The only difference between holding and mining is that it has a machine to mine but they are both holding coins all mines will be directly sent to your own wallet.
It depends on you if you want to hold your coins or sell them or sell the portion of your mine coins every month to cover your Electricity bill.
The only risk on mining is actually if you bought a defective miner and 2nd hand miner with locked pool settings. Mining is easy to manage it shouldn't be risky but still, you will still need to have a bit of electrical and technical knowledge so that you can manage them well.
Holding would be also risky if you don't know how to protect your machine from any hack and virus. The same goes for mining you need to protect your miner and wallet from any possible attacks.
Topic: Confused between mining and holding - page 2. (Read 455 times)
while HODL is easier (and riskier too).
I find it hard to agree with this point, HODL is a lot less risky, you just need a proper hardware wallet to "store" the coin, your risks are limited, predictable, and avoidable, with mining, however, I can name tens of risks associated, many of which are not controllable by any means, people have no clue how hard is it to maintain a mining farm, but worrying about theft, fire, damaged PSUs, dead fans, heatsinks falling and all that is a lot of headaches and a lot of risk to be taken.
You are right; I've missed quite some of the risks of mining. But I was referring though to financial risks. At least that was my main point/idea.
Imho if all is calculated good and electricity price is small, the miner will be earning some money; sometimes more, sometimes less. On the other hand, at HODL, with the huge price fluctuations, with FUD, one can easily get to buy high and sell low.
But I've corrected: both are risky in a way or another.
while HODL is easier (and riskier too).
I find it hard to agree with this point, HODL is a lot less risky, you just need a proper hardware wallet to "store" the coin, your risks are limited, predictable, and avoidable, with mining, however, I can name tens of risks associated, many of which are not controllable by any means, people have no clue how hard is it to maintain a mining farm, but worrying about theft, fire, damaged PSUs, dead fans, heatsinks falling and all that is a lot of headaches and a lot of risk to be taken.
Currently im weighing in the pros and cons of mining a coin vs just holding the same worth of coin and reaping benifits lets say 5 years later.
current miners with miners in the era of 2009 to 2017, much different, miners used to get a little more, not the same as now, with super-sophisticated technology nowadays, many people are mining, so now it's much different from the past.With that for miners who used to prefer to quit and sell all their devices and switch to coins they think are worth buying, with the new system they are doing now is more productive than having to waste energy to do mining, even though the coins purchased have to wait for years.
I will say buy and hold. Because mining requires energy you have to spent money every now and then if any of the parts is damaged and also its needs space and its cost a lot of electricity. If you see holding is more better and profitable than mining.
Buy and HODL or Dive into the world of mining with colocation
Mining is one business, investing is a different business. You can HODL without mining, you can mine and sell directly or mine and HODL...
While mining (and selling instantly) has a more or less quantifiable ROI (based on difficulty and electricity price), with buy and HODL nobody can tell how much you'll earn.
Mining comes with headaches - hardware that works, fails, needs maintenance, maybe personnel too, internet connection, maybe cooling too - while HODL is easier (
All in all it's hard to compare and pinpoint like "this is the right choice". No. And well, it's you who has to decide.
The miners will be able to help you with the math if needed. But at the end of the day, it's your decision.
I find buy-and-HODL a much easier option with much more potential on long term, but Bitcoin price also falls badly now and then and you need a certain mindset to not panic-sell then.
Hello there
A Lil intro about me
I am based in dubai been in the crypto space since 2017 invested in a few shitcoins (bitgold,mlm schemes )(im looking at you bitclub) as well as a few long term based projects.
However none of my previous ventures have beared fruit as i anticipated
Currently im weighing in the pros and cons of mining a coin vs just holding the same worth of coin and reaping benifits lets say 5 years later
From what im reading on this forum the variabilities in mining are way too many compared to just buying the coin and holding it in a cold storage wallet
Ps:If mining id be looking at colocation (usa,kazhakstan,canada) was looking at a few options from compass mining (dont know how legit they are though since ive heard about them only through voskcoin)
What are your thoughts ?
Buy and HODL or Dive into the world of mining with colocation
A Lil intro about me
I am based in dubai been in the crypto space since 2017 invested in a few shitcoins (bitgold,mlm schemes )(im looking at you bitclub) as well as a few long term based projects.
However none of my previous ventures have beared fruit as i anticipated
Currently im weighing in the pros and cons of mining a coin vs just holding the same worth of coin and reaping benifits lets say 5 years later
From what im reading on this forum the variabilities in mining are way too many compared to just buying the coin and holding it in a cold storage wallet
Ps:If mining id be looking at colocation (usa,kazhakstan,canada) was looking at a few options from compass mining (dont know how legit they are though since ive heard about them only through voskcoin)
What are your thoughts ?
Buy and HODL or Dive into the world of mining with colocation
Okay this is not the right section, but I will give you some advice.
First this is most likely going to be moved to economics section under speculation. As it goes beyond mining.
Second this involves a host which would be in service section.
Third and most important it wants to compare mining with a host to hodling. Which is kind of a speculation and investment question.
If I were you I would create a DCA buy and hodl plan with a good exchange.
ie. 100 USD a week in btc at coinbase is 5200 usd a year.
do it for 4 years it is 20800 put in. then hodl it with a few sells set at 2x and 4x what it cost you.
I picked 100 a week assuming you can afford that.
Most people get crushed due to going all in when they buy to hold. Don't do that. do DCA that is Dollar Cost Average. DCA will never be perfect but it will not be the worst move.
Think what just happened early this year coins were 64 k. go all in and now the coins are 37k = ugg. DCA and you are better off.
We have never had a straight up 4 year price rise . That case would mean you make less money with DCA than buying all in on day 1.
These are all guesses based on the past. I am not advising you financially.
Hello there
A Lil intro about me
I am based in dubai been in the crypto space since 2017 invested in a few shitcoins (bitgold,mlm schemes )(im looking at you bitclub) as well as a few long term based projects.
However none of my previous ventures have beared fruit as i anticipated
Currently im weighing in the pros and cons of mining a coin vs just holding the same worth of coin and reaping benifits lets say 5 years later
From what im reading on this forum the variabilities in mining are way too many compared to just buying the coin and holding it in a cold storage wallet
Ps:If mining id be looking at colocation (usa,kazhakstan,canada) was looking at a few options from compass mining (dont know how legit they are though since ive heard about them only through voskcoin)
What are your thoughts ?
Buy and HODL or Dive into the world of mining with colocation
A Lil intro about me
I am based in dubai been in the crypto space since 2017 invested in a few shitcoins (bitgold,mlm schemes )(im looking at you bitclub) as well as a few long term based projects.
However none of my previous ventures have beared fruit as i anticipated
Currently im weighing in the pros and cons of mining a coin vs just holding the same worth of coin and reaping benifits lets say 5 years later
From what im reading on this forum the variabilities in mining are way too many compared to just buying the coin and holding it in a cold storage wallet
Ps:If mining id be looking at colocation (usa,kazhakstan,canada) was looking at a few options from compass mining (dont know how legit they are though since ive heard about them only through voskcoin)
What are your thoughts ?
Buy and HODL or Dive into the world of mining with colocation
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