Should we risk mining bitcoins ?

[eaLiTy]

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed     

In short you need to have a very large investment in order to start mining bitcoin and i would say it is better to purchase the coin rather than mining bitcoin,but you can look at alt coins to mine ,why do you think that India does not give permission for mining as i do know some fellow peers that mine in India and i am not aware of any ban.

[StonedWolf]

I think mining another altcoin is better absolutely, in this moment of course, because nowadays the cost of bitcoin's mining is very high. As a result, you better risk the value elevation of an altcoin better than risk mining bitcoin, the first choice is more profitable in my opinion.
Otherwise, we could try another way to make money through Bitcointalk like gambling, investing or trading.

[Belkaa]

Is mining dead?  No it's not! Mining returned to its normal state. In early 2017, the payback of the farm was from one to a half and there were many miners. In May, when it was growing, it was reduced to 3 months! Then the boom began, the lack of video cards.

To date, the lack of video cards has disappeared. Prices fell a bit, but still bite. Of course, gamers were affected, and of course freeloaders. Freeloaders bought a lot of cards at cloud prices, and when the payback at the old price returned for a year, they have become more. They want to earn millions without realizing that the payback year is good in any business. And now they can not sell them. Mining falls they say. No, mine does not have a fall, the price of the crypto currency has fallen, it has not even fallen, but returned to its normal state. Profitability and forecasts of mining, about profitability I will say that it is profitable! But about predictions you can guess a little, but according to my calculation everything will be fine. When will the mining end? no one knows, but not soon

[Capt00]

I think mining another altcoin is better absolutely, in this moment of course, because nowadays the cost of bitcoin mining is very high also its value.
As a result, you better risk the value elevation value of an altcoin is more profitable.

You right, though it is risky but we don't have any chioce. But believing our self everything will be fine and if we can manage to handle the risk, then it is much better. Looking forwars and be positive always because everything will be possible if we just work on.

[InBTC4years]

If you invest into cloud mining contracts than you might loss all your investment but if you can afford to run mining hardware by yourself than you can make a good profit in long term by both mining bitcoin yourself or offering your mining power for others through nicehash and miningrigrentals.

How is contract investing more risky? I've always avoided that but have also always been interested - just didn't trust them enough to try them.

[InBTC4years]

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed     

In short you need to have a very large investment in order to start mining bitcoin and i would say it is better to purchase the coin rather than mining bitcoin,but you can look at alt coins to mine ,why do you think that India does not give permission for mining as i do know some fellow peers that mine in India and i am not aware of any ban.

I am not sure about India's laws either, but I read an article last week that basically said India has not made any ruling on Bitcoin because as with a lot of new ideas, India likes to wait and see first. But again, I don't pay much attention to reading about India law.

[szpalata]

We can mine bitcoin also but what about resources you should have proper hardware, electricity and infrastructure all at cheap price than only you think and that also not of btc but alt coins more over government permission is main thing in india its not allowed     

In short you need to have a very large investment in order to start mining bitcoin and i would say it is better to purchase the coin rather than mining bitcoin,but you can look at alt coins to mine ,why do you think that India does not give permission for mining as i do know some fellow peers that mine in India and i am not aware of any ban.

I am not sure about India's laws either, but I read an article last week that basically said India has not made any ruling on Bitcoin because as with a lot of new ideas, India likes to wait and see first. But again, I don't pay much attention to reading about India law.

 I think you should consider profitability first before you go into laws because if you are not going to turn in profit with your mining then its better not to risk a beef with the government. I think any serious miner in our times will consider going to china and not India.

[batang_bitcoin]

Mining is a way to produce any new type of cryptocurrency. And in bitcoin, it's a way to confirm our transactions so there should be people who are mining to get profit while helping us with our transactions to get confirmed. The risk maybe that OP is talking is about the high electricity and volatility of the hardware, taking care of it is an easy thing if you have set up your farm properly.

[Henry27]

I do not see any risk in bitcoin. Especially not you, but China for the most part. You can risk only if you buy it. And if there is such a question about risk, then do not buy.

[BlackRacerX]

With today's bitcoin prices, maybe it is viable, but as for me, I wouldn't risk mining bitcoins now because how much the electricity costs in our country and how much a mining PC or an ant miner is. The thing is, the electricity bill and maintenance plus the inital cost would be too much for a proper bitcoin investment.

[Nilda]

Mining is my main objective. Part of my profits from trading are being set aside to finance a basic mining rig. Worst cast scenario, I have a kickass gaming rig.

[Blockgraham]

Do you mean mining illegally?) Seriously, I don't think it's worth doing. Unless you are wealthy enough to make a mining farm. Instead, why not speculate on BTC rate? Right now seems to be quite safe.

[lemonscentedbreeze]

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

It is worth it if you are able to create an efficient mining farm which usually takes a lot of resources and effort, but if you are planning to join and invest in mining pools then I would say it is somewhat risky after hearing what happened to nice hash, where they said they were attacked by hackers which makes all of its investors lose their money I suggest it is better to mine individually if you can.

[7Pro]

If you are able to buy hardware cheap, have a space to run the hardware and really cheap electricity, you can start doing the math.

There are a lot of coins out there, major ones already have ASICs and they all made in China, you need to add that into account because you might need to pay taxes when you receive it.

I think really cheap electricity is most important if you want run the mining. And make sure you have the skill too.

[Hobo66]

Without mining bitcoin it would be a problem in the bitcoin network,
so I have been told. On the other hand I dont like mining bitcoin manually
it cost too much electricity expense, I would rather do could mining from legit company.

[Rourad08]

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

solo mining is so risky and can destroy all your money "Better to invest in bitcoin"
So do not be enthusiastic and risky in solo mining, it is better to calculate the cash level, profits and losses, especially since havling will be within 3 years.
So if the electricity is cheap, the weather is cold, and you can mine in groups and you want to take a risk, do it.
group mining is good if you have knowledge and low fee power supply

[gulshan1]

Bitcoin mining is not good now because difficulty level is increasing day by day and expense on bitcoin mining is increasing but very less rewards is getting from mining. There is so many opportunity in the market to get the profit and invest in the market for long time.

[bs9]

i will love to hear opinions from everyone, do you think its worth it? should we risk mining the cryptocurrency ?

You can start cloud mining but i heard this mining only.I am not sure you need help google or any miner so post this thread and get your answer https://bitcointalk.org/index.php?board=14.0

[ahoenk]

Dont do cloud mining. If you want really to be a miner you need to prepare the infratructure and for now mining bitcoin will cost you a lot of moneybin front. But it is safest way then u throw ur money to cloud mining.almost all cloud mining will be scam or using ponzi scheme.

[PLAYSE2]

Nowadays it is only possible to mine bitcoin with specific machines dedicated to industries, due to the difficulty of mining, the way is to go to the Altcoins.