I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS !MUST TO READ !

[xxcsu]

Posted this in the altcoin section , its really not related to " mining speculation " under "Bitcoin section" more to mining i guess , reposting here, so all of you can read it  Its about mining , jumping into mining ...

Be Aware ! Scammers are Targeting You! Hackers are targeting You! You can be a victim of a phishing website !  Watch out !
Make sure You Buying gears from legit source ! Downloading program from legit source ! Make sure you have a hardware wallet !

Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version

There is the Original Link for my topic from 2017 HERE

The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future.

Lot of us know what happened in 2018, some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ).

Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development, make sure you know more than what mining calculators telling you. Learn about ETH2 , EIP 1559 , Mining Reward Reduction ... and if you are living in  the USA , make sure you know what this IRS letters are about : Letter 6163 , 6174 and 6174-A also ... Its a good thing to know about Tax Consequences
The big brother is watching you, and not just in the USA.

HAPPY MINING to all of you and good luck with your new adventure

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later,  tomorrow, next week,  months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !

[alh]

When Bitcoin price soars and it ends up in the News, lots of folks decide to start mining for "Fear Of Missing Out" (aka FOMO). This level of interest by new folks will continue as BTC price rises and will evaporate if it falls in a significant way for months or more.

[iamsheikhadil]

Eh? I don't think nowadays you can really make great amount mining, one of my friend kind of made around $5 a day or something around that very early when the crypto wasn't that popular, and he was using very good machines. I'm very noob when it comes to mining, but I think it's not something noobs like me should indulge into if one is thinking of making serious money. The crypto fomo increased the prices of the GPUs so much even the gamers were complaining lmfao, who just wanted to play games and not mine

[kano]

The first part of the answer is "Money".
The second part of the simple answer is either of:
1) Someone told them they could make a fortune mining and sold them a piece of crap miner.
2) Someone heard about Bitcoin and thought they'd found a quick way to make a fortune.
In both cases they're wrong and everyone who thought they could make lotsa money wants to know why they aren't.

[yerassyl24]

Even as energy costs have declined, however, the difficulty levels for bitcoin mining have increased on an overall basis. With the exception of two instances, the difficulty levels rose consistently over the last year. This increases the cryptocurrency's hash rate and is necessary to ensure bitcoin’s security. Even though it costs more energy, a significantly difficult problem set translates to a more secure bitcoin network.

[ipanks]

I agree with @kano says, that is because of money. When they see how much money they can make from mining, they will start mining and not thinking about the risk. When they can see the reward they got from mining, the greediness will become bigger, and they will try to buy more hardware to support them mining. But then they find out that what they expect can not happen and they disappointed that. That is normal to see because people are hunger to make money by all the way they know.