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ivaf
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March 24, 2019, 12:15:31 PM |
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Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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landoffaucets
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March 24, 2019, 12:24:02 PM |
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Maybe the best solution for you is to stake cryptocurrencies. For example NEO, Ontology or VeChain give you some coins if you stake them. So it is a good combination how to invest and mine in same way.
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mrdeposit
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March 24, 2019, 12:53:27 PM |
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Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.
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bendernine
Member
 Offline
Activity: 272
Merit: 10
Easy Digital Payment for the Future
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March 24, 2019, 01:09:44 PM |
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Sometimes you can mine a coin that just started, and network difficulty is low, and it is not yet on exchange, I was lucky a few times, but the last time it was a year ago or even more. Most often I mined trash.
just as I was mining the coin in 2017 is a waste in my opinion because what I get is only coins which in my opinion are useless and worthless as if I had to be more careful in mining this year it might be difficult to find coins I think it's good this year even if I get it, maybe it's luck for me. |
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HappyCaptain
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March 24, 2019, 01:35:17 PM |
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i only a few knowledge about mining but base on what i on discussions, most of the miners is targeting new coins that has a strong team with a big community support because it has big chance to grow its price in the future while mining well-known coins in the market needs a big capital to set-up a good mining rig. it would be easier to just buy the coin directly on exchange and store it on a safe wallet that you owned the private key.
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uralcryptocoin (OP)
Sr. Member
Offline
Activity: 1042
Merit: 328
SIGNATURE CREATION by uralcryptocoin
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March 24, 2019, 01:37:39 PM |
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Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.
I would no be so sure. For me mining is still profitable, I already paid back my hardware cost and got some profit. And my electricity is not free. But if I bought coins instead of buying GPUs I could made much more profit |
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. |
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BitcoinTurk
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March 24, 2019, 02:13:17 PM |
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Although I don't have a mining experience, there are a few small details that I would like to point out. First of all, it would be a more sensible option for small investors to buy coins only because the small investor's budget would not be enough for easy mining equipment. On the other hand, there is a strong capital needed to generate significant revenue in the mining process, which prevents many investors from entering this area. Even though I think it would be fair to examine two options with equal budget, I think the mining process is more difficult when we compare the details. As a result, most of the market is composed of small investors.
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pieppiep
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March 24, 2019, 04:11:47 PM |
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Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.
cryptocurrency price conditions are currently being affected by the fall in bitcoin prices and weakening bitcoin demand, when demand in the market has started to increase and the price of bitcoin is starting to recover, the price of all cryptocurrency will also be expensive, if you buy tokens I suggest you be careful because tokens have a very high level of risk. |
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bitc0000
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March 24, 2019, 04:26:56 PM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
Buying seems to be more profitable than mining for me because I compare earnings with friends and see I am better off. Currently, I now take some of my friends in trading classes since they now run at loss on mining |
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kleshovab7
Jr. Member
Offline
Activity: 238
Merit: 1
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March 24, 2019, 04:52:12 PM |
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Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!
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Asatur
Legendary
Offline
Activity: 1246
Merit: 1000
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March 24, 2019, 04:55:29 PM |
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Some cryptocurrents are no longer beneficial for mining. If you do not have huge farms with free energy. Even Ethereum is getting harder with each fork.
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uralcryptocoin (OP)
Sr. Member
Offline
Activity: 1042
Merit: 328
SIGNATURE CREATION by uralcryptocoin
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March 24, 2019, 06:09:05 PM |
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Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!
But could you tell just two examples of coins that were more profitable to mine than to buy? And boxes should not be too much because in that case they will be small boxes |
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. |
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cytpoway121
Member
Offline
Activity: 1540
Merit: 68
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March 24, 2019, 06:11:41 PM |
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Mining is expensive to handle and I have always had that in mind
Unless you have a huge capital; mining is really not for you
How about trying to invest in altcoins ??
Short term or long term trading will be smart
Dyor.
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uralcryptocoin (OP)
Sr. Member
Offline
Activity: 1042
Merit: 328
SIGNATURE CREATION by uralcryptocoin
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March 24, 2019, 08:29:54 PM |
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Mining is expensive to handle and I have always had that in mind
Unless you have a huge capital; mining is really not for you
How about trying to invest in altcoins ??
Short term or long term trading will be smart
Dyor.
Mining is not only expensive but also requires special knowlidge in IT sphere. It can be good hobby. Making cases, constructing cooling system etc. But it's not the profitest way of making money. Home mining goes to the past. Now mining becomes an industry |
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. |
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yobo2020
Jr. Member
Offline
Activity: 156
Merit: 2
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March 24, 2019, 08:42:55 PM |
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I prefer to buy altcoin than mining of altcoin because you have to learn mining, it takes time to mining and it requires more money before you can start mining. But I believe the stress in buying is less compare to that of mining.
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serhanni
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March 24, 2019, 09:11:59 PM |
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I wish I bought some coins instead of buying mining rig. Since I have a kid, I feel that mining at the home is not safe at all.
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Ultimist
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March 24, 2019, 09:50:04 PM |
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I'm not really used of mining, but I think that buying coins will be better. At least now the extraction of coins is no longer profitable, you need to have a lot of money to buy good equipment, as well as a lot of time to pay off.
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levvv
Member
Offline
Activity: 532
Merit: 17
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March 25, 2019, 01:58:00 AM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
Your conclusion is plausible, mining coins with PoW is not too profitable for now. This is because the market in bearish, makes most coins value not to worth to be mined. Many miners won't be able to cover the electricity fee due the cheap coin price. |
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Xenrise
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March 25, 2019, 02:00:55 AM |
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If you have to money and if you wanted to mine altcoins, do it. But I think that it needs for you to have a lot of money in order for you to mine this. Because you need some rigs and some other component for you to mine alts. The risk you needed to consider are the electric bill you needed to comply, and what if your setup breaks.
If you can risk a lot, why not do both?
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Amalker
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March 25, 2019, 05:09:47 AM |
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Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?
Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
Agree with you. Mining is troublesome business, always needs to monitor your rigs. And profits is not so big. As for me much more better way to invest in crypto in middle-long term. |
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