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Author Topic: Is bitcoin mining dangerous?  (Read 12266 times)
desanti
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November 07, 2017, 02:45:46 AM
 #221

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?
if I think bitcoin mining is done using a device for special mining, which can only be used for bitcoin mining and nothing else.
what to watch out for if you are a miner?
1) bitcoin network grows faster than expected and you are not sure to get the money you pay from that machine
2) the physical risk if the mining device is not cooled properly or the location where you have a bad cable can be dangerous like a fire because of the large amount of electricity
Can this answer your question?
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Ayush rana
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November 07, 2017, 07:06:22 AM
 #222

Mining is not dangerous at all but the main thing for mining is you should make your hardware working for 24*7. But as compare to othere things like trading and investing mining is very slow.

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November 07, 2017, 07:22:10 AM
 #223

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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November 08, 2017, 01:02:52 AM
 #224

It can be dangerous... if you don't manage your electricity right. I nearly burned down my house with an electrical fire.
banut
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November 08, 2017, 02:49:54 AM
 #225

Nothing is without risk you will get. The basic thing is financial risk is there in Bitcoin mining. Also the other general factors are quiet exists same like other physical hazards are there.
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November 08, 2017, 06:05:55 AM
 #226

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.  Smiley
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November 08, 2017, 07:43:29 AM
 #227

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.
Nothing is dangerous if the house does not sleep or the computer does not rip open from overexertion. The main patience and a lot of money to invest and maybe then the profit will be good.

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November 08, 2017, 10:11:47 AM
 #228

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.
Well from the word mining it would be nice to hear, for me bitcoin mining is depending on you if how you bring it on. In mining theirs a risk but also theirs good impact if gods well.
And a lot of answers here that bitcoin mining can damage your pc, maybe itcan damage but if you make the right choose theirs no dangerous just be careful on it.
Even bitcoin mining running even your sleeping just make it clear that you can support all the needs in turning on it.

Keep safe always

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Rudementry
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November 08, 2017, 10:54:42 AM
 #229

Everyone here talks about the physical danger, fire, shorting of wiring, damage to the computer.
 But no one talks about the danger of profit. If November 20 bitcoin dies, then the capacity must be transferred to another crypto currency.
 I hope that all the miners will succeed and everything will be fine.
Time X terrifies me very much.
BitcoinDiamond
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Nope.


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November 08, 2017, 11:39:16 AM
 #230

Physically it is not dangerous. Treat it the same as any other appliance, maintain it and check it regularly, clean it, service it if required. Replace is required before it breaks. As long as you respect its amount of work it is doing and energy applied to the system then you should consider checking it from time to time.
heidybarted
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November 08, 2017, 12:21:17 PM
 #231

I think you need to read some good articles about BTC. You do not run any risk, what are you talking about?  Huh
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November 08, 2017, 12:24:34 PM
 #232

Nothing is without risk you will get. The basic thing is financial risk is there in Bitcoin mining. Also the other general factors are quiet exists same like other physical hazards are there.

Actually mining with bitcoin is not a risky one.It is like playing a Roller coaster game.You fell like ,you will fall from the rider.But Actually 99.9% you will not fall.So doing mining is not a risky one.Only you will get profit from it. Not a loss sure.

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November 08, 2017, 01:17:04 PM
 #233

What danger can mining do to you that you could consider it as dangerous. If you are talking about risk that it can give during operations like machines starting a fire or are you pertaining to the danger of losing your investments?

Avoiding the machines to caught on fire is just easy, on operating aming farm then you can just have safety precautions for the operation. For the risk of loosing your investment then machine can be turned of if it is not profitable during that day to lessen the amount of loss.

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November 08, 2017, 02:18:19 PM
 #234

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. Huh Huh
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November 08, 2017, 02:32:29 PM
 #235

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.
First that is needed to be said is that Bitcoin mining is not dangerous. It is very dificult yes, but not dangerous, also it requiers a lot of money investing. Because to be able to profitably mine Bitcoin you need either ASIC miner or strong GPUs. Mining is, well simply said its using your computer to do some algorithms. You can google it for more info.
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November 09, 2017, 06:24:09 AM
 #236

there's no worries about bitcoin mining. because this is operated with computer hardware.. i dont know what your talking why mining is dangerous to us. but i didn't see bitcoin mining became dangerous to us...

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November 09, 2017, 06:37:53 AM
 #237

It can be dangerous... if you don't manage your electricity right. I nearly burned down my house with an electrical fire.

Its very important to understand that per unit power that you get in your residence is different than that at commercial space or at industries. So ideally you should not be mining at your home due to which the electricity load is different and it can result in the short circuit which could be more dangerous.

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November 09, 2017, 07:56:56 AM
 #238

Exploiting bitcoin is not dangerous. The current bitcoin mining is a profession that brings a lot of money to the professional diggers. You should only be careful with the authorities if you can not explain the source of the electricity you are consuming.

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November 09, 2017, 09:22:05 AM
 #239

Using wrong tools may brings you to accident ,thats the situation in which danger is indeed.bitcoin mining provides heat that enough to make fire.in other countries they use the miner to give them heat in cold season.so if you really want to be in mining.you must be catefull on the tools and parts to use.and always have safety measures

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November 09, 2017, 09:46:39 AM
 #240

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'm also new in bitcoin, but i use the internet to know all about bitcoin, there i can find out what is bitcoin mining and bitcoin mining is dangerous or not.

Try to do that
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