Buying BTC vs Mining it - page 10. | Bitcointalksearch.org

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: BenjaminGlover on March 07, 2022, 07:17:52 AM

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

I thought about it some time ago but I saw that it is easier and with less headaches to simply buy. If you add to that the rising energy prices, in an exaggerated way lately, you will get the answer.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

This question is probably as old as Bitcoin itself. IMO buy bitcoin, not mining gear.
Cons of mining:
You need cheap power
You need to put in work to set it all up, wire it properly, keep the miner running 24/7
You need a place where noise won't be an issue. Miners are quite noisy.
You need a safe place, where nobody will steal the hardware or tamper with it, which means no access for kids, thieves and animals.
Mining gear can break and nobody will give you warranty.
You need to wait for shipment. If you choose a new miner, it can even be months.

Not worth it unless you are have your own power plant, or know someone who can provide you with free power.

BenjaminGlover

newbie

Activity: 22

Merit: 4

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

Topic: Buying BTC vs Mining it - page 10. (Read 1855 times)