Time to get back into mining? - page 3.

Wysi

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Quote from: NeironixNV on November 05, 2019, 04:54:55 AM

Quote from: cribusen on November 03, 2019, 06:26:05 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.

Yes this is not the right time for mining as the market is still volatile and we might up spending more money on mining than profit. I am not spreading FUD but it has never worked for me and I have incurred huge loss because of mining and I would never suggest mining to anyone because it's not for individuals unless we have a mining farm and cheap electricity.

NeironixNV

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Quote from: cribusen on November 03, 2019, 06:26:05 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.

Bezobraznike

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Quote from: cvasy on November 04, 2019, 12:14:47 PM

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!

sirminesalot

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Quote from: cribusen on November 03, 2019, 06:26:05 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.

maybe your place can be profitable if calculated with operational costs with income in mining is different from my place maybe operational costs are not comparable with the results obtained by mining investment and maybe in my country mining is not so desirable and they tend to trade or participate in campaigns to follow bounties and benefit

cvasy

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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, besides miners also require a lot of money, so, I personally better took alternatives such as being a hunter prize and also became a trader who in my opinion more quickly produces even on a small scale of profit.
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?

Searing

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Clueless!

Quote from: Sonu_titu on November 03, 2019, 06:02:50 PM

Quote from: Kvalentine on October 27, 2019, 07:12:45 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.

On the other hand....the original folk that got into BTC were mostly miners. That is how I and my peers got into BTC/Crypto.

It could be the same thing, only with big investors, in 20/20 hindsight it probably would have worked no worse for me tho HODL coin back

in the day than mine. But on the other hand, the physical item, the 25% off equipment depreciation, a business....the folk with more $$$ then

sense like I used to be, back in the day. Or institutional money may be more 'comfortable' with this as an option to get BTC/Crypto, then flat out buying BTC/Crypto.

Unsure, but I know back in 2013 when I 'drank the BTC kool-aid' ...I went frigging crazy on mining coins for fun and profit.

Maybe, its the same, only we are attracting new 'newbies' with deeper pockets and/or institutional $$$ to blow in the usual newbie optimistic way.

just saying

Brad

Sonu_titu

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Quote from: Kvalentine on October 27, 2019, 07:12:45 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.

2ether

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Quote from: junkerr on November 03, 2019, 08:28:04 AM

Quote from: cribusen on November 03, 2019, 06:26:05 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.

I no longer even think mining will be truly profitable. if you can calculate how much expenses we have to pay to mine coins and how much we will get from mining it will be very little to get a profit. mining requires a device that is very powerful and certainly expensive. big capital is also needed.
if both of them need capital, I think trading will be more profitable for me than mining.

Not all investors can trade. Many people are mining because cryptocurrency is secondary to them.They grow in the long run.

junkerr

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Quote from: cribusen on November 03, 2019, 06:26:05 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.

I no longer even think mining will be truly profitable. if you can calculate how much expenses we have to pay to mine coins and how much we will get from mining it will be very little to get a profit. mining requires a device that is very powerful and certainly expensive. big capital is also needed.
if both of them need capital, I think trading will be more profitable for me than mining.

cribusen

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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.

Searing

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Clueless!

Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

Not in the USA. My data hall rates are 9.5c to 10c kWh. My home electric rates shot up dramatically in the last 1-2 years from around 12c summer rates and 10c winter rates

at the home to 17.29c kWh Summer rates and my guess of around 15c kWh Winter rates. UGH!

Add the 25% tariff and further reason not to mine in any way, shape or form.

Add the increase (from what I can tell) of equivalent chips 16nm in bigger boxes for 1/3 more money since around May 2019, IMHO, and that further

complicates mining.

And the fact the ABOVE all sell out, driving up difficulty is not helping much in this regard either.

and lastly, the price of BTC does NOT reflect, even without tariff any way/shape/form should you mine.

The only mining I'm doing is "Attic Mining". You sell the crap out of attic or storage or whatever, on eBay you would otherwise

die with for BTC/Crypto dust. If you are wrong, worst that happens is you lost some time and gained some space in the house. In my case, future

rec room in the attic...but if you are right and BTC hits the ATH again, you are a genius! win/win IMHO.

I do like to watch mining as a 'spectator sport' but I'm in the bleachers just HODL'ing and doing above to add to the BTC/Crypto hoard!

my 2 satoshis worth of advice

later

Brad

mR.k0fka

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Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

what do you mean mining is not profitable?
you can always keep mining and hold the coins until its profitable for you to sell

greenclub09

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For me, the cryptocurrency market is a risky one, but the potential of the market is also high. I believe that in the next few years the market will be stable and profitable for long-term investors and miners. If you can be patient with crypto, you can hold it long term then I believe in the near future you will have a lot of money.

topbitcoin

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Quote from: adroitful_one on November 01, 2019, 12:12:52 PM

Quote from: topbitcoin on November 01, 2019, 12:40:44 AM

Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

You not only have to factor in electricity costs which would put me into the negative already, but also the cost of equipment, and the time you have to put in for maintenance to keep it all running smoothly. It's just not worth it right now in my opinion. Maybe sometime during the next bull run it will be worthwhile, but with the cost of electricity and the rate at which the hardware is becoming obsolete, mining is just not worth the time right now.

True, there are a lot of things must be aware before we do mining. Especially the equipment, when people think mining coin is a way to earn money easily, some GPU price increased very much. And that thing is really affect on how much people must spend to make full mining equipment set. And now when mining not really booming again, they lose money when they want to sell that equipment.

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Quote from: sazonk on October 31, 2019, 10:36:25 PM

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

indeed, now is the right time to do mining but you must know that to build mining requires expensive equipment, very high electricity and very expensive repair costs so I think the capital you use will be very much with invaluable results, more good you buy altcoin which has the potential at the exchange so that when prices rise can provide many benefits for you.

2ether

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Quote from: sazonk on October 31, 2019, 10:36:25 PM

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

There are still people who have bought equipment and have not yet paid back.
We also protect that it is possible to mine young promising coins, which in the future can be sold for good money.

adroitful_one

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Quote from: topbitcoin on November 01, 2019, 12:40:44 AM

Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

You not only have to factor in electricity costs which would put me into the negative already, but also the cost of equipment, and the time you have to put in for maintenance to keep it all running smoothly. It's just not worth it right now in my opinion. Maybe sometime during the next bull run it will be worthwhile, but with the cost of electricity and the rate at which the hardware is becoming obsolete, mining is just not worth the time right now.

zidanw

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Quote from: topbitcoin on November 01, 2019, 12:40:44 AM

Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

Cost calculation. BEP from our capital. Not to mention if the problematic device becomes a calculation that we must do when interested in doing minning and not everyone wants to take the risk. in my opinion it really needs to be careful if we want to do minning. and if you have not yet served, do not let you do minning

topbitcoin

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Quote from: Kvalentine on October 27, 2019, 07:12:45 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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

sazonk

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Changing the game

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

Topic: Time to get back into mining? - page 3. (Read 1059 times)