Time to get back into mining? - page 2.

mersal

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Quote from: cryptoloverlife on November 07, 2019, 02:32:07 AM

Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

We are spending money to setup the mining rigs which means we are buying something physical,in case if the coin we mined lost its value completely still the things we used to mine has the resale value so we are not in complete loss.Mining may not be profitable for someone who is interested in short term its more likely long term investment and the profits will be based on which coin we are mining.

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Quote from: shoreno on November 07, 2019, 02:38:57 AM

Quote from: cryptoloverlife on November 07, 2019, 02:32:07 AM

Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

why would you need to spend a lot of coins ? when you only need to buy is a mining hardware or a gpu/cpu . you can also use your own gadgets that you have right now to mine a coin so that you will only need to pay for the electricity and the bills of your electricity will also depend on your country because some countries do only have an inexpensive electric rates . you need to know if your one of those country so that you can take advantage of it .

The main obstacle of mining is clearly a capable device, if from the beginning to do mining, it is clearly not recommended with the current bad situation. but if you just continue there is no problem, it may be constrained by expensive electricity costs and income only for electricity and maintenance.

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Quote from: cryptoloverlife on November 07, 2019, 02:32:07 AM

Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

The present market situation isn't that supportive for a bigger profit for mining. Right now countries of very minimal electricity consumption charge and regions where the climate condition is supportive for free air conditioning seems profiting. Same as that of power required for mining there is requirement of power for air conditioning. So when there isn't no need for air conditioning this will profit in electricity required.

shoreno

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Quote from: cryptoloverlife on November 07, 2019, 02:32:07 AM

Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

why would you need to spend a lot of coins ? when you only need to buy is a mining hardware or a gpu/cpu . you can also use your own gadgets that you have right now to mine a coin so that you will only need to pay for the electricity and the bills of your electricity will also depend on your country because some countries do only have an inexpensive electric rates . you need to know if your one of those country so that you can take advantage of it .

cryptoloverlife

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Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

Pelunize12

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Quote from: g4r1n1m on November 06, 2019, 08:06:53 PM

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

we are here to earn money, no matter way how we get it. there is mining, buying, faucet, bounty, etc
there are people who still mining prove that it is still profitable. of course we must have strategy to do it
i must admit that buying is easier, but it doesnt mean that mining is bad

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Quote from: Kvalentine on October 27, 2019, 06:12:45 AM

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

it's still the same as before, thinking that there are electricity costs to pay, rig maintenance, and other important things that need to be estimated. if you don't feel that it's important, I recommend getting mining again. Even though all decisions are in your hands, I want to make you aware that information about the price of bitcoin and altcoin will go up It is only speculation based on evidence of halving that occurred in previous years. if you also have the same beliefs as us, of course, re-mining is a good idea.

g4r1n1m

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i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

Dreamr

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Quote from: Kvalentine on October 27, 2019, 06:12:45 AM

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

It is a good idea to start mining bitcoin if you have a bitcoin mining hardware. there no reason to lock off your bitcoin miner in the room since the bitcoin price is halving. You can mine bitcoin and HODL it for long-term maybe the bitcoin price will recover to $20,000 sooner than we think or even $30,000 as you said it yourself. I believe bitcoin mining is worth doing if you have the right tools and hardware.

agentx44

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Quote from: Kvalentine on October 27, 2019, 06:12:45 AM

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

If you've seen the improvement on the altcoin's price and it might have awaken your spirit to start mining again. You are already fearing to miss out the opportunity to gain much sooner or later that's why you are trying to catch up on the race. If you do, you are really doing things right because we are all having a feeling that later on, bitcoin's price will go up high again and everyone will surely gain much benefit from it. Keep on mining and make sure you are being productive every second of your life to have the chance to ride on bitcoin as it goes to the moon once again!

TWW

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Quote from: mdzahed134 on November 06, 2019, 10:22:38 AM

Quote from: gaston castano on October 27, 2019, 08:01:32 AM

I think this time is not a good time. large electricity costs and too long to be profitable. the best way now is to buy some altcoin and trade daily. maybe with this you can make a few $ instantly than mining without profit, or you can buy altcoin and save it for the future.

Mining is one kinda of investment so that definitely you have to cost for the mining instrument. Yeah, all of those components are very expensive but it’s risk free and how much you will be get profit it’s totally depend on your instruments capability. Trading is another purposes and here a lot of risk and instantly profit isn’t easy job for everyone in daily trading.

mining is more suitable for long-term buddy. don't count it for the price of the coins you are mining now. although the price of mining equipment is expensive but you can see that in the past few years miners have benefited when they are in a good market which makes their mining coins have a high price increase. whereas if they counted at that time it would not be enough but they still do it because of confidence for the future.

mdzahed134

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Quote from: gaston castano on October 27, 2019, 08:01:32 AM

I think this time is not a good time. large electricity costs and too long to be profitable. the best way now is to buy some altcoin and trade daily. maybe with this you can make a few $ instantly than mining without profit, or you can buy altcoin and save it for the future.

Mining is one kinda of investment so that definitely you have to cost for the mining instrument. Yeah, all of those components are very expensive but it’s risk free and how much you will be get profit it’s totally depend on your instruments capability. Trading is another purposes and here a lot of risk and instantly profit isn’t easy job for everyone in daily trading.

Iyeman

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Quote from: NeironixNV on November 05, 2019, 03:54:55 AM

Quote from: cribusen on November 03, 2019, 05:26:05 AM

Mining is getting more and more profitable, especially BTC mining. According to cmc, all other mining options are still bringing you around 90 bucks per months by investing 1k USD and in my opinion it is not worth it yet.

A lot of my friends tell me the same thing, but for now I don’t trust mining, if the rate collapses, all mining goes into minus, in which case isn’t it easier to just buy cryptocurrency on the sly and this can give more than investment in mining now.

maybe your friends never try to create such an accurate calculation about the profitability of mining. The profitability can be achieved when you are using asic mining right now.
Remember about the profit margin that comes from bitcoin mining is not so much. If you are a small miner and buy should be the best choice for you. ROI becomes a problem in mining.

Pelunize12

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Quote from: cvasy on November 04, 2019, 11:14:47 AM

I have personally not thought about mining, Because in my opinion, mining is a very difficult thing for me who does not understand at all about how to do good mining,

it desnt mean hard, but we need more effort to understand it.
everything can be learned if we want, just give more effort to do.

Quote

but I am curious about the of mining sites that currently offer a lot of benefits, but must make a BTC deposit in a certain amount, is it really paying and is it worth trying?

Do you mean cloud mining? as far i know, most of cloud mining is going to be scam
so you must be aware of them and not worth to try

royalfestus

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Quote from: kanayaTabitha on November 05, 2019, 10:29:29 AM

Quote from: carlfebz2 on November 05, 2019, 09:54:36 AM

Quote from: royalfestus on November 05, 2019, 04:31:49 AM

Quote from: btcdie on October 27, 2019, 06:22:45 AM

in my opinion it is very difficult to mine like bitcoin, because the supply is decreasing every day and mining results are also decreasing. only large mining companies are able to generate profits from mining. maybe if in 2013 it was very profitable to mine bitcoin, even though it only had 6 GPUs. for now I think altcoin mining is more profitable for small mining, choose altcoin which has the potential for the future and produce it later in my opinion.

Also consider that it will get smaller after the halving which means if you can afford the cost of mining now and hodl , it will be profitable in few month if you dont sell off like most miners do. How many altcoins are profitable as bitcoin? more focus are not going into coin which are mainly for trade/ exchange.

Gone are the days where you would be profitable on mining btc with GPU.Technically its possible but profitability? Its far from reality.
Getting back to mining would always depend on your own discretion but you should always reconsider out things like profitability and if you do see
that its useless to do so then why would bother to continue? If you are doing it just for a hobby then go on but for money making then better just
simply buy bitcoin and top alts then hold for long term which is more practical to do so.

I think bitcoin mining is only worth when the price of bitcoin reach 30k USD or more. After the halving the difficulty of bitcoin mining would be higher and i think if the price of bitcoin is still under 20k, no one will mine them anymore and moving to any other alts to grow. But i'm sure the demand of bitcoins will increase the moment after the halving and we have to prepare for that time by buying btc as much as we can

Sometimes I got confused with miners use of profit, they complained on profit when it was $1000+ at 2017 long after the halving, they are still complaining of profit at $9000 when they mine the same quantity in a day, maybe we have more miner or cost of electricity had increased in the same margin

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Quote from: Sonu_titu on November 03, 2019, 05:02:50 PM

Quote from: Kvalentine on October 27, 2019, 06:12:45 AM

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

Do you really think entering into mining at this stage would fix things, As there is a huge investment behind a mining setup. Which coins do you all suggest for mining.

The hashrate on Litecoin has dropped dramatically. So if you want to merge mine both Litecoin and Dogecoin, and you have a space ASIC, then now might be the moment to give it a try again.

You can do it through a mining pool like Pro-Hashing.

kanayaTabitha

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Quote from: carlfebz2 on November 05, 2019, 09:54:36 AM

Quote from: royalfestus on November 05, 2019, 04:31:49 AM

Quote from: btcdie on October 27, 2019, 06:22:45 AM

in my opinion it is very difficult to mine like bitcoin, because the supply is decreasing every day and mining results are also decreasing. only large mining companies are able to generate profits from mining. maybe if in 2013 it was very profitable to mine bitcoin, even though it only had 6 GPUs. for now I think altcoin mining is more profitable for small mining, choose altcoin which has the potential for the future and produce it later in my opinion.

Also consider that it will get smaller after the halving which means if you can afford the cost of mining now and hodl , it will be profitable in few month if you dont sell off like most miners do. How many altcoins are profitable as bitcoin? more focus are not going into coin which are mainly for trade/ exchange.

Gone are the days where you would be profitable on mining btc with GPU.Technically its possible but profitability? Its far from reality.
Getting back to mining would always depend on your own discretion but you should always reconsider out things like profitability and if you do see
that its useless to do so then why would bother to continue? If you are doing it just for a hobby then go on but for money making then better just
simply buy bitcoin and top alts then hold for long term which is more practical to do so.

I think bitcoin mining is only worth when the price of bitcoin reach 30k USD or more. After the halving the difficulty of bitcoin mining would be higher and i think if the price of bitcoin is still under 20k, no one will mine them anymore and moving to any other alts to grow. But i'm sure the demand of bitcoins will increase the moment after the halving and we have to prepare for that time by buying btc as much as we can

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Quote from: royalfestus on November 05, 2019, 04:31:49 AM

Quote from: btcdie on October 27, 2019, 06:22:45 AM

in my opinion it is very difficult to mine like bitcoin, because the supply is decreasing every day and mining results are also decreasing. only large mining companies are able to generate profits from mining. maybe if in 2013 it was very profitable to mine bitcoin, even though it only had 6 GPUs. for now I think altcoin mining is more profitable for small mining, choose altcoin which has the potential for the future and produce it later in my opinion.

Also consider that it will get smaller after the halving which means if you can afford the cost of mining now and hodl , it will be profitable in few month if you dont sell off like most miners do. How many altcoins are profitable as bitcoin? more focus are not going into coin which are mainly for trade/ exchange.

Gone are the days where you would be profitable on mining btc with GPU.Technically its possible but profitability? Its far from reality.
Getting back to mining would always depend on your own discretion but you should always reconsider out things like profitability and if you do see
that its useless to do so then why would bother to continue? If you are doing it just for a hobby then go on but for money making then better just
simply buy bitcoin and top alts then hold for long term which is more practical to do so.

cvasy

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Quote from: Bezobraznike on November 04, 2019, 04:05:13 PM

Quote from: cvasy on November 04, 2019, 11:14:47 AM

but I am curious about the of mining sites that currently offer a lot of benefits, but must make a BTC deposit in a certain amount, is it really paying and is it worth trying?

You are talking about cloud mining services, right? I never invested my Bitcoins in some of those sites, and there are many
of them. Warnings about them can be seen everywhere around, and I decided to not risk with them.
From the ones that scam you for your money, to the ones that give you some little amount from time to time, I never heard
anything positive about cloud mining services. Chances are that you will lose all your money or you will get something minimal in
return. I will not risk with these services, ever!

That's right, because some people I met on this forum advised me to invest in cloud services like you said, but I don't want to invest before getting really accurate information about it, I think what their say is far from logic, because only by investing some funds we can get income for several years without the need to work.
If indeed such a reality would certainly be a lot of rich people on this earth. Grin

royalfestus

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Quote from: btcdie on October 27, 2019, 06:22:45 AM

in my opinion it is very difficult to mine like bitcoin, because the supply is decreasing every day and mining results are also decreasing. only large mining companies are able to generate profits from mining. maybe if in 2013 it was very profitable to mine bitcoin, even though it only had 6 GPUs. for now I think altcoin mining is more profitable for small mining, choose altcoin which has the potential for the future and produce it later in my opinion.

Also consider that it will get smaller after the halving which means if you can afford the cost of mining now and hodl , it will be profitable in few month if you dont sell off like most miners do. How many altcoins are profitable as bitcoin? more focus are not going into coin which are mainly for trade/ exchange.

Topic: Time to get back into mining? - page 2. (Read 1102 times)