Altcoins: to Mine or to Buy? That is the Question - page 7.

uralcryptocoin

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Quote from: Adriano2010 on June 03, 2019, 01:43:19 PM

For some people mining is still not profitable because of the price of electricity and they can't make a profit and have to pay from own pocket. uralcryptocoin where you are (Europe, Asia, USA, Africa) ? I ask because of the electricity price. Good luck further, i wish all the best.

My electricity price is about 0.05$ kWh now. It's test\experimental rig. Unfortunatelly I can't run more rigs at this price.
But if I place my rig to datacenter my operating costs will be calculated from electricity price of 0.12$ per kWh

Also other charges should take into account: hardware amortization (the total cost of the equipment decrease in time), time for maintenance time and unplanned downtime

Adriano2010

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For some people mining is still not profitable because of the price of electricity and they can't make a profit and have to pay from own pocket. uralcryptocoin where you are (Europe, Asia, USA, Africa) ? I ask because of the electricity price. Good luck further, i wish all the best.

Mike Mayor

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I have also asked myself this. If you interested in a currency you can just buy it. THough I found myself mining some new currencies and may not have bought them if I was not mining since I didn't have to do anything to mine and I was getting some work out of my rig. In cases like this, it is best to mine. Any opportunity you get to mine you should take. It could also pay off. YOu say but why not just buy more coins? Well sometimes you should. I think when you mine you feel more like you investing for free (the cost of electricity) then investing money into it. At least that is how it was for me.

uralcryptocoin

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Quote from: fosco333 on June 02, 2019, 10:43:59 AM

I guess mining with mining rig will need more time to get the ROI (Return of investment) due the market price.
In 2017, mining was profitable because the price of crypto was very high.
In other hand, mining coin with staking method is a good option to gain ROI. But there are many scam PoS & MN coins so we need to careful.

The same can be said about buying and holding in 2017.
Now I will analize current situation and will make a descision at first for myself what investment model is better. Maybe some combination of mining and holding will be optimal

fosco333

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I guess mining with mining rig will need more time to get the ROI (Return of investment) due the market price.
In 2017, mining was profitable because the price of crypto was very high.
In other hand, mining coin with staking method is a good option to gain ROI. But there are many scam PoS & MN coins so we need to careful.

Serco

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Quote from: Burogh on June 01, 2019, 10:14:29 PM

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 and build miner equipment need money at first and i think both are profitable. If we want to mining PoW altcoin, i think its depend on electricity cost and altcoin price. But for mining, i think its better to mine bitcoin because its main cryptocurrency in market

mining bitcoin has certainity about its price in future.maybe at this time we could not earn profits, but i am sure when bitcoin halving happen everything changed.our loss in mining could be profits when bitcoin price reach $100k.

Burogh

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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 and build miner equipment need money at first and i think both are profitable. If we want to mining PoW altcoin, i think its depend on electricity cost and altcoin price. But for mining, i think its better to mine bitcoin because its main cryptocurrency in market

freedomgo

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Buying it would be simple, and you are doing it with a good timing now is the market of the altcoins is not yet fully bullish, you can still buy at a cheap price.

Tinno

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it is necessary, if possible, to do both, and mine, and buy cryptocurrency.

PuertoLibre

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Mining is no more cost-effective if you don't enough equipment for this purpose. Using capital power and compound interest making a profit with altcoin trading is easier if you know what you are doing. Arbitrage trading bots are lucrative if you can adjust the right settings for each exchange.

shoreno

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Quote from: asepsetiawan1990 on June 01, 2019, 07:21:25 PM

In my view, everyone has different ways and mindsets, but basically everyone is looking for profit. If you want to get a big profit, I think the capital you have to have must be big,

You can still earn big with or without big capital but as long you know what you are doing . You know the coins that you are going to invest and you are in control of situation whenever there is a crisis in the crypto market .

Quote from: asepsetiawan1990 on June 01, 2019, 07:21:25 PM

example:
- Mining (the greater the capital to build a mining rig, the greater the profit that will be obtained, with a note that a miner has experience in their field)

Big capital is not enough . You must also inspect your sorroundings like for example if your electric bills is cheap or you have a large space and good temperature at your area because this will have an impact on your mining business

asepsetiawan1990

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In my view, everyone has different ways and mindsets, but basically everyone is looking for profit. If you want to get a big profit, I think the capital you have to have must be big,
example:
- Mining (the greater the capital to build a mining rig, the greater the profit that will be obtained, with a note that a miner has experience in their field)
- Investment by buying tokens that have good prospects, The more capital we have, the more tokens we can have and if we sell at a good price. The more results obtained.

However, if we buy tokens the process will be easier than having to build a mining rig,
(this is my opinion

)

uralcryptocoin

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Well the summer begins and I begin my experiment.

Mining vs. Buying Challenge

The inintial conditions are as follows:

2000$ is spent for mining equipment
2000$ is spent for buying coins

Now I put my rig to Nicehash
Mining profitability is calculated as I posted earlier:

Quote from: uralcryptocoin on May 19, 2019, 12:05:08 PM

While waiting of BTX price consolidation I estimated my mining costs.
My rig is about 1-1.1 kW power from outlet. For simplify lets consider 1 kW. At 0.05 cents per kWh the rig consumes 0.05 * 24 = 1.2 USD
Also it should calculate hardware ammortization. I think in 3 years the harware will lost 75% of it's current price. Also for simplifying lets consider linear price reduction.
So it will be as follows:
2000 USD * 75% = 1500 USD then
1500 USD / (3 years = 3*365 days = 1095) ≈ 1.37 USD

Total costs for the mining will be: -1.57 USD

At current mining profitablitiy for the config of 5-5.5 USD per day the pure profit is 3.5-4 USD (not so great but also not so bad)

P.S. in nest several days I will prepare pre-analytics for both mining and holding (plots, tables, etc)

My coins portfolio looks as follows:

I used coinmarketcap data for BTC\USD price calculation
My BTC I've put for 4.08% Annual interest at freebitco.in resource to get additional satoshis)

P.S. The results of next week I will post at Sat\Sun

P.P.S. Further I will update the OP of the thread and create plots to make this challenge info more usable

newgal2017

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Today? It's buying or trading. I think mining is really expensive today from the mining equipment you're about to use, the electricity you're going to consume to run your hardware, rigs on where you're going to put your equipment, maintenance of it and you need to wait for a long time to recover your investment rather than trading or buying in a matter of time you might have a profit on your pocket but you may lost a little too in just a matter of time.

Janna_MaMa

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Both are beneficial when you keep it long term. Exploiting need large capital to invest in machinery, so choose potential and great value coins. I only recommend. When the coin price is reasonable or has made a profit, sell it

btccrusher

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It's a complicated thing that you can't choose the option without experiments. In my case, I prefer PoW mining, because it doesn't require me putting more money in anything new if I have mining equipment. Also, most PoW coin holds its price uptrend for a long time. On the other hand, PoS mining requires to buy coins at their new arrival, obviously, they fall faster than I could imagine. Users dump them to get the ROI. I hate this game, so PoW is the winner.

starblocks

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Mining can be worthwhile if a project has a strong development team, represents long term viability, and has adequate profitability and liquidity, but if it's not generating a decent ROI then its far better to invest, especially when any alternative asset is under its average mining costs and then wait until the market uptrend results in its appreciation

94K

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Mining can be profitable in cryptocurrency but its not meant for everyone. If you want a long term investment then I suggest the buying.

Akoldi_ibk

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Mining can be profitable as well, but it is not meant for everyone. The complexity, cost intensive and sophisticated equipment, not just anybody can handle it. Even the so call cpu mining for me is too much. While not just stick with buying, selling, holding, airdrop, bounty etc, which are quite easy to maneuver and earn as long as some key principles are adhered to. I go with anything apart from mining in this space to make profit.

darewaller

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Quote from: ryan992 on May 21, 2019, 02:06:07 AM

I don't have experience for mining, so I would like do buy coin in ICO etc if we invest in good coin we can get mo profit, or do some bounty campaign for altcoin.

I don’t also see anything that special in mining mate, I think mining Is just being over exaggerated, just like the way they usually blow pre ico out of proportion and many people rush to buy it, and then you realize that you will still get the price far cheaper in post ico.

I think we should just buy and hold some of these coins, although someone has to mine, because if they don’t mine, how can we get supply, so everyone cannot just be a buyer, but for those who would want to buy, I think it is far more profitable to buy some of these coins than hold considering the cost of even setting up the mining farm.

Topic: Altcoins: to Mine or to Buy? That is the Question - page 7. (Read 4449 times)