BTC Mining, Still Relevant ?

Armen

Member
I am new to this forum and I have noted some useful value add comments.
Wonder if anyone can help me?
Is Bitcoin mining still happening or this is relevant only for new Crypto currencies ?


Open to being educated privately [email - [email protected]].
 

Kellan

Member
I recommend that you read everything that is being posted here:

https://bitcointalk.org/index.php?board=14.0

I believe that all your questions you will find in the link I gave you. I am of the opinion that if someone is still in the mining business Is because they should make a profit because if they had no profit they would not be in that mining business
 

Mathew

New member
Is Bitcoin mining still happening or this is relevant only for new Crypto currencies ?
It is relevant if you have sufficient resources. Bitcoin mining, right now is only worthwhile if you can do it on a large scale. The rising difficulty means that the ratio of returns to your hardware is pretty small. It's not worthwhile unless you have a lot of space and have near free electricity.

If you do have near free electricity, you can squeeze some profits out of secondhand hardware which is still good and double up as a space heater.
 

Edison

Member
^^ Exactly.
BTC mining is VERY relevant. Why on earth would someone think otherwise? If it was not relevant, no one would be mining and then diff would be far far lower than it is (and folks would then start flocking to it).

Can anyone still mine BTC? No. The entry bar is set pretty high as in many parts of the world cost of electricity is too high, temps are to high, ROI time expectations are unreasonable, etc. That said, as long as your operations cost is less than mining income and you are in it for the long game, then MINE ON!
 

Mauricio

Member
Is Bitcoin mining still happening or this is relevant only for new Crypto currencies ?
As you are a newbie, i wish you are not reffering to Cloud-mining. Comments above resumed the actual situation of bitcoin mining. Note that solo mining wasn't profitable since a long time. However, you can still try with some altcoins if you consider investing a large budget to cover costs of powerful rigs and electricity.
Open to being educated privately [email - [email protected]].
I don't advice you to be opened for private discussions. All what you are looking for can be found in public documentations/discussions. Scammers may contact you to convince you buy stuff.
 

Gustavo

Member
In my country due to the high electricity cost and rentals and along with the high equipment costs this is not making much sense unless somebody has enough wealth to try it out and can bear some loses if must sell out later. ROI might take years or more and in between if somebody needs urgent money then you are stuck and would not find easily people who want mining equipment’s so you will have to sell at very cheap price.
 

Izaiah

Member
In my country due to the high electricity cost and rentals and along with the high equipment costs this is not making much sense
Exactly.
If BTC mining was 'easy' then every one would be doing it and like most crap altcoins it would be near worthless. BTC uses PoW to prevent that scenario. As more folks mine Diff goes up which in turn brings cost of operations into the picture. That in turn enforces financial limits on who can mine.
 

Braden

Member
Is Bitcoin mining still happening or this is relevant only for new Crypto currencies ?
For me it still relevant. I understand that your a newbie and wanted to learn about bitcoin and lots of things about it.

Going back to my side, its important cause miners are the one processing the transaction send to the blockchain and they are the solve it cryptographically. Imagine if the miners has beem decreased more, and left. Transaction will become more slower and people will complained with it. No need to send your email here and asked for private discussion you can do your own research. Google is your friend and if not enough, Youtube can extent hand.
 
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