Will mining become cheaper in the near future?

[Sincerem]

From my personal research , mining of cryptocurrency was created especially for bitcoins to be difficult as the mining got closer to the total supply of the crypto-currency. I don't expect the mining of bitcoins to be cheaper but rather difficult.

 

[Ononivami]

Following the supply and demand dynamics, it is probably not very possible for mining to become cheaper in the future because as you get close to the maximum number of cryptocurrency to the mined, the more difficult it will become.

 

[Sotherefore]

Probably, the only thing that is actually possible is to reduce theyl kind of harmful substances released to the environment during the process of mining Bitcoin. Elon musk talked something about green energy sometime ago in terms of Bitcoin mining.

I don't even know how this can be stopped. It is dangerous. And according to information mining of cryptocurrency requires a lot of energy and how these countries are able to generate this energy is what baffles me.

 

[Chibson]

I don't even know how this can be stopped. It is dangerous. And according to information mining of cryptocurrency requires a lot of energy and how these countries are able to generate this energy is what baffles me.

Of course they are advanced Nations, they have abundant energy and electricity in order to accommodate Bitcoin mining. I think it was affecting the economy of China that's why they banned it.

 

[Sotherefore]

Of course they are advanced Nations, they have abundant energy and electricity in order to accommodate Bitcoin mining. I think it was affecting the economy of China that's why they banned it.

Lolz, could anything affect the economy of China. A country who is among the best in economy. Anyway such thing can never take place here in Nigeria because there is no adequate electricity supply.

 

[Chibson]

Lolz, could anything affect the economy of China. A country who is among the best in economy. Anyway such thing can never take place here in Nigeria because there is no adequate electricity supply.

The reason they are among the best economy is because they are being very careful like banning of Bitcoin mining. It might have affected by energy distribution which will inevitably affect their economy.

 

[Setho]

I believe that with the way in which things are going and the recent technology have been becoming even more sophisticated, it is going to be more easy for somebody to be able to make money.

 

[Sotherefore]

The reason they are among the best economy is because they are being very careful like banning of Bitcoin mining. It might have affected by energy distribution which will inevitably affect their economy.

But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?

 

[Chibson]

But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?

A lot of people are still mining Bitcoin. There is a state in the United States of America that actually accept the mining of Bitcoin. There are also other countries in Europe that supports it.

 

[Sotherefore]

A lot of people are still mining Bitcoin. There is a state in the United States of America that actually accept the mining of Bitcoin. There are also other countries in Europe that supports it.

And this does not affect the economy of those country ? I even believe the economy of those country are the ones to be affected the most and not that of China which is among the most populated country. China is a strong country.

 

[Chibson]

But to be very serious china really tried for cryptocurrency because other country are not even willing to take the responsibilities of accepting the mining of BTC because of the huge electrical needs for the mining process. So does it really mean that there is no mining of cryptocurrency currently ?

China is actually trying to protect their economic because Bitcoin mining could have had a lot of negative effects on the long run. This is probably what might have triggered their action.

 

[Ogbes]

Do you guys think that crypto mining will become cheaper in the near future? I wish it would be, because I would like to build some PC setups where I can mine a ton of different kinds of crypto. But I hope to one day see more easily accessible PCs released to mine easier. Do you think this will happen?

If considering whether mining will be cheaper or not,if that is anything to go by it will be after the end of the Ukraine and Russia war.I say this because of the aftermaths of what we are witnessing now which was never there before.

 

[Sotherefore]

China is actually trying to protect their economic because Bitcoin mining could have had a lot of negative effects on the long run. This is probably what might have triggered their action.

But do you really think they're not benefiting from the mining? I believe the mining company would pay the government a certain percentage.. I wonder why this won't still be profitable.

 

[glitch]

With inflation going up, and the cost of everything jumping... I doubt it. If anything it will just continue to become more expensive to the point where you'd have to be rich to mine... I think we are pretty much there now.

 

[Lens]

Mining may not be probably become cheaper in the future and major reason why it is so, is because mining would become more difficult as the number of cryptocurrencies to be mined reduces.

 

[Bookwormlux]

Mining is definitely not going to become easy in the future. This is due to the fact that there are a lot of regulatory measures that are out in place to regulate mining activities.

 

[Syldan]

Well, no one can predict exactly what will happen to mining in the future but currently I can say the mining process has been more cheaper than ever before because there is alot of changes and development in the technological development.

 

[Emmy]

Mining can become cheaper where there's invention of new technology that can make mining easier. It is an assignment to technology developer to work on how to make things more easier the future then this will make our prediction possible.

 

[Honny143]

Past few years back only few percent of peoples knows the crypto currency and the coin prices also very low, so that time mining price cheaper, but now a time all Valuable coins price are very high and the mining equipments, like electricity graphic cards racks prices also high, so in future mining price increase more,

 

[Good-Person]

From my personal research , mining of cryptocurrency was created especially for bitcoins to be difficult as the mining got closer to the total supply of the crypto-currency. I don't expect the mining of bitcoins to be cheaper but rather difficult.

I think that the mining difficulty plays a major role. If the mining difficulty increases a lot, then mining will indeed become really hard by the passage of time and in the future.