Bitcoin mining costs exceed Bitcoin’s worth?

[erikson.partner]

JP Morgan has stated that Bitcoin’s mining costs now exceed its worth. How do you think this will affect the miners and the difficulty of the mining algorithm?

[mycryptohustle]

I think currently mining of any coin is not profitable.

[africuniaBank]

At present mining of crypto currency are not that profitable. May be we should wait some time because virtual currencies mining may give more profit after some time.

[HarrisSteve]

The mining process is relatively exceeding than the worth of bitcoin itself however in the long term as the price of bitcoin normalize the rate of mining will decrease

[Vlad96]

According to Alex Kruger, an economist and a global market analyst, Bitcoin mining is finally profitable. Who to believe?

[Jeffbrad]

The mining process is relatively exceeding than the worth of bitcoin itself however in the long term as the price of bitcoin normalize the rate of mining will decrease

But there was no ETA about when the price of bitcoin will be back again at the top and create a stabilization to the miners. that's why a lot of people are switching their coins to the altcoin right now.

An altcoin like veil can give the same profit as what bitcoin does. Veil was using POW too like bitcoin to secure its blockchain and it combined with POS system to able defend the blockchain itself from 51% attack. Switch to the altcoin mining is the best way.