Time to get back into mining? - page 4.

iv4n

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Quote from: SamboNZ on October 31, 2019, 03:32:04 AM

Why mining? Why not try other different options like POS,DPOS, or masternode?
I think this is more less expensive rather than using tons of electricity to get coins/tokens.

Sadly your comment passed unnoticed. There are some good PoS coins, its not cheap to run masternode, as I remember if you wish to run masternode for dash you need more then 100k starting investment. For some other good coins, lets say good PoS coins, you need at least 10k dollars. With that money you can think about buying mining equipment, but you need to calculate other expenses too, like electricity on the first place and of course free space if you don`t have any empty room for that. With PoS coins its easier, just wallet and coins and you are good to go.

davinchi

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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 ?

Yes, I think that the movement of bitcoin is really encouraging right now to make miners return back to business, since it is when the market is fully running in a full blown green lane that they make more profit, and you are lucky to have had a rig already for this and I wish that I could be like you but the cost of setting up this is what scares me way and not even that, I don’t live in some of these advanced countries where they have constant light, we usually don’t have stable light in my city and I wonder why we are still lagging behind when virtually other cities are having constant power which is very necessary to run a mining machine, but I wish good luck to already existing miners now for the profit they will start making from now on.

2ether

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Quote from: carlisle1 on October 31, 2019, 04:06:36 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 ?

not a bad idea since you already have the tools,and it was only stocked in your room then better use it again,yeah mining is very expensive and we cant find profit but thats because the prices of cryptocurrencies are in lower level.

but once we take at least more than 2017 highest capitalization?i am pretty sure profit can be generated in Mining again,but for the mean time you need to extend your capital because it will take 6 months before we finally reach the Halving and see the next bullrun

It is also possible to mine new promising coins, this can serve as a great chance to earn money, albeit not immediately. Read our post, stay tuned. https://medium.com/@2ether

Andrews193

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Quote from: riso2015 on October 31, 2019, 03:46:38 AM

Quote from: zeze18 on October 31, 2019, 03:32:34 AM

I don't think mining with the current price of bitcoin is profitable since the blocks is already high and the lesser the supply will be harder to mine.
But if the price will booming after the halving, the miners today must be rich in the future, so if the miners trust the price will be boom, it's not bad to start mining right now before everybody will mine after the price high

In my opinion the reason because Halving indeed make some Miners return to mine Bitcoin, as our friends said above, the level of difficulty will be more difficult so that the rewards given are also small, although small but the price of BTC is high so the money we get is also large.

Well, there are lots of reasons to get us back to mining, but in general, most of us have looked too subjective when we are looking at the benefits right before our eyes and ignore the long-term damage and risks in mining. The first is the level of difficulty as you say, harder and requires more advanced equipment to perform mining work, especially the volume of bitcoin has been exhausted, rewards and benefits are probably not enough to offset the daily costs of mining, Bitcoin's price may be higher, but it doesn't say that mining has had a return, in fact the opposite

btc78

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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 ?

If I am to answer?no it’s not time and there’s no other time but bullrun only.look at the market?were all speculating about the Halving in May next year but what if nothings happen?i mean what if market still dumped ?what will happen to your capital because for sure you will spend more money just to pay the electricity and some other expenses while waiting for the bull to come

elisabetheva

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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 ?

I agree when mining starts, the right time is if it only continues but it is not recommended if just starting because it does not look stable. bitcoin is still the most attractive compared to other altcoins. because it really isn't stable yet.

Javi_Anibarro

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Quote from: carlisle1 on October 31, 2019, 04:06:36 AM

not a bad idea since you already have the tools,and it was only stocked in your room then better use it again,yeah mining is very expensive and we cant find profit but thats because the prices of cryptocurrencies are in lower level.

but once we take at least more than 2017 highest capitalization?i am pretty sure profit can be generated in Mining again,but for the mean time you need to extend your capital because it will take 6 months before we finally reach the Halving and see the next bullrun

This could be a good idea if the average expenses for mining are lower or slightly lower than the total profit of coin generated. But if it is higher than by a big margin, why do not you just buy it directly on the market and then hold it. I do not think it makes any sense to keep running the mining hardware if you are losing your money for 20% or more, we need to act smart in managing our money.
By doing this we can save some money or increase our holdings, we can start mining it again after we think it is fine to do it.

carlisle1

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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 ?

not a bad idea since you already have the tools,and it was only stocked in your room then better use it again,yeah mining is very expensive and we cant find profit but thats because the prices of cryptocurrencies are in lower level.

but once we take at least more than 2017 highest capitalization?i am pretty sure profit can be generated in Mining again,but for the mean time you need to extend your capital because it will take 6 months before we finally reach the Halving and see the next bullrun

riso2015

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Quote from: zeze18 on October 31, 2019, 03:32:34 AM

I don't think mining with the current price of bitcoin is profitable since the blocks is already high and the lesser the supply will be harder to mine.
But if the price will booming after the halving, the miners today must be rich in the future, so if the miners trust the price will be boom, it's not bad to start mining right now before everybody will mine after the price high

In my opinion the reason because Halving indeed make some Miners return to mine Bitcoin, as our friends said above, the level of difficulty will be more difficult so that the rewards given are also small, although small but the price of BTC is high so the money we get is also large.

zeze18

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I don't think mining with the current price of bitcoin is profitable since the blocks is already high and the lesser the supply will be harder to mine.
But if the price will booming after the halving, the miners today must be rich in the future, so if the miners trust the price will be boom, it's not bad to start mining right now before everybody will mine after the price high

SamboNZ

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Why mining? Why not try other different options like POS,DPOS, or masternode?
I think this is more less expensive rather than using tons of electricity to get coins/tokens.

zidanw

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Quote from: S4VV4S on October 30, 2019, 07:36:32 PM

Mining will be more difficult when Halving Bitcoin happens later, because the rewards given will be smaller and the level of difficulty will be even more difficult. Currently mining make many people who stop doing it due to several factors such as not being able to pay for electricity costs, the rewards given are very small, etc.

Smaller is not the most important issue between electricity expenditure and bitcoin increase can provide benefits. Oh yea, on average, miners are now not minning bitcoin because of the difficulty level and cannot cover electricity costs. they are minning new coins because the level of difficulty is still low

d3nz

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I don't know if its still profitable because i have not tried buying a mining equips and it will just consume a lot electricity bills on where i am. But i think it will be profitable if your electricity supply is from solar powered or free then you can get a lot of profit without worrying the bills.

And halving is near and the rewards will be halve and i think its still profitable for some miners and taking advantage of the rewards while its ot been cut from half.

gabmen

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Quote from: S4VV4S on October 30, 2019, 07:36:32 PM

Mining will be more difficult when Halving Bitcoin happens later, because the rewards given will be smaller and the level of difficulty will be even more difficult. Currently mining make many people who stop doing it due to several factors such as not being able to pay for electricity costs, the rewards given are very small, etc.

You have to be looking at a long term deal with mining nowadays. Especially with mining BTC. Yeah the cost may be a bit too high when you mine BTC and a lot of miners have already switched to mining alts instead like ripple and BCH. I personally stopped mining Bitcoin a year back and stuck to just trading. Though I still mine alts. It'll be hard for BTC miners that switched to go back to mining BTC at these conditions.

S4VV4S

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Mining will be more difficult when Halving Bitcoin happens later, because the rewards given will be smaller and the level of difficulty will be even more difficult. Currently mining make many people who stop doing it due to several factors such as not being able to pay for electricity costs, the rewards given are very small, etc.

Obito

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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 ?

Is mining still worth it? I do not think so. If it is not profitable why bother getting back at it again. Try something new though. You won't get anything there and in addition you have to maintain your mining rig electricity and whatsoever is that. You must be having a small rig. If you wanna get there I suggest that make your mining rig stuff there much more bigger than you already have so you have better income. But you will have bigger maintenance.

diazepam666

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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 ?

Not a good idea and you may sell all your minkng cards and ASIC rigs with the better price you get in the market. I was tried to invest on the ethereum mining rig set up few months before and I stopped it.
I recently went electronic market and saw that most of people stagnated their cards and unable to sell it due to low price.

atjiat

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Quote from: posi on October 30, 2019, 01:26:54 PM

Quote from: Renampun on October 30, 2019, 12:42:53 PM

now is the right time to go back to mining.

Quote from: ?? on ??

I think is a hard time if start mining other altcoin than ETH, but even for ETH you will need investment on equipment and some time to recover it until get a profit, but you can try if you have some money to invest, for other coins i suggest not start mining at this time.

mining Ethereum very unprofitable at this time, better mining Zcash, Bitcoin, Bitcoin Cash, and Monacoin
this is a recommendation from a friend who is a miner
he always moves to move cryptocurrency when the cryptocurrency in his mine is no longer profitable.

You guys both make a good point but logical Bitcoin is best coin to mine now before the block halving take place which also lead to the reduction of block rewards. However, the above user was right because ETH was among the profitable coin in terms of mining aspect this year and the rest are zcash, LTC, Monero etc.

One way or another, even considering what you said about the price reduction for Bitcoin mining, anyway, this activity is beneficial for the most relevant coins, including Ethereum. Until now, users have stated that if the price of Bitcoin is above $ 5,000, then it will be more than profitable. And according to analysts, the cost of Ethereum for itself was about $ 500, but nevertheless, even with the current state of the cryptocurrency market, Ethereum mining still remains profitable.

posi

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Quote from: Renampun on October 30, 2019, 12:42:53 PM

now is the right time to go back to mining.

Quote from: ?? on ??

I think is a hard time if start mining other altcoin than ETH, but even for ETH you will need investment on equipment and some time to recover it until get a profit, but you can try if you have some money to invest, for other coins i suggest not start mining at this time.

mining Ethereum very unprofitable at this time, better mining Zcash, Bitcoin, Bitcoin Cash, and Monacoin
this is a recommendation from a friend who is a miner
he always moves to move cryptocurrency when the cryptocurrency in his mine is no longer profitable.

You guys both make a good point but logical Bitcoin is best coin to mine now before the block halving take place which also lead to the reduction of block rewards. However, the above user was right because ETH was among the profitable coin in terms of mining aspect this year and the rest are zcash, LTC, Monero etc.

Renampun

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now is the right time to go back to mining.

Quote from: ?? on ??

I think is a hard time if start mining other altcoin than ETH, but even for ETH you will need investment on equipment and some time to recover it until get a profit, but you can try if you have some money to invest, for other coins i suggest not start mining at this time.

mining Ethereum very unprofitable at this time, better mining Zcash, Bitcoin, Bitcoin Cash, and Monacoin
this is a recommendation from a friend who is a miner
he always moves to move cryptocurrency when the cryptocurrency in his mine is no longer profitable.

Topic: Time to get back into mining? - page 4. (Read 1059 times)