Are You Mining Cryptocurrency In 2019 Or Just Trading?
I was talking to a friend today about how the difficulty of mining Bitcoin has increased over the past decade to it's current levels where high profitability is possible with ASIC miners vs common computers of the time in 2009.
I haven't mined anything particular in ages and the only thing I do is basically run my witness for our Steem blockchain which is the only thing I am doing at the moment.
Since it's super expensive and hard to procure top-grade BTC mining equipment in India + cost of electricity not making it very profitable and ROI being stretched over several months to a year it's just easier to stick to trading which has been more profitable over the longer term than mining all things considered.
But crypto is a space full of people from all different parts of the world. Many here are mining cryptocurrencies so let's find out from people who are willing to respond to this post.
Are you mining in 2019? Which cryptos are you mining and is it profitable for you at current price? Or you just prefer trading even if you could mine them.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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Forget the POW mining. But proof-of-stake still has nice , atractive options. Get some masternodes. Or just build (or buy) SKYMINER , for SKYCOIN.
I have mined btc with cpu, fpga, videocards, ASIC's gen 1 and gen 2. Then I quit (in POW)
ohhh, btw, Steemit is a nice sort of mining, in the proof-of-brain class
I’m collecting and HODLing.
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For me, I consider Steeming as mining activity only.
I do mine BOID from my laptop and I think it's somewhat profitable. However I don't calculate it exactly as I'm happy that I can contribute something to World Community Grid through it. And yeah, I forgot, I also run a NOIA node. But that's for fun. I don't think it's of any value as the project is still in pre-ICO stage.
You're right,if mining is not even fulfilling our electricity expenses then its not profitable at all.Also beefy AMD cards use a lot of power on mining..
i definitely trade to earn btc. i have the intention to show my strategy taught by Udacity's Professor Tucker Balch, if my passion can continue.
Just doing my best to accumulate steem
I love steem
In this bear market it is really hard to earn profit through mining
Mining just for the love of it. I’m draining a lot of money doing mining though. Hoping it will pay off at some time in the future.
I prefer trading and gonna invest now in trias as it is now part of KuCoin spotlight https://twitter.com/gan_chun/status/1121300468477546496
In this bear market, Mining is not profitable. In current situation margin trading is best option to make some profit.
I have neitger tried mining in past not have any palm for future also.
Simple reason I don't have budget to buy those heavy miners. Same is for trading also (direct trading)
But I love to play with faucets most of time I convert all crypto I have into DOGE COIN, simple reason I tracked Doge most of the time it's on low side (a few satoshi) but suddenly news come and the price shoot for a short time (it happens last month also), at that time I convert all my Doge into SP through @blocktrades. Unfortunately I don't have Doge in big quantity (a few thousand, all are from faucets, which give me SP in two digits).
I find this a good strategy.