Is 2022 BTC mining still worth participating in?
POWPOWER has been focusing on the mining neighborhood for 4 years. I am the official distributor of IPollo and have established long-term partnerships with Bitmain, Avalon, Jasminer, inno, Whatsminer and Goldshell.
Is 2022BTC mining really worth participating in?
From July 2017 to now, the mining difficulty has increased by 7.81% on average in 15 days. The price of BTC is between 2000-20000 US dollars. We can regard this as a coincidence phenomenon of technological upgrading and market expansion. The data research institute tokeninsight gave the average return rate of the mining industry in 2019 to be 30%. Mining has entered a stable period. Although there are not many increments of entry, due to the rapid rise in the price of BTC, the cost of mining coins has dropped, and the number of market entrants has increased. At the same time, due to the upgrade of chip technology, the computing power of mining machines has increased, and the original practitioners and equipment have been upgraded again. Market expansion and equipment upgrades have made the mining difficulty rise again rapidly this time. With the increase of mining difficulty, it means that there is an opportunity for profit in the virtual currency mining market. When the difficulty weakens or the huge profits are made, it means that the market has entered a period of reshuffle. Profits increase with the increase of entrants and equipment Popularization tends to be reasonable. Therefore, in the mining market, the reasons for the possible formation of huge profits should be studied before the advent of the period of huge profits, and during the period of market consolidation, we should not rush into and end rashly. You should also pay more attention to the market, the trend of virtual currency and the direction of scientific and technological development.
The mining industry has always been gambling. Maybe when you feel that the market is good, when you go to mine, the cost of the mining machine may be doubled when the market is not good. Therefore, miners who can generally make money are basically in the bear market, and only the bull market can make money. Otherwise, the layout of the bull market will only be able to make a return. The best time to mine was ten years ago, and the second is now. Fear of risk is a common feature of all novices, but please note that as long as it is an asset appreciation activity, it must have the attribute of risk. The purpose of cognitive risk is not to make us fear but to choose the risks we can afford to invest in. The risk factor in this industry is: buying coins > mining > cloud computing power. Cloud computing power is the process of leasing part of the computing resources of the mining machine from the operator of the mining farm for mining and obtaining BTC income. Even if BTC is mined, BTC mining still needs to exist. BTC mining belongs to a foundation. It is estimated that some subsidies will be given to miners at that time, or other large companies related to BTC will be responsible for continuing mining. At that time, other Industry needs to support mining. The profitability of Bitcoin mining is not only about equipment; there is a delicate balance between mining difficulty and Bitcoin price.