I Am Unplugging My Bitcoin Miners & You Should Too | ASIC Mining Is Dying
Is it worth it to mine Bitcoin? Aside from the altruistic act of securing the BTC network via Proof-of-Work PoW, Bitcoin mining doesn't make cents or sense now or in the foreseeable future for the residential small-scale cryptocurrency miner.
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There are many factors at play when you analyze cryptocurrency and cryptocurrency mining profits, however with Bitcoin price remaining stagnant and Bitcoin mining difficulty continuing to increase this becomes a very simple equation that the longer time goes on = the less Bitcoin/USD you will earn mining BTC.
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With mining facilities going online around the world.. Like Hive blockchain and others are going to make small-medium mining setups unprofitable unless BTC moons again. They are mining other coins too, so just a matter of time unless those will become unprofitable as well due to centralized massive mining facilities.
Been trying to sell my A3. With my cheap power I could still profit with most ASIC's but not enough to justify the initial cost. If I buy another one I think I will be stick to BTC.
Meanwhile my little 1070 rig is just happily plugging away in the basement.