Time to get back into mining? - page 5.

BChydro

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Quote from: 2ether on October 30, 2019, 12:06:39 PM

Read our article about Ethereum mining, and also you can familiarize yourself with our other articles, there we offer a solution.Subscribe and stay tuned.

It is a beautiful post and it clearly states the flaws in ETH a made up currency with no limit on the number of coins in circulation and there is no plan in limiting anything and they are following the fiat model and people should trust ETH Roll Eyes

. Majority of the investors in the bitcoin market got attracted because of the stupid government control and to get rid of that and now ETH is creating a currency that copies the fiat model and i call it a scam coin Tongue

.

2ether

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Read our article about Ethereum mining, and also you can familiarize yourself with our other articles, there we offer a solution.Subscribe and stay tuned.
https://medium.com/@2ether/how-ethereum-block-rewards-changed-from-5-eth-to-the-thirdening-162827e1b5dd

ePesoInitiative

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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 ?

You should get back to mining. But it will be profitable only after the Bitcoin halving, maybe around October 2020. But the greatest gains will be made if you start now. Find the most promising coin with the lowest difficulty.

poldanmig

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Quote from: cryptoloverlife on October 29, 2019, 03:04:29 AM

As of now, most of the people are not showing interest in mining because now the difficulty to mine bitcoin is very difficult due to high hash rate. So it is a very bad idea to choose to mine because now it requires huge mining equipment and the difficulty rate is also very high. So it is better to stay away from mining.

Between costs and average income is also thin making BEP Capital experience longer and in my opinion now people are no longer interested. plus technical problems that often occur when we start minning. at first it was true that when the price of bitcoin rose profitably, but today many people are complaining about the price that never goes up plus the level of difficulty mining and also the electricity costs that also go up

cryptoloverlife

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As of now, most of the people are not showing interest in mining because now the difficulty to mine bitcoin is very difficult due to high hash rate. So it is a very bad idea to choose to mine because now it requires huge mining equipment and the difficulty rate is also very high. So it is better to stay away from mining.

Bezobraznike

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Who have mining equipment can think about returning to mining! People who plan to invest in mining rigs now should do it fast, to try
to mine as many coins as they can before the halving, after that block rewards will be halved in half. It`s for people who think about
Bitcoin mining.
Who find mining equipment to expensive, should think about mining other coins. Now we have a big choice! I will never go into mining
business because I live in country where electricity is too expensive. I`m more of a staking person!

silversurfer1958

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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 ?

No, currently the hashrate is very low due to electricity increase and is the dry season. And that is also why miners are now making a profit again due to less competition.
We do not need to wait anymore, mining is a form of business is quite profitable at these times and you should also invest in mining projects.

TelolettOm

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I was a miner in 2017 and at that time it was very profitable, but in the middle of 2018 I was no longer in profit and at that time was giving a loss due to the rapid decline of bitcoin. until finally I decided to sell all of my minning devices at the end of 2018. this is a little story of me at that time minning. who were hit by the hype of the price of bitcoin and minning.

Regarding whether minning is still profitable at the moment I think there are still benefits but we are minning new coins because at that time the price and also the level of difficulty is still lower than we are minning bitcoin or others. if calculated there are still advantages. because I myself am also still active in forums and some people still provide minning updates. based on that I see

kodtycoon

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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 ?

the idea will always be good i think, because when many miners decide to stop, but on the other hand i think they make decisions too quickly, meaning when they are still able to do it maybe without getting the expected benefits but at least by continuing to mine you will continue to earn coins mined until there will be a time for you to sell when prices are on the moon

Duzter

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Quote from: EmmanCryp on October 28, 2019, 05:33:03 PM

I've always loved to be a miner too but the expenses of the rigs and electricity always discourages me. And if bitcoin surges to 30k, there is no assurance of altcoins recovery. Who knows it may even be the death of some alts.

If bitcoin reaches $30k surely we can expect the price of altcoins to grow further along with bitcoin. Until bitcoin crosses $15k I don't think there will be growth with altcoins. When it comes to mining, the present market gives mere profit if you're mining bitcoin depending on the electricity consumption charge. When it comes to altcoins it is time to risk, as there won't be much miners, the difficulty will be low. It can be used as the time to mine and hold large volume. If lucky you'll be benefitted, if not it's a loss.

EmmanCryp

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I've always loved to be a miner too but the expenses of the rigs and electricity always discourages me. And if bitcoin surges to 30k, there is no assurance of altcoins recovery. Who knows it may even be the death of some alts.

biddicoin

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Quote from: efxtrader on October 28, 2019, 03:21:04 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 ?

I think mining coins is profitable as long as the coins are actively traded on exchangers. Coin mining means decentralized coins and I think coins like this are suitable for long-term investment.

even when the coins are actively traded on exchangers, it doesnt mean always profitable
mining needs big resource to do it, such as mining rig, electricity, which oftern cost more than you get
that's why OP said that mining isnt profitable anymore

for OP, as long as you use good mining rig and low cost electricity, it can be profitable, do mining altcoin for better result.

Bitcoinjheta

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Quote from: trauchot on October 28, 2019, 04:08:05 AM

I think this is a good idea, because soon there will really be bitcoin halving and then bitcoin will be able to show new results and while there is a chance to act, altcoins themselves certainly have not shown growth for a long time and also growth is very possible when there will be bitcoin halving, so now there is still time left to start mining bitcoin or altcoins.

There has no assurance that after halving the growth of bitcoin and altcoin will continually increasing going to $ 30K instantly it might take for many months or years to go with that thing and yet we don't have any concrete prospect that the market will get back into bull run in twenty-twenties.

ufaiz50

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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 ?

How long do I have to wait for $ 30K? for the present value, the possibility that I can get from mining after reducing electricity costs is only a little, this is not feasible to do in my country. While the electricity costs have to be paid every month, so there's no way I will continue to pay with my income. Altcoin market depends on the bitcoin market, I agree with this, but to mining is a bad idea for me.

Kvalentine

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Quote from: btcdie on October 27, 2019, 07:22:45 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.

Altcoin mining is not profitable like before, mining monero now with 2000hash rate will only earn you 0.60cent per 24hours and excluding the electricity fee leaves nothing left at all, i think mining now is for those who wants to hold for long term

Wysi

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Quote from: alexsandria on October 28, 2019, 12:18:40 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 ?

Might be a good idea though. But is it worthy and profitable in your place? Your alts would be on hold I guess but you have to sustain you maintenance in your mining stuff such as electricity. It will sure pay you off alot soon. Mining is good for people who lives in a cold places, heat doesn't add upon the cost and they are away from damaging their hardwares plus they do have a low bill of electricity. But if you aren't in such condition plus you do pay higher bills and then you mine alts a little bit then I guess mining isn't worthy for you mate. But it is still upon you to decide.

If you get free electricity then I would say mining is worthy because the amount of commissions you get from mining does not even suffice the electricity and Internet bills and mining is not for everyone and many of us end up losing our investment which we make to buy the components like miners, graphic cards and all. Trust me this is not right time for mining and don't waste your time and money behind it.

tenakha

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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 also think the future halving will affect the price. So obtaining BTC by any ways may make you profitable in the future. If mining is appropriate for you, you should not miss this opportunity. The recent increase in price was a hope for everyone, and this hope will not run out easily. If we continue with this price until the end of the year, next year will be better.

airdnasxela

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Everything will be decided by you after all. You know the factors need to considered when mining. The expenses is bigger (including the electricity you will use) so you have to think if you'll profit from it if you're going to go back into mining. Cause doing it alone at home may not be profitable. But I'm not stopping you if you really want to mine.

Suslived

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Quote from: tiang_tower on October 27, 2019, 08:31:36 AM

For those who already have a mining machine, it's better to continue mining, but those who don't have a mining machine would be a little overwhelmed too if they wanted to assemble it now, because the basic ingredients for making mining machines are obviously very expensive now.

You speak of mining as if it were a recipe to be cooked with ingredients. Lol.

But yeah, I agree that if you're just getting into the mining scene now (be it bitcoin or altcoin mining), save yourself the trouble and just don't. Mining is a complex business that isn't so favourable for home-based or small time entrepreneurs right now. Only those who can deal in economies of scale have profit in mining these days.

trauchot

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I think this is a good idea, because soon there will really be bitcoin halving and then bitcoin will be able to show new results and while there is a chance to act, altcoins themselves certainly have not shown growth for a long time and also growth is very possible when there will be bitcoin halving, so now there is still time left to start mining bitcoin or altcoins.

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