Will mining be profitable again? - page 11.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

I read somewhere that at $6,000 price of Bitcoin, mining can be profitable depending on the cost especially that of electricity in running the enterprise. Now, since we are now at the $8,000 level this can mean money to miners and with the miners ban in China this can be a good opportunity for newcomers to make a killing in this bull run. However, we know that mining is not profitable in many locations because of the expenses involved plus this business can be an issue with places with limited supply of power and sometimes politics can come into the picture complicating things.

kidoseagle0312

hero member

Activity: 1092

Merit: 500

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Correction, bitcoin at the moment was 8240$ according to the https://coinmarketcap.com/currencies/bitcoin/, So I think mining still profitable.
If I only have a capital to buy a mining rigs I will buy for sure, for sure those miners now are already gained or gaining more.

brilly17

newbie

Activity: 22

Merit: 0

yes with use of tools as miners to work on customs as following distinct on personal preference to collects as fine with the weight on lodge as expecting of returns with the target to complete within the terms of plan with the bitcoin mining.

fosco333

full member

Activity: 1260

Merit: 100

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Bitcoin has surpassed $8000 and i think mining bitcoin is slowly become profitable again.
But don't forget, when mining become profitable, many miners will come and mining again.
This will make the difficulty of mining rising, and miners will get less from mining.

Bulitt

member

Activity: 108

Merit: 11

Depending on your efficiency, and electricity rates, mining was profitable all the way down to $3500, when it was $3100 it was scary and I did turn my rigs off during that period, but ever since it was above $3500 I've been mining altcoins in profit on my small hodge podge of GPU's

syamster

hero member

Activity: 1078

Merit: 501

Quote from: BryanK on May 14, 2019, 11:02:27 AM

Mining will become profitable when the price of bitcoin rises above 10K$. Or you can try to mine bitcoin now if you have a free electricity)

It is the only issue that miner use to face that it consumes allot of electricity so if we will pay the bill at the end we can get profit as well but some people are not affording to pay so much electricity consumption, but in some countries not there is solar mining which is good project I want it to launch in my country as well.

macshad

jr. member

Activity: 280

Merit: 2

I think mining is as yet productive yet it is dependably give a little profit,lower that previous couple of months and year on the grounds that the cost of bitcoin is high so they can just mine solitary little amout of bitcoin. For me it is a great idea to do other bitcoin movement like exchanging and abundance since we can get more salary originating from this action contrast with mining.

jan.nicolas

full member

Activity: 672

Merit: 100

Quote from: aliceHortrex on May 14, 2019, 01:48:18 PM

Probably yes. Because the higher the price the more relevant mining. Because it will become profitable. Previously, when the price was not expensive, then mine was at a loss, and now you can earn.

This is not always the case; of course, there can be a lot of things, but the higher the prices, the more industrial farms appear, which today work and make cryptocurrency too vulnerable. Still heard about the attack 51%

H1N1

full member

Activity: 812

Merit: 100

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

It will depends not only from the price, but on the several factors like difficulties of mining, hardware price.
The more profitable, the more peoples will join to mining the coin, then the difficult will rising.
Maybe bitcoin will need to hit $10k, so the profit is great in mining bitcoin.

neonshium

hero member

Activity: 1134

Merit: 515

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

The more we have competitors in the mining space, the less profitable it becomes, also the more you mine, the more difficult it becomes to mine new blocks, meaning that you might not make the profit you are used to making when the coin just began its journey, though an increase in price will definitely make you earn high since your reward is in the coin and not USD, for example if 0.1 BTC was rewarded to you at $300 and the price of BTC increases to $10k, this means that your reward automatically increases to $1000 daily.

Bitkoyns

sr. member

Activity: 1078

Merit: 262

Quote from: Rogkim1 on May 14, 2019, 07:02:15 PM

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Mining has always been profitable, just need to know which coin is best to mine on the equipment that you have installed. To do this, you need to use specialized sites that allow you to calculate the best mining options for you, taking into account your equipment and software.

I think bitcoin is the best choice but it is still depends on the difficulty still if there were lots of miners that are mining bitcoin then it wont be profitable enough to say.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Actually, while we are not focusing into mining, there are still people that is capable to process our transactions in the market and the bitcoin's blockchain. We can just expect that the volume of miner will going to increase again if these trend will last not just a month. And still, mining is considerably profitable even it has a low market price.

Rogkim1

member

Activity: 262

Merit: 10

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Mining has always been profitable, just need to know which coin is best to mine on the equipment that you have installed. To do this, you need to use specialized sites that allow you to calculate the best mining options for you, taking into account your equipment and software.

minersday

hero member

Activity: 1484

Merit: 535

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Cryptocurrency mining has always been profitable in as much that the market value of most coin dropped. Mining is a long term investment venture which has good return profit depending on the current value of the crypto coin you are mining. Massive increase of the coin just doubles your profits. Most people in the mining ecosystem understands that they can only make profits from mining cryptocurrency after a long period and time of mining. Mining for two days or a week can't be used to tell how profitable mining is.

adekogbe

member

Activity: 854

Merit: 21

Obviously mining of cryptocurrencies is going to be gainful or else, nobody would mine it.
Notwithstanding when bitcoin was still very much undervalued, the system was as solid as regularly, implying that individuals were mining it all the equivalent. Miners can't stand to estimate and compute benefits that might possibly come sooner or later.
They have repeating costs which should be settled a seemingly endless amount of time after month. Presently, there may be subtleties, depending of the extent of the mining hardware one has, however by and large, yes bitcoin mining is gainful

@baoli

jr. member

Activity: 1162

Merit: 1

Base.protocol

The good news about mining is that if you can't get profit you definitely will stop it. So more mining is profitable once you use the right rig and computer. For sure miners will make more money once the price of bitcoin surges.

SlimShadyMmp

full member

Activity: 1470

Merit: 103

COMBO 2.0

Mining is always profitable It just depend on the rig you are using Most dedicated miners have enough capable Machine to handle all what the mining requirements needed the issue is when you decide to use a very low machine or just normal usage computer(1060-1080) for mining

bastian466

sr. member

Activity: 1372

Merit: 251

PredX - AI-Powered Prediction Market

If the cost needed to mine is greater than that income will be a loss so in the opinion if the high bitcoin price will help income to be high

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: sulis sudibyo on May 14, 2019, 04:00:13 PM

Quote from: joseyphil82 on May 13, 2019, 01:50:13 AM

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

if bitcoin is still under $10k, miners find it difficult to make a profit. the lower price for bitcoin should be $10k, then they can get profit. for now they can only survive, if asked whether it is profitable. it is clearly not profitable

They need to invest in renewable source of energy like solar panels to compensate for the cost of electricity.The initial investment is high but it will be recovered in few months time. Then, after that mining will definitely be profitable to them.

timoshani

member

Activity: 476

Merit: 12

https://imgur.com/1d0UcY0

Yes, mining will be profitable as soon as possible. I think this will be when the price of BTC go out of 7000-8000$/1BTC. But for mining, you must use more modern farms which is very expensive now. I'll be using cloud service for mining in recent time.

Topic: Will mining be profitable again? - page 11. (Read 13129 times)