Money Talk

Basic guide on BTC and coins

Submitted by Justforfunn, , Thread ID: 63307

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RE: Basic guide on BTC and coins

#13
I'm pretty sure mining is not very profitable at all for individuals as there are now high costs of electricity, cost of computer scale required in order to gain a profit, and the amount of people mining right now. You'll need an actual "datacenter" of computing power in order to turn the profit while mining because of how much licensing, power consumption, and hardware replacement/upgrading you'll have to do. I wouldn't recommend the average joe to start mining unless they're willing to shell out. Most people now with mining do it in big groups that they all contribute to and get paid a percentage of the coin they're mining, but even that is still not very profitable. I would suggest trading coins as sort of an investment but i'm not a financial adviser so can't really say more then don't spend more then you're willing to trade and always do your research. Good guide though but I think this disclaimer should be placed in the mining section if you want.

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