I have recently got back into the mining community to see if it is profitable however it seems there are many issues with this and also many other options to make money. So the big question is is it worth mining anymore?

Well, I tried something called Nicehash out and tried to see if that was worth doing. Nicehash is a service that auto mines for you and picks the most profitable coin to mine at the time and they pays you in BTC. This is a great idea but the main problem I found before I even started thinking about if it was profitable to mine was the cost to send bitcoin to an exchange takes a big chunk out of my earnings as well. However, if I mined a coin directly that was cheaper to move then I saved on that so I really need to take that into account.

Mining has always been about squeezing as much money out of what you are producing so underclocking the GPU and making sure is it worth spending a little more electric to earn extra coins.

I found Nicehash to be a much faster and easier solution rather than setting up mining a coin individually. However coming back to the question at hand, I just don’t think its profitable.

Mining was at the forefront of crypto back int 2013 but I feel it might have had its day. Staking is coming much more commonplace and if you are going to invest thousands into a rig you might as well save the electric costs and struggle and just invest in a coin that stakes and make money without having to work for it.

This is my own opinion and I would like to hear other peoples thoughts on this.

4 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 5 (4 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
(406 total tokens earned)