Is mining bitcoins not a waste of energy?

[Zisan95 71]

Yes. Bitcoin mining is a waste of energy.For mining cryptocurrency, you need to invest a lot of money. You have to build a super computer with higher configuration. You also need a faster internet connection and graphics card. Mining is not profitable. Trading is profitable. Because, for mining cryptocurrency, you need to invest a lot of money. You have to build a super computer with higher configuration.

[newsdrugin 5]

On 28.02.2020 at 00:45, neurova said:

Thanks man. Fair go to my almost area in my profile and tap on the connect at that point. All the finest. Trust you get a parcel of sats. out of it 😄

If you get a few referrals they moreover make referrals for you. Like for illustration on the off chance that you employ my interface to download CryptoTab I get you furthermore all the referrals you get to my mining arrange and you get the referrals that they choose up over time. So it can gotten to be exceptionally productive within the conclusion 🙂

[newsdrugin 5]

You can discover them in my around area in my profile 🙂 I have Nectar Mineworker running on my PC and CryptoTab. On my tablet I have CryptoTab and Bitcoin Digger from the Microsoft Store.

[Nezar 7169]

No, my friend, mining is not a waste of energy because it provides great profits, but we must devise a plan to obtain this amount, which is that we buy devices that generate energy like solar energy, as it is a renewable energy source.

[Zaino34 0]

In fact, Bitcoin can not be considered a waste of time because I can get some profit through the devices that I use and do not consider it a waste of time. Also, fees can be reduced through the use of silk energy.

[magd 5231]

Yes, my friend, I agree with you that the beginning was good and profitable in terms of energy saving was not a waste, but with the passage of time it becomes more waste and energy losses will be greater than the achieved profits

[BitcryptoHan 2557]

1 hour ago, GanDuba said:

What people are saying about making is right. It is very difficult to gain from mining now. Only old miners gain because they have money to buy new equipments. 

Mining is still profitable. It can talk long time before making money. It can even be three or more years before making back your capital. You are right but still little profit are there in mining.

[Brushless4500KV 4214]

Choosing the right mining tools can save you lots of time and energy. Most people think mining is as easy as buying some second hand graphic cards and connect them in series to make a GPU rig! This is not what a professional mining should be. If you search the market for mining tools, you will find some devices that are specifically designed and calibrated just for mining. By using these devices, you will earn more without wasting energy. Each coin needs a specific mining device. Don't mine all kind of coins with the same device.

[Calvinpriva 17296]

Bitcoin mining is not a waste of time if you will find a good site and legit for mining. There are many fake mining sites and you can use them for more than a month and after there you will not be paid because they are fake, that is a waste of time.

[Brand1 1336]

The devices, processors, and coolants that are used for mining currencies need a very large energy source so we can say that mining is a waste of energy and we can solve this by generating electricity using natural energy and it is very good for mining devices that do not need much energy to be made

[Jaysen0104 536]

Yes it is if you are earning good profit from it and you have quality tools and equipment to sustain mining everyday. But for for the other it seems a bad choice and a waste of energy maybe they have little mining rig so that they earn very low that's it is a waste of energy,time,effort and money.

[iloveyobit 6599]

You should know that the difficulty of bitcoin mining increases with the passage of time and is offset by a decrease in profit resulting from mining, it will come a day when bitcoin mining becomes a waste of time.

[Honny143 13612]

On 10/18/2019 at 9:19 PM, Devh said:

In some time the bitcoin mining was profitable but later on the bitcoin mining is so hard so it considered very tough and we need alot of energy for its mining. Mining need electricity, electricity comes from grids, grids connects from dams and other resources, resources run from coal and fuel may be in some countries. So think own way as we need to put dioamond and gold for print some paper currency the same way is with btc. So its only profitable in long term holding.

You mention all methods how electricity produces and why cost is high, but you forget solar energy, its  alternative for electricity and cost also  low, we use solar energy in mining the cost of mining decrease and earn some profit, because now so many miners use this solar energy for mining.

[BTC Future 3946]

On 10/8/2019 at 7:34 PM, starwill said:

Spending energy on securing and operating a payment system is no waste of time

The problem is that the network in order to keep growing it will need more hashrate and more consumption of energy, while there are already better energy friendly ways to validate transactions in decentralized networks. I  don't see PoW ending soon, but I don't see it surviving for long either.

[CryptoLover21 0]

I think bitcoins mining is waste of energy because you have to operated huge computer system which will consume a lot of electricity. Now we can see competition between miners, there are many miners the newbies can't mine more.

[CryptoMaxim 3829]

The answer to this question is not clear. This depends on many factors. For example, it depends on the hardware on which you are mining. Its quantity and power, respectively. Also important is the fact at what price you will sell the mining quantity.

[Mcd0d0 5882]

On 10/9/2019 at 12:44 AM, NuttyProf said:

you can buy cheap GPU miners that are cost effective

Well, you cannot buy some cheap GPU mate, you need to buy some powerful GPU because it helps you to mine many coins by increasing it's thread in a short period of time.

[Ridam 7455]

Well if you are mining a coin with high difficulty like Bitcoicoin and using low powered gpus is waste of enegy for sure. But if you have good investment and have great mining rigs then and of you are getting actual profit then it's not waste of energy. And also keep in mind that you can buy turbines to form small hydroelectricity project to run these rigs and maximize your profit from mining.

[MuhammadSh 3067]

A waste of energy!? i don't think so.. the most important thing is earning money even if it requires spending energy! when the profits become more than the price of the electricity which you spent so you are the winner here! mining these days isn't profitable as we think, it needs specific devices and good amounts of electricity to earn good profits and that's not easy as it sounds.. 

[Yomose 3704]

5 hours ago, MuhammadSh said:

A waste of energy!? i don't think so.. the most important thing is earning money even if it requires spending energy! when the profits become more than the price of the electricity which you spent so you are the winner here! mining these days isn't profitable as we think, it needs specific devices and good amounts of electricity to earn good profits and that's not easy as it sounds.. 

You only referring to electricity, what about other things to put into consideration, such as the expensive miners and also the expensive cooling machines. 

[Tunuu 2235]

It depends with how much you can mining everyday. If you are earning bitcoins that can cover electricity bills and remain with profit it is not a waste of time. But if you cant pay for electricity with bitcoins you mined it is a waste of time.

[klalvit 18]

I believe that mining is not a simple waste of energy and I will now tell you why, first of all, mining performs a very important role, namely, it processes different transactions, and for this they receive some remuneration, which means it is profitable and not useless

[basem 6]

Bitcoin mining needs great capabilities, so I think it is not easy to mine Bitcoin due to the high cost of the energy used in mining.

[Yogidon712 132]

Based on national averages in the U.S., the bitcoin network consumes as much power as approximately 6 million homes. ... Bitcoin will spur innovation in the development of renewable energy technology & resources. Bitcoin consumes energy that is otherwise wasted, if not, flared into the atmosphere

[ayoayo 935]

Just choose most profitable coins to mine and change it to btc. Calculate it yourself and make a dcision. Well, at least you can use yor mining farm additionaly as a heating module for room.