Post
Topic
Board Mining
Re: Is Bitcoin mining a profitable business?
by
God bless u
on 04/01/2024, 17:32:48 UTC
Introduction
In the ever-busy world of business, profits and losses are key components experienced by those in it. However, from a very tender age until this minute, I have not come across anyone who chooses to make losses. Certainly, everyone loves to make profits through any means possible.

In a case where I happen to be the only one that sells a particular brand within a region or state, it is expected of me to make profits. But if there are other competitors that sell the same brand as me within the same region, the tendency of making profits is likely not to happen due to the competition.

I tried to apply a similar scenario to Bitcoin mining. We all know that several miners around the world compete to solve a difficult mathematical problem, which aids the creation of a block. After the successful creation of a block, the miner is rewarded with some Bitcoin. Sadly, I can't tell the exact number of miners globally, but I think their population is enough to make the reward process very tough.

Questions
1. With the large population of miners around the world, could every miner earn a reward at least once a month?
2. If it's impossible for every miner to earn at least once a month, does that mean that mining is not a profitable business?

Note: I am asking these questions based on a miner's perspective, considering the cost of power supply consumed and the fixing/replacement of faulty mining machines.
I am not a miner. and my opinions are not as good as any mining expert. but I can tell you one simple thing which is true for every business. if something is not profitable there wouldn't be people doing that. so if Mining was not profitable then there wouldn't be that many miners all over the world mining.
now coming to your questions:
1: Yes. Every Miners earn some rewards at some points. it is very difficult and time consuming. but they eventually get their share of rewards. (it is different for solo and pool miners)
2: Mining might not be as profitable business as any other money making mechines. but it is somewhat profitable that's why people doing that.