Why mining is no longer recommended?

[maarcoferrer 1096]

Most people have stayed in the past as the return on investment with the mining company is no longer as it used to be, which was very large and profitable. What we must keep in mind now with respect to cryptomonies is that it is much better to trade them, this must be based on a good education at the time of doing so. Since crypto currencies almost never comply with any market structure or strategy and are somewhat more difficult to trade. But this is the best advice I can give you, don't look to undermine but to educate yourself to be able to trade!

[Eezabell 339]

Yes now A days No one Recommend You to Do the Mining. Because the Mining is No longer Present Between us when the Price of the Electricity has been Increased it is said that there is no Profit has been left for us miners in these days of Brutality.

[ibrahim halil anaç 138]

Crypto mining today is not as profitable as it used to be. Whether you want to do the mining yourself or through a mining company, this business is risky, time consuming, and not as profitable as before. My advice is to buy coins on the crypto currency exchange.

[Penata 324]

Because mining is very pricy you can only do it if you can provide the tools and equipment to perform mining. The tools are very expensive and the electricity you need to use also expensive because it works day and night continuously. 

[LOOSEPANT 65]

Probably the best way to look at mining is as a hobby. Mining may be profitable ,it may not be but the experience is where enjoyment comes from. 

[huesca123 946]

On 1/18/2021 at 3:16 PM, maarcoferrer said:

mining company is no longer as it used to be

Your right that mining isnt the same as it used to be. But in no manner is it dead or not profitable to mine anymore. Mining just like anything related to cryptos, has just improved & gotten better. Before you could mine on your computer or with GPU / CPU. Now the best miners are ASIC. Also, you can now mine easier coins than BTC & then exchange them for BTC.

 

Then you have could mining services. I know there are many scam mining sites but there are also reputable & profitable mining sites. Ive been cloud mining for over 4 yrs now. Im with Genesis Mining & Ecos Cloud Mining, see my signature about Ecos. Ive also made Topics about Genesis & Ecos here in the forum, in the mining section.

[Alex Morgan 420]

Yes mining is not really recommended these days. There are several reasons for that. Now a days mining is not that much profit able. If you went for it you can suffer alot of lose too. Now there are many other ways available. 

[Rozy 1918]

Indeed , mining is not profitable as it used to be , in the old days it was good, Bitcoin was at its early days and mining was good, but nowadays it is not that profitable, and the best way to earn from crypto is to learn how to trade, if you master it you will earn much more than you expect. 

[JanBomCrypto 494]

On 1/28/2021 at 10:34 AM, Alex Morgan said:

Yes mining is not really recommended these days. There are several reasons for that. Now a days mining is not that much profit able. If you went for it you can suffer alot of lose too. Now there are many other ways available. 

What tells that mining is no longer recommended is telling the wrong information. There is still profit in mining, so why not reccomemded again. Although mining is becoming difficult but still very profitable but require huge capital. 

[geezer 7581]

On 1/27/2021 at 11:34 PM, Alex Morgan said:

Yes mining is not really recommended these days. There are several reasons for that.

And what are those reasons? You are just a bunch of flooders here. Such topics will be reported and deleted.

 

My mining rigs are even more profitable than 6 months ago, when it was just awesome. Although ethereum mined 6 months ago has gained more than 300% in price and today's ethereum cannot beat it.

[AdCoins135 37]

I will say this with just simple answer, mining is still recommended. But require money to start. Most people that can not or do not have the money will make the excuse that mining is no longer profitable. 

[Akhi2021 131]

Hello friends, these are the reasons why I don't recommend mining.  The investment with the mining company was not the same as before.  Which was very large and profitable.  It is better to trade cryptocurrencies, while doing so it must be based on a good education.  You will not get good results if you do not know about it.  Since cryptocurrencies often do not adhere to any market structure or strategy and are a bit more difficult to trade.  So you have to work carefully.  But the best advice I can give you is to educate yourself to be able to do business.  Thanks

[Adnan bukhari 23]

Mining is bad for health : 

Not a good reputation. Underground coal mining is far more dangerous than surface mining, including the loathsome removal of the whole mountaintops.. As more miners complete for bitcoins rewards, the process becomes more older hardware. 

[MrSpasybo 1049]

On 1/28/2021 at 12:34 PM, Alex Morgan said:

Yes mining is not really recommended these days. There are several reasons for that. Now a days mining is not that much profit able. If you went for it you can suffer alot of lose too. Now there are many other ways available. 

@Alex Morgan Perhaps we need to be clearer: crypto mining is no longer profitable for small miners. But on the big mining farms, they still make very high profits from the increase in BTC price & transaction fees.

 

On 1/18/2021 at 5:16 PM, maarcoferrer said:

Most people have stayed in the past as the return on investment with the mining company is no longer as it used to be, which was very large and profitable. What we must keep in mind now with respect to cryptomonies is that it is much better to trade them, this must be based on a good education at the time of doing so. Since crypto currencies almost never comply with any market structure or strategy and are somewhat more difficult to trade. But this is the best advice I can give you, don't look to undermine but to educate yourself to be able to trade!

@maarcoferrer I don't think trading is the right and easy option for most people. It requires technology, knowledge and a little bit of luck.
If possible, I would advise everyone to pursue airdrop & bounty. Thus the risk will be reduced.

[geezer 7581]

4 hours ago, Ibrahim333 said:

it is no longer recommended for mining due to the high costs and the high price of electric power in addition to the lack of mining profits.

 

Should I stop mining or what? 

4 hours ago, Ibrahim333 said:

Mining needs special equipment

Obviously you cannot mine on your cheap smartphone - the only thing you ever had.

[aiham 488]

At the moment no one recommends you to do mining because mining has become expensive . It needs expensive mining devices and also needs a very large amount of electricity . Profit is good, but not as it was in the past, and there is a high probability that you will lose .