Should we risk mining bitcoins ?

[zycrypto]

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

[1713576804]

1713576804

[1713576804]

1713576804

[SonOfNorth]

Unless you have massive server farms available, it's not worth it. Look into mining some profitable altcoins, and either exchange those earnings to BTC or just keep holding the alts and hoping their price will rise. You will still need a very powerful computer for mining to be worth it, so if you're like most of use, you're better off just buying your crypto.

[pedrog]

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.

[Kprawn]

How much money do you have to invest into Bitcoin mining? You would be going up against some pretty big heavy weights

with massive mining farms full of ASIC's. If you really want to make some money, I would suggest that you mine some Alt

coin and then sell that for bitcoins. Take your pick of the 1000's that are out there.. but I would personally go for the coins

that are being used the most. {tx volume + low difficulty}  

[cellard]

While mining BTC is out of the question if you are hoping to get any rewards... it is still good that we establish a culture of mining even at a loss. If you want to support BTC, then mining at a loss is better than nothing. Of course, most people can't afford this, but if you have a lot of money, and you have a big BTC investment, you want to help your investment by mining the blockchain yourself. If everyone holding 100+ BTC (for example) did this, the network would be more decentralized. Just take it as if it was a subscription fee for something.

Now if you are a regular guy wanting to make money, mining some alt than then pumps it's still a valid strategy. When I was a noob, I made 0.5 BTC thanks to the big Dogecoin pump. I mined half a million Dogecoin with my AMD 7850 GPU.

[milewilda]

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

It would really be worth it if you do have the money to put on it (Large scale mining) and also consider the price or cost of electricity on your place, it would be much worth if its cheaper because in this case you would really end up on being profitable and reaching ROI in a short period of time. If you do have the money to spend, why not? As long you do know on what you are doing.

[mobnepal]

If you have free electricity or really cheap one than you can consider mining bitcoin still profitable also you have to invest a big sum in initial stage to buy mining hardware to start a mining farm.

Neither electricity is cheap nor I have big bankroll to invest in mining farm, so mining bitcoin is not an option for me.

[iram1011]

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

It largely depends upon which Cryptocurrency you want to mine. Mining Bitcoin isn't worth your time and investment unless you have a huge mining farm or really cheap electricity. Various other cryptocurrencies such as ETH, Zcash, dash etc can be profitable depending upon your hardware and electricity cost.

You can check profitability of mining various coins here
https://www.coinwarz.com/calculators

[masterwakokok7]

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

I think mining is not advisable for us simple users only or to those who cannot have a well decent mining rig. If we look back 2012-2013 that were the best time to mine for Bitcoins since according to my friends who use to mine they can easily earn Bitcoin in a span of a day. Well, as of today before you mine you must evaluate your expense especially Electricity. If you are to mine you need to leave your rig 24/7 to gain your expectations. Electricity would be your first problem above looking for a good mining rig. Bills will definitely cost you a fortune if you don't have enough research or background studies on how to save energy while doing mining.

[khaled0111]

the more you invest, the more you gain. so if you intend to mine you have to choose wisely the cryptocurrency to mine and the hardware to do so.
these days mining is not profitable only if you invest big amount of money.
use this Bitcoin Mining Calculator and Profitability Calculator:
https://www.coinwarz.com/calculators/bitcoin-mining-calculator

[sanforized]

All that is done must have a risk, big or small that we do. Including bitcoin mining, bitcoin mining will have a risk on the Hardware used. If the hardware used to mine is not able to accommodate all transactions then the hardware will be problematic.

[Nathan047]

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

Unfortunately nowadays unless you have a lot of money to invest into your mining farm and cheap electricity it's really not worth it to try mining for a profit.
That is, unless you want to try to mine a new altcoin and hope it increases in value.

[michkima]

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

It really depends on where you live. If you live in a place where the climate is a cold (not freezing) and the price of electricity is one of the lowest in the world, then you have a chance at mining. If not, don't even bother, your profits will get eaten up by the cost of running a miner. It's better to just buy bitcoins and just watch the price go up.

[SONG GEET]

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.

[iram1011]

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.

I doubt if solo mining of Bitcoin is still profitable unless you are an owner of big mining farm. Bitcoin mining today is not at all profitable. Instead of investing in monry and time in mining. Buying Bitcoin through that amount is more profitable in long term.

[CryptosapienZA]

It depends... Mining Bitcoin is profitable for those who can access very cheap electricity and hardware. That is the start. Then you have to find a place to run your hardware. Depending on how large the operation will be? This is another cost. Then you need to know what you are doing, so theres a lot of learning in the process. Good luck!

[unneros]

 You must have a good server, consider the price or cost of electricity and depends on the coin you want to mine ! Mining btc is not recomenned from my opinion . On above all , Electric bill is the one which you would consider most because you don't mine 2-3 hours ! You mine 24/24 ! That's my electric bill in my country ! Electric is expensive ! But if in your country , Electric is cheap , go mine -> mine BTC go because electric is cheap !

[darkangel11]

It depends mainly on 3 things.

1 your electricity cost (if you have your own power source mining could be worth the trouble)
2 amount of money you can spend (the more the better)
3 your location (it would be unwise to start a farm in a dangerous country like some of those in Africa, or in a place where people are poor in general and might want to steal from you)

[pepoaly007]

You have to know that working on the Internet is very dangerous and Bitcoin whatever the degree of protection that surrounds it needs to risk and you should know that well

[grermezter]

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

It's only worth mining bitcoins when you invest lots of money into it, with the high value of the currency now , I think it's really worth mining it and you will able to recoup all the money that you have invested in it as time goes on. But you must take into account the power consumption before you take everything into account.