Who of you still mines "Bitcoin"

[KingScorpio]

by now only the big boys, in iceland or china should be able to mine bitcoin with a profit?

am i right?

pls correct me if i am wrong.

bitcoin has become the coin of the whales, and the big miners

regards

[dodgrad]

by now only the big boys, in iceland or china should be able to mine bitcoin with a profit?

am i right?

pls correct me if i am wrong.

bitcoin has become the coin of the whales, and the big miners

regards

With a Senior Member rank you should know that the profitability of mining depends mainly on the price of electricity. It has nothing to do with whether someone is big or small. Where it is cheap, there people mine. Simple ..

[KingScorpio]

by now only the big boys, in iceland or china should be able to mine bitcoin with a profit?

am i right?

pls correct me if i am wrong.

bitcoin has become the coin of the whales, and the big miners

regards

With a Senior Member rank you should know that the profitability of mining depends mainly on the price of electricity. It has nothing to do with whether someone is big or small. Where it is cheap, there people mine. Simple ..

price of electricity correlates with that, you must have no idea about industrial scale installations, industrial facilities that consume a lot of electricity get the electricity much cheaper,

i dont blame your "hero rank" for this, you might simply have no idea about economy, and industry unlike me

[capitan_rocotan]

Does this make any sense? It is too expensive and hardly pays off. If you do this, then only on a very large scale, using vast capacities and territories. In addition, it is desirable to do this in those countries where there is a possibility for this. For example, electricity is very expensive when you have huge power. Therefore, it is better not to do this if you decide to try just now.

[KingScorpio]

Does this make any sense? It is too expensive and hardly pays off. If you do this, then only on a very large scale, using vast capacities and territories. In addition, it is desirable to do this in those countries where there is a possibility for this. For example, electricity is very expensive when you have huge power. Therefore, it is better not to do this if you decide to try just now.

no each kwh becomes cheaper the more electricity you buy. thats how it works. in the economy, big customers are priviliged.

[dodgrad]

by now only the big boys, in iceland or china should be able to mine bitcoin with a profit?

am i right?

pls correct me if i am wrong.

bitcoin has become the coin of the whales, and the big miners

regards

With a Senior Member rank you should know that the profitability of mining depends mainly on the price of electricity. It has nothing to do with whether someone is big or small. Where it is cheap, there people mine. Simple ..

price of electricity correlates with that, you must have no idea about industrial scale installations, industrial facilities that consume a lot of electricity get the electricity much cheaper,

i dont blame your "hero rank" for this, you might simply have no idea about economy, and industry unlike me

You was talking that now only "big boys" can mine with profit.. Why little boys can't do that? But if investition of $10k makes someone "big minner", you have right, it is profitable only for "big boys".

Edit/
I agree that more power someone buy, have it cheaper, but in many places price of electricity is cheap enough to make mining profitable even for "little bouys"

[dupee419]

The people who are still mining BTC right now are the peoole who have the equipment to mine, they can't let it go to waste since it would be crappy if they do not let it function or else it will be useless, and I see little companies that are actually mining with minimal equipment on them so I don't think that Big Boys are the only ones that are running everything here.

[KingScorpio]

how decentral and safe is bitcoin now then if now only the big boys in iceland and china mine it?

[St4yInTh3D4rk]

how decentral and safe is bitcoin now then if now only the big boys in iceland and china mine it?

Mining can be done by anyone,the people from the countries can able to mine bitcoins for now with profits but it doesn't mean they have the control of all the bitcoin miners.

The decentralized can be broken when they reach 51% but as per the statistics the current percentage reach is 18% still long way to go.

[raidarksword]

With the high cost of hardware maintenance and electricity in mining bitcoin it is safe to say that it is not profitable anymore in my opinion. But it still give credits to miners that are still active on that field because they have a great significance in the blockchain operations.

[hubballi]

In my country the price of electricity is divided in 2 commercial and residential. If you buy in commercial the price is fixed for minimum and their is no change in pricing even if you buy more power. So if anyone is using electricity through residential connection can get profit. But still it is not cheap so mining in my country is loss. better buy in current market and invest for long term which will be more profitable and less tension.