Time to get back into mining?

[Landak]

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 ?

not good idea.
still will not be profitable even if later the price of bitcoin rises to 30k. the total cost incurred will be greater than the results (the more difficult to get bitcoin), unless you have a super sophisticated mining tool.

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[Stargazer]

As the crypto market pumping, so, yes, I think it's the time to get back to mine again! I would suggest to mine giant coins like BTC, ETH, LTC, EOS and so on. But only Bitcoin can give you a confirmed profit, I am not sure about other coins, you have to be ensured by comparing with your electricity fee and mining costs!

[ivaf]

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 ?

If you are going to mine Bitcoin, then for sure it will be unprofitable. Most likely, you do not have the latest equipment available, and it is not able to give an acceptable hashrate. Only in vain will you spend electricity.
If you want to mine any altcoin, then you will not guess which one to choose.

[efxtrader]

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 ?

I think mining coins is profitable as long as the coins are actively traded on exchangers. Coin mining means decentralized coins and I think coins like this are suitable for long-term investment.

[slaman29]

I think it's better that you do mining on altcoin because when you do bitcoin mining I don't think it will give good results because the level of difficulty of mining is already very high and the results are also very little while the repair costs for your mining equipment are also very expensive, so it's more good altcoin because the price can be expensive at the end of this year and the level of difficulty of mining is not too high.

Results, of course, for sure most of us can only afford to do alt mining but unless you're prepared to make a proper industry of it, get the right education and right equipment, don't ever try mining on your computer or laptop.

I even made the mistake of POS before and made a lot thinking I was smart but those coins just got worse and worse in value. I lost a lot in electricity and time.

[trauchot]

I think this is a good idea, because soon there will really be bitcoin halving and then bitcoin will be able to show new results and while there is a chance to act, altcoins themselves certainly have not shown growth for a long time and also growth is very possible when there will be bitcoin halving, so now there is still time left to start mining bitcoin or altcoins.

[Suslived]

For those who already have a mining machine, it's better to continue mining, but those who don't have a mining machine would be a little overwhelmed too if they wanted to assemble it now, because the basic ingredients for making mining machines are obviously very expensive now.

You speak of mining as if it were a recipe to be cooked with ingredients. Lol.

But yeah, I agree that if you're just getting into the mining scene now (be it bitcoin or altcoin mining), save yourself the trouble and just don't. Mining is a complex business that isn't so favourable for home-based or small time entrepreneurs right now. Only those who can deal in economies of scale have profit in mining these days.

[airdnasxela]

Everything will be decided by you after all. You know the factors need to considered when mining. The expenses is bigger (including the electricity you will use) so you have to think if you'll profit from it if you're going to go back into mining. Cause doing it alone at home may not be profitable. But I'm not stopping you if you really want to mine.

[tenakha]

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 ?

I also think the future halving will affect the price. So obtaining BTC by any ways may make you profitable in the future. If mining is appropriate for you, you should not miss this opportunity. The recent increase in price was a hope for everyone, and this hope will not run out easily. If we continue with this price until the end of the year, next year will be better.

[Wysi]

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 ?

Might be a good idea though. But is it worthy and profitable in your place? Your alts would be on hold I guess but you have to sustain you maintenance in your mining stuff such as electricity. It will sure pay you off alot soon. Mining is good for people who lives in a cold places, heat doesn't add upon the cost and they are away from damaging their hardwares plus they do have a low bill of electricity. But if you aren't in such condition plus you do pay higher bills and then you mine alts a little bit then I guess mining isn't worthy for you mate. But it is still upon you to decide.

If you get free electricity then I would say mining is worthy because the amount of commissions you get from mining does not even suffice the electricity and Internet bills and mining is not for everyone and many of us end up losing our investment which we make to buy the components like miners,  graphic cards and all. Trust me this is not right time for mining and don't waste your time and money behind it.

[Kvalentine]

in my opinion it is very difficult to mine like bitcoin, because the supply is decreasing every day and mining results are also decreasing. only large mining companies are able to generate profits from mining. maybe if in 2013 it was very profitable to mine bitcoin, even though it only had 6 GPUs. for now I think altcoin mining is more profitable for small mining, choose altcoin which has the potential for the future and produce it later in my opinion.

Altcoin mining is not profitable like before, mining monero now with 2000hash rate will only earn you 0.60cent per 24hours and excluding the electricity fee leaves nothing left at all, i think mining now is for those who wants to hold for long term

[ufaiz50]

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 ?

How long do I have to wait for $ 30K? for the present value, the possibility that I can get from mining after reducing electricity costs is only a little, this is not feasible to do in my country. While the electricity costs have to be paid every month, so there's no way I will continue to pay with my income. Altcoin market depends on the bitcoin market, I agree with this, but to mining is a bad idea for me.

[Bitcoinjheta]

I think this is a good idea, because soon there will really be bitcoin halving and then bitcoin will be able to show new results and while there is a chance to act, altcoins themselves certainly have not shown growth for a long time and also growth is very possible when there will be bitcoin halving, so now there is still time left to start mining bitcoin or altcoins.

There has no assurance that after halving the growth of bitcoin and altcoin will continually increasing going to $ 30K instantly it might take for many months or years to go with that thing and yet we don't have any concrete prospect that the market will get back into bull run in twenty-twenties.

[biddicoin]

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 ?

I think mining coins is profitable as long as the coins are actively traded on exchangers. Coin mining means decentralized coins and I think coins like this are suitable for long-term investment.

even when the coins are actively traded on exchangers, it doesnt mean always profitable
mining needs big resource to do it, such as mining rig, electricity, which oftern cost more than you get
that's why OP said that mining isnt profitable anymore

for OP, as long as you use good mining rig and low cost electricity, it can be profitable, do mining altcoin for better result.

[EmmanCryp]

I've always loved to be a miner too but the expenses of the rigs and electricity always discourages me. And if bitcoin surges to 30k, there is no assurance of altcoins recovery. Who knows it may even be the death of some alts.

[Duzter]

I've always loved to be a miner too but the expenses of the rigs and electricity always discourages me. And if bitcoin surges to 30k, there is no assurance of altcoins recovery. Who knows it may even be the death of some alts.

If bitcoin reaches $30k surely we can expect the price of altcoins to grow further along with bitcoin. Until bitcoin crosses $15k I don't think there will be growth with altcoins. When it comes to mining, the present market gives mere profit if you're mining bitcoin depending on the electricity consumption charge. When it comes to altcoins it is time to risk, as there won't be much miners, the difficulty will be low. It can be used as the time to mine and hold large volume. If lucky you'll be benefitted, if not it's a loss.

[kodtycoon]

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 ?

the idea will always be good i think, because when many miners decide to stop, but on the other hand i think they make decisions too quickly, meaning when they are still able to do it maybe without getting the expected benefits but at least by continuing to mine you will continue to earn coins mined until there will be a time for you to sell when prices are on the moon

[TelolettOm]

I was a miner in 2017 and at that time it was very profitable, but in the middle of 2018 I was no longer in profit and at that time was giving a loss due to the rapid decline of bitcoin. until finally I decided to sell all of my minning devices at the end of 2018. this is a little story of me at that time minning. who were hit by the hype of the price of bitcoin and minning.

Regarding whether minning is still profitable at the moment I think there are still benefits but we are minning new coins because at that time the price and also the level of difficulty is still lower than we are minning bitcoin or others. if calculated there are still advantages. because I myself am also still active in forums and some people still provide minning updates. based on that I see

[silversurfer1958]

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 ?

No, currently the hashrate is very low due to electricity increase and is the dry season. And that is also why miners are now making a profit again due to less competition.
We do not need to wait anymore, mining is a form of business is quite profitable at these times and you should also invest in mining projects.

[Bezobraznike]

   Who have mining equipment can think about returning to mining! People who plan to invest in mining rigs now should do it fast, to try
to mine as many coins as they can before the halving, after that block rewards will be halved in half. It`s for people who think about
Bitcoin mining.
   Who find mining equipment to expensive, should think about mining other coins. Now we have a big choice! I will never go into mining
business because I live in country where electricity is too expensive. I`m more of a staking person!