Bitcoin mining is costly...

[InvestICO2L]

Yes, now bitcoin mining is costly. The fee in mining bitcoin now became high and not only the fees, the price of electricity now became high and the equipments in starting up a mining machines also high. And in addition theres so many mining sites now. So you will gain income a little nowadays in mining not just like before.

Mining consumes a large amount of energy, electricity, so it goes without saying that it costs a big amount of money too. In my country, from the beginning of 2018, the government  claims that the price of electricity would increase to those who use tools, machines for mining. Indeed, mining is pretty hard and tough job, but if you’re a profession, you are able to get significant profitable. I prefer trading and investing to mining, because I reckon that I’m more interested in trading than mining.

[Bitcoinnumberone]

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, it's true that if you mine bitcoin it consumes a lot of electricity and if you have not a high a large processors you mine a little so you need a lot of effort to mine bitcoin, High technology laptops, computet upgrades so a lot of money but if you mine it your investment to buy equipments will return.

[Chaelbrin]

Mining is assessed distinctively in various nations. It relies upon the cost of power from the cost and nature of hardware. In any case, I believe that the cost of the digital money isn't influenced by This exclusive influences the quantity of bitcoins mined. The cost of digital currencies relies upon different elements. One of which is free market activity.

[DoublerHunter]

It is true that if you want to mine bitcoin then you need a lot of money because the equipments or the mining rigs for bitcoin is not that cheap and you need to invest a lot of money and you need to wait for a medium to long term if you want a good return because it is not like the other investment that you will be gaining a lot of money in your first month.

[CryptoSmile]

Bitcoin mining does require a very high cost, so that only certain people who can do the mining. But indeed the results obtained are also very high so that although the mining costs are large but still done some people to produce far greater profits. But I think investment will also be able to generate huge profits and we can do with the cost adjusted to our ability, for that if not yet able to do the mining because it collided with the cost, then the best way is to invest, and I have bought some bitcoin and already feel the benefits that I think big enough through bitcoin investment.

[banoi]

If there is no charge what does not dig. However, it may be difficult to invest in equipment and costs

[AlexAtom]

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.

It is costly because to mining bitcoin now, you need the latest asic miners to earn max profit. The latest = the most advanced and most expensive.
The electricity cost of asic is more than GPU mining i think. So, no wonder that bitcoin price is very expensive than any other altcoins.

[JeramiParan]

If you really want to engage mining you really have to prepare real amount of money just to set-up a mining rig for better performance you have to use the most sophisticated and advance mining tech for high chance of mining success, getting up mining tools really expensive and it really cost electricity.

[cammie16]

If you really want to engage mining you really have to prepare real amount of money just to set-up a mining rig for better performance you have to use the most sophisticated and advance mining tech for high chance of mining success, getting up mining tools really expensive and it really cost electricity.

Yes, it is really difficult to get good profit in bitcoin mining so it really need a very high specs of mining rigs. For me it is better to mine altcoins compared to bitcoin but this is still depends how you will build the mining rigs.

[nydiacaskey01]

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 is costly specially if you live in a country where electricity don't come cheap. Add the weather condition, if you live in a tropical country, that's another extra cost for you since you need to have a good ventilation to keep the rigs cool and that's another cost to add to your electricity cost. Plus man power, you can't man your rigs alone, you need someone to look after your rigs 24/7 and that's not free as well.

[iamike]

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 is indeed very expensive especially the cost of electricity consumption. The machines require a high voltage and constant electricity supply. I really like the idea behind the 4NEW project. It aims at cutting the cost of electricity used in mining.

You can read more about their project at https://4new.io

[pocketfullofpoke]

Making mining rig is really costly as it requires a very good specifications of your hardware and a heavy duty piece of machine be it an ASIC miner or GPU miner. Although it is costly, but it can give you profit while you're just sitting back and doing nothing.

[almaroof]

Mining is too cost most especially for those of us in less developed countries facing poor economy and lack of eley

[Peter Bailey]

Currently bitcoin mining uses specialized computers called ASICs which are specifically designed to solve the puzzles requires to mine bitcoin. Due to their specific nature, the machines are custom designed and manufactured. As they are not mass produced, they cost more to buy.

[Afnan_faizah]

The minning tools it self is very expensive and the infrastructures that must be prepared also expensive. I give up with bitcoin minning at this time, now I more focus on masternode coin like CAZ and etc. I heard that mine altcoin like ETH or etc is more profitable.

[Funeral Wreaths]

The minning tools it self is very expensive and the infrastructures that must be prepared also expensive. I give up with bitcoin minning at this time, now I more focus on masternode coin like CAZ and etc. I heard that mine altcoin like ETH or etc is more profitable.

indeed it is really costy and if you don't have enough money to support or sustain that business you cannot really keep on going. that also depends if you have your resources available already for work so you can use that up and try to make money for it.

[JASON@BTC]

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, one of the factor that makes bitcoin`s price so mad is because of its high cost in the electricity. Other factors may be specified such as equipment, computing power and etc; not mentioning the manpower used to operate this rigs. However, it is not advisable to engage mining of bitcoin right now, it would potentially result to loss due to fixed amount of mined coins. Thus, ICO will be better than mining.

[asus09]

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 true, but I think you have less knowledge about mining and its techniques.
I think if you are interested I suggest you should discuss more at the mine board, there are many who share knowledge for easier in mining.

[Giles Goodman]

It is the law of supply and demand.

At the moment, there is a mining rush going on with fewer hardware available to fulfill the demand of the requests to buy more. Hence, the ASICs are sold at the premium.

Another indication is when sellers are taking advantage of this situation and they are offering the old models almost at the same price of the new ones.

[Ava Duvall]

of course its expensive, but its an invest of time and money but its worth it in the end if you make the right investment decision.