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Author Topic: Is bitcoin mining still profitable?  (Read 386 times)
SickDayIn
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September 07, 2024, 12:04:54 PM
 #41

Hello everyone! Since mining isn’t that popular anymore I’m curious is BTC mining still profitable? 
I’ve really many equipment since I was mining ETH back in 2021 but when it changed from PoW to PoS I’m not sure about its profitability..I mean only 3% APR and much more money to invest now. So, do you recommend to stick to BTC mining or switch to staking? I saw crazy APRs like 150% but not sure about it

If miners stays out of the bitcoin blockchain, then it means  bitcoin users will face it hard times of transactions because mining is an essential administration mechanizing the imputations and servicing the forebeing of bitcoin transactions.
So at no course would it not be profitable but though the profitablity ratios are varies depending on the volume of transactions and numbers of bitcoin being mined.

No, this is a completely incorrect answer. Bitcoin mining can and has been very unprofitable at times. The cost of electricity and hardware can far outweigh the return from mining fees. It has never been "at no course would it not be profitable" as you put it.
CroverNo01
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September 12, 2024, 02:38:57 PM
 #42

Hello everyone! Since mining isn’t that popular anymore I’m curious is BTC mining still profitable? 
I’ve really many equipment since I was mining ETH back in 2021 but when it changed from PoW to PoS I’m not sure about its profitability..I mean only 3% APR and much more money to invest now. So, do you recommend to stick to BTC mining or switch to staking? I saw crazy APRs like 150% but not sure about it
Looking from a distance following the advance technology, it's already up to us to enchanced our techniques and doing the most important thing for ourselves. Back in 2021, Bitcoin mining was very active but its been a long run for everyone. Bitcoin mining will always be the oldest pattern of earning pieces of bitcoin on its network. There's more sectors to focused on in the space. Bitcoin mining is no longer considered to be profitable and its a top choice to stick to the new style of the space. Staking is consider appropriate for investors and we should brighten our moments in the system.

Where do we see ourselves 10 years from now? Bitcoin will emerge to be popular in most of these European countries and also extends its existence massively to Africa. This is crucial period to make profits in the system, no room to relent because we have work to do and executing them shouldn't be a problem.

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bigvilley
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September 12, 2024, 05:07:02 PM
 #43

BTC mining's profitability is pretty low right now due to high difficulty and low rewards compared to the past. With the cost of electricity and equipment, it's tough to make a decent profit.
KiaKia
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September 12, 2024, 05:22:17 PM
 #44

Hello everyone! Since mining isn’t that popular anymore I’m curious is BTC mining still profitable? 
I’ve really many equipment since I was mining ETH back in 2021 but when it changed from PoW to PoS I’m not sure about its profitability..I mean only 3% APR and much more money to invest now. So, do you recommend to stick to BTC mining or switch to staking? I saw crazy APRs like 150% but not sure about it
I dropped mining bc it stopped being profitable for me. I earned, and then paid my bills, with 0% profit in the end. I didn't see 150% APR but I saw about 100-120% in one pos project Waterfall Network. Check them out, maybe it'll be helpful for you

150% APR is insane, too good to be true, I've looked into Waterfall Network as requested, and I don't think that the project is safe, the project backers are not the popular ones, there is less traffic on the website, I can't find any information about how much they've raised, usability wise is very low too, I doubt that project will survive.

Why are you risking money on this when there are many good projects right now like Zetachain, Sui, Manta Network, and so on, it is not too late right now, change your way of researching new projects, it is very poor.

Hello everyone! Since mining isn’t that popular anymore I’m curious is BTC mining still profitable? 
I’ve really many equipment since I was mining ETH back in 2021 but when it changed from PoW to PoS I’m not sure about its profitability..I mean only 3% APR and much more money to invest now. So, do you recommend to stick to BTC mining or switch to staking? I saw crazy APRs like 150% but not sure about it

If miners stays out of the bitcoin blockchain, then it means  bitcoin users will face it hard times of transactions because mining is an essential administration mechanizing the imputations and servicing the forebeing of bitcoin transactions.
So at no course would it not be profitable but though the profitablity ratios are varies depending on the volume of transactions and numbers of bitcoin being mined.

No, this is a completely incorrect answer. Bitcoin mining can and has been very unprofitable at times. The cost of electricity and hardware can far outweigh the return from mining fees. It has never been "at no course would it not be profitable" as you put it.

Just because Bitcoin mining can be profitable doesn't mean it is for everyone, people need to find out how much KwH cost in their country first because without cheap electricity it makes no sense to invest money on asic miners, anyone or any organizations mining Bitcoin right now are doing so because their electricity fee is fair enough.

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RockBell
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September 12, 2024, 10:13:58 PM
 #45

No, this is a completely incorrect answer. Bitcoin mining can and has been very unprofitable at times. The cost of electricity and hardware can far outweigh the return from mining fees. It has never been "at no course would it not be profitable" as you put it.

Their should be an estimation of what you are going to be spending and the Same time what you will be getting in return is it really worth it then you will be able to actually finalize if you are going to continue with your mining or not,  and establishing a mining farm is very expensive to set up, because of the components of setting it up all consist of huge amount of money and I think the profit will also be determined by the number of miners you have. I have not see a mining farm before but according to videos have seen online you will know that they are going to be consume a lot of electricity. And the bill for such consumption is going to be massive. And if all this out weighs the return and they are not making from it then why continue. Their must be a genuine explanation for this, I still feel their is profit in it. Their other alternative to using electricity just that it might even be more expensive to set up to but worth it.

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