MittensFX Posted May 27, 2018 Share Posted May 27, 2018 Hi there!What do you think?Is mining dead and are cryptocurrencies going to drop in USD/EUR.In my opinion,mining is slowly getting more less and less popular as the price for bitcoin has dropped down significantly in USD value.This is kinda sad to be honest but it does not mean that cryptocurrencies in general wont be used at all.A lot of sites still operate based on cryptocurrencies and crypto mining.Leave a comment below on your thoughts.Would love to hear them! 1 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/ Share on other sites More sharing options...
Henrywrites Posted May 27, 2018 Share Posted May 27, 2018 The challenges of mining Bitcoin is one that is making the reduction in prices, but that doesn't mean that it is going to continue that way since some of the top traders are doing all they could to ensure that mining of coins continue. So, I'm hopeful that there will be improvement in a matter of time. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-815 Share on other sites More sharing options...
EfficientNinja Posted May 30, 2018 Share Posted May 30, 2018 I agree that mining is hard nowadays because of Bitcoin's dropping price. It also doesn't help that a lot of electricity companies are increasing their electricity bills. These two factors are the main challenges of cryptocurrency miners. If they can somehow find a place where rent and electricity are cheap, they could profit more even though cryptocurrency prices are bearish. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-886 Share on other sites More sharing options...
Kakashi2020 Posted July 7, 2018 Share Posted July 7, 2018 I really think crypto mining is dead eversince it was proven that it isn't cost efficient to mine nowadays. And due to the tens of thousands who suffered losses in direct mining and in all those mining investment scams. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1678 Share on other sites More sharing options...
Steve5 Posted July 8, 2018 Share Posted July 8, 2018 I don't think it's dead. But it does seem to be getting less popular in terms of use. The various scams and disappointments lead to that. So you can't avoid how most people will abandon mining after losing money over it. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1695 Share on other sites More sharing options...
EfficientNinja Posted July 8, 2018 Share Posted July 8, 2018 I also think that the mining industry is really quiet nowadays. I don't see that much news about it. But they will soon get attention once it is more profitable to mine cryptocurrencies. An old relative of mine was planning to make his crypto mining business with his friends. I hope he's still in the business. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1696 Share on other sites More sharing options...
Henrywrites Posted July 8, 2018 Share Posted July 8, 2018 1 hour ago, EfficientNinja said: I also think that the mining industry is really quiet nowadays. I don't see that much news about it. But they will soon get attention once it is more profitable to mine cryptocurrencies. An old relative of mine was planning to make his crypto mining business with his friends. I hope he's still in the business. Lots of Bitcoin have been mined already and this is the reason most of the traders are focusing on making gains by trading instead of having to start mining again. The thing is that when we realize that mining is not all about the amount of time spent to do it, but the huge cost involved, we would see reasons why it is that quiet at the moment. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1697 Share on other sites More sharing options...
Steve5 Posted July 10, 2018 Share Posted July 10, 2018 On 7/8/2018 at 5:39 PM, EfficientNinja said: I also think that the mining industry is really quiet nowadays. I don't see that much news about it. But they will soon get attention once it is more profitable to mine cryptocurrencies. An old relative of mine was planning to make his crypto mining business with his friends. I hope he's still in the business. I think so too. It might just be in its quiet pace. Lots of stuff does that. Then, they'll surprise people with a sudden comeback. It's the way of cryptocurrencies. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1732 Share on other sites More sharing options...
Kakashi2020 Posted July 11, 2018 Share Posted July 11, 2018 I think that there's still a few who are minng, those who are living of the grid using free alternative energy and others who's getting free power. Unlike last year in which thousands where mining, nowadays there's only few people into it Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-1760 Share on other sites More sharing options...
focusedwriter10 Posted November 4, 2018 Share Posted November 4, 2018 According to me, mining is not dead but it is almost there. Mining was hyped so much, but the cost of mining has hurt many miners, due to increased competition. Also, investments in mining might not give returns as expected. There are a few miners who are still pushing on. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2377 Share on other sites More sharing options...
menchuuy58 Posted November 4, 2018 Share Posted November 4, 2018 On 5/27/2018 at 10:06 PM, MittensFX said: Hi there!What do you think?Is mining dead and are cryptocurrencies going to drop in USD/EUR.In my opinion,mining is slowly getting more less and less popular as the price for bitcoin has dropped down significantly in USD value.This is kinda sad to be honest but it does not mean that cryptocurrencies in general wont be used at all.A lot of sites still operate based on cryptocurrencies and crypto mining.Leave a comment below on your thoughts.Would love to hear them! I think mining is not yet dead. It is still alive and kicking. Those who choose to believe I believe they continue to invest on it. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2383 Share on other sites More sharing options...
Martinsx Posted November 4, 2018 Share Posted November 4, 2018 8 hours ago, focusedwriter10 said: According to me, mining is not dead but it is almost there. Mining was hyped so much, but the cost of mining has hurt many miners, due to increased competition. Also, investments in mining might not give returns as expected. There are a few miners who are still pushing on. The truth of the matter is that in as much as some people haven't been able to succeed in cryptocurrency mining, they are likely to presume that mining is dead but that's not entirely true because there are those who have mined a decent number of cryptocurrency. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2389 Share on other sites More sharing options...
anyone01 Posted November 5, 2018 Share Posted November 5, 2018 Definitely Bitcoin mining is not dead. There are still transactions and blocks which must be confirmed through mining. You will be asking if Bitcoin mining is not profitable this query depends on, greater than something, your ideals at the future rate of bitcoin. While people mined years in the past, they had been receiving a completely low price of return, however after years these Bitcoin have become really worth considerably more. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2455 Share on other sites More sharing options...
Martinsx Posted November 5, 2018 Share Posted November 5, 2018 On 7/8/2018 at 9:54 AM, Steve5 said: I don't think it's dead. But it does seem to be getting less popular in terms of use. The various scams and disappointments lead to that. So you can't avoid how most people will abandon mining after losing money over it. Exactly! Most people are finding it very difficult to mine cryptocurrency and as a result of finding it hard to do so, people take less interest in doing so. Personally, I have tried mining for so long but have nothing to show for it. It's quite frustrating. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2466 Share on other sites More sharing options...
focusedwriter10 Posted November 5, 2018 Share Posted November 5, 2018 21 hours ago, Martinsx said: The truth of the matter is that in as much as some people haven't been able to succeed in cryptocurrency mining, they are likely to presume that mining is dead but that's not entirely true because there are those who have mined a decent number of cryptocurrency. I agree but the big question is, what is the number of Bitcoins that are yet to mined? Are there changes in the mining process? Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2473 Share on other sites More sharing options...
Steve5 Posted November 6, 2018 Share Posted November 6, 2018 5 hours ago, Martinsx said: Exactly! Most people are finding it very difficult to mine cryptocurrency and as a result of finding it hard to do so, people take less interest in doing so. Personally, I have tried mining for so long but have nothing to show for it. It's quite frustrating. I feel the same way. It can be frustrating. Especially, if you don't get a lot from it. Those who earn money from mining have dedicated hardware specially made for it. Using only your computer might damage it in the long run. 😊 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2480 Share on other sites More sharing options...
menchuuy58 Posted November 6, 2018 Share Posted November 6, 2018 On 5/27/2018 at 11:45 PM, Henrywrites said: The challenges of mining Bitcoin is one that is making the reduction in prices, but that doesn't mean that it is going to continue that way since some of the top traders are doing all they could to ensure that mining of coins continue. So, I'm hopeful that there will be improvement in a matter of time. Me too. I am hoping that there will be improvements as time also goes along. I believe it will because technology keeps on advancing. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2482 Share on other sites More sharing options...
Steve5 Posted November 6, 2018 Share Posted November 6, 2018 4 hours ago, focusedwriter10 said: I agree but the big question is, what is the number of Bitcoins that are yet to mined? Are there changes in the mining process? I agree. It's very relevant question. Most of us seem to forget that it's a limited currency. One day it will run out. I'm sure that by then its value will increase since it can no longer be mined. 😃 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2483 Share on other sites More sharing options...
menchuuy58 Posted November 6, 2018 Share Posted November 6, 2018 4 minutes ago, Steve5 said: I feel the same way. It can be frustrating. Especially, if you don't get a lot from it. Those who earn money from mining have dedicated hardware specially made for it. Using only your computer might damage it in the long run. 😊 I believe that those who invest in bitcoin expect to gain more. They can't afford to lose their hard earned money. They want it multiplied and not subtracted. 1 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2484 Share on other sites More sharing options...
Steve5 Posted November 6, 2018 Share Posted November 6, 2018 2 minutes ago, menchuuy58 said: Me too. I am hoping that there will be improvements as time also goes along. I believe it will because technology keeps on advancing. I hope so too. Technology is surely making its way to the modern era. I wouldn't be surprised if it becomes an every day currency just like cash. Maybe we'll see it happen in the next ten years or so. 😃 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2485 Share on other sites More sharing options...
Steve5 Posted November 6, 2018 Share Posted November 6, 2018 4 minutes ago, menchuuy58 said: I believe that those who invest in bitcoin expect to gain more. They can't afford to lose their hard earned money. They want it multiplied and not subtracted. That's right. This is why they invest in advanced hardware capable of handling the process of mining. Just relying on your regular computer isn't enough. I can see why the technologically adept benefit the most when it comes to cryptocurrency. 😃 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2486 Share on other sites More sharing options...
menchuuy58 Posted November 6, 2018 Share Posted November 6, 2018 1 hour ago, Steve5 said: I hope so too. Technology is surely making its way to the modern era. I wouldn't be surprised if it becomes an every day currency just like cash. Maybe we'll see it happen in the next ten years or so. 😃 The trend of technology is going toward a cashless society. I think the micro chips is already out there. The Bible says in the book of Revelation people could not buy and sell without the mark of 666 in their right hand or forehead. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2489 Share on other sites More sharing options...
Martinsx Posted November 6, 2018 Share Posted November 6, 2018 10 hours ago, Steve5 said: I feel the same way. It can be frustrating. Especially, if you don't get a lot from it. Those who earn money from mining have dedicated hardware specially made for it. Using only your computer might damage it in the long run. 😊 The main frustration comes with having to waste your time for so long trying to see if you are going to be able to reach the threshold for withdrawal but still unable to do so and end up quitting it. It's all wasted time and energy. 1 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2508 Share on other sites More sharing options...
Martinsx Posted November 6, 2018 Share Posted November 6, 2018 14 hours ago, focusedwriter10 said: I agree but the big question is, what is the number of Bitcoins that are yet to mined? Are there changes in the mining process? Definitely, there are changes in the mining of the available Bitcoin blockchain. Even though some people are finding it difficult to mine, those that can afford to build their own mining rig are having mining to be easy. Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2511 Share on other sites More sharing options...
Steve5 Posted November 7, 2018 Share Posted November 7, 2018 On 11/6/2018 at 9:37 AM, menchuuy58 said: The trend of technology is going toward a cashless society. I think the micro chips is already out there. The Bible says in the book of Revelation people could not buy and sell without the mark of 666 in their right hand or forehead. That's terrifying. I'd have to agree. It seems that a cashless society is inevitable. Especially, given the emphasis made on cryptocurrency. I hope by then we won't experience these end time predictions. It chills me to the bone thinking about it. 😱 Quote Link to comment https://slingbank.com/forums/topic/498-is-mining-dead/#findComment-2543 Share on other sites More sharing options...
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