Do you think Bitcoin mining is profitable these days?


13 Answers

Willie B. good Profile
Willie B. good answered

No!!! Bitcoin is stupid

Martin Garret Profile
Martin Garret answered

I can't really say. But I suppose that it is quite profitable if you buy good equipment. Aren't you guys amazed about the popularity of cryptocurrencies? We even have bitcoin ATMs in Toronto, on ICO Pulse you can read about it - bitcoin Toronto ATM

Sarah Deloy Profile
Sarah Deloy answered

It will go up again, for sure. There are all kinds of cryptocurrencies at the moment, and unfortunately most of them are either fraud or closely connected to Bitcoin (they depend on BTC value, ups and downs etc). But, there are different projects I bumped on, which all use blockchain technology and have interesting stories. Also, I found all kinds of information, fraud alerts and trends on Coinario. Would recommend this one anytime, it offers a lot of interesting info for anyone considering investing or getting into crypto world.

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Professor Wonderland Profile

nope, it'll take you ages to get 1 bitcoin as the process is really slow. I remember watching a video of a guy use 50 phones to mine and he only made a few dollars a day.

Albert Enula Profile
Albert Enula answered

Bitcoin mining works on the blockchain technology that uses proof of work principle. If you want to gain profits, you should keep the costs low. However, bitcoin mining is more profitable with ASIC miners, but they are quite expensive and owing to this most of the people leave the thought of mining.

If you contribute 5% of the hash rate, then you can mine 5% blocks. Nowadays, hash rate is around 3,551,696,261 GH/s. This is highly expensive, if you think of mining Bitcoins from home, then you will not be able to mine even a block.

Therefore, the best alternative is join a mining pool as this can help in earning Bitcoins faster.

Another alternative is to mine in the countries where electricity rates are cheap and equipment discounts are given to mine the Bitcoins.

Other factor that affects the Bitcoin mining profitability is percentage of mining Bitcoin per year. With the changing price of Hash rate, plenty of manufacturers are also rising day by day. Number of miners is increasing that is directly affecting the price of Bitcoin. The more the number of miners in the network, less will be the mining profitability.

James Williams Profile
James Williams answered

Yes, I think Bitcoin is profitable nowadays with the use of cloud mining. You can mine your Bitcoin, Litecoin, and Ethereum and earn free Bitcoin as well as earn money.

Amit Bajpayee Profile
Amit Bajpayee answered

Looking at the bitcoin history, Bitcoin is seating low at the moment which is the best period to buy them. If you are investing in Bitcoin for long term give it a shot since Bitcoin is going to rise again in coming year and it will be the future of currency trading. Here's what Kishore M - A Forex And Cryptocurrency Experts say about the future of Bitcoin -

Anna Holenova Profile
Anna Holenova answered

I actually know it for sure, but it does not mean that anyone can join this business and reach success only by investing his money and hoping for the best. You need solid strategy and knowledge of the market to make it work. I have a friend who is into cloud mining and he makes some decent profit using his contract. I know that he also uses mining promo codes to maximize his income and make a decent sum to maintain his living. So as I said, you can earn good money with mining, but you have to know what to do on your way to success.

Hanna Whilson Profile
Hanna Whilson answered
Personally I think that Bitcoin mining is profitable these days as its price is supposed to increase soon. I follow the news in this sphere, and most people I asked about it, told me that Bitcoin is worth using. In case you want to communicate with people who have more experience in Bitcoin mining, I recommend to look through the forums from this list -

John bmn Profile
John bmn answered

All that I think about crypto can be seen on their growth chart here  coinmarketcap. It would be all this bad, she would not have such capitalization. Just capitalization = the level of people's confidence in this instrument. As for me, this is the most correct example for comparison.

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