Post
Topic
Board Speculation (Altcoins)
Re: Is Mining still worth it?
by
jaberwock
on 23/10/2022, 19:49:40 UTC
I've recently gotten a graphic card for mining but i heard that currently mining is not worth it as all cryptos are currently in the downfall so its not worth mining. Can anybody give me an advice on it. Your insight is very much appreciated. Grin Grin
The question is what coin are you looking to mine, if mining is no longer generating value or profit then I think the companies will shut down the whole thing but for now mining is still going on as usual. Don't listen to anyone but find out for yourself and if you want to mine, only mine valuable coins like BTC. Do not mine junk coins because the risk will be very likely.
If they shut down the whole thing then it will be a big problem. Who will process our transactions then? Crypto will also be less secure if that happens. That is why there will always be people who will volunteer to do it even if many of them quit because they think it wasn't profitable anymore.

For active coins, mining is still active on them. You recommended him to mine a btc but I don't think he can do it with using a graphics card alone. The difficulty in mining for btc have increased a lot so to be able to mine it successfully, a real mining machine is now required and it wasn't friendly in terms of electrical cost. That is why it isn't really advisable. He can mine other altcoins instead.