Bitcoin mining is costly...

[As roma]

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.

I think the price of cryptocurrency is not affected by this only affects the amount of bitcoin being mined. The price of cryptocurrency depends on other factors. One of them is supply and demand.
Mining is evaluated differently in various countries. It depends on the price of electricity from the cost and quality of the equipment.

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[Gramna]

To be honest, I do not think that Bitcoin mining is still a good business venture nowadays. Yes, I understand that the cost are really high, maintaining the equipment and the over all process. It also takes longer time before you can mine a coin, it is not going to be profitable in the long run.

[Naughty Princess]

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.

Everyone knows this already. You must spend a lot of money on super mining computers and electricity for you to mine very well.

Though it is that expensive, miners are choosing that way to earn because it is continuously running and generating more bitcoin even you at asleep. Do not have to work and give all your effort on it and earn huge even the electricity become costly. You can spend a lot on it first but it will stay for you to work in the long run unless it is being damage.

[pooja1982]

Bitcoin mining is costly because its mining consumed a lot of electricity and this time bitcoin price is going down. And some of factors which increase the cost of mining that is price of electricity from the cost and quality of using equipment effect the cost.

[CoinsGazer]

The Guardian reported during November that the bitcoin network consumes 30.14TWh a year, which not only exceeds the usage of Ireland but also that of 19 other European countries.

[marcbitcoins]

Yes indeed costly but sure earnings. There are lot of ways to save energy during mining although costly but its a lifetime savings by using the renewable source of energy like the solar energy panel in which you can assemble as many of this just to have an enormous amounts of energy  for free.

[Master of Shitcoins]

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 the consumed amount of electricity for mining gets lower, we will see more miners joining the network and increase all the hashrate. Mining is a difficult and costly process..

[Qweenty]

Yeah bitcoin mining is very expensive and this is all because of the required equipments that you wil need in order to start mining of bitcoin and also issues of high energy consumption also comes in. This is why most people are getting into running of masternodes.

[DaWidyaa]

Yes, in my opinion it is also like that, mining is very easy and gets results, but what about capital, such as electricity costs, internet fees and if there is damage to the equipment, it is equally not profitable and even detrimental to me.

[jeffer8035]

I think bitcoin is like this, the more difficult it is to mine, the more valuable it will be and so they will not be able to manipulate it because they will always see that percentage that will be difficult to control much of the bitcoin whenever they try to mine faster. algorithm will change and its difficulty goes up so it is better to leave it as it follows its natural course

[gulshan1]

Price of bitcoin is very high due to the huge demand and popularity in the whole world that's why every body wants to mine the bitcoin. Daily bitcoin mining   quantity is fix and every day miners are increasing and demand of bitcoin hardware is increasing the price which is very higher as compare to the last  four years. Now bitcoin is mining less and consumption of electricity of is more which effects the cost of bitcoin.

[MAJICOIN]

It is true that now bitcoin mining is very costly even it can not fulfill your expenses of electricity etc but if you come for Ether or other coins there is a chance to mine for earning that coins and it is very good way to earn coins through this way and it is the most useful way in that countries where electricity is less expensive.

[bayu7adi]

if you are a miner, then you sell BTC at the current price, of course you will lose
you should HODL for a certain period of time, so you can get a bigger profit,
the money needed to buy mining tools, I think it is more effective to use daily trading with 2% profit per day. I think it's enough

[bright07]

Bitcoin mining is not easy work. It require many things like storing system, electricity, internet connection and a good computer operator who must have a good knowledge and experience about mining. At present bitcoin mining is costly as compare to past 2-3 years.

[jademacoy]

Yeah setting up or mining crypto requires a good internet connection and aside from that there are specific hardware that could accept and acknowledge to lo learn  more since since the gadgets and other player equipment. However, having a bitcoin mining still benefits the one who own the mining equipment. And if you have some time then earn BTC a good time one time profit.

[ashaksagnis]

I think that mining is not the most profitable way to earn money for now. But if everything improves then there would now be a good bride to buy good video cards. Because the demand is now smaller, and with it the price is cheaper.