Bitcoin mining is costly...

[Liternyy]

Cloud mining: how, by investing $ 1.5, it's easy to lure a bit bitcoin and other crypto-currencies
  10/10/2017 0 comments business idea, earnings, internet, real business
If you are planning in the near future to obtain several units of popular crypto currency and are already ready to build your own farm - stop. There are methods of mining without farms, and, consequently, without serious investments. So, this method will suit everyone - from beginners to professionals. Meet - cloud mining crypt. Fast. Just. From $ 1.5 per year

[soname12]

I am not a the miner bitcoin . But I already know that the cost to dig out Bitcoin is very expensive. Maybe some time later I will spend some time researching the exploitation of Bitcoin. Because many of my friends say that exploiting Bitcoin is very simple. It's a passive way of making money

[kingkonjac]

the electricity is the main reason for the cost of the miners, if a renewable energy source in a country where the producing costs may be really cheap than the cost of it would definitely decrease otherwise we would need to make our own electricity in our homes in order to decrease the costs somehow.

[tranduc2101]

I do not understand why people continue to exploit Bitcoin when costs are very expensive. People can exploit ETH or other coins. I have exploited the ETN coin at an exploit cost very cheap

[Skieleton]

For the average person, bitcoin mining is virtually impossible. Now there is a need for a farm with its own power supply, for example green energy ...

[DunnDy]

Mining, of course, is unprofitable and at the moment generates huge costs for electricity, which is why many people have abandoned it for a while ago. Should mining be cheaper to encourage people to do it again? Of course not because as you know the number of blocks to mine is finished and with each moment there are fewer and the prize for block mining increases so it would be pointless to facilitate the acquisition of something that is less and less. It's worth to look at it from this side.

[rasp]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Mining will become even less profitable in the nearest future because the reward for a completed block will be reduced by half.
Moreover, I heard some miners saying they would quit if BTC goes down below $3,000.
The only way of increasing the profit from mining is moving to a country with the lowest electricity price (Canada, China, Switzerland, Iceland).

[PeRo]

Mining any cryptocurrency needs expensive equipment and high electricity consumption. I would rather mine alternatives if I had the money, because you can mine them with normal graphic cards instead of buying new Antminers and similar. It is more profitable and a high end graphic card is much cheaper and it is still good for mining.

[DJ_Rick]

I think that it is costly but it is worth it! To my mind, it is the best way to get coins and this is the best way to promote crypto in general, in Russia there is a city with miners who are engaged in getting coins.

[Jannatul Shefa]

Yeah I have heard about bitcoin mining. And according to my knowledge it's really very costly. And to set up miners it's really expensive.

[hakertajniak]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Bitcoin mining cost is expensive indeed, you need to buy the latest mining tools such as asic miner to mining it effectively.
Many miners close their mining activity because everyday bitcoin difficult increase due the newest equipment.
maybe you can mining other coins instead bitcoin.

[Boov]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

I personally do not think that investing in bitcoin mining is a wise idea given the fact that it really does consume large amount of electricity and just like what you said it has a  expensive equipment , I'd rather investin alternative coin virtual currenycy than in bitcoin because as of now the price of bitcoin always declines.

[Husen Alikhsan]

I think that if there is a mining that will be easy and cheap, no sane person will buy a single satoshi and they can only mine it without ever buying from others. The cost of mining is one factor of the high price. There are so many sh * tcoins using the same algo with bitcoin but their mining difficulty is very low, you can try to mine them to see what happens. How about you. Thanks

[ArifNewaz]

Bitcoin mining is too costly because it requires expensive supercomputers. Better to use that capital to trade coins in usd.

[befriendmywater]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Yes, but the reduction in operating costs will also contribute to profitability. We can exploit Bitcoin and hold it until its price is higher. We are still bitcoin holders and never worry about capital losses. Because Chinese traders have said that they are always profitable when the price of bitcoin is over $ 3k.

[kesmex]

Obviously mining is very expensive, especially if it is done in a country with expensive electricity tariffs, but mining will be more profitable if in a country where electricity tariffs are cheaper, so if the electricity tariffs in your country are expensive it is better to invest than the embarrassment of mining. .

[avoxosuccesful]

i think that In the event that you will begin mining at current trouble and cost of bitcoin you is just misfortune except if you have free or exceptionally shoddy power. Mining with cloud gets nowadays is much the same as doing suicide your agreement will end subsequent to being unbeneficial like the greater part of the viabtc contracts will be. So in both way yes mining is exorbitant and not gainful at the present time but rather in the event that you will keep all bitcoin you will dig now for next couple of months you may make gigantic benefit so its like betting.

[ParveZ219]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Yes the main thing for mining is the electricity... Investment is one time investment...Now depending on your region that whats the cost of electricity...or you can also use solar power...or any other type of energy source depending on your place.

[kl8847]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

I have heard that sooner or later mining, as it is right now will stop and we will continue to mine only those things that are required in order to make all the transactions between wallets. This will be the only.

[eaLiTy]

One thing to say mining bitcoin consumes a large amount of electricity and it would take lots of equipment to manned the mining. There should be a development in making the cost of bitcoin lower; given that lower mining cost could yield a higher profit. However, it matters on trading and exchanges.

Is there any solution for that, there is no concrete study on how much electricity it consumes globally to mine bitcoin or is it even possible to compare the amount of electricity used by all the financial institutions around the globe, i can bet it will be much larger than anything else, so stop comparing the amount of electricity being used as it makes no sense, i really hope we could see renewable energy sources being used to mine bitcoin in the future, but it is just a opinion.