Is Bitcoin or any coin mining worth it in 2020?

in hive-196037 •  4 years ago 

Hello Everyone! I had gotten really invested in bitcoin mining a few weeks ago until I did some research. The short answer to this question is no. The reason for this is that when bitcoin was first created it started off with easy mathematical problems that a crappy pc could solve, though it was coded that every time a mathematical equation was solved it would double in difficulty. That is only one of the problems with mining today, think about how much pc power you will need to solve questions now? First of all you will need to spend a fortune to get good enough hardware to start mining today. Things such as GPU setups and normal scripted miners. You really wont have a chance against major companies mining bitcoin in bitcoin areas, which are literally areas where they have over 1000 computers made to mine bitcoin.
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The slower your pc the slower you mine bitcoin as well and the less you will get, while also paying extra for your power bill. If you ask about cloud farming as well, you lose a lot of money too. 1 you have to pay to borrow power and 2 you have to pay even more to withdraw the bitcoin from the company. Overall it is just a lose lose situation. You would have a better chance making money by getting passive incoming by using one of these sites. This is only the case if you haven't been mining and you wanted to start sometime around 2020. Do not start, invest your time into something else because it is guaranteed you will be making more money instead of bitcoin mining

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