It is too late to start mining?

[tuananh639393]

Hi everyone, I only have 3-4 months in Cryptopcurrency, I do trading, and investing in some ICOs also. I just start thinking about Mining and interested in that, but I wonder that is it too late to invest in this field since I know that more and more people get involved in Mining and it  more difficult to Mine, reduce the profit,v.v...
Could you guys give me some advice, I really appreciate that, and whether I join in this, what is the best now to mine: I consider between ETH and Zcash, may be you guys have the others option.

Thank you very much.

[1715697335]

1715697335

[1715697335]

1715697335

[1715697335]

1715697335

[1715697335]

1715697335

[ben8jam]

Yes, it's too late. Abandon all hope ye who enter here.

[xxcsu]

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

ORIGINAL TOPIC HERE

[LSteve]

You just have to do your own analysis, every business is a risk. I haven't started but I already ordered equipment to build my first rig with future plans of expansion. If assuming flat pricing for the particular Crypto to be mined  I'll get a payback period of less than year,  there are very few investments that will get you that that kind of return, and that's a conservative scenario not considering any upside.

Do your research and only go in if you feel comfortable. Perhaps your're saying it's too late cause you missed the train and missed those huge Bitcoin returns but this market is just starting.

[mountrock]

I have never done mining either. In my opinion it is all about economic calculation.

[tuananh639393]

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

ORIGINAL TOPIC HERE

Thanks you so much

[cn1]

...what is the best now to mine: I consider between ETH and Zcash, may be you guys have the others option.

whattomine.com might help you decide.

It's obviously still worth doing for many, many people because many, many people still mine 

How worthwhile for you, if at all, will depend on variables such as power costs, hardware on hand or cost if purchasing, temperature/space, etc

[danialzo]

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

ORIGINAL TOPIC HERE

Liked the answer! Pretty much telling us the story and 2 different perspectives. I'd say asking this question means that you probably heard the news, don't have enough information nor trying to acquire. IMHO you should look at mining as a long term risky investment (both time and money).

1. Understand the cryptocurrency (no need to know very technical details)
2. Research about the mineable coins
3. Pick few coins you understand, love, and believe
4. Find out how much you can afford to invest (as old saying "Never invest money you cannot afford to lose")
5. Find out what hardware is best matching your budget and coins you love
6. Suggest to think it as a long term investment

[Agozyen]

Hi everyone, I only have 3-4 months in Cryptopcurrency, I do trading, and investing in some ICOs also. I just start thinking about Mining and interested in that, but I wonder that is it too late to invest in this field since I know that more and more people get involved in Mining and it  more difficult to Mine, reduce the profit,v.v...
Could you guys give me some advice, I really appreciate that, and whether I join in this, what is the best now to mine: I consider between ETH and Zcash, may be you guys have the others option.

Thank you very much.

Generally not worth it.  If you want to learn about mining pick a coin and by a small amount of hardware.  If you are able to profit from your initial investment roll them into another mining rig and so on.  Don't go all in at once without knowing how to mine or what it takes.

[Marvell2]

depends on your power cost and if you can get cards for $300 to $400
sub .11 cent or .12 cent power and if you have a good space to set up rigs

[burnum]

Sooo... Mining is profitable? 

[shibob]

Hi everyone, I only have 3-4 months in Cryptopcurrency, I do trading, and investing in some ICOs also. I just start thinking about Mining and interested in that, but I wonder that is it too late to invest in this field since I know that more and more people get involved in Mining and it  more difficult to Mine, reduce the profit,v.v...
Could you guys give me some advice, I really appreciate that, and whether I join in this, what is the best now to mine: I consider between ETH and Zcash, may be you guys have the others option.

Thank you very much.

I think the electric price in Vietnam is cheap (I expect it should be 1700VND/kwh).
So at current price, basically you could ROI in about 7 months for ETH mining.
Many people asked this question and some of them never joined mining, and in the end, they regret about it.
Not sure about the future price, so dont need to predict it, just do it and create the future!

[zxc003]

It does not matter when you start mining, it matters when you sell the coins. So, mine, sell small amount only for electricity and HODL!

[Vit83]

Depend on prices of GPU and electricity. If u could find a cheap one. I counted if I put all my money Iwhat I spend on rig in coins and just hodl) I would be x3 from that time) U must understand that most profitable mining is when u can predict a perspective coin and can found it earlier than others) but in that way why just dont buy this coin or take part in ICO)

[levvv]

no, you can mining now, and still make a profit. the crypto currencies price is still increasing.
if you start mining now, and next year the price increase to the highest, you will get much profit

[tuananh639393]

Hi everyone, I only have 3-4 months in Cryptopcurrency, I do trading, and investing in some ICOs also. I just start thinking about Mining and interested in that, but I wonder that is it too late to invest in this field since I know that more and more people get involved in Mining and it  more difficult to Mine, reduce the profit,v.v...
Could you guys give me some advice, I really appreciate that, and whether I join in this, what is the best now to mine: I consider between ETH and Zcash, may be you guys have the others option.

Thank you very much.

I think the electric price in Vietnam is cheap (I expect it should be 1700VND/kwh).
So at current price, basically you could ROI in about 7 months for ETH mining.
Many people asked this question and some of them never joined mining, and in the end, they regret about it.
Not sure about the future price, so dont need to predict it, just do it and create the future!

yes, the elec. price in Vietnam is not so expensive, but thing is more elec u cost, more expensive price for that. Btw, i've ready calculate a bit, so like you say, around 6-8 months I can get ROI.
Thank so much for your advice.

[tuananh639393]

Depend on prices of GPU and electricity. If u could find a cheap one. I counted if I put all my money Iwhat I spend on rig in coins and just hodl) I would be x3 from that time) U must understand that most profitable mining is when u can predict a perspective coin and can found it earlier than others) but in that way why just dont buy this coin or take part in ICO)

Really good question, that why I need advice from everyone. But, like you said, just buy coin and hold, then there is nobody in mining?

[tuananh639393]

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

ORIGINAL TOPIC HERE

Liked the answer! Pretty much telling us the story and 2 different perspectives. I'd say asking this question means that you probably heard the news, don't have enough information nor trying to acquire. IMHO you should look at mining as a long term risky investment (both time and money).

1. Understand the cryptocurrency (no need to know very technical details)
2. Research about the mineable coins
3. Pick few coins you understand, love, and believe
4. Find out how much you can afford to invest (as old saying "Never invest money you cannot afford to lose")
5. Find out what hardware is best matching your budget and coins you love
6. Suggest to think it as a long term investment

Thank you for your advice, I'm interested in Mining and still consider about it, but i just find out a website about investing that they have Mining,you just pay them and they will return the coin for you everyday. When i calculate the interest, it's almost the same( a bit lower) with building a rig and  mine. But you dont need to have a big investment at the begining, that why I confuse a lot.

[Amph]

profit is higher than before thanks to bitcoin, so no it's not too late, you can enter now with oen rig and do $500 a month, which is high amount of money for just 6 card, i would probably go easy at first and see what will happen, you can add later more rigs

[FilipeHenriques]

With a 400k $ investment in processors you will get it back in about 1 year, then its all profit and energy expenses. If i had such a large amount of money I would definitely start mining but since I don't well... Only investing right now..