Does bitcoin mining still profitable

[hani20980]

Do you think that bitcoin mining still profitable with a strong GPU or CPU or electricity fees will be higher then mining earnings

 

[Ureka]

Personally I don't think it has ever been profitable, cause I don't see how the mining of Bitcoin actually works, it is a waste of time

 

[hani20980]

Personally I don't think it has ever been profitable, cause I don't see how the mining of Bitcoin actually works, it is a waste of time

im not sure a lot of peoples still buying mining machines but i don't beleive that they are really getting good profit

 

[Ureka]

im not sure a lot of peoples still buying mining machines but i don't beleive that they are really getting good profit

Yeah j don't think so too. I don't think they are getting profit it any, it's a waste of time they should rather invest in Bitcoin

 

[Niftyyem]

Mining bitcoin individually is not profitable if you consider all the expenses that are involved. - resources, equipment and the huge amount of electricity needed.

 

[Ryan]

It's profitable in some of the regions Like if you have cheap electricity you can easily manage mine bitcoins otherwise it will highly affect your bills. I perfer trading more than mining becuase they consume energies

 

[vest1992]

Mining was always profitable, but not in small scale thinking like most of us do, but in large scale, you can find documentaries of mining in caves so they will have a cold environment and they are making over $50k USD profit a day.

 

[Anis Boukezzoula]

I don't trust the mining field in general, a lot of them got scammed after a period of time. this field is famous because people are lazy and they want the easy money.

 

[vest1992]

I don't trust the mining field in general, a lot of them got scammed after a period of time. this field is famous because people are lazy and they want the easy money.

Again we are talking about different kind of mining.

https://cointelegraph.com/news/top-...h-farms-are-pushing-forward-the-new-gold-rush

https://www.bloomberg.com/news/features/2019-11-24/seo-inside-russia-s-largest-bitcoin-mine

 

[Josemendez]

Cryptocurrency Mining is still very profitable. The major challenge with it is that it is demanding and requires experience. Mining Bitcoin with a cloud Mining site is also a good and less costly way ,however it is risky as the company may turn scam

 

[greenie]

if you want to mine on your own, just think about how much all the equipment you need costs. after you pay for the monthly electricity, you also raise the issue that something can be damaged in the hardware that needs to be replaced, etc. calculate how long time you could make a minimum profit and see if it's worth it.

 

[Trexxxy]

Personally I don't think it is .

 

[Abiolz]

Do you think that bitcoin mining still profitable with a strong GPU or CPU or electricity fees will be higher then mining earnings

This seems to have faded away,bitcoin mining is not that in trend again,so channel that energy to another paying cryptocurrency platform or paid surveys platform.

 

[Kamon c4]

I’ve tried it so many times it’s not profitable you can also try it if you want but for i’d say NO

 

[Ehizzy1]

Its profitable when you have many mining rig to mine and not only one mining right you are using to mine bitcoin

 

[Yugocean]

Mining is profitable, but this depends on mining speed. However this may need a training, otherwise mining will shut down your device.

 

[Goodday]

Do you think that bitcoin mining still profitable with a strong GPU or CPU or electricity fees will be higher then mining earnings

Mining is hard. I don't think CPU minin is profitable because it's consequences. Mining requires a lot of electricity and it can destroy your computer CPU. Even if you are using a strong cpu, it still not profitable because now the price of bitcoin is very high.

 

[Ralphjoe]

Bitcoin mining on an individual basis is not profitable, there is the high chance of loss, so the best option is people pooling their resources and tools to mine Bitcoin together in a network know as pool mining.
This way peoples mining power are boosted together and they can actually mine a decent amount of Bitcoin and share it among themselves.

 

[Oscar]

Mining of bitcoin is very capital intensive and needs constant electricity which I can't get in my region. It's profitable in the long run for the experienced miners.

 

[Suba]

If you join a mining pool to mine Bitcoin at this time it is still profitable, even though the Bitcoin results you get are small but the price is expensive, so you can cover the large mining costs, the rest is profit.