Why everyone keeps on saying mining not profitable

[randomstrings]

I read many forums and groups, and no matter how good hardware specs you post, you get that one reply that mining aint profitable. Although they are on groups and forums of mining sw or app or hw.

One of my known started mining in 2017 when btc boomed past 10k usd, and as per last checked 3 years later he has 1btc and for me its worth the wait.

My assumption that all discourgers wants to keep competition away.

Let the noobs try their luck, we have failed inany project and no one says not gonna work to that.

 

[Lukmat]

Because they don't have RTX and they are crying when seeing RTX price? xD
Mining is profitable, but not BTC, rather ETH and ETH forks

 

[thesyndicate]

You can hardly mine BTC and there is so much BS like you can mine Dogecoin with profit you can not. But yeah you can mine.

 

[Starblazer]

If you have free electricity, you can mine for good profits. That's what Chinese farms have done in the past. You can try it if you're so confident about it. But keep in mind to have a stop loss.

 

[Salamouna]

But I've seen most of the people that say that never tried mining
I'm mining since 2017 too

 

[alurosu]

Because it's not.

https://whattomine.com/
Keep in mind rewards change from week to week. You might not get your investment back as soon as you think.

Most chains are moving to proof of stake and they will no longer mine with graphics cards.

 

[solidguy_82]

If your electricity is cheap then you should try. Mining is profitable but if you use comparatively cheaper hardware and if it is cheap electricity.
If you burn out your money in expensive hardware it can take you even 2 years to cover that money with mining

 

[MKSKS]

Mining is profitable if you have good hardware and free/cheap electricity.

 

[breakcode]

Because people can't wait and want to get back the money they invested immediately.

 

[alurosu]

Because people can't wait and want to get back the money they invested immediately.

You clearly didn't do the math

 

[breakcode]

You clearly didn't do the math

Are you telling me that with mining you get back the money invested the next day?

 

[roydan]

and as per last checked 3 years later he has 1btc and for me its worth the wait

You need to calculate how many satoshis they got per day, what was their value, and how much they paid for electricity each day. Most of the time it will be cheaper to just buy BTC.

 

[vinothmech]

Its a biggest lie I am mining for last 5 years
Started with 1060 card Now I upgraded all mine to 3070's and making money for living
Crypto mining changed my life
Now I am trading crypto. And lately started play to Earn crypto games
Crypto is the future and good way to earn money these days if you are Smart !!!