Topic: Bitcoin Mining vs Buying - page 2. (Read 730 times)
Bitcoin mining is far more preferable compared to buying. Bitcoin is currently too volatile and putting money in buying it most times make you to lose money. Remember that trading is far risky than mining and I think mining is still more profitable than investing.
buying is a great way to get good profits rather than mining Bitcoin, as already said people here are better off buying not mining. mining will only be a waste of time and costs for that need a good computer and electricity. I personally prefer to buy but if you want to get good profits and have skills in mining or trading then you have to undergo both mining and buying.
Is it better to get BTC via mining or buying now?
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
Many people leave to mining just reason in the market volatility. Mining is loss project because it will cost a lot of accessory (Electricity cost is a big deal) but it dose not get any benefit accordingly. Better way to BTC investment i think. It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
The price of the Bitcoin has got down, but the mining difficulty level has gone up and the reward is also decreased by 50% down, so still mining is not profitable if you want immediate profit, If you just mine and save the bitcoins received for long term then it may be profit when the price will move up and till then you would have mined lot of Bitcoins. If you dont want any thing to do then better start buying the bitcoins on each dip and save for long term. Which is much better right now to do.
You have to check whether it is profitable to mine, you can use whattomine website and input your electricity cost for calculation. For me, I will rather buy Bitcoin than mining.
It depends on where you come from and how much you believe in the Bitcoin revolution,
- Location matters when it comes to mining costs especially power tariffs. where i come from, power tariffs are so high and so at the current price of BTC, one would be mining in losses. So it makes buying the deep or day trading more sensible
-Belief; But if you believe in the bitcoin Network and you are looking at the long term benefits rather than short term, then why not try out mining?
- Location matters when it comes to mining costs especially power tariffs. where i come from, power tariffs are so high and so at the current price of BTC, one would be mining in losses. So it makes buying the deep or day trading more sensible
-Belief; But if you believe in the bitcoin Network and you are looking at the long term benefits rather than short term, then why not try out mining?
Buying is by far the best option. It doesn't even compare to mining. When you buy you get all your money converted to coins instantly and when you mine you get your money converted to mining hardware that slowly mines coins. It's a much less efficient process. What would you say if a Bitcoin exchange started paying back your Bitcoins in shares instead of giving you them all at once?
I think so possibility right Bitcoin buying will make profitable,it is the understanding simple.you have to buy Bitcoin with the lower price then when Bitcoin price going up increase, simply your profit will increase.so now Bitcoin holders people need buying for the current lower price and have waiting little more days.
Previously Bitcoin mining was profitable when Bitcoin price was $10k+ but Bitcoin price is now only $3k+ and to mine a bitcoin, miners costs are over $5k+. So it is not profitable to mine now but buying Bitcoin is profitable now if to hold few days.
Mining isn't worth it unless you need heat for the winter or you have free electricity. If you are holding onto your mined coins it's always better to just sell all your hardware and buy the coins if you are a speculator. The days of easy money through mining are gone, GPUs only make a few cents a day even with low electricity costs.
Bitcoin mining is getting harder and harder as time goes by. Now considering the price of bitcoin at around $3,300, it makes bitcoin mining less profitable. The cost of mining, the difficulty of mining, and the low price of bitcoin combined, looks not so profitable for small miners. So, probably it is time to shift to buying bitcoin and then hold.
Is it better to get BTC via mining or buying now?
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
I don't think that mining is profitable now.. The electricity costs a lot and btc price is not really good now.
As for me I prefer investing. There's a good possibility for it now.
Cloud miners are almost all ponzi schemes.
Even if they did actually own machines, if professional industrial miners can't turn a profit with their vast economies of scale and special power deals how can someone who doesn't have any of that and has to make two profits, yours and theirs, do it?
As for going into real mining, here is something I have never seen written on here - I am so pleased I chose to spend all of my money on electricity, premises and mining machines instead of just buying BTC.
Even if they did actually own machines, if professional industrial miners can't turn a profit with their vast economies of scale and special power deals how can someone who doesn't have any of that and has to make two profits, yours and theirs, do it?
As for going into real mining, here is something I have never seen written on here - I am so pleased I chose to spend all of my money on electricity, premises and mining machines instead of just buying BTC.
I think mining now is no longer relevant, and it cannot provide an advantage anymore, and buying it is better, because it will be able to provide better benefits.
if you can mine bitcoin then it is the easiest way of earning a passive income of bitcoin. but that requires some little amount of maintenance and also will only work if you have a lower tier electricity cost.
with the new developments you can also start running your full node and with lightning network gaining more popularity you can set an LN node and earn some fees through that too.
as for buying my preference is investing in bitcoin rather than trading it and i believe that is the best way of it. trading is best done with altcoins since their potential is only short term.
with the new developments you can also start running your full node and with lightning network gaining more popularity you can set an LN node and earn some fees through that too.
as for buying my preference is investing in bitcoin rather than trading it and i believe that is the best way of it. trading is best done with altcoins since their potential is only short term.
Is it better to get BTC via mining or buying now?
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?
If yes, any suggestion? There are quite many cloud miner in the market.
Mining at 0.10/kilowatt, essentially a dime per kwh will net your -$2 USD, .e.g. you lose two bucks a day when mining on an ANTMINER s-9, trouble is hardly nobody sells electricity that cheap, normal price is 0.15/kwh
Say you were a gold miner, if you can't get 2X of GOLD for expense then you close the mine, funny how the asshole here still with a straight face call it 'mining', when its in fact no longer profitable, and if it were 'mining', it would be 100% shutdown.
Now towards BUYING, that is a fools game, PAYING real money for random numbers was always a MORON-PLAY,
Mining back in the day, was ok, hell last year you could get 50 barrels of oil (value) for 20 barrels of oil expended energy, say a 250% ROI, ok but now IT's GAME OVER as they say,
Lastly, everybody KNOWS that BTC is going back to $1k first, then $400, so why in the hell buy now, when you can wait, and accumulate later, just don't HODL, cuz the long term value is ZERO.
Mining won't work now, as you can see the price of bitcoin crashes and no one of us know when it will going to come back. Mining requires a lot of energy and high end equipment that would fit to mine the Bitcoin the higher the equipments specs the higher the hashing rate and the higher the hashing rate the more bitcoin you've earned however the price of bitcoin is really far from the price of the equipment you're going to buy, the electricity you're going to pay.
So buying is the most fit for this kind of circumstances.
So buying is the most fit for this kind of circumstances.
In most cases, mining is no longer profitable at current price as energy is pretty expensive, mining difficulty has raised a lot in time (even if recently it got adjusted with ~15%) and you need to buy the most performant miners to make some profits, but their price is huge. (Few thousand $).
If you have no free/very cheap energy, a better option is to buy and hold. Current price for btc is very affordable comparing with few months ago and buying for holding long term seems to be the best option for now.
If you have no free/very cheap energy, a better option is to buy and hold. Current price for btc is very affordable comparing with few months ago and buying for holding long term seems to be the best option for now.
Mining is getting harder because operational costs are increasingly expensive while the price of bitcoin is getting lower. Despite the price
bitcoin is getting cheaper but there must be a positive issue so investors want to buy bitcoin.
both have a big risk, I prefer to wait for the best moment.
bitcoin is getting cheaper but there must be a positive issue so investors want to buy bitcoin.
both have a big risk, I prefer to wait for the best moment.
Mining is almost dead. At least, if you want to mine alone, then there is no point in it. Holding Bitcoin is a good idea, especially now that Bitcoin is at its lowest point.
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