Bitcoin Forum

Hello guys please can we share our view whether it is profitable  to go for crypto-currency mining now or just hold till the price begins to gain it's upward trend!!! ;)

altcoin mining is not so good right now because the price are continuously falling down as the time passes and that makes making profit from mining harder and harder every day since you are still making a small amount of altcoin because of their difficulties but their prices go down.
so if you want to start up mining, it may be best to wait a while before jumping in.

Perhaps, in with the global fall, it is possible to buy inexpensive equipment for mining. But as stated above, it is better to wait for the price increase. And the price will rise is a matter of time.

Not really, i have a friend who invested almost 2000$ in a mining ring so he can mine Ethereum, and at the current price he is earning only 2$ worth of Ethereum per day.
Maybe you should wait for the prices of the coins to increase before you start investing in mining.

He will be quite upset when Eth go POS this year and he's not even covered his investment, perhaps another coin like ETC will cover him long term.
To the OP, the amount of miners is increasing and the prices have dropped, I wouldn't say now is a good time.

I support previous speakers. You should be patient and wait for the market to become more stable. I believe that these happy times will be soon. I wish you good luck!

At the moment, mining will not be profitable for you when the market goes down dramatically. Even trading will not be profitable for traders. We should only buy and hold the money and wait for the market to go up.
we can see now is the time for us to rest and focus on analyzing the potential future altcoins. ;)

There are many factors that affect mining revenues. The most important of these are the dollar rate and electricity charges. Speaking for Turkey in May 2017 while
$ 1 = 3.50TL was $ 1 = 4,05TL in April 2018. But electricity charges have also increased between about 10-20%. But the value increase in Crypto moneys is much more so the return is more than the last year. Of course, when you calculate the price of the system for mining in dollars, there is a decrease in our income.

Mining was good earlier, now it is lower profitable than few years ago. In my opinion better option for you will be focus on investing and trading, because mining is good only for permanent users

Not at this time OP. As others have indicated the competition is very high and the prices of the mineable coins are very low. Chances are, you'll just be mining for your electricity consumption (if its even enough). Wait for the prices to be good again.

Of course there are many factors to this question. Do you already have mining equipment (e.g. a high-end GPU or a multi-GPU rig)? Have you ever mined before? It seems that Ethereum mining, for example, becomes more and more difficult, and GPU prices are still at ridiculous levels, so I personally don't think now is a good time to buy a GPU for mining. If you already have one, with the current low prices, mining difficulties can drop quite far, so you can pick up more coins than you usually could by mining, and then hold them for a price-rise later on. Of course your electricity cost comes into this too, but you need to assess your whole situation to be able to answer this question.

To Present situations Mining is nt that profitable  profit percentages vary due to price fluctuations its better to Hodl the coins for more profits rather than mining

If we do try to look on the current situation of the entire market bitcoin and all altcoins in the market is low which means or we can presume that profit is less. Difficulty+ Electricity cost = Less Profits and also this would depend on how many miners you can able to operate.For me i would go on GPU or Altcoin mining, it might be low but would really give you the chance to mine various coins depending into their profitability unlike on bitcoin which difficulty would be always a problem and you cant get out into another options.

Cryptocurrency mining is profitable but you must know the power consumption because many countries are not supporting to crypto currency mining because it take too much electricity so better you should research our own. Because current market is not supporting to mining if you really interesting to invest in mining platform it is your risk.

Well it depends on you. If you were ask me I would HODL for a long time especially If am mining ETH and I could go for trades to but for cash out to fiat no. Maybe I will on a year 2020 or above. I am really looking for long term for cryptocurrency. Just my two cents.

I was pretty tempted too, seeing as how cheap some hashrates are getting now. But funny enough, the miners aren't leaving or slowing down, and with current prices, probably best bet is to mine super cheap coins no one wants now, but that's all risk and hassle in my opinion.

Better to just get the cheap bags of alts now. They may still get cheaper sure, but no use to wait longer and get caught by a sudden spike. You never know, stranger things have happened in crypto.

It's not profitable and i guess you can try to do some effort by visit the altcoin mining section of this forum or try to visit cryptocompare forum to get the more reliable data to help yourself to get the best answer.
The difficulty was increasing a lot. If you are using some mining rigs and that will never be profitable. At least you can try to calculate it through use mining calculator.

I think it's very possible for mining to do. Because with mining will validate every transaction, build and store the new block into the blockchain.I really support if you want to do mining.

If you have a fiat cash with you and want to start mining you may do that anytime but still profit will be low when you see the profit in the conversion in fiat value. If possible you can invest your money trading and potential coins which can grow more in the market.
Better wait for sometime and buy the GPU cards you want and mine the coins. if you need to exchange in the second sense.

Not really but if you believe in the industry, it might be good to stock up your rigs for now as price of rig is always cheap during bearish as the profits isn't that impressing
If you were to mine now, chances is profit are still there, just that it just dropped drastically, so perhaps do some checking before you mine

It is not profitable to mine crypto-currency at the moment. But as it is going to be easier to mine as the coin value is decreasing, you may save your coins and sell it at a better time. Maybe if Bitcoin is only worth $1000, we are going to be able to mine it with GPU.
I think the first miners of Bitcoin didn't get profits immediately. But after some years they did receive a very big profits.

If you got lucky with your location to have the cheapest electricity rates then it is advisable to go for mining given the right variety of mining equipment to use whether it is a GPU or an Asic miner with the right choice of the coins to mine then do the combination of the two choices that you've mentioned instead of selling those newly mined cryptos to cut the profit do the art of holding then the market was mooning again that would be a vast return of investments that you would ever experience.

Mining is also depends on the market situation, if there is no demand in the market then mining will be low and the blocks cannot have that much profit. As suggested by most of the members pleeas wait until the market stabilizes and then start your mining business. Hope there is lot of mining owners income has been decreased due to the dull market situation.

The mining difficulty of most of the mineable coins are increasing everyday and it seems there's no way for it to go down because of the number of the miners.

i think with the difficulty continuously increasing, it is not profitable to mine considering the expensive hardware and cost of cooling them and electricity, but if you can hold the mining income in eth or btc for may be couple of years then it can pay you big time, for everyday sellers i do not see any attraction in mining at the moment.

Electricity is the biggest problem in mining field. Even if we want to on mining 5 cards with the GPU set up. Atleast we need to spare the 4k USD and even more mate. For that big amount returns will not be bigger.
This is why miners does not expect the bitcoin and alts value dumped when there is peak value in the market.
Please invest on the good mining cards which can give more hashes in the market.

Seriously, mining today it seems to be difficult to gain profits. Not only we have a red market but also just because of growing competition in such fields.  We all know how many people getting into that form of investment. Yes we could say mining before is really having a huge profit than of today's situation.

It is profitable, but it really depends on you. We had hard days back in a day and we continue to mine.
Today everyone wants to see 5$ or more per card. If you want that all the time than mining is not for you.
If you choose well and mine a good coin it could get you a huge profit, but it depends on you.

If you do not need very urgent money, keep coins in your hands when crypto money is low. You can increase your income by cashing out when the markets recover and start to rise again.

It is not profitable mining as before. At this time it is better to invest in ICOs. According to analysis tokens of exchanges give good gains. For example there is lccx.io (http://lccx.io) - looks like promising exchange based in London.  Well developed white paper, experienced team, located in politically stable jurisdiction.