Are Bitcoin miners still good to go?

[poplolnman]

Because it costs so much electricity, several countries have imposed restriction on mining activity?

no you are mistaken because of a lot of FUD in the media. there were no several countries ever! what happened was that a tiny place in New York State started planning for some restrictions on usage of electricity and that news was exaggerated in less than a day into a big FUD.

you don't have to worry about miners they are making their profit (with or without your worrying!) thanks to the way bitcoin is designed (difficulty and all that) and also not to mention the potential of growth that bitcoin has.

I've heard about that. Exaggerated indeed. Mining would always ptofitable as long as you do a right calculation , a great skill to see an opportunity like when you've mined Bitcoin usually miner sell it all due the cost that need to be cover up soon to restart the business and instead you sell it all , hold some whenever you see a great potential ahead.
Normal thing indeed when you sell you mined coin all at once , think about how if you put it as an investment for longer time , your electricity cost would get covered sooner or later , that is why you better start mining with extra money in your pocket.

[money1122]

thats why theres a consensus using PoS its much cost effective.. and also other consensus is being used.

[Denker]

While mining bitcoin still profitable, dead end price 5-6k usd and i think bitcoin never dump lower this price

The big miners have still plenty of room to mine BTC profitably.
The price would need to drop to 3k-4k to reach a critical level in terms of generating profits for them.
That's why I believe we haven't seen the bottom yet. I could imagine more blood slowly grinding down which will make many more people give up and sell their coins.
The big miners have patience and deep pockets. They are in no rush. They sell BTC on spot, and hedge via shorting futures and accumulate more BTC while price is low.

[Doy17]

yes still good, seeing from the trip bitcoin more and more users

[abanansah]

Bitcoin mining is still good to go if you have the resources, technological know how and the time and patience to see the results which will not be big as trading or investing in bitcoins.

[NineBall]

I guess it's pretty good when you do not have a family or live alone because you do not have to pay excessive electricity. I guess if you already have a family it might be a bit of a hassle because a lot of fees will come out.

[binhvo1505]

Because it costs so much electricity, several countries have imposed restriction on mining activity?

At present, there is no country limited in mining. The government imposes high taxes on the income of the business. That's a pretty high tax rate and those who are subjected to tax are very angry.
But it only happens in a few countries. so mining can still be a good profession with the conditions the investor must find a place to sell cheap electricity.

[roadsirm]

up to today still so many people doing mining in bitcoin in addition to getting so big advantage bitcoin is also still good at doing in pernambangan karna bitcoin suplay is still a lot.

[pompinkpomelo]

Mining profitability is very interesting to me. Do most miners turn them off if it dips below profitability or just keep it going in hopes that price raises?

[phelbaby]

Mining is one of the best way to earn extra bitcoin into your portfolio but electricity consumption is another challenge. It will be profitable if there is a stability in the electrical power.

[Harlequill32]

With the current price of crypto right now? I'd say, MINING is dead. Just gonna wait for the price of Crypto to be great again. Electricity bill is killing the miners. LOL

[Gadhoh]

can still for now, for the results obtained depends on our business in mine, only for the price is now down, but there is no problem if we mine at this time, yet the price will surely rise

[onnz423]

It depends on your country, if you live in a very low cost per killowatt country, then bitcoin mining can still be profitable, assuming you don't overspend on your hardware.

Ideally you would get your GPU's/ASIC below market price in order to generate a full return on your investment quickly, but it can still be possible even paying scalper prices on Ebay.

It might be a good idea to wait until the next gen ASICs come out, I think Antminer are released a 10nm variant of their ASIC this year, so that would likely be profitable if you buy at the presale price.

[parassinghal]

As we know that the price of bitcoin is very less now so i don't think that its still good to go for mining bitcoin. Because the cost of resources used for mining will be more costly then what you will get through mining.

[roller24]

Mining is a pretty good way to make money on cryptocurrency and passive.The main thing is to pay off all this equipment in time and that's the secret of success

[Maryverycool]

Because it costs so much electricity, several countries have imposed restriction on mining activity?

Yes, now many countries because of mining the currency needs to consume large amounts of electricity, they banned in domestic currency, so under the miners equipment professional them into some recognition COINS, and they received support from the local government, low power resources

[shahzadafzal]

Because it costs so much electricity, several countries have imposed restriction on mining activity?

The short answer is it depends on how much you are going to spend on the mining equipment first. Bitcoin Mining profitability depends on many different factors like how much Hash Rate your equipment producing. So higher the hash rate and lower power consumption means higher profit.

But whatever you do i'm sure you will have a limited budget so no one going to get rich by mining Bitcoins at home, can't just compete with these Chinese mining industry https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iRcJ9JZnDQc8/v0/800x-1.jpg
So if you planning like that with million dollar of investment (to produce your own first) then yes you are good to go...

[jonas5222000]

yes because of shortinning in electricity,and much of these was warm country like my country which is the philippines,but mining is indemand in many country because of big income of bitcoin so for me bitcoin mining is still good but not all.

[andika2018]

Because it costs so much electricity, several countries have imposed restriction on mining activity?

Mining bitcoin with bitcoin price right now, not much profits we earn. Better buying bitcoin in market because bitcoin price more than 50% lower than peak. Bitcoin miner better holding their coin I think, because electricity cost is high

[kastara]

whether this will cause the price of the coin to rise