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

[David84 1191]

I think that mining is not the best way to profit from crypoto market, maybe when Bitcoin was at its beginning and few people knew about it , it was profitable, but nowadays , people are paying huge amount of money on mining devices and they end up losing all or getting very small profit. 

[Bitpapacoins 61]

Do we know that mining is available all the time, miners can only pause to cool their mining equipments but they can mine at any time. Starting to mine can be at anytime too, but what is most important is to mine good and profitable coins, Bitcoin is a good example of good coins to mine. 

[Sandra98 199]

In my opinion, the right time to mine was three years ago from now, but now no one can earn well from mining unless he has a strong mining equipment, and in fact the people who earn from mining now are those people who own mining farms.

[Aledar 48]

Well if you have right setup to mine and you have calculated all your expenses then you can start mining any time, right now is very good time to mine because btc is still at great value and is popular right now, so yeah you can start mining any time just calculate all your expenses so your mining farm gives you only profit.

[Mahmod aljarah 1383]

In my opinion, the best time to mine is when currency rates are low

I don’t have the nerve to mine when currency rates are high, I fear sudden drops. 

[Bitpapacoins 61]

On 1/17/2021 at 9:34 PM, Mahmod aljarah said:

In my opinion, the best time to mine is when currency rates are low

I don’t have the nerve to mine when currency rates are high, I fear sudden drops. 

@Mahmod aljarah

I do not think so, but there is nothing bad to mine when the price is low,m because the price will still increase. But if you mine when the price has increase will be more profitable. But normally, so far a coin is a good coin, you an mine it at anytime but after knowing mining is profitable on your location. 

[Eezabell 339]

Yes there is always a right time to do some work that can give you the profit of the life time and the opportunities come in our life late. But they are very useful and can turn our life at any instant. So, you are waiting for what be ready for every war and do mining.

[KarlJohn1 56]

8 hours ago, NewUser01 said:

There is no special time to start mining as far as you are willing to invest you can start the mining at anytime you want and there is no difference of profits on the basis of time

You are right, no special time for mining so far the block reward are gotten many time in a day, and also because mining is very important for transaction to be successful. 

[maarcoferrer 1096]

The truth is that the best time to mine has already passed a long time ago, when for example with a PC you could do bitcoin. Now it is not worth spending money on mining machines because they do not give the same results. Anyway, my best advice to all the people here at Cryptotalk is to study at some academy and with some reliable person who will teach you everything about the Cryptcoin market, to make you trade and get the most out of it.

[duygumtr 24]

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?

[MrSpasybo 1049]

As far as I know, miners mine all year round, it's just that they have a variety of tactics:
+ When token price is low & hashrate is also low: they only use the best capacity machines to mine, the rest is powered off & rested;
+ When the price is high, and even the weak machines can make profit, miners will use all machines, including old and weak machines to mine to make big profits in a short time.

 

Miners always like the times when the token price is high so they can quickly get profits from mining.

[eknarin 1]

so sad that the best time to mining is almost 10 years ago. 😞

[RoyalHouse01 9]

all the time is the best time to start the mining you should not wait for the right time and also you should mine the new coins not the old one which are much expensive right now.

[Abrar1122 10]

I think when you have the minor you should start mining and keep the mining on until you get the profits and you should keep the mining on for as long as you can

[Bwz123Bwz 10]

I think the best time to mining cryptocurrencies is when their price rises, because when the price rises we can achieve profits in addition to paying for the costs of the devices we use and the costs of electricity sources.

[mhd tello 639]

The only thing that makes mining good is that you can always make profits. On the dip, we will gain a little, but we earn and when it goes up, we can double the profit.

[aiham 488]

I think mining is profitable in both cases . When the price is high, you will make a good profit directly by selling the currencies you got . If the price is low, you can keep the currencies and store them until their price rises, then sell them and make a good profit as well . The important thing is that mining be within appropriate conditions in order to make enough profit to pay electricity bills and pay for mining equipment ..

[Reen 1120]

Certainly if we do mining at a time of declining prices, we will achieve more profits when the price of currencies increases because our profits will double. Actually,Miners usually hold when prices are low and sell when they grow higher to maximize profits.I think when you see the cryptocurrencies prices has massively price fall, this is the right time that you can start mining.