Can Cryto Mining recover in the future?

[erickkyut]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

[pakhitheboss]

With the market showing an upward trend, Bitcoin mining will be a profitable business when the value of Bitcoin is above $10000. I understand that the amount of Bitcoin that you are getting now is very less as compared to the old days. But the cost of Bitcoin was not much at that time.

The mining business is correlated to the FIAT value of Bitcoin. When the price was less, you were getting more Bitcoin and when the price is going up you are getting less Bitcoin.

It will not be easy in the future, but it will be better to what you were making a few years back.

[Beerwizzard]

You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

So in other words: you could quit your job just in order to stay at home and do nothing. That could be your general activity because running a small rig at home does not require much time to maintain it.
With the same success, you can now regret about times when you could mine some BTC just on your shitty laptop.

With the market showing an upward trend, Bitcoin mining will be a profitable business when the value of Bitcoin is above $10000.

Bitcoin mining is still profitable simply because we can still send transactions. The existing mining farms would be turned off as soon as mining would require more money than it brings.

[serjent05]

With the market showing an upward trend, Bitcoin mining will be a profitable business when the value of Bitcoin is above $10000. I understand that the amount of Bitcoin that you are getting now is very less as compared to the old days. But the cost of Bitcoin was not much at that time.

The mining business is correlated to the FIAT value of Bitcoin. When the price was less, you were getting more Bitcoin and when the price is going up you are getting less Bitcoin.

It will not be easy in the future, but it will be better to what you were making a few years back.

When Bitcoin is above $100000, competition with mining increase.  I can see the same scenario of mining as ever increasing hashes and difficulty thus the increase in price is negligible when it comes to profiting in mining industry unless you own a huge mining farm to compete against other giants in the field.  The mining industry had already been monopolized so small miners will take little to nothing profit.  And if the person is living in a country where electricity is too high, he can forget about mining already.

[stompix]

~

So in other words: you could quit your job just in order to stay at home and do nothing. That could be your general activity because running a small rig at home does not require much time to maintain it.
With the same success, you can now regret about times when you could mine some BTC just on your shitty laptop.

Pretty well said!!!

It like people saying that the gold mining business is dead cause you can't find one pound gold nuggets in the river bed anymore.

bitcoin mining is diminishing

Nope, bitcoin mining is not "diminishing".
Hashrate is up 10 times from two years ago, millions of miners (as in mining gear) are hashing 24/7, and this time we might even get a 5% increase in difficulty.

What is diminishing is the dreams of getting reach with a video card hashing while you sleep

With the market showing an upward trend, Bitcoin mining will be a profitable business when the value of Bitcoin is above $10000.

Bitcoin mining is still profitable, even the old s9 are quite profitable now.
$70 a month with not so cheap 7 cents per kwh for gear that was sold at 300$ a few months ago?



 

[okala]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

In cryptocurrency any thing can happen at any time I still remember back then in 2017 must miners were making huge profits from they mining farm and lots of people saw mining at that time as the must lucrative venture in the crypto industry
 But this day the situation is different and the market is no longer profiting but I believe in the near future bitcoin mining is going to revive again.

[Om.monata]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

maybe if the price of coins going up in crypto mining can recover, this happens because the costs of mining and profits cannot be balanced, there are a lot of minus or losses. the main thing whether mining can come back is to wait until the cryptocurrency price is stable in a high position. that's the main key

[uneng]

Mining became too expensive due to high electricty costs and greedy asics traders. These equipments are very expensive and after some time they are already worthless to mine bitcoins, as there will be a new asic model on the market as soon as possible.
I believe someday mining will worth again, as we are reaching closer to renewable sources of energy, this way it's one less cost to operate a mining business. However the initial investment has to be huge anyway, and the asics will continue expensive and indispensable.

[franky1]

crypto mining is functioning fine.

the negative is that not everyone can be a constant winner.
its always a competition

this means the bottomline threshold has to rise. not everyone can win so all the home hobbiests thinking they can get rich quick at home running a cellphone app wont get far. as the hashrate/difficulty is way way way above the old CPU mining days.

same with gold. its no longer the days of pickaxes. its the days of excavators

those that are not living in the right region to have access to cheap electric wont prosper bitcoin mining
those that are not living in the right region to have access to cheap diesel wont prosper gold mining

those not able to invest in the best, most efficient equipment to compete wont prosper bitcoin mining
those not able to invest in the best, most efficient equipment to compete wont prosper gold mining

[rdluffy]

There is a lot of people mining with profit
It's harder to "amateur" miners, because now there is a lot of companies who start mining in countries with low cost energy

But it's profitable if you pay something like 5 or 8 cents per Kw and probably will be at least for a couple of years

[Ayiranorea]

crypto mining is functioning fine.

the negative is that not everyone can be a constant winner.
its always a competition

this means the bottomline threshold has to rise. not everyone can win so all the home hobbiests thinking they can get rich quick at home running a cellphone app wont get far. as the hashrate/difficulty is way way way above the old CPU mining days.

same with gold. its no longer the days of pickaxes. its the days of excavators

those that are not living in the right region to have access to cheap electric wont prosper bitcoin mining
those that are not living in the right region to have access to cheap diesel wont prosper gold mining

those not able to invest in the best, most efficient equipment to compete wont prosper bitcoin mining
those not able to invest in the best, most efficient equipment to compete wont prosper gold mining

What's mentioned is the reality with mining. It's been more than a year stopping my mining rigs. As stated one needs to be in a region with access to cheap electricity, only then mining can prosper. I never thought about this, but after making an investment it isn't profiting and when I went to sell back the equipments I didn't get even ten 50% of my investment on the mining equipments.

[kryptqnick]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

I think that mining is a good idea when the price is constantly high or when people are so devastated that enough miners already left the market to affect the difficulty rate in such a way that will make mining profitable even when the price is not great. 2018 and almost half of 2019 do not qualify, because people weren't hopeless enough, I guess. As for now, I think it still makes more sense to simply buy Bitcoin and HODL rather than invest in equipment and regularly spend time on mining. The profits simply from the price going up are more reliable and pretty sufficient for this investment to make sense. Once Bitcoin fully recovers, I think mining will make sense again.

[Ailmand]

Mining plays a vital role in crypto industry. As for me, they would still recover in time. It will still be profitable when Bitcoin's price would increase and provide us with promising value. I believe that things will get better for the mining industry in the future because we couldn't eliminate it since it's necessary to balance the supply and demand of cryptocurrency.

[shinharu10282016]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

To be honest, its one of the greatest things that you could probably get money from easily as long as you have the power to maintain a rig to mine for you 24/7. But with the number of miners existing after it went well increased exponentially leading to reduced income and greater expenses which I say is one of the reasons many people stopped doing it.

[rdbase]

It is alot different now then it was when you first heard about mining crypto whether it be bitcoin or one of the altcoins. It is nearly impossible for you to get back your investment in a miner if you were to solely mine bitcoin. From electricity costs to the difficulty going up every week and then after the halving of the reward block will make it worst for those who have farms of these asics mining for it.
With altcoin mining it is a different story as there are many coins you can mine and be in profit even with electricity costs included in your daily earnings. You just need to find cheap equipment so to build your rigs and have electricity under 0.10 kwh for it to be achievable for someone to make a profit after about a year of doing it.
Once again all depending on the coin you choose to mine and when it is ready to exchange them into bitcoin or whatever it is you are wanting to do with it.

[diazepam666]

Mining efficiency will define the market 75 percentage because the new ASIC and cards are launching one by one to make their profit stability but the miners profit stability is falling like something.
I suggest if you stop buying the new higher end cards and asic machine then we can make the better mining business in this crypto marketplace.

[Genemind]

I believe yes, and I will keep my hope for mining. If there would be a natural electric supply which could save more energy with a low cost, mining would be more profitable for miners.
The price of bitcoin also matters so if it strikes high, they will surely recover well.

[SaShiRaJaVu]

I remember the days when I was starting in the crypto world. One of the in-demand that time is crypto mining. Some people are buying and setting up their own mining rig. The income that time from mining was very dependable. You can quit your job and just focus on mining but nowadays, bitcoin mining is diminishing due to the high cost of operating expenses and it is really hard to mine bitcoin.

I'm just wondering if there is achance for the crypto mining industry to recover in the future? Not just about Bitcoin but on other coins as well. What are your thughts?

If you had a good career as a professional then there is no way you would quite that and start mining for a living as it was evident that it will not last forever when industrial mining was a scope even during that time, if someone could make money from home, do you think people with deep pockets will sit idle, they invested heavily in these and so is the reason bitcoin mining is for large scale investors and you think the time will come so that you could mine at home, never  .

[ene1980]

I believe yes, and I will keep my hope for mining. If there would be a natural electric supply which could save more energy with a low cost, mining would be more profitable for miners.
The price of bitcoin also matters so if it strikes high, they will surely recover well.

The miners are still mining simply because it is a profitable endeavor for them with the huge investment they made, if you have the right machine and cheap electricity you could make money but the problem is that, technology is improving by the day and you cannot sit on your million dollar investment when a new powerful machine gets released, so it is a highly competitive field with high risk.
@OP mining wont be a house hold process in the future.

[bitcoin-shark]

according to me mining is not worth more nor for bitcoin nor for altcoin it has become too expensive, it is worthwhile only if you have almost free energy...