03/07/2023
5 reasons to start mining crypto now
So why should I buy equipment and start mining now?
First of all, the rise of bitcoin. The value of bitcoin depends on halving, which happens every 210,000 blocks and reduces the remuneration for miners by 50%. This is done to control inflation and increase the value of bitcoin. Every time halving occurs, the expectation of an increase in the bitcoin price increases. The theory is that as the reward per block decreases, the number of bitcoins liquid in the market decreases, which can lead to an increase in demand for this cryptocurrency and therefore an increase in its value.
Second, the low price of electricity. The energy system is set up so that there are regions with a surplus of electricity produced. Unclaimed amounts of energy are freely transferred to miners.
Third, diversification of the investment portfolio. Investing in different assets can reduce risks and increase potential returns.
Fourth, the prospect of legal regulation of mining. The law on the legalization of mining is being actively discussed. Many officials and organizations, including the Ministry of Finance and even the Bank of Russia, have reconsidered their attitude to cryptocurrencies and spoke "in favor" of the law. Most likely, mining will be equated to entrepreneurial activity with clear tax conditions and game rules.
Legalization will attract a large amount of money to mining by strengthening the position of the players in this sphere, who will understand what tax restrictions apply to them and what profitability they can get.
Fifthly, the profitable cost of equipment. The prices of mining asics depend on the current value and profitability of bitcoin. The minimum price of equipment usually coincides with the minimum value of bitcoin.
It is now possible to buy top-end models of asics much cheaper than it was a year ago.
