Advantages and Disadvantages of Mining

[Hami 42]

I really don't see any positive things in mining only if you have a material to mine with if not no, for desavantage it's a lot harm your phone or computers and wast time without any earning

[Ahmed1392000 15]

Advantage financial return from currency mining
Disadvantage the amount of energy you consume and that it may damage the device you are preparing with

[mildred27 317]

The advantages of digital mining are many, among the most outstanding are the following:

 

*You do not have intermediaries to obtain your coins.

*Cryptocurrencies are global currencies and have value anywhere in the world.
 
The cryptos that you obtain are not regulated by any bank or government entity.

 

The disadvantages:

The machinery is expensive.

Mining electricity costs are high.

[FIA17 44]

Positives are that you are earning something for basically doing nothing other then setting up your miner initially and then simply making sure that it is always mining which is achieved via email alerting or such. Negatives however are major as well as there are high initial hardware costs, you require in some cases specialized hardware. Energy costs are a constant and a dynamic factor. Noise will be created by the miners and you need the cooling and the space to have your environment running.

[shivera605 10]

Electricity expenses for mining
Another aspect that is noted in the pros of cloud mining is that the user saves on electricity costs. Mining teams carry out intricate computing operations to validate or reject the information blocks that come to them from other nodes, and these operations translate into high electricity consumption. If the cost of electricity is high in the country where you reside, the profitability of on-site cryptocurrency mining may not be enough to generate the expected profits.

The people or companies that offer mining services in the cloud have the equipment properly installed so that those who hire said service immediately dedicate themselves to mining cryptocurrencies. This allows users to quickly get started with very little investment.

[Petatero 38]

Thank you very much, following your question about mining and learned by reading the comments one or other things.

[Emroyz 58]

Outstanding mining qualities they can help prove our transactions we have created, but the defects are that they are not actually considered profitable

[rocki 319]

On 23.11.2019 at 22:48, Muphin said:

I created this topic so that each and everyone of you can have knowledge on how does mining work and the effects of it. 

 

Please list all the positive and negative sides of it. Thank you very much! Hope this thread would help many and give them enough knowledge and what they could get from mining and also to know its shortcomings.

 

This is for those who have few knowledge about mining like me, I have like 0 knowledge about it. 

I think that the advantage is that nobody will deceive you, I think that the disadvantage is the high cost of a professional miner and the cost of electricity, and the device can easily break down.

[ibrahim halil anaç 138]

In order to do this job, you will need to have very powerful and many computers. It is also necessary to have good hardware and software knowledge. A lot of money will be required for these devices and electricity money. It is not certain that you will profit from the crypto money produced.

[minisrt_black 1112]

the advantages of mining are that it is a passive income, the disadvantages are that it has a long payback period and you need to carefully monitor the condition of the equipment as well as large expenses on electricity

[huesca123 946]

If you buy your own equipment to mine, it can get expensive. Sometimes, by the time your equipment has paid for itself, it is old or antiquated. It also depend on what coin you are mining. BTC nowadays is not very profitable, if at all, for an individual person. There are huge mining factories in the world, that you have to compete with. You also pay for electricity to run & cool your miners.

 

Its a lot easier & more profitable to buy mining contracts, from a reputable mining company. You can mine different coins when you buy contracts. Im promoting Genesis Mining. Its been around for ages & is very reputable. In a Topic I created in Referrals called - Genesis Ming 3% Discount - I posted screen shots of my recently bought mining contracts. To show I have bought what Im promoting.

 

The best you can do is not believe me or anybody else. Do a Google search to find the best, most profitable & reputable mining companies out there. You will see that Genesis Mining is one of the best.

[Rafin478 614]

Mining is very profitable because we can earn money from here and we also get a huge profit from here disadvantage is many sites are scam if you invest them then your full profit is lose 

[joemcgwa 3227]

Advantage of doing mining especially for bitcoin it help to bring those remained 4 millions bitcoin and also help to us when we transferring our crypocurrencies to another platforms, so that mining help in confirming those transactions.

[Ramz99737 1196]

I think mining is a form of gambling because you are not sure about result that can you use these coins in market or can you exchange them into traditionaly currency, and you will be able to have some profit from this or no if you able to have some profit then surely you are lucky. 

[pourinbubbly 166]

If you are going to do it from a computer, it depends on the hardware of your computer, but mining is very damaging to hardware parts, and it is very difficult to earn from a single computer, so if we include both the electricity and the cost of the parts, the profit you will make seems almost nothing. Mobile cloud mining, on the other hand, seems beneficial, but it needs good research. As for cloud mining, most of them are scams, so my experiences are in this direction.

[Maya20 1048]

One of its disadvantages is the waste of a lot of energy and electricity, but it also has advantages, with which you can earn money, and this will help you cover your expenses.

[Maaz sultan 265]

I thinks that time the mining difficulty increases as many institutes set up their own mining farm so small miners have small chances to mine with profit but another barrier if electricity cost that affect all over the profit at=after all the calculation the sum is gong less .

[Penata 324]

The advantage of mining is you can earn cryptocurrency passively. And mining cryptocurrency has many disadvantages the tools and equipment are expensive also it costs a lot of energy to perform mining. The earning may depend on your mining rig. You need to spend more money before you will earn cryptocurrency.

[Rozy 1918]

The advantages for me are that you can literally work from anywhere , you can download a mining application on your mobile or laptop and work from your house's garden or even when you are on a bus, it is also easy and does not require any special skills, while the disadvantages are is that the income is soo little , it is barely sufficient for the costs of the electricity and the internet.

[Mr.Rayan 2]

Thank you very much for this post. I benefited from the comments. There are a lot of tips about mining that I did not know about.

[KAIDI 204]

Advantage of mining is you can earn a lot of money daily and disadvantage is that you need to spend a lot of your money in buying high performance computers with an powerful graphics card.

[Flash009 345]

I can say that excavation is profitable but if you provide its necessities and some of the disadvantages this day excavation is so expensive then you need a lot of energy and powerful tools, as a general idea you have to spend a lot of money to start excavation. 

[Obliv0n 333]

Mining is debited according to the algorithm to which it is directing, although the advantages and disadvantages do not vary much from each other, for example:

* In both bitcoin and eth mining, etc., energy consumption is a serious problem, which is why solar panels are used.

* One of its advantages is the fact of achieving economic independence, miners tend to squeeze more their lives, due to the free time they have.

[BinatGul 30]

I recommend digging at home, because 10% is not so difficult. There are many holes in the cloud. If you want to start at home, a long choice is a good choice. Making money is great, but the next step is making money. To read regularly, you need to read regularly. You need more than luck to succeed in affiliate business.

[Bushant 44]

The advantage of mine it make profit and the disadvantages  is when the market profit easily fall the the economic  market. It advantage is also when the mine make profit and is a good investment.