Bitcoin mining is costly...

[paulparkker]

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.

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[nguyenhoven]

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.

they're costly, but they're the only option to mine bitcoins. As with everything, bitcoin mining is more profitable for large mining farms that can buy cheaper miners and cut their electricity costs

[karinaloren]

Yes, I have also heard that mining today is nor feasible. Some local authorities even introduce different special rates for miners. For example, in NY miners will pay more than average consumers.

[Renai0925]

Right now, mining bitcoin are only for those who create large mining farms. These mining farms then lease their hashing power for more profits. ASIC machines are very pricey. And locations should be taken into account where electricity is the cheapest.

[Winterwood21]

Mining requires enormous capital and in-depth knowledge in cryptography, it is what causes only large companies that can do mining because they certainly have high computer specifications. if you do not want to take the risk then it is better to join BTC trade only.

[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.

Bitcoin is proof of work and using blockchain system. Its need miner to keep data transaction 24/7 days. Mining cost can reduced in several country because electricity cost much lower than others. I am reading news that to produce 1 bitcoin in Iran, need $600 to pay electricity bill

[pumbum]

reducing the cost of production will saturate the market with cheap bitcoins, which will affect the fall in price and since the market quickly balances everything, we will see a fair price again. long-term investors will suffer from it, and it will be imperceptible to new ones. Therefore, such a solution is beneficial only for energy companies. Although it may not be beneficial for them to lose consumers. Therefore, they are interested in the high cost of bitcoin mining

[p4npos]

Any sort of Cryptocurrency mining is expensive. You have look invest in a lot of parametres. You have to buy the hardware, acquire the legal requirements, cover the electricity costs and hire experts to look after the whole process. You also have to acquire a proper safe place for the installation.

[lanalang]

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 is very expensive now. Miners spend more on electricity than do bitcoins. And in the future it will be even more expensive. If the bitcoin price stabilizes, and enough miners come to this market, in the near future, you can expect a fivefold increase in their energy consumption.

[kingofworld92]

Plus the power of the man, you can not man your rig alone, you need someone to take care of your rig 24/7 and that is not free as well. Other factors can be specified as equipment, computing power and so on; Not to mention the manpower used to operate the rig. Therefore, ICO will be better than mining.

[frickshow]

Mining is costly because of expensive hardware,mining rigs also electricity price mining is not possible for everyone but who can get these hardware with cheap price,low cost electricity and proper market research then mining is possible. if peoples think they can't mine bitcoins so how market get supply and how fulfill demands of buyers.

[armarsterling7]

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 do not think it is expensive. Although it uses a lot of power to dig up coin, the value it gives is very high when Bitcoin is at $ 7k3.
I feel this is a promising mining industry. Although the number of coin has increased to 17 million, there are still plenty of opportunities for us to get rich. I am intending to import Bitcoin diggers.

[TheAndy500]

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 is true only if we are trying to mine ony by ourselfes. If we are trying to make something with some people it could be easier and it could lead to profits after some time of mining.

[TanteStefana]

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.

If you are a miner you should know something like this before. Mining bitcoin should have a lot of capital besides the cost of electricity should be considered, so you will know the profit in the future you can get when you start.

[gbsray]

Nowadays minig realy become more expensive. Calculations are becoming more and more difficult, the number of miners lately has grown at many times. As for me i think to stop minig BTC in near future.

[naveenchandradasa]

yeah, mining bitcoin is costly. Because it wants a lot of power for mining. In early times there was not required very high-performance utilities for mine bitcoins. But now, the situation has been changed. Miner should have high performed utilities for mining. And also it requires a lot of energy. So why I told mining bitcoin is much costly.

[robertdhags]

yeah, mining bitcoin is costly. Because it wants a lot of power for mining. In early times there was not required very high-performance utilities for mine bitcoins. But now, the situation has been changed. Miner should have high performed utilities for mining. And also it requires a lot of energy. So why I told mining bitcoin is much costly.

even though that it cost too much the coin that it can be provide for you and take for you are so much worth for your taking the cost of mining the tools and also the electricity provided by dont look how much or how is it can be think for that it can help the community of bitcoin as well.

[Samaaliu]

Bitcoin mining is actually very expensive. For you to really mine something tangible you need to be able to buy the expensive machines and be able to afford steady electricity.

[farukahmed]

Now Bitcoin mining is very costly because you can buy good product for mining buy you can't  get profit from Bitcoin mining. now out put service will not to be better for Bitcoin mining.

[richkid3001]

bitcoin mining is costly....If you actually hook the 1080ti's up to a PC you can control the power draw in a major way, it would probably save you hundreds of dollars a month on electricity for mining.