Is mining still profitable?

[raking 50]

mining cryptocurrency increasingly difficult, many miners have closed their miners and looking for another job. Bitcoin is an example of how difficult it is to mine bitcoins and the less it becomes profitable.

[Phongg224 33]

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

[Whited35 15285]

Mining is still profitable but you should have sufficient electricity supply and good quality mining equipment. This year, Ethereum miners were extremely lucky to grab the highest rewards. If you were one of them, you can just imagine how much you'd manage to earn reward.

[SuperCrypto 7193]

I do not think that the Bitcoin mining process is still beneficial and profitable, and with the increasing competition and the increasing difficulty of mining and the cost of the equipment you need. By deducting the cost of the electricity you need to mine, you will find that you are losing the most.

[leakydonney 1402]

Yeah mining it's still profitable but before investing you have to dig deep if it's legit or not because some of them are scam which can waste your energy and time although there are some exchange platform like Yobit offers virtual mining which is trusted one so it's better to check on it if you want to mine.

[DS#SAQii 1114]

Though mining profits have declined since many years but still you can earn handsome profits from mining. For mining you should have a big platform, mining at small scale is not profitable.

[Dany2 0]

On 11/23/2019 at 9:26 PM, Aceventura said:

I think, mining is still worth it. Today, mining is considered as a business. There are many people and companies that are investing in resources in order to mine cryptocurrencies.

 it is better to trade or invest money in something else otherwise you would be spending your money to pay for electricity and a lot of equipment that becomes grand every year.

 

[Jandancoin 482]

Mining difficulty for many cryptocurrencies is increasing, the new cryptocurrencies that are now existing are not having much value, this makes mining very hard. But mining is still profitable. 

[RoyalHouse01 9]

The people who are mining are still mining because if the reward gets low the rate of the coin gets high so in the equality the reward in usd is the same all the time.

[yato987 2811]

mining is still profitable but of course not as before , profits are much lower compared to that time , and also now it's not recommended to mine on your personal computer because it will reduce its performance  over time and at the same time won't make much profit which means you are destroying your pc for nothing , to be able to make income and good profits you need to have a lot of strong processors and graphic cards, electricity and good cooling system to keep your devises safe from getting damaged by high temperature .

in other words the answer to your second question is no

[Dany9 0]

On 10/9/2019 at 3:01 AM, s107n said:

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.

 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.

•  

[Yomose 3704]

20 hours ago, Dany9 said:

 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.

•  

Electroneum is a good coin to mine, how are you trying to mine it? To mine electroneum in a profitable way, you will need GPU like Nvedia or AMD, or got for ASIC like antiiminers. 

[Gabriels100 157]

I think that mining is profitable because it is a process that needs to be carried out, only that a lot of computing power is needed to obtain good profits and with the condition of a low energy cost. I think it is so profitable depending on the investment that a person makes.

[Rakib408 135]

Mining is profitable cause there we can earn extra income with earning money easily and there have no working hard for earn easily. So I think mining income is profitable income to us.

[geezer 7579]

Mining profits have increased a lot starting August 2020. Those who have sold their cryptocurrency before today are losers and noobs.

[Kami505030 1617]

In 2020 there are many sites which provide us good amount of btc or any other currency. And plays important role in our daily life.

And people are still love mining and promoting this every where.

[minisrt_black 1112]

it is profitable but it will take a very long time to pay off so think for yourself whether you need to spend money on electricity as well as on monitoring thermal equipment and so on

[joemcgwa 3227]

Of course mining is still profitable but its not profitable all the time because sometimes its contain high uses of energy you have used but low income thats cannot cover losses from your energy cost.

[Antonio Mendoza 173]

Probably when you made this topic the mining was not to profitable but today we can see the bitcoin on 18,700 usd, you can imagine right now all the miner are really happy with this price becuse is really profitable mining in this moment good luck to all miner.

[OVIROY21 499]

Yes mining are still profitable but not all coin are profitable. If you want to start mining then you need to realise which coin price are stable and going high.Then you need to mine this coin to profite recently bitcoin mining are best and profitable. 

[Flademer awslow 620]

Mining is profitable for this time, my friend, and in all its forms, it is considered a successful project, but in order to earn a lot of mining, you have to spend some money to get good equipment, especially for this field.

[Amiami 1362]

mining is profitable as long as you know how to manage resources and make the most of them.

 

For example, within ETH mining, events such as the one that happened with the Raven currency should be taken advantage of where the network was completely changed and many earned thousands of dollars in the first days, in the case of bitcoin or other currencies, a constant is required Hardware update since the conditions where they work are usually adequate but can sometimes damage equipment due to overheating

 

Faced with this problem, many miners have opened farms in countries where the political and economic climatic conditions are acceptable in terms of mining, that is why recently in America, especially in places with low temperatures, mining farms of Chinese origin have been opened and Russian which see more profitable mining in this continent than in Asia

mining is profitable as long as you know how to manage resources and make the most of them.

Edited November 25, 2020 by Amiami

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[Ramz99737 1196]

Well, there are many people mining Bitcoin but in a large scale, so that it can reduce costs. In a situation where the price of Bitcoin goes down, it is not profitable if mining Bitcoin is done individually.

[Penata 324]

Mining is profitable especially if you mine those popular coins that has also great value in the market. Like Btc, Eth, Xrp, and dash that crypto has the potential earning in mining especially now the price of all coins are increasing especially bitcoin.