Topic: Do you prefer to buy bitcoin or do bitcoin mining? - page 3. (Read 927 times)
Although an ASIC can be built to provide optimal hashrates on an algorithm, the Graphics Processing Unit (GPU) is much more powerful than the CPU, and more flexible than an ASIC in their application. The GPU is the chip that enables graphics cards (often called GPUs for brevity in mining circles) to perform millions of repetitive calculations at the same time so that games can be rendered in real time. They are also used to render special effects, or for machine learning and artificial intelligence. Whereas an ASIC is purpose made to mine a single algorithm, a GPU is capable of mining different algorithms. It’s possible you could mine Ethereum, Monero, Zcash, Grin and many other coins with the same GPU.
At the current market price, it's more practical and profitable to buy Bitcoin than to mine and with the halving almost a month away mining business will have a hard time generating profit, some of them will even sell their rigs or shift to mining other coins and trade it to Bitcoin if you prefer buying Bitcoin all you are going to need is to just watch the prize and you can always liquidate anytime.
You are right. I'm studying ETH mining recently. Does anyone have experience of ETH mining here?
At the current market price, it's more practical and profitable to buy Bitcoin than to mine and with the halving almost a month away mining business will have a hard time generating profit, some of them will even sell their rigs or shift to mining other coins and trade it to Bitcoin if you prefer buying Bitcoin all you are going to need is to just watch the prize and you can always liquidate anytime.
I'd like to speak at the present situation, it's much more preferable to buy Bitcoin now, it is 25 to 30% lower than last week price, Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.
I prefer to buy and sell as it has a easy accessibility to your capital whenever you require it. Mining first require a huge cash inflow in order to buy equipment’s, setup the place or take it on rent etc which all required the huge capital. Also, levels keep on becoming difficult and ROI would be very long. In trading or investing you can make money if you invest in right coins at good time and sell it when you reach your goal.
Anyone here booked S19 from Bitmain?
Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.
I would not call it a thing for the past because the professional mining companies are doing it everyday, maintaining their rigs and upgrading their equipment. Maybe hobbyist miners are no longer here and this is normal considering the number of miners required to keep up with the difficulty.Price checking everyday is a thing but it one of the things that a miner accepts before starting mining because price changes are an inherent part of this market.
I'd like to speak at the present situation, it's much more preferable to buy Bitcoin now, it is 25 to 30% lower than last week price, Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.
Right now the easiest way to collect would be to buy bitcoins directly since the price is so low.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.
Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.
Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.
Agree, now it's shopping season for Bitcoins. Imagine how those miners are feeling having to foot those massive electricity bills
Right now the easiest way to collect would be to buy bitcoins directly since the price is so low.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.
Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.
Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.
Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.
I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.
The electric fee hurts with the M21s. Before turn off, I suggest you to make a math in excel...
* In each month put the electric fee based on the rate of every season.
* Put the coins qty (BTC or whatever you mine)
* Estimate when the value will go up and see if the numbers makes sense.
* Don't forget the time for ROI, difficulty, etc.
In my case it is too difficult to calculate because I don't mine BTC, I'm mining Monacoin then add 20~40% of profit to convert to BTC. Also it's suffering 51% of attack which makes it too volatile (beside of BTC value).
Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.
I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.
OMG! What's wrong with BTC and the whole economy?
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.
Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.
I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.
OMG! What's wrong with BTC and the whole economy?
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.
I'm waiting for BCH=0.03BTC this time!
So welcome any of you to share your experiences of collecting more bitcoins. Persuade me 
You can also try some other cryptos and convert them into bitcoin to make more bitcoins than mining bitcoins directly but I am not sure how this work since I am not an expert in bitcoin mining but this works with ethereum miners.But mining is not the preferred option for most because its not for everyone,only who can afford the hardware and electricity bill can go for it.
For me mining is complicated due to high price of electricity. On the other hand my government still against of bitcoin, so if incase I caught with mining equipments or btc then likely I will be on jail. So better option for me is holding btc and buy more on dip what I am doing now. I can buy bitcoin silently, but mining electricity bill would more than what I will earn by mining fee. So who have opportunity to mine bitcoin then do it besides of buy. Likely you would get benefit from both.
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Dont know about you buy five grands is a big amount from my perspective. So if you are happy to invest that and willing to verify the locations and see if these miners really exist them go forward with it. Dont take my word for it though. There are still ways you could get scammed. But if you have physical access to the location, and your social engineering skills are good you could milk out some information from the people working there too.
Well, yes I did milk out some secret information from the workers in the mining farms. Years ago, they "steal" hashrates from machines which were owned by their customers. But now they said they can't do this anymore because of the more focus on management. Besides, I think the working in the mining farms is really boring. They easily feel lone with those running and noisy machines all day and night. No entertainment, no girls.
Why I'm asking this question?
Because I checked my wallet several days ago, and I found I have 59 bitcoin cash in 2018, and I only just convert between bitcoin cash and bitcoin, and I converted totally for 4 times until now. I earned 30 bitcoin cash finally. I didn't think I can make this much in this way. I still keep on mining by myself to collect more bitcoins.
2 ways can bring the same result-collect more coins. That's pretty good. The bitcoin halving is coming, I don't know what will happen on mining, but let's see.
So welcome any of you to share your experiences of collecting more bitcoins. Persuade me
Because I checked my wallet several days ago, and I found I have 59 bitcoin cash in 2018, and I only just convert between bitcoin cash and bitcoin, and I converted totally for 4 times until now. I earned 30 bitcoin cash finally. I didn't think I can make this much in this way. I still keep on mining by myself to collect more bitcoins.
2 ways can bring the same result-collect more coins. That's pretty good. The bitcoin halving is coming, I don't know what will happen on mining, but let's see.
So welcome any of you to share your experiences of collecting more bitcoins. Persuade me
Mining is not for everyone. First of all mining bitcoin involves technical setup which is not everyone's cup of tea. Next even if someone have required technical knowledge, the difficulty to mine have reached to very high level and financial constraint comes in the way. You have to set up huge mining system to reach an optimal level where you will find a block before others and make some money while covering your fixed (cost of machinery) plus variable cost (cost of electricity). It's almost impossible for individuals to mine Bitcoin in 2020.
That's why the market of buying/selling bitcoin have been started. To provide easy access to bitcoin to everyone. I only buy bitcoins and never tried mining one, nor will do in foreseeable future.
I calculated that how much you need to invest to mine 1BTC in a month at present. You need to invest about 72857$, 1BTC will be back in a month.
I located in China and can visit many mining farms to verify the running rigs. Yes, make sure they have rigs before investing in cloud mining. I don't invest much in cloud mining, around 5000-7000$, and it can bring me some real bitcoins in case of inflation.
Dont know about you buy five grands is a big amount from my perspective. So if you are happy to invest that and willing to verify the locations and see if these miners really exist them go forward with it. Dont take my word for it though. There are still ways you could get scammed. But if you have physical access to the location, and your social engineering skills are good you could milk out some information from the people working there too.Quote
Not anyone here investing in a "verified" cloud mining platform? all are scammed?? 
I have been watching these things since several years now. You will also have the same idea if you would be in my place long enough.Jump to: