Why do people mine Crypto? - page 7.

elrugrim

sr. member

Activity: 686

Merit: 251

Quote from: Cryptokarl on May 10, 2018, 12:20:52 PM

The reason people use Crypto is making a lot of money from the easy way. He uses it anywhere in the world to send money instantly. The future is very beautiful.

what?
It is not only easy, it is even risky to make money from crypto.
Especially when you are in mining, you are depended on exchange rates always. If it is okay, you have profit, if not, you can even lose everything.
Currently, most part of people who are in mining have not one GPU or one asic, they have small mining farms with 10-20-100 miners there, only this way it can be profitable.

Cryptokarl

newbie

Activity: 154

Merit: 0

The reason people use Crypto is making a lot of money from the easy way. He uses it anywhere in the world to send money instantly. The future is very beautiful.

MiukoOk

newbie

Activity: 168

Merit: 0

Exploiting Crypto is always profitable for many, many have abandoned their main job to enter the Crypto market. They can generate high profits in just a short time, so focus on learning experiences.

padcoin

jr. member

Activity: 168

Merit: 3

Why people mine crypto, for the same reason than people invest in crypto to make money, wen you mine it is like participate in ICO, you invest your electricityin crypto

papagapa

member

Activity: 392

Merit: 11

Mining is not so popular as it was because the coinage of cannibal has become much more difficult, so the profit does not come straight out very quickly, except there are many risks...

Razick

legendary

Activity: 1330

Merit: 1003

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.

a_t_e_e_b

newbie

Activity: 140

Merit: 0

people mine if it is profitable for them we know that mining comes at great cost there is electricity hardware and maintenance and if someone is able to cope up with all of it then it a profitable miners are a very important part of this community we cannot imagine this whole system without them

Rokot

member

Activity: 448

Merit: 10

you have money - you have miner, you have miner - you have extra money doing nothing. It's a dream all of new rich peoples - have money doing nothing to have free time for fun. Of course in practice you must do something...

Cryptohad

newbie

Activity: 229

Merit: 0

Quote from: xprince1996 on April 17, 2018, 04:48:28 AM

People mine crypto because it was a source of income for some people who have devices that can mined crypto, imagine you are earning without doing just making good of your devices.

I agree with you, then bitcoin mining is a factor that can make transactions smooth, I think miner has a big task to maintain bitcoin existence, without miner we will not be able to do the transaction, and without the miner, the crypto world will die.

cahkalem

full member

Activity: 562

Merit: 101

a good questions with simple answer
people mine crypto because they believe with cryptocurrency
they think the value will growing in the future

Arcoin1

newbie

Activity: 196

Merit: 0

The reason people use Crypto is making a lot of money from the easy way. He uses it anywhere in the world to send money instantly. The future is very beautiful.

Sexton

newbie

Activity: 13

Merit: 2

Mining = passive income that is simply as that,who doesnt want to earn while you are sleeping? which is why most of the people wants to try mining but most of these investors are weak handed if they know they cant have ROI in 6months they would sell their rigs at loss,because the market has been bearish these people are panicking because mining wont be profitable in bearish market.

Monkeyseemonkeydo

member

Activity: 246

Merit: 10

If you're ready to put into business a huge sum of money, then mining is your choice. It's profitable but also costs a lot, as I see mining looks a bit comparable to gambling

bitcoinvestor

hero member

Activity: 812

Merit: 501

Mining needs technical skill. I also never mine in my PC. I bought cloud mining but some of the scam. I bought eobot , the income is too low. Now, trading gives more opportunity to earn cryptocurrency. For me, trading is more profitable than mining. for others mining give steady income. They will earn money in nearly the same rate every months. It is more comfortable for them than speculating in market.

Jansaa

full member

Activity: 392

Merit: 105

People will mining when the cost is less than the amount earned while doing the work! I thought it was important and decided that an Altcoin would be of great interest to the miners!

AgustaMod

newbie

Activity: 18

Merit: 10

Because mining would give profits when you are asleep regardless you are doing something ,this is a passive income that might be profitable if you have good set of mining rigs,but these mining machines are costly which is why i am not going to mine if i dont big initial investment those coins you have mined might be worth thousands of dollars few years from now which is why we need to keep those coins.

ColdZerk

full member

Activity: 364

Merit: 100

Most of the miners work for the future. Most of them (if they pay for electricity) can barely pay off or get a small profit.
And, of course, they all hope for a growth in the rate of the Cryptocurrency they mine.

seven2smoke1

full member

Activity: 532

Merit: 132

Quote from: Larster on April 17, 2018, 05:50:16 AM

Because they have cheap electricity and some free money to buy a miner. And of course they believe in the coin.

That's right there is a lot of countries that have a cheap electricity, so people who have money. They go for buying miners hardware weather antminer or GPUs, so they start to mine the crypto that they believe on it.

Larster

newbie

Activity: 24

Merit: 0

Because they have cheap electricity and some free money to buy a miner. And of course they believe in the coin.

chris200x9

legendary

Activity: 1316

Merit: 1011

Quote from: coinmaster241 on April 16, 2018, 08:18:26 AM

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.

In many countries, the electricity will be a big concern because most of the developed countries electricity charges will be quite high and it may not be economical to mine so most of the big miners move to where electricity charges are less.

In my country also electricity charges are high so it is not profitable to mine.

Quote from: xprince1996 on April 17, 2018, 04:48:28 AM

People mine crypto because it was a source of income for some people who have devices that can mined crypto, imagine you are earning without doing just making good of your devices.

I don't think you can earn much from mining from your PC. I think it is a waste of your time and you may spend more money for your electricity than earning from your PC.

Topic: Why do people mine Crypto? - page 7. (Read 837 times)