BTC Mining vs Buying - page 22. | Bitcointalksearch.org

pokeronlinestatus

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Quote from: shone08 on November 10, 2017, 01:39:01 AM

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For me I personally prefer buying. Mining is great but it is too complex to earn something profitable because your earnings might go instead to paying electricity bills in using your custom mining rig(although there are already preferred rigs out there). In buying I could just keep on holding it and wait for the price to rise up so I can sell it profitably. I'll invest some of my BTC in a campaign while I keep on holding my other BTC.

Buying or mining are both profitable and yes you have a point if I will choice between this two I also prefer to choice buying bitcoin than mining because in mining you need a good equipment that cost a lot plus the electricity you can cost while if you buy bitcoin you can trade this in some trading site or invest in some project that will give you a good profit but this is my own opinion it’s up to you which one will you choice.

I also prefer buying over the mining of bitcoins .this is because the mining process is itself too expensive and once you gain control of the whole setup for mining process including the nonstop availability of electricity through long hours and also the expensive setup, you are able to get the Btcs according to the desire but the profit is almost equal to the expenses of the process.

Therefore the preferable way is to buy the coins at the time of dump and then sell them at high prices earning huge profits without any input effort.

noictib

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Quote from: windsee on November 07, 2017, 10:18:57 AM

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.

Thanks.

Here if you are going to use those minded bitcoin , that you will mine through your miner at the current time then I don't think that you will get much profit than what you are expecting Because due to cost of the electricity bitcoin mining is not profitbale .
But if you want to mine today and want to use fmafyer long time then may be it will be profitable for you .
But here for you I will give suggestion to go for mining of another coins likes dash , Etherium and more another , or just buy bitcoin now because price of the bitcoin increasing day by day smoothly that is much profitbale for all the bitcoin holder.

ahmad21

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Mining has always been profitable but not for everyone. Profitability of your mining depends upon numerous factors. Especially the type of hardware you are using to mine your coins. But yes it takes whole lot of time and diligence to successfully mine bitcoins. Buying is much easier but yes here you will just be entitled with some trading profits and a long term price surge profit.

ardhigalau

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Quote from: windsee on November 07, 2017, 10:18:57 AM

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.

Thanks.

All depends on your budget, if you have big budget I suggest mining. You need to know the cost of building a mining rig is huge.

But if you want to get bitcoin quickly, I suggest to buy it.

tamoymie

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buying is wise. than waiting for a long time for a bitcoin alone on a mining. one thing, bitcoin now a days has a huge potential of growing faster, so its better to have it now as an investment while mining on the other hand. much wiser right? but, if you dont have the money to invest... then mining will be a constant action my friend!

pat4cryptoreal

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Mining needs a lot of technicality and energy. So I just prefer to buy and keep then sell when the the goes up. Anytime the price drops you can buy again.

googs84

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Bitcoin as a successful cryptocurrency giving its users/investors options of earning money. If you knowledge of computers, electrical equipment's, internet networking and domain. Have big land or space, or living in a area/country where electricity is cheaply available. Then you can start bitcoin mining activity at your place and start earning money in bitcoins. For those who have money and are ready to make investments can go for bitcoin currency. Bitcoin is a volatile currency, its price varies from time to time. Before investing do study its movements. Right time investment give you a good percentage of income in return.

Mary ann Labor

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It is easier to buy bitcoin because you'll just wait the price increase and then sell it to get a big profit ,but in bitcoin mining it is really expensive because you will have to pay for high electricity cost to run the hardware as well as cooling units and there will be regular maintenance cost.

sangwookie

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Put it all on the line and go for broke

I am thinking though that we should mine so that the big powers don’t own all the hashing power and then manipulate the market. I think I will get a miner for the sake of the community so we don’t have another bch mess.

RealKhan

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Advantages of buying bitcoins over mining

- Mining can get really expensive. Costs include buying the miner (a dedicated machine) itself, accounting for its storage, security, electricity costs and even internet costs, its maintenance and the long duration of time and efforts. Therefore, with the amount of initial investment, there are no extra profits.

-The value of bitcoins can fluctuate while mining. Bitcoins can deflate in value and remain unstable in cases of technical glitches with the system or bitcoin exchange markets.

-It’s instant — even the best bitcoin miners can take hours or days to mine their bitcoins. Buying on the other hand — is instant since you’re picking up pre-existing bitcoins.

-The transaction fee is negligible compared to the costs for hardware, electricity etc. that you have to bear when mining your own coins.

Advantages of mining over buying bitcoins

-Bitcoin mining allows their users keep a track of their transactions. The bitcoins are untainted.

-There is no extra fee that is charged for acquiring the coin apart from the investment in hardware (this itself may be substantial though).

Erkallys

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I will be original, and simply tell you it really depends of your electricity price. If you leave in a country like China, Serbia, etc. when the electricity is really cheap, you can consider mining, in the other case, better buying directly, because the difficulty rise combined with your high electrical costs will in the long-term kill all the profits you made.

The Alchemlst

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I would suggest buying instead of mining. Buying bitcoins have been proven profitable and you can base your actions to alot of investors doing it although mining is also profitable it is not that advisable because its efficiency changes as more coins are being mined plus there are alot of things to consider such as electricity bills and maintenance. Both of them will make you earn but its up to if you want to somehow take your time and wait then buying btc is for you.

CuriousGeorge

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Quote from: Fasdartin on November 15, 2017, 06:17:46 AM

Quote from: Diunusov86 on November 13, 2017, 11:12:35 AM

Mining now requires a lot of money to be profitable, while it's much easier and faster to buy, besides, the profit comes faster. Therefore, I do not do mining

There are two sides for bitcoin, both buying and mining have their own advantage and disadvantage. Mining is unsuitable for the huge majority of bitcoin users today, but if your going to buy some crypto you must better to understand blockchain technology before you start buying, since there are both profitable.

Just to be clear, buying bitcoin will just make you have the sum of bitcoin equal to the money you spend, but with mining, you can get as much bitcoin as you can if you're actively mining.
maybe buying bitcoin and holding could be profitable, but for long term, mining will be more profitable but if using efficient and powerful rigs.

FIFA worldcup

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Quote from: windsee on November 07, 2017, 10:18:57 AM

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.

Thanks.

Its all depends. You can't buy 1 btc at a time because the price is to much higher and we can't afford 7000$ at once. The mining process also to much expensive. First you need high quality PC with good graphic card the latest version is GTX 1080 which price is 700$ also for quality computers like i7 with good specificity takes a lot of money. Also its hard to mining you need to focus every time on it

cheesyspoils

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I would prefer buying as I wouldn't have to spend money on video cards and electricity.

iram9018

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should buy directly, or if there is a mining that really is not a scam why should be afraid, even though the deposit until so many to get more bitcoin, but now a lot of mining scam, how scam mining or not fame Huh

DySWv

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If mining is profitable now because of the price surge of Bitcoin, then so does buying and selling Bitcoins. Mining Bitcoin needs a lot of research, effort, and time. Why don't you just buy Bitcoins, wait for its price to increase, relax, and then sell all of it if its price is big enough?

pokeronlinestatus

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Quote from: shohelalam on November 08, 2017, 08:33:51 AM

Quote from: windsee on November 07, 2017, 10:18:57 AM

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.

Thanks.

Both are profitable, You can do it. Mining is so expensive right Now reason electricity if you find low Electricity then OK. I think Buying is best right now because if we see bitcoin price last month history. Bitcoin price increase 40% from Last One Month and it will be increase more.

Don't Trust cloud miner in the market. Every cloud miners are not good, safe and secure. Some body could be Scam. So be careful.

If you are living the country where there is no issue about he power consumption then mining is best option otherwise buying is preferable in the underdeveloped regions because mining is electricity consuming process and buying is just to put your money and the revenue will come to you there are mining equipment that is also expensive so go for the buying that will give you more than mining.

btcmayumana

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Quote from: windsee on November 07, 2017, 10:18:57 AM

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.

Thanks.

I prefer using buying method. For now mining bitcoins need high spec GPU and resources.
If you have good resources and team that can setup the rig (not cloud), installment mining and earn bitcoins from it are long profitable.
But if you planning to buy cloud mining, i think many people has been leave this way, this not worth with time and sum hold investment as bitcoins price volatile.

babybit2

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Not a chance would I consider mining these days unless I had a significant investment to put into it or free electricity, it's simply not economic without big backing or an advantage no one else has access to.

Topic: BTC Mining vs Buying - page 22. (Read 4994 times)