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Author Topic: Is bitcoin mining dangerous?  (Read 11401 times)
Raffy11
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September 18, 2017, 03:40:55 AM
 #1

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
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September 18, 2017, 05:01:30 AM
 #2

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

What kind of "hazard" you mean? Harmful to environment or health, or ROI?
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September 18, 2017, 07:38:18 AM
 #3

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is done using specialized mining hardware. Think of them as high-powered, industrial PCs which can only be used for Bitcoin mining and nothing else.

So what is there to look out for if you're a miner?

1) Financial risk, ie. the Bitcoin network grows faster than you expected, so you don't mine enough to get the money back you paid for the machine.

2) Physical risk, ie. if the mining hardware doesn't get properly cooled or the location where you mine at has bad wiring there's a certain fire hazard.


What is there to know for the general populace?

3) Impact on the environment, ie. the whole of the Bitcoin network uses a lot of electrical energy.


Does this answer your question?

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September 18, 2017, 08:35:42 AM
 #4

It also speeds up the creation of electronic messes to the earth, far from Moore's law.
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September 18, 2017, 10:29:29 AM
 #5

It also speeds up the creation of electronic messes to the earth, far from Moore's law.

Moore's law says nothing about how many electronic devices are used on earth Smiley Also while the electricity consumption of the Bitcoin network is non-negligible I'm fairly confident that the amount of created mining hardware is still dwarfed by consumer devices.

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September 18, 2017, 10:49:06 AM
 #6

Yes it can be dangerous if u use old equipment
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September 18, 2017, 03:01:31 PM
 #7

Yes it can be dangerous if u use old equipment

Uh..please elaborate? Due to what?

Electronic devices tends to work for years before they get faulty, and If they get faulty its often just mechanical parts that break and can be replaced (fans).
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September 18, 2017, 03:05:13 PM
 #8

Maybe OP is referring to Electrical radiation, which, of course comes from most electrical items if unshielded, I suppose with a huge mining farm, there would be some heightened radiation, this could affent those who suffer from EHS (not that this bothers or affects the outlay of 'smart' electrical meters..)

https://en.wikipedia.org/wiki/Electromagnetic_hypersensitivity

So yes, mining CAN be dangerous.
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September 18, 2017, 03:46:31 PM
 #9

Mining bitcoin is not dangerous and you just need to have large capital to go into it. I lean everything about bitcoin including mining from https://www.coindesk.com/information/ from this link all you need to know about bitcoin and cryptocurrency related issues are published hear.

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September 18, 2017, 04:19:37 PM
 #10

Bitcoin mining is absolutely safe.
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September 18, 2017, 04:46:53 PM
 #11

i think mining is safe..it will be difficult but its safe
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September 18, 2017, 06:34:22 PM
 #12

Mining bitcoin is not dangerous and you just need to have large capital to go into it. I lean everything about bitcoin including mining from https://www.coindesk.com/information/ from this link all you need to know about bitcoin and cryptocurrency related issues are published hear.
.

Bitcoin mining the safest and profitable one .I had ever see.If you start to do the mining with solar panels means,you no need to worry about the Electricity need for Mining. Many people worry about the cost for Electricity which thinking about mining. It's the best business.If you had a doubt means,you can see coin disc.

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September 18, 2017, 06:48:30 PM
 #13

Don'tcha just love it when a newb posts an off-the-wall question apparently just start a convo and then they disappear?
Yes it is dangerous. The OP should definitely stay away from it or at least beware of cave-ins and market crashes... Tongue

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
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September 18, 2017, 08:44:31 PM
 #14

Only as dangerous as using any electrical appliance really!! (actually probably safer than a kettle or a microwave lol)

If you can't be trusted with electric then stay away from mining!!

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September 18, 2017, 11:19:35 PM
 #15

the heat can be dangerous if you don't take the proper safety precautions

Like venting the heat and maybe sure noting can catch on fire cooling is important

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September 19, 2017, 05:41:52 AM
 #16

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
do bitcoin mining is solve every bitcoin block computerized and everytime we can do it then we can get bitcoin. doing mining is currently not profitable because of the higher difficulty makes the block more difficult to solve and operational costs in mining is also not cheap. but if bitcoin prices can increase this certainly will not be a problem, so if our range is the future then I think this is quite profitable. but if you want a profit, at this time I think doing mining is quite dangerous because we could lose.

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September 19, 2017, 09:26:08 AM
 #17

lol Sometimes you have to think like the common person.  Mining is dangerous without electrical knowledge.   You don't just buy equipment and plug even if you know max is 1800 watts or 2400 watts.   There are a few things we learn before we got into mining.  

I hope people research into basic electrical before going with the mining path.  One rule is 80% load on the wires.  Thickness of the in-wall cables.  You don't just replace 120v 15a circuit breaker and outlets with a 240v 15a.   Cables may go overheat if your not careful.
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September 19, 2017, 09:46:56 AM
 #18

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is nothing but it is the process by which transactions are checked and verified and then they are carried to the public ledger, which is known as Block Chain and you can say it is the mode of transfer through which new bitcoins are released. If you have access to the internet and good piece of hardware then you can participate in mining.Mining Need high amount of Electricity and for that You need to invest in renewable energy as consumption of electricity which is very high. You’re taking a huge risk and You need huge Intial investment for that. And by the way here no matter what isto be done, but you need to secure your coins at any cost. It is done around a safe environment and therefore Mining bitcoins will be harmful in future If Bitcoin mining Gets high importance from the people.

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September 19, 2017, 09:47:48 AM
 #19

Is as dangerous, as working PC. But imagine if there is more than one. Thats it
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September 19, 2017, 12:31:03 PM
 #20

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

What kind of "hazard" you mean? Harmful to environment or health, or ROI?
I do like to ask to on what he mean since there are lots of thing which can be considered as hazard on bitcoin mining.Choices are either on government issues,Roi issues and more. Please do elaborate even more so that we can able to answer you correctly.If you do mean about on operating mining on your country then it would depend if bitcoin mining is prohibited on your place but most likely theres no regulation behind this which means i can say its safe to ming as you wanted as long you do have the funds on buying miners.Another dangerous thing on which you wont able to make profit depending on the electricity cost and the rising difficulty.

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September 19, 2017, 12:53:04 PM
 #21

Considering the OP has not posted/replied here I'd just let this stupid thread die a quiet death.

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
-For bitcoin to succeed the community must police itself.
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September 19, 2017, 03:19:48 PM
 #22

In the past I tried to mine with my ordinary pc. It was going to burn because of overheating. Since then I don't do mining. I hear people use special hardware for mining.

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September 19, 2017, 04:18:15 PM
 #23

Considering the OP has not posted/replied here I'd just let this stupid thread die a quiet death.

He might not be a active member in this forum. You just give you wish with the reference or correct information I hope that is enough that can do.
I does not think that bitcoin miners are dangerous to use, still many ask avoid mining using laptop for GPU  mining. However, you people can mine using multiple graphics cards with the proper set up.

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September 19, 2017, 05:08:20 PM
 #24

You have to be careful with the electricity and do not use obsolete hardware.
Everything should be properly connected
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September 20, 2017, 12:04:34 PM
 #25

Hello, bitcoin it is not dangerous because this is legit not illegal

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September 20, 2017, 12:23:18 PM
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May ask you what is different of coins.ph on blockchain?

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September 20, 2017, 12:43:14 PM
 #27

Bitcoin mining is not dangerous. But most beginners think that to stick the equipment to the miners in the socket and the coins will flow. This is not so. There is no easy money. In order to get coins you need to invest a lot of money and provide equipment.

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September 20, 2017, 05:11:05 PM
 #28

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

I don't see any harmful thing in mining. Neither i heard anything about harmful thing with mining. For me its safest way to earn side income. The reason i am saying this because if you high speed computers and cheap electricity you can mine bitcoin and altcoins and there is no chances of being scammed etc. The only thing to consider is the electricity cost which most of the time make it unfeasible.

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September 20, 2017, 06:12:45 PM
 #29

Related thread Cheesy

https://bitcointalk.org/index.php?topic=2192355.0
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September 21, 2017, 04:36:07 AM
 #30

I think mining is not dangerous for us one person. But if every person in the world are mining, then the earth will become more hot.
I think we should think about more solution for the global warming. Mining is good, but it can destroy the earth for several years.
Not just mining of course, but we should start thinking and searching for solution about it.

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September 21, 2017, 06:33:41 AM
 #31

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
Its nothing like dangerous no chemicals or biological toxics are involved in it. But its somewhat dangerous for your processor and hardware. If it has to run 24x7 non stop at its maximum potential it might just make it wear quite early. Financial risk related to less returs is also dangerous. Apart from that I dont think its risky.

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September 22, 2017, 09:19:44 PM
 #32

What you mean dangerous? yes Bitcoin hardware can harm you when you wet and your touch the electricity  Grin , just kidding.
mining bitcoin is not dangerous for you at all , its just like using your computer.
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September 22, 2017, 11:07:07 PM
 #33

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

If you want to know more about bitcoin mining you should do your own research, learn to read articles anything related to bitcoin mining and watch videos that can give you a sight on how bitcoin mining is done. I can't see any danger in bitcoin mining if you are a strong believer of bitcoin, are you worried of global warming or sort of that stuff because of the heat that it provides when operated?

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September 24, 2017, 02:20:36 AM
 #34

And if that is dangerous it could be because we can sometimes experience big profits or losses I just give advice if you want to do mining should find more information as much as possible first so there is no difficulty in running it later. If it is still early try Capital that is issued relatively small first.

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September 24, 2017, 11:50:28 AM
 #35

For me, it is not dangerous. It is just to risky when you were in the mining. Because it takes a big capital or investment. And your not sure if you will get your investment back.

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September 30, 2017, 04:40:31 PM
 #36

According to my view of angle mining is not dangerous but its hard to achieve due to high cost of mining machines. But cloud mining is a risky job & not guarantied.

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October 01, 2017, 07:11:33 AM
 #37

It is possible to damage your computer by mining in the following ways:
- The computer will degrade more, as it is used more (you will have to replace it sooner than normally)
- The computer will overheat and some components will fail because of that (if for example, the computer is dusty. If the parts are well-maintained and the computer is not boxed in, this shouldn't be the issue)
- You will overload some part of your computer with the mining and it will short circuit or blow a fuse (mostly relevant if your power supply is weak, this happened to me once)
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October 01, 2017, 10:32:26 AM
 #38

What do you mean by dangerous? I think the most appropriate word is risky.

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October 01, 2017, 11:02:54 AM
 #39

If you choose the right computer there is nothing threat when mining will occur. In case of any short circuit disconnects the electricity supply. The worst that can happen is your equipment overheating and failure. I have mined coins and I have nothing ever happened.



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October 01, 2017, 02:36:37 PM
 #40

No, there is nothing dangerous for Bitcoin mining. But you need a powerful desktop and hardware. And you must care about air ventilation for your Bitcoin mining room. So air will be fresh and your mining tools will not hot. Don't worry about hot. Just take it easy. Because mining tools will run continue. So it's need enough air ventilation.

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October 01, 2017, 03:04:42 PM
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No, there is nothing dangerous for Bitcoin mining. But you need a powerful desktop and hardware. And you must care about air ventilation for your Bitcoin mining room. So air will be fresh and your mining tools will not hot. Don't worry about hot. Just take it easy. Because mining tools will run continue. So it's need enough air ventilation.

Ya right. Their is nothing wrong with the bitcoin Mining. If you have plan to earn a lot with bitcoin. Or lot of bitcoin. You may check with the mining and trading. You can choose the Solar panels for mining. Many will worry about the Electricity bill. So you can proceed with solar panels for Electricity to get huge profit.

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October 03, 2017, 04:43:36 AM
 #42

every work is dangerous if you are not completing their safety elements if they needed. just like that bitcoin mining is also dangerous only if you not complete their safety elements like for mining bitcoins you need a power full desktop and hardware and mining of bitcoin is continuously due to which these devices need a ventilation or an environment in which there temperature not increasing too much or decreasing too much that these devices stop working.

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October 03, 2017, 04:06:50 PM
 #43

Not as it is now.

But can be if you do not take your precautions of protecting your coins and equipment from thieves.



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October 03, 2017, 04:46:48 PM
 #44

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Well for one, it can be argued on both ways.

It can be really good if the profit has increased substantially because of the number of Bitcoin transactions that accumulate through time. This can be attained once Bitcoin investors increase in number and thus higher mining fees can be charged to them considering the ratio of Bitcoin transactions to that of Bitcoin miners. In this situation, there is low bargaining power on the Bitcoin investors' end. On the other hand, it can really be dangerous once Bitcoin investors have poured so much money for mining operations but then actual business transactions reveal the need for mining is really not a necessity for their day to day operations. In this situation, there is high bargaining power on Bitcoin investors' end. There you go.   

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October 04, 2017, 12:27:41 PM
 #45

It is possible to damage your computer by mining in the following ways:
- The computer will degrade more, as it is used more (you will have to replace it sooner than normally)
- The computer will overheat and some components will fail because of that (if for example, the computer is dusty. If the parts are well-maintained and the computer is not boxed in, this shouldn't be the issue)
- You will overload some part of your computer with the mining and it will short circuit or blow a fuse (mostly relevant if your power supply is weak, this happened to me once)
I don’t think that mining is dangerous. As mining only let some network to use your system as they can. But at the very same time it is dangerous too because those network can use your system as they want to which means that it can also be used for some bad purpose.
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October 04, 2017, 01:27:13 PM
 #46

Its not dangerous at all, well it may be if your country considers it as something that is illegal.bitcoin mining can be done through PC and that you should consider having high quality specs and rigs that is needed for mining bitcoins. Mining can be costly especially when it comes to your electric bill, you should be highly knowledgable about this kinds of stuff because one wrong move can cost you so much of what you worked hard for because there are instances that you'll PC will overheat from all the mining.

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October 04, 2017, 02:13:34 PM
 #47

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Why would it be dangerous? There is no harm in mining. It's just clean business with your hardware solving the blocks and confirming the transaction over the blockchain for which you get rewarded in the form of bitcoin and in altcoin if you are mining that one.

I'm not sure what's really bothering you but I'm guessing it's about the money? Well there is big investment involved into bitcoin mining. There is no compromise in that because people are willing to pay the money for hardware costing and do the mining, its business of rich mostly. (Now a days).



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October 05, 2017, 01:31:57 AM
 #48

Bitcoin have good development in its value in the market, there are many people are invested for it with an expectations that bitcoin will make them successful in investing with it. So if we are talking about the danger of the bitcoin, there are so many risk that we may encounter earning it or mining it, for the miners, they will need more energy consumption and expenses for having a high end computer to be able to mine bitcoin, for the investors, we have to understand that there is no government that holds the bitcoin, no bank treasury or gold that made the investors security in investing bitcoin. Well still bitcoin are continuous its growing in the market because many people are taking all of the risk and their faith in bitcoin.
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October 05, 2017, 11:44:52 AM
 #49

No, there is nothing dangerous for Bitcoin mining. But you need a powerful desktop and hardware. And you must care about air ventilation for your Bitcoin mining room. So air will be fresh and your mining tools will not hot. Don't worry about hot. Just take it easy. Because mining tools will run continue. So it's need enough air ventilation.

Ya right. Their is nothing wrong with the bitcoin Mining. If you have plan to earn a lot with bitcoin. Or lot of bitcoin. You may check with the mining and trading. You can choose the Solar panels for mining. Many will worry about the Electricity bill. So you can proceed with solar panels for Electricity to get huge profit.
I have never really tried mining using a solar panel, but considering the cost and what it will take you to mine something tangible, such setup may really be very expensive to set up, not even to talk about the cost of maintenance.
From the look of things, I feel it is better when you mine with usual electricity as long as you are in a country with a low rate, which would make it more fun.

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October 05, 2017, 12:46:06 PM
 #50

learnt so much on this post...Did not know the dangers of mining.

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October 05, 2017, 01:08:16 PM
 #51

Bitcoin have good development in its value in the market, there are many people are invested for it with an expectations that bitcoin will make them successful in investing with it. So if we are talking about the danger of the bitcoin, there are so many risk that we may encounter earning it or mining it, for the miners, they will need more energy consumption and expenses for having a high end computer to be able to mine bitcoin, for the investors, we have to understand that there is no government that holds the bitcoin, no bank treasury or gold that made the investors security in investing bitcoin. Well still bitcoin are continuous its growing in the market because many people are taking all of the risk and their faith in bitcoin.

the miners dare to take all the risks that exist. because bitcoin has good prospects. in every day bitcoin in mine with. and this shows that bitcoin will be a precious money in a new era, all this happens along with the growth era in the modern era who want to be very practical

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October 05, 2017, 03:03:47 PM
 #52

Bitcoin mining becomes dangerous if you dont use proper ventilation because it become hotter so fast.so better make sure that you will ventilate mining to prevent fire
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October 06, 2017, 06:12:05 AM
 #53

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

If you're using low PC like Pentium 4 or D with low processor it can harm for your computer. Because mining required high quality Graphics card  and fast processor and good PC. Even if you have all these and you start to do bitcoin mining, I don't think you can get any good results other than waste of electricity and power. Bitcoin mining is no longer a one man one pc job.

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October 06, 2017, 12:50:04 PM
 #54

Bitcoin is a peer-to-peer technology operate
with no central authority or banks and it's control by it users. Central of countries decide when to print and distribute money but bitcoin doesn't have a central authority.
To answer your question. Bitcoin miners play an important role in the bitcoin network because they confirm waiting transactions by
including them in the block chain and they also generate new bitcoin into the capital market.

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October 06, 2017, 03:10:27 PM
 #55

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

If you're using low PC like Pentium 4 or D with low processor it can harm for your computer. Because mining required high quality Graphics card  and fast processor and good PC. Even if you have all these and you start to do bitcoin mining, I don't think you can get any good results other than waste of electricity and power. Bitcoin mining is no longer a one man one pc job.

Indeed it is depend on our device, if your device such as personal computer has a low performance then mining could be harm for your computer since bitcoin mining is requiring a high performance processor. Performance of your device is necessary because in mining your computer is open 24/7.

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October 06, 2017, 07:45:11 PM
 #56

It could be dangerous if money terrifies you  Grin
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October 06, 2017, 08:14:31 PM
 #57

it depends on how you will use your component. Mining is dangerous when you're away and if malfunction occurs it will be more dangerous so we should pay attention more or let your friend take care of it!

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October 06, 2017, 10:18:34 PM
 #58

Mining is safe, if you mean dangerous as in loss of $ then make sure you are profiting more than cost of electricity and you should be fine

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October 07, 2017, 07:52:23 AM
 #59

learnt so much on this post...Did not know the dangers of mining.
The danger in mining is not getting the right gadgets or not finding the right information before going ahead to mine. Mining consumes a lot of electricity and generates a lot of heat so you might want to consider that as well. Once you have a good place, with low electricity and considerable good temperature, mining is a good way to invest.

Always, make your research, know how you want to go about your mining process as you do not necessarily have to mine only bitcoin since there are some altcoins you can mine and get something tangible from it.

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October 07, 2017, 09:14:33 AM
 #60

No its not dangerous, it is a process through which transactions are verified and the add to the public ledger, called block chain.Anyone can participate in it.

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October 07, 2017, 11:12:54 AM
 #61

Not as it is now.

But can be if you do not take your precautions of protecting your coins and equipment from thieves.
Every investment comes with a risk but that does not mean it is dangerous. However, with respect to taking precautions of protecting the coins does not have anything to do with mining. That has to do with the owner of the coins and how secured the wallet is. Although, with security, it is normally not even ideal to have a huge mining rig setup in an unsecured environment, even though you might think it is hard for someone to come and steal your mining gadgets.


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October 07, 2017, 11:47:16 AM
 #62

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

i dont think it is dangerous unless your using an old equipments like psu, cpu , hardwares. because it may cause an electeical shock and worst it could lead to burning or fire if your not careless enough to check the status of what you are doing. so i guess its better to buy qualified product to ensure your safety.

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October 07, 2017, 02:56:42 PM
 #63

How would it be? There is no profit there anymore, and some forms of mining can stress a computer pretty good, but as long as you were responsible when getting the software, then there is nothing that can happen that is bad.



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October 08, 2017, 03:37:25 AM
 #64

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

it think it depends, if your a small miner and only using your pc to mine bitcoins then its totally safe but if your mining with many hardwares or a mining farm then its probably dangerous if you had a less knowledge on elecetricity because it might lead to overloading or short circuits and can cause overheating or fire.

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October 08, 2017, 03:49:49 AM
 #65

everything is dangerous so what others always say be ready for the loss,
its always a gamble everytime there is a money
be willing to loss money but dont ever came to think to sell everything just for mining a coin,
and make your family worse, so always do it with caution
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October 08, 2017, 03:57:54 AM
 #66

It's not dangerous but all country does not give the permission like in Bangladesh its totally prohibited by the law of the government but most of the country had accepted it but u need to have a vest knowledge about it if u want to min bitcoin.
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October 08, 2017, 04:09:51 AM
 #67

The coolest online store that I once met https: //asic-minerworld.
A very large selection of products at affordable prices.
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October 08, 2017, 06:29:29 PM
 #68

The coolest online store that I once met https: //asic-minerworld.
A very large selection of products at affordable prices.

Not yet bitcoin mining is the important for the networking process and counting so it will get more profit. If you use the bitcoin mining you will know the how the process, how to handle and how to tack the reading for the mining process. It will give more opportunities and more information in the future process. Mining is future internet process knitting 

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StarofBTC
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October 08, 2017, 07:13:47 PM
 #69

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

If you're using low PC like Pentium 4 or D with low processor it can harm for your computer. Because mining required high quality Graphics card  and fast processor and good PC. Even if you have all these and you start to do bitcoin mining, I don't think you can get any good results other than waste of electricity and power. Bitcoin mining is no longer a one man one pc job.

Indeed it is depend on our device, if your device such as personal computer has a low performance then mining could be harm for your computer since bitcoin mining is requiring a high performance processor. Performance of your device is necessary because in mining your computer is open 24/7.
High processor or not, mining bitcoin with your personal computer is like waste of time. If you want to go into mining proper, it is better you do it properly and commit some cash into it. That is the best way you can enjoy mining as an investment. However, if you feel you just want to mine some alts for the fun of it, hopefully something good comes out of them, then be my guest.

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October 08, 2017, 07:23:22 PM
 #70

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is done using specialized mining hardware. Think of them as high-powered, industrial PCs which can only be used for Bitcoin mining and nothing else.

So what is there to look out for if you're a miner?

1) Financial risk, ie. the Bitcoin network grows faster than you expected, so you don't mine enough to get the money back you paid for the machine.

2) Physical risk, ie. if the mining hardware doesn't get properly cooled or the location where you mine at has bad wiring there's a certain fire hazard.


What is there to know for the general populace?

3) Impact on the environment, ie. the whole of the Bitcoin network uses a lot of electrical energy.


Does this answer your question?

financial risk:- well I don't think so, because if you have good hardware then you can easily mine 70$ a day which can pay to enough to get your money back, use latest hardware like S9 in series and efficient power supplies to earn more.

Physical risk: a good miner take control on his mining equipment very care fully, like every business it depend on you to reduce physical risk, the more you invest( get better equipments) then this risk will be minimized.

Impact on the environment: well, there is no such bad impact of mining on  environment because electricity consumption can me minimize by using cooled places and efficient power supplies.

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October 08, 2017, 09:44:25 PM
 #71

what dangerous about computer? its just computer, the only thing make it dangerous is only electricity.
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October 09, 2017, 10:33:49 AM
 #72

Obviously, all newbie face this question in the different forms like.


1)how mining works?? is it legal or illegal?
2)which is the trustable portal or clouds that can I trust?/
3)where should I start?
4)whose advice should I take ?
5) whom to trust and whom not?
 
p.s: if you are a newbie please add up your questions below.

Now let's talk about mining and it is dangerous or not?

First, keep in mind mining BTC is risky for sure. no one guaranty you that your money is safe. if someone does then, believe me, he is making you fool. but here's the thing in bitcoin mining that its worth it(if you know what you are dealing with or what the whole process is about).

Mining Is not dangerous but its risky in the sense of becoming fool. Because there are lots of scams and fraud out there.

Tips: If you are not taking risks you will never overcome your fear. the point you decide to quit. it will become your weakness throughout your whole life. you think its dangerous or you will lose then find one person who has done that kind of work that you want to do. and ask for advice. you will not find a winner who never lost. so give it a try.




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October 09, 2017, 01:31:49 PM
 #73

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
 
 
The biggest damage i can imagine is your electricity bill ! Cheesy
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October 09, 2017, 01:34:24 PM
 #74

Mining bitcoins is safer than working in a construction site.

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October 09, 2017, 09:06:53 PM
 #75

Of course it is not dangerous. How one can imagine damages from Bitcoin mining? I cannot understand that.
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October 09, 2017, 11:59:30 PM
 #76

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
 
 
The biggest damage i can imagine is your electricity bill ! Cheesy
At one aspect we may say that mining of bitcoin is dangerous due to lack of fresh air environment which required to be provided continuously for the cause not to be burst out the system drastically  by electricity heat but if software are perfect and compatible and environment has been provided completely ventilated so it is not harmful for mining bitcoin.
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October 10, 2017, 02:37:45 AM
 #77

I think in mining the dangers for bitcoin miners can be said to be relatively safe
but in the world of work certainly all have its own risk so if we are doing bitcoin
mining must assemble the engine and power cable wiring in accordance with the
procedure so as not to happen koslet resulting in fires and using a cooler which
is good because if we are mining bitcoin miner bitcoin will be forced to work so
require additional cooling tool so that tool does not burn. I suggest if you want
to open a bitcoin mine should be in a cold area to save electricity because it
does not need too much use of cooling.

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October 10, 2017, 07:51:17 AM
 #78

Of course is not
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October 10, 2017, 08:48:57 AM
 #79

It could be dangerous if you dont know how to properly install and any safety measures to install the devices you needed to build a mining rig so you might get electric shock, also it could be dangerous to your device as well. Better to do some research first and seek assistance to knowledgeable person before initiating it.

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October 10, 2017, 09:22:06 AM
 #80

Actually it is a good question.
When I was working in Australia (Karratha), to work in a mine, you had to get plenty of safety tickets before even entering the site.

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October 10, 2017, 06:05:51 PM
 #81

How would it be? There is no profit there anymore, and some forms of mining can stress a computer pretty good, but as long as you were responsible when getting the software, then there is nothing that can happen that is bad.
Yes, mining of bitcoin is no longer profitable and it does stress out the computer but I was told by an expert that if ones get some require software it will help in making it more profitable....

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October 10, 2017, 08:39:57 PM
 #82

First of all if you are new to mining, then probably this is a long way to go. There are so many miners there and if you want you want to be successful you need big computers, more electricity supply, and air-conditioner and so on. If one of these things is subject to malfunctions, then it can lead to dangerous hazards and risk to life. Also, despite that if one can say dangerous from the point of view of earing because with the greater completion in the market value  of investment is increasing and Bitcoin mining seems to be less profitable than it used to be.

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October 10, 2017, 08:52:49 PM
 #83

what dangerous about computer? its just computer, the only thing make it dangerous is only electricity.
I feel the problem is that some people, most especially does not understand how mining works and rather than read about it, they end up asking questions that  aren't worth asking or giving answers such as this. Mining has evolved past what you will be doing with your PCs unless you are just hoping the altcoin you are mining may be worth something one day, then it is useless and you will get frustrated.

If anyone could mine with their PC no matter the high specs, we won't even bother buying mining gadgets as everyone will just be busy having free money doing nothing or not committing much every day.

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October 10, 2017, 09:21:26 PM
 #84


Yes, mining of bitcoin is no longer profitable and it does stress out the computer but I was told by an expert that if ones get some require software it will help in making it more profitable....
 
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October 10, 2017, 10:56:18 PM
 #85

it can cause a fire if you're not careful.

altcom: AUUZyEWhxbtUtjDB6ohSytkF8PZ96AjUKu
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October 11, 2017, 12:51:14 AM
 #86

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
I hope your question will be either financial or Hardware perspective. Have some tips down there.

If your questions is about Hardware then its dangerous if you couldn't make the atmosphere always cool since mining machine will always generates heat as long as it runs. And possibly if you use old equipment it will leads to loss.

It will not be risky if you worried about setup and not aware of electrical basics. Its really simple as like you setup your new PC but the usual hardware for mining are highly powered.

Financially it will not be dangerous if you use the latest featured hardware or GPU's for bitcoin mining so that you will get some regular decent profit. Do a research on power consumption charges in your region because its a major precaution for future income and if it not affordable try looking for solar setup.



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October 11, 2017, 11:34:55 PM
 #87

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
I hope your question will be either financial or Hardware perspective. Have some tips down there.

If your questions is about Hardware then its dangerous if you couldn't make the atmosphere always cool since mining machine will always generates heat as long as it runs. And possibly if you use old equipment it will leads to loss.

It will not be risky if you worried about setup and not aware of electrical basics. Its really simple as like you setup your new PC but the usual hardware for mining are highly powered.

Financially it will not be dangerous if you use the latest featured hardware or GPU's for bitcoin mining so that you will get some regular decent profit. Do a research on power consumption charges in your region because its a major precaution for future income and if it not affordable try looking for solar setup.
I think it is not dangerous, although mining needs electricity and electricity is the sign of danger. If you take care of yourself then there is no danger while mining bitcoin. The work is too tough and exhausting but the reward is also big. Miners get their investment back in a few months and then they start profit. In the whole process of bitcoin I don’t see any fear or danger. Knowledge and skills are mandatory for mining.
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October 11, 2017, 11:48:16 PM
 #88

Little knowledge is dangerous. Speaking of bitcoin mining, it is dangerous the if the hardware and its electrical connection s are not properly maintained. To be profitable, a single mining hardware takes a loads of at least 1 kilowatt of electricity same electrical requirement of oven toasters the only difference the oven toaster run only for less than an hour will a bitcoin mining hardware runs 24/7 which is equivalent to 24,000 watts of electricity to run whole day that is running like running 100 oven toasters in 15 minutes. The more power it need the more heat it generates, without proper cooling and ventilation system results to damage hardware or might end up of burning it. If everything is properly set-up and well supervised then the dangerous circumstances is prevented.

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October 12, 2017, 01:35:06 AM
 #89

Every mining have risk dude
Maybe can be dangerous if you do not understand about mining
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October 12, 2017, 02:25:38 PM
 #90

not that dangerous
what is dangerous on mining to earn money?
is there a dangerous on it
what kind of dangerous do you mean?Huh??

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October 13, 2017, 04:34:40 AM
 #91

You can look up the laws for bitcoin in your country but normally there are no real laws/regulations for it.
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October 13, 2017, 08:22:32 AM
 #92

Every mining have risk dude
Maybe can be dangerous if you do not understand about mining
The danger apparently lies in the person not even understanding what they are doing in the first place. Some people enter into an investment without asking questions, learning properly and knowing the best decision to take and then end up fumbling pretty bad at the end.
You should understand what you are getting into first and not just mining, generally before investing.


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October 13, 2017, 11:39:39 AM
 #93

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

mining bitcoin is not dangerous but i think its not profitable again because the difficulty is increase from time to time and if you don't use hardware with big hashrate, then its difficult for you to make profit. beside that you need to check if in your house, your electricity can lifted up the hardware or not, because the hardware needs more power to work properly and you need check the electricity fee. i think you can still trying mining but its better you mining the other coins which can give you profitable in weeks or month.

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October 13, 2017, 12:03:56 PM
 #94

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

It's not dangerous to the people, to us what's even more dangerous is if you are going to gamble with the money you don't own or you are going to smoke more than thrice a day.

There's nothing to be afraid with mining as it is profitable and there's nothing wrong for a person that wants to mine.

And if you want to know more about bitcoin mining since you've got internet on your place I would suggest that you should use it and visit a search engine.



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October 13, 2017, 12:26:31 PM
 #95

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

dangerous? how mining got dangerous for us human? I think you want to tell is the radiation exposure on us human by this more than dozens mining rig, bitcoin mining is not dangerous and it cant harm people unless it will overheat and explode by the nonstop usage of it. but its not gonna happen.

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October 13, 2017, 01:41:12 PM
 #96

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
You will get two sides of different things about bitcoin mining. Doing mining is breaking block in blockhain network in order to get reward and then generate satoshi. Some say that mining is a disadvantage and some say that mining is profitable. Some of the reasons that are often put forward are that increasing mining difficulty will make us difficult to get profit. Because there are many influences such as operational costs and also hardware maintenance that must be calculated every time.


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October 13, 2017, 02:21:20 PM
 #97

It seems to me that extraction may not be unprofitable business. Who will operate this at a loss? The price of production falls only because it is connected to the extraction of the miners from countries with low income levels. Why pay more if there are people willing to get cheaper? Cryptocurrency is a self-regulating mechanism and will always find a way out of any situation.

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October 14, 2017, 05:17:25 PM
 #98

It could be dangerous if you set the house on fire, which is easier to do than most think.
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October 14, 2017, 06:16:49 PM
 #99

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
I hope your question will be either financial or Hardware perspective. Have some tips down there.

If your questions is about Hardware then its dangerous if you couldn't make the atmosphere always cool since mining machine will always generates heat as long as it runs. And possibly if you use old equipment it will leads to loss.

It will not be risky if you worried about setup and not aware of electrical basics. Its really simple as like you setup your new PC but the usual hardware for mining are highly powered.

Financially it will not be dangerous if you use the latest featured hardware or GPU's for bitcoin mining so that you will get some regular decent profit. Do a research on power consumption charges in your region because its a major precaution for future income and if it not affordable try looking for solar setup.
I think it is not dangerous, although mining needs electricity and electricity is the sign of danger. If you take care of yourself then there is no danger while mining bitcoin. The work is too tough and exhausting but the reward is also big. Miners get their investment back in a few months and then they start profit. In the whole process of bitcoin I don’t see any fear or danger. Knowledge and skills are mandatory for mining.
Few months? I don't think so unless if you are operating large scale then you would somehow feel the profits specially if the electricity is cheap then it would really be a profitable thing for you.When we are talking on literal danger then electricity would be one of it if you don't properly set-up those miners then the risk on this accident would be there and also the risk of fire would be there too this is why we should really set our miners safely to avoid these accidents.


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October 14, 2017, 07:55:33 PM
 #100

As a simple private miner you have usually nothing to fear, except you will get scammed when you buy your mining hardware.

If you plan to install a huge mining park with a lot of hardware illegally while you are obligated to declare your project to the authorities, then it can become indeed dangerous for your money and freedom if discovered!


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October 14, 2017, 08:04:14 PM
 #101

How would it be? There is no profit there anymore, and some forms of mining can stress a computer pretty good, but as long as you were responsible when getting the software, then there is nothing that can happen that is bad.
Yes, mining of bitcoin is no longer profitable and it does stress out the computer but I was told by an expert that if ones get some require software it will help in making it more profitable....
No software will help you to get the best out of mining with your PC, all your need is hardware. So it is either you get some GPUs to mine altcoins or you get ASICs. That is the only way you can be close to making profit mining. Anything apart from that is just a waste of time.














 

 

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October 15, 2017, 06:34:30 AM
 #102

so if you live in Russia and are considering getting into mining, it's possible you may soon run the risk of having to pay taxes on your profits!! here's the latest effort of the Kremlin trying to capitalize on the crypto craze  Angry:

https://news.bitcoin.com/russian-regulators-tax-license-cryptocurrency-miners/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Time to make some serious coin!
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October 15, 2017, 06:41:59 PM
 #103

Old equipment is not dangerous if it is properly connected. Therefore, mining is not dangerous if you understand the intricacies of the process.
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October 16, 2017, 04:11:25 AM
 #104

The process of adding transactions record to bitcoins ledger of past transaction is called Mining.
The miners are the persons who does this and confirm the transaction to rest of the network.
In return they get bitcoins as their charges. Mining require a setup of specialised graphic cards, motherboards, cooling systems and domain knowledge.
Mining is dangers from both sides economically as we as physically.
Mining devise works round the clock so it required continuous electric supply which is quiet costly.
The system needs proper cooling system without which they got overheated and stops working which may result into a big loss to minor.
You must have proper knowledge of the electrical appliances used in the process of mining otherwise they may cause accidents and injuries.

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October 16, 2017, 11:34:43 AM
 #105

yes in some sense. the computer will degrade more, as it is used more
the computer will overheat and some components will fail because of that
you will overload some part of your computer with the mining and it will short circuit or blow a fuse
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October 16, 2017, 11:42:45 AM
 #106

It could be dangerous if you set the house on fire, which is easier to do than most think.

It could be dangerous to communicate with someone who sits under this account because he is prowler and snatcher.
check the Trust section in his profile

My account maxll was stolen.
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October 16, 2017, 09:39:29 PM
 #107

It could be dangerous if you set the house on fire, which is easier to do than most think.

It could be dangerous to communicate with someone who sits under this account because he is prowler and snatcher.
check the Trust section in his profile



I don't think mining can harm to the health of those poeple who used that because mining is done in specialized mining hardware which plays the important role of bitcoin network to confirm waiting transactions by including them in the block chain to generate bitcoin into capital market. 



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October 17, 2017, 04:24:56 AM
 #108

Mining is the good profit for the future. But you know the mining process. It will careful handle the mining. Mining is the network process it will become grownup you. It handle to careful it power full one. It need to cooling place. If know the process it will handle the mining easy to way. It will not danger. If use the mining process.

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October 17, 2017, 07:33:55 AM
 #109

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is done using specialized mining hardware. Think of them as high-powered, industrial PCs which can only be used for Bitcoin mining and nothing else.

So what is there to look out for if you're a miner?

1) Financial risk, ie. the Bitcoin network grows faster than you expected, so you don't mine enough to get the money back you paid for the machine.

2) Physical risk, ie. if the mining hardware doesn't get properly cooled or the location where you mine at has bad wiring there's a certain fire hazard.


What is there to know for the general populace?

3) Impact on the environment, ie. the whole of the Bitcoin network uses a lot of electrical energy.


Does this answer your question?


well in financial risk cases, a am aware of the loss in cases. and of course all computer should be in good and ideal cooling and temperature. In the impact of the environment, it would be helpful not to inform all neighbors that you are mining bitcoins so that only you are using.  Grin Cheesy





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October 17, 2017, 07:36:54 AM
 #110

It could be dangerous if you set the house on fire, which is easier to do than most think.

It could be dangerous to communicate with someone who sits under this account because he is prowler and snatcher.
check the Trust section in his profile



I don't think mining can harm to the health of those poeple who used that because mining is done in specialized mining hardware which plays the important role of bitcoin network to confirm waiting transactions by including them in the block chain to generate bitcoin into capital market. 




i thought this mining is really dangerous to the health..now i know it will not. I am so happy to hear this one...at least i am encourage now to do this mining.

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October 17, 2017, 09:05:26 AM
 #111

Bitcoin mining is dangerous but we earn there a huge profit. It is clear where risks have more profits, so we take a little risk.
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October 17, 2017, 11:33:58 PM
 #112

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

bitcoin mining is the act of mining the bitcoins using a dedicated hardware or software tools and it is done by joining on a pool or doing solo by installing and operating your miner. i think that theres no danger in bitcoin mining as long as you are doing the correct procedure and instructions given to you or on the manual of your purchased hardware and software.

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October 18, 2017, 03:18:03 AM
 #113

Yes,it's very dangerous if proper hardware and software are not used. If we use simple laptops with graphic card then they get damaged because of the stress as the hardware in these machines are not suitable for long time functioning. But if one is using the machine made for mining like Antminer S7 or Avalon 6 with proper cooling systems then there is nothing to worry about.

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October 18, 2017, 06:15:38 AM
 #114

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

no it is not dangerous you have to work on that. most of the people trying to doing mining. so they need just electricity and bit coin mining. if you have to do it step by step carefully then you have to doing correct. so first you have to choose how to do it. practically bit coin mining give to more profit. so try to do it once. if you have any doubts on bit coins mining you have to consider who already doing mining.
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October 18, 2017, 06:48:30 AM
 #115

dangerous or not it depends on our understanding of bitcoin. because if you already understand we will know the profit of bitcoin and the dangerous of bitcoin.

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October 18, 2017, 08:08:05 AM
 #116

Dangerous ? about what ? your health ! environment ? what exactly do you mean .
i don't think mining is dangerous . the only thing you need to be afraid about is your hardware. mining bitcoin is so intense, so they gonna work at full power all time and that can damage your PC
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October 18, 2017, 08:42:44 AM
 #117

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
If have the capital for mining that was good, because it takes a lot of capital mining


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October 18, 2017, 08:44:51 AM
 #118

dangerous or not it depends on our understanding of bitcoin. because if you already understand we will know the profit of bitcoin and the dangerous of bitcoin.
what dangerous?
 I just know about dangerous, can you explain it?

▬▬▬ ★ ★ ★ ★ ★ ▬▬▬
● PLINKO  (+) ROULETTE ║ BITVEST ║ |7| SLOTS    ▼ BIT SPIN
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October 18, 2017, 09:02:36 AM
 #119

mining dangerous?

if you are mining on your home/work pc:
 * install and configure anti-malware software in mining pc ;
 * configure your pc firewall ;
 * check reviews of the mining software before using it ;
 * ...

https://bitcointalk.org/index.php?topic=1466445.0
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October 18, 2017, 12:29:10 PM
 #120

mining dangerous?

if you are mining on your home/work pc:
 * install and configure anti-malware software in mining pc ;
 * configure your pc firewall ;
 * check reviews of the mining software before using it ;
 * ...

I thing is danger but you know the how to use the mining process it must. So will use the mining you will learn the bitcoin mining process. If learn the bitcoin mining is the future gaining. It network process. Mining is the useful to future growth. You will learn the more information. It power full one so careful handle the mining and it need to cooling place. If you know the mining process it not danger.   
 

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October 18, 2017, 03:14:25 PM
 #121

I thing is danger but you know the how to use the mining process it must. So will use the mining you will learn the bitcoin mining process. If learn the bitcoin mining is the future gaining. It network process. Mining is the useful to future growth. You will learn the more information. It power full one so careful handle the mining and it need to cooling place. If you know the mining process it not danger.   
You can learn the end to end process of mining from many people's experiences here in this forum itself. I mean you do not need to experience mining for the purpose of knowing its different aspects. I believe without proper knowledge and entering into mining must be more dangerous.

Bitcoin mining is dangerous but we earn there a huge profit. It is clear where risks have more profits, so we take a little risk.
It depend on you that in which country you are doing mining. If you are doing mining in a country where electricity is very costly then it is very dangerous because you have to just waste a time because it will not give you much profit or you have to go to loss some time while if you are doing mining in a country where electricity is cheap or free then it is a good way to earn a huge profit by doing mining.

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October 18, 2017, 03:40:03 PM
 #122

As a simple private miner you have usually nothing to fear, except you will get scammed when you buy your mining hardware.

I rarely see those case that people who are buying mining hardware are being scammed. If you will buy then just go to the people who are trusted and worthy of your time for negotiating, just don't waste your time if those sellers doesn't have proof of authenticity as a real seller.

If you plan to install a huge mining park with a lot of hardware illegally while you are obligated to declare your project to the authorities, then it can become indeed dangerous for your money and freedom if discovered!

Dangerous for the taxation? There's nothing to worry about it even you'll declare it to the authorities how you'll declare it? as an investment or something the same? You won't get noticed especially in a country that doesn't recognize bitcoin.



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October 18, 2017, 04:38:44 PM
 #123

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is not that dangerous as long that you know what you are doing.

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October 18, 2017, 07:43:49 PM
 #124

I don't think so. It's safety process when u know that u're doing. I hadn't burn any GPU and I'm mining btc's succesfully))

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October 18, 2017, 08:15:22 PM
 #125

why should it be dangerous ??  Shocked Shocked

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October 19, 2017, 02:34:24 AM
 #126

It's safer than mining for diamonds. 
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October 19, 2017, 03:13:06 AM
 #127

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

What kind of "hazard" you mean? Harmful to environment or health, or ROI?

It isn quite  wasteful as it essentially justified burns computers and electricity.

That is why SAFE network and MaidSafe has a better approach to a digital coin than blockchain
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October 19, 2017, 03:52:40 AM
 #128

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
If the said dangerous can be less formal or even acknowledged by the state to do it other than that a loss that will be obtained also very make us feel annoyed every time doing mining.

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October 19, 2017, 12:55:57 PM
 #129

It's safer than mining for diamonds. 
No who said bitcoin mining’s dangerous? You know a lot of people mining bitcoin by adding in hardware and then join a group for mining and after that they group will be rewarded and that profit will then divided between group’s members so what is dangerous in this process I think this idea is really awesome and all of bitcoin users really appreciated with them.
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October 19, 2017, 12:56:40 PM
 #130

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
If the said dangerous can be less formal or even acknowledged by the state to do it other than that a loss that will be obtained also very make us feel annoyed every time doing mining.
I think the best of bitcoin is mining bitcoin in which people work together in the form of group and where they help each other to make a good reward, I don’t think so this is dangerous I know some people knowing negatives about bitcoin then they will feel panic but the reality is something good and safe.
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October 19, 2017, 01:03:55 PM
 #131

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Yes  it is So dangerous for newbie because you must need to know what you do so that if you are newbie you will waste energy only
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October 19, 2017, 01:42:46 PM
 #132

it is not that dangerous it it rather too expensive in terms of electricity
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October 19, 2017, 03:12:52 PM
 #133

When you mine bitcoin and setup your sistem, if you act according to safety rules, there will be no problem.. but if you use a lot of miner, you have to calculate your power requirement.. please be careful on the all steps..

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October 20, 2017, 12:15:11 AM
 #134

this is less risky than trading because we only use electricity and graphics card..
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October 20, 2017, 11:45:44 AM
 #135

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
Bitcoin mining involves a lot thing that whoever don't have good knowledge of what it entails should try as much as possible to know more about it before investing into Bitcoin mining. Dangers like financial risk or involvement to purchase the hardware that min Bitcoin is one of the major problem I see when it comes to the issue of Bitcoin mining as compared altcoins mining equipment. If set up a Bitcoin mining farm in a place where there is constant electricity that will be disastrous to mining business and your capital.

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October 20, 2017, 12:47:23 PM
 #136

well every job must have its own danger without the exception of bitcoin mining. Because if we are mining bitcoin then we have to force our tools to work so it needs a good cooler to keep the temperature and usually bitcoin mining is built in cold areas to reduce the cost of electricity. Dangers can also come from the poor cable arrangement so that it can lead to a koslet then a fire occurs.

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October 20, 2017, 01:12:13 PM
 #137

It’s only dangerous if you install server power adapter to your home rig. There are several cases when videocard has failed in a cryptocurrency mining and burins like a candle. If you are interesting try to look videos on YouTube. Lips sealed

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October 21, 2017, 05:11:26 AM
 #138

it is not that dangerous it it rather too expensive in terms of electricity
Not that dangerous? There is nothing dangerous about mining as long as you have the right set up and you are well informed. It can only be dangerous to your pocket, if you are not doing it right or using the wrong gadget for the wrong coin. The expense is just one thing you have to close your eye to, knowing you will get your ROI and then have something to give you good income for as long as you want. So, what makes that dangerous?



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October 21, 2017, 10:13:32 AM
 #139

it is not that dangerous it it rather too expensive in terms of electricity
Not that dangerous? There is nothing dangerous about mining as long as you have the right set up and you are well informed. It can only be dangerous to your pocket, if you are not doing it right or using the wrong gadget for the wrong coin. The expense is just one thing you have to close your eye to, knowing you will get your ROI and then have something to give you good income for as long as you want. So, what makes that dangerous?

maybe the dangerous here its mean he is not calculate how much electricity fee that he should pay and if this is happen, then we can not reach our goal for reaching profit. how could we still continue mining if we don't pay the electrity fee? and we need to install the proper cable to use for our mining hardware and to make sure that our hardware can work properly. beside that, selecting a good coin and with the good gadget is a must that we should have because this is the most important to do from mining.

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October 21, 2017, 01:19:12 PM
 #140

It’s only dangerous if you install server power adapter to your home rig. There are several cases when videocard has failed in a cryptocurrency mining and burins like a candle. If you are interesting try to look videos on YouTube. Lips sealed
Nothing is danger-free in this world. Everything that comes with some profit, there are losses covered up behind, you only have to cater for those hidden dangers. There must be proper care taken for subsiding these threats. Like you said, there are so many videos on the YouTube where you can see how the whole wiring system got burnt. Precautions are there to implement before.



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October 21, 2017, 01:41:34 PM
 #141

I don't see bitcoin mining is dangerous as long as you know how to do it properly, so before you start mining bitcoin you must learn the process first and know what's best machine you should use so that it will not that costly and that can mine more bitcoins.

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October 21, 2017, 01:51:18 PM
 #142

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

What kind of "hazard" you mean? Harmful to environment or health, or ROI?
why

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October 21, 2017, 04:58:46 PM
 #143

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

What kind of "hazard" you mean? Harmful to environment or health, or ROI?
why


Dangers like financial risk or involvement to purchase the hardware that min Bitcoin is one of the major problem I see when it comes to the issue of Bitcoin mining as compared altcoins mining equipment. If set up a Bitcoin mining farm in a place where there is constant electricity that will be disastrous to mining business and your capital.

ZIGGER      ███
  ███ ███
█ ███ ███
█ ███ ███
     ███
███ ███
███ ███
  ███ ███
███ ███
███ ███
███     █
███ ███
███
A Decentralized Crypto Marketplace
____ for Localized Shopping ____
[|FACEBOOK
TWITTER
SLACK
|ICO  ▶  13th November 2017
GET YOUR 40% BONUS
IN FIRST 24 HOURS!
]      ███
  ███ ███
█ ███ ███
█ ███ ███
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October 21, 2017, 05:48:50 PM
 #144

 Smiley yeah i think is posible to dangerous a elecrticity sistem
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October 21, 2017, 06:13:29 PM
 #145

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.
Bitcoin mining is only it is the procedure by which exchanges are checked and confirmed and after that they are conveyed to people in general record, which is known as Block Chain and you can state it is the method of exchange through which new bitcoins are discharged. In the event that you approach the web and great bit of equipment then you can take an interest in mining.Mining Need high measure of Electricity and for that You have to put resources into sustainable power source as utilization of power which is high. You're going out on a limb and You require immense Intial venture for that. Also, by the path here regardless of what isto be done, yet you have to secure your coins at any cost. It is done around a protected domain and thusly Mining bitcoins will be hurtful in future If Bitcoin mining Gets high significance from the general population.
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October 21, 2017, 08:16:23 PM
 #146

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

If your house wiring is shit and you overload a circuit it can melt or catch fire so there's that. I burned the main wire that came from the meter, it had to be replaced with the correct AWG and it's safe now.
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October 22, 2017, 01:21:08 PM
 #147

what kind of risk you mean? Financial Risk Or Physical Risk?
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October 23, 2017, 05:55:47 PM
 #148

No. Bitcoin mining is absolutely safe. But it too noisy

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October 24, 2017, 12:53:31 AM
 #149

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

I am a newbie also and I never used to think that bitcoin mining is dangerous and has lot of hazards involved. I was made to understand that different companies update the ledgers of people that send or recieve bitcoin on the blockchain platform. And by updating these ledgers, these companies earn some bitcoin for themselve and this is referred to as bitcoin mining. Usually the transaction fee placed on sending bitcoin is what these companies get for updating your ledger. Its like you are paying them to update your ledger. Not one company is responsible for updating the ledger. There are several mining companies wanting to update your ledger. So I guess its whoever senses your transaction first that probably updates the ledger. That is the easiest definition of bitcoin mining I can give but the algorithm behind it, I am clueless.
Yarsk
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October 24, 2017, 05:54:38 AM
 #150

Bitcoin mining is safe but not totally safe as no human activities in totally safe. Bitcoin mining is done using different equipments but the major equipment use is the computer and constant electricity so if this two mentioned thing are harmful then bitcoin mining is harmful, but in my own view bitcoin mining is safe to some extent.
And coming to you question of what is bitcoin mining.
Bitcoin mining is done using specialized mining hardware. Think of them as high-powered, industrial PCs which can only be used for Bitcoin mining. So with this you now understand better.

darkangel15
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October 25, 2017, 06:15:02 AM
 #151

Is there anything that is not dangerous in this world Do you take the dollar Can you get the gold can be stolen It's all risk We have to be careful
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October 25, 2017, 09:08:10 AM
 #152

Is there anything that is not dangerous in this world Do you take the dollar Can you get the gold can be stolen It's all risk We have to be careful

But mining is not that much dangerous ,just you have to be careful of scam website they will tell like big rewards but they won't pay you at the end.Only join in the famous bitcoin mining pools the rewards will be worth because the value of bitcoin increased very much.
Mining setup produce lot of heat which maybe little dangerous so you have to keep the miner rigs in air-conditioned room to overcome this issue so don't lose yiur profit by just thinking it maybe dangerous,Like you said anything in this word is not zero risk , you have to overcome all risks to get rewards.
lucemferrum01
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October 25, 2017, 01:54:15 PM
 #153

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Well there are always risks aside from mining itself there goes protection your mined coins but in terms of mining I think the only danger would be lack of maintenance that may result to short circuit since its running 24/7 and may cause fire accidents.
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October 25, 2017, 02:29:58 PM
 #154

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Well there are always risks aside from mining itself there goes protection your mined coins but in terms of mining I think the only danger would be lack of maintenance that may result to short circuit since its running 24/7 and may cause fire accidents.
that's why its needed to make sure that you know what you are doing, because facilitating your equipment is not that easy in order to gain good profits,
chances of breaking your device not only the short circuit but also the condition of the device better to study first before starting this type of investment.

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October 25, 2017, 02:39:38 PM
 #155

Because i am new at bitcoin i'm wondering what is bitcoin mining and how it is done.
Is it dangerous for us people?? I want to know more about bitcoin mining.

Bitcoin mining is only dangerous to those who don't do it!

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October 25, 2017, 04:01:12 PM
 #156

mined bitcoin there is no danger that we will experience. mined bitcoin is very profitable for us because no life will be lost like a landslide in gold mining. I also mined bitcoin with computer.

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October 25, 2017, 04:06:38 PM
 #157

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I think there are many risks if you do not know: risk of email security, bank account, website account, trading account. The risk of digging bitcoin machines is also known as how to check the damage machine, hardware has to keep up with the increasing difficulty of many other miners. Risk of electricity, heat, noise. The legal risk of the country you are living in is acceptable.