Is Cryptocurrency Mining still profitable?

[ERC20KIT]

I will like to know if Crytopcurrency mining is a worthy investment in the long term or if it is just a waste of time. Though For some cryptocurrency fans, mining just to break even is a good thing because they see it as a way to add value to the cryptocurrency Ecospace.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

[1715162590]

1715162590

[1715162590]

1715162590

[TGJ]

If you use the search function you will find one or two threads on this topic. 

[adaseb]

I will like to know if Crytopcurrency mining is a worthy investment in the long term or if it is just a waste of time. Though For some cryptocurrency fans, mining just to break even is a good thing because they see it as a way to add value to the cryptocurrency Ecospace.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

Well you are about 9 years too late but you can still start now.

However keep in mind you got crazy competition against you. So crazy that in the last year alone, it was very difficult acquiring GPUs at MSRP even. eBay and Craigslist were selling GPUs that are 2x of what they were worth about a year ago.

Also you need to have competative electricity rates, if you are paying $0.20+ or more per kilowatt of power then you will have a hard time getting your investment back and are just better off buying the coins and holding for the future.

[JeffJohnsonTheNameYouKnow]

If you are planning to mine for profit, that'll be hard.

However if you chase new coins, then every so often you get one that is worth something.

[adaseb]

If you are planning to mine for profit, that'll be hard.

However if you chase new coins, then every so often you get one that is worth something.

This doesn't really make sense anymore after 2014 or so...

Since you can pretty much go on Nicehash or MiningRigRentals or if the coin is listed on some exchange you can just buy the coins there.

If the small cap coin you buy explodes in value you make money that way.

Buying is better because he can probably buy much more coins while they are cheap rather than just mining slowly coin by coin while the difficulty keeps increasing.

[madnessteat]

Today, with the current capitalization of cryptocurrencies, the payback of mining farms on video cards has increased to 1.5 - 2 years. The farm is working, but to buy more equipment, I do not see the point. Here everyone decides for himself. I agree with adaseb that perhaps it will be better to invest in cryptocurrency.

[manji]

I will like to know if Crytopcurrency mining is a worthy investment in the long term

Yes,

I bought almost all my rigs arround 2016 until now still mining.

or if it is just a waste of time.

Yes,

If mining use CPU and Mobile Phone.

[aundroid]

Well you are about 9 years too late but you can still start now.

However keep in mind you got crazy competition against you. So crazy that in the last year alone, it was very difficult acquiring GPUs at MSRP even. eBay and Craigslist were selling GPUs that are 2x of what they were worth about a year ago.

Also you need to have competative electricity rates, if you are paying $0.20+ or more per kilowatt of power then you will have a hard time getting your investment back and are just better off buying the coins and holding for the future.

9 years  wtf
We are in the Altcoin Section here. 

And yes it is still profitable.
Don't believe the guys, who just check whattomine and never mined anything.

[xlm19877]

yes it still profitable

gpus card 570+580 give us about 1.2-1.5$ per day

you can check https://whattomine.com and see the profit for all GPUS and ASIC

[dogandogru]

Only those with specialized, high power machinery are able to profitably extract Bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered setups will find more money is spent on electricity than is generated through mining. In other words, mining won’t be profitable at a small scale unless you have access to free or really cheap electricity.

[blacktux88]

we are going to mine coins which we thinkt they could rise to moon.
but only because we dont pay to mouch for the power.
if you have to pay more for power than earn with coin you have to check out what you are doing

[Geraldo]

On the general view of mining
Mining still profitable, at least for miners that lived in the area that has cheap electricity cost. I assume this is for standard mining (mining on the major coins, doing by regular miners, etc.)

On my personal view
I started mining from 2013. So, I have a lot of experience in mining and to be honest, this experience that makes I always (mostly) got a good profit from mining.


Then back to the topic.
Cryptocurrency mining is worth for long-term investment or just wasting time?

You should invest in something that you mastered, at least you understand about it. So, when you know nothing about Cryptocurrency mining, that just wasting your time. But If you know much (experienced enough) or may you were on a learning, I can say for sure that was a good investment, at least at this moment.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

I don't have any idea 

[ERC20KIT]

On the general view of mining
Mining still profitable, at least for miners that lived in the area that has cheap electricity cost. I assume this is for standard mining (mining on the major coins, doing by regular miners, etc.)

On my personal view
I started mining from 2013. So, I have a lot of experience in mining and to be honest, this experience that makes I always (mostly) got a good profit from mining.


Then back to the topic.
Cryptocurrency mining is worth for long-term investment or just wasting time?

You should invest in something that you mastered, at least you understand about it. So, when you know nothing about Cryptocurrency mining, that just wasting your time. But If you know much (experienced enough) or may you were on a learning, I can say for sure that was a good investment, at least at this moment.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

I don't have any idea 

Thank you so much Geraldo for your comment. This is an eye opener for me personally "You should invest in something that you mastered, at least you understand about it" . I will be doing further study on mining

[PRC_May]

if you have cheap electricity cost less than 0.1

the mining is still profitable and good invest

and the best you hold your profit

because you will go 100-200% if you dont sell you coin 

[Howtomine.com]

It depends on a lot of things. The coin you mine, the price of electricity in your country etc.
It still is profitable but the best scenario is to mine new coins or just undervalued coins in which you see long term potential. In our opinion its becoming less and less profitable to mine bitcoin and other major coins. A good idea would be to focus on privacy coins, as we see biggest potential in the following years in them.

[DevelopmentBank]

Yes, mining can be profitable (and historically has always been) if you know what you are doing. But it might not be profitable much longer esp. for GPUs because will soon ASICs start taking over.  What I don't understand though is why this questions needs to be asked every 2-3 days. The search button always works and there is already a ton of available resources online.

If you use the search function you will find one or two threads on this topic. 

[ciciteng]

In today race, it's getting difficult. A lot of whales and pro jump in to the mining with big farm and pro rigs (ASIC and FPGA).
So, if you mining for a small hobby (not for you do mining for living) and afford to loose sometime (because the price's fluctuation) then you're very welcome.
But if I can suggest; just buy the coins instead with the money that you want to spend for building rigs.

[bozo333]

I will like to know if Crytopcurrency mining is a worthy investment in the long term or if it is just a waste of time. Though For some cryptocurrency fans, mining just to break even is a good thing because they see it as a way to add value to the cryptocurrency Ecospace.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

mining is a one-time investment. If you invested in mining platform it should be used in more than three to four years because graphics card is automatically reduce the performance in future but you should earn more profit in this platform. My suggestion is before to invest you must read the power consumption of GPU mining.

[bitcoinmasterlord]

I will like to know if Crytopcurrency mining is a worthy investment in the long term or if it is just a waste of time. Though For some cryptocurrency fans, mining just to break even is a good thing because they see it as a way to add value to the cryptocurrency Ecospace.

Please SHARE your ideas on profitable Altcoin Mining or what you think about cryptocurrency mining in  general.

mining is a one-time investment. If you invested in mining platform it should be used in more than three to four years because graphics card is automatically reduce the performance in future but you should earn more profit in this platform. My suggestion is before to invest you must read the power consumption of GPU mining.

It is a one time investment but now the GPU cost is very high and if we ready to pay high amount still we are not getting GPU's on the market. Last year 6 GPU's rig cost was around $3k but now it increased more than $6k. Still if you can afford the price and you can manage electricity cost means Investing in Mining is profitable.

[mitrajkt]

Mining will be profitable if the coins you earn are valuable and you should have your own predictions about the coins, and that can not be separated as well from some that need to be taken into account, such as the payment of electricity