Bitcoin Mining - Still Worth It ?
Bitcoin mining, in short, is the process in which transactions are verified and new bitcoins are created.
In 2009, the picture of bitcoin came into existence. From 10 cents to a thousand dollar, it has done a lot of progress and many merchants have accepted this currency. Now when we look at this, it seems to be a profitable business to mine bitcoins and earn some bitcoin currency.
So, the question is "is bitcoin mining still worth it?"
Well, it was a profitable in which you can use some software and start mining on your own pc or laptop but it was before a year or so. But, the same thing doesn't imply now. Sitting in front of own personal computer, using few bitcoin miner program and expecting it to earn currency is absolutely worthless until you have some advanced hardware and maintenance. Nowadays, there are various GPUs and ASICs specifically designed for the purpose. And there's always a risk when it's cryptocurrency. You have to think yourself and make your decision based on your resources. Those hardware and setup that you have allocated for bitcoin mining, are they worth the currency that you get from verifying those bitcoin transactions at global scale? The decision is all yours.
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It is very profitable if you are in island and use the volcanic heat to produce energy while using the cold at the surface to cool your hardware but no for the average person at home its not!
you don't have the kind of electricity deal required.
however you can join a mining pool like I did !
for my hardware I was break even in 11 months now I'm mining pure profit
and I don't have the sound of a vacuum cleaner in my apartment all day!
wow! it's great then :)
Whats even more profitable is altcoin mining and selling it for bitcoin ;)