Is mining still profitable? - Page 14 - Mining - CryptoTalk.Org Jump to content
speedxp

Is mining still profitable?

Recommended Posts

Yes alot of people doing mining and it is the very profitable but to do mining you have to buy a better graphics card for each rig which is very expensive

Share this post


Link to post
Share on other sites

In short, my friend, in order to be able to make a profit from mining, you must generate a high hash, and to generate a high hash, you must have a mining device, do not try to get a profit from mining through a normal phone or laptop.

  • +1 1

Share this post


Link to post
Share on other sites

Mining is a good source of income for those who can not make their business yon their own. It provides you the crypto currency without doing efforts and especially it protects you from the headache of business problems.

Edited by Sheikh Zia
  • +1 1
  • +4 1

Share this post


Link to post
Share on other sites

Yes the Mining of the Crypto is still Profitable like the trading and the Investing of the Crypto In the Yobit Invest Box. This is what the mining is the Life Partner of many people in the World. The People From the Pakistan and the Middle East are still using the mining of the Bitcoin and the ZCASH.

Share this post


Link to post
Share on other sites

If you have a low cost power source, it is profitable.  There are many renewable energy companies that you can discuss terms with.The service provider maintains and supervises for a fee, while the investors return at the end of the agreed time.

Share this post


Link to post
Share on other sites

Regardless of whether the impact is overblown by the media, it's a fact that the underlying cost of mining is the energy consumed. The revenue from mining has to outweigh those costs, plus the original investment into mining hardware, in order to be profitable.

Share this post


Link to post
Share on other sites

@speedxp Obviously, mining is not profitable as it involves the usage of a lot of energy and time to earn a low amount of income but if you intend to HODL the tokens for a token to pump as days goes on they could be profitable

d.jpg

Share this post


Link to post
Share on other sites

when the rate of cryptocurrency goes down the mining increases the profits that means if the market is down there would be more beneficial mining

Share this post


Link to post
Share on other sites
1 hour ago, CryptoSkye said:

As you have said, it has been a long time but yeah, mining still has its own value and profitable. Though I can not assure you truly, but try mining different crypto currencies unlike Bitcoins which is pretty hard to mine nowadays. 

@CryptoSkye Bitcoin mining is getting more difficult as the mining reward is reducing right, and also as the mining difficulty is increasing. But did you know that the mining difficulty algorithm is set to make new bitcoin which is currently 6.25 btc to be mined in averagely 10 minutes and also the increase in bitcoin price resulting to bitcoin mining to still be profitable. 

Share this post


Link to post
Share on other sites

Bitcoin mining is the method of gaining bitcoin in trade for running the confirmation prepare to approve bitcoin exchanges. These exchanges give security for the Bitcoin organize which in turn compensates diggers by giving them bitcoins. Mineworkers can benefit in case the cost of bitcoins surpasses the taken a toll to mine. With later changes in innovation and the creation of proficient mining centers with colossal computing control, as well as the moving cost of bitcoin itself, numerous person diggers are inquiring themselves, is bitcoin mining still beneficial? There are a few components that determine whether bitcoin mining could be a productive wander. These incorporate the taken a toll of the power to control the computer framework (fetched of power), the accessibility and cost of the computer system, and the trouble in giving the administrations. Trouble is measured within the hashes per moment of the Bitcoin approval exchange. The hash rate measures the rate of fathoming the problem—the difficult

Share this post


Link to post
Share on other sites

Hi Dear Friend,

Yeah, of course mining is profitable and 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 but i ask maybe.

Share this post


Link to post
Share on other sites

Of course, mining is profitable, although obviously it is much more difficult to mine bitcoin today than 5 years ago, and the more time passes it will be much more difficult, but the profits are greater, remember that a miner charges for commission and commissions of bitcoins are high, not to mention those of ethereum, if I could mine, I would do it for sure, it is less risk than trading.

Share this post


Link to post
Share on other sites

Mining depends on the country you reside in if the electricity costs are high then you need to do more in order to cover the costs, mining is still profitable and you just need a good place and good tools and also where you can find a very good coin that can be mined by your performance.

 

 

Share this post


Link to post
Share on other sites

Dear friends!According to my guess, mining is not profitable. Our time in mining is wasted.According to my guess there is no such website or any app that is true.I would like to tell our friends not to waste time on mining.

Share this post


Link to post
Share on other sites
49 minutes ago, Ahmad Shahzad said:

Dear friends!According to my guess, mining is not profitable. Our time in mining is wasted.According to my guess there is no such website or any app that is true.I would like to tell our friends not to waste time on mining.

Where did you hear that from, or just a wrong guess, this is not a guess forum, if you don't know something, then do not comment about it. Why are miners busy mining and more miners joining if mining is not profitable. 

Share this post


Link to post
Share on other sites

Definitely profitable because there are some mining sites where you can make money by investing and from there I think if you deposit a good amount then you can make good money from there only by mining.

Share this post


Link to post
Share on other sites
2 hours ago, GanBin said:

Where did you hear that from, or just a wrong guess, this is not a guess forum, if you don't know something, then do not comment about it. Why are miners busy mining and more miners joining if mining is not profitable. 

Good question. Like before the price of bitcoin was even less than $10000 and now at almost $40000. The price increment is enough to be sufficient for miners to gain from mining, also is ethereum mining and many other coins like that. 

 

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

i was thinking that the mining is still profit able but this is the wastage of the large amount of electricity this is the wastage of time and electricity.....

Share this post


Link to post
Share on other sites

I admin it mining still profitable because due to pandemic situation and every one know corona virus is fast spread in every where due to economical condition is effected that's why electric rates is very high and that's why still the profit form mining. 

Share this post


Link to post
Share on other sites
On 1/17/2021 at 10:28 AM, John Pernia said:

I think, that depends on the capital invested in equipment for that purpose. Since it can generate a huge expense in electricity and that is reflected in an increase in the amount of the electricity bill. 
It would be more profitable, to do tranding with crypto-currencies of course if you know how to do it.

Yes, mining depend on the capital, there are some that do not have the capital and join cloud mining but lose because cloud mining is risky and most people are losing. But having cheap electricity with cold weather and pool mining will make mining to profit someone. 

Share this post


Link to post
Share on other sites

Yes minning is still profitable for people. Especially for counteries that use solar energy. The dificulty of mining does stop growing. You need to do more for the sake of cost. You need a trusted mining site. Thanku

Share this post


Link to post
Share on other sites
On 1/21/2021 at 12:25 PM, Bitpapacoins said:

Good question. Like before the price of bitcoin was even less than $10000 and now at almost $40000. The price increment is enough to be sufficient for miners to gain from mining, also is ethereum mining and many other coins like that. 

 

You are right, exactly what I am talking about. The mining difficulty is truly increasing, the mining reward is truly decreasing but the price of bitcoin or other crypto that are increasing makes it still profitable to do as a business. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...