Why do people mine Crypto?

[Geoll29]

A few years back mining crypto gives huge income to miners. Many have become wealthy. In the present there are still income which can be achieve through mining but it's not as higher as before. But even if the income is lower it's still income so I would continue supporting miners to do it.

[takumi2354]

I don't know about the usa, but in Russia there is a certain hatred for miners, because they raise the price of graphics cards. There are also many problems associated with mining. One of them is a huge cost of hardware and a lot of competition in this area. Also, do not forget about the large power consumption of farms, that is, in addition to large fees for hardware, you also need to pay for large energy consumption. Eventually. If you have no money for the maintenance of the farm's best bounty of the company.

[rayk]

As long as it is profitable then people mine crypto. Trading, holding or any other ways to make money has some risks just like mining has so I don't think mining is so much complicated than the money miners make.

[Supercrypt]

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...

More like the short summary of the miner's life. However, to have that initial capital to set up miners is still some work you have been able to do to achieve that in the first place and since you are tying that your capital anyway, it is still some risk to take. Nevertheless, the essence of mining is for proof of work and for the miners to get rewarded in the process which is basically more like an investment as well and the reason why transaction keeps going on in the crypto space.

[naidray]

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.

Yes, it is more like you are solving some complex algorithm problem with your miners to verify transactions which is the main purpose that they serve for a long term and short term benefit as the case may be. It is normal to understand the essence of mining anyway to be able to understand the reason why people mine.

Asking for the reason why people mine is more like asking for the reason why people invest which is basically to make profit and a way to put their money to work. Cryptos have invented a new way of earning in the name of mining. Making use of new earning method is always being preferred by all human.

[coinplus]

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

Yeah, a really great cost but for those who can have it easy most especially when it comes to electricity cost which is more like the main thing to contend with asides from temperature, then I would say it is something worth it.

The main reason people mine is to make profit and have a lot of stake in some coins for the long term since most of the time, you may not actually be breaking even in a short term in any coin you are mining except if you are not paying electricity bills and you have a cold climate condition to compensate for the cooling appliances you would not have to purchase.

[arthurgrand]

Other than the possible profits that can be accrual from mining, I don't think there's another reason why people mine cryptocurrency.

[ToddDiaz]

The thing about mining that make it advantageous over buying is that with mining you just keep getting coins as long as you keep mining while with buying, once you run out of money, you cannot get any more coins. So I think that the idea of continously getting coins is what the most attractive part about it is. Also there is also the fact that miners help to keep the network running.

[santino11]

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.

i wonder how do miner feel if they can't get enough with their expenses.
miner unit is really expensive and you need to do maintenance as always.
electricity is really cozy and you need to have a cool place.
i just want to invest and trade and do bounties than mining.

[gawer33]

perhaps one of the reason is some people prefer to invest something tangible. another thing is mining is a passive income this is good especially for people who are not comfortable doing trades. And in case the crypto market collapse they still can sell their GPU's to return some of their money. some miners don't trust buying crypto's fearing the value might go down. In simpler term, they prefer investing in something they are comfortable.

[Specular]

Mining is a profitable investment if you have the major factors on hand which is not causing you to gain less than to gain more. Electricity is one of these factors. If you are living in a third world country, you will absolutely say that mining is a very expensive investment because you don't have a free electricity unlike other countries.

[kostagr33k]

Mining is interesting. With a little knowledge, you can make a few computers that will provide money for you and your family

[santosummer]

As we all know, the volatility of the crypto market depends on its characteristics. This is a decentralized supply. As the popularity grows, it will resonate into the profits earned. I think that is the main reason why mining crypto is becoming more and more popular and attracts many corporations and companies to invest in this field.

[BumbleBeast27]

I think mining is one of the best ways to earn passive income. However, you need to be ready with your capital to start a profitable mining business or else you will not earn much.. I prefer trading since i don't have that much capital to start with.

[Television123]

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.

[crypto freelance]

A year ago this was a popular and profitable business. Now, just unprofitable, it's easier to participate in the bounty. But I do not think for long, until the crypt grows.

[KEPLER99]

The thing about mining that make it advantageous over buying is that with mining you just keep getting coins as long as you keep mining while with buying, once you run out of money, you cannot get any more coins. So I think that the idea of continously getting coins is what the most attractive part about it is. Also there is also the fact that miners help to keep the network running.

I am nit in very much favor of the mining of any of the crypto coins and that is because of the reason that mining demands you to have high investment amount and that you need to have some very large amount of capital to set up the mining field. After that, you need to have a huge amount of power and electricity resources and that you need to give enough of your time and efforts to mine any of the crypto coin.

[yanimkurniawan]

I really like crypto miners, because for us crypto is also very good, because in the future will grow better, so we believe that krypto is a better future.

[cuongnp7777]

I buy miners for mining ETH. ETH bring more profit for me. 

[fiorilia]

mine is in a very crypto produce. Although so many are complaining it will especially if speaking of the costs used to mine. free site does exist, however, the results also will not make the rich or even not enough for anything. dare pull out large capital needed to mine the very facilities or bills because it certainly will also produce a large amount of crypto.