Why do people mine Crypto?

[Rokot]

you have money - you have miner, you have miner - you have extra money doing nothing. It's a dream all of new rich peoples - have money doing nothing to have free time for fun. Of course in practice you must do something...

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[a_t_e_e_b]

people mine if it is profitable for them we know that mining comes at  great cost there is electricity hardware and maintenance and if someone is able to cope up with all of it then it a profitable miners are a very important part of this community we cannot imagine this whole system without them

[Razick]

People mine crypto because mining is more like a free way to get some coins. A lot of people who have such a large stash of coins actually made the coins from mining and back then a lot of bitcoins could be mined using just a laptop or a desktop with a GPU but now that is not the case. They mine because it is a good way to get a lot of coins without having to buy the coins yourself.

[papagapa]

Mining is not so popular as it was because the coinage of cannibal has become much more difficult, so the profit does not come straight out very quickly, except there are many risks...

[padcoin]

Why people mine crypto, for the same reason than people invest in crypto to make money, wen you mine it is like participate in ICO, you invest your electricityin crypto

[MiukoOk]

Exploiting Crypto is always profitable for many, many have abandoned their main job to enter the Crypto market. They can generate high profits in just a short time, so focus on learning experiences.

[Cryptokarl]

The reason people use Crypto is making a lot of money from the easy way. He uses it anywhere in the world to send money instantly. The future is very beautiful.

[elrugrim]

The reason people use Crypto is making a lot of money from the easy way. He uses it anywhere in the world to send money instantly. The future is very beautiful.

what?
It is not only easy, it is even risky to make money from crypto.
Especially when you are in mining, you are depended on exchange rates always. If it is okay, you have profit, if not, you can even lose everything.
Currently, most part of people who are in mining have not one GPU or one asic, they have small mining farms with 10-20-100 miners there, only this way it can be profitable.

[Balab01]

Mining is becoming less popular because in the crypt you can find other ways of earning that do not need such investments.

[dress]

I would not start mining now from scratch, because now investing in this equipment does not pay off. Mining farm are too expensive so I would not do so.

[mmo4me.2016]

Everybody mining to invest, earning daily income and keeping the network stable! Every time an altcoin is mining, it does not depend on the developer but the community! This adds value and secures the value for digital money!

[Getcoinsite]

It's true Mining for some people are more preferred than buying, because it looks its work with its own hardware. But the problem here to be able to start mining the crypto capital issued is not small and should consider the following

• Hardware Care / week,
• Replacement of parts (in case of damage),
• Electricity Payment (subject to use), etc.

Well to me, huge amount of investments for hardware is really needed since GPU's price these days increased because of mining. But in some cases, college students in USA just dorm without paying the bills and it's worth a try for students there because it's legal to mine while studying on their own dorms. So basically, they don't need to pay for the electricity bills and got a huge amount of profits.

Its not only student from usa is mining so you literally mentioned about USA situation in which not applicable to majority of miners in the world.this only represents just part of it so let's generalize the issue because mining will only succeed if were in the low cost electricity countries .

[elghoniya]

Mining is one of the key ideas with regards to the universe of digital currencies. There are two approaches to get hold of digital currencies - you can either get them off trades, or you can dig for them. Exchanging is for the individuals who would prefer not to put excessively in a mining setup, or do not have the specialized know-how.

Mining digital money is as yet another idea and necessities time to wind up acknowledged by a general public where numerous people are accustomed to utilizing an unmistakable type of installment.

Nonetheless, when you consider it, a great many people don't convey money any longer, only a plastic card. So the underlying advance toward a cashless society has just been taken.

How quick that change happens all around is unessential. Mining Bitcoins has now turned into an acknowledged piece of society as people keep on learning how to profit and receive unmistakable products consequently from their utilization.

Miners have the initiative to do what it takes to get profits just like traders, investors and bounty hunters do. They take risks for them to get benefits from the Cryptocurrency they mine especially Bitcoin.

In the event that you need to earn, you should purchase particular hardwares, since mining on your PC will cause harm, which will cut into your benefit. While talking about equipment, something essential is its hash rate. Fundamentally, the higher the hash rate, the more probable you are to unravel an exchange piece rapidly. You can think about various equipment on the wiki page bitcoin mining equipment examination. Bitcoin mining utilizes a considerable measure of power, so you need to check your future equipment's vitality utilization level just to ensure you put resources into the most effective Bitcoin mining equipment.

Losing your digital wallet wallet may likewise be a hazard that one may experience if not cautious. This occurs for the situation where one is secured out on account of overlooking your wallet's watchword. Another case is the point at which the wallet supplier happens to come up short on business. The dismal news, lamentably, is that one can't recuperate his or her wallet once bolted out. This is all because of the way that the framework that oversees digital currency mining like the bitcoin mining, is the decentralized sort of framework. Coins that happen to be in such wallets get completely lost from the economy. Beside that, there is the issue of programmers breaking into and discharging your wallet.

I think, If you have much money to buy mining equipment you can do that. The People mine crypto because it was a source of income for some people who have devices that can mined crypto, imagine you are earning without doing just making good of your devices.minning is no risk, but the equipment is very expensive.

[Red-Apple]

Everybody mining to invest, earning daily income and keeping the network stable!

no miner has ever cared about stability of the network. even bitcoin miners don't care that much (they care a little because they also have investment in it) but altcoin miners don't give a damn about it because they can always switch to another altcoin and continue mining that

[Tercyduq]

If in my opinion, many People mine crypto because it was a source of income for some people who have devices. Many people mine as a hobby while many mine as that way they will be able to accumulate that crypto for cheaper rates than for how much they would buy if bought from the markets or an exchange.Some people also mine as they have the required hardware lying around thats needed for mining and put them to some use.

[batang_bitcoin]

I would not start mining now from scratch, because now investing in this equipment does not pay off. Mining farm are too expensive so I would not do so.

You can say this and I'll agree on it because we can't really mine and it's not applicable to our local because of high electricity.

But there are some countries that has cheaper electricity so those miners does really pay off for the cost of mining. Reducing the consumption of energy is just a portion of your total profit if you are on the right location.

[nairb131]

Mining is also an important part in crypto currency as without these miners, some coin cannot function well. I think reason why people prefer to mine is because it is an easy way to get coin without investing in the coin. Mining process might be expensive because you need to buy the required equipment before you can mine.

[Aivengo111]

The whole problem is that the equipment for mining is incredibly expensive. I think that many people can not even wind up the money they invested in the farm's mining.

[loaddebitcard]

In a long-time perspective mining is much more profitable than simple holding the coins but it's also really expensive right at the beginning, not everyone can afford that

[CHENIEN]

Mining in crypto is a very perfect way of earning income in cryptocurrency business, although it is much expensive, but it makes also good returns of income. Miners also develops the total balancing system of cryptocurrency business.