Bitcoin Mining , Is it worth it?

wf9877 (69) in bitcoin • 7 years ago

Question originally asked on Musing.io - Click here to see other answers

Not any more. The difficulty increases every two weeks like crazy. It is much better just buy the coins.

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7 years ago by wf9877 (69)

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rsbosse (49) · 7 years ago

Not worth it. I looked into it over five years ago and the computing power needed even then was insane and there was no way I could ever compete. Basically, back then I would have needed a series of gaming laptops with super fast internet and to live in an ice cave to keep the heat down. No thnx! Hahaha. Of course the price went up about 10,000% after I made that decision. Story of my life!

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aydogdy (57) · 7 years ago

There are several reasons why now the usual mining is unprofitable and this: the equipment for mining the crypt costs a lot of money, and its payback under current circumstances will be very low, no one excludes the markdown of equipment that becomes obsolete very quickly, high electricity costs, mining crypto-currencies is beneficial only in those regions where electricity costs a penny, huge competition in the mining community also does not allow beginners or people who have weak equipment to fully engage in coin mining.

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doktarufas (38) · 7 years ago

Unless you are using someone else's power, it's not worth it.

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