Is mining still profitable?

[febriyana 934]

Currently i still mining some altcoin.

I don't mining Bitcoin and some old coin, because the difficulty is really high and i don't see profit from it. I also don't mine new coin released, because there is big chance of scam.

Why i still mining? First i want help blockchain to verify transaction by block. Second is i want hold that coin, because i see have a potential to growing up and make a profit.

[Fadzinator 285]

At the current price, I think it's no.
But if you mine for long term. it will be.
So mine low difficulty and high promising coin now. stack-up. then sell it in the future - in the next bull run

[silvergain 271]

CPU mining is not profitable at this time. Because of higher electricity and lower rewards program. But it also depends on which coins you gonna mine. I am mining XMO and this is the top most famous coin for mining CPU. i can not effort AISC tools for mining bitcoin that is why i choose XMO coins. Later on i transfer it to yobit for trading.

[Akbor 1042]

I think mining is still profitable. mainly mining is very much profitable for whom who has no asset to invest invest in crypto. I do mining besides investing.

[jyfiuhookl 10606]

Those who invested in mining on video cards at the peak of the price lost less than those who bought Ethereum at 1400. Because the equipment is not so devalued!  Now these miners already have profits! And Ethereum holders have only losses so far!

[Mohammad Irfan 26]

Mining is still profit if you earn and hold your coins for future profit.This would be not a bad idea to get big profit .The value is increasing day by day and even it is still profitable to mine cryptocurrencies

[umer61 8]

In my opinion, mining is not profitable. I joined and invest in dozens of mining websites but only few of them gave me withdrawal and as time passes they all run away.

[Zentoly 419]

1 hour ago, Mohammad Irfan said:

Mining is still profit if you earn and hold your coins for future profit.This would be not a bad idea to get big profit .The value is increasing day by day and even it is still profitable to mine cryptocurrencies

You mean when we start mining and those coins when we will earn then we need to hold it..... I think when we hold that coins for future then how we will pay the electricity bills.

[silvergain 271]

mining is profitable but before you gonna mine you must have the proper knowledge about it. for example: i study on mining history. someday bitcoin was huge profitable and right now only monero goes to the top priority while mining issue has been arise. its more profitable and valuable than other block reward programs and more accurate now a days.

[geezer 7581]

12 hours ago, silvergain said:

right now only monero goes to the top priority while mining issue has been arise. its more profitable and valuable than other block reward programs

Why do you think so? Care to present examples? A 3800 Ryzen CPU may bring a gross profit of a dollar per day. There are no used CPUs like that because it is a new model. Still it costs $250 alone without mobo, RAM etc.

[Saifchy 94]

According to my opinion Mining can be profitable. Because i am profitable by mining.For mining you should have lots of patience to be profitable. 

[geezer 7581]

48 minutes ago, Digicoin said:

Can you tell us the cost of the miner you are using

In 2nd half 2017 I paid $2500 for 10+ GPUs, CPUs, motherboards, RAM, HDDs including a couple of fancy PC cases which were purely for aesthetic pleasure. Since then I sold older GPUs and bought newer ones to improve hashrate/watt ratio.

48 minutes ago, Digicoin said:

Can you also tell us the profit in bitcoin?

I sold bitcoin received from Nicehash and approximately returned my investment by February 2018.

48 minutes ago, Digicoin said:

To me, mining is not that profits.

What is your mining experience?

Edited December 14, 2019 by geezer

[geezer 7581]

7 minutes ago, Digicoin said:

I do not mine. I only knew a friend that mine.

I see.

8 minutes ago, Digicoin said:

He stared lately and he his using ASIC to mine after joining one mining pool. He told me that mining is not as profitable as people could talk about it.

ASICs are not that flexible as PCs in choosing coins for mining. But he is right, profits have decreased somewhat.

[geezer 7581]

Just now, Digicoin said:

ASICs are also very expensive.

Back in the days when new ASIC models were highly profitable they were not sold anywhere, I didn't stand a chance.

 

Where can one purchase an ASIC in your area?

[geezer 7581]

5 minutes ago, Digicoin said:

You will consider buying it online. No where they are selling it around here in my area.

And what about the delivery? Are the border customs OK with this kind of equipment? How did your friend get his ASIC?

[geezer 7581]

1 minute ago, Digicoin said:

Customs will not do anything about it

That is good then. Our customs require some certificate and only big importers can fix it, so no way to buy such things on your own.

[silvergain 271]

5 hours ago, Aminul Islam said:

Bitcoin mining is profitable if your country give you permission. Because it will cost many electricity. First one or two year need to cover your investment then you will get the profit. You have patience about that then you can get a passive income.

as you said, have to mine at least 2 years to return my investment then i may think about profits. here is the point: whether can i patiently continue my mining for rewards or not. nonetheless i prefer to mine monero with cpu and gpu if you have it. and if your cards are good enough to provide higher hash rate with low electricity power consumption.

[tienda 8776]

Im not sure is still profitable, maybe 2 or 5 years a go yes, but now hmm I m not sure, first you need a potential machine and there are some cost to pay about energy and maintenance....etc is not free and easy to mine.

[DrHaman 375]

I'm unsure continues to be lucrative, perhaps two or even 5 many years a chance indeed, however right now hmm We Michael unsure, very first you'll need a possible device, as well as there, are several prices to pay for regarding power as well as upkeep.... and so on isn't free of charge as well as simple to my own.

[steel123 54]

I believe that you need to have cheap electricity, a good hall and a safe place. Mining had its time when prices were high.
Currently, only large companies with cheap electricity in a suitable country such as Ukraine Russia? can do something about mining

[Whydoyoucare 1094]

Well if you are living in a country which the electricity is not that really expensive, then i can say mining is profitable. but if you are living in a country that electricity is really expensive, then mining is not worth at all.

[babdus10 16]

it depends on the coin you are mining, i think you can go for the lesser coin.

[Zonayed 19]

Mining is a big task. So inspite of individual mining you should invest in large mining pools or legit mining sites. Then you can hope for some profit in future. Do your research beforehand.

[Alex Nelson 0]

It depends what are you mining.

Trick is if your cost of running mining is under what you can buy in that month then it’s good to buy and save electricity and at the same time get the same amount of coins that will be mined in a month.

Difficulty level changes everytime and benefit of buying in one shot gives you an edge as you dont have to wait full month to get all mined coins in your wallet.

Profitability also matters if you have large setup. So, I will advise compare your mined coins value with the current price then decide whether to continue mining or buy directly. As your rig life is also invested while its running and why to consume electricity if it can be saved.

[febriyana 934]

3 hours ago, Amxy said:

Mining is profitable and the profit depends on the coins your mining.

Yes that is right. Before mining we must atleast check what coin we need to mining. Not all coin can be mined and profitable. Where for long run choose coin with limited suppy, this will make the chance the price not stuck and going down always. Because there is some coin have unlimited supply, so when we trade it we need many queue to selling.