Time to get back into mining?

[btc78]

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 I am to answer?no it’s not time and there’s no other time but bullrun only.look at the market?were all speculating about the Halving in May next year but what if nothings happen?i mean what if market still dumped ?what will happen to your capital because for sure you will spend more money just to pay the electricity and some other expenses while waiting for the bull to come

[Andrews193]

I don't think mining with the current price of bitcoin is profitable since the blocks is already high and the lesser the supply will be harder to mine.
But if the price will booming after the halving, the miners today must be rich in the future, so if the miners trust the price will be boom, it's not bad to start mining right now before everybody will mine after the price high

In my opinion the reason because Halving indeed make some Miners return to mine Bitcoin, as our friends said above, the level of difficulty will be more difficult so that the rewards given are also small, although small but the price of BTC is high so the money we get is also large.

Well, there are lots of reasons to get us back to mining, but in general, most of us have looked too subjective when we are looking at the benefits right before our eyes and ignore the long-term damage and risks in mining. The first is the level of difficulty as you say, harder and requires more advanced equipment to perform mining work, especially the volume of bitcoin has been exhausted, rewards and benefits are probably not enough to offset the daily costs of mining, Bitcoin's price may be higher, but it doesn't say that mining has had a return, in fact the opposite

[2ether]

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 a bad idea since you already have the tools,and it was only stocked in your room then better use it again,yeah mining is very expensive and we cant find profit but thats because the prices of cryptocurrencies are in lower level.

but once we take at least more than 2017 highest capitalization?i am pretty sure profit can be generated in Mining again,but for the mean time you need to extend your capital because it will take 6 months before we finally reach the Halving and see the next bullrun

It is also possible to mine new promising coins, this can serve as a great chance to earn money, albeit not immediately. Read our post, stay tuned. https://medium.com/@2ether

[davinchi]

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 ?

Yes, I think that the movement of bitcoin is really encouraging right now to make miners return back to business, since it is when the market is fully running in a full blown green lane that they make more profit, and you are lucky to have had a rig already for this and I wish that I could be like you but the cost of setting up this is what scares me way and not even that, I don’t live in some of these advanced countries where they have constant light, we usually don’t have stable light in my city and I wonder why we are still lagging behind when virtually other cities are having constant power which is very necessary to run a mining machine, but I wish good luck to already existing miners now for the profit they will start making from now on.

[iv4n]

Why mining? Why not try other different options like POS,DPOS, or masternode?
I think this is more less expensive rather than using tons of electricity to get coins/tokens.

Sadly your comment passed unnoticed. There are some good PoS coins, its not cheap to run masternode, as I remember if you wish to run masternode for dash you need more then 100k starting investment. For some other good coins, lets say good PoS coins, you need at least 10k dollars. With that money you can think about buying mining equipment, but you need to calculate other expenses too, like electricity on the first place and of course free space if you don`t have any empty room for that. With PoS coins its easier, just wallet and coins and you are good to go.

[sazonk]

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

[topbitcoin]

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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

[zidanw]

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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

Cost calculation. BEP from our capital. Not to mention if the problematic device becomes a calculation that we must do when interested in doing minning and not everyone wants to take the risk. in my opinion it really needs to be careful if we want to do minning. and if you have not yet served, do not let you do minning

[adroitful_one]

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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

You not only have to factor in electricity costs which would put me into the negative already, but also the cost of equipment, and the time you have to put in for maintenance to keep it all running smoothly. It's just not worth it right now in my opinion. Maybe sometime during the next bull run it will be worthwhile, but with the cost of electricity and the rate at which the hardware is becoming obsolete, mining is just not worth the time right now.

[2ether]

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

There are still people who have bought equipment and have not yet paid back.
We also protect that it is possible to mine young promising coins, which in the future can be sold for good money.

[Google+]

At this time when talking back to mining methods, it is considered inappropriate because there are now many more sophisticated coins / altcoins / tokens born, and what must be remembered is that mining requires expensive equipment and intensive care. With the presence of this IEO makes people choose to invest rather than mining.
It is not yet called Crypto Enthusiastic if it has not felt the sensation of mining but money is a necessity which we must really place and use our money as an important capital for life.

indeed, now is the right time to do mining but you must know that to build mining requires expensive equipment, very high electricity and very expensive repair costs so I think the capital you use will be very much with invaluable results, more good you buy altcoin which has the potential at the exchange so that when prices rise can provide many benefits for you.

[topbitcoin]

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 ?

A lot of people in my community already tired with mining because in here cost to do mining is higher than reward that they get. I think mining is something that is all about cost. If you think it is profitable, then do it because it is worth to do.

You not only have to factor in electricity costs which would put me into the negative already, but also the cost of equipment, and the time you have to put in for maintenance to keep it all running smoothly. It's just not worth it right now in my opinion. Maybe sometime during the next bull run it will be worthwhile, but with the cost of electricity and the rate at which the hardware is becoming obsolete, mining is just not worth the time right now.

True, there are a lot of things must be aware before we do mining. Especially the equipment, when people think mining coin is a way to earn money easily, some GPU price increased very much. And that thing is really affect on how much people must spend to make full mining equipment set. And now when mining not really booming again, they lose money when they want to sell that equipment.

[greenclub09]

For me, the cryptocurrency market is a risky one, but the potential of the market is also high. I believe that in the next few years the market will be stable and profitable for long-term investors and miners. If you can be patient with crypto, you can hold it long term then I believe in the near future you will have a lot of money.

[mR.k0fka]

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 ?

what do you mean mining is not profitable?
you can always keep mining and hold the coins until its profitable for you to sell

[Searing]

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 in the USA. My data hall rates are 9.5c to 10c kWh. My home electric rates shot up dramatically in the last 1-2 years from around 12c summer rates and 10c winter rates  

at the home to 17.29c kWh Summer rates and my guess of around 15c kWh Winter rates. UGH!

Add the 25% tariff and further reason not to mine in any way, shape or form.

Add the increase (from what I can tell) of equivalent chips 16nm in bigger boxes for 1/3 more money since around May 2019, IMHO, and that further

complicates mining.

And the fact the ABOVE all sell out, driving up difficulty is not helping much in this regard either.

and lastly, the price of BTC does NOT reflect, even without tariff any way/shape/form should you mine.

The only mining I'm doing is "Attic Mining". You sell the crap out of attic or storage or whatever, on eBay you would otherwise

die with for BTC/Crypto dust. If you are wrong, worst that happens is you lost some time and gained some space in the house. In my case, future

rec room in the attic...but if you are right and BTC hits the ATH again, you are a genius! win/win IMHO.

I do like to watch mining as a 'spectator sport' but I'm in the bleachers just HODL'ing and doing above to add to the BTC/Crypto hoard!

my 2 satoshis worth of advice

later

Brad

[cribusen]

Mining is getting more and more profitable, especially BTC mining. According to cmc, all other mining options are still bringing you around 90 bucks per months by investing 1k USD and in my opinion it is not worth it yet.

[junkerr]

Mining is getting more and more profitable, especially BTC mining. According to cmc, all other mining options are still bringing you around 90 bucks per months by investing 1k USD and in my opinion it is not worth it yet.

I no longer even think mining will be truly profitable. if you can calculate how much expenses we have to pay to mine coins and how much we will get from mining it will be very little to get a profit. mining requires a device that is very powerful and certainly expensive. big capital is also needed.
if both of them need capital, I think trading will be more profitable for me than mining.

[2ether]

Mining is getting more and more profitable, especially BTC mining. According to cmc, all other mining options are still bringing you around 90 bucks per months by investing 1k USD and in my opinion it is not worth it yet.

I no longer even think mining will be truly profitable. if you can calculate how much expenses we have to pay to mine coins and how much we will get from mining it will be very little to get a profit. mining requires a device that is very powerful and certainly expensive. big capital is also needed.
if both of them need capital, I think trading will be more profitable for me than mining.

Not all investors can trade. Many people are mining because cryptocurrency is secondary to them.They grow in the long run.

[Sonu_titu]

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 ?

Do you really think entering into mining at this stage would fix things, As there is a huge investment behind a mining setup. Which coins do you all suggest for mining.

[Searing]

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 ?

Do you really think entering into mining at this stage would fix things, As there is a huge investment behind a mining setup. Which coins do you all suggest for mining.

On the other hand....the original folk that got into BTC were mostly miners. That is how I and my peers got into BTC/Crypto.

It could be the same thing, only with big investors, in 20/20 hindsight it probably would have worked no worse for me tho HODL coin back

in the day than mine. But on the other hand, the physical item, the 25% off equipment depreciation, a business....the folk with more $$$ then

sense like I used to be, back in the day. Or institutional money may be more 'comfortable' with this as an option to get BTC/Crypto, then flat out buying BTC/Crypto.

Unsure, but I know back in 2013 when I 'drank the BTC kool-aid' ...I went frigging crazy on mining coins for fun and profit.

Maybe, its the same, only we are attracting new 'newbies' with deeper pockets and/or institutional $$$ to blow in the usual newbie optimistic way.

just saying

Brad