https://www.youtube.com/watch?v=T_ylVOLvoiY
This is how you run a personal bitcoin mining operation that still gives you positive returns.
Topic: Did you mine it or buy it? (Read 6808 times)
I'd like to ask the users here about how you got started in bitcoins and how you acquire bitcoins.
So the two questions are:
1. When you started, did you MINE or did you BUY bitcons?
2. If you are a regular user of bitcoins currently, do you MINE or do you BUY bitcoins?
To start off the discussion, I can only answer question 1. I mined bitcoins when I started. Then I bought and sold bitcoins through an exchange.
I cannot answer question 2 because I'm no longer a regular user of bitcions.
EDIT: Let me clarify question #1. If you did some sort of service and got paid in bitcoin, you essentially bought it. Even if it was a faucet, you still needed to do something to get paid. That is, the bitcoins were not given to you without any conditions. Would you have done the service for free if they didn't pay you in bitcoins? For any service, doing tasks, or advertising for someone, you would normally get paid in fiat. If you wanted bitcoins instead, you would have to buy it through an exchange. So in essence, you skipped the exchange, and got bitcoins directly. In the end, you still bought it.
So the two questions are:
1. When you started, did you MINE or did you BUY bitcons?
2. If you are a regular user of bitcoins currently, do you MINE or do you BUY bitcoins?
To start off the discussion, I can only answer question 1. I mined bitcoins when I started. Then I bought and sold bitcoins through an exchange.
I cannot answer question 2 because I'm no longer a regular user of bitcions.
EDIT: Let me clarify question #1. If you did some sort of service and got paid in bitcoin, you essentially bought it. Even if it was a faucet, you still needed to do something to get paid. That is, the bitcoins were not given to you without any conditions. Would you have done the service for free if they didn't pay you in bitcoins? For any service, doing tasks, or advertising for someone, you would normally get paid in fiat. If you wanted bitcoins instead, you would have to buy it through an exchange. So in essence, you skipped the exchange, and got bitcoins directly. In the end, you still bought it.
OK, let me ask you something then:
How did you mine it?
With what kind of miner?
How did you buy the miner?
With fiat or btc?
I never mined 0.0001 , I have a simple graphic card (Nvidia 9100 ; 2.5 gb) ,
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
Mining with a graphic card hasn't been viable for a long time. You are better off just buying your bitcoin.. You will lose money on energy if you mine with gpu
It has been profitable for a short while, although mining with such Nvideo cards was not the way to go. AMD / ATI graphics cards were able to do the job, but then you still needed to mine the right coins to make some nice money.
I think it is really possible from altcoin trade indeed, although you need some luck. By succesfull daytrading / short term trading you can make some extra bucks easily.
A great deal depends on liquidity though. In theory you could have gained hundreds of BTC on certain alts, but if you'd tried to actually claim them on the market in most cases you'd be lucky to get 5% out before squashing the whole thing flat.
There are a lot of paper gains out there.
Yes, you're right on that. Most of the current altcoin markets which are highly viotile, do have such low amounts of BTC (in total) going around that simply buying it with some 0,x BTC would increase the price even more, but you're unable to sell the coins at a nice price (as you would allmost "crash" the whole altcoin if you own much coins in relation to the current amount of coins going around).
If you're the biggest miner you've got the biggest bills and probably the biggest OTC deals too. I'd vote more for selling than hoarding.
Hmm... I don't know... I have heard about mining rig manufacturers using their customers' mining rigs to mine Bitcoin. They will delay the shipping by 3-4 months, and during that time, they will mine Bitcoins for their own use. In this case, the capital expenses are near zero. And if the electricity is reasonably priced, then the mining operation will be in a great deal of profit.
I bought worth $5 BTC and invested it. After days goes by I already have now $100 but it's hard to earn it.
would you care to share what did you invest your $5 worth of bitcoin in and also how long did it take you to reach $100 ?most likely altcoin "investments". these can explode in price from time to time. if not, then i also want to know how you made $100 with only 5 bucks.
with gambling, though it is possible! but rare
It is possible for you to grow your investment in the altcoin scene by a thousand % in a span of a month, and that is only achievable if you picked the "right" coins and the right time on entering the scene. I highly doubt that he made those within days, but it is possible. There are coins that shoot up hundreds of percentage rise in a course of 30 minutes, and if you're lucky and clever, you could make a good profit from it.
I bought worth $5 BTC and invested it. After days goes by I already have now $100 but it's hard to earn it.
would you care to share what did you invest your $5 worth of bitcoin in and also how long did it take you to reach $100 ?most likely altcoin "investments". these can explode in price from time to time. if not, then i also want to know how you made $100 with only 5 bucks.
with gambling, though it is possible! but rare
1. buy, I started my bitcoin investment in March of 2013, at that time, mining rigs cost a lot of money, avalon mining rigs were ridiculous expensive in 2013. It cost over 3000 USD. BFL mining rigs were scam and didn't ship machines at all.
2. still buy, mining is too difficult, can't get the principal back, especially difficulty is extremely high and mining rigs are extremely expensive. I could mine a tiny amount of btc.
In conclusion, I never mine btc, it is a tough job, I am an investor, that's why I buy btc instead of mining.
2. still buy, mining is too difficult, can't get the principal back, especially difficulty is extremely high and mining rigs are extremely expensive. I could mine a tiny amount of btc.
In conclusion, I never mine btc, it is a tough job, I am an investor, that's why I buy btc instead of mining.
I think you can buy a lot because you got some money to spare for your bitcoin. I dont think everyone is just the same as you, they just need to find a really good ways to earn their bitcoin not from buying. And for now that way is hard to look for
1. buy, I started my bitcoin investment in March of 2013, at that time, mining rigs cost a lot of money, avalon mining rigs were ridiculous expensive in 2013. It cost over 3000 USD. BFL mining rigs were scam and didn't ship machines at all.
2. still buy, mining is too difficult, can't get the principal back, especially difficulty is extremely high and mining rigs are extremely expensive. I could mine a tiny amount of btc.
In conclusion, I never mine btc, it is a tough job, I am an investor, that's why I buy btc instead of mining.
2. still buy, mining is too difficult, can't get the principal back, especially difficulty is extremely high and mining rigs are extremely expensive. I could mine a tiny amount of btc.
In conclusion, I never mine btc, it is a tough job, I am an investor, that's why I buy btc instead of mining.
I never mined 0.0001 , I have a simple graphic card (Nvidia 9100 ; 2.5 gb) ,
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
Mining with a graphic card hasn't been viable for a long time. You are better off just buying your bitcoin.. You will lose money on energy if you mine with gpu
be profitable else I just bought them ready
.Bitcoin Boy .
Buy! its practically impossible to mine now.
Yes its true that mining for now is late because payout from solving blocks can't cover the cost of electricity, thats why many people is choosing buying than mining altough buying need some good budget so it would be like pumping bitcoin. But I am still wondering why there are still miners out there that advertise their mines like cloud mining or something like that
Neither mining nor buying,i earn my coins doing faucet,following Sign comp and trading,thats all
Buy! its practically impossible to mine now.
All those mega-mining farms (especially those in China) are making it extremely unprofitable for smaller and medium-sized players to mine Bitcoins. Anyway, it will be interesting to know whether these farms are immediately selling their coins (i.e converting them to fiat) or not. If they are hoarding a part of the coins which they are mining, then it can create problems later.
If you're the biggest miner you've got the biggest bills and probably the biggest OTC deals too. I'd vote more for selling than hoarding.
I'd guess that Chinese miners don't have much in the way of vision. There's no particular reason to have any if you know your government will never let it flourish beyond pointless market wanking.
Buy! its practically impossible to mine now.
All those mega-mining farms (especially those in China) are making it extremely unprofitable for smaller and medium-sized players to mine Bitcoins. Anyway, it will be interesting to know whether these farms are immediately selling their coins (i.e converting them to fiat) or not. If they are hoarding a part of the coins which they are mining, then it can create problems later.
Another late arriver here and never really got the chance to mine it because all I heard was how it is not profitable to mine, I listened and just brought and traded instead. To this date I have cashed out my orignal investment because I needed the funds in fiat which was a shame but needs a must and all. On the bright side I still have more than I started with after trading and a few extra bits, now I just freeroll and don't care about the price as much as I may have had I not cashed my orignal investment out.
Buy! its practically impossible to mine now.
I think it is really possible from altcoin trade indeed, although you need some luck. By succesfull daytrading / short term trading you can make some extra bucks easily.
A great deal depends on liquidity though. In theory you could have gained hundreds of BTC on certain alts, but if you'd tried to actually claim them on the market in most cases you'd be lucky to get 5% out before squashing the whole thing flat.
There are a lot of paper gains out there.
I never mined 0.0001 , I have a simple graphic card (Nvidia 9100 ; 2.5 gb) ,
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
Mining with a graphic card hasn't been viable for a long time. You are better off just buying your bitcoin.. You will lose money on energy if you mine with gpu
You should go to Barnacle's Youtube to see what kind of gear you need to make decent gains monthly as a single entity (not part of a mining project, and not hiring cloud services).
I would buy it and then should start trading as trading can earn you a good profit so trading at a right time will make it more interesting and profitable presently, would definitely go for buying and trade it when prices goes high or just keep it and wait for the future to sell it off.
I never mined 0.0001 , I have a simple graphic card (Nvidia 9100 ; 2.5 gb) ,
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
and i don't know why its slow , so i just bought bitcoin or earn it .
Bitcoin Boy .
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