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Governor

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Q: anybody mining cryptocurrencies

is it even still possible or profitable in china

1 year 14 weeks ago in  General  - China

 
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General

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I’m not too sure, I know awhile ago I heard the Chinese government was going to raise the cost of power to mining farms and I think a lot of them moved their business to Russia or elsewhere. Are you talking about doing it yourself with your own equipment? I don’t think that is really profitable unless your doing on a large scale. Every bitcoin that gets mined the difficulty goes up so you would need new equipment like every year.

 

You know you can buy mining contracts with companies that already mine and make a bit of profit. It usually takes 1 year contracts and you can make some money. Although I’ve never bought one of these contracts but my friend does and he does make some money.... but you can loose money too.

 

My wife is into crypto more then I am. I know of it though her. She’s been doing it for 3 or 4 years and has quite a bit of money. She has a bit of Bitcoin but mostly she deals with the alt coins. It swings so much up and down you can make or loose a lot of money. 

 

She was going to do the mining contract things but the time length is so long that it’s hard to predict what’s going to happen, so it’s still kind of a gamble. 

 

I would just just read up on the cloud mining contracts and see if it’s something you’re interested in.... although doing it all yourself with your own gear ect.... I’m not sure that’s a good idea.

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1 year 14 weeks ago
 
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Shifu

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I feel like there are too many different kinds of cryptocurrencies and not much is known about them. I'll stick to more tangible assets for now. 

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1 year 14 weeks ago
 
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http://www.realclearlife.com/daily-brief/investors-face-190m-losses-person-cryptocurrency-password-dies/

 

Where is your money? Some where in the MATRIX. brother can you spare a dime.

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27 weeks 6 days ago
 
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