I will tell you the answer immediately because I'm not the kind of guy to cause any suspense.
The future is very positive.
No matter what the naysayers may think, and there are a significant number of them, mining is going to slowly shape the international industrial landscape.
I know what you some of you may say.
"But won't mining get more difficult over time?"
"But won't mining take additional amounts of electricity that will offset the profits?"
The answer to the first question is yes, absolutely. However, the rate of increase in the cryptocurrency profitability far outpaces any percentage of mining getting more difficult over time. Over the last year, zcash has gotten around 100% harder to mine. However, the price has almost quadrupled since then (and you have to account for the fact that were are in a bear market, peak zcash price was around $859.00, which means that the price was 1200% higher and the difficulty was only 100% higher.
This means you are anywhere from 300%-1200% in profit each month, subtracting your initial investment.
The answer to the second question is also yes, mining does take an extraordinary amount of electricity. However, as cryptocurrency grows, we will soon be getting institutional support on that measure. In fact, it is already happening. The Venenzuelan government is turning to bitcoin mining, and allowing registry of it and taxes its users accordingly. Because there is free electricity in Venenzuela, you could say bitcoin mining is in fact subsidized by the government.
Now, obviously this won't happen across the world. In most places, electricity costs some good money, but there are certain places in the world where this is not the case, and it is up to you as a miner to find them.
A smart thing someone could do to counter this electricity problem is to mine cryptocurrencies with renewable energy. In fact, there is already an ico that is doing that called Envion. Check them out!
I hope with this article you are able to see that some of the concerns that people have, though very real, can be worked through with clever thinking and planning.
So what are you waiting for? Happy mining!
