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Author Topic: Mining before and after  (Read 95 times)
NikalaiGoglinski
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August 23, 2018, 08:04:41 AM
 #1

What do you think, is mining still a big-income business or it's useless to start it up right now?
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ElikoMasw
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August 23, 2018, 08:07:10 AM
 #2

What do you think, is mining still a big-income business or it's useless to start it up right now?

I think mining was good like 5 years ago, but not anymore
Waradlain
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August 23, 2018, 08:39:00 AM
 #3

It's enough to read news like this to answer your question:
Crypto business of the world’s largest graphic card and chip maker Nvidia is dead. As the demand for GPU mining has declined, the company will now focus more on computer gaming, artificial intelligence, and data processing sectors.
https://www.coinspeaker.com/2018/08/22/nvidia-says-goodbye-to-crypto-business-but-stays-in-the-game/

I don't think this is some kind of sneaky trick. Mining just no longer pays off.

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Malaokhan
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August 23, 2018, 09:53:27 AM
 #4

What do you think, is mining still a big-income business or it's useless to start it up right now?

My advice is not to start mining now. its already pointless
pwchan001
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August 23, 2018, 11:30:12 AM
 #5

I also agree that mining is not as profitable as before. If you want to make some money in crypto market, I suggest you invest some money into projects that you think is promising.

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nareal109
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August 23, 2018, 11:58:53 AM
 #6

Personally, mining is the safest way to earn BTC, but the price of miner-machines so high, and the profit is small. If you don't have much money, investment is a good choice.
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August 23, 2018, 12:18:57 PM
 #7

In the industry today you have to mine at scale to make serious money. 
People forget that people were mining with asics well before the price jumped up and will continue to do so untill around 2140 long after all the members here are dust so do I think it's a good time to get into mining.

short answer yes..

Reason..  right now you can buy a lot of miners if you hold a fair amount of coins why not put them to work and build a farm with some friends split the costs the last bitcoin won't be mined untill around 2140 so the miss-information you read about oh don't mine its useless is crap..

I would say if you are into bitcoin for the serious long run and not just here as its the "boom word" right now then yes get into mining as you have a lot to learn if you are still wondering if it would be a good idea to mine or not.

2nd as already predicted the price of a single bitcoin should in theory be close to 10 million once they are all mined out!   as the total amount of coins 21 million is equal to the total wealth of the world..   so it's by design not by accident.
do not forget this. and happy mining!
U2018
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August 23, 2018, 01:16:23 PM
 #8

Although mining is a very profitable industry, its risks are now increasing because of the continued downturn in the market! Because the price of Bitcoin is very close to the starting capital of mining!
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August 23, 2018, 05:07:56 PM
 #9

Although second hand GPUs and mining rigs are cheap now, it's useless to start mining because you can hardly reach ROI.
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August 24, 2018, 02:43:59 PM
 #10

At this point in time, I would not advise to invest in mining. It would be better to buy promising tokens and HOLD them.

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darkangel11
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August 24, 2018, 08:22:24 PM
 #11

It can be a decent investment if you like doing it, have a safe place to do it, and if you're not planning to mine BTC Cheesy
It works like this: BTC is that safe investment, a coin that is bound to go up in value, so if you mine it you will get profits, but the equipment is expensive.
Altcoins are easier and cheaper to mine but they may never go up or you may end up mining a dead coin or a coin that is a scam.
I think that risk in mining is much higher than in trading or holding.
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August 24, 2018, 09:22:19 PM
 #12

I would stay away from mining at this point.  You need a large amount of capital if you even want to be competitive and it's not even worth it unless you have super cheap electricity.  There are many government linked mines that basically have free electricity so those are the guys you will have to compete with.  Difficuluty is continually rising while prices remain stagnant. 

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August 24, 2018, 09:37:24 PM
 #13

Mining is pretty much alive these days, though just not that appealing for regular consumers looking to get something extra out of a small capital. If anything, it's only the big pockets who are benefiting from the mining scene and they're the ones really pushing for their expansion. You can still mine though not particularly bitcoin, perhaps any other coin with a bunch of graphics cards and it can still give you quite a decent amount of profit in the end.

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August 24, 2018, 09:50:01 PM
 #14

What do you think, is mining still a big-income business or it's useless to start it up right now?
It is when you can be a big player. To be big player you must have access to big funds and hardware supplier that good that will develop new smaller and smaller chips for you.
Its so unique position to be, that only few in the world can really compete in this market.

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August 24, 2018, 10:49:55 PM
 #15

Before, mining is just a hobby they don't actually look for a profit instead they are contributing to the network.
But last year after the price have increased significantly many people start mining business that makes a profit until December but this year altcoin mining is not really profitable in most places where the electricity rate is really high. So, only people who still mining are people who live in a low electricity rate or people who use a free power source are making a profit but it takes 1 year in a half before they get the breakeven of the ROI.
For ASIC miners there are many new ASIC hardware that can make you more profit than old ASIC miner.
Check this site https://www.asicminervalue.com/ you can see the list of profitable ASIC miner.


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August 25, 2018, 02:44:50 PM
 #16

I think that there are two ways to start mining. You can invest a lot of money and mine bitcoins or you can mine different altcoins on your own computer that have ASIC protection or just didn't appear on exchange like jsecoins.
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August 25, 2018, 03:03:42 PM
 #17

What do you think, is mining still a big-income business or it's useless to start it up right now?

I think mining was good like 5 years ago, but not anymore

I am convinced that there are still some who remain loyal because they have been plunging for a long time but it is true that mining is now in a rather ugly period and has not returned to its time.

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August 26, 2018, 06:09:44 AM
 #18

You can still have a fair amount of profit mining. Yes, the situation is not ideal, but that can change quickly. You can easily calculated your average daily costs, which depend on the rig and the country you live in (electricity costs). Look around for different algorithms. Also, that shouldn’t stop you from buying some perspective altcoins.
Yes, mining is not dead

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