Time to get back into mining?

[cryptoloverlife]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

[shoreno]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

why would you need to spend a lot of coins ? when you only need to buy is a mining hardware or a gpu/cpu  . you can also use your own gadgets that you have right now to mine a coin so that you will only need to pay for the electricity and the bills of your electricity will also depend on your country because some countries do only have an inexpensive electric rates   . you need to know if your one of those country so that you can take advantage of it   .

[romero121]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

The present market situation isn't that supportive for a bigger profit for mining. Right now countries of very minimal electricity consumption charge and regions where the climate condition is supportive for free air conditioning seems profiting. Same as that of power required for mining there is requirement of power for air conditioning. So when there isn't no need for air conditioning this will profit in electricity required.

[yohananaomi]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

why would you need to spend a lot of coins ? when you only need to buy is a mining hardware or a gpu/cpu  . you can also use your own gadgets that you have right now to mine a coin so that you will only need to pay for the electricity and the bills of your electricity will also depend on your country because some countries do only have an inexpensive electric rates   . you need to know if your one of those country so that you can take advantage of it   .

The main obstacle of mining is clearly a capable device, if from the beginning to do mining, it is clearly not recommended with the current bad situation. but if you just continue there is no problem, it may be constrained by expensive electricity costs and income only for electricity and maintenance.

[mersal]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

We are spending money to setup the mining rigs which means we are buying something physical,in case if the coin we mined lost its value completely still the things we used to mine has the resale value so we are not in complete loss.Mining may not be profitable for someone who is interested in short term its more likely long term investment and the profits will be based on which coin we are mining.

[bittick]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

The problem always is on the maintenance cost, profitability, difficulty and there might be a technical problem that has already faced by the miners. I have stopped to mine crypto since last year considers the difficulty increase brings me to the mining crypto to get loss only. Maybe your main problem is about ROI but remembers about your time will worth when you are a big miner who has so many hash rate in the network and you can earn a huge profit.

[Clement Kaliyar]

mining is more suitable for long-term buddy. don't count it for the price of the coins you are mining now. although the price of mining equipment is expensive but you can see that in the past few years miners have benefited when they are in a good market which makes their mining coins have a high price increase. whereas if they counted at that time it would not be enough but they still do it because of confidence for the future.

If you are planning to make a profit through mining then it is not possible, if you are getting low electricity and cheap machines then you can try that but that does not mean that you will get a big profit as the competition is really high and what ever coins are available that have a good market cap then you will find a much bigger hash rate, so always go for investment in the coins directly than spending time mining.

[Pamadar]

i dont really think that mining is a good idea...
not in my country anyway.
i found it better to buy/earn my crypto instead of mine it
when i tried to mine i had so many problems with that, that it wasn't worth the time - not talkinga bout the electricity prices

For mining, we need to spend lots of money in the initial stages, we have to spend a lot of money on electricity bills, sometimes it will take more than 4 months to mature the coins. So mining is not suggestible at these conditions, so it is good to purchase the coins and start staking them in the wallets and it won't charge anything.

You need to research well if you plan to stake instead of setting up your rig and invest with mining. A good idea if you have a good background knowledge with your selected project/coin. You are doing two things, staking and waiting for the rewards and storing the coin for the future bull
so you can have a much better value and enjoy both earnings. Do lots of research and pick the right staking project that you can afford to invest your money.

[piebeyb]

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 ?

interesting idea, just a little advice is certainly better if you mine some newly launched altcoins, at least it's easier to get more altcoins at the start of the launch usually the amount of block reward income is a bit bigger

If you have to mine an old altcoin it seems like you have to see a high amount of diff will make it harder to get more supplies because the amount of block rewards is also small, sometimes people are more likely to buy on the trading site than to get it from mining

[Apened]

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 you can calculate it in your own, list down how much possible cost if you run a mining and how for how much return you may get. Because you will only run a mining or do mining again if you know that you will going to earn from it, am i right? Especially the electricity costs where my friends stops mining it is not that profitable until this days.

[Searing]

Well, we all pretty much knew that home mining was dead. Here is an article stating such.

Indeed, it could be stated that anything above 6c kWh electric and a big mining farm (with equipment other than Bitmain L3+'s and Bitmain S9's that are the end of life,

I know a LOT of big data halls with these as the majority of units) with NEW equipment. Perhaps that is why we are seeing the massive rush of huge farms, as the

last nail in the coffin for folks who can't dump 100's of thousands into the latest ASIC equipment. Anyway, for the price of the ASIC equipment and the price of BTC/Crypto,

and the somewhat impossible difficulty that will result fromt these huge miner farms springing up worldwide..well, again, I don't get it.

On the other hand maybe 'big money' and 'big institutional money' are getting into BTC/Crypto in the same manner that the big bulk of newbies got into BTC in 2013.

As a newbie, the thought of 'buying' BTC and hodl'ing was scary as f*ck. But dumping $5,131.80 on a KNC Jupiter Bitcoin Miner, that arrived in s 'soggy' rain-soaked box,

full of 1/2 glass of water, and had NO power switch! (I had to call you had to use a paper clip on specific pinouts on the PSU to start it up..gasp!...damn, such a newb I was!

So maybe this all makes sense if institutional money is coming into BTC/Crypto and it is an easier sell with tangible equipment and equipment deductions etc.

Just because the current round of BTC/Crypto Mining, with big money, seems 'odd' to me, does not mean, even with deeper pockets the money coming in is just

as clueless as to the newbie money we all spent on BTC/Crypto, as newbs, back in the day. So hell, maybe this is a good sign? Just newbs, as usual, getting into mining

with more money, than sense...it all seems so familiar.

link:

https://cointelegraph.com/news/btc-miners-no-more-basement-rigs-greater-profits-to-come

later

Brad

[BigBoy89]

I may experiment with a little Monero mining after they switch to a more CPU friendly algo, but that's all.

Decided for me that ASIC games are not for me. I don't know how regular people, paying regular electricity costs, still manage to compete with the big farms...

[Searing]

I may experiment with a little Monero mining after they switch to a more CPU friendly algo, but that's all.

Decided for me that ASIC games are not for me. I don't know how regular people, paying regular electricity costs, still manage to compete with the big farms...

The only way I may get ONE more HOBBY miner, at the data hall and at 10c kWh is:

1) if Tariff goes away in the USA

2) if I find I can't seem to pace myself to BUY BTC now and continue to fritter $$$ away, in that case, I should get a BTC miner to at least force myself

     to set some $$$ aside into BTC, even though that is the 'wimp' way out. I should just buy BTC monthly with cash, but I never seem to do so. So I

      could snap and get another hobby miner, pay the electric in advance, just to MAKE my frigging self put some BTC dust away yet!

3) This is the cowards (dumb ass) way to collect BTC/Crypto ..but you have to remember it is NOT so much that you have BTC/Crypto if you believe in BTC/Crypto

and things progress as they have in the past, and you don't continue to accumulate and add to your hoard/hodl, well then, even a half-assed way of mining BTC

with an overpriced miner WILL make you feel a lot better, then doing nothing for accumulation now. Just saying, if I seem to be blowing cash like a drunken sailor

anyway maybe a dubious miner is not all that bad to make myself put some BTC/Crypto away. Again, if I believe BTC/Crypto will eventually go back to the ATH's.

But it has been months since I bought BTC/Cyrpto of any note. So hell, one thing about ASIC mining you paid to play and paid the data hall thug each month or

you could not mine anymore....so as a way to have a MINDER to put some coin away, I need to step it up and buy on a regular basis or just put myself in a hole

and get an ASIC and mine. One thing for sure either method to get coin, I never seem to have the $$$ I started the year with at the end of the year anyway. I do

seem to keep the BTC I get in that time period though..so go figure.

(man, I really need to man up and just buy some each month...but so many other toys and so little time)

later

Brad

[ePesoInitiative]

If I already have the GPU mining equipment, I would definitely start looking for coins with a potential to spring rally. And there are over 3,000 coins to choose from.

But if you don't have the equipment, just buy the damm altcoins.

[ChronoLite]

mining needs lot of requirements such as electricity cost, mining equipment and maintenance cost cuz if it costs you too much money and too expensive it's not looking alright for you to start money and also newer altcoins are not supporting mining anymore and top coins like btc and eth would reward you a dust because of the difficulty.

[TWW]

mining needs lot of requirements such as electricity cost, mining equipment and maintenance cost cuz if it costs you too much money and too expensive it's not looking alright for you to start money and also newer altcoins are not supporting mining anymore and top coins like btc and eth would reward you a dust because of the difficulty.

not as difficult as you think. mining must be oriented towards long-term investment. and predict assets that can truly develop in the future. if the time of decline is going to be bad, but if in market conditions go up big profits can be obtained by miners. clear planning must be right and patience you should not forget.

[zeze18]

mining needs lot of requirements such as electricity cost, mining equipment and maintenance cost cuz if it costs you too much money and too expensive it's not looking alright for you to start money and also newer altcoins are not supporting mining anymore and top coins like btc and eth would reward you a dust because of the difficulty.

not as difficult as you think. mining must be oriented towards long-term investment. and predict assets that can truly develop in the future. if the time of decline is going to be bad, but if in market conditions go up big profits can be obtained by miners. clear planning must be right and patience you should not forget.

It's still not worth except the bitcoin price is more than 15k USD, but if you have confidence that bitcoin price will boom in the future and make mining as your investment i think it's worth to try. Because next year bitcoin's block halving will make the miners harder to get bitcoins and i think if the price is not more than 20k mining is no more recommended

[Experia]

I dont know if a person can afford to do a mining now, with this current market condition it is not worth it to spend money to buy units and sustain it with the payment for electricity even you are living in a country with the cheapest rate for the electricity. The time frame for a miner to make profit will be longer than before or there is a huge chance that they will give up mining before they will gain profit.

[Landak]

I dont know if a person can afford to do a mining now, with this current market condition it is not worth it to spend money to buy units and sustain it with the payment for electricity even you are living in a country with the cheapest rate for the electricity. The time frame for a miner to make profit will be longer than before or there is a huge chance that they will give up mining before they will gain profit.

maybe he could get ROI if he could choose the right altcoin and there is a strong potential for the price to go up. (if he wants to change his mining options)
So ya, i guess (not worth anymore) if he still wants to mining bitcoin, surely he will lose everything.

[zetto1979]

In my opinion, mining these days is not a profitable option for any beginner, the costs of electricity could be higher than the money invested in equipment. Seems like buying Bitcoin or other stable altcoins directly would be a better option.