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 ?
This is very reasonable in my opinion, get serious with the mining of altcoins right now then wait for altcoin season which might likely come next year. My reason for saying altcoin season might come next year is because bitcoin halving next year will obviously cause price uptrend for BTC, then when people start moving their BTC profit to altcoins, it should cause altcoins to increase in price too. Well this is just my opinion, I'm not certain. 
Topic: Time to get back into mining? - page 8. (Read 1059 times)
Personally I believe that mining is not viable unless you have access to cheap electricity fees or you can are a big entity that can get big discounts at purchasing mining hardware.
Furthermore I wouldn't get fund any investment that is not already profitable aka I know it is going to make me money. Why risk your money on mining when you will most likely get better results by just buying it.. I am not a fiancial advisor so treat my opinion accordingly.
Furthermore I wouldn't get fund any investment that is not already profitable aka I know it is going to make me money. Why risk your money on mining when you will most likely get better results by just buying it.. I am not a fiancial advisor so treat my opinion accordingly.
If we see from the market price it is now time to rise because the price of bitcoin has gone back up and if mining costs are enough there is no harm in getting back up, but if I think investing is more interesting because the results are faster than mining which takes quite a long time, so it all depends on each of our thoughts because personal belief is the most important thing.
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.
Are they currently selling altcoins under electricity costs and what are those coins? In fact, is there a place where i could track what coins are i should buy rather then mine in terms of the cost of electricity? That would be useful so i would just cross check them against their fundamentals.
As long as you have time to search for profitable altcoins and be ready to mine them in the early days of blocks, then you should do it. Also make sure you have some powerful gpu's and you're online here most of the time when the ANN Threads will be open and pools will be make public. Also if you have some asics, don't hesitate to upgrade to the next level in order to get more hash power.
Personally I can't mine anymore as gpu's are expensive here, electricity is expensive ...so I prefer simply to invest and hold.
Personally I can't mine anymore as gpu's are expensive here, electricity is expensive ...so I prefer simply to invest and hold.
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.
It depends on your method of producing electricity to run the computers and so if green energy is being used then costs will be lower. Also, a lot of power is consumed to keep everything running cool. In cold environments this isn’t so much of a problem as they can pull in cold air from outside. the cost of maintenance and the cost of the physical space the mining rigs use, should take into account.
There are also other factors such as lifespan. all mining gear becomes less effective over time due to the ever increasing difficulty of most blockchains. In other words, a mining rig that can mine 1 ETH per week now might only be able to mine 0.5 ETH a few weeks later. when we are in a bull market, even relatively slow equipment with expensive running costs can make a small profit, despite the current gloom (especially for alts), I think it is very likely that the market will start ticking up again eventually, so best time for mining again.
There are also other factors such as lifespan. all mining gear becomes less effective over time due to the ever increasing difficulty of most blockchains. In other words, a mining rig that can mine 1 ETH per week now might only be able to mine 0.5 ETH a few weeks later. when we are in a bull market, even relatively slow equipment with expensive running costs can make a small profit, despite the current gloom (especially for alts), I think it is very likely that the market will start ticking up again eventually, so best time for mining again.
Mining this days not profit as before, i think go to mining for most of us not good, may for who the electricity is very low in his country.
Mining is a profitable investment and it depends on electricity free country. So those are use solar panels for electricity it make good profit and majority of the peoples are concentrate the trading only so mining demand also increase upcoming days. Many new GPU mining rigs are enter into the market so old rigs are make low profit on current traffic. If you're living on the tropical countries like USA, mining is somehow profitable because as you said that's dependent with the electricity costs. Since tropical places like Western countries, is not having expensive power generation, unlike most asian countries. If I was having enough capital to buy solar power generation equipments, I would invest on that just to cover the cost of mining electricity consumption; so I could do mining operation successfully without worrying for huge bill for electric charges. Profit gains would potentially gaining higher profit, once it stabilizes.
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 has always been a long term investment something. You will not really see the profit of mining just within a few days of mining. Long term mining plan usually is not really affected by the market fluctuation of the prices of the particular coin you are mining. That is, you can still make some reasonable profit even if there is a drop in the market price of the coin you are mining so far as you are in a long term mining plan. But when there is a price increment, you either double or triple your calculated profits.
First thing that you must prepare is your toolset for mining, beside that electrical is the most factor that you must cost. You have a lot of deficit before it started.
I think mining is not major solution to earn crypto, there are still many ways to get it with no money in it.
I think mining is not major solution to earn crypto, there are still many ways to get it with no money in it.
I think that now and in 2020 there will be a big rush at POS Mining and therefore I do not understand why now you want to start mining on any equipment. mining is now profitable on an industrial scale but not at home
It seems to me that mining at home through GPU has become no longer profitable. Payback term is too long. Therefore, it`s much easier to buy altcoin at ones and to hold it in the hope of growth.
People are now used to halving and it would not make a huge difference as people would prepare for it. You can aspect the price of bitcoin gradually rising afterwards, so would rise the difficulty. It would never again be profitable for individual miners to mine bitcoin. These farms would always steal away all the coins however small the amount.
Mining this days not profit as before, i think go to mining for most of us not good, may for who the electricity is very low in his country.
Mining is a profitable investment and it depends on electricity free country. So those are use solar panels for electricity it make good profit and majority of the peoples are concentrate the trading only so mining demand also increase upcoming days. Many new GPU mining rigs are enter into the market so old rigs are make low profit on current traffic. 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 would probably rise with halving but that would not make its mining profitable from unprofitable overnight. Upto 20K or 20% in April 2020 would be my safe prediction for the rise in price. So, it's much better idea to buy some and hold. The bitcoin and bitcoincash mining are still industrial effort as all of other popular coins move away from mining.
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.
I really don't think that its a good idea to mine. Instead of paying high electricty bills, use the money to buy altcoins i think its even cheaper that way.
You don't even have to keep on checking your mining hardware for malfunctions and other stuffs.
You don't even have to keep on checking your mining hardware for malfunctions and other stuffs.
Mining this days not profit as before, i think go to mining for most of us not good, may for who the electricity is very low in his country.
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 know that even with the recent rise of Bitcoin, mining is a loss of money maybe due to high cost of power but if Bitcoin can be reaching more than $30K then it can be churning out some profits. That can be a gamble already and no more an investment because even if we are all awaiting the possible bull run there remains no guarantee that this time it can go higher than the previous almost $20K run. Now, it might be a little different story if you gonna be mining altcoins. But tell us what specific coin you are planning to mine again. I am sure you can now determine if there can really be a good profit to be made here or is the profitability really hinges on Bitcoin doing a big bull run?
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 on that the bitcoin halving affects the difficulty on altcoin mining if the altcoin bullrun comes with it. So this would be definitely the right time to run your gear when the difficulty is low and if you are not planning to pay the electric bills with cryptos right away. Are you planning to mine new microcaps or older ones? Because i would think that this is the time for mature projects.
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