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Author Topic: Bitcoin Mining , Is it worth it?  (Read 1771 times)
nalinpuri
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February 27, 2018, 08:03:53 PM
 #81

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy

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February 27, 2018, 08:12:52 PM
 #82

Bitcoin network difficulty is a measure of how difficult it is to find a hash below a given target.

The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Bitcoin mining pools also have a pool-specific share difficulty setting a lower limit for shares.

The Bitcoin network difficulty changes roughly every two weeks or 2,016 blocks.

There are all types of cloud mining options for other forms of blockchain

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February 27, 2018, 08:42:00 PM
 #83

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy
Even though mining isn't good for now due to high competition and blocks are hardly to find but we really need them also.  Because they are a part of a block chain technology,  we need more miners to fasten our transactions daily and to find more blocks in addition to the existed numbers that are mined already.  Thus, it really needs a huge amount of capital to spend on these and considering a possible high cost of electricity usage that sucks our profit.

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February 27, 2018, 08:45:23 PM
 #84

Mining is not a good way to earn at the moment when the mining difficult of Bitcoin is increasing day by day but it's a safe way to earn Bitcoin cause you'll never being scammed by anyone. But I think instead of investing your money in mining Bitcoin why don't you invest your money to buy Bitcoin directly? I think it's better than mining, you just need to buy Bitcoin then hold and you don't have to care about so many things like when you join mining.

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February 27, 2018, 08:47:23 PM
 #85

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

Bitcoin mining will be only worth depending on the electricity consumption you are getting monthly, the best thing is to canvass and plan on what hardware you will be getting in order to determine if you will be gaining profit or not before starting to run a mining rig.

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February 27, 2018, 09:00:32 PM
 #86

It depends on the cost of electricity first of all and then you should have the right hardware and of course enough time and patience.


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February 28, 2018, 07:00:32 PM
 #87

First of all you need mining gear and space where you can mine because of heat and possibly sound.
Then I would check out whattomine dot com, type in electricity your costs and hashrate of the equipment you could buy and voila there you can easily see if it is worth it.
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February 28, 2018, 07:08:38 PM
 #88

I think it is profitable. Even though it is not as much as earlier but it is definitely worth the effort. I would still suggest mining other coins instead of bitcoin because I think they would be more profitable.



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faaty
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February 28, 2018, 07:12:14 PM
 #89

Bitcoin mining is extremely expensive these days. You can not mine bitcoin with a low investment. You have to buy at least a couple of antminers and have a cheap electricity.
Cloud mining can be done, but I do not recommend. There is a risk of being scammed or hacked everytime.
You can mine altcoins however. All you need is graphics card used in gaming computers.
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February 28, 2018, 07:15:02 PM
 #90

Bitcoin mining is worth it when the value of bitcoin is low. You will mine faster with a reasonable hashrate. But it isn't profitable when the value of bitcoin is high because it will be very slow and you will end up spending more on electicity bills.

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February 28, 2018, 07:34:19 PM
 #91

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

In the PH (NCR), electricity cost around 0.19$ per KWh plus the difficulty of BTC so you are losing money than earning if you mine BTC.
I know you are a filipino too, I highly suggest to look for the filipino inventor who invent (recently) a self-efficient electricity generator which produce 1000W.
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February 28, 2018, 08:42:53 PM
 #92

Mining is quite profitable if you have cheap eletricity and a good supplier which will sell you equipment for lower price.
It is common for large mining farms to mine in places which have cheap electricity. GPU mining became popular recently which caused huge rise of GPU prices. Bitcoin mining requires special ASIC miners which mostly can be bought from Bitmain which is China based company. That's why some people don't trust it.
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March 01, 2018, 02:58:27 AM
 #93

bitcoin mining is still worth because bitcoin demands still very high and the values too.
if bitcoin mining was not worth, there would be no miners working to mining bitcoin.
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March 02, 2018, 05:41:38 AM
 #94

Yes it is worth it for bitcoin mining but you are just only waiting while bitcoin miner are still decreasing so and it is very slow to earn. We just need to pay some money in a store like 7 eleven to boost our bitcoin miner so we  can earn fast while waiting and we dont need to worry about bitcoin coz it is legal for my country philippines but i didint know if the bitcoin are illegal in other country...  Grin

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March 02, 2018, 05:49:05 AM
 #95

Start to mining bitcoin is not worthy unless you don't have huge capital to invest.  Because competition is very high. If we consider the price of mining equipment and chargers for electricity, that didn't return the profit. I think trading and invest in ICO is more profitable than mining nowadays.

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March 02, 2018, 06:01:37 AM
 #96

I think Mining is not a good option nowadays because bitcoin difficulty is becoming high day by day. Investing in ICOs and Trading are better options than mining because we can earn profits instantly when token value rises.  Cheesy
Yeah for the long term certainly bitcoin mining is not a good choice, bitcoin will be increasingly difficult to be mined, but for mining altcoin may still be worthed. there are lots of altcoins that can be mined you can try them. the cost of electricity will also affect your profits. if you don't want to avoid the electricity costs you can try mining sites or try to mine using vps or RDP

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March 02, 2018, 07:39:48 AM
 #97

there are so many mining sites mining apps, but not all are legit, most of them are fake, but i believe that mining is legit , just make sure that the mining sitee that you use is legit, be sensitive in finding mining site most of those sites and apps are fake.

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March 02, 2018, 07:44:05 AM
 #98

the strategy is also good for mines altcoin when altcoin prices are too expensive but there is a need for mining altcoin is high is specs your desktop desktop is the best for mining to be high gpu you desktop and you should also find the desktop of your desktop so that it will not affect you and your internet should also be fast

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March 02, 2018, 07:53:27 AM
 #99

Hello guys, I have a friend who told me about BITCOIN MINING.

What do you think? Is it worth it ? Buying Hardwares / Mining Rigs and plus the TIME to be consume.
I'm not even familiar with it , so I'm probably asking for advice on for those old miners.

Electricity here in PH is so expensive. Do you have some tips and tricks?

Thanks in advance guys !  Wink

I think Bitcoin mining is worth only in case you have great equipment for this. Mining requires a fairly large investment, which will not soon pay off. For such an activity, a large amount of patience is needed. Otherwise, nothing happens. I believe that today, it is more profitable to mine altcoins than Bitcoin.

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March 02, 2018, 08:02:56 AM
 #100

I do not think it's true for bitcoin miners to see that bitcoin is currently decreasing if you do mining, then what you are struggling will not match what you get. My advice if you want to do mining then it is better if you choose a better altcoin and more dominant in price issues. Because mine requires patience and persistence so that everything can be smooth.
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