risk of bitcoin mining

Are there any risks and challenges of bitcoin mining or is it just all profits once commenced

So you need to make sure you make profits over the electricity costs. If you live in a dorm or something where you don't pay for electricity from a simple usage basis, its all profit. Another risk/challenge is realizing that bitcoin mining is becoming steadily harder and harder. It requires near constant investment now in asic miners because gpus are considered a little bit obsolete now.

After halving in may months is very risk bitcoin mining. Take profit before btc halving

Not worth for now, the electrycity cost is way too high, and need the high end computing device, gpu is not a solution for mining bitcoin again.
But, i you can get the high computing device with very high hash and very low electricity consume, i think it still profitable even these day.

Don't mine BTC bro, there's monitors out there with the most profitable coin, but frankly I think the mining glory days are probably over unless you're stealing electricity from somewhere.

How do you even bitmine haha. Ive been intersted but dont know how

It's not worth, even for asic miners, big server farms are making difficulty hard

22-04-2020, 10:43 AM

pgnet Wrote: It's not worth, even for asic miners, big server farms are making difficulty hard

Does bitcoin have a future ? or it will just forever be a "dark grey " market?

15-04-2020, 01:39 PM

bj2d Wrote: So you need to make sure you make profits over the electricity costs. If you live in a dorm or something where you don't pay for electricity from a simple usage basis, its all profit. Another risk/challenge is realizing that bitcoin mining is becoming steadily harder and harder. It requires near constant investment now in asic miners because gpus are considered a little bit obsolete now.

Exactly what I'm thinking, plus the halving thing coming soon. It was profitable back in the time but most people now try to make money through scalping BTC (and a lot lose money too).

Feel like it's days have passed and like everything, times have changed. There are much better ways.