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Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

Mining alt is still and will be always profitable if you chose the right equipment and the right coin to mine. But you cant mining ETN with GPU right? what setup did you use for it? you still can sell all those rigs to someone else though. Or move to different coin that still less difficulty and gain more coin.

First, I think this should have been posted at the altcoins mining section. Now, back in 2017, I also got involved in mining and the bear market caught up as well, rendering my investments into losses. I do not lose hope. I believe mining will still be profitable again and its getting better as the bull run commences.

You are mining using expensive mining rigs you really need to calculate if you are indeed making a profit or would be making a profit, I am mining two coins right now, they are already in the market and I don't need expensive mining rigs, you might want to check out these two coins,
JSECoin and Banano, you can mine using a browser, or using folding @ home to mine Banano.

mining always requires a lower electricity cost and preferably a cheaper equipment access too. if you have that then you can make it profitable and if you don't it doesn't matter if it is a pumping season or not, you will have trouble making profit.
as for the market trends you always want to mine when coins are being pumped and also it is preferable to switch between the coins to always mine the pumping coins and not so much as those that are done pumping and have entered their dumping phase.
(it is best if you ask these questions in the altcoin mining board.)

Yes, mining will be profitable when bull run return, that time everything will in green status and all people will profitable like 2017, but when? may you wait for the unknown date coming and still able to cover your electricity cost? I think you should check your mining rig, maybe you need to adjust your mining settings to lower electricity cost, don't mining ETN anymore and tried to find some valuable coins. Some of my friends even they don't earn too much profit in current condition, but still able to use their mining rewards to pay the bills.

No doubt that mining altcoins will be profitable again for non exclusive miners when the bulls return and this kind of topic must be discussed on Mining (Altcoins). (https://bitcointalk.org/index.php?board=160.0)

There's a bunch of experts in mining alts there.

You should've think of it carefully before venturing into mining. In some countries mining is not sutainable due to energy cost, not to include maintenance, and the cost of rigs. Never invest into anything without even figuring out if it will be worth it or will it be profitable in thw long-run.

Since the market has decreased at various prices of coins, I no longer do the name mining, because the results are no longer as expected, if I used to do mining just a short time later I immediately stopped because the rules and rewards were always different.

It seems to me that you need to look at small coins that have a high-quality user base and a clear development algorithm. The complexity of their mining is usually not high, and the potential for price growth is present.

yes it will be more profitable when the pumpers start up again BUT you are going to be choosing a tiny profit compared to the profit that can be found in trading because mining costs a lot of money and also you can never dump it as fast as you can dump the coins while trading. not to mention that while trading you can easily and near instantly go from one coin to another (like when one coin is dumped and another is starting to pump) but you can not do that in mining.
so maybe it is best if you start trading instead of mining since you have already tried that and failed at it.

I believe Mining will be profitable again though but it will take time to gradually get back to normal.  If you are Mining and don't have a good return,  I suggest you hold on for now till the market is better

I am still mining it is a bit profitable. Achieved ROI in July 2017, bought most of the equipment in April 2017.

Better move this topic to  Mining (Altcoins) (https://bitcointalk.org/index.php?board=160.0) section

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Not sure if you could really call it a FOMO, it was probably a good decision to invest in mining at the time. What happened to your friend who introduced you to mining? Did he/she sold his/her rigs last year?


More likely but it still depends on which altcoin/s you are mining of course.

I think sooner or later mining is again going to become profitable as the value of key coins like btc and eth grows and im hearing from miners that btc mining has already become profitable as btc is nearing 6000 mark again i will personally still hold btc and eth rather than mining because my conservative targets for btc and eth by the end of this year are 10k and 500 respectively while my optimistic target is 20k for btc and 1k for eth so im more of a hodler than miner myself.

Mining early coins can be profitable but when you want to switch to the big ones , you need big mining power in order to compete with the big ones. I think right now masternodes are the next gen of mining.

2017 was a great year for both mining and trading. Depending on the ROI calculation the invested amounts can be increased proportionately. Profitable coins are known by the crypto community and I am sure everyone will greatly share their trading ideas if you need.

The fact that most altcoins are heavily dump and they only holding a small percentage from its ATH, I believe it is profitable.
When you do mining and you will just save your mine coins waiting for it to rise again, it should give you a good profit.
The last bull run, coins turn over x10 of its price and that makes the miners more profitable.

When you are a miner, you also have a mind of a crypto investor to sell at the timing and maximize your income.

You should do a research before digging in investment type of stuff, like mining you can still call it as an investment because you are investing your money to make money, you can cut losses now if you think there will be no hope for mining anymore sell your coins and mining rig, mining surely will become profitable again when the price goes up again, the higher the price the bigger the return.

It's better to stake these days. I am staking DeepOnion for quite sometimes and having a good profit although the price of DeepOnion is quite low. Moreover, there's no huge hassle. Just set up your wallet and you are okay to go with.

Masternode coins and longer-term trading are better than investing all into single currency. If the basket is full of shitcoins then there are no many things left to do. Hassle free trading is all about long term trading.

at that time it was indeed the best time for crypto activists because at that time the market conditions were very good so it made perfect sense if the miners could earn a large income even at that time bounty hunters like me could also get a lot of income and because I believed that times like that will come again so I still want to wait and try to get as many coins as possible so that my assets increase so that when bullrun arrives, I can get good results, I think that's the best I can do now, instead of not doing okay then I chose to try even though the conditions were very difficult

Almost every investor experienced the harsh realities of the 2018 bearish market or way or the other.
But  I believe that nolmacy is beginning to return in the market and this could give rise to the bullish trend . When this happens, everyone will recover their loss.
.

Fomo is never good unless you are sure that the coin you are investing in is still undervalued and same goes for investing in other venues i have seen mining fomo was huge in 2017 and it ended in huge loss to big investors especially because not only they had huge energy bills but there was no buyer of their mining equipment after market was taken over by bears.

Mining will forever be profitable,though it might not bring in as much as it was bringing in before now but it will forever be profitable.As long as transactions are been made on blockchain,mining will be profitable.

definitely, mining will be profitable in the coming years and the POW algorithm will exist for a long time, but I think that many altcoins will go away and those which will remain will be transferred to POS

If you had invested in Bitcoin during December, for example, you would have paid around $20,000 for a Bitcoin. This would mean that investors who took money at that time lost value and never actually recovered until now.

FOMO is also pretty terrible when it comes to investing in ICOs that end up flopping. Cryptocurrency FOMO is real, but make sure you don't end up losing everything like some investors did.

The funny thing about cryptocurrency FOMO is that there's a lot of truth to it. You will miss out on some opportunities to profit. That's just the nature of the game. No one, not even the Winklevoss twins, have managed to have pure profit just from investing in every single opportunity out there.

Mining can be profitable if the price of electricity is low to get a profit every month after pay electricity, but you can risk and mine altcoins and hold them for bull run if you affort to pay electricity from own pocket until bull run.

Nothing bad if you fall for fear of missing out
But what matters is today; did you learn from your past mistakes ? And did you apply the lessons to present trades and improvement of your portfolio??

I feel you broh, I was hooked up to that too when suddenly it goes beyond disappointment. At first it was cool but then when the bearish market arrived I stopped. I later on go to my parents house to mine there. As it is super cheap electrify for me because it was free. My rigs was in a good place and it has air conditioning to maintain temp. I did not realize the pain earlier, there are things to maintain that's one of the reason I felt I should just quit and buy then hodl.

The fear of missing FOMO out is a big reason why people lose money when investing in cryptocurrencies because then another experience about how to get search for investment purpose so when they listen to hype that is not the project they can easily fall for it and get scammed or lose their money to projects that are below level.
Always do extensive research before invest your money into any Project and stay safe.

It will still be profitable. But next time you need to consider some things.

Place. - Are you paying higher fees in electricity in your country? If yes then you should stop it. You will just lose a lot more than ROI.
Equipment - You need a better one to equal those who are mining now.
Coin - What coin are you going to mine.

You cannot just leap to the mining industry without even having thoughts if it is profitable or not.

Mining is still paying and will continue paying, the only thing needed when dealing with altcoin mining is perseverance and strong determination. Losing with mining when bears come unexpectedly is sure but with time when market regains is shape, making good money is also sure.

Mining etn it was for phone right? why you don't have back up on it, always remember that put a back up when having an important files, well you choose a right coin for mining or else your effort would be wasted because of the high bill on your electric currency for now mining is not good at the moment.

Thank. I will not be lured more into this kind of activity. I just finished selling my mining equipment just a couple of months ago. Of course I managed to make a profit, but I no longer want to do mining. To mining brings a good income you need cheap electricity, which I do not have.

the miners are now just patient and waiting for the market to recover,
I'm sure most of the miners prefer to hold the coins instead of selling them now,
because they know, in 2020 there will be a big explosion for bitcoin. because it coincides with halvng day.

Falling for FOMO is the biggest mistake any investor can make, if the price have gone high as compared to when you saw it, you could just leave that investment and then research for another good project to invest on, don't enter into an investment because you see people entering it, if you must venture into it, then have a reason for wanting to go into the project. FOMO could end you into a loss.

That's what the most miners did from the testimonies that I've read including the forums. They used their own funds to sustain the electricity bill so they can continue mining and looking for that hope that the coin they mine will skyrocket.

They forget about the daily cost of their operation as long as they are accumulating that specific coin, they are good on it. While waiting for that coin's time to increase, trading helps to continue making some decent profit.

I started to mine ethereum by the same time you've mentioned. By that time it calculated to give an earning of 0.5eth after meeting all my electricity bills. Later as the price began to drop I was unable to settle my electricity bills, further I shut the mining rig. Hope the price will recover so that somehow I can get back the investment back.

Mining is one time investment so you can mine later when the coins are profitable,I am not sure what hardware you had used to mine previously,if it has high hash rates then you can use it for future as well.Or you can start mine the low difficulty level coins and then hold it in this bull run to make profits but you might need to wait if you want profits.

Not sure about it will or not, but you must able to compete with another miner. A bull can return and it looks like there was a lot of miners have already prepared their money to increase their hashrate anytime. The bad thing in mining when you can't increase your hashrate power and your profit will decrease caused by those big miners are putting new rig will rob your profit.

Through this I wonder, which year is the best to start doing mining sets and start mining as well? because most of the comments that I read is saying that in 2017 (Where we all know bull is strong), the mining asset is not doing good in the market. If that so, I think the mining profit at this year is even worse.

As if now mining is not at all profitable but I am trying to mfind me some of the well recognise coins like bitcoin , ethereum and holding expecting for next bull run . Until now it’s not profitable over investment.

Yeah that's correct, for example if we are going to mine bitcoin, it was better to use antminer, through that we can imply the best hardware is not always the best specs but those that is directly in line with the best crypto that we are going to choose in order to make profits in mining. I think there are also altcoins profitable using your mining set, just take a look and have a research.

Since you already invested on your mining equipment then I guess you only need to know what to mine while other coins are not profitable anymore.
If the (Electric and internet) Bills are way higher than what you are mining then I think you should just stop.
But if it isn't then just keep on mining and hold those coin that you get and wait for the market to raise up again.

I don't think he are not dumb for not mining other coins. As you know that most of the coins are mineable but only 1 of 99 can be sold.

There is a difference between FOMOing and buying BTC at $20K or ETH at $1400 and buying some computer hardware to mine.

Basically the hardware is probably worth at least 50% of what you paid for it, you said you got 50% ROI so you are close to break-even.

If you bought BTC at $20K you would be sitting at a huge 70% loss and if you bought ETH in the 4 digits your loss would even be higher. And there is a chance that ETH will never go back to 4 digits again. So don't feel bad about your FOMO, it could of been worse.

I don't think mining is profitable. It costs more money and you take the risk to destroy your hardware. You can look at whattomine to know if is worth to mine a coin. But it is not with a computer.
I have lost one pc because of mining coins. If you are mining, you should take it as a hobby and not as something that might give a better return.
If you are mining with an ASIC miner, it is maybe profitable. But it is easier and faster to buy cryptos at the right time directly and do some trading or just keep it.
Or you can do bounties and airdrops.

For people who live in country with cheap electricity tariff, i think mining is profitable. China is biggest miner in the world and dominating many new project in crypto.
I dont think market condition right now is FOMO, its natural growth and i am believe this continue and hopely bitcoin price will reach $6000 first

I always felt that mining entailed a great deal of risk. You have so many things beyond your control such as the price of the coin and advances in miner technology and you have an often lengthy time horizon before you will actually turn a profit on your investment. I always felt that their were easier ways to make cryptocurrency than actually mining.

you got profit if you already mining minimal 3 or 6 six month before dec 2017, because my brother buy some mining and get lose for now.
he bought and cant earn anything for now, because eth price was drop only get money for 5 month and now cant do anything because the cost for electric is more expensive then earn from mining.
so if you want make bet for mine now and wish late year all coin will pump.

I think there is not much hope for altcoin mining in the future, because the Chinese government recently ordered to restrict mining and start to stop completely by 2022. I think there will be fomo deals for altcoin has good technologies in the future

When i heard aboit mining, i was hyped,  i thought it was as simple as abc. When i knew better,  i understood that mining in my country WILL NEVER be profitable if the power supply remains as we have it now. So I didn't even FOMO.... Mining will continue to be hard and unprofitable for solo miners,  and less profitable for pool miners becausee of the complexity of the calculations to be done will be harder and harder each day

Topic isn't belongs to altcoin discussion, should be move on Mining Discussion board(reported). It's normal that mining isn't much profitable on bear market. Because eventually we have to convert out coin into fiat for withdrawal. So usually we can't sell it high rate if markets on bear mode. I don't think Electroneum mining will give you much profit. Try some others potential coins. And if possible then try to hold it until next bull. That's why I told don't depend on online earning. If its your passive income then just hold your mining's coin. Hope somedays you will get good return.

the bitcoin mining is as lucrative as it used to be when you get the first few BTCs in time.
this train has been leaving for a long time and i hope there are still some who are successfully investing in such a project.
basically i am sceptical about mining for new projects and approaches :-X

A lot of persons and companies still makes millions of dollars from mining and well still keep making more, the only thing I can tell you about mining is that it's capital intensive and you might need a lot of management to run it, I will not advise anyone to start mining at a small scale because it's not so profitable and I see it as a total waste of time, the best for you to do when getting into mining, is to budget a lot of capital for it in order to get machines that could compete with others.

I also noticed this dynamic and the FOMO began to appear, only yesterday I began to notice it, because I saw a mark of 5600. I think that there are a lot of such people and therefore people probably experience FOMO today.

Sorry for falling for Fomo, it just a part of the lesson you gonna learn in your cryptocurrency journey and am sure you have learnt it which you gonna used in many of your next attempts, so don't let it happen to you again.

Yes mining can be profitable, also in the current market.
Maybe you should give us more information about your setup?
What cards you you have? amd, nvidia?

Why do (or did) you mine electroneum? I mean there are several other projects with better future potential.
How high are your electricity costs etc.?

We have all been a victim of fomo in our trade at one point or another. It becomes very difficult when you're a daily trader, sometimes the moment you fomo into a coin the coin comes crashing reking you in the process.

Way back to 2017, the situation was different and we need a different level of crypto ecosystem versions. Fomo is good in the bull markets and missing the key answer is the best answer to the FOMO.

The problem with mining is that there is always new hardware being developed which is better than the last models and it is likely that when the bull market appears your mining hardware will not be adequate and profitable anymore, if you had bought coins instead of that mining equipment you will have a better chance to recover your money since whatever coins you had could always recover thanks to hype alone, but since you did not do that your situation is very complex and only an experienced miner could get out of it with profits.

I remember these days, I really feel FOMO before and it is different things before than at this present. FOMO it needs a massive adoption and has a huge pump up the price. I think the word FOMO now is nearly happening we saw progress even there is a small correction but when it comes resistance it is continuously growing up since by then.

Mining brought and brings profit. It all depends on your equipment and the cost of electricity. It is important to choose the coins for mining, which are best mined on your equipment. There are specialized sites for rebounds.

Not only you, there were many peoples coming to buying cryptocurrency in 2017 when it was skyrocketing.
I think this has happened every year. When bitcoin and altcoins was going up very fast and hit the new All time high, peoples were come to join the train.
Maybe you can expect some bull again few years later and the FOMO will happening again.

I tried to mine through renting and I find it profitable if we choose the right coins to mine. Mining this days is kinda hard since difficulty is getting higher and if we have no adequate equipment, we will be just wasting our resources.  Aside from that majority of token or coins now a day are premined and only a few that use POW.

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I believe mining will be profitable once the bulls return.  You see, we can sell our coins in  a higher price with the same amount of capital for our mining activity.

You are just saying this because the current situation of the market is bearish. When the bull run happens, mining will be profitable once again. Now the question is when will the bull run happen.

Nobody knows when it will happen but one thing is for sure, IT WILL HAPPEN anytime so if you are mining at this moment just continue to mine because there will be a time that you will get your profit because mining altcoins are profitable because they are more volatile compare to Bitcoin.

I understand that it is really getting difficult for miners to really make profit now because of the bear market situation, but now that we are gradually leaving the red arena, I think miners should start seeing some improvement, especially when mining the major coins responding to the green market.

You know the coin being mined too matters in this, Though BTC is very quiet capital intensive to mine now and very costly, I believe that the complaints BTC miners will have, cannot be as much as what other people mining some coins that are not rising in value will have. But I typically believe that the next bull run will favor all miners.

Its great to enter in a bull but the risk is high and you don't know if the price will stop to pump. FOMO is not good at all, because it looks like you are panicking to buy and you don't have any study about that coin and the result will too costly for you. Many newbies are trap on the peak because of FOMO, they don't even have the chance to sold their token because they don't have a plan so its risky and better not to feel FOMO again.

Don't worry about it. I think all of us here at some point fell for it. Some of us got lucky and fell for it early, and made good profits. Some of us missed boats it was just a matter of luck and timing not so much skill.

Mining can be profitable for alts I think so, but only long term. IT isn't like Bitcoin where you sell as you mine, because it is cheaper you mine and hold hoping for even 5% increase in price to make up for the cost.

Well, if there is a bull, the profit will cover the costs. But now is not the time for home farms. Who would not say, I think that this is not profitable for many years. A small profit in the replacement of the permanent control equipment, with the risk of fire. I think that there are many ways and without production.

Every time cannot be rosy, I think mining is also a seasonal thing, just like the price of coins are, we experience bear market for a while, and then bull market, I think everything or crypto success is tied to the bull market, all investors, traders, miners and many more are being affected by the bull market.

We just have to wait for the market to recover completely, so that we can have more demands, then miners will definitely get back to business, so it means that everyone in crypto as a role to play, spread the good news always so it can get to those that we need to push the price of Bitcoin into the bull run, especially, large scale institutions.

I fell as well to fomo and rushed the then xmrg moneto gold token on coinexchange.io only to be left red faced
As they ended up as a scam exit and went away with my investments
But I have learnt which is all that matters; learn the lesson, move on and be better than before

Holding on to all the proceeds from mining is the best way I do now as a miner. I believe a bull will be present someday and when that happens we just need to harvest the results from our mining that we have been holding.

Maybe out there many people decide to stop mining because they think that when bearish market conditions like this they do not make any profit except the losses they get because the mining process costs are not balanced with the results of mine. However, I do not recommend such a thing because after all if we are not patient to wait for the right time then the mining results will not be profitable.

You should not rush to buy shitcoin dude. Why you buy monero gold when you are able to buy a real one like monero? Anycoin that called themselves as the fork from the major coin is a scam and mark my words. i hope you can learn from there. Fork coin is a scam.

Mining is still profitable but depending on what types of coin you gonna mined, FOMO are everywhere and it happens to all types of opportunities, but i were you, i should not try if you have a limited amount of knowledge you have, id rather do trading than mining, mining takes time and effort, while trading is somewhat kind of energetic and excitement, but remember, trending is a friend of trading.

I think its still profitable after bitcoin price increase to $5000. But compare 2017, its more profitable for miner in 2017 because bitcoin price above $10k. But it also depends on electricity costs and I think it is still profitable even though it is less than before

I think you're not using the right equipment and not mining the right coin because mining is still very profitable. Maybe you need to sell those devices and research about profitable mining equipment and profitable coins to mine before getting involved again.

What you are saying is true but big miners had the chance of mining during the moment when the market was bullish and probably sold their coins at that moment meaning they have a huge amount of cash in their pockets which they can use to absorb any losses they may have now, but if you began mining just before the market crashed then that means you do not have those cash reserves and it will be way more difficult to keep mining for a loss for long.

This year there were good coins for mining, my rigs has long paid off, if you have inexpensive electricity, you can normally earn. Of the last interesting for example was Zilliqa.

You are NOT alone in this. It happens even to the best of us in this industry. FOMO has to do with emotions and only a few are blessed with the ability of keeping their emotions in check and actually making rational and logical decisions when faced or challenged by their emotions. Watching a coin/token rapidly increasing in price could be massively tempting and that could be a pull too difficult to resist.

Currently mining coins requires large capital but with not so good results, it is only a little profitable if we are lucky to choose the right coins.
so I think it's better to invest because even though they have almost the same risk but more in my opinion it's easier.

we just need to wait for the good news and the coins we have are likely to rise.

Mining is no doubt profitable. It had been something that require a once time cost and then some running cost but the amount of money you make in mining is more than what you spend in mining. During the bulls, miners have great market as their value rise up dramatically. In addition, you just need to be worried about the cost of electricity and a wise mind would now think about some sustainable mining as well.

2018 clearly showed that it is better to get rid of fomo forever.  You can not fall in love with the project, you must always follow your strategy otherwise you will get the money.

After the full year plus dump, one thing I've learnt is waiting the market out as the cycle repeats itself. I fell for FOMO too bought some Alts early April I'm 60% down from my entry.