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Is it still possible to mine cryptocurrency today.
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[QUOTE="Good-Guy, post: 237107, member: 29109"] Mining cryptocurrencies is still a possibility, but I would like to tell you that mining cryptocurrencies is no longer that much profitable due to various reasons. let me highlight some main reasons why cryptocurrency mining is not worth anymore and why it is only worth it if you invest a lots of money. Moreover, even many so-called "cloud mining" websites are not even worth it. [B]High Mining Difficulty[/B] High mining difficulty is one of the main reasons why mining Bitcoin or any other coin is so hard. When Bitcoin was launched in the year 2009, the mining difficulty was quite low and people who earned Bitcoin through faucets became rich later on. [B]Cloud mining Sites Are Not Reliable[/B] The fact of the matter remains that cloud mining sites are not reliable because majority of the cloud mining sites have nothing to do with mining coins at all. Majority of the cloud mining sites are pyramid schemes and they merely deceive their customers and investors into thinking that they are reliable cloud mining projects. [B]Buying Equipment[/B] The only way to truly make money by mining is to buy very expensive equipment like ASIC miners. There are a few coins that are ASIC miner resistant, but even they would require you to buy expensive computers to mine those coins. [/QUOTE]
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