Time to get back into mining?

[gaston castano]

I think this time is not a good time. large electricity costs and too long to be profitable. the best way now is to buy some altcoin and trade daily. maybe with this you can make a few $ instantly than mining without profit, or you can buy altcoin and save it for the future.

[boltz]

As long as you have time to search for profitable altcoins and be ready to mine them in the early days of blocks, then you should do it. Also make sure you have some powerful gpu's and you're online here most of the time when the ANN Threads will be open and pools will be make public. Also if you have some asics, don't hesitate to upgrade to the next level in order to get more hash power.

Personally I can't mine anymore as gpu's are expensive here, electricity is expensive ...so I prefer simply to invest and hold.

[o48o]

I think this time is not a good time. large electricity costs and too long to be profitable. the best way now is to buy some altcoin and trade daily. maybe with this you can make a few $ instantly than mining without profit, or you can buy altcoin and save it for the future.

Are they currently selling altcoins under electricity costs and what are those coins? In fact, is there a place where i could track what coins are i should buy rather then mine in terms of the cost of electricity? That would be useful so i would just cross check them against their fundamentals.

[Rampagoe004]

If we see from the market price it is now time to rise because the price of bitcoin has gone back up and if mining costs are enough there is no harm in getting back up, but if I think investing is more interesting because the results are faster than mining which takes quite a long time, so it all depends on each of our thoughts because personal belief is the most important thing.

[ChrisPop]

Personally I believe that mining is not viable unless you have access to cheap electricity fees or you can are a big entity that can get big discounts at purchasing mining hardware.

Furthermore I wouldn't get fund any investment that is not already profitable aka I know it is going to make me money. Why risk your money on mining when you will most likely get better results by just buying it.. I am not a fiancial advisor so treat my opinion accordingly.

[key4co.in]

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

This is very reasonable in my opinion, get serious with the mining of altcoins right now then wait for altcoin season which might likely come next year. My reason for saying altcoin season might come next year is because bitcoin halving next year will obviously cause price uptrend for BTC, then when people start moving their BTC profit to altcoins, it should cause altcoins to increase in price too. Well this is just my opinion, I'm not certain.

[taufik123]

If you have a mining device that is adequate and can be used to mine Altcoin, this is indeed the time. Altcoin is still going down, but bitcoin will soon take a swing to get up. Altcoin in the mine I will choose ETH because ETH will adjust prices when bitcoin rises.

[pamsugas]

This is not yet the time to return to altcoin mining, altcoin is still in uncertainty in prices, it's best to just focus on holding bitcoin because the dominance of the bitcoin market is getting bigger, wait until altcoin dominates 50%.

[BChydro]

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

It all depends upon what coins you are planning to mine, if you have a list of coins and what machine you are having then we can calculate about the potential profit percentage you could earn if there is an altcoin rally, there is nothing wrong in supporting any network if you are capable to do so but it all depends upon the mining tools you will be using and unless you give a clear idea about that it is hard to tell whether it is a good idea or not.

[torpedo]

This is an interesting question. In my opinion, it is only worth doing if you are confident in the growth of bitcoin and you have a mining rig. I think it’s not worth buying a mining rig now and trying to make money.

[Google+]

at this time I think the level of difficulty of mining has begun to increase and if you do that it can only provide a small profit, it takes a very long time to be able to ROI (Return On Investment) better you buy coins at the exchange will be easier without having to make a lot of equipment for mining.

[Suslived]

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

Altcoin mining was great, but IF bitcoin surges ABOVE $30k USD is a big IF. Definitely the values of altcoins will follow the bitcoin price surge, however, I wouldn't count on anything yet because bitcoin has a still a long way to go before $30k is reached.

If the day comes tho that altcoin mining is again profitable, I would definitely get into it more quickly now before everyone else jumps on the bandwagon.

[alisonwonder]

Since all this while that mining altcoins have not been profitable like before i don't bother to keep mining coins so i just lock my mining rig in a room and now that bitcoin halving is knocking on the door i think its a good time to start mining even if its not profitable? i believe if bitcoin surge over 30k altcoins will take the ride we've been waiting for, anyways, what do you guys think? good idea or bad ?

Altcoin mining was great, but IF bitcoin surges ABOVE $30k USD is a big IF. Definitely the values of altcoins will follow the bitcoin price surge, however, I wouldn't count on anything yet because bitcoin has a still a long way to go before $30k is reached.

If the day comes tho that altcoin mining is again profitable, I would definitely get into it more quickly now before everyone else jumps on the bandwagon.

yes usually the price of all cryptocurrency will follow the movements of bitcoin prices at the exchange but it cannot provide a guarantee of profit because usually altcoin mining when bitcoin prices rise sometimes altcoin prices fall, so it's better to be careful when mining and make sure mining in the correct coin really potential.

[Pamadar]

This is an interesting question. In my opinion, it is only worth doing if you are confident in the growth of bitcoin and you have a mining rig. I think it’s not worth buying a mining rig now and trying to make money.

Not worthy to start building your mining rig and try to work with mining business, but like wise if you do have mining equipment and you believing that the market for bitcoin will rise to that level then alts have the piece of that success, review coins that have bigger potentials like ETH where the movements have the higher chances to work alongside with bitcoin while the entire market is trying to bounce and rally high.

[Prompyboo]

I can not be sure that your idea is bad, but I would not now invest my money in some kind of mining equipment. the most important reason for me is that the equipment is very fast becoming not popular.

[lolgato1]

I do not understand why people are still speculating on mining. Why would you do that? Do you think that your mining efficiency will be higher than giant companies has like Bitmain?
Rather invest into cheap altcoins, while the price is so undervalued.

[forexandcryptoauditor]

Looking at educed rewards and requirements for mining, day by day mining is becoming less profitable. Still I believe it's a good option for those who can afford high performance systems.
Now a days, staking is also means of increasing  your investment for some of the coins.

[Ferris419]

In my view, I think Mining still not profitable for most of the users! This year Altcoin market suffering a lot, I have seen many people left crypto mining because of it. So, if you mine altcoin and if your electricity bill is not cheap then you will not make any profits from the mining! But, if you mine Bitcoin then your work can be valid now or later! Only Bitcoin mining can be helpful right now if you have a low fee for electricity! Otherwise, trading is the best option to make money on crypto!

[Inu.Guren]

for now i think indeed the right time to start mining Bitcoin again, because Bitcoin are entering bullish and in network many people are stopping mining activity after bitcoin crash few year ago, and halving phase for bitcoin are coming in 2020

[Visbay]

This is not yet the time to return to altcoin mining, altcoin is still in uncertainty in prices, it's best to just focus on holding bitcoin because the dominance of the bitcoin market is getting bigger, wait until altcoin dominates 50%.

Indeed we should wait right now because even now crypto is not certain about the increase in price but we will have to wait for getting a certain alarm about the price of crypto. Mining is costly done so those who have money and mining equipment can enjoy mining but those who are poor and low resources will face little difficulty so better wait.