cheap electricity then i dont have any questions to bother up myself
if im interested on doing mining.
But not many of us live in a country with cheap electricity and even if we live in that country, we also have to think about how much initial capital we must prepare before starting mining. The hardware that needs to be prepared must also have good specifications so that you can get a lot of rewards in a month and the price is not cheap, especially if you want to mine bitcoin. If I were him, I'd better use the money to learn to trade because, after all, the money must be very large to use for trading.
hero member
Activity: 2688
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September 24, 2022, 03:34:22 PM
#47
in my opinion it depends on conditions such as electricity and so on, but in 2022, I think you can still mine as long as the facilities are adequate. but now in various countries the price of electricity is starting to rise and this causes some people to stop mining because of the high cost of electricity, so I think it all depends on the situation.
People in countries with low electricity costs can still mine because it doesn't really matter to them. But they also have to consider how to cover operational costs because electricity costs are costs they must pay every month. And that's right. It all depends on the situation of each country. If we can get renewable energy or can use solar, wind, or even water to generate electricity, it will reduce the electricity costs we have to pay.
The only factor that would really be important is electricity/energy cost which would always be the main consideration whenever you decide mining whether focused on bitcoin or
other coins which could be mined.Even the miners are expensive but the cost of electricity is cheap then it would really at least cover up the expenses which it would really be
that just fine if you do proceed on mining because it would eventually just patch up the cost and ending up on making profits in the end of the day.
So if you are interested on mining and you do live on a country which does have cheap electricity then i dont have any questions to bother up myself
if im interested on doing mining.
hero member
Activity: 2156
Merit: 521
September 24, 2022, 02:52:09 PM
#46
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho
so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??

Mining bitcoin in 2022 is no longer feasible. This cycle has often happened after bitcoin touched the ATH price last year. Now there are also many graphic cards that are sold used to mine either from nvidia or radeon, as a result they are sold at cheap prices and it is very risky to damage if someone still buys it.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
September 24, 2022, 06:58:52 AM
#45
in my opinion it depends on conditions such as electricity and so on, but in 2022, I think you can still mine as long as the facilities are adequate. but now in various countries the price of electricity is starting to rise and this causes some people to stop mining because of the high cost of electricity, so I think it all depends on the situation.
People in countries with low electricity costs can still mine because it doesn't really matter to them. But they also have to consider how to cover operational costs because electricity costs are costs they must pay every month. And that's right. It all depends on the situation of each country. If we can get renewable energy or can use solar, wind, or even water to generate electricity, it will reduce the electricity costs we have to pay.
hero member
Activity: 1722
Merit: 895
September 24, 2022, 01:59:23 AM
#44
If you could really that able to have these checklist then you could mine.
You wont really be that dumb to proceed if you do see that you arent gaining or benefiting at all.Right?
Based on the above considerations, very few people want to mine using this method, if the quality of support is not adequate in carrying out the process, this will have no impact if the required tools are not available and are still quite complicated to fulfill.
Therefore, the cost of expenditure will not be offset by the mining results obtained, thus we are wasting time in the wrong place.
member
Activity: 476
Merit: 60
September 23, 2022, 11:51:36 PM
#43
in my opinion it depends on conditions such as electricity and so on, but in 2022, I think you can still mine as long as the facilities are adequate. but now in various countries the price of electricity is starting to rise and this causes some people to stop mining because of the high cost of electricity, so I think it all depends on the situation.
hero member
Activity: 2968
Merit: 687
September 22, 2022, 05:56:57 PM
#42
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho
so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??
Bitcoin mining did exist far from now, many people have taken part in mining. But did you know that bitcoin mining requires sophisticated tools, because the computers we have, are not yet able to accommodate bitcoin mining, and that's why many people don't do mining, if the equipment needed is not complete and sophisticated.
So actually mining has been around for a long time, but the need for tools that may be constrained for people to do.
It does need;

.ASIC miners (not cheap)
Electricity cost ( vary on each place)
Mining knowledge(Of course)
Countries legal stance towards mining bitcoin

If you could really that able to have these checklist then you could mine.
You wont really be that dumb to proceed if you do see that you arent gaining or benefiting at all.Right?
hero member
Activity: 1302
Merit: 516
Bitcoin Casino Est. 2013
September 22, 2022, 01:42:42 PM
#41
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho
so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??
Bitcoin mining did exist far from now, many people have taken part in mining. But did you know that bitcoin mining requires sophisticated tools, because the computers we have, are not yet able to accommodate bitcoin mining, and that's why many people don't do mining, if the equipment needed is not complete and sophisticated.
So actually mining has been around for a long time, but the need for tools that may be constrained for people to do.
legendary
Activity: 2730
Merit: 7065
September 22, 2022, 11:16:29 AM
#40
Well, why can't go far in bitcoin solo mining? Here is an example of a discussion where you get it with the help of Compac F USB sticks - https://bitcointalksearch.org/topic/--5407333. Despite the meager chances, OP can still try to try his luck in this way.
Sure, the chances to win the lottery are there. That's exactly what it is. It's a lottery where the main prize is a whopping 6.25 BTC. But the difference between the bitcoin lottery and a traditional lottery is in the price of the lottery ticket. Bingos and lotteries cost a few $/€, but the entry price for bitcoin is $3.000 or $4.000 per ticket (miner). In the real world, you could purchase 3 lottery tickets for $10 or $20 in total, but if you want 3 modern ASIC miners, you might have to splash out $10-$15k. I am sure you will agree with me that it's a significant difference. Having one more or one less $10 bill in your wallet isn't the end of the world, but if you lose $10.000, that is something most people will feel. Not to mention the electricity costs for running your device. 

If people want to take that risk, they are free to try it out. I am not good in math, but I think we can say that for every 1 person that finds a block with insignificant computer resources (solo mining), there are surely 10.000 of those who will try to win the lottery in vain.
legendary
Activity: 1792
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Crypto Casino and Sportsbook
September 22, 2022, 10:20:46 AM
#39
Solo mining without a big farm won't get you far. But if you have a few ASICs, you can join a pool, and get a few drops of BTC here and there according to the hash power you have whenever that pool finds a block.

Bitcoin mining is still profitable in 2022 but we should take a look about electricity bill and graphics card cost.
I guess you weren't in class when the teacher was talking about ASICs, what they do, and what chances graphics cards have when going head-to-head against them. 
Well, why can't go far in bitcoin solo mining? Here is an example of a discussion where you get it with the help of Compac F USB sticks - https://bitcointalksearch.org/topic/--5407333. Despite the meager chances, OP can still try to try his luck in this way.


Are you wondering about individual mining? I mean without mining farms? Then it would be hard to make money. Also miming fully depends on energy. So think about your energy source and cost. If you can use renewable energy then would be profitable and there won't be problems if the government allows Bitcoin. If the government doesn't allow you to use Bitcoin then they won't allow mining Bitcoin as well. So it depends on many things will mining be profitable or not for you?
Well, 6,25BTC  says otherwise.Smiley - https://bitcointalksearch.org/topic/--5407333


Solo mining doesn't make you rich because the profit you will get isn't worthy enough, but for people who run a big mining farms, they're still profit good amount money. I think solo mining is worth it when you can still mine Bitcoin with CPU, but now you wouldn't get anything if you mine with CPU.

I think for individual person who want to make profit from Bitcoin, investing is the way at this moment especially it's on bear market.
See the link above. In exceptional cases, solo mining can make rich if you are very lucky. But it only works for a few and I totally agree that investing in a btc is the easiest way to go for most.
hero member
Activity: 1148
Merit: 796
September 22, 2022, 09:35:41 AM
#38
Solo mining doesn't make you rich because the profit you will get isn't worthy enough, but for people who run a big mining farms, they're still profit good amount money. I think solo mining is worth it when you can still mine Bitcoin with CPU, but now you wouldn't get anything if you mine with CPU.

I think for individual person who want to make profit from Bitcoin, investing is the way at this moment especially it's on bear market.
legendary
Activity: 2394
Merit: 2223
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September 22, 2022, 08:40:50 AM
#37
Are you wondering about individual mining? I mean without mining farms? Then it would be hard to make money. Also miming fully depends on energy. So think about your energy source and cost. If you can use renewable energy then would be profitable and there won't be problems if the government allows Bitcoin. If the government doesn't allow you to use Bitcoin then they won't allow mining Bitcoin as well. So it depends on many things will mining be profitable or not for you?
legendary
Activity: 2730
Merit: 7065
September 22, 2022, 07:50:55 AM
#36
Solo mining without a big farm won't get you far. But if you have a few ASICs, you can join a pool, and get a few drops of BTC here and there according to the hash power you have whenever that pool finds a block.

Bitcoin mining is still profitable in 2022 but we should take a look about electricity bill and graphics card cost.
I guess you weren't in class when the teacher was talking about ASICs, what they do, and what chances graphics cards have when going head-to-head against them. 
newbie
Activity: 22
Merit: 0
September 22, 2022, 07:26:58 AM
#35
If you are mining properly with mining equipment and have right amount of cheap electricity, after calculation of selling hold on bitcoin at right time u will definitely get profit at last but with caution if u are using expensive electricity instead of making small money then u are in wrong way of mining
sr. member
Activity: 1820
Merit: 418
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September 22, 2022, 04:27:01 AM
#34
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho

It could be profitable or couldn't be based on how much hash rate you're providing, given the price of bitcoin now 18900 I doubt it will be profitable compared to when btc was 60,000

so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??

I used to mine monero on an of which I forgot the name of, there I made 0.1-0.2 Monero, and the company denied my withdrawal when I applied for it after a few years when monero skyrocketed along with bitcoin and ETH.
newbie
Activity: 21
Merit: 1
September 22, 2022, 03:15:35 AM
#33
If you really want to get into investing, I think you should research and plan a budget. It is definitely a good idea to invest in BTC. What are you waiting for? If it is more information, there are books you can look through that can revise the terms and conditions of the market place so you aren’t completely lost. Just be mentally prepared to suffer loss, too.
legendary
Activity: 1792
Merit: 1296
Crypto Casino and Sportsbook
September 21, 2022, 02:26:18 PM
#32
i heard a lot over the years about bitcoin mining and i never really considered diving into it, many people talked about it being profitable tho
so what do you guys think about it ? does anyone here have a successful mining story ?? and do you think it's still worth trying on 2022 ??
There should be a lot of successful stories about bitcoin mining in the discussions in the mining section of the past years, when the community was just being formed. Smiley I'm not sure that most of those cases were successful from a financial point of view, because few people were able to hold btc for a long time, waiting for a huge rise in price. As for whether it is worth doing mining now, it all depends on your starting capital. Mining in 2022 is a business and the implementation of which must be approached with a business plan, with calculations of profitability, costs, profits, etc. Even though you plan to mine houses at one asic, even on an industrial scale. If you have enough perseverance, then you can do minking, even in a Tesla car, like some individuals.
full member
Activity: 1134
Merit: 167
September 20, 2022, 05:15:50 PM
#31
seeing the number of crypto users currently mining is still very profitable but it must be equipped with several supporting factors if not ... then don't occasionally jump into mining. one of the factors is the commodity of equipment and energy resources because at this time there are already many mining industries and individuals who use several devices that may be very expensive. calculating how much income can be obtained from mining with our devices and plus the electrical energy used, if it is profitable then do it if not then you have to add devices that support and be accompanied by additional electrical power
and lastly, the legality of mining in your country may not be allowed forever so you have to look for alternative energy other than state electricity, because the very high consumption of electricity has until now been the reason mining in a country is not allowed
legendary
Activity: 2310
Merit: 1848
September 20, 2022, 03:03:01 PM
#30
Currently, it is important in which country you want to do mining. Because the prices for electricity and  legally. The competition is extremely high, so solo mining is more likely in a network with many users to find a block. It doesn't matter it's BTC or ETH, both are possible. My story with a few miners in 2017 and the sale, was the best I do.
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