When is the right time to start mining? (Mining for profit)

[Brushless4500KV 4214]

There are always some miners in the network who are confirming the transactions and keep the network going. Miners will receive coins as rewards for their activities. So, this idea comes to mind that since they don't buy the coins at any price, whatever they earn is 100% profit but this is a wrong belief because they have invested heavily in mining tools and they have to recover this cost first to earn anything. Miners can both start mining when prices are low and when they are high. If you mine when the coins are cheap, you will earn both from mining and from the future increase in value of your coins. I think this is the best time to start mining any coin. But what about the other case? Is it profitable to start mining when the prices are high? In this case, you will earn coins with high values but when prices go down, you will lose big. What is your opinion about the best time for mining?

[Hatred 1388]

19 hours ago, Brushless4500KV said:

There are always some miners in the network who are confirming the transactions and keep the network going. Miners will receive coins as rewards for their activities. So, this idea comes to mind that since they don't buy the coins at any price, whatever they earn is 100% profit but this is a wrong belief because they have invested heavily in mining tools and they have to recover this cost first to earn anything. Miners can both start mining when prices are low and when they are high. If you mine when the coins are cheap, you will earn both from mining and from the future increase in value of your coins. I think this is the best time to start mining any coin. But what about the other case? Is it profitable to start mining when the prices are high? In this case, you will earn coins with high values but when prices go down, you will lose big. What is your opinion about the best time for mining?

Well, I think the best time for mining crypto is when it is in high price. Well, if you mine a coin while in its peak of high value, you can earn much higher profit from it. You can mine more coin if you wait that time before you mine. But for now, don't mine yet because you will just wasting your time because the value of every coin is now very low.

[Brushless4500KV 4214]

13 minutes ago, Hatred said:

Well, I think the best time for mining crypto is when it is in high price. Well, if you mine a coin while in its peak of high value, you can earn much higher profit from it. You can mine more coin if you wait that time before you mine. But for now, don't mine yet because you will just wasting your time because the value of every coin is now very low.

Your reasoning is true but why do you think mining when the prices are cheap is wrong? You don't have to sell your coins as soon as you receive them in your wallet. You can hold your coins until the market goes up again. If you do this, the profit you make will be the same as when you mine with high prices. I think we should not stop mining at any time because the cost of maintaining mining tools is high and miners should keep on mining to cover this cost.

[Nakamoto 279]

On 4/1/2020 at 12:32 AM, Brushless4500KV said:

If you mine when the coins are cheap, you will earn both from mining and from the future increase in value of your coins. I think this is the best time to start mining any coin. But what about the other case?

Anyone who mines first or at the beginning of the block is very lucky because the reward of coins in the block is still large. I don't think it's a problem to mine at any time. Mining and trading is the perfect combination.

[Brushless4500KV 4214]

On 4/6/2020 at 1:10 AM, Nakamoto said:

Anyone who mines first or at the beginning of the block is very lucky because the reward of coins in the block is still large. I don't think it's a problem to mine at any time. Mining and trading is the perfect combination.

The first block or genesis block is only mined by the first miner who is the developer of the coin. I'm not talking about that situation. I'm referring to the current conditions in the mining industry and how to get the most profit from mining right now. There is no doubt about the fact that when the coins are cheap, mining is more profitable but what I really want to know is that is mining harmful for your capital if you do it when the coins are expensive? It is said that mining is not like what it used to be. So, if mining causes losses for miners, why they are still doing it despite earning nothing from block rewards?

[bitcoin-shark 1928]

unfortunately the time of profitable mining for any altcoin is over, now it is better to do mining only if you have low-cost or free energy (solar panels)...

[Nezar 7169]

I think that mining when the price is low and high is a very good thing. When we drop we will be able to achieve profits when the rise comes back and when it is high we will achieve profits also that can cover the expenses of the equipment and electricity that we use for mining

[guatazoo 7150]

When you have done a good research about how can you stay in profit while you mining, you should start mining. And the research should be concerns mostly about electric cost.

[Nakamoto 279]

On 4/10/2020 at 10:04 PM, Brushless4500KV said:

The first block or genesis block is only mined by the first miner who is the developer of the coin. I'm not talking about that situation. I'm referring to the current conditions in the mining industry and how to get the most profit from mining right now. There is no doubt about the fact that when the coins are cheap, mining is more profitable but what I really want to know is that is mining harmful for your capital if you do it when the coins are expensive? It is said that mining is not like what it used to be. So, if mining causes losses for miners, why they are still doing it despite earning nothing from block rewards?

Sorry, I mean after the genesis block when the block reward was still high. But in my opinion, the price has nothing to do with the right time to mine. Because I can use coins from mining to trade every day. It's like a stream of capital.

[jacker 1095]

Theoretically, mining at the time of value appreciation would be more profitable. This is true for fast and easy mining coins that don't take much time. As for bitcoin mining is difficult, I'm not sure. If you want to exploit, do your own research and consider more.

[magd 5231]

This is always true, the low price is the best time to start, whether it is buying or investing or mining because we win in both cases and there is a way to increase profits also by trying to get high-performance equipment from wholesale centers where the price is lower than the market and thus saving the price of the equipment Also

[kadayakito 765]

I don't think there's a best time to mine because mining is getting more complex day by day. when you prepare carefully such as mining rigs or your own power system, along with other equipment or hardware tools, you plan to start mining. Whenever mining profits are guaranteed, you can start.

[scorpiali 5626]

I really leave the world for mining from a long time it's not rally profitable right now even if you invest in some cloud mining website they return to scam or stop paying because of maintenance or other thing 

[bliznec 22267]

I think that the most suitable time to go to mining is the time after the Bitcoin Halving will be held in May 2020. 

[bliznec 22267]

12 minutes ago, DoboniAyuuii said:

No, this time is good as well, only what to do is to increase the miners the person want to use, if 5 before, the person should use 10. 

Undoubtedly this adds the total amount of the fact that when you add the number of miners, the income from mining increases. The larger the total number of miners, the higher the earnings. 

[Nakamoto 279]

On 4/22/2020 at 7:05 PM, bliznec said:

I think that the most suitable time to go to mining is the time after the Bitcoin Halving will be held in May 2020. 

Why? please explain? So at this moment is not suitable for mining? I wonder how you can send your bitcoin?

[bliznec 22267]

11 hours ago, Nakamoto said:

Why? please explain? So at this moment is not suitable for mining? I wonder how you can send your bitcoin?

Because, after Halving Bitcoin, it will be washed away to see the prices of the rewards received by the miners. And then you can calculate the profit. 

[Ayush Singh 1175]

I think when the prices are high of the coins in which you are mining that is the best time to mine the coins because it will give more profit than mining it in a low value and also you need to have the trusted mining sites which can make you earn for a long time.

[DavCrypto 298]

In fact, I do not think that there is a difference, whether you mining when prices rise, you can sell directly, or if you mining when prices drop, you can wait for them to rise and then sell, the result is the same in my opinion.

[scorpiali 5626]

On 4/24/2020 at 6:16 PM, toantenlatoang said:

I think there really is no time to take the network from mining because to start mining tons of description, you need powerful hardware and nothing powerful, after starting mining, you can do it well.

 

I think that too it's no time for mine any time can be good just to have the capability to mine with some device or machine not in your phone or pc because you cant get nothing 

[Nakamoto 279]

On 4/24/2020 at 8:59 PM, bliznec said:

Because, after Halving Bitcoin, it will be washed away to see the prices of the rewards received by the miners. And then you can calculate the profit. 

So it's better not to mine this time? Is this a suggestion for everyone? Do you think that all people are mining for profit?

[bliznec 22267]

7 hours ago, Nakamoto said:

So it's better not to mine this time? Is this a suggestion for everyone? Do you think that all people are mining for profit?

Most likely, people get cryptocurrency in order to pay their own bills, nothing more. Yes, I believe that people will mine bitcoin further.

[iloveyobit 6599]

It is best to start mining when the price is low because the returns are naturally greater, but when the price goes up the profits from mining decrease.

[Brushless4500KV 4214]

5 minutes ago, Binjit said:

I want to share my opinion when right time to mining i think when hardware of mining and electricity 
become cheap price and weather is become cool like suitable for mining this time is right time 
for mining and small investment need

It is very difficult to have all the good things in one place simultaneously! The conditions you said are the most ideal for mining. You can't find a country with cold climate, cheap electricity price and affordable mining hardware. This is a dream for all miners! Most countries have warm summers and expensive electricity bills. If a miner starts mining with expensive tools when the coins are high, he will almost earn the same as a miner who mines with cheap tools when the coins are low. The problem is that calculating mining profit is not as easy as trading profit. You have to examine all the costs to know how much net profit you have earned.

[Nakamoto 279]

On 4/28/2020 at 12:30 PM, bliznec said:

Most likely, people get cryptocurrency in order to pay their own bills, nothing more. Yes, I believe that people will mine bitcoin further.

So we all should stop mining bitcoin now? I don' get it.