Deciding Between Mining and Direct Investment - page 2.

Abu-Naim

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Quote from: xxDmitriy on August 05, 2023, 12:43:08 AM

If I buy 10 units of S19 XP, each with a daily production value of $9.8 and a daily electricity cost of $1.44, considering my electricity cost is $0.02 per kWh, my net income per unit would be $8.33 source: (https://www.f2pool.com/miner?id=155037).
Currently, its price is $3145 source: (https://www.asicfinder.com/frontend/hardwares/bitmain-antminer-s19-xp-141t).
Now, BTC is priced at $29,048, which is quite low, and we are all waiting for the bull market to come.
Honestly, I'm not a fan of numbers and calculations, but I'm determined to make the right choice. Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

You can never get the right estimate of setting out the mining plant because you may likely omit some costs which cannot be account for.

I don't know much about bitcoin halving but if I am right, it is a time where miners reward will be divided by halve which maybe is the reason why the price of Bitcoin is going high during halving so that miners can keep their work and maintain the little bitcoin, they mine.

If this is right, then it will be better if you invested these money in Bitcoin and wait for your profit instead of going through the mining stress.

BD Crypto

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Both are beneficial between mining and one time investment. But if you want to invest your money potentially then I will suggest you to invest in Bitcoin as we are now in a Bear Market. So probably very soon we will see a huge pump or a bullish season. So in my opinion if your money is ready to invest then just buy Bitcoin and store it to a safest wallet which may be Hardware wallet or an open source non custodial wallet. Then when you make profits then do your mining setup. It's all about my opinion and you have to choose the most potential way to grow by doing own research. I just shared my observation or opinion.

As your destination is to make profits that's why I want to add another option which is Trading. If you have passion on mining or can effort on it then go for mining and as already calculation have been posted so I don't need to add more. Another way is to invest half of your investment in Bitcoin for long term and you can do some short term trades with another half if you are good in it or well experienced. Obviously you must have a good knowledge in technical and fundamental analysis.

michellee

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I've been away from the mining world for a long time so I don't follow it. But I know that what is calculated often does not correspond to reality. Maybe all the calculations you do give an idea of the expenses and income that you might get. But you should know that this is just a calculation and we don't know the actual conditions.

As long as we are mining Bitcoin, electricity costs will never increase. Will the rewards we get always be like that and there won't be any changes? Many possibilities can happen after you start mining Bitcoin. You also have to calculate maintenance costs for mining tools and others, which you don't know how much.

So my advice is that instead of buying those mining tools which cost a lot of money, you better use that money to buy Bitcoins on exchanges and hold them. That's to avoid everything you don't know while mining Bitcoin, including costs that can arise later. If you directly buy Bitcoins with that money, you can have many Bitcoins or you can use DCA to buy Bitcoins. But this is just a suggestion and all the decisions depend on you.

Rikafip

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Quote from: xxDmitriy on August 05, 2023, 12:43:08 AM

Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

I say keep it simple as just invest in bitcoin directly instead of going for mining. Thing is, mining is not just you plugging in asics and collecting satoshies but instead it is a constant responisbility, especially at the start when you are still figuring things out.

Add on that the fact that equipment can die, price of electricity can go up or there might some other unforeseen circumstances which makes buying bitcoin even more logical.

Learn Bitcoin

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Quote from: xxDmitriy on August 05, 2023, 12:43:08 AM

If I buy 10 units of S19 XP, each with a daily production value of $9.8 and a daily electricity cost of $1.44, considering my electricity cost is $0.02 per kWh, my net income per unit would be $8.33 source: (https://www.f2pool.com/miner?id=155037).
Currently, its price is $3145 source: (https://www.asicfinder.com/frontend/hardwares/bitmain-antminer-s19-xp-141t).
Now, BTC is priced at $29,048, which is quite low, and we are all waiting for the bull market to come.
Honestly, I'm not a fan of numbers and calculations, but I'm determined to make the right choice. Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

It depends actually. Mining is lot more than just making profit. If you mine and keep selling them, there is no reason to buy mining gears. But, If you can pay the electricity costs from your pocket or you sell coins only to cover your electricity costs, then you should go for mining. We are around 278 days far from the next halving event.

We are observing 29K at this moment which may get doubled before the halving. The current block reward is 6.25 which will be 3.125 after the halving. Mining is fun as well. Sometimes you need patience. I feel like your electricity cost is fairly low compared to the most part of the world.

avp2306

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Quote from: xxDmitriy on August 05, 2023, 12:43:08 AM

If I buy 10 units of S19 XP, each with a daily production value of $9.8 and a daily electricity cost of $1.44, considering my electricity cost is $0.02 per kWh, my net income per unit would be $8.33 source: (https://www.f2pool.com/miner?id=155037).
Currently, its price is $3145 source: (https://www.asicfinder.com/frontend/hardwares/bitmain-antminer-s19-xp-141t).
Now, BTC is priced at $29,048, which is quite low, and we are all waiting for the bull market to come.
Honestly, I'm not a fan of numbers and calculations, but I'm determined to make the right choice. Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

All matters on your financial capability since if you can run a mining farm and you can support all finances then maybe this is better than choosing investment where you are unsure on results or even don't know on when to invest your capital. But if budget is tight then maybe try to choose the second one since mining is so expensive and we are still not sure if we can earn,break even or totally at lose.

Findingnemo

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Quote from: xxDmitriy on August 05, 2023, 12:43:08 AM

If I buy 10 units of S19 XP, each with a daily production value of $9.8 and a daily electricity cost of $1.44, considering my electricity cost is $0.02 per kWh, my net income per unit would be $8.33 source: (https://www.f2pool.com/miner?id=155037).
Currently, its price is $3145 source: (https://www.asicfinder.com/frontend/hardwares/bitmain-antminer-s19-xp-141t).
Now, BTC is priced at $29,048, which is quite low, and we are all waiting for the bull market to come.
Honestly, I'm not a fan of numbers and calculations, but I'm determined to make the right choice. Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

Let's do some math

S19 XP = $3145

10 x S19XP = $31450

Ethernet cable, PC, and other accessories for configuration = $2000, So lets assume the total cost will be $35000

Daily earnings from units will be $83 so you need to run 35000/83= 421.5 days to make the capital alone. Remember I didn't include the operational costs which is maintenance and cooling.

And the price of bitcoin is highly volatile so your profits will be highly dependent on BTC price, Mining difficulty.

I will prefer to buy the bitcoins directly instead of mining and accumulating over the years because I feel it is best choice especfially when we have low capital but the profits will not be steady as mining so I presented the calculation so you can decide which one suits for you based on your preference.

Upgrade00

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It all depends on your preference.

You do the calculation for how long it will take to reach your one time Bitcoin purchase if you go the mining route, while factoring in regular maintenance of the mining gear and factoring in cost for any miscellaneous product you will need like a circuit breaker and others.

Then consider the pros and cons of both;
• Mining, if the gear is managed well, gives a long time investment of many years,
• A one time purchase does not need maintenance, you just need to buy a suitable wallet, store the coins and back up the keys.

xxDmitriy

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If I buy 10 units of S19 XP, each with a daily production value of $9.8 and a daily electricity cost of $1.44, considering my electricity cost is $0.02 per kWh, my net income per unit would be $8.33 source: (https://www.f2pool.com/miner?id=155037).
Currently, its price is $3145 source: (https://www.asicfinder.com/frontend/hardwares/bitmain-antminer-s19-xp-141t).
Now, BTC is priced at $29,048, which is quite low, and we are all waiting for the bull market to come.
Honestly, I'm not a fan of numbers and calculations, but I'm determined to make the right choice. Should I pursue mining for a steady source of income, or would it be more beneficial to directly purchase coins with an eye on long-term potential?

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