Is mining still profitable?

[ossama 150]

to be clear with you most of the people that are mining and earning profits are the people who have big mining farms I mean mining farms worth of 100k$ and more those people are making a decent amount of money although they where making better before like the previous year mining Ethereum used to make people earn 0.25 Eth/day but now there making a lot less but still profitable for the big farms on the other small projects it's not worth it   

[huesca123 946]

@speedxp Yes mining is still profitable. But cloud mining is better than building your own miner, in my opinion. It also depends what you want to mine. BTC is hard to mine & is getting less profitable. There are other coins to mine such as - Monero, LTC, ZCash ( ZEC ) & ETH.

 

Heres a link to make comparisons between different mining companies, reviews, payback time, etc. The web page clearly states their disclaimer - To do your own research before investing !!!!!!!

 

https://www.cryptocompare.com/mining/#/contracts

[Ab.Waheed 978]

It really depend at your place where you live. If the electricity of your country is cheap then you gain a lot of profit from this. How much coins are mines which you want to use. If you want to do it individually it may be not give profit. Solar are also used for this. It also depend upon the equipments which you use for this purpose. If they are better the gain is more. 

[Malik Ayaz 506]

Simple u are doing mining on local level with limited sources then don't go for the mining of Bitcoin and ethereum because their mining is hard and low rewarded by the time still look for newly coins which hold a good price in the market and mining is profitable 

[allfyou652 7]

I can't say it's still profitable you don't get much profit like you used to, but my advice to you is not to give credit to things like that because when I give it to you with a spoon, they scoop it up from you.

[MoralStories 1127]

The Mining depends upon the market, the total miners and the transactions that are been made per second, so the Mining is not dead but you can say that it is been reducing on daily basis as the rate grows.

[koljn 39]

It turns out that BTC mining isn't worth it. The price of Bitcoin just went way up, and speculators made bank. You don't need to mine to speculate on coin prices. Just buy the coin.

Mining isn't a set it and forget kind of thing, either. And returns aren't a sure thing. It's high risk, high reward. If you want a safer form of income, invest in a junk bond fund.

If you want to give mining a try, don't dump all your powder in at once, and expect to lose money. If you don't already have a GPU/CPU appropriate for mining, buy one and see how it goes. If things work in a satisfactory way, then add more.

[humna khan 242]

Only few countries are profitable where were electricity is cheap mining consume lots of electricity  in my country mining not profitable cost realy high but good luck to all

[guatazoo 7150]

On 10/5/2019 at 10:40 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?

Those mining rigs they are still mining even if the currently condition is not profitable, so what's they doing is to continue mining and keep their bitcoins and wait the bitcoin price to rise in order to be profited. 

[Flash009 345]

Mining works are still profitable because for most projects new blocks and network transactions need to be ensured. It depends on what kind of equipment we are talking about. Maybe they are not profitable for individual abilities. 

[Thechamp 287]

If you have decided to make an mining farm then you can earn upto 500 to 600 dollars in a day. But you have to work to make the system to perform better and you need high graphics card and also high processor.

[Tahabaloch 12]

Yes. Dear mining is profitable if you have some knowledge about crypto crcncy

[jahanhabiba29933 377]

If you can do real site mining then of course it is profitable.  Because now most of the mining sites are scammed and they do not make any payment.  And if you do mining on real site then you can earn a lot more money from there.  And that is definitely profitable for you.

[BinatGul 30]

 Some countries may be good for low energy, solar energy. I tried charging the electronics but it stopped because I have very little money on it.

Extraction is not the only thing we need to do. BTC is good for mining. But when we work hard, energy consumption increases.

[Obliv0n 333]

Mining will always be profitable in the long run of course, since miners generally keep coins and sell during bull runs or to private institutions that buy thousands of btc, which is profitable for them.

 

Even if the market is in decline for some time, it is always profitable to save the profits.

[Lx-Lana 153]

Mining works are still profitable because for most projects new blocks and network transactions need to be ensured. It depends on what kind of equipment we are talking about. Maybe they are not profitable for individual abilities.

[The Game 2059]

Actually yes mining is still profitable because people with good cloud are making profit on there mining and from my own understanding there are many new coins now that are good to mine such, pi and bee which have not been officially lunch into market. After these coins you will hold and wait for it to be announced and make your profit.

[Jizzy 115]

Mining will always have it own personal value amongs traders. True the value has dropped but I think soon the world will depend on stuffs like this to earn money and at that point people will again see the value of mining.

[Poppisnop 428]

Although mining isn't that profitable like before, but still money is still been made out of it but with lots of stress, because the average miner will struggle to be profitable to recoup the cost of mining hardware and electricity.

[Rizu 47]

Absolutely bitcoin mining is a profitable mining .Because the value of bitcoin is increasing day by day . Very soon cryptocurrency will replace local currency . This is happening because the transaction is easy in it. 

[Abrar1122 10]

for most of the cases if the mining was profitable in past for someone it will be positive profitable in future as well but if it was not in past it will never be profitable in future it goes like that

[teebasas 3018]

Bitcoin is definitely still lucrative, because if not, individuals will not continue to operate at mining sites. To gain good profits, it is best to use solar energy and decrease electricity usage.

[Rozy 1918]

I do not think that mining was profitable in the first place and I do not think that it will ever be, it is a mere waste of time and effort without any real income. I suggest that you think about something else like trading for example but first try to learn more about it and start with small amounts.

[Bushant 44]

Yes, mining is becoming more profitable than any other business  in the  world but Bitcoin is now becoming more profitable  with profit in the world  thanks. 

[KarlJohn1 56]

Mining has been profitable since the start of mining, but mining is becoming less profitable as more people are getting into the business which makes mining getting more difficult, but till now mining has been profitable.