Start mining.. Is it a good idea?? - page 2.

koicrypto225

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

Bitcoin mining would be much profitable but the risk that it entails because of expensive capital needed should be considered beforehand.

meowskie

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

For me mining is a not good idea for earning bit coin. You can try to read how to earn bit coin in many ways. Investment is the best way to earn bitcoin. But if you don't want to invest, the best way is by joining signature campaign.

Thirio

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your location would be a good indicator of you should start mining. the cost of living in your area and the temperature would help too. Since the bills you'd have to pay whilst doing mining would be computed for your profit and the temperature would also help your mining rig to not overheat, so it's also preferable you'd be mining in a cold area. If you've computed all the factors and still have a good profit then it's a good idea.

Iconic Love

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I dont think start bitcoin mining is a good idea.First to know to mine the bitcoin u must have a high regulation pc.what is already very expensive.and at the same time u have to spend a lot of time..bcz after some time u have to.recieve the satoshi..so at the same time u r inveating money and giving a huge time. and also getting a short amount of btc.but if you do others like trading and bounty campaign in a very short time and almoat no monet you can cut a good figure of bitcoin.

lekam0213

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Yes ofcourse because mining is other way to earn btc as long as you can afford to buy bitcoin mining rig, can afford to have a high end computer.that can sustain 24/7 online and can afford to pay for you big electicity comsumption if yes then you can start mining.

bitterguy28

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

your have point and great idea's, mining are profitable ways to earn bitcoin or any altcoins without in risk in your investment because the capital investment which is the machine are in your own custody.

Electricity consumption are depend in the location or country you can stay because some country electricity is too expensive.

notthepuma

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I'm sure that starting a mining session at the moment is a bad idea! Firstly, the price of coins is very small, you will work in negative. In addition, a very long payback period.

Rubick99

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Mining is one way to earn crypto. It's a good idea, you must prepare all of the device that will be needed when you start mining.

angeltee

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It is never a bad idea but just that it is quite expensive to mine just 1 bitcoin and more cost for more. The best way to get more bitcoin maybe to buy or invest it with companies that can hash it and invest on your behalf and get your earn as required.

ladydark

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Huge investment is needed to buy powerful ASIC miners to mine bitcoins and also,availability of cheap electrical charges should be ensured to get good profits.Instead,bitcoins could be bought and held as a long term investment.

cryptodalton

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If it is mined by renewable energy owned by individual or company then it is okay. But the electricity cost and demand is now in pick. Considering this it is not wise i guess.

conceivedspoon2

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It may be good and maybe not a good idea at the time because it will cost about $5000 to mine. An investor with this kinda of money may not want to through all the hustling of this kind. But if you can then its a good one.

Wahyu aep

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For bitcoin mining, you have to buy bitcoin mining hardware. Mining Bitcoin with anything less will consume more electricity than you might have. It is important to mine bitcoins with the best bitcoin mining hardware made specifically for that purpose. So, is it a good idea to start mining? Buying mining tools for now I think is a useless thing because now is the token era. Unless you intend to create a large mining company, it might still make sense to buy mining equipment.

bitvalak

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

buying mining tools for the moment I think is a useless thing because now is the token era. Unless you do intend to make a large mining company it might still make sense to buy mining tools.

ShadowBits

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

If I were you I would try to mine other coins instead rather than Bitcoin since the difficulty is getting harder and harder by every day.

Meysa_richa

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You are absolutely right that I also feel that to start bitcoin mining is a very good idea, and we can save our minerals bitcoin to sell when bitcoin prices rise.

Cres

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There is so many crypts right now is it worth to mine bitcoins? Or all other coins are not mineable? Or its just no profit in it.

BartS

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Quote from: Sachinthani on June 02, 2018, 03:19:03 PM

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. So is it really a good idea to start mining?

Unless you have experience it is not really recommended to start mining right now, it is not even clear if you can even break even right now since the price of bitcoin is so low, so you will probably have to look for other cryptocurrencies to mine and you will need to have very precise calculations about how much money you are spending in electricity and the amount of money you paid for your mining hardware and what are the expectations of growth of this other coins and that is a very complex thing to do.

Nonie

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mining its good but I think now is not a good time for it because all the coin prices are down if compared to the end of last year. I'm a miner but I'm stopping now because prices are down and income are down, electricity prices keep rising and that's got me confused and the profits are not worth it so I prefer to trade now but if you want to mine now and the coins are hold until the price will come back to the highest price I think it's good

triciaa478

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Mining is only profitable to undertake if you have the necessary resources to mine. Like having appropriate hardware with the needed electricity to run it an joining a pool to connect to.

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