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Topic: Time to get back into mining? - page 6. (Read 1102 times)

legendary
Activity: 2674
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October 28, 2019, 03:04:54 AM
#65
I think it's better that you do mining on altcoin because when you do bitcoin mining I don't think it will give good results because the level of difficulty of mining is already very high and the results are also very little while the repair costs for your mining equipment are also very expensive, so it's more good altcoin because the price can be expensive at the end of this year and the level of difficulty of mining is not too high.

Results, of course, for sure most of us can only afford to do alt mining but unless you're prepared to make a proper industry of it, get the right education and right equipment, don't ever try mining on your computer or laptop.

I even made the mistake of POS before and made a lot thinking I was smart but those coins just got worse and worse in value. I lost a lot in electricity and time.
full member
Activity: 924
Merit: 100
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October 28, 2019, 02:21:04 AM
#64
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.
full member
Activity: 980
Merit: 109
October 28, 2019, 01:31:30 AM
#63
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 are going to mine Bitcoin, then for sure it will be unprofitable. Most likely, you do not have the latest equipment available, and it is not able to give an acceptable hashrate. Only in vain will you spend electricity.
If you want to mine any altcoin, then you will not guess which one to choose.
sr. member
Activity: 641
Merit: 253
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October 28, 2019, 01:01:49 AM
#62
As the crypto market pumping, so, yes, I think it's the time to get back to mine again! I would suggest to mine giant coins like BTC, ETH, LTC, EOS and so on. But only Bitcoin can give you a confirmed profit, I am not sure about other coins, you have to be ensured by comparing with your electricity fee and mining costs!
hero member
Activity: 1386
Merit: 503
October 27, 2019, 11:51:06 PM
#61
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 good idea.
still will not be profitable even if later the price of bitcoin rises to 30k. the total cost incurred will be greater than the results (the more difficult to get bitcoin), unless you have a super sophisticated mining tool.
jr. member
Activity: 453
Merit: 2
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October 27, 2019, 11:47:44 PM
#60
seeing the recent rise in bitcoin prices surprised me and I don't know what is happening in this market that bitcoin can increase in a few days to $ 9,620 today .. Bitcoin has given me a lot of money from the initial investment of 5btc x $ 7,500 = $ 10,000 ? can you imagine in 2 days I have gained more than 1btc ..
this is a significant price growth, i don't really understand about mining, maybe it's not a bad idea, especially btc prices have gone up.
hero member
Activity: 2744
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Dimon69
October 27, 2019, 11:31:58 PM
#59
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.
Mining is too costly nowadays, I doubt if many still doing it especially due to electricity shortage in some countries. In my country it isn't profitable and those who tried it already give up. Some who still doing it might putting tricks in their electricity or like some news in other doing it thru renting in hotels.
sr. member
Activity: 896
Merit: 268
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October 27, 2019, 11:18:40 PM
#58
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.
legendary
Activity: 1820
Merit: 1092
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October 27, 2019, 10:41:48 PM
#57
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 ?

haha idk about that man, ETH is in like its last year of PoW (finally)
mining is just ending after like 5 years of profits, starting NOW would be insane imo
once ETH goes PoW imagine all that hashpower, do you think they will just quit? nope, it will move to other coins
any alt thats PoW is gonna be RIP, as 2 million GPUs hunt for something to mine  Shocked
sr. member
Activity: 644
Merit: 257
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October 27, 2019, 08:40:38 PM
#56
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 ?

Maybe, bitcoin halving is coming to town and many anticipate already that btc price will go boom again. But I dont know if it will be a good impact for mining since maybe the difficulty will increase for this. I see a lot of feedback that altcoins are better for mining than btc but some believe btc still profitable. I dont know this since I didn't try to do mining yet.
full member
Activity: 1624
Merit: 163
October 27, 2019, 08:09:53 PM
#55
Why would you want to mine even it it's not profitable? I don't get it because you could just buy the Bitcoin directly if you are hoping for Bitcoin to rise at $30,000 level. Unless you have a good rig and a cheap electricity, it is pretty stupid to mine Bitcoin at a loss. Just buy them directly, you will also help the market that way. It will also save you time and effort.
legendary
Activity: 2366
Merit: 1408
October 27, 2019, 07:08:29 PM
#54
I miss the good times of mining, but I'm good now, I don't want to keep a lot of GPUs mining, with a lot of problems to solve a lot of days during the week

I could do if the money is good, but the cost of electricity in my country is so expensive at the moment, that is not viable to mine

If you have a decent price of electricity, less than 10 cents, you can mine at a profit
hero member
Activity: 3150
Merit: 636
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October 27, 2019, 06:47:45 PM
#53
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?
Probably if you are just into accumulation and won't sell those coins that you've mine for the bill.

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 ?
Depending on the altcoins that you will mine, if I'll be on your shoe I'll be picky with the coins that I'll mine. I would probably gamble with some to mine with but won't waste a lot of time for them.
hero member
Activity: 2632
Merit: 833
October 27, 2019, 06:31:54 PM
#52
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 guess you really need a compute everything first before starting to mine again. I mean we all know that there are a lot of variables here, for instance the cost of electricity.

Question though, why did you stop mining? It is because of the long bearish trend? If that is you reason then you should stop mining at all. It's a business so if you can't sustained it (I assume) then it's better to just invest or trade and sell those mining rigs, just saying.
full member
Activity: 1904
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October 27, 2019, 05:56:20 PM
#51
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 ?
Mining bitcoin might be demanding and it is quite tedious, because the profit is not as it used to be. Also, not everyone can mine easily, even if there is support from any end, expected and unexpectedly. If you do not have constant electricity supply, most mining is

If you have cheap electricity in your area, why not? I have given up mining for so long already. But I have plans to buy solar panels in the very near future so I can get back to mining again. The initial investment is pretty expensive but I think, it is a worthy investment. At least, once you got your money back from buying solar panels, afterwards it's free, right?
sr. member
Activity: 1344
Merit: 270
October 27, 2019, 05:44:01 PM
#50
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 ?
Bitcoin halving always every four years, back to mining right now maybe you want to ready when bitcoin have higher price you have pass with mining last one year, how ever to start mining right now is not possible with price of altcoin still down, you can start mining if bitcoin and altcoin price n the top, you can get back your money with mining just few months if price of coin have high.
hero member
Activity: 966
Merit: 535
October 27, 2019, 05:39:36 PM
#49
I pretty much just gave up on mining after I had wasted money buying a rig I will never use since I was waiting for the GPU's to be delivered and they never came during the rage they were all sold out.
So now I have everything I need but the GPU's. I should probably be trying to sell it. I haven't even used it. Completely new. After that horrible experience, I am ready to pack it in.

Maybe on occasion, I will mine the odd altcoin while it is still yet to hit the market. You can make a few $$ that way. It is also to support and show support for the devs and their project. The idea of mining has been ruined by mass production like with everything. Sad
member
Activity: 798
Merit: 38
October 27, 2019, 05:19:53 PM
#48
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 ?
Mining bitcoin might be demanding and it is quite tedious, because the profit is not as it used to be. Also, not everyone can mine easily, even if there is support from any end, expected and unexpectedly. If you do not have constant electricity supply, most mining is
member
Activity: 585
Merit: 33
Rasputin Party Mansion
October 27, 2019, 05:04:58 PM
#47
Mining can certainly be an idea, but only if it is done in a truly professional manner and with large investments of support.
"Creating money at home" as someone thinks it is, it is no longer possible, because mining has become an activity reserved for experts.
jr. member
Activity: 102
Merit: 1
October 27, 2019, 04:57:44 PM
#46
Mining is profitable but not really an easy task I think as inhavnt done it before so don't know how it is
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