Altcoins: to Mine or to Buy? That is the Question - page 12.

uralcryptocoin

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Quote from: kleshovab7 on March 24, 2019, 11:52:12 AM

Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!

But could you tell just two examples of coins that were more profitable to mine than to buy?
And boxes should not be too much because in that case they will be small boxes

Asatur

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Some cryptocurrents are no longer beneficial for mining. If you do not have huge farms with free energy. Even Ethereum is getting harder with each fork.

kleshovab7

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Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!

bitc0000

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Quote from: uralcryptocoin on March 23, 2019, 08:37:07 AM

Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

Buying seems to be more profitable than mining for me because I compare earnings with friends and see I am better off. Currently, I now take some of my friends in trading classes since they now run at loss on mining

pieppiep

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Quote from: ivaf on March 24, 2019, 07:15:31 AM

Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.

cryptocurrency price conditions are currently being affected by the fall in bitcoin prices and weakening bitcoin demand, when demand in the market has started to increase and the price of bitcoin is starting to recover, the price of all cryptocurrency will also be expensive, if you buy tokens I suggest you be careful because tokens have a very high level of risk.

BitcoinTurk

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Although I don't have a mining experience, there are a few small details that I would like to point out. First of all, it would be a more sensible option for small investors to buy coins only because the small investor's budget would not be enough for easy mining equipment. On the other hand, there is a strong capital needed to generate significant revenue in the mining process, which prevents many investors from entering this area. Even though I think it would be fair to examine two options with equal budget, I think the mining process is more difficult when we compare the details. As a result, most of the market is composed of small investors.

uralcryptocoin

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Quote from: mrdeposit on March 24, 2019, 07:53:27 AM

Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.

I would no be so sure. For me mining is still profitable, I already paid back my hardware cost and got some profit. And my electricity is not free.
But if I bought coins instead of buying GPUs I could made much more profit

HappyCaptain

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i only a few knowledge about mining but base on what i on discussions, most of the miners is targeting new coins that has a strong team with a big community support because it has big chance to grow its price in the future while mining well-known coins in the market needs a big capital to set-up a good mining rig. it would be easier to just buy the coin directly on exchange and store it on a safe wallet that you owned the private key.

bendernine

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Quote from: shakesbear on March 23, 2019, 08:51:52 AM

Sometimes you can mine a coin that just started, and network difficulty is low, and it is not yet on exchange, I was lucky a few times, but the last time it was a year ago or even more. Most often I mined trash.

just as I was mining the coin in 2017 is a waste in my opinion because what I get is only coins which in my opinion are useless and worthless as if I had to be more careful in mining this year it might be difficult to find coins I think it's good this year even if I get it, maybe it's luck for me.

mrdeposit

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Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.

landoffaucets

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Maybe the best solution for you is to stake cryptocurrencies. For example NEO, Ontology or VeChain give you some coins if you stake them. So it is a good combination how to invest and mine in same way.

ivaf

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Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.

traderethereum

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If I were him and I have money to start in crypto, I will learn more about mining and trading. And if I can find that trading will be a potential way for me to make a profit, then I will choose to trade. I know that mining the coin will needed electricity and I need to calculate how much I will pay in monthly.

To start mining, you need to have at least $1000 to buy the equipment and set the places, calculate the electricity fee, how much rewards you can get. All you want to know is available on the internet, and you only need to search with the right keyword. That is what I will do if I want to trade because searching for what we want, we cannot know the answer.

You already know what you need to choose.

Quote from: uralcryptocoin on March 23, 2019, 08:37:07 AM

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

semobo

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Quote from: uralcryptocoin on March 23, 2019, 02:18:33 PM

Quote from: semobo on March 23, 2019, 01:11:56 PM

With the current price,mining is not going to be profitable so buying them with the money which has to be invested on the mining equipments is really a wise decision and you will make good profits once the price go bullish.

I talk that not only at current prices buying coins is better choise. Even during pump of 2017 year buying cryptocurrency had given more profit than buying GPUs/ASICs

Even at the bumps it is better to buy when we are short term investor but investing on the miners is totally waste of time so either buy cryptos or just don't invest on it.'

But when the market is bullish and the price is enough to cover miner expenses then it is kay to invest because it feels like long term investment.

AnonBitCoiner

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Quote from: uralcryptocoin on March 23, 2019, 08:37:07 AM

Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

Both mining and trading of altcoin had pros and cons. For mining , you need to start with a huge capital. But for trading, you don't want huge capital. You can start to trade with the minimum of 10$.Mining is a benefit one,if you are starting for long run. You have to pay for the electric bills in mining.So based on your budget, you can choose anyone among them.

kaya11

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Situation based on my side, I have free electricity so I'd go for mining rather than buying coins, sad truth I have no money to buy all the equipment needed. If only there are people who want to trust me and send their machines to me, I will mine for them, if there are people interest I will be open for negotiations.

togamamora

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My friends are mining GRIN but I am not. I would rather buy the coins and stakes them (is available) in my wallet. I find this easier. Skip the hassles of buying & setting up the miner and I do not have the pressure to sell the coins to get back my capital.

aioc

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Quote from: togamamora on March 23, 2019, 08:42:37 PM

My friends are mining GRIN but I am not. I would rather buy the coins and stakes them (is available) in my wallet. I find this easier. Skip the hassles of buying & setting up the miner and I do not have the pressure to sell the coins to get back my capital.

There's indeed cost in running a miner to mine the coin, and it's not even preferable to mine in the bear market, and the pressure to sell it even at a lower price is quite depressing just to cover your expenses, those miners who mine even if the profit is very low are doing it for a hobby.

Red-Apple

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Quote from: uralcryptocoin on March 23, 2019, 08:37:07 AM

PoW mining is less profitable than just buying coins ever.

that statement on its own is wrong because it depends on a lot of different factors.
for example your electricity cost is the biggest factor that can affect the profitability. someone with a cheap electricity will make a lot more profit from mining than someone with a higher one.
then it also involves your experience in the altcoin market, because a big part of mining altcoins is about choosing the right one at the right time and being able to dump it before it dumps and move on to another one. if you continue to mine and hold a shitcoin that is done pumping and continues to dump then obviously you lose money!

Quote

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

the risks of PoS coins is a million times more than the risk of PoW coins.

coin-investor

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Quote from: uralcryptocoin on March 23, 2019, 08:37:07 AM

Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

I also prefer buying coins than mining it, especially if the coin is dipping the cost of the electricity in our region is quite high and I don't want my to push the hardware of my computer, because I intend to use my computer for a longer period of time.

Topic: Altcoins: to Mine or to Buy? That is the Question - page 12. (Read 4449 times)