Topic: Why do people mine Crypto? - page 5. (Read 837 times)
I think that today many people mine crypto because they understand that it is really profitable and crypto can become a good investment. I think that today, there is no a person who has never heard about mining
People are mining crypto because the source of income for people who do not have capital for the inves and cripto is very helpful to us.
People involved in crypto aims extra income. If people involved in mining, then it is their way for gaining profit.
Mining needs a computer and a special program, which helps miners compete with their peers in solving complicated mathematical problems. This would need huge computer resources(power supply, processor, graphic cards, memory and etc.) Cryptominers would attempt to solve a block having the transaction data using cryptographic hash functions.
Mining? I dont think it's an easy job.
Mining needs a computer and a special program, which helps miners compete with their peers in solving complicated mathematical problems. This would need huge computer resources(power supply, processor, graphic cards, memory and etc.) Cryptominers would attempt to solve a block having the transaction data using cryptographic hash functions.
Mining? I dont think it's an easy job.
It is very simple answer with clear economic sense. Most of people want to get profit. But some of them it is a profession and they get profit on permanent basis. For others it is funny game and they get profit if they are lucky only. But money in the center of most mining activity and I don't think that it is related to the principle of decentralization:)
Right, but it doesn't mean that you are mining that you will become crypto millionaires overnight. You need capital to begin with, lots of it, good environment and the profit is not that profitable in the beginning. Yeah, for most of them, its not just profession but obsession as well. Imagine mining certain coins and becoming a bag holder of it.
I still remember stories back in the days with bitcoin can be mine with CPU, a lot did have a headway and they mine hundreds if not thousands. Moving back 5-8 years, they are not crypto millionaires with still a lot of bitcoins in their hard wallet.
In my view, The thing about mining that is profitable to buy is that by mining you just keep getting coins as long as you keep mining temporarily by buying, once you run out of money, you can not get more coins. other ways to make money have some risks such as mining so I do not think mining is much more complicated than that of money miners.
It is very simple answer with clear economic sense. Most of people want to get profit. But some of them it is a profession and they get profit on permanent basis. For others it is funny game and they get profit if they are lucky only. But money in the center of most mining activity and I don't think that it is related to the principle of decentralization:)
Mining is also a good choice in earning some cryptocurrency but it depends on the nature just like in some places. They need a mining rig and gadgets that they can use and of course they will spend money for it but sometimes it is not necessary just like here in my place the price of electricity is high and it is not necessary if we do mining in our household. Sure it is a good way of earning but you must level or fit it to your surroundings.
mine is in a very crypto produce. Although so many are complaining it will especially if speaking of the costs used to mine. free site does exist, however, the results also will not make the rich or even not enough for anything. dare pull out large capital needed to mine the very facilities or bills because it certainly will also produce a large amount of crypto.
I buy miners for mining ETH. ETH bring more profit for me. 
I really like crypto miners, because for us crypto is also very good, because in the future will grow better, so we believe that krypto is a better future.
The thing about mining that make it advantageous over buying is that with mining you just keep getting coins as long as you keep mining while with buying, once you run out of money, you cannot get any more coins. So I think that the idea of continously getting coins is what the most attractive part about it is. Also there is also the fact that miners help to keep the network running.
I am nit in very much favor of the mining of any of the crypto coins and that is because of the reason that mining demands you to have high investment amount and that you need to have some very large amount of capital to set up the mining field. After that, you need to have a huge amount of power and electricity resources and that you need to give enough of your time and efforts to mine any of the crypto coin. 
A year ago this was a popular and profitable business. Now, just unprofitable, it's easier to participate in the bounty. But I do not think for long, until the crypt grows.
People mine crypto because mining is more like a free way to get some coins. A lot of people who have such a large stash of coins actually made the coins from mining and back then a lot of bitcoins could be mined using just a laptop or a desktop with a GPU but now that is not the case. They mine because it is a good way to get a lot of coins without having to buy the coins yourself.
I think mining is one of the best ways to earn passive income. However, you need to be ready with your capital to start a profitable mining business or else you will not earn much.. I prefer trading since i don't have that much capital to start with.
As we all know, the volatility of the crypto market depends on its characteristics. This is a decentralized supply. As the popularity grows, it will resonate into the profits earned. I think that is the main reason why mining crypto is becoming more and more popular and attracts many corporations and companies to invest in this field.
Mining is interesting. With a little knowledge, you can make a few computers that will provide money for you and your family
Mining is a profitable investment if you have the major factors on hand which is not causing you to gain less than to gain more. Electricity is one of these factors. If you are living in a third world country, you will absolutely say that mining is a very expensive investment because you don't have a free electricity unlike other countries.
perhaps one of the reason is some people prefer to invest something tangible. another thing is mining is a passive income this is good especially for people who are not comfortable doing trades. And in case the crypto market collapse they still can sell their GPU's to return some of their money. some miners don't trust buying crypto's fearing the value might go down. In simpler term, they prefer investing in something they are comfortable.
It's true Mining for some people are more preferred than buying, because it looks its work with its own hardware. But the problem here to be able to start mining the crypto capital issued is not small and should consider the following
- Hardware Care / week,
- Replacement of parts (in case of damage),
- Electricity Payment (subject to use), etc.
i wonder how do miner feel if they can't get enough with their expenses.
miner unit is really expensive and you need to do maintenance as always.
electricity is really cozy and you need to have a cool place.
i just want to invest and trade and do bounties than mining.
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