Are Mining Still Profit?

[wheelz1200]

According to me it’s good to buy some good coins than mine coin. Cause I've heard that currently mining is so hard and also very costly. So I decided that I will buy some coin.

If it's a choice between the 2 I think that is the right move.

[irixo10]

Mining is still profit for those using the high end equipments. Most times when people complain about mining being difficult I wonder; does it mean trading is that expensive? If you don't have the right tools forget mining and buy good coins that's the truth about it.

[mak013]

Mining is profitable you just have to know what to mine and be flexible to switch when need be.  Definately harder in bear markets, if/when markets turn it's a ton easier to profit daily but profit is still there to be had for sure.

As for me - it`s the best time to begin or grew up with used GPUs. They are really cheap and there lot of them at the market. If you well skilled in IT - it can become easy money.

[Galantin]

It all depends on the power. Let us say, news reached me that the President of Belarus would take a whole territory near the Nuclear Power Plant. Which of course will be profitable. After all, the energy extracted in this way is much cheaper. And they have outlived their small farms. Only on the enthusiasm.

[Kasperiko]

I think if one of us gets free electricity, like me, for example-small farm work on the sun power, then it’s necessary that if the market drops twice, then it will still be profitable for me to mine.

[lobat999]

Mining is still profit for those using the high end equipments. Most times when people complain about mining being difficult I wonder; does it mean trading is that expensive? If you don't have the right tools forget mining and buy good coins that's the truth about it.

Yeah, that is both simple and a good advice, since nobody wants to focus all his / her energy on a single endeavor such as mining to gain profit only to find out that its not as profitable as what it seemed. Conversely, investing a good coin would even surpass mining profits once that coin reach ATH but then again we should do research first before jumping on any endeavor because both are  risk taking activities.Imho.

[stfN2128]

Depends on your electricity price and a bit of luck. If you don't go to mine the mature coins you can try to mine some altcoins... maybe you are mining a future gem. if you are only mine to sell in an instant you have to try it by yourself. mine a day and check your return vs your electricity costs.

[Beyerd17]

Depends on your electricity price and a bit of luck. If you don't go to mine the mature coins you can try to mine some altcoins... maybe you are mining a future gem. if you are only mine to sell in an instant you have to try it by yourself. mine a day and check your return vs your electricity costs.

Nobody would know for sure what cryptocurrencies would be a future gem. If you pick the wrong ones, you might just end up wasting your time, electricity and hardware on a dead duck.

[Rtalk]

In my case, mining is profitable only because I pay an average price for electricity.
That is, I am engaged in mining or not - I pay the same price,so I earn a little...if I paid separately for electricity for mining, then I would have a solid loss.

[naska21]

Well, profitable alts are not always available, but appears from time to time. I remember a time when LTC mining was extremely profitable, then NLG...MNX.. and recent  GRIN, I say this from my experience. With all these alts all emerging  literally from the air the  experienced miner knows how to... sniff the wind.

[mak013]

Well, profitable alts are not always available, but appears from time to time. I remember a time when LTC mining was extremely profitable, then NLG...MNX.. and recent  GRIN, I say this from my experience. With all these alts all emerging  literally from the air the  experienced miner knows how to... sniff the wind.

There was about only about a month when i mined ETH. There are always any shitcoin, that possible to mine with a higher profit. The best i remember was XSH, that i mined with just 1 rig at the start about a day. And just forgot to sell it until it`s huge pump.

[royalfestus]

In the bull market everything looks fine, everyone is happy because profit is everywhere. At mid 2018 mining was already tending to loss,when the price was still above $6k. Some miners were able to build a better power supply from profit in the bull which reduce the running cost of mining. At a point no one was getting any profit even with all means of re-mediating the cost of production. All tools were sold out of frustration but I know thing will get better soon

[lobat999]

In the bull market everything looks fine, everyone is happy because profit is everywhere. At mid 2018 mining was already tending to loss,when the price was still above $6k. Some miners were able to build a better power supply from profit in the bull which reduce the running cost of mining. At a point no one was getting any profit even with all means of re-mediating the cost of production. All tools were sold out of frustration but I know thing will get better soon

Miners did experienced a setback especially during the crypto winter of 2018 but some of them who have long term investment strategies often consider it to be still profitable and I think that perception would materialize and will be proven once we enter a bullish period again.                                                                    

[Babbylily1112]

Mining is not profitable at all, have actually stoped cos I noticed it ain't worth it any more. The last drop in Bitcoin has contributed enormously to the factor affecting mining

[Beyerd17]

Mining is not profitable at all, have actually stoped cos I noticed it ain't worth it any more. The last drop in Bitcoin has contributed enormously to the factor affecting mining

What are you talking about, Bitcoin went up from about $4000 to over $5000, and is currently priced at $5255. So no drop, it's actually rising. Some coins are still profitable, depends on your hardware.

[Psynthax]

Mining is not profitable at all, have actually stoped cos I noticed it ain't worth it any more. The last drop in Bitcoin has contributed enormously to the factor affecting mining

That's right and that's why so many big mining companies are closed their service. remember they buy GPU when it reaches expensive price and the price of crypto was dropping before they can even get their ROI.
this time how profitable your mining depends on your hashrate.

[minersday]

Mining is definitely still profitable. Just like any investment opportunity, having good strategic plans help you know how long to invest and earn good amount of profit. Mining is a long term something. You will not making profits after just a week of setting up a mining rig. It is a long term avenue. You just need to understand and invest in it as a long term project.

[79b79aa8d5047da6d3XX]

Minning bitcoin and major Alt coin is not as profitable as it used to be agaun. To make good profit from minning its advisable that you go into minning of undervalued tokens. You can mine a large chunk of it and sell when the price rises

[Rtalk]

Now mining has ceased to bring a decent profit due to the fall of the market and the fact that video cards lose the competition to ASIC devices.
I'm just tired of switching from one algorithm to another.If in the near future there will be no prerequisites for the growth of the market-I'll just sell my graphics cards.

[superstarbtc]

Minning bitcoin and major Alt coin is not as profitable as it used to be agaun. To make good profit from minning its advisable that you go into minning of undervalued tokens. You can mine a large chunk of it and sell when the price rises

Of course, the undervalued token is good for mining but whether it will be helpful to make a good amount of money or not we have to find out because without potential activity and developments from the team will lead to waste of time.