Mining Crypto

[BitMan]

Is mining cryptocurrencies worth it? I’m aware of the obvious charges such as an increased electricity bill as well as wear&tear on pc parts. But aside from that, what other hidden costs are there? Also, how long would it take to become profitable without having a fully fledged mining rig (I would be using a PC).

 

[Samuel V]

Not worth it in 2020 unless you got into it a long time ago in my opinion.

Unless you're <18 and live with your parents so they can pay the electricity bill, you're gonna struggle to make your money back

 

[BitMan]

Not worth it in 2020 unless you got into it a long time ago in my opinion.

Unless you're <18 and live with your parents so they can pay the electricity bill, you're gonna struggle to make your money back

So then either way it’d be unprofitable? My thought was: if you were to switch the miner on during off-peak electricity time then switch it off during peak electricity time, you could come out profitable.
But now that I write this out, it seems to be riskier than its worth.
I still feel like there is potential in this, I just don’t know where. I’m looking for something to make money from that is 90%+ passive

 

[Samuel V]

So then either way it’d be unprofitable? My thought was: if you were to switch the miner on during off-peak electricity time then switch it off during peak electricity time, you could come out profitable.
But now that I write this out, it seems to be riskier than its worth.
I still feel like there is potential in this, I just don’t know where. I’m looking for something to make money from that is 90%+ passive

I mean, I can't see how you can make your money back unless you're looking to be really long term.

I'm not much of a miner myself, but that seems to be the general consensus these days. It's a very over saturated thing to be in, so there's little to be done these days.

 

[FrameworkGFX]

Take a minute to watch this. Came across it a couple days back

 

[Kxffeine]

Definitely NOT worth it

 

[EdEddEddie]

interesting