What to answer when asked "Can I make money mining bitcoin?"

[B-Bit]

You may make money, but that will take time, and it also depends on the electricity bills in the current area. If the electricity bills are relatively high, you can get bitcoins through purchases. But I personally think that mining Bitcoin will make money, but you have to spend a lot of time, energy and even money.

[Ararbermas]

You may make money, but that will take time, and it also depends on the electricity bills in the current area. If the electricity bills are relatively high, you can get bitcoins through purchases. But I personally think that mining Bitcoin will make money, but you have to spend a lot of time, energy and even money.

it can cost high electricity unless you used a very heavy equipment for your machines to mine. If not probably it will not consume but less profits as well.. Because as far as i know mostly provide very expensive hardwares for it in order to have good profits.. So if want to build mining and wants good returns from it then make sure you can afford to provide those important things in mining.. Its like investment as well to be honest.  

[Fredomago]

You may make money, but that will take time, and it also depends on the electricity bills in the current area. If the electricity bills are relatively high, you can get bitcoins through purchases. But I personally think that mining Bitcoin will make money, but you have to spend a lot of time, energy and even money.

it can cost high electricity unless you used a very heavy equipment for your machines to mine. If not probably it will not consume but less profits as well.. Because as far as i know mostly provide very expensive hardwares for it in order to have good profits.. So if want to build mining and wants good returns from it then make sure you can afford to provide those important things in mining.. Its like investment as well to be honest.  

It needs a lot of money if your location is not an electricity friendly place. Plan and knows what you are aiming, long term the chance is high for you in gaining benefits from this, but in a short term probably you will lose more than the value of bitcoin that you will going to have when mining is more lesser than the expenses that you will need to pay from the hardware to the daily maintenance.

Best to have a better knowledge calculating everything before you step in this investment plan.

[Wawa2013]

You may make money, but that will take time, and it also depends on the electricity bills in the current area. If the electricity bills are relatively high, you can get bitcoins through purchases. But I personally think that mining Bitcoin will make money, but you have to spend a lot of time, energy and even money.

it can cost high electricity unless you used a very heavy equipment for your machines to mine. If not probably it will not consume but less profits as well.. Because as far as i know mostly provide very expensive hardwares for it in order to have good profits.. So if want to build mining and wants good returns from it then make sure you can afford to provide those important things in mining.. Its like investment as well to be honest.  

It needs a lot of money if your location is not an electricity friendly place. Plan and knows what you are aiming, long term the chance is high for you in gaining benefits from this, but in a short term probably you will lose more than the value of bitcoin that you will going to have when mining is more lesser than the expenses that you will need to pay from the hardware to the daily maintenance.

Best to have a better knowledge calculating everything before you step in this investment plan.

To successfully make money from mining Bitcoin requires really careful planning. Because in my opinion mining Bitcoin is not as easy as trading
or investing, we need to carefully calculate the costs we need to bear to be able to mine Bitcoin. For those new to the crypto world, I don't
recommend mining Bitcoin, there will definitely be big losses. Moreover, the cost of electricity in the country where we will be mining Bitcoin has
a high rate, forget the plan to mine Bitcoin. There are still many ways to make money from cryptocurrency other than mining Bitcoin. If we have
large capital and have experience in the crypto world for a long time, we can try mining Bitcoin.

[goldkingcoiner]

What do you even answer when someone asks "can I make money mining bitcoin?" I mean the answer for me is a clear "maybe". There's just too much things to consider imo, electricity costs, initial investment, maintenance (not very much but still has to be factored in), I guess what I want to ask is for some insight from someone that mines bitcoin, is there any bitcoin mining who can shed some light what is needed to make even marginal profit off of bitcoin mining assuming you don't live in places like China or Venezuela where electricity is cheap?

I ask just so that I can be prepared when I get asked this again, I keep hearing it and I hate it that I'm not prepared enough in this side of bitcoin as I've never personally mined crypto.

The answer in my mind is definitely yes, however that is not perhaps how you see the question. If the question is "can I make short term profits by mining bitcoin?" then its a maybe, depending on the market, electricity costs, equipment costs and so on... But if this a long term venture with funding that can support it, then after a few years, it will definitely have paid off, no matter what the electricity costs were.

So it differs. My view is long term investment. And it definitely will make money, long term.

[jumpla]

In some time mining was profitable and many were into that business.
Today mining isn't profitable anymore unless you have big mining farm and these are not profit amount they used to be.
So, don't choose mining, you will not get the profit because your expenses will be much bigger.
Choose something else, like trading.