10-01-2019, 05:17 AMp0is0n3nvy Wrote: Could you expand on why it's useless?
Do you mean because we lack the amount of machines required to make noteable BTC or for another reason?
Useless may have been a little been a little bit of an overstatement.
The difficulty level for Bitcoin and almost every other coin has reached a point that makes it incredibly difficult to mine. If you compare your hashing power from your GPU/CPU in your PC to the amount of money you'll be able to make, it'll show that it is not profitable in any way at all. You can check how much you'd be able to generate with your hashing power at websites like Coinwarz.
Because the difficulty level is so high now, the only miners that generate any sort of profit are those that have incredibly high-end machines that are specifically designed and built to do nothing but mine cryptocurrency. Pushing a little bit further, there are companies that own entire warehouses of these machines and dominate the shares in a ton of mining pools.
In short, the buy-in to profit making with Bitcoin Mining is so unbelievably high that it is just not worth-it to start doing it unless you have an incredibly large sum of cash at your disposal.
The only way you can make money from mining crypto without a ton of cash up frontis if you start mining a coin while it's difficulty level is still low (i.e. start mining a coin the day it launches), then getting incredibly lucky by having that coin explode in value and selling it. Any coin that has a solid and high value will reflect that into the mining difficulty level.
If you have any other questions let me know!
