1. For most miners, mining is the cheapest way to get #BTC. If you insist that buying coins is the best way, then I can't help you, because mining is an overlapping process and the price of coins is fluid. Now we see that the price of BTC is $60,000, and we think that mining is unprofitable, which is exactly the same as when we saw the price of BTC was $19,000 in 2019.
2. It is difficult for ordinary people to make a profit from mining because the definition of "ordinary people" is too broad. Ordinary people in the Middle East, ordinary people in Africa, and ordinary people in the United States are all ordinary people. Many friends' mining pools or mines are located in the Middle East, where many ordinary people place three or five second-hand mining machines at home for mining. In addition, there are many people in India who steal electricity for mining, and the cost is almost zero. Most of these people who steal electricity are also ordinary people, and the proportion is quite high.
3. Mining is a long-term investment, and the so-called buying mining machines at a high point is relative. Some people think that BTC can rise to at least $100,000, and at the same time think that mining is not profitable, then miners and mining machine sellers have starved to death. In fact, most miners, like holders, are betting that the price of BTC will continue to rise. If you think that the price of BTC can only reach a maximum of $60,000, then no one may buy BTC.
4. I do not have mining experience in this cycle, and I do not even rule out the situation of "bringing a small account". Of course, if you only buy one mining machine for mining now, it is indeed difficult to make a profit, but this does not mean that you cannot make a profit. For many "ordinary people", they certainly cannot buy new mining machines, and the most likely thing they can buy is the first or even second batch of eliminated machines. If the previous owner does not cheat you, the purchase cost will definitely be cheaper than a new machine, but if you are cheated, it will be endless trouble.
5. Now many machines are directly entered into the mining pool after purchase, and all the costs are basically only electricity and hosting fees, and the maintenance fees are basically included in the hosting fees. There are two types of hosting methods: fixed charges and proportional charges. This is its disadvantage, but the advantage is that you can get profit sharing by joining the mining pool, which is inevitable. As long as the price of the currency can cover the electricity and hosting fees, you can make a profit. But even if the price of the currency cannot cover them, will you definitely lose money?You can refer to the BTC price of $3,800 in 2020. As long as you believe that the price of BTC can rise, as long as you dare to hold it, when others shut down their computers, your income (calculated in BTC terms) will be higher. The premise is whether you have confidence. If you don't have confidence, can you hold BTC?
6. I don't recommend that everyone go mining, because mining is indeed not as complicated as imagined. As for whether the income from holding coins is greater than the income from mining, the previous article has made it very clear. You hold coins because you are optimistic about the future of BTC, and you mine because you are optimistic about the future of BTC. The two are not contradictory. Even miners currently hold more than 1.8 million BTC in total, and the number sold in the past six months is only tens of thousands. As a joke, my former neighbor used to steal electricity from public lights to mine, and some friends were more direct. They took mining machines to the company to make money and put them in the computer room. Some people even put them under their feet blatantly. Of course, these are just jokes.
I don’t really know enough about miners and the mining industry, especially after 2021, I stopped mining for well-known reasons. But I made some money from mining last cycle, mining#BTCand #ETH. So from a personal point of view, at least in the last cycle, ordinary people would not necessarily lose money from mining. And this cycle, if the goal is for BTC to reach $100,000, it’s not too late to make a layout now. Of course, if the BTC price can only reach $70,000 or $60,000 at most, then the possibility of loss is very high. But this loss is based on the assumption that the BTC price will not exceed this level in the future, and as long as there is another cycle, who can say for sure?
