Crypto Mining still worth it?

[harrylm]

So also the mining amount halves every few years, I read online that there is only around 5 Million Bitcoin left to be mined and the last one will not be mined until around 2140, is it still worth getting involved in or is this literally a market for the businesses with the mining rig power now due to the halving every few years?

 

[ob7ivion]

Unfortunately there's really no 'yes' or 'no' answer to this. It completely depends with:

1. Your available capital
2. What hardware you're going to use
3. The electricity costs in your country
4. Your country's climate(yes, I'm serious)
5. The tax rates of your country

And a few other factors. You're going to do a lot of calculations. These tools might help you out:

• Cryptocurrency Mining Calculators and Profit Calculators - CoinWarz
  
• Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero

 

[Juws]

Unfortunately there's really no 'yes' or 'no' answer to this. It completely depends with:

1. Your available capital
2. What hardware you're going to use
3. The electricity costs in your country
4. Your country's climate(yes, I'm serious)
5. The tax rates of your country

And a few other factors. You're going to do a lot of calculations. These tools might help you out:

• Cryptocurrency Mining Calculators and Profit Calculators - CoinWarz
  
• Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero

To piggyback off what he said, you need to spend a decent amount of money ($1000s) to make money. Buying cheap rigs/low-cost rigs, and cheap and low cost, but take a lot longer to actually "mine" anything.

 

[portran]

Yes, the crypto mining still works, only now it is more difficult and requires more equipment to be able to mine. I was mining for a while but i left it, what i did was start a project (entrepreneurship) on a cryptocurrency platform, it has given me good results. I only had to create tokens on the MintMe platform to start my entrepreneurship and it has been going very well for me

 

[mariopepper]

I guess it doesn't worth. Moreover if we talk about investing - I suppose that cpa networks are even better for money making nowadays. I've heard about affiliate programs https://www.affiliate-programs.biz/category/cpa-networks/ with the opportunity to earn enough money because of paid traffic arbitrage. Seems to be the key prospect in further years.

 

[Claire Lovely]

I don't think that it's worth it even it you have free electricity. If you want to earn from BTC it's probably better to just buy and hold than to buy mining equipment. Most of the larger mining firms benefit from tremendous economies of scale.

 

[mariopepper]

I don't think that it's worth it even it you have free electricity. If you want to earn from BTC it's probably better to just buy and hold than to buy mining equipment. Most of the larger mining firms benefit from tremendous economies of scale.

How did you find that out? Experience?

 

[Claire Lovely]

How did you find that out? Experience?

Because with the cost of the equipment and rates of mining with hashrate it's usually better to just buy the cryptocurrency directly. When adding on the cost of electricity in countries like America or Europe, money is usually lost. But mining is a great way to get into a better understanding of hardware and gain cryptocurrency in a more anonymized way than buying it.

 

[IRulePc]

Mining will be worth it once again when the price is mooning and transaction fees are high.

 

[Ahmadht1122]

no right now but before yes
now there are too many people doing it and its less money per day not like before
he was getting 20 dollars before i think
now maybe 2

 

[Go Blue]

How did you find that out? Experience?

I can speak from experience on this. In college my friend's apartment had electricity included so we made a crypto mining rig and barely broke even over a course of 1 school year.

It would make much more sense to simply invest the $1k+ you'll spend on the parts in crypto directly.

 

[mariopepper]

I can speak from experience on this. In college my friend's apartment had electricity included so we made a crypto mining rig and barely broke even over a course of 1 school year.

It would make much more sense to simply invest the $1k+ you'll spend on the parts in crypto directly.

Wise decision.. I guess you were upset then..

 

[Go Blue]

Wise decision.. I guess you were upset then..

Not upset, just annoyed mostly

 

[Johnson]

I can speak from experience on this. In college my friend's apartment had electricity included so we made a crypto mining rig and barely broke even over a course of 1 school year.

It would make much more sense to simply invest the $1k+ you'll spend on the parts in crypto directly.

thats a ton of electricity. was it a school provided apartment?