Topic: Buying BTC vs Mining it (Read 1832 times)

What matters are the time, energy and prospect/plan of the person? Some might want to mine for the money, but mining is not like before, which discourages many people. Miners of many years ago earned more in BTC, but it is not really worth the time and the energy it consumes these days.

Having said that, in my case, I prefer buying Bitcoin to mining. Yet, I will not just buy it, I will buy it at the right time after carefully speculating its bullishness. If one could sell when it is bearish and always buy when it is bullish, many profits would be earned more than the miners.

Mining is better if your country is electricity friendly meaning the cost of mining would be so much low and you can still profit. I tried mining back in the years but since our electricity is much expensive than others? i stopped the  operation and just focus in Buying bitcoin and some altcoins that I think will help me out.

Buying is more suitable than mining if you have the necessary funds. Because if the price of Bitcoin falls further, then mining has has to face  more losses. On the other hand, money spent on various equipment can also be another cause of loss. Considering the current time I think buying is better than mining.

I think more profitable with buying bitcoin although with small fund and keep holding in wallet without need to pay electricity than used small fund to buy mining tools, actually small fund just get low budget for buying mining tools except need to pay monthly electricity. But and invested with bitcoin although small fund we don't worry about payment bill electricity every month, I think need bigger fund support for mining depending several items with mining tools have expensive price. Investing in bitcoin we can sell anytime we want if bitcoin reaching higher price and seems faster to get back our capital than used to buy mining tools.

at 20k? you would buy Bitcoin than mining this? or because you only have small funds and just buying small part for at least having bitcoin in your wallet?


I support yours because mining nowadays is indeed having a little chance of earning than buying the coin and keeping it on your wallets.

but you can have a whole bitcoin because of high price, maybe a chunk is enough to earn and gather?

For now in current week i think so the Buying of BTC is better then the Mining of BTC as In mining all depends upon the hash of block. As BTC is below its realized price so that the time to grab as much as you can. For the mining point of vie i think everyone should take a look on this graph the current hash power is 222 M almost 13M low from the ATH.

well I have completely explain both sides, yeah buying coins is much easier but if we will look in the long term? it is indeed both are practically better for investors.

and besides it is depend in the availability and our location , there are places where electricity is really cheaper that we can earn or profit than Buying bitcoin.

But like what I said ? it will be depending in that said person if what she wanted to do with her money in crypto .

I never mined before and the very first time I tried mining with a particular platform I got scammed and since then I never find myself mined Bitcoin again. I think I prefer buying my Bitcoin to mining Bitcoin because of some of the difficult one could face with mining Bitcoin in terms of Electricity,  as in my country side we do not have constant Electricity here in Nigeria , plus the money it will me cost setting up my mining equipment. Therefore to save cost, I just buy Bitcoin.

I bought 1 Bitcoin at the price of $20k It remains one of my greatest assets . But if I didn't buy bitcoins with this $20k I would build a powerful pc for mining bitcoins. I think that would have caused me a lot of problems with electricity , high temperature , government restriction issues etc. But I'm in a much more relaxed mode now for buying bitcoins.

But investing is much easier than mining, with an investment you just buy and hold for a long time and don't need to spend any extra cost to maintain the holding. But in contrast to mining, you pay a lot of things everyday, it's a lot more expensive than holding and it will be more difficult if you just mine without selling them, maintenance costs, electricity costs, daily operating costs...There is a lot to take care of so mining is really a business and not just an investment.

Mining bitcoin requires enormous funds, from buying mining rigs and electricity costs. But if buying bitcoins is very cheap, we only need to buy small amounts such as from $5 to $20 per week then it feels very easy. And when we return to the bull market, we can sell it at a high price.

It depends how much money you have and how many bitcoins you want to acquire. For mining bitcoins you need a whole setup that will cost a lot of money to start the operation with. GPU prices have been falling throughout the year and will be close to their original purchase price 1-2 years ago. In my opinion the computer hardware market is still a mess and I wouldn't be buying new equipment right now. With the new Nvidia cards coming out soon and also AMD is going to reveal it's new cards in November there is a lot of new technology coming to the market soon. If you really want to consider buying a mining setup I would look for a cheap used rig, but even the secondary prices are expected to fall once new GPUs are on the market. Then again it also depends on how many bitcoins you are looking for. If it's only a short term project to acquire a few Bitcoins it might be easier to just buy them at an exchange and store them rather than to mine them. But if you are trying to setup a whole operation to stay in the mining business long time don't buy Bitcoins. Another thing is that while purchase cost for rigs are falling with the crypto prices, the running costs are rising with inflation sharply this year. Make sure you have a cheap source of electricity for your rigs. 

but keep in mind that a lot of beginners buy bitcoin just because they want to make a quick profit and don't think about how long it will take to wait for the bitcoin price to reach its highest price.
maybe if the beginner has learned a lot about bitcoin, they will definitely prefer to buy and collect until they have 1 BTC and can be used as an asset for the future when bitcoin reaches the highest ATH after last year.
it is very difficult to give understanding to beginners to learn first before buying or investing in bitcoin when they already assume and think that bitcoin will provide big and faster profits.

I think you have just only made this difficult to understand , Mining is a investment also because you can keep holding the mined coins? so there is no need to rush selling them then this is a Business at the same time investment?
and also bitcoin can be a business because we can buy now and sell it just after the dump? that is considered as business.
so it is  business and at the same time investments?

I prefer to buy bitcoin, because buying bitcoin can be paid in installments little by little, it is very helpful for beginners who want to start investing in bitcoin, because most beginners want to invest but have little capital, whereas if mining bitcoin requires a good computer device and the price is very expensive, beginners do not allow it to buy it, so I personally prefer to buy bitcoin than mining.

Buying bitcoin is an investment while mining it is a business. Buying bitcoin in parts and making trades professionally is more profitable than mining bitcoin as the electricity cost is increasing daily. So for home users, mining is not advised.

I will also prefers buying bitcoin to mining it, I knew that for a long term perspective buying and hodling it will be profitable, whereas maintenance of the mining equipment plus payment of the electricity bills might incur some expenses for me and with thousands of miners makes mining more competitive to earn some reasonable amount of money in a long run, however if the price of bitcoin pump and soars be a lot of Profits can be made by buying and hodling it, now that the market is in bearish run a big opportunity to buy and accumulate using DCA .

also, consider if you have the patience to learn mining crypto. because if you haven't done this in your life yet, it would require time to study some fundamentals and you don't know if you're up to it. much easier if you will just buy some satoshis. though it is fine also if you venture mining, because you can also mine other alts aside from btc. but as i said, you need to gauge yourself if you can bear the tasks involved in mining.

Buy now or later depending on your strategy. But I can advise you to buy and do DCA instead of expecting a bigger drop. DCA is the best advice for anyone looking to buy during this bear market, but if you like lump sum then that's fine too.

Mining vs Investment, it's just a choice that depends on each of us. I love investing, but that doesn't mean mining isn't profitable. But I have to consider the cost for mining equipment, it's definitely not cheap now considering the inflation has forced some producers to increase the selling price of their products.

If you see the conditions in crypto are dropping, of course buying Bitcoin is better than mining. One Bitcoin means a lot for now. We must be able to take advantage of this opportunity. Mining is also the best alternative for adding Bitcoin balance, because we have to wait a long time to get to the bull market. But we will have to be patient for some time, as the crypto market continues to dump. So that we get the right price with lower value.