why you can not successful in crypto mining at this moment.steemCreated with Sketch.

in #crypto7 years ago (edited)

Hardest time for bitcoin:

yes definitely this is the most hardest job to mine bitcoin with our GPU power or using antminer machines. day by day the thing is became more and more tough for us to mine so people are showing their interest of using bitcoin wallet to investment and i believe that is the best option for them .

if we are investing hardware for bitcoin mining at this moment it will hardly make few dollar a day with consumption of huge electricity. Mining with GPU can give us 30-80 mh/s which is not sufficient for solving difficulties. If you calculate with bitcoin calculator you will definitely see that you will make losing money every month with GPU mining .yes of course if there is huge hasing power like 40-60 gh/s GPU came out then it might be possible to us to make some good profit .

Using Mining machines:2.jpg
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Some of the antminer devices like antminer s9 which giving us 4 th/s and it might produce 0.3 bitcoin per month which actually cost 3000-5000$ per piece . i have total confusion about it and i never believe that is possible at this moment .if we calculate 0.3 btc then it is sure make more than 2500$ per month so only 2 months you will required for cover the machine price .if it actually produce 0.3 btc then everyone will use it and everyone will make profit which is never possible .the thing is those who have actually power of money they only can make more money .i am sorry to say that this post is not a negative mindset for mining .the clear and simple thing is that we need huge hasing power to make profit and the limitation will not remove so easily. Some of the company like amd and NVidia who made huge profit by producing graphics card after the revolution of bitcoin and block chain.

probability:

the only probability we can see that if any new crypto came or the existing crypto which price is very low at this stage and if that is possible to mining hugely at this moment .after a certain period if that crypto price goes high as we saw in bitcoin which came 100$ to $20k within a very short period of time .

My decision:

after reading, learning and studying about crypto currency that the mining of crypto is fully depend on the situation and bitcoin is not for user end mining at this moment .our global electricity is more important to utilize in other industrial sector for mankind not to waste and establish a virtual currency.as i am gamer i also get trouble when price of graphics card became double to triple for crypto mining.
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I "mine" Gridcoin. I use BOINC anyway for scientific projects like Einstein@home, Rosetta@home, SETI@home and World Community Grid. Since I would be doing this anyway, Gridcoin is really just a bonus. Plus, it means my computers are doing useful scientific work and the electricity is not wasted.

it is a virtual thing and there is no physical existence and no pure value ..

As long as I can trade it for other things then it has value.

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