Bitcoin Garden Forum
Cryptocurrencies => Mining => Topic started by: mike55 on June 27, 2018, 07:25:27 AM
-
Is it advisable to start mining Crypto currency?
-
As per the current situation mining profitability is unstable. I would suggest you to wait for some more days and check the status of bitcoins and accordingly you can decide on it.
-
Even i agree that this wont be the right time to start mining until you have some powerful miners with high Mh/s.
-
Yeah, it's profitable if you choose right and legal cloud mining service for mining.
A lot of them are scams.
I mine btc and siacoin at Wattum service, for mining btc price starts at $89 for TH/s, so it's nice rate per $ and they are legal, hope they will not change their pricing offer.
-
Until the market is not dying, it’s never late. The sooner you begin, the better.
So getting into cryptocurrency while difficulty is low will allow you to gain more profits as the values of the cryptocurrency rise.
Mining at home not profitable at all, you have to think about bills for electricity, noise, and other shitty things.
I mining now using cloud mining Wattum.io. They offer daily payments, data centers in USA and they are legal.
-
Not of this present alts situation, my rig was stopped for months and waiting for a good spot again.
-
It depends on your starting conditions. Let’s say, don’t even try to start mining with PC or laptop, lol. You will be destroyed by powerful mining rigs which have more hashrate. However, if you are ready to invest a few thousands of dollars in hardware, you can try. Just don’t mine Bitcoin as it has extreme difficulty. Focus on altcoins, ETH is good option. Another way – start cloud mining but it also requires initial investments. Check the list of top cloud sites to get an idea from where to start: http://miningtop10.com/ . Cloud mining may be less profitable and more risky than traditional approach but it requires less money and looks more convenient, as well. You simply order specific data plan and wait for income. It all depends on the market volatility though.
-
In my opinion, this time is not too early, but it is not late, so you can still exploit it at this point in time,nothing is impossible.
Exploiting this time profits are not high but hard work many times, adding a little hope that the results will be good
-
I think you still have time to make money on bitcoins.The last coin will be produced in 2140.But I think that now it is better to get the etherium or altcoyins.Ethereum is a great idea to develop a blockbuster technology.Also with the help of the etherium it is possible to work with Smart contracts, which open up wide opportunities.
-
It really depends on several factors, an important one being how high your electricity rate is.
-
I think you still have time to make money on bitcoins.The last coin will be produced in 2140.But I think that now it is better to get the etherium or altcoyins.Ethereum is a great idea to develop a blockbuster technology.Also with the help of the etherium it is possible to work with Smart contracts, which open up wide opportunities.
Same idea, but ETH fell sharply
-
Is it advisable to start mining Crypto currency?
everything is fall, mining big coin just make you sad, low profit.
-
I think you still have time to make money on bitcoins.The last coin will be produced in 2140.But I think that now it is better to get the etherium or altcoyins.Ethereum is a great idea to develop a blockbuster technology.Also with the help of the etherium it is possible to work with Smart contracts, which open up wide opportunities.
-
About different mining techniques and what gives the best return https://cryptodetail.com/crypto-mining-hardware-best-returns
-
I think you still have time to make money on bitcoins.The last coin will be produced in 2140.But I think that now it is better to get the etherium or altcoyins.Ethereum is a great idea to develop a blockbuster technology.Also with the help of the etherium it is possible to work with Smart contracts, which open up wide opportunities.
Mining eth is not profitable now,
Price so low, and diff so high..
I think if u are newbie maybe u cab check your hardware speed ar whattomine site
-
Mining is only profitable is you live in the country where you don't have to pay much for electricity.
-
Right now mining is not profitable but it was profitable. It might be profitable again or it might not be profitable again.
ETH goes down. The price too low for make profit from mining
-
As others have pointed out electricity costs are a big factor in daily profit but one also needs to figure in hardware costs, maintenance costs, transaction costs, price per coin, tax costs... and I'm probably still leaving things off the list. It's best to do your own research based off your own situation, tho I will say that from what I've looked into the best option I've came across is finding a newer solid sounding coin that your hardware can handle easily to mine then hold for a price adjustment depending on your local laws.
-
Even if you have cheap electricity there's still significant risk involved in mining at the moment, though you do have an advantage over users with an average electrical cost of $0.10/kWh. Break-even times are still near a year or over depending on card prices, even at such a low electrical rate.
Noise may also be a problem if you're utilizing ASICs to mine (though some ASICs like the Z9 Mini aren't as loud as traditional Antminers). GPU rigs tend to be quieter, but you'll have to accommodate for heat just like with any mining rig.
-
no one forbids it, it all depends on you but in my experience it is very difficult for now. during mining, I often suffer heavy losses
so my advice is to check carefully before mining coins
-
I think it's rather expensive.
It's better to buy than mine.
-
That's best coin to main today?
-
operational costs are greater than those obtained :'( , there may be coins that are still profitable, but some of the ones I tried were not helpful enough at this time.
-
It really depends on the following:
- How much are you investing (what mining rigs/miners)
- electricity costs
- How long are you looking for before you get a positive ROI
The above three are considerations if you want to choose mining over trading (https://miningsky.com/2018/04/20/crypto-mining-vs-trading/). Mining over trading is only if you are interested in the long run and not for short term holds where you mine and sell as soon as price goes up. You want to mine and keep it till it profits over the new few years. You would need to have a decent startup fund to purchase decent miners to compete to get a bigger chunk.
-
You can start today. The only question here is when you plan to sell your coins
-
I would say depends on a few factors:
- the price in which your source your materials
*Mining rigs
*Miners (asic or GPU)
*electrical costs
*hosting location (host at home or rent at place)
*cost of cooling (ventilation system?)
If you can source these at a low cost and calculate an ROI with the lifespan of the miners with a positive return, then go right ahead with Mining. Personally, I will say, Mining is more profitable (https://miningsky.com/2018/04/20/crypto-mining-vs-trading/) then trading and buying if you can source the above at a relatively low cost.
There are issues with low cost, how trust worthy is the material and so forth.
-
I got 4 rig and currently mining eth and monero. But with the difficult increase too fast, after exclude electric bill, I got just a little bit profit. I still remember the old day when the diff are low, every month my profit is at least 4,000$.
-
I dont think mining is profitable in now adays. I suggest you to invest in good altcoin rather than mining. If you want to invest in cloud mining too, its more risky cause only a few of them is really good and legit for payment. and if you found them, then the slot will quickly filled in.
-
Nowadays mining isn’t profit like last year because more and more people joined so the diff went up crazy. More people in the same pool meaning your proportion will decrease too
-
I think you can never guess if it's profitable or not
-
My suggestion is not mining this time. Because Bitcoin has fell down the break even point of mining. That point is about 6,000$ for miner to equal all profit and cost
-
For me, the extraction of a crypt is not entirely relevant due to the fact that I am not a technical person. Building a farm and caring for her is problematic for me. Cloud mining is another matter.
-
For now there’s no or less profit from mining because of the difficult is increasing every day and with big miner organizations, we can’t compare to them
-
As I remember the price of Bitcoin for break even is 6,200$. And now with the dump to 4,000$ at current, it's truly that mining can't cover the electric bill and give us profit anymore
-
When Bitcoin fell down 6,000$, there’s no profit in mining anymore unless you have free power. Nowadays more and more miners have left their job and sell their rig at very cheap price
-
Nowadays even the difficult is decreasing but stll not profit anymore and more miners have to shutdown their rig becauof that. Only the big organizations miners are still trying to stand still in this bear market
-
It depends on a lot of factors, so it is almost down to each of the individuals to work out IF it’s profitable or not. But otherwise, this is not the easiest of things.
To start this all up, we require PROPER guidance and only then we will find it profitable, especially for beginners. BTC mining (https://bitcoinist.com/bitcoin-mining-everything-you-need-to-know/) is not exactly so simple, so that’s why you need to really understand it and only then it is possible to get it working right for benefits.
-
At the moment mining is not profit anymore. More and more miners have shutdown their rig now because they can’t cover the electric bill and the market keep bleeding everyday
-
For now I would suggest not to mine anymore because the price keep falling like that can’t help us to cover the electric bill. Niw only the big organizations miners are still mining and hold their coin, all of small individuals miners are quitting now
-
I see that the topic is a bit little old but back then mining was hardly profitable and now it is not profitable at all, the only good mining now is the mining with intention of holding but if you are looking for liquidation then do not start mining now, you will hardly breakeven.
-
Is it advisable to start mining Crypto currency?
It depends on your status and place. If you can use solar then it is profitable but if you use normal electricity, its not.
-
If you have a free resource of power then you can start mining and hold your mined coin wait for a better market to sell. If you have to pay for power consume, then the answer is no my friend
-
I wouldn't advise you to mine now because you will suffer a great loss. Wait for the bullish market and start mining
-
Even i agree that this wont be the right time to start mining until you have some powerful miners with high Mh/s.
-
Not now, but if Bitcoin gets in the price. That mining will be profitable
-
I think that mining is not profit anymore at the moment because Bitcoin price and all other coins are really low now and we can’t cover the electric bill
-
yes is profitable.
-
Cryptocruncy mining profit are way down.Mining of bitcoin is a niche by the highly active segment of cryptocrrency.Mining is the way a certain kind of blockchain pays for participants to maintain it,its integrity and record,by paying 'miners' in the blockchain own coins.
-
I don't think so, I think it is the best time to mine Bitcoin, once you mine, you can add it and wait for the high price to withdraw.
-
It might be profitable again or it might not be profitable again.
ETH goes down.
-
Cryptocurrency Mining Profits Are Way Down. Mining of bitcoin (BTC) or altcoins is a niche by the highly active segment of cryptocurrency. Mining is the way a certain kind of blockchain pays for participants to maintain it, its integrity and records, by paying 'miners' in the blockchains own coins.
-
Mining was profitable some time ago. But now when bitcoin's price decreased, mining is not a good way of earning money, I think.
-
The average home miner will struggle to be profitable or recoup the cost of mining hardware and electricity. Profitability is highly unlikely given the current circumstances. The situation may improve in future once ASIC mining hardware innovation reaches the point of diminishing returns.
-
yes,mining looks good.
-
if at present it seems less because the price of bitcoin is now experiencing a drastic decline plus the price of mining tools is also expensive
-
Right now mining is not profitable but it was profitable. It might be profitable again or it might not be profitable again.
ETH goes down. The price too low for make profit from mining
-
Imo mining is profitable if you have good equipment but this is expensive, in addition you have to upgrade it. Cloud Mining is much more cost-effective and profitable. I use, for example, Rockwall Investments (https://rockwall.investments)and I prefer it. I mined two years ago and and never again!
-
yes,I think mining is profitable.
-
Is it advisable to start mining Crypto currency?
Well yes, if you have funds to build a mining farm however if you are lack of funds and want to build a small mining farm then I don't think that is profitable
-
Menambang akan menghasil lebih banyak bila anda mau deposit dengan jumlah tertentu. Tapi bila anda tidak mau, maka anda akan kalah di ongkos dan waktu.
-
Menambang akan menghasil lebih banyak bila anda mau deposit dengan jumlah tertentu. Tapi bila anda tidak mau, maka anda akan kalah di ongkos dan waktu.
if you say deposit it scam bro... It is not Minning. Minning are using hardware and software to verify and solve complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data.
-
In my opinion, mining is not profitable if you do not have a super mine. It's better to take care of cloudmining.
-
Is it advisable to start mining Crypto currency?
Yes, dear. It is desirable. But what is your knowledge about mining? You think it is enough to start and start this work. It takes experience and cost to extract the encryption currency from abundant technologies and electricity.
-
thanku. this information had been useful for me :)
::) 8) ;D
-
I think probably not.. You need much effort to doing mining cryptocurrency faster. Mining need highest specifications computer / part to do it , and you can get highest hashrate too for mining and earn faster. But , its risky because if you doing it with not carefully.. Maybe something bad will happen like power failure (because mining need a lot of electricity too).
Life is choice , you can do it or leave it.. simple. If you want earn crypto faster but risky , doing that. If not , leave it
-
Is it advisable to start mining Crypto currency?
At the moment, the situation is not very stable in the case of the rise of the very currency of encryption, but fears of the sudden decline. You have to work it is in need of great heart power to succeed .. you success
-
Yes it is, but it depends what cryptocurrency are you going to mine. From what i observe, more and more people are switch themselves to mine the biggest coins, cause oftenly it's more profitable, but there is one project called FuturoCoin that made me think of mining in a different way. I've read on their newsroom (https://newsroom.futurocoin.com/big-changes/ ) that right now they are redeveloping their protocol and masternodes system, so it's going to be way more profitable for users to gather coins.
-
Yes and no.
Asking if mining is profitable is an umbrella question. Mining some coins is profitable while mining others is not. You can monitor BTC hash rate to check when the network is too competitive; right now, the hash rate is picking up again and BTC is barely touching the break-even point if your electricity is $0.1 kWh. If you're in possibly Norway and can enjoy that $0.04 kWh energy bill, you can mine practically anything at a profit.
However, for anyone facing a higher energy bill, altcoins are a better alternative. New coins that are largely under the radar typically may have a high margin between exchange prices and cost of mining the coin. Just be sure that the exchange has enough volume to absorb your sales. Veil Project's VEIL tokens are going well on the exchanges and have pretty liquid order books. The token price went up by nearly 100% recently so the gap between cost of mining VEIL and exchange prices is quite high. Plenty of profit margin here.
-
Mining to some extent is dependent on the particular currency you are mining. If you want to mine any currency, go for a dominant currency such as Veil coin is an instance. Mining BTC will be expensive considering it pools and softwares. Alternatively, altcoins mining is a game.
-
Look for a good altcoins and mine... Mining of altcoins are more profitable. I'm currently mining Veil currency very profitable.
-
Is not about mining its about knowing good mining project..a lot of them out there. Some good and some ain't. Its very essential to pick good projects like veil to mine..have been on that and I'm benefitting whole lot.
-
Veil is giving me the profit I want through their mining. Its a good one.
-
Mining is a relative way to earn a crypto, and the veil can provide it on its own platforms. Using the POW rating to provide a high potential mining status is to ensure that the position is at a high level when looking at cover mining. Veil using the X16R hash algorithm to build the foundation of veil mining. Raven coin introduced by this technology has been used by many people for just to take the risk. Developed the X16rt, which maximizes all the benefits of X16rt. Stock markets and mining pools will appreciate the fact that they don't have to replace software that calculates block-mixed values on the network.
-
Definitely mining is profitable but there are some conditions which needs to be put in place before setting up a mining farm which most people adhere to, it includes:
Firstly, users need to acquire a safe environment which has fast response in cases of emergency. Also the environment must be a standard building where efficient mining operations can be carried. Users must also consider the electricity bill of such area. The devices must be in a cool environmental climate condition, with proper ventilation to reduce overheating. This is because hardware gets easily damaged when it get too hot. With these I know it will look too cost for you, but hey there are some other mining platforms out their among which includes VEIL, which is the first zerocoin based coin and it's all about mining, staking and having anonymous transactions. This mining platform doesn't require a huge facilities unlike others but only a well equipped computer which can work no matter the condition around it.
-
I think mining is profitable when there's more investors in the crypto market because the profit comes as a results of buyer's and the investors that invest their money into the crypto market or can the profitable of coins mining come without the investment opportunity.
-
Depending on the coin you intend mining. As for if have the opportunity to start mining, I will prefer new altcoins like veil for example. Veil is more profitable because incase you have a higher energy bill you can still make profit unike bitcoin. So in essence go with altcoins that have substantial movement in exchange which veil has so as to make your profits
-
if you see that the market price situation is still not good, for me it's also not a profitable time to do mining. better it can wait for the krypto price to stabilize.
-
if you see that the market price situation is still not good, for me it's also not a profitable time to do mining. better it can wait for the krypto price to stabilize.
I'm not sure if there will ever be a time for crypto price to stabilize since it's always fluctuating (unless of course if its a stable coin). Maybe what you meant is stagnant.
Anyway, when it comes to mining, I do agree with what others are saying that it depends on the coin you're going to mine. Try to look for privacy coins to mine as I think most are always in demand. Perhaps you can dig on Veil, one of the most undervalued privacy coin in my opinion. It operates on a hybrid POW and POS consensus system. Features such as zerocoin and always-on privacy makes it a rare gem. Not to mention that they never had an ICO (and no premine) but their team was able to device a self-sustaining program to ensure that normal operations and developments continue for many-many years.
-
Mining crypto has always been profitable. But depending on the crypto coin you are mining. Mining btc might not be profitable unlike mining altcoins. Top notch to Veil mining and its softwares. Mining eth is somewhat profitable too.
-
mining still prfitable in 2019 or 2020?
-
This will be dependent on what country you belong from because that will decide if it’s really profitable or not. The cost is a lot to do with electricity and all such stuff and that is only way mining becomes profitable or non-profitable.
I would suggest getting proper Mining Guidance (https://cryptolinks.com/how-to-mine-bitcoin), as that’s something that will make us understand all these things. If we are not going to look at these things right, then we will only struggle to get anything out of it.
-
As per the current situation mining profitability is unstable. I would suggest you to wait for some more days and check the status of bitcoins and accordingly you can decide on it.
Mining is profitable and It seems to me that Veil will be one of the best coins in few months. I'm mining it on zergpool..
-
Mining is a relative way to earn a crypto, and the veil can provide it on its own platforms. Using the POW rating to provide a high potential mining status is to ensure that the position is at a high level when looking at cover mining. Veil using the X16R hash algorithm to build the foundation of veil mining. Raven coin introduced by this technology has been used by many people for just to take the risk. Developed the X16rt, which maximizes all the benefits of X16rt. Stock markets and mining pools will appreciate the fact that they don't have to replace software that calculates block-mixed values on the network.
-
It depends on your starting conditions. Let’s say, don’t even try to start mining with PC or laptop, lol. You will be destroyed by powerful mining rigs which have more hashrate. However, if you are ready to invest a few thousands of dollars in hardware, you can try. Just don’t mine Bitcoin as it has extreme difficulty. Focus on altcoins, ETH is good option. Another way – start cloud mining but it also requires initial investments. Check the list of top cloud sites to get an idea from where to start: http://miningtop10.com/ . Cloud mining may be less profitable and more risky than traditional approach but it requires less money and looks more convenient, as well. You simply order specific data plan and wait for income. It all depends on the market volatility though.
Thanks for this piece, it's helpful as am a newbie when it comes to mining. Sometime ago, I was mining Elwctroneum but it seemed so slow for me and I didn't have the patience. I got encourage again to start and this time am mining both Electroneum and Veil.. Veil is a bit better and faster to mine though. Tell me, which other coins can you recommend?
-
it really depends on so many things that I wouldn't know where to start...
if you would care to include a bit more info on your intentions, budget, investment planning, etc, maybe we could get somewhere
It mainly depends on hashing power and electricity ;) so at first you need to check your electricity costs/renewable production, and then the mining equipment that is most suitable for you/your budget... after that, selecting the right projects and the right time to sell...
-
Mining is very profitable but that is if you are mining a good coins. A lot of people have gone into mining btc and ETH of which using PC or cell phone will destroy it. Mining good altcoins with proper research will yield to something substantial. Altcoin like veil, CTT etc.
-
Few things in the Crypto space remain static and that's why it's worth looking into rising alts to keep updated with mining opportunities with a wide margin between price of acquiring a coin and cost of electricity need to acquire a coin. An example would be VEIL, which was listed at the start of this year.
-
Mining is very profitable depending on the coins you want to mine. I recently joined Veil's mining pool. It's awesome!
-
Mining is very profitable only if you make research and know what best to mine. As for me, since I started with veil, I enjoy more and I never regret mining veil till date.
-
Veil makes the network more secure, have better privacy feature, better opportunities for miners and holders by mining and staking veil, and better potential for the coin to compete to the next generation of privacy coins.
-
There was a way to do that when you can find a good coin with easy difficulty and that will fix all of your problems. Veil is the best answer for that and it was having a lot of potentials to grow even more. Even with 1000 series and you can get a decent profit from there. veil is the best platform to try that dude. Just try it and you will believe or you can buy some veil and stake it.
-
Yes it is very adviceable and profitable to start mining crypto coins. Just lay your hands on a cool project that is mine able and start to mine. For me, I'd advise you look for potential altcoins such as Veil and start with. Thank me later.
-
Mining is sweet and amazing when you get the best coins to mine on. I think to earn high, one need to look out for good potential coins to mine on. I made gains from mining veil and some other coins.
-
Mining is highly profitable for real. But fact is, when you mine real coins, you make real profits. I mined often privacy coin. I'm currently waiting for veil to commence their mining.
-
Yes, mining is highly profitable. It's more like you being the chief producer. Essential, it pays more to be a miner than a mere investor.
-
Yes it is totally profitable. But this will depend on some factors like the amount of coins being mined, the value of the coin in the market, and most especially the coin itself that is being mined. Before you engage in mining. Make sure that the coin can stand the test of time. That is why everyone is rushing to mine btc and eth because of the assurance that come rain, come sun, such coins will always remain in the market with a good price. I would advise that you make proper research on coins to mine.. I personally mine Veil and I am receiving great profit from it.
-
Mining is highly profitable for real. But fact is, when you mine real coins, you make real profits. I mined often privacy coin. I'm currently waiting for veil to commence their mining.
Yep , I agree with you which makes me interested in veils is hybrid consensus systems include Proof-of-Stake, in which individual coin holders, who have staking enabled in their wallets, can compete to process the network’s transaction blocks.
-
I think mining is profitable and if you choose the right project who has fair emissions and good block reward it could be pretty beneficial for miners in the long-term. Choosing the right project is very important because people just see what others are doing but I think you have to do your own research always choose a project which has fair emissions and good development team.
-
It depends on which coin you want to mine. Mining also required huge initial investment.