While mining BTC is out of the question if you are hoping to get any rewards... it is still good that we establish a culture of mining even at a loss. If you want to support BTC, then mining at a loss is better than nothing. Of course, most people can't afford this, but if you have a lot of money, and you have a big BTC investment, you want to help your investment by mining the blockchain yourself. If everyone holding 100+ BTC (for example) did this, the network would be more decentralized. Just take it as if it was a subscription fee for something.
Now if you are a regular guy wanting to make money, mining some alt than then pumps it's still a valid strategy. When I was a noob, I made 0.5 BTC thanks to the big Dogecoin pump. I mined half a million Dogecoin with my AMD 7850 GPU.
Topic: Should we risk mining bitcoins ? - page 7. (Read 2502 times)
How much money do you have to invest into Bitcoin mining? You would be going up against some pretty big heavy weights
with massive mining farms full of ASIC's. If you really want to make some money, I would suggest that you mine some Alt
coin and then sell that for bitcoins. Take your pick of the 1000's that are out there.. but I would personally go for the coins
that are being used the most. {tx volume + low difficulty}
with massive mining farms full of ASIC's. If you really want to make some money, I would suggest that you mine some Alt
coin and then sell that for bitcoins. Take your pick of the 1000's that are out there.. but I would personally go for the coins
that are being used the most. {tx volume + low difficulty}
If you are able to buy hardware cheap, have a space to run the hardware and really cheap electricity, you can start doing the math.
There are a lot of coins out there, major ones already have ASICs and they all made in China, you need to add that into account because you might need to pay taxes when you receive it.
There are a lot of coins out there, major ones already have ASICs and they all made in China, you need to add that into account because you might need to pay taxes when you receive it.
Unless you have massive server farms available, it's not worth it. Look into mining some profitable altcoins, and either exchange those earnings to BTC or just keep holding the alts and hoping their price will rise. You will still need a very powerful computer for mining to be worth it, so if you're like most of use, you're better off just buying your crypto.
i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?
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