Had enough of hypothetical questions yet? No? Good.
Only you can choose if mining is right for you. Consider the following:
Location constraints
- Is your home or apartment equipped to be able to house your equipment?
- Will the level of heat put off by your equipment affect your space negatively?
- Are there any major fire hazards in your location that can be exacerbated by mining?
- Can your equipment remain powered on for long periods of time?
Financial constraints
- Can you afford the upfront cost of:
- Equipment
- Electricity
- Cooling
- Housing
- Equipment failure
- Are you prepared to take large financial losses if Ether devalues?
- What will you do if/when Ethereum switches to Proof of Stake and you can no longer mine?
Technological constraints
- Do you understand basic technology?
- Can you perform basic (unassisted) troubleshooting?
- Do you consider cryptocurrency as more than just a tool to make money?
- Are you willing to learn more about Ethereum and other alt coins?
If you answered no to any of the above, it is in your best interest to seriously reconsider mining.