Analyzing Mining Profit in 2020

Back then in late 2017, i was mining Monero with my CPUs and got plenty of profit in no time. Another coins than Monero would be a good choice too because the cryptocurrency market was doing very good.

But how about now ? Can we mining cryptocurrency and make profit from it ? Well, it is depends from the crypto market.

For me, the current cryptocurrency market is better than last year because crypto market starting to rising now. You can see on coinmarketcap.com that the market capitalization of cryptocurrency is increasing, particularly on top coins such as Bitcoin and Ethereum.

Bitcoin halving has occurred few months ago, the block reward gone from 12.5 BTC to 6.25 BTC per block. For miners, of course halving is not a good thing because their mining profit will be cut half. The price of Bitcoin need to doubling so the miners can make the same profit from before halving.

We was expecting that Bitcoin price will increase after halving, but it was not happening, although Bitcoin price is now far better than the price before halving.

Ethereum is a good coin to be mined because the value is high in the market due the upcoming update. I believe we will get a decent profit if we mine ETH now. Why ? Because Ethereum coin is going to become a PoS coin, it means we cannot mining ETH coin with ASIC and GPU anymore.

My conclusion is, we may won't get profit as much as in 2017, but we can still get some profit by mining a good existing coin (because most new coins are scam). Ethereum is a good choice, it still has potential to become more valuable coin.





Author : Juice Shen

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