Buying BTC vs Mining it - page 2. | Bitcointalksearch.org

dunfida

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Quote from: Osama Maaz on September 23, 2022, 02:17:55 PM

This question is important and tells us about the mindset difference of holder and Miner ,
Holder don't have anything but buy bitcoin at which he thought that it will make profits as holder we need to wait until the price breaks the buy price and then it will be profitable its like you buy a ground and you want to sell at higher price but Miner situation is different he makes profits every moment he dos not care what is the price the mining machines making bitcoins and he sell them for fulfill his daily expenses for example in this case you buy a house and give it on rent , your house is still yours but it makes money for you .

If you do really love to save up yourself on the hassle then its better to buy bitcoin and hold it for long term or the time you are planning out on doing so but if you do love to put yourself on some hassle or challenge then

mining would really not bad to consider but no dumb person would really be mining without having any profits to consider specially if electricity cost is high.You wont really be definitely doing such step

and would sensibly be thinking that its better to buy than to mine which there are lots of things to be considered if ever you do decide to mine.There's soo much thing to be considered on.

Osama Maaz

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This question is important and tells us about the mindset difference of holder and Miner ,
Holder don't have anything but buy bitcoin at which he thought that it will make profits as holder we need to wait until the price breaks the buy price and then it will be profitable its like you buy a ground and you want to sell at higher price but Miner situation is different he makes profits every moment he dos not care what is the price the mining machines making bitcoins and he sell them for fulfill his daily expenses for example in this case you buy a house and give it on rent , your house is still yours but it makes money for you .

BlockChainMentor

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I would like to buy bitcoin without any headache..because I don't afford to setup for mining and will have to spend more than this

RavenTimmy

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Bitcoin mining can prove to be really expensive. You will first have to spend money on buying a system with high configurations and then, get an uninterrupted internet connection. You will also have to make sure that no power cuts happen in your area which can prove expensive for you. Even when you have managed to get all of this, there are not many chances that you will be able to mine bitcoins successfully.

Mr.sprin

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I think for now buying bitcoin because the price of bitcoin is going down again this is a great opportunity for bitcoin investment.
I see this repeating itself like in 2018 if you miss this opportunity you will regret it later.

CryptoWebDirectory

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I agree with what many others have said.. There's so much more to it than just "I'll take $40k and buy a nice miner." You need to think about everything that comes with the miner (good source for keeping it cool...electricity costs..maintenance..etc)..If you aren't very knowledgeable in miners then I would take the $40k and just buy one BTC with it. If you plan to go the mining route then don't just dive in with that kind of money. Do your research and due diligence so you know exactly what you're getting into. Just my 2 cents..

arapgeceleri

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I was looking for the answer to this question when I first entered this market. First of all, I had a passion for mining, and as a result of my long researches, I realized that mining would not be of much use to me, and it would be more logical to buy bitcoin with the money I had. Of course, there are people who see the benefits of mining. but it is an area where it is not possible for everyone to set up very nice systems and make mining that benefits everyone.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: BD Crypto on May 05, 2022, 01:17:10 PM

Obviously buying Bitcoin worth of 40k $ will be the best choice that mining Bitcoin. Because in near future it has a biggest chance to make a new ATH. And mining Bitcoin is also profitable but not like buying and holding it in current market situation.

Mining needs investment from the side of the miner in terms of location, ASICs, electricity, human resource, cooling and maintainance, to name a few. I dont think a bitcoin enthusiast has the willpower nor the moneypower to start this on a large scale in a few days time. But buying bitcoin takes only a few second. Most large scale miners are doing this full time, which I dont expect an enthusiast to be able to do and doing small-scale mining is not worth the time, the ROI will come with prolonged period and the person behind this will sink into debt by then.

Overall, buying bitcoin at low prices is always encouraged today. After the hashpower-wars became too intense for indie players to nudge in, mining has been something that the big corporations have kept in control.

BD Crypto

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Obviously buying Bitcoin worth of 40k $ will be the best choice that mining Bitcoin. Because in near future it has a biggest chance to make a new ATH. And mining Bitcoin is also profitable but not like buying and holding it in current market situation.

jaberwock

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Quote from: virasog on May 02, 2022, 10:24:27 PM

Buying BTC is a better option in m opinion since it is not easy to mine bitcoins now. The money which you will spend on buying hardware and then the insane electricity cost, that money can be used to buy bitcoin instead and keep it in the hardware wallet for the long term.

Mining is only feasible if you are living in a region where the electricity cost is very low , then you might consider to spend money on hardware t mine bitcoins.

Electricity cost depends on where you live of course, but the general increase happened all over the world so even in the cheapest palcesits not really that cheap. I always suggest that people should do solar panels or something like that in order to make some profit, they could make a good return on that via bitcoin mining if they use it as such, cheaper electricity combined with cheaper bitcoin costs, that would allow you to make a good money.

However, all of this requires you to be informed and experienced in such stuff, otherwise you will keep paying others to fix anything that goes wrong and the cost of repair will be too high to make it a sustainable business.

doomloop

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Quote from: Nrcewker on May 02, 2022, 10:34:45 AM

Both has their own benefits .
I will go for buying the Bitcoins, as mining requires maintenance.
The electricity bill, need proper space and also clean when necessary.
Moreover Bitcoins are also illegal in my country.
So it would be better and safe investment if you buy Bitcoins instead of a mining set.
Hope this helps you OP to understand the situation better.

Me too, I would go with buying the Bitcoins. But in the case of mining, if you’re going to be covering the cost of electricity and maintenance, then the others are not really that much of a challenge, is it?

Except in a situation where it is illegal in your country, in that case you should totally avoid mining, and just stick with only buying and holding. At least you are going to make your profit when the market grows. But what I like about mining is the steady profit that you’re always going to be generating from it.

virasog

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Quote from: TribalBob on April 23, 2022, 10:27:49 AM

with 40k at the beginning it's better to buy bitcoin directly, and save it if you want to add just calculate the maintenance costs for mining equipment and allocate it to BTC, especially now the cost of electricity is very expensive, oh,,,,,,,, it's better for me to buy btc than mining,

Buying BTC is a better option in m opinion since it is not easy to mine bitcoins now. The money which you will spend on buying hardware and then the insane electricity cost, that money can be used to buy bitcoin instead and keep it in the hardware wallet for the long term.

Mining is only feasible if you are living in a region where the electricity cost is very low , then you might consider to spend money on hardware t mine bitcoins.

TheGhostMan

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From my point of view, there are two ways of looking at this dilemma.
On the one hand, there is mining Bitcoin, which is clearly not an easy task, since special computers are only needed to do it, and of course the use of specific ASICs that optimize the mining of said blocks and this without mentioning the costs of said computers, expenses of electricity consumption and more… and on the other hand the purchase of this one that on the contrary (I am not saying that it is easier) is more accessible since apart from the application of knowledge only a pc, internet and the desire to invest are enough, and more so at a time when BTC is currently in a bearish state, where investors see this as an opportunity to invest thanks to the volatility of this cryptocurrency, and when it rises This would have already taken advantage of this "offer" and it would increase profits significantly depending on the increase it obtained, so for my part I would prefer the purchase since it is the one that best suits my co-existence.

Murtaza345

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I will not suggest you to mine bitcoin because its not really easy and every one can not mine bitcoin because mining process is so hard to understand,and yes you can buy easy bitcoin and everywhere,and you can chose any method to buy and save your bitcoin funds.you were thinking you can earn more bitcoin rather than invest and buy ,so also mining is so castly you need so many tools to mine and same fund you can invest and earn same bitcoin like mining.

RealMalatesta

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Quote from: mr_ROBOTT on May 02, 2022, 02:52:09 AM

First of all, you need to know that bitcoin mining is not easy.
You can not just buy a miner and plug it in and Boom, your bitcoin is ready.
You must have all the necessary equipment and knowledge to extract bitcoins.
Finally, I recommend buying bitcoins.

It is definitely not an easy task, not just bitcoin mining but no mining of any type is not easy. I believe that we should be focusing a bit more on what we know and how we can approach instead of risking it all for things that we have no idea. For example, if you are a person who has never fixed any computer before, then do not start mining or make sure that you have a trusted miner friend who could help you, because these machines keep having small problems all the time and if you can't fix it yourself then what are you going to do?

Pay premium price for getting it fixed and that is not acceptable nor profitable. So, it is really difficult if you have no idea how they work, you need to be on top of the game to make sure you could squeeze that last bit of ounce of profit from these machines.

Nrcewker

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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.

Both has their own benefits .
I will go for buying the Bitcoins, as mining requires maintenance.
The electricity bill, need proper space and also clean when necessary.
Moreover Bitcoins are also illegal in my country.
So it would be better and safe investment if you buy Bitcoins instead of a mining set.
Hope this helps you OP to understand the situation better.

CryptocurencyKing

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When it comes to mining against actively buying bitcoin, I guess we would just consider certain factors that is associated with either of the positions.

For Mining
- You have the task of buying highly suffisticated devices for the purpose
- A space to establish your mining farm
- Generated heat pollution to keep in check and cooling of the devices
- Electricity consumption to look out for
- Task to pay to the government
- The risk of having your farm shutdown should it constitute any menace to your local community.

For Buying
- I guess nothing rather than just your funds to exchange for bitcoin.

Considering that, I'll rather buy and hodl. It's simpler mitigates all the above risk while, I stay anonymous.

Jody.Drummer

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This may indeed depend on some people's thinking but for me it's more worth it to buy bitcoin and hold it than mining and having to bother every day.
Indeed, there may be those who disagree but I don't really like the complicated and prefer the simple, buying bitcoin is the simplest thing I do because the concept is to buy when it's cheap and sell when the price is right we want

Ebede

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Quote from: shushu9977 on May 02, 2022, 04:06:09 AM

As my prediction, If you buy a bitcoin now, then after few years you will get twice profit. So, investing in btc will be good option. I am also investing in crypto-currencies for making more money. So, buy btc and keep waiting as you can.

I will agree with you because bitcoin rotation comes like air and bitcoin is something if you invest with big or small capital you make profit if you Free it to stay some why. People saying bitcoin has make people rich is when they buy bitcoins and leave to say long time and by then the price of bitcoin increase multiple times ahead of the what you bought

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Quote from: LUCKMCFLY on May 01, 2022, 10:10:16 PM

Quote from: bitcrystal on April 21, 2022, 06:12:30 PM

only few people will go with mining, i would prefer to just buy and hodl to avoid stress and many things required which if care is not taken you wont make too many meaningful profits. this is why i go with buying.

The exercise of mining is something that can be counterproductive, because everyone wants to mine BTC and it is logical, the only thing is that mining BTC is very difficult, most people choose to mine ETH, Monero for its simplicity and for not compete against the big BTC miners, however there are many ways to mine using few resources or sometimes even the same laptop because there are ways to do it.

If we focus on mining altcoins and buying BTC later, for me it is a winning formula, because you can mine altcoins and then buy BTC, it would be very smart.

Well said, most of the miners go for altcoins mining and then buy bitcoin with it. This will increase the profitability and also the difficulty is quite low compared to bitcoin which requires more hash. Even with altcoins the difficulty keeps increasing which requires addition of GPU to keep the mining profit stable. Apart from this it is good to invest on low price altcoins for specific time period. Once good profit is being booked, invest the profit on mining setup for regular earning.

Topic: Buying BTC vs Mining it - page 2. (Read 1832 times)