Are people going to turn to Dogecoin mining?

[Nomad]

I don't see any profits in dogecoin mining because it is a low valued coin and has an unlimited supply. When a coin has an unlimited supply, it will never grow big.

 

[Planbizzle]

Mining is one of the eases ways that you can make and earn cryptocurrency and the main reason is that it requires little to no work on your part. In order to be able to mine effectively all you need to do is make an investment into the mining equipment that is needed and this will in turn be able to generate your cryptocurrency coins that you can then trade and earn through as well depending on the coin that you choose to mine.

As a coin lowers in its supply the ease with which it can be mined decreases. In other words, it gets harder and harder to mine that coin. Therefore, the rewards are lower for the time that you spend mining. However, this is not the case with dogecoin. With doge there is an unlimited supply and therefore there is no halving event and the ease with which it can be mined never changes.

With the increasing price of dogecoin, do you think that many people will turn to mining this coin? Should there be a limit of dogecoin supply?

Dogecoin mining is a possibility for cryptocurrency miners, but it is unclear whether it will grow more or less widespread over time. It is crucial to remember that cryptocurrency mining is an extremely complicated procedure that necessitates significant resources, such as specialized technology and electricity, and that mining profitability might fluctuate over time.

 

[eenya00]

I don't believe that it would come to a point where people would be mining dogecoin, as I believe that in the future people would generally stop to mine cryptocurrency

 

[Ernestnari]

Truth is that I have not been bought over into this dogecoin hype. I prefer conventional coins like Litecoin and BCH. I appreciate the performance of dogecoin lately but I am not going to jump into mining it.

 

[Kennysplash]

I don't think I can ever engage in mining again as I see no use of it. Besides dogecoin is a well known and established coin now so what you will be gaining wont be much.