Bitcoin mining is costly...

[cheezcarls]

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 actually agree with that statement. My dad and I used to plan acquiring a Bitcoin mining package in a local meetup. However, we just realized that it will cost a lot of electricity and may add up to our bill. If you want to make profit with mining, you should be prepared to setup a mining farm of your own with a huge capital and emotionally prepared for any risks taken.

[cuteboy2016k]

I think better to buy bitcoin from good exchanges and hold , Bitcoin mining is very costly and useless, electricity is more usage for bitcoin mining, before if you mine you will get good return your efficiency but not the mining bitcoin is very less and big miners only got benefit. If you want to earn good money then invest in bitcoin and wait for the exact time to sell, bitcoin have great future and this is the best time to invest.

[biskitop]

the larger the spec of pc and also the minning software, the greater the cost for minning, and also the cost of electric bills. although it can get bitcoin in bulk each month, but also will definitely cut the cost of a large electric bill as well.

[Fidelityman]

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.

That's why it's very difficult to mine Bitcoin because it requires many costly instruments and it consume more of electricity.

[bogdasha07]

Yes, as far as I know, mining is really becoming more and more expensive. The calculations are becoming more difficult and more and more computers are trying to solve these tasks, that's why miners need to have more powerful equipment that will be able to deal with more difficult calculations. Moreover, the costs for electricity are also not low. That's why more and more people who want to enter the crypto community prefer buying cryptos on exchanges.

[PatyZante]

If we are talking about this say two or three years ago, I can say that yes Bitcoin mining is costly but it is a great idea and is very profitable. But now, as we speak, I don't think so, before mining is costly but it has great returns now, it still has good returns but the cost has sky rocketed that the good returns may not be good enough in the long run, most of the necessities on mining like the mining rig, equipment, electricity and all the stuff cost way way higher now due to the fact that it is being used for Bitcoin, so the profit is not as big as before since the investment capital alone is already high.

[jemarleon]

If there's an easy way for it then all people will just mine BTC to be rich and rich until the maximum supply mined so there will be a cheap market for that if that happens. Yes its costly because it deserve to be cause of its high value.

[hachiman13]

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.

Good thing that technology is always evolving. As the computing difficulty goes up, it would drive people to innovate more powerful GPUs. Though I've read in some articles that printing fiat and maintaining the operation of banks are more costly than mining.

[Harith65]

Mining will  take more power of electricity as well as supper condition of matchines. By today mining is more popular because pice of bitcoins which are earned by mining is higher than mining cost.  

[dohh]

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.

You are wrong, mining itself would not be so costly. There is no need even for 1/10000th of this power, that is used for mining, to validate transactions and keep records. What makes it "expensive", is lottery scheme of rewards. Everybody tries to mine, driven by the high (speculative) price of coins. BTC is a scheme -  no more.

[bitfocus]

Yes, not only costly, but also time consuming, I prefer buying in low market.

[Haynes]

not expensive because it is not as expensive as what is in need right by a Bank Negara which is where we live.

as long as the electricity supply is still there and the tools to mine still a lot, then can not say expensive, can say expensive because of a rare and difficult to get.

[Kahoy01]

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, mining would take a lot of money to start up that is why you should be living in a more efficient places where the electricity cost is low yet the internet is fast and reliable. Another thing is the set-up of the computer, especially mining is high specification thing to do. As of now new innovative GPU's are being created and the price is quite expensive because in mining you will be needing a lot of powerful GPU.

[Ilegendph]

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.

The idea is that does what you got from mining gives you the money needes to pay for electricity and also for rate of return of investment. If the answer is yes then, you should stop complaining because business sometines requires huge amount of capital but also gives better profit. The profit that you may get also depends on the condition of where thr devices for mining is located. Mining is advisable to places which is cold and costs cheap electricity.

[TheClownSong]

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.

Demand on mining equipment increasing every years and peoples want to build their own bitcoin mining. Thats why equipment to build bitcoin always increasing the price. Electricity cost in several country different with others but i think its profitable to build our own mining because its passive income

[soltantgris]

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've heard that Bitcoin mining would become more and more expensive so it would be not executive anymore to mine it with not having a facility power, so this way the process of mining the last bitcoin would be far away from now.

[zhanyiguai261315]

Bitcoin is equivalent to digital gold and the price is close to the cost of mining. But the situation of Bitcoin may be more complicated, because the cost of electricity in different countries is different on a global scale, so the cost of mining bitcoin is still very different between different countries.

[Chanock]

Doing bitcoin mining is to expensive especially the mining equipment and other necessary tool that you need. Also mining fee nowadays and even before is to high. But rhe good thing in bitcoin mining is too worthcit and surely giving a great return from all ylur expenses used builting mining tools and equipment.

[sinta23]

Doing bitcoin mining is to expensive especially the mining equipment and other necessary tool that you need. Also mining fee nowadays and even before is to high. But rhe good thing in bitcoin mining is too worthcit and surely giving a great return from all ylur expenses used builting mining tools and equipment.

the current mining costs are so expensive. because the results obtained from the mining are also quite a lot. so it is not surprising that the current cost of mining is quite expensive. so we look first for future mining costs. because the mining also requires high voltage

[P_percy]

If someone is still thinking about starting bitcoin mining then the person surely has a great amount of black money,
Now with huge block difficulty, expensive hardwares, insane usage of electricity bitcoin mining is really a cumbersome process.