I am not an expert on understanding how GPU's work or even want to learn that because it is way too technical, nor would be interested in high tech ASIC bitcoin miners neither. I only use a laptop for every day usage, it is a very old one and it keeps having problems and I have heart attack like panic attacks whenever it crashes.
Since, it is an old one, it does have crashes like once a month and I should get a new one but I really do not want to spend that much money on a new computer when this is still working, I will wait until this one is completely dead. Imagine me using some ASIC miner, I am barely using the current laptop I own, and not even caring about it well, I would destroy an ASIC farm, so there is no need for me to risk my money that way. Buying bitcoin is FAR better option.
Topic: Buying BTC vs Mining it - page 6. (Read 1855 times)
I have never mined BTC and I think buying and holding BTC would be more appropriate for individuals. Just have a little money, you patiently wait for the market to drop, you can buy BTC and hold it for a long time, you will definitely make profit.
Buying and holding BTC does not require you to have as much money as mining. Example 40k you can buy 30k BTC and 10k you can buy ETH to get more new experience of the market.
On the contrary, mining will be more suitable for organizations and businesses because it requires a lot of costs and human resources to exploit.
Buying and holding BTC does not require you to have as much money as mining. Example 40k you can buy 30k BTC and 10k you can buy ETH to get more new experience of the market.
On the contrary, mining will be more suitable for organizations and businesses because it requires a lot of costs and human resources to exploit.
How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?
So far, buying and holding BItcoin work more for me and this is worthy enough. I never tried mining because I should consider more things than only buying such as the power to mine, place, equipment, and other elements in which they are not cheap and must be continuously. Consider about yourself condition whether it is available and worthy or not for mining, if not really, you can prefer to buying only and making them as Bitcoin.
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.
Actually, you don't need to buy 1BTC at once and all in. If you have such big money in that amount, you can make some diversity or some steps of buying Bitcoin several times. You may use DCA or other strategies in roder to get the ebst price. However once more, DYOR when youa're going to buy the Bitcoin, when and how much. Ensure that you also use free money, dude. 
Buying bitcoin and holding it is a very simple way to deal in the Bitcoin market that is you don't need any skill to do that all one need is just to have a wallet buy and store them there, but mining is a lot more technical and to have an operational mining farm one need to build a lot of things and go through several processes involved, so comparing bitcoin mining to holding is difficult as their both do not belong to the same category.
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.
You should go for buying Bitcoin because price of Bitcoin isn't so high at this time. It's a great opportunity to buy Bitcoin with lower price. Mining Bitcoin is costly because you have to pay for electric bill and components for mining. Better, buy Bitcoin and wait for some years to get good money.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.
to be mind off then you could simply buy a whole bitcoin which you do need to add up a little bit since 43k price as of this writing but if you do like to hassle things up then choose on buying a miner
but you should be considerate on other factors which like on electricity cost and others.
Things Investors Should Know About
Equipment Used for Mining. In the earlier days, CPUs were used for mining all types of cryptocurrencies. ...
Cost of Energy. Miners have to run their equipment almost 24/7. ...
The Market Rate of the Currency. ...
Global Market Condition. ...
The Mining Pool.
Source
If you are not that tech savvy or knowledgeable then better skip out on doing mining.
Mining, trading, investing and other profitable ventures can be carried out at the same time. It takes a lot of capital to buy mining equipment where the higher the specifications, the more expensive the price. While you only need to buy bitcoins and hold them long term for a good profit target, it will not stop you from dealing with mining tools.
Investment is the best option for people who don't want to be in the market watching charts and profit opportunities more than 10 hours a day. Just choose the best assets for you to invest in and make sure you keep them in a secure wallet that only you can control.
Investment is the best option for people who don't want to be in the market watching charts and profit opportunities more than 10 hours a day. Just choose the best assets for you to invest in and make sure you keep them in a secure wallet that only you can control.
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.
You should go for buying Bitcoin because price of Bitcoin isn't so high at this time. It's a great opportunity to buy Bitcoin with lower price. Mining Bitcoin is costly because you have to pay for electric bill and components for mining. Better, buy Bitcoin and wait for some years to get good money.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.
to be mind off then you could simply buy a whole bitcoin which you do need to add up a little bit since 43k price as of this writing but if you do like to hassle things up then choose on buying a miner
but you should be considerate on other factors which like on electricity cost and others.
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.
You should go for buying Bitcoin because price of Bitcoin isn't so high at this time. It's a great opportunity to buy Bitcoin with lower price. Mining Bitcoin is costly because you have to pay for electric bill and components for mining. Better, buy Bitcoin and wait for some years to get good money. 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.
You can do both, one is not necessarily better than the other.
In the end it's a matter of personal choice.
The profitable mining setup needs ROI and to get that return you need a location, electricity, maintenance, ASICs ordered, set up and cooling. While buying bitcoin will need a secure wallet, an exchange account that supports you local currency, +/- KYC and spending your money to get bitcoin, all can be done on your personal device in a few minutes, without the need of running about.In the end it's a matter of personal choice.
Some people are passionate about mining and they may already have a plot and low electricity costs, low temp round the year situation. So for them mining is a good option while keeping in mind how competitive the field is. Someone who does not have such conditions and is passionate about mining would never be able to think of the same, unless they want to add the bills to their spending.
It is not just a personal choice, but a matter of several factors.
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.
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.
Bitcoin mining is not feasible, i will prefer to buy one bitcoin instead of buying an Antminer L7 and not owning a single bitcoin.
Moreover, mining requires some technical skills and you need to spend electricity also on mining. If you are living in a country where electricity is expensive, you won't be able to earn any profit from mining. Buying bitcoin is however safe and more easy way to hold bitcoin.
I would buy Bitcoin, because if the price goes up, you will instantly get profit. But if you invest in hardware, first you will have to wait months before you convert your investment will bring you first profit. By the time it happens, your investment in Bitcoin can give superior income.
Looking at the current rate and how difficult it is nowadays in mining Bitcoin. Looking at the power consumption and how expensive it is to get hardwares and all necessary components needed in mining, going into mining will cause a lots of money so it's better to buy Bitcoin rather than looking at buying mining tools or machines which requires lots of efforts and money. But for most people mining requires too much engagement on their part, so it is better to just buy bitcoin, secure it properly and forget about it.
You can do both, one is not necessarily better than the other.
Mining Bitcoin is of course a more active way of getting Bitcoin, you'll have to pay for electricity, make sure the miner is running smoothly, troubleshoot any problem, etc. Each Bitcoin you mine might end up costing you roughly the same as just buying it(or more, or less). Just buying Bitcoin is a more passive way to obtain Bitcoin.
In the end it's a matter of personal choice.
Mining Bitcoin is of course a more active way of getting Bitcoin, you'll have to pay for electricity, make sure the miner is running smoothly, troubleshoot any problem, etc. Each Bitcoin you mine might end up costing you roughly the same as just buying it(or more, or less). Just buying Bitcoin is a more passive way to obtain Bitcoin.
In the end it's a matter of personal choice.
Mining is also an idea but it requires more work than buying and holding them. In addition to energy costs, wear and tear of components, space, you need a lot of time to take care of them and technical knowledge for miners. Not to mention the mining will be interrupted at any time if you are living in a country where bitcoin is not yet legalized you will have trouble with your machines.
With $40k, I think You can buy bitcoin and wait for the price to rise. Bitcoin price is low relative to old ATH so buying now at low price is an opportunity to grow the asset quickly.
The idea of mining is to generate bitcoins continuously without needing to buy them anymore but like you said the only problem is the cost of miners and the cost of mining itself. We need to determine these factors first if mining is suitable for our needs or not but if not we can always buy a bitcoin.With $40k, I think You can buy bitcoin and wait for the price to rise. Bitcoin price is low relative to old ATH so buying now at low price is an opportunity to grow the asset quickly.
Bitcoin mining can be interrupted in case a problem of electricity occurs or in case the weather is not fine, if your source of electricity is natural or renewable. There are countries where mining is banned but there's also countries that banned both mining and the use of bitcoin. There's no escape for you even if you say your only buying btc and not mining it.
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 think buying is a safer, simpler and lazier option, which can also bring some long-term profit and easily make $40k into $100k over a couple of years. As for mining, it means not only initial investment which you that need to cover by profits (when you buy Bitcoin, you can always pull your money out, and you'll get more out of it than out of selling mining equipment, probably). You also need to cover the electricity bills, which can be huge. Not to mention maintenance, so that your equipment doesn't break. And, possibly, taxes for doing business, maybe some permits to do that etc. So I'd go with buying Bitcoin.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.
And even if you have that knowledge it means nothing under the current circumstances, after all the price of energy all over the world is going up due to the sanctions imposed at Russia, so it is better to take the safest option which is to just buy bitcoin, secure it properly and hold it for as long as you can.
buying and mining is only a slight difference, you have to spend capital to mine BTC and have to wait to be able to take your mining results, of course if your mining goes well it will make a profit. if you have to buy also have a risk, you must be able to analyze the market. yes in general prefer to buy than do mining.
Mining is also an idea but it requires more work than buying and holding them. In addition to energy costs, wear and tear of components, space, you need a lot of time to take care of them and technical knowledge for miners. Not to mention the mining will be interrupted at any time if you are living in a country where bitcoin is not yet legalized you will have trouble with your machines.
With $40k, I think You can buy bitcoin and wait for the price to rise. Bitcoin price is low relative to old ATH so buying now at low price is an opportunity to grow the asset quickly.
With $40k, I think You can buy bitcoin and wait for the price to rise. Bitcoin price is low relative to old ATH so buying now at low price is an opportunity to grow the asset quickly.
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.
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.
It all depends on where you live. First, if you are extremely wealthy, have your own solar farm, or your electricity is free in your country, and the weather is cold, I would recommend mining. However, this scenario is nearly impossible because most of us pay large electric bills, so the best option is to buy bitcoin rather than mine it. in your own country Most of those miners live in cold countries and use renewable energy, or their electricity is inexpensive in their area.
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.
then how long can you earn 1 bitcoin from that Mining rigs? than just buying the whole bitcoin and wait for the increase?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.
at least will doubled the value ? try never to put more expectation and just keep holding mate that is what we need to gather now.
Profitability of Mining and buying Bitcoin depends on the location of the user and the technical knowledge the user have got. For the first time the user finds it difficult to set the mining rig and run it, then onwards he/she will get used to it.
Buying
It is very user-friendly to buy with the existence of more trusted platforms providing easy access.
Need a wallet with good security features to keep the bitcoins safe.
Depending on the market situation it is possible to buy at a better price than what is being got out of mining.
Mining
It gives regular earning unlike the market condition.
Requires uninterrupted power supply and internet connectivity.
Regular maintenance is a must. If a card gets damaged, it can eat the profit.
Buying
It is very user-friendly to buy with the existence of more trusted platforms providing easy access.
Need a wallet with good security features to keep the bitcoins safe.
Depending on the market situation it is possible to buy at a better price than what is being got out of mining.
Mining
It gives regular earning unlike the market condition.
Requires uninterrupted power supply and internet connectivity.
Regular maintenance is a must. If a card gets damaged, it can eat the profit.
It pays off to buy asic miner for mining bitcoin only if you have free electricity or if you buy with discount price for large mining farm.
Back in the days you could mine BTC even with regular computer (theymos did that with his Intel Pentium processor) but now that is impossible.
I think buying bitcoin when some dip happens is much better option today instead of investing same money to buy miners with all other expences.
Dollar cost averaging may be the safest option for buying, maybe every week or every time you receive paychek.
Looking at the current rate and how difficult it is nowadays in mining Bitcoin. Looking at the power consumption and how expensive it is to get hardwares and all necessary components needed in mining, going into mining will cause a lots of money so it's better to buy Bitcoin rather than looking at buying mining which requires a lots of effortsBack in the days you could mine BTC even with regular computer (theymos did that with his Intel Pentium processor) but now that is impossible.
I think buying bitcoin when some dip happens is much better option today instead of investing same money to buy miners with all other expences.
Dollar cost averaging may be the safest option for buying, maybe every week or every time you receive paychek.
There are still big companies mining bitcoin so I guess its still profitable for them since they still doing it even by now but you need a lot of funds since you need a strong hardware to see a better result since if you buy cheap miners then provably you will end up nothing or get discourage with the result. That's why if you only have limited budget then buying will be the best option since its still profitable if the buyer knows the risk and know how to trade it.
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