Yakub02
Banned
There are some factors that are regarded as demerit or disadvantage of engaging in Mining Business.
The Demerits are as stated below.
Market fluctuation. When currencies are mined definitely it comes with overhead cost. This is done with a view to sell at higher price when the currency takes on a higher value.. However market fluctuations can be an impediment to making feasible planning to get profit front the activity.
Competition. Competition in the market will always be happening to all business except the one that is monopolistic in nature. Therefore the competition can make one to force to sell at at reduced price even when it does not pay. It is good we plan along with the mind of competition.
Overhead cost. The overhead cost of business is also very pertinent to mining Overhead cost like electricity, transportation, Lubricant and other direct and indirect expenses associated with Mining.
Mining industry Is a very sensitive industry that one needs to be extra careful. It is important that the demerits are well managed to be on top of our business lofty objectives.
The Demerits are as stated below.
Market fluctuation. When currencies are mined definitely it comes with overhead cost. This is done with a view to sell at higher price when the currency takes on a higher value.. However market fluctuations can be an impediment to making feasible planning to get profit front the activity.
Competition. Competition in the market will always be happening to all business except the one that is monopolistic in nature. Therefore the competition can make one to force to sell at at reduced price even when it does not pay. It is good we plan along with the mind of competition.
Overhead cost. The overhead cost of business is also very pertinent to mining Overhead cost like electricity, transportation, Lubricant and other direct and indirect expenses associated with Mining.
Mining industry Is a very sensitive industry that one needs to be extra careful. It is important that the demerits are well managed to be on top of our business lofty objectives.
