Is mining still profitable?

[speedxp 111]

It has been a long time since the crypto market began to decline not following the crypto mining. There are two things I want to ask here:
• Do people still do a lot of mining with the current crypto market conditions?
• And also whether mining with current conditions can benefit?

[Danity 68]

i think mining still profitable as long the coin that you mining are not bitcoin/ltc/eth 

maybe you need to mine a new cryptocurrency that just launched and hold it until the coins listed on exchange 

[lozfel123 10]

They find different ways to mine some miners with google cloud and have a good profit

[cryptosix 1643]

Only few countries are profitable where there electricity is cheap or they may use solar power. I tried to mine electroneum and stopped because of low amount of coins it will mine.

Mining is not a work just we need to leave the system aside. BTC is good for mining, but the power usage will be more where we loss money for energy.

[Damayhem 7]

Mining all depends on situation u mine under if costs of electric are high you need to make more to cover costs 

 

If you have access to 0 cost electric internet ect your on a winner 

 

If you have access to solar you will make money but you need to roi your system first 

[BullRunBit 2773]

On 10/5/2019 at 12:40 PM, speedxp said:

It has been a long time since the crypto market began to decline not following the crypto mining. There are two things I want to ask here:
• Do people still do a lot of mining with the current crypto market conditions?
• And also whether mining with current conditions can benefit?

Please use search before you open new topic.

Of course it's profitable, it's only question which coin is good (currently) to mine.

And before start with questions about profitability first learn how to mine and what is mining cryptocurrency.

Do you know how much money you need to start mining? Example, you need rig which cost 1000$ till 2000$ to earn 1$ daily (this is just example it's not for sure and depends which coin you mine).

There are other questions too not only if is profitable to mine.

[s107n 5727]

Mining still remains profitable as it is necessary for most projects to confirm new blocks and network transactions. It all depends on what kind of equipment we are talking about. Maybe for individual capacities they are not profitable.

[Cryptobuy 10]

All I can say, the head of mining, is to take care of a coin that in the future will bring not a bad profit, but for this you need to very well study the coins that have this property, only having studied and realized that it will be profitable it is worth doing

[Stoffy 51]

It depends on the mining program. If they have referral programs there are always an oppotunity for profit and have a low energy option you can stack sats just fine 🙂

[Mohs3n71 0]

It really depends where you live ( how much you pay for electricity ) and how many miner device you have and how good are your miners, if you have a free or really cheap electricity it can be good and profitable

[BadmaN 11]

in my country mining really not profitable cost really high

[BadmaN 11]

38 minutes ago, alther said:

This problem also happens to me at this time, with electricityq and internet networks very expensive. when i calculated mining is no longer profitable. Sometimes I expect my country to free electricity like in Qatar or some countries that free electricity costs, how fortunate those who have a hobby of mining.

yes but if we rent mining maybe we can get profit 

[Cryptohash 702]

To be frank, having all perfect required equipment and mining some small coin which has great features can be more beneficial but we need to research more regarding it before we do it.

[oecp85 58]

Hello, mining profit come from several factor like Equipment you use and Electricity costs, mining will be always profitable if you are in a country with cheap electricity like Venezuela, here you can mine with any equipment and the mining will be profitable becouse the electricity cost is almost cero.

[redamoun 811]

On 10/5/2019 at 8:40 PM, speedxp said:

It has been a long time since the crypto market began to decline not following the crypto mining. There are two things I want to ask here:
• Do people still do a lot of mining with the current crypto market conditions?
• And also whether mining with current conditions can benefit?

    I'm not with you in this brother, you need to watch a channel on YouTube before judging the industry, mining is still profitable and you only need a good place, good tools and also where you can find a very good currency that can be extracted by your performance, and do not forget if it happens Any mistake, you can sell the tools you already bought for the process, but if you invest in encryption and something goes wrong, you'll never be able to get your money back.

[speedxp 111]

19 hours ago, redamoun said:

    I'm not with you in this brother, you need to watch a channel on YouTube before judging the industry, mining is still profitable and you only need a good place, good tools and also where you can find a very good currency that can be extracted by your performance, and do not forget if it happens Any mistake, you can sell the tools you already bought for the process, but if you invest in encryption and something goes wrong, you'll never be able to get your money back.

How could I watch youtube related to mining. Because mining is not my basics or background. So I just express my opinion, so don't be offended.

[Dammyrichie 131]

On 10/24/2019 at 10:46 PM, Thefighter said:

Electricity is just one of the many things that you need for mining. Before you have to pay for the equipment and that is even more expensive than the electricity so you need a lot of money to get started

Mining consume a lot of electricity and it need more funds to buy the mining systems, mining these days is hard

[speedxp 111]

8 hours ago, agentdosa said:

After I talked with the treading community, and I asked if the cryptocurrency situation worsened like this is still feasible to do mining ??? They answered that cryptocurrency was not always like this. Cryptocurrency certainly rose and mining as it is now still feasible ...

If the crypto market will continue to increase. Then the miners will follow this crypto market flow. Hopefully they can still benefit from the crypto market conditions that are still not stable like this.

[Migo 7946]

Yes you can profit from mining but not with some weak equipments, if you want to really earn from mining you need to spend some real dollars but don't worry you get them back 

[myaccount1 584]

1 hour ago, Migo said:

Yes you can profit from mining but not with some weak equipments, if you want to really earn from mining you need to spend some real dollars but don't worry you get them back 

Yes spending alot of money to buying the mining equipment then the chances of earning money is going to very increase and you are right the weak equipment is not a good way of earning through mining.

[yosef.zakkor92 39]

profitable or not that highly depend on the electricity cost in the country that u live 

[I-KUN 422]

On 10/6/2019 at 2:40 AM, speedxp said:

It has been a long time since the crypto market began to decline not following the crypto mining. There are two things I want to ask here:
• Do people still do a lot of mining with the current crypto market conditions?
• And also whether mining with current conditions can benefit?

if no one mining, how you can get the confirmation when you send some coin from your wallet since there is no block to be found? if you have a good hardware with a high hash, it still profitable. but if you have a low hash, you will earn a little profit.

[yifnt 666]

Of course it is still profitable, mining seems to have to exist to maintain the situation of the cryptocurrency market because mining really has an important role for crypto

[dmnqe07 365]

Mining is technically possible for anyone but mining wont be profitable if at a small scale .

The average home miner will struggle to be profitable or recoup the cost of mining hardware and electricity.

but the situation may improve if ASIC mining hardware innovation reaches the point of diminishing return.

[Cryptominded 704]

On 10/19/2019 at 9:29 AM, Shabbir81 said:

I think mining is not profitable now a days because price of electricity is goes up in all the countries and the coins price down in this way no anyone can earn money through mining.

I am afraid you missed it by your conclusion that no one is earning money through mining anymore. In that case, all the miners would have shut down and transactions would have no one to confirm them. I think the way to see it is that mining is no longer as profitable as it were, never the less money is still being made from mining/