Should we risk mining bitcoins ?

[wxa7115]

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

Forget it unless you are a millionaire with expertise on the filed and access to cheap electricity, if you want to mine then the only option are altcoins, and there are two strategies for that you mine profitable altcoins, or you mine an altcoin that may not be profitable now but that you think the tokens are going to be a lot more valuable in the future.

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[ss890]

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

There are few things to cover before you invest into mining. The very first thing is what are you referring to? Is it hardware mining or cloud mining you talking about ? If it's cloud mining then obviously its big no. But if you considering the hard ware mining then you have got great chances of earning big profits. However in hardware mining also you have to consider few things that is electricity cost, how much miners you have, what is the cooling system in place etc, these factors will work all together to tell you whether it's profitable or not.

[ramsdaj28]

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

Well, as of now, around 16M bitcoins have already been mined. Meaning, there are only around 5M bitcoins left to be mined. If you're planning to build a crypto mining rig, I preferred to mine altcoins, preferably litecoins and ethereum, because those two have high value (next to bitcoins, I think), and will be good for a longer time.

[Gabz999]

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

Forget it unless you are a millionaire with expertise on the filed and access to cheap electricity, if you want to mine then the only option are altcoins, and there are two strategies for that you mine profitable altcoins, or you mine an altcoin that may not be profitable now but that you think the tokens are goinsg to be a lot more valuable in the future.

 Yeah its right ! These days its not advsible to mine a bitcoin cause every day the difficulty is increasing. Its better for you if you want to expirience how to mine go with eimning some other altcoins that are low in difficulty and sell it to bitcoin (just in case you want to expirience mining).

[AK47-]

You shouldn't risk your investment in mining Bitcoin unless you plan to have a huge mining farm. Else Bitcoin mining is not at all profitable. Rather that money if used for buying Bitcoin, will give huge profit. So, invest wisely and always analyze whether you have a better and safer option to put your money into before investing in anything.

[Golftech]

You shouldn't risk your investment in mining Bitcoin unless you plan to have a huge mining farm. Else Bitcoin mining is not at all profitable. Rather that money if used for buying Bitcoin, will give huge profit. So, invest wisely and always analyze whether you have a better and safer option to put your money into before investing in anything.

Its always to take some guts before you enter any business as we knew that if we are looking for opportunity and we are looking for long term investment mining can also be considered as a good way to earn and we can always hold even in a small fractions that we mined still can bring fortune in the long years,.

[hua_hui]

The risk i can forsee is that the price of mining outweigh the amount of value of bitcoin you receive. At this point of time, the difficulties for mining bitcoin is so high that you may get like a few cent of btc for mining a whole month. The electricity bill can easily cost more than that. It would be wise to just buy btc directly and keep it. However, if you have free electricity, you can consider getting the right equipment.

[xbugitox]

If you ask me, it's better to mine LTC or ETH now, those two can be profitable in the future same as bitcoin.

[phr0stbyt3]

There isn't any risk if you have cheap electricity and you are using the right equipment don't go mining in your computer and expect to get profit , even if you are able to get your computer will slowly die as mining will suck up your processors and after sometime it may not work like it has to too. For miners check out bitman they claim to have the most efficient miners

[Azkabal]

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

Well its still worse, but only with a big investments. Also farms takes much space so in the regular little appartment it is not very suitable But with some time and real plan it can be very profitable.

[Carlsen]

When somebody starts mining, he has to calculate everything through at first.
Electricity costs, hardware costs, expected price of bitcoin.
Don't forget that there will be some downtime of the hardware for multiple reasons as well.
If that numbers seem to be profitable, than nothing speaks against a try.
When you are not happy with the outcome, you will always be able to sell the mining equipment again. It's not gonny be a total loss.

[DoublerHunter]

When somebody starts mining, he has to calculate everything through at first.
Electricity costs, hardware costs, expected price of bitcoin.
Don't forget that there will be some downtime of the hardware for multiple reasons as well.
If that numbers seem to be profitable, than nothing speaks against a try.
When you are not happy with the outcome, you will always be able to sell the mining equipment again. It's not gonny be a total loss.

Mining is risky and even the numbers doesn't show any negative profit then there is still a high risk for your mining rig like the lifespan of your equipment, since it is always been maxed out then there is no assurance that it gonna stay for long so as long as the capital is not get fully back from your investment then you money is on a high risk.

[BitcoinsGreat]

Not less you got the power of one of these Farms. There is no way anytime soon or anytime in the past two years if it's been cost-effective for an individual to mine Bitcoins. All you're going to do is lose money when there's plenty of other coins to mine.

[Voice-Of-Reason]

not worth atm, too many big farmers, electric bill too expensive, maybe check alts, hope to get luck on the choice you make

[usman.temuri]

not worth atm, too many big farmers, electric bill too expensive, maybe check alts, hope to get luck on the choice you make

 I don't think, Just saving the things like electric to reduce expensive bills.

[bdog1234]

So much wrong information in this thread.

Mining on any scale can be profitable if you have reasonable power costs.

You join a mining pool and are not so much competing with the big farms rather you are working with them.

The big farms mostly have antminer S9's. Hundreds or thousands of them. You can buy one exactly like theirs and make the same profit per unit. I don't know the exact number I think it's around $12 per day profit per miner. Having a few in your garage isn't going to make you rich or allow you to quit your job but it is profitable.

[streazight]

If you ask me, it's better to mine LTC or ETH now, those two can be profitable in the future same as bitcoin.

I won't agree with you on this point. BCC is far better than ETH and LTC and if someone is going for mining, that means he will be using a lot of electricity and other resources because you need a good hardware with high processing speed, utilizing these much resources must at least produce a good result and only bitcoins can give huge profits.

[fiomcorka]

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

There is no risk in mining the only obstacle might be low profits at the end, the major problems associated with mining is just high power consumption and bills piling up at the same time, those are the things to consider before mining.

[Bakemat]

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.

in everything there is a risk in everything no matter what it will  be, so take a risk, it can help us to improve ourself and it can help us also to be more productive and wise by the next time we can a challenge in some problem in we may encounter in our daily lives, so take a risk a be brave enough to face it everyday.

[zergenyt09]

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

Mining bitcoin is not a risk, it is only expensive to start up and consumes a lot of electricity and also produces much heat, that is why most people would prefer stockpiling bitcoin rather than mining it.