Bitcoin Forum

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Surely mining is costly but worth a shot, if you ever plan on mining a bitcoin then better do a bsckground check and feasibility study of your proposed project
For sure that if the electricity fees and rigs are cheaper than other nearby countries then it is really worth a shot and you might get back your capital/investment as soon as possible. Mining is not for everybody but for those who want to do it then better start doing your own research now

I don't think it's any point of starting BTC mining nowadays unless you doesn't have a billions of $$ and a cryptofarm

no it won't, as long as the equipment is available to everyone. unless you find a way to create a more efficient ASIC and only use it yourself and not give it to anyone else. which is not going to happen, the companies will mass produce it and when they do the hashrate will increase, difficulty will go up with it and the profit will be the same as always.

If you will start mining at current difficulty and price of bitcoin you will only loss unless you have free or very cheap electricity. Mining with cloud contracts these days is just like doing suicide your contract will end after being unprofitable like most of the viabtc contracts will be.

So in both way yes mining is costly and not profitable right now but if you will keep all bitcoin you will mine now for next few months you might make huge profit so its like gambling.

If anything, it actually doesn't help the miners at all. Lower bitcoin prices = lower yield for miners. At the end of the day, the ones with better machines and hash rate would win, keeping up with the difficulty in the network. There isn't a need for any sort of development in terms of the price; the market takes care of that.  As for the mining side of things, PoW ensures the network's credibility and integrity, so yeah, survival of the fittest it is for the miners. I'm pretty sure they still profit despite the costs since they already figured the math out.

What if you live in a country where you don't have to pay for the electricity?
what if you install solar panels as a one time investment and then use that electricity generated for the mining.
these are some normal things that I could think of which could lower the mining rate.
Besides this there are some people who illegally go to cyber cafes and do Minning there, it's very difficult for the government to track such people. What I want to say is that my name is not costly the way that we are doing it is.
Sooner or later we will be able to cut this cost to a significant amount .

It can definitely be costly depending on what your country's electricity rates are, but if you know what you're doing(doing all the research and the calculations and all that), you can definitely make good profit off mining(though mining other coins are more profitable).

For sure if mining was easy and cheap, No sane person would've bought a single satoshi and they could just mine it without ever buying from others. Cost of mining is one of the factors of the price to be high. There are so many sh*tcoins using the same algo as bitcoin but their mining difficulty is very low, You could try mining them to see what happens.

This is about the old propaganda about electricity consumption. Everything that you can plug on a wall socket specifically ASIC miners are not consuming extra amounts of electricity. They are just computers with cooling fans. On the contrary gaming consoles are a problem. You spend too much from the gaming media to the console to the LCD screens to the electricity consumption but you can't earn while doing it. Mining Bitcoins is different. It will consume electricity but there will be rewards. Which would you rather choose. Gaming or mining?

I think the cost of bitcoin mining is the key, it supports the price of bitcoin.
If the cost of mining is lower than the price of bitcoin, people will buy BTC.

Bitcoin mining consumed a lot of electricity and now bitcoin price down so automatically profit down so bitcoin mining is costly. Also, bitcoin mining competition is more so difficulty increases.

Mining of Bitcoin is never a good start for beginners, it consume more electricity, big equipments and lots more... Making Bitcoin mining profitable is never a good way because in no time, everything will be mine.

Mining is evaluated differently in different countries. It depends on the price of electricity from the cost and quality of equipment. But I think that the price of the cryptocurrency is not affected by This only affects the number of bitcoins mined. The price of cryptocurrencies depends on other factors. One of which is supply and demand.

As of this moment and the following years hereafter, we just have to deal with the high cost of Bitcoin mining. Bitcoin has a proof-of-work concept or algorithm and as time goes by, the difficulty of the work increases. Along with it is the consumption of electricity and its other resources. Thus, making the mining even more costly.


Or, if you found a way to create more efficient ASIC and sell them to companies who manufactures ASICs then you'll have instant huge profit without even mining.

That's why a feasibility study is a must before going into bitcoin mining. There are lots of things to consider like the hardware requirement and electricity cost. Do the math properly.

Over the years the Bitcoin mining has been considered as an attractive and beneficial way of earning but nowadays I don't think it is like the same as what it used to be. There are a huge number of miners at the field and it has become highly competitive than ever before. A proper cost analysis should be done to figure out the ROI considering all your expenses including the initial cost which will incur when acquiring a high-performance computer, cost of maintenance, electricity usage, etc. and the possible gains you will get.

The cost of bitcoin mining doesn't support the price of bitcoin in any way, though, both are a different thing and it is not related to. But no, I wouldn't agree if people will buy btc if the cost of btc mining is lower than the price because people can easily buy btc without mining, that's why mining machine is pretty cheap nowadays.

There is no such thing as the cost of Bitcoin.
There is a fixed number of coins that can be mined each day (with slight variations), no matter how efficient your mining gets the reward is the same, if mining gets more efficient and you earn more in $ terms per kwh, then more miners will add more equipment and in the end, the power usage will be the same

Mining is limited only by the price of a kWh, in the end, no matter what equipment will be used, the daily reward can't be smaller than the price of energy consumed in mining those coins.

With a price of 2 cents per kwh, and BTC at 100 000$ the miners could end up burning 1800Twh a year.

COST OF MINING BITCOIN or any other coins/tokens

1 ELECTRICITY - there are countries that has cheap electricity but mostly it is expensive.
2. maintenance - mining is very maintaining deed in, you also need to keep the miner in a cool place.
3. noise - you need to be in a very private place to keep the noise out of the public.
4. PRICE - bitcoin price is not good to mine now.

This is why I have chosen bounty campains and ICO investment over bitcoin mining. The difficulty level is now very high, and it greatly consumes electricity.

If you live in a country were electricity is very expensive then of course it is not cost efficient, but if the electricity cost is extremely low then it is a good opportunity, and if you feel you are not getting the profit you want, you can always mine other coins and then re-invest them to purchase BTC.

Incredibly and unless you are doing it on a large scale, not even profitable.

the small miner is almost gone... only altcoins are semi profitable to a small miner

Mining today is not recommended to do bt this time where bitcoin is falling because even though yoy mined about 1 bitcoin it is not enough to pay all the bills and equipment you bought. Bitcoin mining is not a good move now, it is better to invest in an ICO that will surely give you a good future.

Yes, it is surely costly in most of the areas in the world as the cost of electricity is very high in many places,  But you can earn huge profits from it if you build a mining plant in the places where electricity is cheap and doing bitcoin mining on large scale can give anyone a huge profit from it.

If you are a miner you should know something like this before. Mining bitcoin should have a lot of capital besides the cost of electricity should be considered, so you will know the profit you get when you start. And the risk that is always an important concern is from the bitcoin price movement, a miner will complain when the bitcoin price decreases as it is today.

Yes, it's true. I studied and learned more about Mining. it will cost you a lot of money to build a good mining rig. not only that, you need to have a place. a Big empty place for you Mining Rig because it needs to have a proper ventilation. you also have to consider your electric consumption and your Internet Connection.

It's about security. There's a real cost involved so that if someone wants to attack the network, they have to have massive resources. This is one of the fundamental pillars of what makes Bitcoin work. Along with the cryptography it forms the basis of Bitcoin's security model.

Somebody had to mine the coins that you're being paid by your campaign managers and such, so for some people it had to be worth it. Mining ended up being a hobby for bored nerds long ago. I guess somewhere in 2014 when you had to hire an electrician to upgrade your connection, because your typical household could no longer handle the load.

As long as they don't die and allow you to convert at decent rates.

I do not think it's expensive !!!, on the contrary it must be active, dedicate time to mine

That's why I'm not even mining until now since it cost too much and also we need to take care properly of the machine in each an hour to make it run with full power (no damage). I'd have to pay the electricity cost with my profit from the mining machine for about 30-40% of my total profit too (I know this from genesismining company).

Bitcoin mining difficulty is constatly increasing despite low price. It is because people understand that the current price is only temporary. It is good for Bitcoin to stop for a moment, now it's a good time to buy and wait for what will happen in the next few months. Bitmain might release a new ASIC, it would cause a lot of mess and mining would be even more costly.

The less it is, the more computing power is needed to extract. This can not be improved. There is a reason why farms are being moved to countries that are active on green energy.

The problem with doing that is that it will make bitcoin mining a very accessible thing, i mean it costs a lot because of the high mining bitcoin difficulty and if we want to lower the cost of mining we need to lower the difficulty and that will cause bitcoin's supply to ware of faster and that is sure to cause some problems, you see that having a high coast has a purpose. but the only bad thging is that it causes places where power costs less to have more mining machines which can lead to centralization.

Yes it is costly and main expense of mining is it's equipment. Other thing that largely influence the budget is the electricity which is being used to run this machine as these machines consume a lot of electricity and need good maintenance which increases the overall cost of mining.

I think what makes it very costly apart from the electricity it consumes is the amount that you can mine or harvest these days. Before, when the market cap of many coins are not that filled because only a few coins have been mined yet, mining is profitable because you can still get a lot of coins using one or two rigs. However now, it's so difficult because all of the market caps have been mostly reached or near its limit, and so, it has become more and more difficult to mine, and even though you set up multiple rights, the amount of coins you can mine is now way lesser than the running cost you paid to keep the rigs running.

Bitcoin mining price will decrease, what will be with price? I think that PoW and current conditions are good for everyone. I live in county with cheap electricity, so I can mine it with profit.

Are you comparing fishing with your bare hands in a river with fishing using a big boat in the ocean?
Mining Bitcoin requires a decent and expensive equipments, if you seek profitability you need to have a mining farm with free or very low electricity price. Mining using cpu or gpu is still profitable for some altcoins only  :-\

To run a well and effective bitcoin mining farm is very costly because the kind of equipment you use determine the amount of bitcoin that you can harsh within a given period and as you have said we need more advance equipment in other to cut the cost of mining bitcoin. Because at the present level bitcoin mining requires a lot of electricity supply and other mining material.

There are many ways that operators can save money on electricity. In my place, there is a company that installs solar cells to help people exploit bitcoin at the cheapest cost

Well there are risks also in bounty campaigns and ICO investments. It is just the intensity of the risk, but i think bitcoin mining is still quite profitable in some countries,probably because of the low electricity cost.
What you said about ICO investment is quite risky also. There is always this question. "what if he project will fail, my investment will surely be gone too"

This is the exact reason why we have altcoins. What bitcoin can not do, these altcoins are expected to do.

Some altcoins are very cheap to mine and accumulate swiftly. The trick is, spot a good altcoin with awesome potentials, should be a mineable coin. Check on how the mining is done and you follow accordingly. You might be in for a lucrative source of income with time.

Some altcoin mining requires just your PC And this is very good. Think Mining Bitcoin is too expensive? look for an alternative, Mine Altcoins.

   I think mining is quite profitable but depends on your location. If your ares is cold then it is better because mining consumes a lot of electricity and if you mine in a place where the heat temperature is too high i think it you will not earn because mining tools are expensive and then the electricity consumption. I think much better to do trading if you have enough knowledge and experience about it i am sure you will earn and can manage to avoid loses.

Bitcoins mining is not all that profitable as the hype in the media. Electricity cost, hardware cost and maintenance cost are the main reason why mining seems costly. Those same money in setting up a mining can be use to trade or buy and hold which in turn can also be profitable.

If you want to mine Bitcoin, you need to understand the costs and benefits of it.
There is only one way you can mine it and still be in a great amount of profit, and that is to have a small farm ( meaning you have 10 rigs that will do the job for you )
But also you need to have a steady supply of electricity which is cheap or at the very least moderate when it comes to the cost.

one of the main obstacles faced by miners is the using of large electricity, so the cost will be more expensive.

I think water is an abundant source of energy, so hydro power or hydro power is one of the most effective and cheapest sources of energy.

hydro project miner offers electricity needs with water sources to save electricity consumption. and hydro miner is already working in europe.

i think ,you can try it.

I agree that the cost of Bitcoin won`t matter; however, if only to minimize the cost of mining at a fixed number of coins to be mined (considering the price of bitcoin would increase) could create a better profit on the investments of bitcoin miners. Right!

Well, that is why altcoin having potential and futuristic projects swiftly dominate over bitcoin but to what extent. If we would try to think, bitcoin could again yield high value over other altcoins because bitcoin`s supply is fixed; other coins could be millions and billions of supply (at the discretion of an ICO team). IF we try to look, the factor that affects bitcoin`s price would only be two - demand and supply. Given that its supply is fixed, then what we only need is to market bitcoin for increasing demand. Compare to altcoins, different considerations and many factors are to be considered. So, logically if we can mine with lower cost with the higher price on bitcoin, then immediately it could raise sense on investments -Profit.

That cannot be helped, everyone wants to mine bitcoin, network difficulty will increase far. And the mining equipments are expensive too because many peoples want to buy. The more demands, the more expensive the mining tools.

Yes, the bitcoin mining cost is very high now, but the increase in computing power is helpful to the network.

Wow, genius!!!
So it is hard to make a profit by mining bitcoin.
Solution:
Let's find an altcoin so we can print more money.

What does this solve, other than creating tons on shitcoins in an already oversaturated market?


You who?
Alright, we should all build some hydroelectric power station in our gardens..
As I said, cheap energy will only lead to more energy being consumed.

And hydro might be cheap, but building a dam costs billions. And we're running out of places to build them.

a lot!!

Mining isn't for someone that only sees it as something profitable out of nothing. Cost of mining is high? their profit is high too, huge farms know this already and they'll stop if they are gaining nothing.

Also they are playing an important role if they're gonna shift mining altcoins.

You find bitcoin mining costly? very simple, don't do it.

I think right now bitcoin mining is not profitable just like last year, VGA prices is already down since many miner sold his.
And also if you joined in a cloud mining site, right now the profit is minus

Of course, when you exploit bitcoin, most of you turn on the computer almost 24/24 for a long time to get the btc, I think it will not affect the market.

Yes btc mining can be costly because huge amount of electricity is required for such works. But it will be worth the cost if you can manage all the required equipments and start mining somehow.

Bitcoin mining is getting costly, but still profitable. One just need to do the math meticulously before venturing into this unique business venture.

Surely bitcoin extraction is very expensive. You have to invest in machinery costs and monthly electricity bills. I have a friend he has a lot of machines to exploit bitcoin. About 3-4 years ago he gained a lot of profit from mining. But lately his profit has been small because bitcoin is now very difficult to exploit and the cost of electricity is rising

I think the profit will be the same in both cases. If the electricity price drops, you will save hundreds of dollars a month and the cost of Bitcoin will also affect quite a lot. But a trader in China thinks Bitcoin's price of $ 3k2 will not be profitable for them. So now Bitcoin is still $ 6k6 and it still makes a lot of money.

Indeed it consume large amount of electricity. This is happened because nowadays miners keep adding the difficulties for mining.
If you want to gain more from mining, you must buy more equipments, and resulting the increased of electricity cost.

Real life is more complicated than that.

It is not uncommon in many fields of business to produce at a loss for some time, due to various reasons. The most obvious example is high-cost crude oil producers like UK, Brazil or Venezuela which may be producing oil below production costs for many months or even years because shutting down oil wells and the whole industry at large may cost more while losing market share may be even costlier over the long term. The said is also true with respect to markets as volatile as crypto. So, personally, I wouldn't be surprised to find out that many miners are in fact mining at costs above their break-even point with the hope of future price rise.

You can't compare real-life mining minerals or oil with bitcoin.

For example, you can drill for oil and store it to sell at a higher price, as you can't ramp up production in a matter of days. With bitcoin is simple, why pay 7000$ to mine a 6000$ coin when you can just buy it and wait for the price?

Unlike oil bitcoin mining doesn't need a 24/7 staff, people specialized that you can't simply fire when prices are low and most important, shutting down a mining farm is done with a push of a button at no costs, when we talk about gas wells it's not the same. Also, the ASIC farm can be turned back on with the same push of the button, again not the same for oil and gas wells.

Now, imagine a country stooping its oil production and buying the amount from the markets.
It will lead to less production and more demand, prices going up, oil being again profitable.
Does this happen in crypto? No.

Nope, mining at a loss makes absolutely no sense whatsoever.

Its true that setting up a bitcoin mining rig takes up a lot of resources and even when its running. I have friends that are planning to rely on mining but it came out not really reliable since prices can go down but the cost of electricity is the same. Right now with the current dip in the markets, the rig dormant, because they find it hard to cope up with the bills.

Of course it is costly. You will have to manage so many costly hardware to manage the whole system. Even it requires high power supply to run the machine properly. Additionally, the longevity of the machines are comparatively low.

Well, yes the BTC minning is a bit costly thing. But I believe that this cost will be minimized somehow in the coming future. But I will tell that for a beginner minning BTC is not good as it is costly.

Yes this is why the mining of ether has clogged down maybe due to the operation of some mining activities that has to stopped for now because there is major downfall on crypto market price and they could relatively small amount of crypto to mine. So some of the mining would stop but will take another operation when market goes high. Bitcoin mining is costly due to the equipment that you should have and the electricity to use in order to mine crypto.

Bitcoin mining is not costly actually because it is unlimited. Cost of mining is high? Of course cost of profit is high too.

I agree with you Bitcoin mining is very highly cost process also i think.I involved with mining only for 2 months than i observe i waste huge time but profit is not reliable because electricity bills are more than what has not been achieved.

Yes it is and this is a reason that many are moving into altcoins. I think something should be done to lower the cost. It is almost unbearable.

To mine bitcoin, you have to invest a lot to buy bitcoin mining hardware and there is no guarantee that it would be profitable, as mining difficulty has increased. As bitcoin consumes a lot of electricity, so cheap electricity is also very important.

now, to become a miner is quite difficult, because it requires a considerable cost. especially now that the situation is increasingly tightened, as more and more users are sometimes not responsible.

Of course, you are right but you can earn a huge amount by mining. Bitcoin mining is a process by which you can generate bitcoin in your wallet. There are two way to generate bitcoin. The number one is hardware and the number two is software. It's better if you have a bitcoin mining machine that's mean hardware. By this mining method you have to spend  a lot of electricity for the bitcoin that you generate. So it is said that it is an expensive matter. But that mining cost could yield a higher profit. Though bitcoin mining is costly but you can earn a huge amount profit by this mining process.

I will not disagree with this statement mining is bit costly but if your living in somewhere there will be some charges available as maintaining so mining is some thing like that it helps you to have safe transaction and for providing these facilities they demand their payment

I understand that bitcoin mining costs is higher than its ROI(return of investments) when bitcoin price is low,, but it doesn’t mean that it wasn’t profitable.. Only those who HODL they’re bitcoin until the recover price can expect earnings and that’s what is wrong to some miners..

We have this problem that making the cost vs profit imbalance and thats is our financial lifestyle.. We’re too much dependent on it and we don’t save.. Be a passive miner who keeps collecting and selling on the right price..

A few years ago, bitcoin was hundreds of times cheaper. Now the calculation of the block becomes more complicated every day. More and more capacity is required.
If Bitcoin is easy to mine, it will be a problem. Everyone can start mining bitcoin. And it will depreciate. This will be the first step to the death of the crypto world.

I wish I had started in the mining business early on, but no one is a seer  ;D :-X

What did you meant by this post actually? And what do you mean by being unlimited? For your kind information, the supply of Bitcoins is not unlimited. And the supply will be reducing by half in another two years from now.

Without a doubt bitcoin mining got way ahead of itself. But the price of video cards is finally going back down. There is a lot of competition in the mining space and a lot of risk. If you aren't willing to relocate repeatedly, you could have your power shut off. A lot of areas absolutely hate the idea of bitcoin mining for some reason and governments don't appreciate it when they are subsidizing power and bitcoin miners take advantage of that. I think more bitcoin miners need to be in places that want heat. That would at least do something.

Yes, it is so and it is now difficult for an ordinary person to engage in bitcoin mining, all have captured corporations. You may be profitable only if you live in a place with very cheap electricity.

in this point of view that you refer can be vo ^ ce and may be exaggerating because in different places because we speak only in mining but if a group of investors invests bare hydroelectric for power generation only for the use of mining would be an alternative but for this I would need millions of dollars

I think Make sure that if the cost of electricity and rig is cheaper than other nearby countries then it is worth the shot and you may get back your capital / investment as soon as possible.
Obviously mining is expensive but worth a try, if you ever plan to mine bitcoin then better do the background check and feasibility study of the project you are proposing.
Mining is not for everyone but for those who want to do it then better start doing your own research now

If we consider the market condition now then the price of coins are very low also btc also infected this issue also this time is mining is not perfect I think because its costly and the price of btc is low based on this situations only farm or if you have big amount of money then you can.

As you said, it depends on the trading and exchanges. Mining bitcoin might be costly provided with lots of equipments but it's worth it. But then again, if the price was a little lower, then more people could invest in it , causing it to grow and be more beneficial at the same time.

nope in the first time it costly if you upgrade your mining the cost of your every will have a income it will x2 .

if you live in a country where you don't have to pay for the electricity? Sooner or later we will be able to cut this cost to a significant amount. the mining equipments are expensive too because many peoples want to buy

yes, of course the mining will be very expensive if the country's electricity tariff is very high, but mining will be very profitable if it is done in a country that has a cheap electricity tariff, if in your country expensive electricity tariffs better do not do mining, invest and trade much better.

Bitcoin mining price will decrease, what will be with price? I think that PoW and current conditions are good for everyone. I live in county with cheap electricity, so I can mine it with profit.

It sure is expensive. The equipments/machines itself will cost so much that it will take years to get the amount back (not including the difficulty) .
This is why many people go for Altcoins when they think of mining because they don't have to buy specialized machines for that and can simply build a mining rig with GPUs. Electricity cost plays a vital role here as cheaper electricity will directly result in a greater profit.

Bitcoin mining isnt profitable anymore, considering the costs of the hardware equipments like ASIC, the constant use of electricity (most countries has expensive electricity), and the difficulty of mining a piece, just as you said. I dont think there would be a development to lessen the costs of mining equipments, just leave it to the old bitcoin miners.

I think the use of electricity with solar power is very helpful to offset the cost of electricity spending for mining. Some countries like South Africa have even used this alternative, but because the climate there is so hot, the miners there need a lot of computer cooling machines.

Look how much bitcoin cost?thats why mining bitcoin is very costly specially when time comes that the value reach $100,000 then it will get even higher,so the best option is mined altcoins lower cost and friendly user,but if i were you better buy coins and wait to pump than mining it yourself

In fact, you can't drill and store oil since storing will also cost you some buck which will only add up to overall costs. Surely not something that you want when the market is already below your production costs. Apart from that, you don't pay 7000$ to mine a 6000$ coin as you had already paid 7000$ when the price was high and now you have to mine or otherwise your equipment will be useless in a couple of years. Moreover, while storing oil will actually cost you something, storing bitcoins won't cost you anything. In other words, your example actually proves the contrary of what you are claiming here.


Shutting down your mining rig will invariably mean losing both on possible future profits and on your investment in this mining equipment. Do you have a mining rig?


This is not about theorizing in this way. People are mining coins at a loss in the hope of future growth, all costs considered. In a nutshell, they have no other choice as stopping mining would mean losing their investment in the mining rigs. In a sense, they are like people constantly adding up to a losing position.

Yes, you can store a lot of oil, check out the oil reserves of some countries and the cost for it.


Sorry but you are bent on not understanding how this works.
And most important here we're talking about FIXED costs of mining, not taking past and future situation.

Are you going to open a restaurant and serve people a 1$ ham at a loss because in twenty years a ham will cost 20$?
Don't think so.

To run a mining farm you have x costs per day. If you earn (x-2) in BTC it's not profitable.
So better shut it down and buy x in BTC.
If mining becomes again profitable you power it up again.

You can mine for 20 minutes a day and you can mine 24/7 (when its profitable)
It makes no f sense to mine at a loss. No sense!!!!!!


You shut down an equipment that costs 7000$ to create 6000$ worth of value and you use that money to buy directly BTC. This is not about how profitable mining will be if the prices go up.
This is how mining at a loss is compared to buying bitcoin directly:

For example.
Situation A
You spend 7 000$ to mine a 6 000$ BTC.
If the price per coins goes to 10 000$ you are in a profit of 3000$.

Situation B
You're mining at a loss and instead of spending 7 000$ on electricity you buy 1.2 BTC at a price of 6000.
If the price goes as in situation A to 10 000 your profit is.......5000!!!!!!!!!

Please don't argue with math!!!!  ;D


I've mined till 2014, then the kid came and no way I'm going to have an S9 in the house with a little kid.
But you can go and check the mining speculation section and how people with solar panels are discussing if it isn't better to mine only during the day as the cost with the batteries that would allow 24/7 mining is bringing the biz in red
Exactly the situation we speak of, mine with cheap power, turn it off when it's not profitable.



Simple solution. Sell the mining rig.

Yes, bitcoin mining is costly because we must buy Bitcoin miner machines and it very expensive if you wanted to get best result

I think it depends on the bitcoin price .. if bitcoin prices continue to increase, bitcoin mining can profit big, but if bitcoin prices go down, bitcoin mining becomes high cost .. bitcoin is a decentralized system that can provide benefits for those who use it investment or mining.

Mining has become somewhat difficult these days because of the less prices and costly electricity in your area.If the prices increase then you can increase your profits with mining and for that you need to have good graphichs in your computer hardwares which are costly amd most of the time you have to replace your hardwares which in turn decreases your profits.So mining at high levels is profitable only which is not at lower level.So try trading instead of mining.

I have how many months have stopped mining bitcoin gan. due to inadequate capital and digital devices such as finding good and good signal networks. and lektop which is good for Mining .

Yes indeed, bitcoin mining is very costly and it requires lot of resources especially time and knowledge about high-spec hardwares. However, it is up to people if they afford to have a setup focusing on mining, it is up to them if they really want to invest on such method despite of there are other methods on how to invest on bitcoin.

I understand what you are trying to get across here and agree with your point. Well, to a degree, let's call it a mathematical agreement. But as I said, it is pretty much the same when wannabe traders continue to add to a losing position in the hope of making profits in the future. Can it actually work out? Yes, it can. Does it make sense? It all depends. If prices go exponential in a couple of months, mining coins at a loss today may make perfect sense (again, all costs considered). So we are in a sort of gray zone here, when your electricity costs are still below the market price while your overall costs (including the cost of equipment) are higher. Do you think there won't be enough people willing to risk it?

Also, if a mining rig cost you $7k while the current price is at $6k, whom are you going to sell it to and at which price? Only to the ones who are in that gray zone and who are willing to mine at a loss today so that they could probably reap handsome profits tomorrow. Basically, the same people I mentioned above. Further, selling your mining rig under such circumstances is like selling your coins at 6k when you bought them at 20k. It means fixing losses once and for all. Obviously, this is not what most people will happily do even though it may in fact be a right decision if the market outlook is all doom and gloom.

It's a fundamental rule apply to start any type of business low to high,  means start only lowercast of material for get profit if we start high cast of material then we loose our profit as like start mining projects so long think it would be costly.

I also think it's a bit costly. The pc rigs and the electric bills are pricey enough and bills these
days are not getting any cheaper. But a friend of mine invested in it, after a sensible and
informative talk, I got the picture why it's worth the risk and money. It's a matter of preference
and belief, some of us believe in campaigns and bounties so we support and get into it,
it's pretty much the same I guess with miners. Risk will always be a determining factor in
any form of business and investments, but payoffs are rewarding and success with it.

Glad we're coming to an understanding.

What I was trying to say is that mining is a fixed game, a game of numbers and efficiency.
If the income is going down (not always because of costs but because of increasing hashrate) you can always just shut it down and you are safe, you don't have to bleed money, you know that at 6xxx you lose money at 6yyy you're making money.

Traders don't have this luxury. For them is gambling, they have to spot the events before they happen.
This is why I stopped trading after just a month, I don't have the time nor can I cope with the stress.

As for the people joining...damn I don't have a clue...
I always underestimate the risks people are willing to take in order to make money.


In my example I've talked about 7000$ fixed costs, the cost of running your equipment, not total costs which include the ROI of the rig or amortization, so If you thought I was talking about that then there is no point debating it.
When it comes to mining equipment, ROI and other stuff you have so many variables (like when you bought the damn miner) that is just too hard to draw a general conclusion.

One thing to add...
I'm so happy that there is still possible to have a discussion in the bitcoin discussion section  ;D

Bitcoin mining is quite expensive now and if you are expecting to make a profit from it, then recouping your investment may be a huge challenge. Apart from high cost of electricity consumption, cost of bitcoin mining equipment is high.

I still think that bitcoin mining is really worth the shot, however due to its current value Miners are losing right now. But I hope bitcoin will jump rocket its value at the end of 2018 at the very least

Mining is assessed distinctively in various nations. It relies upon the cost of power from the cost and nature of hardware. In any case, I feel that the cost of the digital money isn't influenced by This exclusive influences the quantity of bitcoins mined. The cost of digital forms of money relies upon different variables. One of which is free market activity.

Yes, exactly bitcoin mining needs huge investment from mining hardware to software and it takes time to take back that investment or ROI, even using cloud mining is not so effective if we are just a simple miner.

yes it will happen if hardware manufacturers lower their price also the electricity cost. As difficulty of bitcoin now is very high, so we need a High end hardware with lower power consumption to get a high profit.

And I think that at this moment where the price is low it will take your investment back longer than when the price was higher. Although you don't need to worry about it since having a miner will ensure that you are earning bitcoin.

Yep that's totally true, also people are working on that

bitcoin mining is expensive. The equipment required are costly and it consumes a lot of energy. But it is all worth it in the end, because the most desirable coin is bitcoins. The people will go for the investments of this coin no matter what. So, the reward for the miners are huge too.

Nowadays I think people are not much interested due to such a fallen price of the btc coin and also many countries have still not legalized it and thus they do not want to take chance as if it gets banned they may end up in  a loss.

For me mining is also a good case for electric power and at the time because it is not as fast as there is also another mining investment need to make your income easier, but I think mining is expensive Invest in other sites like trading and marketing.

For me mining is expensive because it's not worth your money here but mining is being minimized how much you're paying for mining so it's good to have mining cases small income here

That's why I've said I agree with you purely mathematically. But people are not mathematical types at large, though the ones who mine tend to be more inclined toward hard numbers rather than emotions, especially if they have been in the business for years.


If I'm not mistaken, what you mean here by fixed costs is correctly called variable costs, that is the costs of actually running your rig. In this case, these would be electricity costs. Fixed costs, or overhead costs, don't change with the output, and they include depreciation which is in essence the cost of the mining rig itself allocated over the period in which you are going to use your miner. Obviously, if you stop mining, your investment will be lost, either fully or partially, unless you have already returned it. Then it is all about variable costs.


You're welcome mate!

Though mining needs a lot of equipment and needs a lot of maintenance, the yielding profit is worth it and your spent money to buy those equipment and its maintenance are paid with a very big profit.

Yes, the bitcoin mining cost is very high now, but the increase in computing power is helpful to the network.

Yes, now bitcoin mining is costly. The fee in mining bitcoin now became high and not only the fees, the price of electricity now became high and the equipments in starting up a mining machines also high. And in addition theres so many mining sites now. So you will gain income a little nowadays in mining not just like before.

I don't get what you are saying here. Mining rigs are so expensive these days and that is obvious since crypto currencies will give you are stable profit if you buy a miner and start mining good crypto currencies though you really need to be patient since not because you bought it expensive, it will quickly generate a profit for you, it won't, you still need to be patient.

Your equipments are one time investment but the main thing here is the electricity or any type of power consumed...You can use solar powers or you can invest in electricity if the cost of electricity is much less in your place... Otherwise the cost of electricity will be much more than your profit.

I actually agree with that statement. My dad and I used to plan acquiring a Bitcoin mining package in a local meetup. However, we just realized that it will cost a lot of electricity and may add up to our bill. If you want to make profit with mining, you should be prepared to setup a mining farm of your own with a huge capital and emotionally prepared for any risks taken.

I think better to buy bitcoin from good exchanges and hold , Bitcoin mining is very costly and useless, electricity is more usage for bitcoin mining, before if you mine you will get good return your efficiency but not the mining bitcoin is very less and big miners only got benefit. If you want to earn good money then invest in bitcoin and wait for the exact time to sell, bitcoin have great future and this is the best time to invest.

the larger the spec of pc and also the minning software, the greater the cost for minning, and also the cost of electric bills. although it can get bitcoin in bulk each month, but also will definitely cut the cost of a large electric bill as well.

That's why it's very difficult to mine Bitcoin because it requires many costly instruments and it consume more of electricity.

Yes, as far as I know, mining is really becoming more and more expensive. The calculations are becoming more difficult and more and more computers are trying to solve these tasks, that's why miners need to have more powerful equipment that will be able to deal with more difficult calculations. Moreover, the costs for electricity are also not low. That's why more and more people who want to enter the crypto community prefer buying cryptos on exchanges.

If we are talking about this say two or three years ago, I can say that yes Bitcoin mining is costly but it is a great idea and is very profitable. But now, as we speak, I don't think so, before mining is costly but it has great returns now, it still has good returns but the cost has sky rocketed that the good returns may not be good enough in the long run, most of the necessities on mining like the mining rig, equipment, electricity and all the stuff cost way way higher now due to the fact that it is being used for Bitcoin, so the profit is not as big as before since the investment capital alone is already high.

If there's an easy way for it then all people will just mine BTC to be rich and rich until the maximum supply mined so there will be a cheap market for that if that happens. Yes its costly because it deserve to be cause of its high value.

Good thing that technology is always evolving. As the computing difficulty goes up, it would drive people to innovate more powerful GPUs. Though I've read in some articles that printing fiat and maintaining the operation of banks are more costly than mining.

Mining will  take more power of electricity as well as supper condition of matchines. By today mining is more popular because pice of bitcoins which are earned by mining is higher than mining cost.  

You are wrong, mining itself would not be so costly. There is no need even for 1/10000th of this power, that is used for mining, to validate transactions and keep records. What makes it "expensive", is lottery scheme of rewards. Everybody tries to mine, driven by the high (speculative) price of coins. BTC is a scheme -  no more.

Yes, not only costly, but also time consuming, I prefer buying in low market.

not expensive because it is not as expensive as what is in need right by a Bank Negara which is where we live.

as long as the electricity supply is still there and the tools to mine still a lot, then can not say expensive, can say expensive because of a rare and difficult to get.

Yes, mining would take a lot of money to start up that is why you should be living in a more efficient places where the electricity cost is low yet the internet is fast and reliable. Another thing is the set-up of the computer, especially mining is high specification thing to do. As of now new innovative GPU's are being created and the price is quite expensive because in mining you will be needing a lot of powerful GPU.

The idea is that does what you got from mining gives you the money needes to pay for electricity and also for rate of return of investment. If the answer is yes then, you should stop complaining because business sometines requires huge amount of capital but also gives better profit. The profit that you may get also depends on the condition of where thr devices for mining is located. Mining is advisable to places which is cold and costs cheap electricity.

Demand on mining equipment increasing every years and peoples want to build their own bitcoin mining. Thats why equipment to build bitcoin always increasing the price. Electricity cost in several country different with others but i think its profitable to build our own mining because its passive income

I've heard that Bitcoin mining would become more and more expensive so it would be not executive anymore to mine it with not having a facility power, so this way the process of mining the last bitcoin would be far away from now.

Bitcoin is equivalent to digital gold and the price is close to the cost of mining. But the situation of Bitcoin may be more complicated, because the cost of electricity in different countries is different on a global scale, so the cost of mining bitcoin is still very different between different countries.

Doing bitcoin mining is to expensive especially the mining equipment and other necessary tool that you need. Also mining fee nowadays and even before is to high. But rhe good thing in bitcoin mining is too worthcit and surely giving a great return from all ylur expenses used builting mining tools and equipment.

the current mining costs are so expensive. because the results obtained from the mining are also quite a lot. so it is not surprising that the current cost of mining is quite expensive. so we look first for future mining costs. because the mining also requires high voltage

If someone is still thinking about starting bitcoin mining then the person surely has a great amount of black money,
Now with huge block difficulty, expensive hardwares, insane usage of electricity bitcoin mining is really a cumbersome process.

Mining Bitcoin´s requires a high computing power that provides specialized ASIC devices. It is precisely because of these devices that Bitcoin's mining on a normal home computer is almost worthless or mined by a normal mortal. The mininig difficulty, the price of mining equipment and also the price of electricity consumed is too high. So if you do not have a backpack full of money, mininig bitcoin is not worth it.

Yea, its a costly and hard too. As bitcoin is valuable it has right to be mined costly. But also I wish it will be low cost and I hope for this.

Something i know Bitcoin mining cost is pretty high.Fist of all i think Bitcoin mining rig is more important & obviously need high power rig.Electricity cost basically depend on high or low power rig.I used AntMiner S9 it's reliable power efficiency.Also AntMiner U2 is the best.

if I personally prefer not to do mining, because in my country the cost of electricity is very expensive, besides not everyone can do mining. requires expertise and also adequate tools...

Yeah it's really costly to mine bitcoin nowadays as electricity cost is overtaking the profit of mining nowadays and if a person earns $8 per day through mining he/she will end up paying $6 for electricity.

Yes, today mining has become very expensive. The cost of powerful equipment and electricity and the competition among miners make mining impossible for ordinary people.

Yes, the bitcoin miners' group is already a difficult world to access. It's hard for others to communicate with them, and they do not want to communicate with us. I think it is necessary to reduce the energy consumption of mining.

Great perception. But, I have a new version of it.

1. Electricity - my county electricity supply run from a private company, that's why it is more expensive. So, we have to find alternative electricity supply like solar power.
2. Maintenance - Yes, keep your units in a cool place but it is hard to find in my country. So, we take the advantage of planting more solar panels near the are with more power supply and created a ventilation in our place. By that way, we keep the place cool.
3. Noise - Why would we keep it in private? What's the point in keeping it private? My place is in public and everyone knows it. And for the record, no one has tried to disturb me.
4. Price - You think it is not good? Well, you're wrong. It ks better to mine bitcoin as of now. You are like preparing for the big comeback. The more you mine today, the more profit you will have tomorrow.

Bitcoin mining is completely depend upon the electricity charges. And according to countries electricity rate the mining rate is totally depend on it. In my country electricity rate is pretty expensive so ultimately mining also becomes expensive.

I have some mining devices but currently i have estimated that it is getting costly and therefore they are currently useless for me,  but still i am not going to sell it because i am waiting for the price to increase and then may be it will become profitable and then i will like to install the system again, but it is right to say that in current time bitcoin mining is costly.

It's same case everywhere mate as far as the electricity rate is concerned in my country it's affordable and cheaper than most of the countries but mining is time consuming and less profitable and it comes with high maintenance.

Even if you have a backpack full of money it's probably not worth it. Since you still have to buy miners from shady monopolies like Bitmain who will burn in your chips my mining with them while they're most profitable before dumping them on everyone else.

The cost of mining is completely varied on your location. If you are in a major city with little to no renewable energy...then mining may not be for you. However if you happened to be fortunate to live near a solar farm, hydroelectric plant, or wind farm..then mining becomes a profitable venture. Depending on the size of your operation it can wield a high overhead with massive results, or you can just benefit from having a small handful of rigs. This is all varied on the electrical price of your area. If you look into mining and see that it can be profitable for you, dm me or stop by the website and we would be happy to assist you in getting the miner that can mine what you are looking for the most efficiently.

It’s true. For bitcoin mining, you need high configuration computer. But it’s not affordable for all of us. Because it’s very costly for set up. That’s why so many people are not doing this mining. I think bitcoin needs to remove this problem.

for me, the fiat currencies exist in physical form like physical denominations of the currency available in the form of paper notes and coins, While crypto are completely digital and no physical denominations. sooner this digital will used to pay in any store because technology evolved.

yes it's hard for you to live with 47 chromosomes if you believe in bitcoin, you must believe in Socratus

    Yes,mining is an expensive tool to use to earn bitcoin. It need to consume a higher electricity and use an expensive equipment. But there are place that mining is worth profitable. In our country mining is not advisable much better to do trading to earn profit.

yes, the bitcoin mining cost is very high now, but the increase in computing power is helpful to the network.

it's correct. Exploiting bitcoin is costly because it consumes a large amount of electricity and other equipment.

If you determine the money bitcoin should invest a lot of computers and many machines have the opportunity to dig, now many people spend $ 10,000 to invest in orchestral machines to automatically plow the bitcoin. Your investment in bitcoin digging equipment is not only expensive to buy but also electricity, because these devices run continuously, so it consumes a lot of energy, every month electricity can be reached thousands of dollars are normal.

There are several factors, which make the cost of bitcoin mining very expensive, among others: The amount of electric energy consumed (government property). The high price of hardware ASIC Miner which isn't enough one or two units only (belong to third party companies). The high cost of building rental, maintenance fees, etc. I think it's not easy lower mining costs even that thing cannot be done.

The cost of mining is totally changed on your area. In the event that you are in a noteworthy city with next to zero inexhaustible energy...then digging may not be for you. Be that as it may on the off chance that you happened to be blessed to live almost a sun oriented ranch, hydroelectric plant, or wind farm..then mining turns into a gainful wander. Contingent upon the extent of your activity it can employ a high overhead with gigantic outcomes, or you can simply profit by having a little bunch of apparatuses.

Well the high rate of bitcoin is also because of the fact that mining bitcoin is a very costly procedure which takes up a lot of electricity and also time, although even after the production cost being so high the rates would have never been to 20k dollars nor the 6k dollars which are the present rates, it all happens due to the investors and traders who put in their money in cryptos to earn profit.

It can not be denied if the cost to mine bitcoin is very expensive. For electricity consumption and installation of devices to mine alone require expensive capital. However, if we have a smart strategy then we can get a tremendous profit through this mining. But if we just mine carelessly without knowledge, it can be ascertained and we can experience the loss and the capital that we spend will be lost in vain. With the high cost of this mining, you should before going into the mining world to find deep information and knowledge about mining. It aims to launch your business in mining.

Yes that is right, i think that it can be profitable if it is possible to use solar energy for  mining, in my area as we are facing shortage of electricity and therefore now most of the people are trying to install solar system for getting electricity from solar system. i think it will be a one time investment and then we can mine bitcoin without any cost. 

Mining cost a lot and take much of your efforts, but in the end of the day all those hard work and used resources will be worth it.

The cost to build a large Bitcoin rig is enormous, and you need to spend a lot of money on mining equipment. But you will be able to get back your initial investment in the short term so do not worry that this is an expensive investment.

Yes, bitcoin mining is so costly. Instead of dealing with it, we should invest in some mining company like Genesis mining but we profiting their takes time. Doing mining takes so much energy and costly for maintaining it and of course they should be located in a cold atmosphere to be more efficient in power consumption.

Yes, it is really very costly which is why it is necessary to consider other variants of getting btc which won't take you much money and efforts, it is better to take part in ICO projects ,choose those you consider reliable and trustworthy

If the electricity and equipment costs in your country it is probably worth a shot. Y

For now there is no other way to reduce the electricity cost in mining bitcoin because many peoples mining it.
They are using many asic miner to earn more btc, resulting much consume on electricity, and makes the difficulty harder to mining it.

Can be said if the economic law is when your large capital mugnkin great income, as well as his sebalika if your capital is small then your profit is also small.

Bitcoin is now expensive so it makes mining equipment too expensive, different first when there is still pauchet, Bitcoin cheap when there is Pauchet and sekarng become expensive then pauchet was useless, right?

mining is like gambling because you're mining not for today but for the next few months
we do not know what happens next month, whether the price goes up or down
so it takes the right calculation if you decide to mining because it requires a large resource if we miscalculate then we will get a loss

So what?  I mean,  there are many ways earn here and it is on us on what to do. It is for the one who can afford it and besides,  it is for them to invest on it and it is really appropriate for them to earn money on their investment.  They invest not just on the start, but also the maintenance because the electricity cost too much. So I think there is no problem on that part.

someday there will be a solution that you like.
For now it looks like bitcoin like beta test so there is still very little innovation.
I am sure once 5-10 years the news bitcoin will be better than now

Yah right mate, I strongly agree on you. Bitcoin mining uses to many resources like high speed super computer and internet connection and probably electricity. You will probably loss so much of money after you gain a single coin sadly sometimes not even a coin. Bitcoin mining is applicable on big companies only for me.

To get a bitcoin you should have a good machine as well as you will have a lot of costs such as electricity as well as other costs so that you can get it in different countries so there will be a price for waterfall. different

It is costly. Dozens of computers operate 24 hours a day. A huge amount of energy. Moreover, the money to invest in those computers is not cheap at all

The most important thing is not to despair and not to take hasty conclusions. It's good to think about what you can do without losing self-control, and start learning new knowledge)

sure, mining is needed high cost like the electricity and the maintenance, from the price right now and the difficulty of any coin right now there are many miners that stop mining because they don't get any profit. maybe if someday there are good hardware  to mining in effeicency i think will makes high profit

i think that mining is too expensive and it becomes more and more expensive day after day! how to deal with this? I have read that in Russia there is a city devoted to mining crypto, I don't know whether it is a good idea to mine or not

If there could be some accounting way which indeed miners have; if the cost to mine a single coin would equal to the profit that I could gain, then probably there`s no point of achieving a higher profit because it is still break even. The cost of profit might not be inline with the source of profit in selling bitcoin (since income is based on trading exchanges); however, miners accounted their total income over their cost of getting a coin based on the value in the exchange (per coin). So, if the cost of mining is high = high profit; then it would be the same as with luxurious commodities out there. Though it cannot be compared to high-end commodities because bitcoin is not a product - it is an investment.

So my point, if the income is adjacent to its cost and cannot be monitored; and if we cannot control over it then mining nowadays is not advisable at all.

If you compare the electricity cost of bitcoin with paper money, i think producing paper money is require more resources to consume.
At first, mining bitcoin was very profitable, but now everyone seems want to mining bitcoin. The difficulty is very high now, makes it hard to mine.

Bitcoin mining is costly. But maybe you can mine different coins like eth. If i had the capital for this i would venture into it no question. I would invest in solar or wind or kinetic for electricity cost. The only problem Is capital. It takes money to make money.

country like Philippines is not required to do mining bitcoin because of the high electricity  cost.mining is fit only to the country that low electricity cost.

of course, very inefficient if electricity is more expensive in comparison with the proceeds from bitcoin sales, especially now the value of bitcoin falls

True, bitcoin mining certainly takes a lot of electrical energy assumptions and spends a lot of money. In addition, the equipment used must be adequate and of course requires a large capital to equip mining equipment to generate profits. Bitcoin mining is difficult to simplify its function, since most mining factors require a large power source, unless electricity costs in the country have a very low cost.

Of course, Bitcoin mining costs a lot, but it's worth the profit. And when viewed from the equipment needed for Bitcoin mining, this is not cheap equipment. And when the mining process requires continuous electricity. A piece of equipment, knowledge, and capital are things to really pay attention to if you want to do mining.

The price for the extraction of bitcoin can not so rapidly increase as its market price. Therefore, it is much more important to accompany the rise of its price in the economic arena.

Yes. Not costly of your money but costly of your time. But its profitable so why not?

That's really killing miners right now, the mining expenses is far more than the mined coins, I guess those who are still in this field are people who still hoping and believing that somehow mine coins can be save and hold inside their wallet and wait till the value increases again.

Mining will take more intensity of power and also dinner state of machines. By today mining is more prominent in light of the fact that pice of bitcoins which are earned by mining is higher than mining cost.

As you stated, it relies upon on the trading and exchanges. Mining bitcoin might be luxurious supplied with plenty of equipments however it is well worth it. but on the other hand, if the charge become a little lower, then more human beings could make investment.

I know Bitcoin is a very expensive coin, which is no more expensive than this world. Bitcoin is a digital currency that can not be directly hand-held because it is a software and it is currently using Bitcoin for various purposes.

The high price of mining I think depends on the area of residence because the electricity tariff of each country is different and the equipment used is also different, depending on the chosen for mining. But the price of cryptocurrency not affected by this only affects the amount of bitcoin being mined. The price of cryptocurrency depends on other factors. One is supply and demand.

Mining is expensive as mining equipment is sold at a price so that expected mining rewards are cash-negative when compared to outright buying BTC - otherwise companies like Bitmain would just mine themselves; I see BTC mining as a hobby personally.

yes, bitcoin mining requires a lot of capital for electricity problems. this is very realized by miners propesional. but I think there are always tricks that can make it more efficient, it's just that I do not know the technical problems, I suggest you try to visit the board mine in this forum there are many discussions there.

I think today mining is becoming more and more expensive. Calculations are becoming increasingly difficult and more computers are trying to complete these tasks, which is why miners need to have more powerful tools that will be able to deal with more difficult calculations. Moreover, the cost for electricity is also not low, so I think you should find other alternatives, such as investing in bitcoin or follow bounty campaign.

I think advancing the process and software and equipment for bitcoin mining is the the development we need in the bitcoin community right now because the high cost of mining bitcoin is a great problem which we face at present moment, if their can be new advance means of mining bitcoin it will help the bitcoin network to grow fast and spread widely within a short period from now. We look forward to see new development in that aspects.

Cloud mining: how, by investing $ 1.5, it's easy to lure a bit bitcoin and other crypto-currencies
  10/10/2017 0 comments business idea, earnings, internet, real business
If you are planning in the near future to obtain several units of popular crypto currency and are already ready to build your own farm - stop. There are methods of mining without farms, and, consequently, without serious investments. So, this method will suit everyone - from beginners to professionals. Meet - cloud mining crypt. Fast. Just. From $ 1.5 per year

I am not a the miner bitcoin . But I already know that the cost to dig out Bitcoin is very expensive. Maybe some time later I will spend some time researching the exploitation of Bitcoin. Because many of my friends say that exploiting Bitcoin is very simple. It's a passive way of making money

the electricity is the main reason for the cost of the miners, if a renewable energy source in a country where the producing costs may be really cheap than the cost of it would definitely decrease otherwise we would need to make our own electricity in our homes in order to decrease the costs somehow.

I do not understand why people continue to exploit Bitcoin when costs are very expensive. People can exploit ETH or other coins. I have exploited the ETN coin at an exploit cost very cheap

For the average person, bitcoin mining is virtually impossible. Now there is a need for a farm with its own power supply, for example green energy ...

Mining, of course, is unprofitable and at the moment generates huge costs for electricity, which is why many people have abandoned it for a while ago. Should mining be cheaper to encourage people to do it again? Of course not because as you know the number of blocks to mine is finished and with each moment there are fewer and the prize for block mining increases so it would be pointless to facilitate the acquisition of something that is less and less. It's worth to look at it from this side.

Mining will become even less profitable in the nearest future because the reward for a completed block will be reduced by half.
Moreover, I heard some miners saying they would quit if BTC goes down below $3,000.
The only way of increasing the profit from mining is moving to a country with the lowest electricity price (Canada, China, Switzerland, Iceland).

Mining any cryptocurrency needs expensive equipment and high electricity consumption. I would rather mine alternatives if I had the money, because you can mine them with normal graphic cards instead of buying new Antminers and similar. It is more profitable and a high end graphic card is much cheaper and it is still good for mining.

I think that it is costly but it is worth it! To my mind, it is the best way to get coins and this is the best way to promote crypto in general, in Russia there is a city with miners who are engaged in getting coins.

Yeah I have heard about bitcoin mining. And according to my knowledge it's really very costly. And to set up miners it's really expensive.

Bitcoin mining cost is expensive indeed, you need to buy the latest mining tools such as asic miner to mining it effectively.
Many miners close their mining activity because everyday bitcoin difficult increase due the newest equipment.
maybe you can mining other coins instead bitcoin.

I personally do not think that investing in bitcoin mining is a wise idea given the fact that it really does consume large amount of electricity and just like what you said it has a  expensive equipment , I'd rather investin alternative coin virtual currenycy than in bitcoin because as of now the price of bitcoin always declines.

I think that if there is a mining that will be easy and cheap, no sane person will buy a single satoshi and they can only mine it without ever buying from others. The cost of mining is one factor of the high price. There are so many sh * tcoins using the same algo with bitcoin but their mining difficulty is very low, you can try to mine them to see what happens. How about you. Thanks

Bitcoin mining is too costly because it requires expensive supercomputers. Better to use that capital to trade coins in usd.

Yes, but the reduction in operating costs will also contribute to profitability. We can exploit Bitcoin and hold it until its price is higher. We are still bitcoin holders and never worry about capital losses. Because Chinese traders have said that they are always profitable when the price of bitcoin is over $ 3k.

Obviously mining is very expensive, especially if it is done in a country with expensive electricity tariffs, but mining will be more profitable if in a country where electricity tariffs are cheaper, so if the electricity tariffs in your country are expensive it is better to invest than the embarrassment of mining. .

i think that In the event that you will begin mining at current trouble and cost of bitcoin you is just misfortune except if you have free or exceptionally shoddy power. Mining with cloud gets nowadays is much the same as doing suicide your agreement will end subsequent to being unbeneficial like the greater part of the viabtc contracts will be. So in both way yes mining is exorbitant and not gainful at the present time but rather in the event that you will keep all bitcoin you will dig now for next couple of months you may make gigantic benefit so its like betting.

Yes the main thing for mining is the electricity... Investment is one time investment...Now depending on your region that whats the cost of electricity...or you can also use solar power...or any other type of energy source depending on your place.

I have heard that sooner or later mining, as it is right now will stop and we will continue to mine only those things that are required in order to make all the transactions between wallets. This will be the only.

Is there any solution for that, there is no concrete study on how much electricity it consumes globally to mine bitcoin or is it even possible to compare the amount of electricity used by all the financial institutions around the globe, i can bet it will be much larger than anything else, so stop comparing the amount of electricity being used as it makes no sense, i really hope we could see renewable energy sources being used to mine bitcoin in the future, but it is just a opinion.

Yes, bitcoin mining is costly indeed. It is estimated that average Global mining cost per btc is around $4K. So people are speculating that btc won't go below 4K ever again. PoW mining systems consumes a lot of electricity, that is why newer projects are aiming for better models like POS. But the difficulty to mine coins like BTC will indeed make it valuable in the future.
Lesser supply, greater demand, that's it.

Basically, it doesn't harm if it really has high funds for it, it will pay off with satisfactory results as well. But well... if it were forcing it, it wouldn't be good and better look for other efforts to gain profit besides mining, moreover now more ways to earn profits from crypto.

Yeah, bitcoin mining is very expensive, largely because there is so much competition for newly minted bitcoins. There are huge facilities filled with powerful computers dedicated solely to mine bitcoin. What I'd like to see is a shift to using renewable energy for bitcoin mining.

that wouldn't make any difference as it always depends on the amount of miners and their hashing powers. If the costs were lower, than more people would have mined and the result would be the same

Nowadays unless you have very cheap electricity and all the most modern equipment and a huge mining farm you are no longer going to be able to mine Bitcoin profitably at these prices. Now mining has become an industry for the rich only and small people are ousted out of the game and now can only mine other much cheaper and much smaller crypto currencies. I hope soon Bitcoin can go up in value dramatically so mining can become more profitable for the smaller mining farms once again.

Yes it is because those people who do mining they need to do it in 24 hour open of their computer that is the reason why do mining is costly because of high electric bill they need to pay. And also 24 hours open of your computer is not good especially when your place has no proper ventilation because it possible to your computer to cause overheat. So i think better to have proper place when you do mining, also when you do mining expect a high electric bill.

The thing is, it differs on what type of mining you will be inclined to. There are minings which is indeed needed to use electricity as well as internet connection, some are you just need to set it up then it can mine automatically. But the thing is as of this moment more mining sites took slowly to mine, so the cost you have invested will not be equal to what you can earn. But tyere are other ways of earning bitcoin.

Bitcoin mining hardware is very costly

bitcoin mining is costly because need more power supply and expensive equipment's like GPU and also need  Software. but many people are doing this because mining is costly but give guaranteed income compare to trading bitcoins and other currencies on exchanges also mining is not for everyone. if u are ready for high costly equipment's then u can otherwise not.

Exploitation is not for everyone but for those who want to do it it is better to start doing your own research now, the difficulty will increase with it and the profits will be the same as every other

yeah! I agree im that. before you mine bitcoin you need an hig specification hardware computer and we know that the high specification hardware is very costly.so it islike you invest bitcoin but in other way because you use money to obtain bitcoin. ctually it is more costly than the investing .and I am not sure if the earnings in this is worth it.

Long-term investment is great for bitcoin mining tools
one can get small profit, but stable with mining tool
its price is expensive, but the risks to be faced are small and with small profits too
a miner might get ROI in the 10th month, that means after 10 months of being a miner, chances are they will be easier in collecting BTC pieces in their wallet

Mining of bitcoin is good if you have a long term investment.mining now is so much costly and higher difficulty in the blockchain network is the hindrance. Better you just enter into a trading site and start trading rather than to mined bitcoin but if you have money then go to bitcoin mining.

Well if someone is thinking that they will setup a bitcoin mining rig in their free time then he or she is totally fool to do this cause the investment of time and money they will put in will yield only few dollars which won’t be beneficial, where as someone with a lot of money is thinking to setup a large scale mining rig possibly near some power station so that no electricity problem is faced then he or she can still earn huge even now.

Bitcoin mining as everyone thought they could do in part time is totally wrong it requires a lot of patience and maintainence and also funds to and a good setup to earn some good amount of bitcoins. Also if after investing a lot of time one is earning a few dollars then it is not really feasible, also the cost of electricity equipments and a proper mining place decides the amount of total profit, if done properly with patience and proper maintenance one can earn huge.

Yes bitcoin mining is definitely expensive and requires a lot of maintenance. I was planning to start mining but when I researched about it I realized that it's out of my league. The mining rig is expensive and way out of my budget plus the maintenance is too much for me.

Yeah as of now mining is not suitable as it is either loss or very little profit and in both the case the investment of time and money put in is never returned back, although for large scale mining rigs which are operated by companies it can still work out to give a good amount of profit.

But yeah everything matters on how you work and how much effort and time you put in and also what facilities are available to you and also a bit of luck is necessary in every form of investment be it mining or hodling.

mining bitcoin so expensive because of equipment price rise drastically because of orders and out of stock reasons especially the graphic cards and processors and mainly other reason is electricity also due to electricity price some countries so high the rates  bitcoin mining is hard ROI  to get because of the investment cost is so expensive but sometimes equipment may damage due to power loss , due to over heating also .

Mining today is not recommended to do bt this time where bitcoin is falling because even though yoy mined about 1 bitcoin it is not enough to pay all the bills and equipment you bought.

Fundstrat’s model for calculating mining costs takes a few factors into account. The first is the cost of the computers themselves as the mathematical problems get progressively harder over time, miners need to keep upgrading their rigs. The second issue is energy. Making loads of incorrect guesses uses a lot of it. And then there’s cooling; all that energy use throws off a lot of heat.  :-[ :-[ :-[

Mining consumes a large amount of energy, electricity, so it goes without saying that it costs a big amount of money too. In my country, from the beginning of 2018, the government  claims that the price of electricity would increase to those who use tools, machines for mining. Indeed, mining is pretty hard and tough job, but if you’re a profession, you are able to get significant profitable. I prefer trading and investing to mining, because I reckon that I’m more interested in trading than mining.

Yes, it's true that if you mine bitcoin it consumes a lot of electricity and if you have not a high a large processors you mine a little so you need a lot of effort to mine bitcoin, High technology laptops, computet upgrades so a lot of money but if you mine it your investment to buy equipments will return.

Mining is assessed distinctively in various nations. It relies upon the cost of power from the cost and nature of hardware. In any case, I believe that the cost of the digital money isn't influenced by This exclusive influences the quantity of bitcoins mined. The cost of digital currencies relies upon different elements. One of which is free market activity.

It is true that if you want to mine bitcoin then you need a lot of money because the equipments or the mining rigs for bitcoin is not that cheap and you need to invest a lot of money and you need to wait for a medium to long term if you want a good return because it is not like the other investment that you will be gaining a lot of money in your first month.

Bitcoin mining does require a very high cost, so that only certain people who can do the mining. But indeed the results obtained are also very high so that although the mining costs are large but still done some people to produce far greater profits. But I think investment will also be able to generate huge profits and we can do with the cost adjusted to our ability, for that if not yet able to do the mining because it collided with the cost, then the best way is to invest, and I have bought some bitcoin and already feel the benefits that I think big enough through bitcoin investment.

If there is no charge what does not dig. However, it may be difficult to invest in equipment and costs

It is costly because to mining bitcoin now, you need the latest asic miners to earn max profit. The latest = the most advanced and most expensive.
The electricity cost of asic is more than GPU mining i think. So, no wonder that bitcoin price is very expensive than any other altcoins.

If you really want to engage mining you really have to prepare real amount of money just to set-up a mining rig for better performance you have to use the most sophisticated and advance mining tech for high chance of mining success, getting up mining tools really expensive and it really cost electricity.

Yes, it is really difficult to get good profit in bitcoin mining so it really need a very high specs of mining rigs. For me it is better to mine altcoins compared to bitcoin but this is still depends how you will build the mining rigs.

Bitcoin mining is costly specially if you live in a country where electricity don't come cheap. Add the weather condition, if you live in a tropical country, that's another extra cost for you since you need to have a good ventilation to keep the rigs cool and that's another cost to add to your electricity cost. Plus man power, you can't man your rigs alone, you need someone to look after your rigs 24/7 and that's not free as well.

Bitcoin mining is indeed very expensive especially the cost of electricity consumption. The machines require a high voltage and constant electricity supply. I really like the idea behind the 4NEW project. It aims at cutting the cost of electricity used in mining.

You can read more about their project at https://4new.io

Making mining rig is really costly as it requires a very good specifications of your hardware and a heavy duty piece of machine be it an ASIC miner or GPU miner. Although it is costly, but it can give you profit while you're just sitting back and doing nothing.

Mining is too cost most especially for those of us in less developed countries facing poor economy and lack of eley

Currently bitcoin mining uses specialized computers called ASICs which are specifically designed to solve the puzzles requires to mine bitcoin. Due to their specific nature, the machines are custom designed and manufactured. As they are not mass produced, they cost more to buy.

The minning tools it self is very expensive and the infrastructures that must be prepared also expensive. I give up with bitcoin minning at this time, now I more focus on masternode coin like CAZ and etc. I heard that mine altcoin like ETH or etc is more profitable.

indeed it is really costy and if you don't have enough money to support or sustain that business you cannot really keep on going. that also depends if you have your resources available already for work so you can use that up and try to make money for it.

Yes, one of the factor that makes bitcoin`s price so mad is because of its high cost in the electricity. Other factors may be specified such as equipment, computing power and etc; not mentioning the manpower used to operate this rigs. However, it is not advisable to engage mining of bitcoin right now, it would potentially result to loss due to fixed amount of mined coins. Thus, ICO will be better than mining.

that's true, but I think you have less knowledge about mining and its techniques.
I think if you are interested I suggest you should discuss more at the mine board, there are many who share knowledge for easier in mining.

It is the law of supply and demand.

At the moment, there is a mining rush going on with fewer hardware available to fulfill the demand of the requests to buy more. Hence, the ASICs are sold at the premium.

Another indication is when sellers are taking advantage of this situation and they are offering the old models almost at the same price of the new ones.

of course its expensive, but its an invest of time and money but its worth it in the end if you make the right investment decision.

There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

they're costly, but they're the only option to mine bitcoins. As with everything, bitcoin mining is more profitable for large mining farms that can buy cheaper miners and cut their electricity costs

Yes, I have also heard that mining today is nor feasible. Some local authorities even introduce different special rates for miners. For example, in NY miners will pay more than average consumers.

Right now, mining bitcoin are only for those who create large mining farms. These mining farms then lease their hashing power for more profits. ASIC machines are very pricey. And locations should be taken into account where electricity is the cheapest.

Mining requires enormous capital and in-depth knowledge in cryptography, it is what causes only large companies that can do mining because they certainly have high computer specifications. if you do not want to take the risk then it is better to join BTC trade only.

Bitcoin is proof of work and using blockchain system. Its need miner to keep data transaction 24/7 days. Mining cost can reduced in several country because electricity cost much lower than others. I am reading news that to produce 1 bitcoin in Iran, need $600 to pay electricity bill

reducing the cost of production will saturate the market with cheap bitcoins, which will affect the fall in price and since the market quickly balances everything, we will see a fair price again. long-term investors will suffer from it, and it will be imperceptible to new ones. Therefore, such a solution is beneficial only for energy companies. Although it may not be beneficial for them to lose consumers. Therefore, they are interested in the high cost of bitcoin mining

Any sort of Cryptocurrency mining is expensive. You have look invest in a lot of parametres. You have to buy the hardware, acquire the legal requirements, cover the electricity costs and hire experts to look after the whole process. You also have to acquire a proper safe place for the installation.

Mining is very expensive now. Miners spend more on electricity than do bitcoins. And in the future it will be even more expensive. If the bitcoin price stabilizes, and enough miners come to this market, in the near future, you can expect a fivefold increase in their energy consumption.

Plus the power of the man, you can not man your rig alone, you need someone to take care of your rig 24/7 and that is not free as well. Other factors can be specified as equipment, computing power and so on; Not to mention the manpower used to operate the rig. Therefore, ICO will be better than mining.

Mining is costly because of expensive hardware,mining rigs also electricity price mining is not possible for everyone but who can get these hardware with cheap price,low cost electricity and proper market research then mining is possible. if peoples think they can't mine bitcoins so how market get supply and how fulfill demands of buyers.

I do not think it is expensive. Although it uses a lot of power to dig up coin, the value it gives is very high when Bitcoin is at $ 7k3.
I feel this is a promising mining industry. Although the number of coin has increased to 17 million, there are still plenty of opportunities for us to get rich. I am intending to import Bitcoin diggers. ;)

That is true only if we are trying to mine ony by ourselfes. If we are trying to make something with some people it could be easier and it could lead to profits after some time of mining.

If you are a miner you should know something like this before. Mining bitcoin should have a lot of capital besides the cost of electricity should be considered, so you will know the profit in the future you can get when you start.

Nowadays minig realy become more expensive. Calculations are becoming more and more difficult, the number of miners lately has grown at many times. As for me i think to stop minig BTC in near future.

yeah, mining bitcoin is costly. Because it wants a lot of power for mining. In early times there was not required very high-performance utilities for mine bitcoins. But now, the situation has been changed. Miner should have high performed utilities for mining. And also it requires a lot of energy. So why I told mining bitcoin is much costly.

even though that it cost too much the coin that it can be provide for you and take for you are so much worth for your taking the cost of mining the tools and also the electricity provided by dont look how much or how is it can be think for that it can help the community of bitcoin as well.

Bitcoin mining is actually very expensive. For you to really mine something tangible you need to be able to buy the expensive machines and be able to afford steady electricity.

Now Bitcoin mining is very costly because you can buy good product for mining buy you can't  get profit from Bitcoin mining. now out put service will not to be better for Bitcoin mining.

bitcoin mining is costly....If you actually hook the 1080ti's up to a PC you can control the power draw in a major way, it would probably save you hundreds of dollars a month on electricity for mining.

Yes, now it is very expensive to extract bitcoin. Due to the fact that a lot of competition among the mining people and the development of technology, it's impossible to get to ordinary users.

Mining bitcoins in 2018 is not the same as mining bitcoin in 2012, the complexity has increased and the profits are not worth as much depending on the hardware you use, that is, it was once possible to mine bitcoins with an ordinary desktop computer nowadays you need your own hardware for this purpose.

The actual profit you will make depends on several factors. The first is your hash rate - in other words, the actual processing power of your machine. Computers designed for mining, or "platforms" as they are commonly known, require large amounts of electricity consumption, which will increase operating costs. The complexity of mining also increases with time.

it is true that mining is in desperate need of equipment, and with. cheap costs will indeed generate cheap opinions and that is what many people especially expect miners expect.

of course, it's like mining a gold that requires a lot of heavy and sophisticated equipment to be more effective. But I think it is worth the amount that can be obtained, I will do it if my financial support.

Bitcoin mining is costly yet one of the most lucrative avenues in crypto. To set up a Bitcoin mining office requires quite a large amount of capital to purchase the ASICs and computers. Also, electricity bills must be catered for.

Before you say i want to start miming bitcoin have you figured out the cost and  how much worth of electricity it will consume. There are some things meant for the
 made people who have the power to push. Bitcoin miming for an average man is like sending him back to were he

Yes it is costly and consumes a big amount of electricity rate thats why lots of mining nowadays happens in cooled cave or mountain and also finding places that has low price of electricity rate

Fact is that at the current price levels, we may consider bitcoin mining expensive especially if one is just acquiring the hardware (even aside from the high electricity cost required in most countries). However, at higher price levels of 20k and above, even in spite of the level of difficulty and all that, profitability in mining will not be much of a hard task to attain.

Yeah i'm agree with your opinion, there are many people said that doing mining now is not legit more. Maybe you can only get small margin because of the condition of market right now. If you use antminer for mining it will be cost more, high electric consumption and noisy. You must doing maintenance and keep the temperature for this tools.

Yes ofcourse the tools used for the bitcoin mining is too much costly...as for making much profit you have to invest...Not only that if the electricity cost is more in your area then you cant do mining....Or you can use solar powers for mining which will reduce electricity cost to zero and you can have your whole profit...Just meet the conditions.

You also have to consider the market price, we know the price of bitcoin can change, this will affect the exchange rate to get money. if you sell when the price is down then the profit can get a little because it is used to pay the electricity bill. so you have to be smart in managing mining machinery.

Well, the mining is not a one-time activity. It is a continuous process and one should expect the profit on a larger timescale. When someone is involved in mining activity, he should aim for break-even point where he will be able to recover his expenses occurred in setting up a mining plant. Then after recovering those expenses (capital expenditure), he will see positive cash flow as he will be left only with the revenue expenses which is comparatively lower than capital expenditure. Bitcoin mining is not costly but it is a time-consuming business and not a casual part-time activity anymore.

Of course it will be very expensive in bitcoin mining process, because of the many costs that must be spent to do the mining. And I think it's too late if today we just started mining, because maybe the results obtained are not in line with expectations, given the current movement of bitcoin prices and the amount of bitcoin. So in my opinion it is more effective to be able to earn big income if we buy or invest bitcoin, in the current situation and conditions.

It must cost a lot because of the electricity that it use. That is a large amount of energy

Yeah, that's why you'd rather invest nowadays instead since it's a bit tad late for mining.

Bitcoin reward mining is now smaller, while maintaining cost, electricity, and others are more expensive, I think mining will no longer be profitable in the future, you can see fewer mining sites than a few years ago, because currently people are more interested investing  in altcoin, ico and trading

Yes, mining is very costly and hard to get. You have to get yourself a very high-speed internet connection and buy other expensive hardware and software to enable you mine bitcoin. Aside these you need to have an in-depth knowledge on how the mining is like. I think it difficult to mine than to buy.

There are two options for mining: cloud-based mining with your equipment and the second option cloudy mining! in the first version you will need about 22 000 dollars chiots immediately start to get a good profit, and in the second version you can at times less, but then the main thing is to choose a good partner so that you will not be deceived!

It must be costly because we need a large amount of energy in order to create bitcoin

It depends on your goal, if you mine BTC and just sell it, that will be not a profitable way but if you are planning to mine and hold your BTC for a long time until it gets its highest price then it will be profitable. Also some country charge a very high for electricity bill if your country if one of that then mining will not be profitable for you.

That question is very dependant on several things, but to put it simply, it can cost a lot. To purchase 1 or even a few mining rigs (such as an Antminer S9), you are looking at $2,000–3,000 each (at least). At Bitcoin's current value, that should net you $15–20 per day, per machine.

If you have additional resources, you can simply multiply those numbers and see how many mining machines you want. The issue with scaling up your mining operation will be access to the electricity to support a large number of devices. Also, cooling, site acquisition and prep, electrical distribution all become factors. If you are familiar with the various aspects of data center design and development, you will be able to cut cost. If not, you will have to hire a consultant.

It's obviously that It is not easy for bitcoin mining. Therefore, It must be costly

Mining a Bitcoin Costs about as much as buying one these days. “Mining” Bitcoin is a notoriously expensive business—recent calculations by the lighting company Elite Fixtures suggest that it costs a fortune to mine one Bitcoin in some countries.

yeah itcoin mining is costly, if you want to mine bitcoins I think the country temperature is important like in my country mining bitcoin is not profitable due our climate is hot and we need to have an expensive air-conditioner to fulfill the needs of the computer to mine bitcoins.

Yeahh mining of bitcoin is costly because of the fact that it uses the Proof of Stakes as a method of its consensus mechanism in confirming new blocks unto its blockchain. It would be quite better to join a mining cloud that way you can earn quite a bit since and you would not be using much electricity like others are using.

Indeed the cost of bitcoin mining is high enough in my opinion difficult to trim. The cost for electricity needs is very high because for mining requires high electrical power. Other than that the device used for mining is also not arbitrary. This device is expensive so a miner cost a lot to start the mining business. Indeed we have the expectation that mining costs may be lower but I am not sure that mining costs can be reduced anymore. No one does not want a high profit so someone will be mining if already have capital. The main capital that is not less important is the knowledge and insight about mining.

Indeed mining is expensive but it is worth a try and learned, if you ever plan to mine bitcoin then it is better to do early inspection and feasibility study of the project you are proposing.
Make sure that if the cost of electricity and rig is cheaper than other nearby countries then it is worth the shot and you may get back your capital / investment as soon as possible. Mining is not for everyone but for those who want to do it then better start doing your own research now. Thanks

So true. Mining of bitcoin is now very expensive. The cost is very much and if you want to do mining then you need good thoughts and strategies so that you do not lose. Think carefully before starting mining.

Really, to make Bitcoin mining you have to have big capital to make a big profit and look.

For me i did not in favor in bitcoin mining because the mining rig is very expensive aside from costly electricity and the amount of coins mine is not good enough to pay mining expenses so i prefer to buy a crypto investment and i can easily without any stress.

While bitcoin's mining industry has consumed a lot of electricity, many of them are idle power in some remote areas. I don't think the cost of bitcoin should be reduced. Now the price is determined by the force.

Mining of bitcoin is now very expensive. From my perspective its obviously that it is not easy for bitcoin mining so it uses a lot of time. Lot of time means a lot of electicity consumption which is very expensive these days. It must be costly because we need a large amount of energy in order to create bitcoin.

I think mining is no longer profitable in the future, you can see fewer mining sites than a few years ago, because nowadays people are more interested in investing in altcoin, ico, and trading.

mining as a handicraft production comes to naught, mining becomes high-tech and the production of equipment will be the main in the next technological redistribution.

Yes. Bitcoin mining is very expensive.
A lot of energy is required to be able to mine bitcoin and this is making mining non- lucrative from what it used to be.

Once bitcoin was created it was possible to get more than 100 bitcoins per day on a regular laptop and now who did not have time to take advantage of this opportunity, he missed his chance. Do not miss the moment that is now, because in the future to get bitcoin will be even more difficult.

yes. it is true that bitcoin mining is very costly because it is not easy to mine a coin, they need a lot of energy for that

Indeed, it is costly especially when your country billed higher amount of electric cost (considering other cost factors); most probably it will not be effective mining bitcoin on such scenario. Given that the amount of bitcoin may vary its price from time to time, then the cost would sustain a fixed expenditure; then it would be a great disaster and a poor headed plan - on entering battlefield without guns. Thus, it is necessary to conduct a feasibility study to determine the impact of cost on the total operation before investing for rigs and equipment.

If bitcoin is being exploited at this point in time, you will be at a loss because the bitcoin price is dropping unless you use it for free. Excessive exploitation will cause environmental pollution and power shortages.

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I agree with you because really we must spend more time than we can earn. Maybe if you will be working day and night you will faster earn your money.

I think that in different places we are seeing a different result. For example in my country as I am a regular bitcoin miner. No doubt that it is giving me some profit but still the profit that I get from mining is not a good one and that is only because of the expensive cost of electricity and secondly because of the long long load shedding,

I think it totally depends upon countries electricity rate. If the electricity rate is cheap in the country then the mining of bitcoin will become cheaper and similarly, if the price of electricity is higher then the mining of bitcoin will become expensive.

unless you are doing it on a large scale, not even profitable.This is why I have chosen   ICO investment over bitcoin mining. The difficulty level is now very high, and it greatly consumes electricity.

It's been well known for a while now that if you're not a mining farm OR in specific countries w/ low power cost (or both), mining is going to be unprofitable.

That's the nature of Bitcoin & demand.

I'm in Canada, power here is insane, so I pretty much know I'll never be able to mine for a profit (maybe for hobby w. losses)

Clearly mining is expensive however justified regardless of a shot, in the event that you ever anticipate mining a bitcoin at that point better complete a bsckground check and practicality investigation of your proposed venture

For beyond any doubt that if the power expenses and apparatuses are less expensive than other adjacent nations then it is extremely justified regardless of a shot and you may get back your capital/venture as quickly as time permits. Digging isn't for everyone except for the individuals who need to improve begin doing your own examination now

If mining popularity goes down, difficulty goes down and mining becomes once again profitable.
That's the only benefit of loss of popularity.

Yes, now it is not beneficial to mine bitcoin as its difficulty is growing significantly and rewards are very low now so ROI takes a long time to recover your investment.

Bitcoin mining is expensive because of the algorithm which it uses in adding newly identified blocks unto its blockchain. Bitcoin network uses the Proof-of-Work to add new blocks unto its chain and that makes it difficult and expensive.

Honest about mining, I never even knew, especially to be able to do that must have huge capital, but for example, bitcoin mining costs are expensive and cannot make a profit, why do people do it, and is there no other way to mine bitcoin at low cost, or just people in hobbies to do it ,?

Yeah, Mining Bitcoin is High costly, And also we should have best performed utilities for mining Bitcoin as well.

Yeah bitcoin is very costly because of the fact it uses special gadgets such as anti-miners which consumes high amount of electricity. I think this is what makes the reward in bitcoin quite huge because it is very difficult to identify the next block unto the blockchain.

Mining could be costly when you the price of bitcoin is continue to drop and could be worst beside on electricity bill but if bitcoin is continue to pump to the moon it will be profitable and it will become you rich.

Now mining cost is high because it is calculated in terms of USD and the value of mined BTC is less now. so when the price of BTC will increase it will be more  profitable

Bitcoin mining is costly not cheap because Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial level venture.  Therefore mining cannot be profitable at a small scale unless you have access to free or really cheap electricity.

An assessment of last month states that mining costs of bitcoin are still lower that bank costs of manage and print coins, so I think that is a simple FUD.

Yes and as I knew, you will need the right and expensive gadgets to mine coins and so thus the electricity rate in the country you live, mining will cost a lot of capital to be able to mine bitcoins but you need to have a big amount for a proper and productive miner.

With the increase in the cost of mining in the network, I don't think the mining of bitcoin needs to reduce costs. It may be more advantageous to change mining methods. Can we use a resource like solar energy to mining?

That is true, bitcoin extraction consumes a lot of power from dedicated devices such as graphics cards. You need to analyze the energy consumption process and a well-planned plan to ensure efficient operation. It needs experience, time, great financial resources. Even cloud mining includes these.

indeed it is true that in mining we really need a lot of equipment and also high costs, and if in trading we buy cheap prices and then we hold back until prices rise high we can certainly make a big profit.

Yeah for now bitcoin mining would not be that good because of the current market price for bitcoin which is down. So probably bitcoin mining establishment for now would take lesser bitcoins in the process because of the market current situation. Anyway if bitcoin will go strong again then it would be good for mining bitcoin also.

Electronic money is a form of using the power of computers to decipher transactions. An electronic currency will appear and exist for a certain period of time. Since the same amount of code appears over a period of time, the higher the number of machines, the lower the profit, but the more important is the power consumption. New machines produce too massively, sometimes resulting in too much profit. I went bankrupt when the excavator.

I think one of the factors which increases the cost of bitcoin mining is the high amount of electricity usage and I once saw an ICO(4new) who is planning to convert waste into electricity to support crypto mining and minimize the cost. I think it is a good project

In my opinion, if we are miners, we must know things like this before. Bitcoin mining definitely has a lot of capital besides the cost of electricity to watch out for, so we'll know the benefits we get when we start. That's because people understand that the current price is only temporary. It's good for Bitcoin to stop, now. It's a good time to buy and wait for what will happen in the next few months.

Low exploitation costs but high profitability. I think it will take time to research, mining will also affect the resources, hope the government is more concerned about the environment, mining along with the improvement. The process of exchanging and exchanging incessantly will create new points in the mining tool.

It came to the point when regular mining, one person involved is really not prospective anymore. You can not anymore take a profit having only one personal computer or something like that, you need to have a performant farms to earn at least something.

I think Bitcoin digging is difficult. Therefore, it is necessary to have a large number of machines that require a high cost. So your ability to speak is just the basic estimate, the desired effort, the present is the problem dilemma.

Bitcoin is still in a state still difficult to return with a very good price like last year, though high costs if stable bitcoin will surely be covered.

 if you want to earn big money you really need to invest big money in it too. First of all if you want to mind you need to sell some numbers how it works and what you really need to do and I agree with you that it is very expensive.

Bitcoin mining is very costly. The equipment used are on the high sides, then add power consumption to it which is quite huge. I won't advice anyone to go into bitcoin mining currently because it is now competitive. Investing huge funds in hardware won't even guarantee you breaker even soon enough. Other better altcoins are are there to mine. Rather than going for bitcoin ethereum is not that bad so far you have the resources to pursue it. But it is always better to join a mining pool for better results.

This statement is true in which bitcoin mining can be really really costly. Like in our countries that we have slow connection and the bill of electricity is high. I think it is now advisable to mined in my current situation.

yes, and that is another issue that pushes Bitcoin price higher.

Bitcoin mining is very expensive because it demands the use of electricity and it consumes a lot of electricity too. There are new projects coming up which will make Bitcoin mining much cheaper and use lower electricity in the process.

yeah youre right it consumes high electricity and expensive in monthly internet connections and you need fastest internet for this it consumes a big amount of bandwidth, the secret for a faster  mining is a high specification of computer the best processor is.I7

Everyone knows this already. You must spend a lot of money on super mining computers and electricity for you to mine very well.

You are bitcoin mining a bit expensive,Its equipment also costs a lot.And anyway, mining bitcoin is not just about everyone.

I have recently fallen into a situation where I get a free 30,000kwh for free each year and I still cant figure out how to make money mining.  Really irritates me as I would love to do the project.  

The price of bitcoin is at least 6000 USD so mining Bitcoin consumes a large amount of electricity which easily understand. Besides, mining Bitcoin also wastes a lot of time and money in official technology computer. For me, the only rich person trades in cryptocurrency, I mean that trading Bitcoin need extremely much money ( billion dolars ) . I think the people who dare to invest in BItcoin will not worry about this problem

Maybe you are right in this situation. But if the electricity were consumes lower, there would be more people who invest in Bitcoin.. Then this will lose the value of trading Bitcoin and this cryptocurrency market will worse. However, I still hope that someone will invent a way to costs of mining Bitcoin will be the most properly

Mining can be a lot of effort without the profits you think you’ll see. While there are ways to make it work, you risk putting money into your setup, only to watch the values of cryptocurrencies drop. For example, if the price of a bitcoin is around $11,000—still more than double what it was a few months ago.
As more and more Bitcoin miners join the network, the mining difficulty level also increases. This simply means that the miners/mining pools with more powerful hardware will win.

I think the price of cryptocurrency is not affected by this only affects the amount of bitcoin being mined. The price of cryptocurrency depends on other factors. One of them is supply and demand.
Mining is evaluated differently in various countries. It depends on the price of electricity from the cost and quality of the equipment.

To be honest, I do not think that Bitcoin mining is still a good business venture nowadays. Yes, I understand that the cost are really high, maintaining the equipment and the over all process. It also takes longer time before you can mine a coin, it is not going to be profitable in the long run.

Though it is that expensive, miners are choosing that way to earn because it is continuously running and generating more bitcoin even you at asleep. Do not have to work and give all your effort on it and earn huge even the electricity become costly. You can spend a lot on it first but it will stay for you to work in the long run unless it is being damage.

Bitcoin mining is costly because its mining consumed a lot of electricity and this time bitcoin price is going down. And some of factors which increase the cost of mining that is price of electricity from the cost and quality of using equipment effect the cost.

The Guardian reported during November that the bitcoin network consumes 30.14TWh a year, which not only exceeds the usage of Ireland but also that of 19 other European countries.

Yes indeed costly but sure earnings. There are lot of ways to save energy during mining although costly but its a lifetime savings by using the renewable source of energy like the solar energy panel in which you can assemble as many of this just to have an enormous amounts of energy  for free.

If the consumed amount of electricity for mining gets lower, we will see more miners joining the network and increase all the hashrate. Mining is a difficult and costly process..

Yeah bitcoin mining is very expensive and this is all because of the required equipments that you wil need in order to start mining of bitcoin and also issues of high energy consumption also comes in. This is why most people are getting into running of masternodes.

Yes, in my opinion it is also like that, mining is very easy and gets results, but what about capital, such as electricity costs, internet fees and if there is damage to the equipment, it is equally not profitable and even detrimental to me.

I think bitcoin is like this, the more difficult it is to mine, the more valuable it will be and so they will not be able to manipulate it because they will always see that percentage that will be difficult to control much of the bitcoin whenever they try to mine faster. algorithm will change and its difficulty goes up so it is better to leave it as it follows its natural course

Price of bitcoin is very high due to the huge demand and popularity in the whole world that's why every body wants to mine the bitcoin. Daily bitcoin mining   quantity is fix and every day miners are increasing and demand of bitcoin hardware is increasing the price which is very higher as compare to the last  four years. Now bitcoin is mining less and consumption of electricity of is more which effects the cost of bitcoin.

It is true that now bitcoin mining is very costly even it can not fulfill your expenses of electricity etc but if you come for Ether or other coins there is a chance to mine for earning that coins and it is very good way to earn coins through this way and it is the most useful way in that countries where electricity is less expensive.

if you are a miner, then you sell BTC at the current price, of course you will lose
you should HODL for a certain period of time, so you can get a bigger profit,
the money needed to buy mining tools, I think it is more effective to use daily trading with 2% profit per day. I think it's enough

Bitcoin mining is not easy work. It require many things like storing system, electricity, internet connection and a good computer operator who must have a good knowledge and experience about mining. At present bitcoin mining is costly as compare to past 2-3 years.

Yeah setting up or mining crypto requires a good internet connection and aside from that there are specific hardware that could accept and acknowledge to lo learn  more since since the gadgets and other player equipment. However, having a bitcoin mining still benefits the one who own the mining equipment. And if you have some time then earn BTC a good time one time profit.

I think that mining is not the most profitable way to earn money for now. But if everything improves then there would now be a good bride to buy good video cards. Because the demand is now smaller, and with it the price is cheaper.