Bitcoin mining and electricity

[Falcon]

Now the price of Bitcoin has passed 50,000 USD and it is certain that Bitcoin has a very large value of funds, aka 1 Bitcoin by buying pretty good mining equipment.
So now Bitcoin mining and electricity can be enjoyed because it refers to the Bitcon price, this is inversely proportional to the price of Bitcoin in 2018 and 2019 which is very cheap from All Time High 2017.

You re right mate,  when bitcoin price is so high, I think bitcoin mining and electricity can be enjoyed.  Because electricity cost is so high, equipments for mining  are expensive too.

For me even bitcoin price dump the cost of electricity never change. I do view miners both enjoy the benefits in times of dump and pump. I also think it is more advantage to mine bitcoin at the decline time. Because the higher bitcoin to earn although lower the usdt value.

[Doctor]

For me even bitcoin price dump the cost of electricity never change. I do view miners both enjoy the benefits in times of dump and pump. I also think it is more advantage to mine bitcoin at the decline time. Because the higher bitcoin to earn although lower the usdt value.

Of course, I agree with you. I think buy when low and sell when is better than mining and electricity.  I think trading and holding are more profitable than mining now. I see many investors already do trading , not as miner again..That's my analyzing mate, maybe other member has own opinion.

[Nusrat]

All the work in the world now needs electricity.  In fact, BTC requires a large supply of electricity to excavate.  Many people comment on the use of electricity in Bangladesh.  Because after the winter season comes too hot.  In this heat, Bangladesh shows a little more load shedding.  There are many types of problems.

[Zezari]

I myself would start mining bitcoins, but only for this you need good equipment, as you do not watch TV, the underground bitcoin mining workshops are closed by the FSB. Occupy huge territories and it brings a huge income until they catch and take away all the equipment.

[Sharelock]

Bitcoin mining is very profitable even though the electricity payment costs are very high, but everything can be paid off and still get a profit.
But in my opinion is the biggest bitcoin miner really in china? isn't Russia also the biggest bitcoin miner?
Anyone please explain my question

[Octoalts]

Currently, if we want to mine Bitcoin, it will cost a lot of money, electricity is one of them that we have to pay a high price for. Why do we have to have sophisticated and expensive equipment if we want to mine Bitcoin, this is because out there the competition in producing Bitcoin by mining is very high and if our tools are not sophisticated then we will lose to them. High cost, large electric power will cost a lot.

[Carbitcoin]

I believe that under the current conditions for those people who consider almost every dollar of their income, not only buying, but also mining Bitcoin is practically unattainable due to a sufficiently large investment. I suppose this should have been addressed early when many of us had doubts about bullshore in early 2021.

[mlawson71]

Does anyone have any information in which country it is most profitable to mine Bitcoin due to electricity prices?

[Freemind]

Does anyone have any information in which country it is most profitable to mine Bitcoin due to electricity prices?

According to the latest study conducted in 2020, the country with the cheapest electricity is Iran, priced at $0.01 kilowatt hour. But it's so cheap because they tend to suffer a lot of supply outages, so I don't think it's worth mining Bitcoin in that country. You can find more updated prices on the internet, but I don't think they have changed much in a single year.

[Afony]

Why Bitcoins can't be mined legally if it makes a profit. Why not take the equipment on credit to rent a room and pay for the light, I just wonder if the profit will come out or you will still pay for one light.

[Rj Manik]

Our country electricity price huge.So I never think mining cryptocurrency. becuase hwen the month end and electricity bill is coming then see i am mad.☹️

[Freemind]

Bitcoins went up only because of Tesla.

Other than the fact that this is not the topic that is being discussed in this thread, I suggest that you improve your posts so that no moderator sends you a poor quality warning. I also recommend that you read the rules that you can find in the upper right corner for more information on how the forum works, thank you.

[Zezari]

You can try mining, make yourself huge solar panels and buy Asic. Let the sun earn cryptocurrency, and what I think will be profitable. There will only be one problem to find a lot of bitcoin mining equipment.

[Freemind]

You can try mining, make yourself huge solar panels and buy Asic. Let the sun earn cryptocurrency, and what I think will be profitable. There will only be one problem to find a lot of bitcoin mining equipment.

Last time I read articles about what you say, it took a lot of solar panels for a single Asic, and I think solar panels are still not profitable for any kind of mining. Maybe in the future solar energy will be much more efficient than now and it will be possible to mine, but at the moment I do not think it has a future.

[Carbitcoin]

You can try mining, make yourself huge solar panels and buy Asic. Let the sun earn cryptocurrency, and what I think will be profitable. There will only be one problem to find a lot of bitcoin mining equipment.

Last time I read articles about what you say, it took a lot of solar panels for a single Asic, and I think solar panels are still not profitable for any kind of mining. Maybe in the future solar energy will be much more efficient than now and it will be possible to mine, but at the moment I do not think it has a future.

consider this fact that solar energy is still efficient, if the equipment is not too expensive. but one way or another, the cost of solar stations increases in price due to the cost of storage batteries. in the summertime, mining without batteries can be quite buyable and efficient from solar panels.