Should we risk mining bitcoins ?

[DoublerHunter]

Mining bitcoins need a lot of money before you can say that you are making money or getting profits from mining bitcoin because bitcoin has already got a high difficulty and the simple graphics card or computer machines will not able to mine bitcoin anymore and the best thing to mine for me is just go for altcoins like ethereum instead of bitcoin.

[mrcash02]

Mining bitcoins need a lot of money before you can say that you are making money or getting profits from mining bitcoin because bitcoin has already got a high difficulty and the simple graphics card or computer machines will not able to mine bitcoin anymore and the best thing to mine for me is just go for altcoins like ethereum instead of bitcoin.

And not only this, but the electricity costs should be considered too. In many countries it's expensive and worthless if we calculate the proportional profit made. To mine Bitcoins doesn't worth anymore, let this activity for big mining businesses. You may have luck mining AltCoins if its price increase meanwhile or after you mine, but keep in mind it can be a waste of time and effort tooif the currency dies or lose too much its price.

[geniabelty]

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

It's okay to risk in mining if you have a huge mining rigs that can mine for you 24/7. But, if you only have a low class rig then better to look for another way of earning Bitcoin. Your mining earning with a low class rig will not compensate your expense especially your Electricity Bill. For us simple or ordinary people who can't afford a quality mining rig must not engage in such activities. As this could cost us fortune.

[Victorycoin]

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.

For the love of Bitcoin and the community, your proposition isn't a bad one, but I foresee only a few large hearted veterans ever wanting to embark on such a giving back to the society venture especially at a time like this, when the price of Bitcoin is at its ATH. Perhaps a more beneficial approach for the community, would be to break China's dominance of mining hardware. That way overall cost of mining would become reasonable and attractive, anyone willing to mine, would mine. The concern for cost of electricity can always be taken care of with the production of highly efficient machines.

However  and until then, the best choice would be to buy all the Bitcoin you want and hodl, second would be to mine altcoins and subsequent exchange to Bitcoin.

[aakashsangwan]

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

It is worth your money and time as you can check in a mining profitability calculator the break even period of a bitcoin miner is about 4 to 5 months, so it is quiet a good investment per se. And what return we get in the real world per year, 10 to 25% max? See in bitcoin mining you can double or maybe triple your money in same amount of time.

[iqlimasyadiqa]

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

mining has two options, namely cloud mining and mining hardware purchase. For me cloud mining is a system that will destroy your finances. While setting up your own and also buying hardware mining can get you the benefit of mining every time. You just have to buy hardware and also smart to do the mining settings you have. It can affect how much revenue you can make. So not forever mining can be profitable, the right selection will affect how much profit you will get and also how many losses that can be avoided.

[Juggy777]

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

I am not really for minining cause it's often shown that it's very easy to mine a coin and that there are profits
What they don't tell you is that there are costs involved in it. Your electricity bill will go through the roof and you will have a hard time paying that bill off. Secondly you need to have a good amount of hash to keep it going, then if you are lucky you will do it the right way, or you land up at a scam site and its gone. Look mining is possible where electricity rate is low you have a computer that can support kt without getting fried.

[Rajamuda]

Basically mining bitcoin is a good thing to do until earning profit. If the capital is ready and already take into account of all the risks to mine bitcoin, what's wrong done if it will really benefit later. Select a path mining that will actually generate profits and more no risk or no harm. The point is we have to really prepare all that will be in the face until finally can achieve the benefits of the mining.

[johnwest]

The best thing you can do right now is to buy a high-end gaming PC with the best GPU possible and mine the new or potential coins with it. There are many like BSD started some bounties recently and Denarius is also a good choice.

[romani245]

The best thing you can do right now is to buy a high-end gaming PC with the best GPU possible and mine the new or potential coins with it. There are many like BSD started some bounties recently and Denarius is also a good choice.

I'm not going to buy an expensive gaming PC just to burn it out mining crypto. You're better off buying GPUs directly from the manufacturers and building a rig. But I prefer to invest and/or find tasty airdrops instead. GPU rigs are too damn loud and hot, and my girlfriend would probably leave me if I ran them in the house. Especially with the recent heat we've had here...

[JanpriX]

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

I believe you need a large amount of money to start taking profit in mining cryptocurrencies. Aside from that, there are several factors that you need to take into consideration like the price of the mining hardware and electricity where you are planning to put your mining farm. So to answer your question, I think it is not worth it. You could do it as a hobby and do not expect any profit from it. It's better to shift your attention to other things in crypto instead of the one that you stated above.

[winnerhor]

no worth for personal because now the budget for mining bitcoin is too high . Unless you a powerful mining machine but now most of bitcoin mining by company 

[nrvasquez]

I think we can calculate how much we get with the hardware we have. While you have good hardware and it produces well, I think it remains an advantage.

[Doamader]

Bitcoin mining has becamed a game for big players and big investors, if you wanna to buy lets say 10-40 s9 you will be able to make a decent income, but remember you will be into competition with big farmers... but its maybe of the most safest way to invest money, at 2020 we will have halving, soo all your coins now might be worthing twice at those, and if the miners dont crash till there you will be able to roi as well.

[suryati]

I think many factors need to be considered for doing mining bitcoin such as energy source, equipment and the results to be obtained should be taken into account whether the costs incurred in proportion to the results to be achieved and of course mining has a risk if the expected results are not achieved then what about costs have been incurred, so need a good calculation before doing bitcoin mining.

[Mjeramirez]

That would depend on your investment capacity. You need to consider the following things first
1. Cost of electricity- mining bitcoin comsumes a lot of energy, from powering up your hardwares to airconditioning
2. Servers- you need to procure dedicared servers for bitcoin mining which is very costly, personall devices and computer wont do.
3. Physical facilities- surely you need to protect your very costly servers in a secure location
There are internet sites which will give you an initial computation of profitablitity which you can consult.

[singularityisnear]

If your intention is to support the network, this is worth it. But for profit, I don't think so, unless you have great advantages in terms of electricity costs.

[DoublerHunter]

If your intention is to support the network, this is worth it. But for profit, I don't think so, unless you have great advantages in terms of electricity costs.

That is the only thing that can be take advantage of the miners of bitcoin they need a good place where the electricity is very low and because of that they can buy more hardwares for mining and they can get more profit in mining bitcoins because electricity is one of the big deal for almost all the miners so every miners should be wise in choosing a place for their mining farm.

[michellee]

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

mining bitcoin with cloud mining like hashnest or mining bitcoin with hardware? because if we want to mining bitcoin with cloud mining then its not worth. if we want to mining with hardware, then we need big hashrate power to mining because if we only have small hashrate, then its useless. today bitcoin difficulty is increase and need big hashrate to solve the block.

I think maybe its still worth if we trying to mining the altcoin because I am sure that there is many altcoin with low difficulty that we can mining and if we can collected and sell in the high price, I think we can make profit. but still, you need to calculate the electricity fee when you want to mining using hardware.

[zoolz]

in most cases it's better to just buy bitcoin instead of mining.