Money Talk

Is mining still profitable in 2020?

Submitted by hannahshelby19, , Thread ID: 178682

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15-08-2020, 01:13 PM
#1
I'm thinking in buying a desktop computer for mining. I know that there are mining rigs in the market, but my question is: Is it a good option to mine with a desktop computer? Is anyone doing it? Regards

RE: Is mining still profitable in 2020?

IntroducedMC
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15-08-2020, 01:15 PM
#2
uhh I think it might work but I recommend getting a mining graphics card that is made for mining

RE: Is mining still profitable in 2020?

evar_solen
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16-08-2020, 12:01 AM
#3
Mining BTC is getting harder every day plus the cost to entry is increasing.

Monero can still be mined using your normal PC. Don't expect much profit here though

RE: Is mining still profitable in 2020?

20-08-2020, 08:08 PM
#4
I bought my PC at the time that bitcoin was its craziest and I ended uo paying 300 more than it was worth 6 months later! that was a desktop and ive conveted into a mining pc

RE: Is mining still profitable in 2020?

llul
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23-08-2020, 03:19 AM
#5
only if you don't pay for electricity imo. if you have an office or something then leave it running on that computer why not

RE: Is mining still profitable in 2020?

NoodleCat
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25-08-2020, 06:44 PM
#6
Short answer: No.

Long answer:

It is not, unless you get incredibly lucky and meet a ton of other factors. Basically, unless you don't have to pay for electricity, have a large amount of money for upfront costs of building a mining rig, and get lucky finding an alternate coin that hasn't increased in difficulty/value yet, it really isn't profitable at all. Mining has become more of a long-haul profit maker for those that have a lot of money already at their disposal. I would not recommend mining to make money unless you are planning on turning around and trading the coins to play with investments.

RE: Is mining still profitable in 2020?

BakiTheSecond
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25-08-2020, 11:09 PM
#7
Mining is not profitable. WHy? Because crypto is no longer profitable so thats that

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Lonax
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26-08-2020, 10:29 AM
#8
only if you don't pay for electricity imo. if you have an office or something then leave it running on that computer why not

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Xerious
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27-08-2020, 05:44 AM
This post was last modified: 27-08-2020, 05:48 AM by Xerious
#9
15-08-2020, 01:13 PM
hannahshelby19 Wrote:
I'm thinking in buying a desktop computer for mining. I know that there are mining rigs in the market, but my question is: Is it a good option to mine with a desktop computer? Is anyone doing it? Regards

I recommend that you do not buy a desktop computer to mine any cryptocurrency, unless you can get electricity for free. The cost of electricity is the limiting factor. Up until about 1 1/2 years ago, it became almost universally unprofitable, because the difficulty ratings of mining cryptocurrencies have greatly increased. Also, one must consider the prices of the CPU-minable coins themselves-- they're generally not worth the cost of the electricity. ASICS are the generally the only way to make some profit, but only if you can purchase electricity at a very cheap rate-- like perhaps $.03/
KWh.

26-08-2020, 10:29 AM
Lonax Wrote:
only if you don't pay for electricity imo. if you have an office or something then leave it running on that computer why not
Last year, I read about some employees that got fired for running mining equipment at work-- using the company's electricity, of course. That was an expensive lesson in how not to mine cryptocurrency!

RE: Is mining still profitable in 2020?

30-08-2020, 04:58 PM
#10
from what i think it is profitable if u got cheap electricity power

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