Furzo
Newbie
 Offline
Activity: 90
Merit: 0
|
 |
May 23, 2018, 05:42:02 AM |
|
Nowadays mining is not profitable in some countries due of high electricity usage like in my fellow country Philippines many bitcoin enthusiasts not recommend bitcoin mining as their one of source of income cause mining in Philippines is risky this will be profitable if bitcoin will increased.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
lushlife
Newbie
Offline
Activity: 280
Merit: 0
|
|
May 23, 2018, 05:42:56 AM |
|
Bitcoin mining is an interesting way of trying to make a few bitcoin tokens on the side, but it also serves a very important purpose in maintaining and keeping the bitcoin blockchain secure.
The rising costs of mining effectively and competing against large mining pools have made it harder for the hobbyist to profit on mining bitcoin.
It’s virtually impossible to mine enough bitcoin to recoup your initial cost of equipment and electricity. But if you’re not so concerned about making a buck, you could have fun panning for this cool currency.
But also it depends where you're from, because all doesn't have the same prices in terms of equipments, electricity etc.
some ideas got from: finder.com
|
|
|
|
|
god25
Newbie
Offline
Activity: 62
Merit: 0
|
|
May 23, 2018, 05:56:44 AM |
|
Bitcoin is mined in blocks, and now the reward for the block is 12.5 bitcoins. With a rate of about $ 5,000, the award will be approximately $ 62,500. In 2009, when bitcoin mining began, the reward for the block was 50 bitcoins; in 2012, the reward was reduced to 25 coins, and in 2016 - to the current level. Such double declines occur regularly; the next is planned for about 2020 - then the amount of compensation will be reduced to 6.25 bitecoins.
|
|
|
|
|
Marjo04
Full Member
Offline
Activity: 408
Merit: 100
www.bitpaction.com
|
|
May 23, 2018, 06:12:03 AM |
|
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 !  Its up to you my friend. If you have to much money or time to manage that. I have a friend that try that bitcoin mining but he failed to back his capital because he spent all in electricity bills and maintenance. So my advice is just think carefully if you are ready to do this. There are so many ways to invest in bitcoin. |
|
|
|
|
imking
|
|
May 23, 2018, 06:18:23 AM |
|
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 ! Mining is worth it if you mine altcoins. Mining bitcoin also worth it but the problem is it will take an extended period before you collect one bitcoin. Doing mining is very complicated because it requires lots of preparation such as hardware. Mining rig hardware is too expensive. The area where you put the mining rig. Ming rig requires a cold place because it produce hit. The electricity is the one will your major problem if you build it, you need a solar panel to reduce the electricity bills. |
|
|
|
|
terlesbogli
Jr. Member
Offline
Activity: 155
Merit: 2
|
|
May 23, 2018, 06:20:15 AM |
|
Nowadays mining is not profitable in some countries due of high electricity usage like in my fellow country Philippines many bitcoin enthusiasts not recommend bitcoin mining as their one of source of income cause mining in Philippines is risky this will be profitable if bitcoin will increased.
Yes In our country Mining is not recommend for every bitcoiners. Mining Bitcoin can give you a bit of money due of our climate is disagree in this kind of passive income and if we want mine bitcoin we should buy air conditioner and some expensive things so it is good to trade coins than mining it. |
|
|
|
|
secret0x
Newbie
Offline
Activity: 238
Merit: 0
|
|
May 23, 2018, 06:51:33 AM |
|
Well... If hashpower is greatest... It's good that I think... good luck.
|
|
|
|
|
ludygiram1011
Newbie
Offline
Activity: 113
Merit: 0
|
|
May 23, 2018, 06:54:35 AM |
|
Bitcoin mining has always been a highly profitable industry, but mining is not as simple as it was a few years ago, and it will take a lot to enter the mining industry, not only money, but also energy and perseverance.
|
|
|
|
|
|
bxipp
|
|
May 23, 2018, 07:00:10 AM |
|
Bitcoin mining surely worth if only you open it big scaled. If it for fun then it will be useless cause the competition are too tight. There was more coins and token too mining outhere that less competition. Why not start from small to big.
|
|
|
|
|
chnexus
Newbie
Offline
Activity: 200
Merit: 0
|
|
May 23, 2018, 07:08:58 AM |
|
at the moment, it will again be profitable to buy equipment and extract bitcoin. the price of the equipment is reduced.
|
|
|
|
|
tranthetai
Newbie
Offline
Activity: 56
Merit: 0
|
|
May 23, 2018, 07:14:05 AM |
|
Now you see my issue with them. I just don't personally care for them. I don't have to like who they are or how they run their business but I can choose not to give them my money.
So although I am a GPU miner, the thought of giving up the motherboards, the frikin risers, and the spaghetti mess of cables inherent to a GPU rig is attractive.
|
|
|
|
|
soraxas01
Newbie
Offline
Activity: 98
Merit: 0
|
|
May 23, 2018, 07:20:49 AM |
|
You should not try bitcoin mining if you dont have the sufficient budget to buy the hardware as well as the information required to do so such as specs of the gou you are going to use and how you will build the rig just for mining. This include the whole rig and the maintenance of it.
|
|
|
|
|
pat231
Member
Offline
Activity: 308
Merit: 10
|
|
May 23, 2018, 07:47:11 AM |
|
When I first started my bitcoin activity, I also looked at mining, but then it seemed to me unprofitable, and now I hold the same opinion. Just invest and everything.
|
|
|
|
johnlhy253
Newbie
Offline
Activity: 32
Merit: 0
|
|
May 23, 2018, 07:48:14 AM |
|
Crypto mining is a long term thing. after the first year, if your equipment isn't broken, the price of each coin is equivalent to the electricity you used to mine it. Please be guided accordingly.
|
|
|
|
|
|
Raja_Salman
|
|
May 23, 2018, 08:22:44 AM |
|
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 ! indeed bitcoin mining it requires a considerable cost and a long time before doing mining thinking more and smart in making decisions in mining investment |
|
|
|
|
|
Janation
|
|
May 23, 2018, 08:25:27 AM |
|
indeed bitcoin mining it requires a considerable cost and a long time before doing mining thinking more and smart in making decisions in mining investment
And that is the reason why it is worth it. In time, earning digital currencies are getting harder and harder, if you want to earn a good amount of digital currency while it is still early is to mine them. But as you have said it really requires a huge investment and huge patience but I will still go at investing on a mining rig since I don't want to wait to increase the value of digital currencies, I want to increase the amount of them. |
|
|
|
|
CAPT.DEADPOOL
Full Member
Offline
Activity: 854
Merit: 102
PHORE
|
|
May 23, 2018, 08:31:22 AM |
|
It's a good bitcoin for bitcoin mining if you have a lot of bitcoin miners and especially if bitcoin is too high for mining in december last year because bitcoin price is too high at 1million a bitcoin last year so it's good to have a mining last year the electricity bill, especially if you have a lot of miners for a few months you have to recover the investment value of the miner
|
|
|
|
blackandred
Newbie
Offline
Activity: 154
Merit: 0
|
|
May 23, 2018, 08:37:26 AM |
|
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 ! Are you a Filipino? Well, bitcoin is not anymore profitable in Philippines since there is a high cost of electricity and we all know that mining uses current so much. I want also to try mining of bitcoins but I am doubting if I will gain or loss my capital. please do not evaluate your mining costs by the current bitcoin price . it is a bear market now . if you dig out some bitcoins now . tow years later , bitcoin price have risen fivefold and your mining is worth it . |
|
|
|
|
|
Valzzz005
|
|
May 23, 2018, 08:38:13 AM |
|
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 ! The mining is still worth it because there are still bitcoins to mined but the hinf is they are not unlimited so you better start now for you to have mine a lot because there are a lot of miners today and the mining rigs are getting expensive you better start or nothing. You are just gonna cost a lot in buying mining rigs but I am sure that you will regain that thing. Just be sure that your country can provide you electricity because that will also cost you a lot |
|
|
|
|
|
aces777
|
|
May 23, 2018, 09:10:05 AM |
|
It wont be worth your time to start mining Bitcoin now, as you are too late to the mining game. Also trying to mine on a small scale wont be much profitable and it requires huge amount of investment to turn it into decent income. You are better off just purchasing the bitcoin on exchanges hassle free.
|
|
|
|
|
