Should we risk mining bitcoins ? - page 2.

InBTC4years

jr. member

Activity: 58

Merit: 5

Quote from: SONG GEET on August 23, 2017, 03:27:50 PM

If you invest into cloud mining contracts than you might loss all your investment but if you can afford to run mining hardware by yourself than you can make a good profit in long term by both mining bitcoin yourself or offering your mining power for others through nicehash and miningrigrentals.

How is contract investing more risky? I've always avoided that but have also always been interested - just didn't trust them enough to try them.

Capt00

full member

Activity: 938

Merit: 105

Quote from: StonedWolf on November 19, 2017, 05:16:42 PM

I think mining another altcoin is better absolutely, in this moment of course, because nowadays the cost of bitcoin mining is very high also its value.
As a result, you better risk the value elevation value of an altcoin is more profitable.

You right, though it is risky but we don't have any chioce. But believing our self everything will be fine and if we can manage to handle the risk, then it is much better. Looking forwars and be positive always because everything will be possible if we just work on.

Belkaa

newbie

Activity: 39

Merit: 0

Is mining dead? No it's not! Mining returned to its normal state. In early 2017, the payback of the farm was from one to a half and there were many miners. In May, when it was growing, it was reduced to 3 months! Then the boom began, the lack of video cards.

To date, the lack of video cards has disappeared. Prices fell a bit, but still bite. Of course, gamers were affected, and of course freeloaders. Freeloaders bought a lot of cards at cloud prices, and when the payback at the old price returned for a year, they have become more. They want to earn millions without realizing that the payback year is good in any business. And now they can not sell them. Mining falls they say. No, mine does not have a fall, the price of the crypto currency has fallen, it has not even fallen, but returned to its normal state. Profitability and forecasts of mining, about profitability I will say that it is profitable! But about predictions you can guess a little, but according to my calculation everything will be fine. When will the mining end? no one knows, but not soon

StonedWolf

full member

Activity: 308

Merit: 120

I think mining another altcoin is better absolutely, in this moment of course, because nowadays the cost of bitcoin's mining is very high. As a result, you better risk the value elevation of an altcoin better than risk mining bitcoin, the first choice is more profitable in my opinion.
Otherwise, we could try another way to make money through Bitcointalk like gambling, investing or trading.

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: fateh1313 on November 02, 2017, 03:25:44 PM

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed

In short you need to have a very large investment in order to start mining bitcoin and i would say it is better to purchase the coin rather than mining bitcoin,but you can look at alt coins to mine ,why do you think that India does not give permission for mining as i do know some fellow peers that mine in India and i am not aware of any ban.

Morgann

full member

Activity: 420

Merit: 100

Quote from: zycrypto on August 23, 2017, 10:06:41 AM

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

i dont think this will be the best time to mine because bitcoin is almost max. maybe invest in buying bitcoin is the best way than to risk your money in buying mining stuffs.

FasTroy

sr. member

Activity: 434

Merit: 250

Quote from: zycrypto on August 23, 2017, 10:06:41 AM

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

Mining cryptocurrencies is a very great domain of profit, but first you should invest a lot of money for hardware machine to allow you to mine, also you shouldn't forget electricity fees, because as i heard, that mining hardware use a lot of power, If you set everthing well, you will make a great profit depends in your machines, or graphic cards that you use.

Dek!

member

Activity: 97

Merit: 10

Quote from: zycrypto on August 23, 2017, 10:06:41 AM

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

If you mining bitcoin right now it's too late, because level of difficulty. You need to put effort and resources to mine.
Maybe you can mining other cryptocurrency on they early birth but it you must be careful to chose.

ladydark

hero member

Activity: 686

Merit: 500

It would be really worth only if you would be able to get cheap electricity and if you could afford to buy powerful ASIC miners to mine bitcoin.

The main aspect you should take in to consideration is that government is not in an idea to ban bitcoin or declare bitcoin mining as illegal as if it happens,all your invested money would be a waste.Or else,you should have to mine secretly that would be a risk as you have mentioned before.Venezuelans are still doing that by mining secretly.

Bambinoe

full member

Activity: 168

Merit: 100

Mining BTC is never a risk. The issue is the financial implications. You need resources to do such which will tell on your pocket.

SilverChromia

member

Activity: 357

Merit: 10

It is okay thats what i know if you have a good server and good hardware or device to mine but i know we need to have a good specification to do that and we all know how much it cost and how much we will spend for it to have a good mining. But if you do have much knowledge or you do have some strategies to work on mining that is not bad to risk mining bitcoins.

cryptoalfs76

full member

Activity: 406

Merit: 100

▰▰▰ MODULE ▰▰

Quote from: zycrypto on August 23, 2017, 10:06:41 AM

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

Will in my own opinion,if i have a capital now why not?if i have a capital i want to become a bitcoin miners, if i can afford to buy a hardware the ant miner S9,in using to mining bitcoin.this is my passion if the time i can earn this project,and my second option is to become a bitcoin miner's or mining an cryptocurrency world.

Hermes Mercury

member

Activity: 318

Merit: 21

In my opinion, it will depend on its structure, as we have seen the previous answers, a great server, good plates and a good investment. I'll bet more on "Trade"

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: fateh1313 on November 02, 2017, 03:25:44 PM

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed

Do it safe and proberly legal means No risk to mining Bitcoins because it's a digital currency system and it's done by all r procedure are called legal means safe and not procedure illegal means unsafe.

fateh1313

member

Activity: 72

Merit: 10

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed

Siddela Sarat Kumar

newbie

Activity: 37

Merit: 0

Yes, mining a bitcoin is a profitable thing along with some risk factor to it. But I personally prefer trading over mining for fair amount of profits.
At the end of the day if decide to mine a bitcoin. There is no harm.

Ayush rana

full member

Activity: 476

Merit: 103

As many do not afford the hardware required to do mining by itself but there are many websites who promise to help us doin mining but after some days they make a fraud. I don't trust anyone and invest my money to do mining untill i am not sure that my investments will safe.

monir34

member

Activity: 93

Merit: 10

Yes. Becaus I think Bitcoin mining is not risk. Due to your own equipment for mining Bitcoin that's why no risk. It's totally your own. Yes some proble about electricity. If your country electricity bill is higher then you have risk for Bitcoin mining. I can't find any other risk. I believe you can mine Bitcoin proffesonally. Once a day I will.

Linuld

sr. member

Activity: 473

Merit: 250

Quote from: ronaldo40 on September 23, 2017, 05:13:34 AM

Quote from: setupbounds on September 23, 2017, 04:06:06 AM

Quote from: Bakemat on September 12, 2017, 04:47:37 AM

Quote from: EllaPonchik on September 03, 2017, 04:00:45 PM

I do not see any risk in bitcoin. Especially not you, but China for the most part. You can risk only if you buy it. And if there is such a question about risk, then do not buy.

in everything there is a risk in everything no matter what it will be, so take a risk, it can help us to improve ourself and it can help us also to be more productive and wise by the next time we can a challenge in some problem in we may encounter in our daily lives, so take a risk a be brave enough to face it everyday.

Our life has several threats and we are always in risk because there is known time of our death so take risk do you invest and get your desirable profits from bit coin I am confident over bit coin on the basis of the popularity gained by the bet coin.

indeed bitcoin is high risk, the same as other investments. but the risk of bitcoin it proportional to profits that we get. While the other risk of investment will not be the same as profits with bitcoin. bitcoin can rise very quickly in a short time. so you don't have to think about the risk, but you should also think about profits.

We have a risk in all work but choosing a good work to take risk is important. risking on some chit coins is dangerous we are not sure when the coins will grow. but risking in bitcoins is really worth. look at this year price chart of bitcoins and tell is it worth or not. don't believe others advice blindly you check out with your own eyes and invest.

TheBTCAlex

full member

Activity: 126

Merit: 100

Back from Vacation!

You should be more clear what you mean by 'risk'. If it means that your country has banned bitcoin, and you wanna risk mining illegally, then definitely not. Then comes the question of profit...maybe you want to know that whether you will profit from bitcoin, and the answer to that is, if you are mining alone with CPUs and GPUs, or even 1 ASIC machine, then you won't profit. There are huge mining farms that are required to profit from bitcoin, which cheap as hell electricity and state of the art cooling architecture.
Only if you have these above mentioned things, you may profit from bitcoin. Solo mining just isn't profitable now, you will even probably damage your machine that way, if using a CPU/GPU.

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