Topic: Do you prefer to buy bitcoin or do bitcoin mining? (Read 927 times)
Looks like you did great with mining coin. But I will not choose bitcoin mining for myself. Cause for mining btc I need to buy hardware and mining needs a lot of electricity. Which will lead me to loss. I can buy whatever amount I wish and if I hold it for long it may give me good profit. Holding bitcoins is free of cost.
I prefer to buy itself as for mining it depends upon many factors where ROI is concerned and not feasible considering the electricity expense, equipment cost etc is all concerned. Instead buying bitcoin is much simpler and with some rise if I want to see it, I can do on immediate basis or require money urgently still can sell and get it but that is not the case with mining.
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On a normal circumstance, I will prefer to mine bitcoin over buying them, but then, the mining machines are cheap to buy cus i believe if it were, majority will mining bitcoin, so those of us that can't afford the mining machines and the expenses involved with it are subject to buying on the exchanges or earning them through bounty
Everyone can't earn bitcoin by mining. There are a lot of people who are not able to buy hardware and others things for mining but if he wants to buy a small amount, he can do it easily.
Right, everyone can't afford to buy a high end rigs since not everyone have financial capacity to avail that and if they buy a low end rigs for sure its not worth it since the profit is so low and cannot be sustainable in the long run. That's why many buy bitcoin roll it on exchange and try to multiply it.But if you live on a country which have low electricity cost as well you have funds for the said operation then why not right? but the problem really here is those options is for rich people only and ordinary people options is to earn by various ways, we don't need to buy though since we can sell our services here to gain.
Everyone can't earn bitcoin by mining. There are a lot of people who are not able to buy hardware and others things for mining but if he wants to buy a small amount, he can do it easily.
Right, everyone can't afford to buy a high end rigs since not everyone have financial capacity to avail that and if they buy a low end rigs for sure its not worth it since the profit is so low and cannot be sustainable in the long run. That's why many buy bitcoin roll it on exchange and try to multiply it.
This is good news for the miners worldwide.
North America Own Bitmain Repair Center
https://www.verbolsa.com/en/newsa/news-102722-this-crypto-mining-operator-was-named-bitmain-s-sole-north-american-cooperative-repair-center
North America Own Bitmain Repair Center
https://www.verbolsa.com/en/newsa/news-102722-this-crypto-mining-operator-was-named-bitmain-s-sole-north-american-cooperative-repair-center
maybe I will state crypto in general, because I have experience in mining eth and other alts, but not bitcoin.
honestly, I am in lost in crypto mining.
I started mining since 2 years ago I think. I know I am late.
I lost my money and time. but I am an enthusiast who wants to learn.
Do you prefer to buy bitcoin or do bitcoin mining?
my answer depends on several conditions.
with this current market (crypto and computer) situation, I prefer to buy it.
if you are an early adopter, or
if you have a cheap rig with high hash power, or
if you have cheap electricity.
maybe mining is your choice.
but, if you have no time to maintain your rig, or
if you don't have computer skills, or
if you want an instant process.
maybe buying crypto is your choice.
honestly, I am in lost in crypto mining.
I started mining since 2 years ago I think. I know I am late.
I lost my money and time. but I am an enthusiast who wants to learn.
Do you prefer to buy bitcoin or do bitcoin mining?
my answer depends on several conditions.
with this current market (crypto and computer) situation, I prefer to buy it.
if you are an early adopter, or
if you have a cheap rig with high hash power, or
if you have cheap electricity.
maybe mining is your choice.
but, if you have no time to maintain your rig, or
if you don't have computer skills, or
if you want an instant process.
maybe buying crypto is your choice.
I agree most of your points. But I do have a concern that you have big "chances" buy the bitcoin at a very high price and lose the trading profit. Well, if you are so lucky and buy at a lower price, then you have big chances to win. Camparison the buying, mining will be more stable to get the bitcoins with a low price, but time is consuming. You need to invest it in a long-term run, maybe 1 year, 2years.
Everyone can't earn bitcoin by mining. There are a lot of people who are not able to buy hardware and others things for mining but if he wants to buy a small amount, he can do it easily.
Right, everyone can't afford to buy a high end rigs since not everyone have financial capacity to avail that and if they buy a low end rigs for sure its not worth it since the profit is so low and cannot be sustainable in the long run. That's why many buy bitcoin roll it on exchange and try to multiply it.
maybe I will state crypto in general, because I have experience in mining eth and other alts, but not bitcoin.
honestly, I am in lost in crypto mining.
I started mining since 2 years ago I think. I know I am late.
I lost my money and time. but I am an enthusiast who wants to learn.
Do you prefer to buy bitcoin or do bitcoin mining?
my answer depends on several conditions.
with this current market (crypto and computer) situation, I prefer to buy it.
if you are an early adopter, or
if you have a cheap rig with high hash power, or
if you have cheap electricity.
maybe mining is your choice.
but, if you have no time to maintain your rig, or
if you don't have computer skills, or
if you want an instant process.
maybe buying crypto is your choice.
honestly, I am in lost in crypto mining.
I started mining since 2 years ago I think. I know I am late.
I lost my money and time. but I am an enthusiast who wants to learn.
Do you prefer to buy bitcoin or do bitcoin mining?
my answer depends on several conditions.
with this current market (crypto and computer) situation, I prefer to buy it.
if you are an early adopter, or
if you have a cheap rig with high hash power, or
if you have cheap electricity.
maybe mining is your choice.
but, if you have no time to maintain your rig, or
if you don't have computer skills, or
if you want an instant process.
maybe buying crypto is your choice.
Everyone can't earn bitcoin by mining. There are a lot of people who are not able to buy hardware and others things for mining but if he wants to buy a small amount, he can do it easily.
Yearn.finance is crazy. Why the price can be so high at $ 33,000??
Mining is not profitable now, miners are selling their mining rigs, because only big mining companies can mine Bitcoin now after the halving I prefer to buy bitcoin and saves me from the hustle of setting up and electricity cost, I think this is also the options of many people.
At an individual level do not think mining is that profitable anymore. Instead buying is so much better as it is easy to buy/sell and exit anytime without any worries. Mining can involve lot of issues and you cannot make immediate profits as compared to trading with cryptos.
www.1tmine.com where people can trade hashrates anytime. Buy/sell and exit mining anytime. When BTC price is up, it's a good chance to buy hashrates, when hashrates price is up, you can consider to sell them to earn the price difference. That's one of my strategies.
Mining is not profitable now, miners are selling their mining rigs, because only big mining companies can mine Bitcoin now after the halving I prefer to buy bitcoin and saves me from the hustle of setting up and electricity cost, I think this is also the options of many people.
At an individual level do not think mining is that profitable anymore. Instead buying is so much better as it is easy to buy/sell and exit anytime without any worries. Mining can involve lot of issues and you cannot make immediate profits as compared to trading with cryptos.
...
This article https://medium.com/valarhash/mining-industry-4-0-dc5a4b31ba0f may give you some concept of crypto mining.
maybe I will not start to build a mine in the near future but this will be very useful for me to discuss with my husband as our future plans.
I don't have the knowledge to do mining so I choose to continue to buy Bitcoin...
once crossed my mind to have a cryptocurrency mining but I realize now I am just a housewife who is busy with her family, maybe if in the future my children have grown up, I will discuss with my husband to make cryptocurrency mining.
once crossed my mind to have a cryptocurrency mining but I realize now I am just a housewife who is busy with her family, maybe if in the future my children have grown up, I will discuss with my husband to make cryptocurrency mining.
This article https://medium.com/valarhash/mining-industry-4-0-dc5a4b31ba0f may give you some concept of crypto mining.
I don't have the knowledge to do mining so I choose to continue to buy Bitcoin...
once crossed my mind to have a cryptocurrency mining but I realize now I am just a housewife who is busy with her family, maybe if in the future my children have grown up, I will discuss with my husband to make cryptocurrency mining.
once crossed my mind to have a cryptocurrency mining but I realize now I am just a housewife who is busy with her family, maybe if in the future my children have grown up, I will discuss with my husband to make cryptocurrency mining.
Mining is not profitable now, miners are selling their mining rigs, because only big mining companies can mine Bitcoin now after the halving I prefer to buy bitcoin and saves me from the hustle of setting up and electricity cost, I think this is also the options of many people.
True, because without cheap electricity or good management of mining farms, it's more difficult to earn.
But if people still want to invest in bitcoin mining, there's also a smart way to make money/accumulate more bitcoins: buy machines and host them in a well-organized mining farm where provides a competitive electricity rate.
Mining is not profitable now, miners are selling their mining rigs, because only big mining companies can mine Bitcoin now after the halving I prefer to buy bitcoin and saves me from the hustle of setting up and electricity cost, I think this is also the options of many people.
That's what I have done so far, mining bitcoin even mining another altcoin like ETH is not worth in a country with high electricity payment. I have my friend who now he still mine ETH, and do you know what he gets per months? Yea he just got $10 permonths and I don't think that is good to be an income. Moreover with mining bitcoin, I don't think there will a miner in my country. Buying (it means to be made as investing) will give a good result for me especially I bought it at the lower price and selling it at high price, it is more make sense to me.
"I bought it at the lower price and selling it at high price" That's what I do with my rig hashrates.
same same as buy/sell altcoins in an exchange.This will happen only if you have big money to spend on both selection but I don't really trust mining by now even if many said that they can earn with this maybe I will stick on altcoin exchange since we might gonna see some certain changes that can make us earn decent amount of money. compare to spending huge on minings where profit is un sure due to high difficulty nowadays.
That's what I have done so far, mining bitcoin even mining another altcoin like ETH is not worth in a country with high electricity payment. I have my friend who now he still mine ETH, and do you know what he gets per months? Yea he just got $10 permonths and I don't think that is good to be an income. Moreover with mining bitcoin, I don't think there will a miner in my country. Buying (it means to be made as investing) will give a good result for me especially I bought it at the lower price and selling it at high price, it is more make sense to me.
"I bought it at the lower price and selling it at high price" That's what I do with my rig hashrates.
same same as buy/sell altcoins in an exchange. 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
Where are you mining bitcoin? Do you have a rig for mining?
Technically it is a passive earning of bitcoin if you will mine it. But miners nowadays are having hard times because they are being overrun by giant mining companies.
I'd rather go buying and selling bitcoin. I do not have enough money to invest for some computer to mine bitcoin. It is ver expensive and lots of electrical power will be consumed.
I didn't have a rig. I have been buying the hashrate contracts on platforms which I definitely confirm they have machines behind those contracts. I've tried several platforms before, like hashnest I earned a lost in 2016-2017 there, but begin to lose in 2018. As I learned, they were running separatedly outside of Bitmain and they have less machines and weak management in mining farms. So I left. In 2019, I joined a new platform 1TMINE.com where I can buy enough hashrate contracts , better I can also sell the hashrates anytime if I predict the rig price will drop. I already earned over 0.05btc and the rigs are still keep mining. What I should do is to watch the machine market, when to buy more and when to sell them to the hashrate market. Good luck to me.
I prefer to buy bitcoin than mining, if the cost of mining bitcoin is not that expensive, I believe that almost every one will prefer mining it, and I feel it's good in that way, if not lots of people would prefer to keep dumping the price. But when you realize the expenses and time it takes you to mine there is no option you've got to consider buying especially those in a country where electricity tariff is very high
Not everyone can do bitcoin mining as you need a lot of expensive equipment for mining and there should be cheap electricity in your country. Bitcoin mining is no more an ordinary person job and it is done by mining farms and big companies. Buying bitcoin is a more realistic approach.
If bitcoin's price pump high , than it would be more profitable for personal miners. But in this current time, only big mining farms are in small profits and personal miners are struggling to do so. So it's better to wait for bull run of bitcoin if anyone's willing to do bitcoin mining. Also buying bitcoin will be the best option to be able to make some profits before starting the journey of bitcoin mining, imo.
I prefer to buy bitcoin than mining, if the cost of mining bitcoin is not that expensive, I believe that almost every one will prefer mining it, and I feel it's good in that way, if not lots of people would prefer to keep dumping the price. But when you realize the expenses and time it takes you to mine there is no option you've got to consider buying especially those in a country where electricity tariff is very high
Not everyone can do bitcoin mining as you need a lot of expensive equipment for mining and there should be cheap electricity in your country. Bitcoin mining is no more an ordinary person job and it is done by mining farms and big companies. Buying bitcoin is a more realistic approach.
I prefer to buy bitcoin than mining, if the cost of mining bitcoin is not that expensive, I believe that almost every one will prefer mining it, and I feel it's good in that way, if not lots of people would prefer to keep dumping the price. But when you realize the expenses and time it takes you to mine there is no option you've got to consider buying especially those in a country where electricity tariff is very high
In our country electricity cost is not cheap and then making huge investment in the equipment’s and then waiting for the ROI will take lot of time . Instead investing and trading in bitcoin will yield me better results when calculating the returns of investment. Also can make money in short term as well and use it . So I prefer buying as an option .
That's what I have done so far, mining bitcoin even mining another altcoin like ETH is not worth in a country with high electricity payment. I have my friend who now he still mine ETH, and do you know what he gets per months? Yea he just got $10 permonths and I don't think that is good to be an income. Moreover with mining bitcoin, I don't think there will a miner in my country. Buying (it means to be made as investing) will give a good result for me especially I bought it at the lower price and selling it at high price, it is more make sense to me. 
Buying of course. Mining is too much of a hassle and is too risky.
Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
I agree into this sentiment where mining is too much hassle and not only risky but also expensive kind of investment.Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
This had always been part when you do get engage into this activity where lots of factors that you should consider first before proceeding.
When it comes to mining company scams then its just dumb for you not to directly purchase on Bitmain and do consider other site because it is cheap which is really a very wrong mindset to have.
honestly I wish mine bitcoin one day, but the price of electricity in my country is a real nightmare. my country's electricity price is at 0.13 U.S. Dollar and from what I see in the coming years the price will increase even more
a comparison:
https://www.globalpetrolprices.com/electricity_prices/
In china where they say that electricity Is cheap according to this website that I posted the link is 0.08 U.S. Dollar. you can see that there is no way I can mine in my country. My options for increasing bitcoins are to use riskier options like:
1 - Trade
2 - sports betting
When it comes on tending to increase your bitcoin stash then i do consider Trading but sportsbetting or other forms of gambling? Definitely no.!a comparison:
https://www.globalpetrolprices.com/electricity_prices/
In china where they say that electricity Is cheap according to this website that I posted the link is 0.08 U.S. Dollar. you can see that there is no way I can mine in my country. My options for increasing bitcoins are to use riskier options like:
1 - Trade
2 - sports betting
Same as yours where mining here on my country is just totally senseless because of electricity cost on where the money or profit you do earn is just enough for
you to pay up your electricity bill.
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
Where are you mining bitcoin? Do you have a rig for mining?
Technically it is a passive earning of bitcoin if you will mine it. But miners nowadays are having hard times because they are being overrun by giant mining companies.
I'd rather go buying and selling bitcoin. I do not have enough money to invest for some computer to mine bitcoin. It is ver expensive and lots of electrical power will be consumed.
honestly I wish mine bitcoin one day, but the price of electricity in my country is a real nightmare. my country's electricity price is at 0.13 U.S. Dollar and from what I see in the coming years the price will increase even more
a comparison:
https://www.globalpetrolprices.com/electricity_prices/
In china where they say that electricity Is cheap according to this website that I posted the link is 0.08 U.S. Dollar. you can see that there is no way I can mine in my country. My options for increasing bitcoins are to use riskier options like:
1 - Trade
2 - sports betting
a comparison:
https://www.globalpetrolprices.com/electricity_prices/
In china where they say that electricity Is cheap according to this website that I posted the link is 0.08 U.S. Dollar. you can see that there is no way I can mine in my country. My options for increasing bitcoins are to use riskier options like:
1 - Trade
2 - sports betting
Buying of course. Mining is too much of a hassle and is too risky.
Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
Buying is easy and one can within minutes buy/sell and get the money if the required urgently. But that is not the case with mining as first we have to do complete setup, make a huge investment with the equipment’s and then if dint find it lucrative in terms of the returns then again people have to sell and may not get good price of as it becomes deprecated. So its a loss again. So instead buying is much better it seems to me.
In our country electricity cost is not cheap and then making huge investment in the equipment’s and then waiting for the ROI will take lot of time . Instead investing and trading in bitcoin will yield me better results when calculating the returns of investment. Also can make money in short term as well and use it . So I prefer buying as an option .
True, electricity cost is one of the big factors we should concern. In China the rainy seasons right now and the electricity rate is 0.036$/Kwh. But I believe there's still cheaper electricity in other countries.
Buying of course. Mining is too much of a hassle and is too risky.
Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
Mining company scams, preorders, shipping delays.
Additional taxes on packages from China and a chance they get damaged ir seized.
No warranty on mining hardware.
Even if you pull it off somehow they can steal it from you much easier than they would be able to steal coins.
In our country electricity cost is not cheap and then making huge investment in the equipment’s and then waiting for the ROI will take lot of time . Instead investing and trading in bitcoin will yield me better results when calculating the returns of investment. Also can make money in short term as well and use it . So I prefer buying as an option .
True, electricity cost is one of the big factors we should concern. In China the rainy seasons right now and the electricity rate is 0.036$/Kwh. But I believe there's still cheaper electricity in other countries.
Check the difficulty of its nethash on https://whattomine.com/
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
Thanks for the info.
I calculated that ETH mining takes around 9 months to get the payback while the bitcoin mining right now takes around 18 months. To mine ETH , Zcash or other fast payback coins, then trade to BTC, maybe it's a new way out.
I guess you will be fine and you know where and how to start. From I have read with other miners before, that's what they do. Mine altcoins and then sell it to stack bitcoin.
Thinking of on the current difficulty on the current market condition then we can normally say that mining ROI would take much longer or simply say it isnt profitable until that specific period of time.
Unless if you do live in a place where electricity is darn cheap which would lessen up the duration and also the best thing to have as a miner.Its much better to trade than on considering
this field yet we know that mining activity doesnt really only cost a few dollars for you to deal with.
Check the difficulty of its nethash on https://whattomine.com/
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
Thanks for the info.
I calculated that ETH mining takes around 9 months to get the payback while the bitcoin mining right now takes around 18 months. To mine ETH , Zcash or other fast payback coins, then trade to BTC, maybe it's a new way out.
I guess you will be fine and you know where and how to start. From I have read with other miners before, that's what they do. Mine altcoins and then sell it to stack bitcoin.
I would much rather buy btc than to mine especially when I don't have the mining equipment, imagine someone with $200 wants to buy btc, it will be much easier to pick up some btc from any good exchange than to go through mining process, just save yourself the trouble and buy,
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
It's up to you. As I mentioned before, there are legal platforms where you can buy cloud mining products and join mining easily. Why I choose to mine bitcoin, because I can get bitcoin every day by mining and I can keep mining as long as I will until the mining profit get negative.
Besides, I always believe bitcoin network security can't leave the mining. More people joining mining will make the bitcoin world better.
Mining requires you to have cheap electricity and not every country have the same power consumption price so it varies and cloud mining have been so hard to distinguish because a lot of ponzi scams are running in the face of cloud mining. If there was one genuine way to invest your money and actually mine bitcoins then it was great but because of so many scams it is only viable to mine if you do it personally by purchasing miner hardware and calculate electricity cost, etc.
I would much rather buy btc than to mine especially when I don't have the mining equipment, imagine someone with $200 wants to buy btc, it will be much easier to pick up some btc from any good exchange than to go through mining process, just save yourself the trouble and buy,
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
It's up to you. As I mentioned before, there are legal platforms where you can buy cloud mining products and join mining easily. Why I choose to mine bitcoin, because I can get bitcoin every day by mining and I can keep mining as long as I will until the mining profit get negative.
Besides, I always believe bitcoin network security can't leave the mining. More people joining mining will make the bitcoin world better.
Check the difficulty of its nethash on https://whattomine.com/
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
Thanks for the info.
I calculated that ETH mining takes around 9 months to get the payback while the bitcoin mining right now takes around 18 months. To mine ETH , Zcash or other fast payback coins, then trade to BTC, maybe it's a new way out.
I would much rather buy btc than to mine especially when I don't have the mining equipment, imagine someone with $200 wants to buy btc, it will be much easier to pick up some btc from any good exchange than to go through mining process, just save yourself the trouble and buy,
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.
You are right. I'm studying ETH mining recently. Does anyone have experience of ETH mining here?
Check the difficulty of its nethash on https://whattomine.com/And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.
You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.
You can do both but mining is not for everyone, so personally I would just buy bitcoin and hold it, less hassle.
When you are investing and doing bitcoin mining, that's a double risk, or even mining alone, it requires a lot of capital to be able to stay profitable, and as what I have read, for one to be profitable in mining, it has to have a good mining rigs which are expensive at the moment, not only that, you also need to have the knowledge, so basically what I'm saying here, this is only for people with technical skills and are big risk takers.
so I'll stick with investing through holding only.
When you are investing and doing bitcoin mining, that's a double risk, or even mining alone, it requires a lot of capital to be able to stay profitable, and as what I have read, for one to be profitable in mining, it has to have a good mining rigs which are expensive at the moment, not only that, you also need to have the knowledge, so basically what I'm saying here, this is only for people with technical skills and are big risk takers.
so I'll stick with investing through holding only.
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.
Quote
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.
Investing in cloud mining, for me, I think it's like "put part of the fund in a bank with low rate", the rate may be low, but it's growing slowly. Of course, you have to know the basic factors which impacting the mining profit and you can adjust your strategy. Win or lose depends on your decisions.
Don't risk your money to invest in cloud mining, the reply of @gentlemand was right most of them are Ponzi scheme and probably didn't tell the truth if they are real miners. So, it's better to avoid this kind of investment platform.How I wish before to have mining equipment but I discourage when I knew in my place it's too expensive for the electric bill. I read articles that it is good to mine Bitcoin if you are in a cold place, you can save for energy consumption.
I preferred to buy Bitcoin at dip price and accumulate as much as I can without worrying about the electric expenses after the end of the month.
It sounds to me more like you are an investor in a real mine.
Cloud mining arranged via internet, which is normally how it happens with no option of seeing real mining, is almost always a ponzi scheme that never actually exists. They usually post photos of someone else's equipment and then keep taking money from new customers/victims to pay the old ones until the game ends.
True. It will be safer if you know someone working for the cloud mining platform.
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
I would prefer buying over mining during this kind of market situation. Mining equipment is hard and expensive to purchase. You should also have a huge capital for mining necessities, especially for electricity. Buying Bitcoin is hassle-free compared to mining and you could hold it until you reach the target that you want. Yes, it is true, we could purchase Bitcoin but not all of us could afford to do mining.
Not anyone here investing in a "verified" cloud mining platform? all are scammed??
It sounds to me more like you are an investor in a real mine.
Cloud mining arranged via internet, which is normally how it happens with no option of seeing real mining, is almost always a ponzi scheme that never actually exists. They usually post photos of someone else's equipment and then keep taking money from new customers/victims to pay the old ones until the game ends.
Investing in cloud mining, for me, I think it's like "put part of the fund in a bank with low rate", the rate may be low, but it's growing slowly. Of course, you have to know the basic factors which impacting the mining profit and you can adjust your strategy. Win or lose depends on your decisions.
At least, we can get bitcoin without buying. But I prefer to buy bitcoin than mining bitcoin because I don't have a low fee of electricity so that will cost me huge expenses in a day or a month. Gladly, if we buy bitcoin, we don't have to buy 1 bitcoin directly, but we can buy a fraction of bitcoin, and we adjust our money to buy how many satoshis we want.
That can help people if they prefer to buy bitcoin than mining bitcoin because they can use, for example, $10-100 to purchase bitcoin, and hold it or trade it with the coins. But if you have a low fee of electricity and you have money to buy the hardware, then yes, mining bitcoin will be recommended for you.
I agree to buy some too but it makes me nervous. Because I need to check when is the lowest to buy more or sell them at top. When I already have some bitcoins, and I'd like to invest the bitcoins in mining for more.
I located in China and can visit many mining farms to verify the running rigs. Yes, make sure they have rigs before investing in cloud mining. I don't invest much in cloud mining, around 5000-7000$, and it can bring me some real bitcoins in case of inflation.
Not anyone here investing in a "verified" cloud mining platform? all are scammed??
Not anyone here investing in a "verified" cloud mining platform? all are scammed??
I doubt that buying is for everyone. At least people in some places from Africa don't have choice to buy bitcoin.
The possibility of buying bitcoin using a P2P source is always available as long as you have internet connectivity and a trusted seller to buy from. Now if you are lacking the bank balance to buy then it is your problem.Quote
Yes, and neither for mining. Not everyone can join bitcoin mining with rigs. But with the spread of cloud mining, it becomes easier.
Again this is incorrect. Cloud mining is a scam which is not properly understood by new entrants in this sector.All the legit mining locations have a system of giving out dividends to the people who own the rigs there. But this is not the case for all. 99% of the projects that you get on searching for cloud mining are not even having any rigs. They are running a ponzi where they pay the older investors with the money coming from the newer investors. Those contracts there are fake and used to scam everyone.
If you are willing to check if a cloud mining system really exists, do not trust but "Verify". Visit the location and check if they really exist. I can promise you that it wont be there or you would not be given a response when you ask about the same.
I thought that you have a farm and we know that not every cloud mining is a scam but basically, most of them are. If you are experienced investing to cloud mining, you're investing to the legitimate ones but AFAIK it's no longer profitable.
Looks like you know what you are talking and doing but just a suggestion, you should better keep more in bitcoin.
Looks like you know what you are talking and doing but just a suggestion, you should better keep more in bitcoin.
It's good to have an option and his choices is good but the one I doubt here is the word cloudmining since so far I don't find any reliable since as you said it's not profitable anymore which is right since actually it will give a low too in long period of time so basically you are wasting your time for just waiting for it to grow.
I'm curious how much he has invested which makes him confident that he's making with it. While buying, this is working perfectly to everybody.
I arrived in 2013 and even then mining made no sense to me.
I always felt the same way, but now I'm moving out to the Pacific Northwest east of the Cascades, where electricity costs 2-2.50¢/kWh! The winters are frigid there too, so I'm mulling over a home mining operation that recaptures heat.
I need to do a much deeper dive into the details, but at a glance, rates this low completely justify a mining operation -- especially when you factor in the potential heat subsidy.
I arrived in 2013 and even then mining made no sense to me. I guess at least there are established supplies of miners these days whereas most people got fucked with pre orders back then and missed out on profitable mining even if they eventually received their machine. Even so I still would never think of mining.
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.
Have you done any computations in order to know the exact gained amount in $ [involving all of the conversions]?I still keep on mining by myself to collect more bitcoins.
By the way, I don't have a farm, I just invest on cloud mining which most of the people here think it's a scam.
I believe that makes the subject field of this thread, invalid [to an extent].So welcome any of you to share your experiences of collecting more bitcoins. Persuade me
As a former miner [real mining], I prefer to buy nowadays.Not all of the cloud mining are scams.
I would like to see you post that comment in 2022 
Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
I will keep converting to bitcoin or bitcoin cash based on the rate. I'd like to hold both coins to reduce the risk. By the way, I don't have a farm, I just invest on cloud mining which most of the people here think it's a scam. I have to say you must investigate the platform before you do any investment. Not all of the cloud mining are scams.
Looks like you know what you are talking and doing but just a suggestion, you should better keep more in bitcoin.
It's good to have an option and his choices is good but the one I doubt here is the word cloudmining since so far I don't find any reliable since as you said it's not profitable anymore which is right since actually it will give a low too in long period of time so basically you are wasting your time for just waiting for it to grow.
this is a good questions, it depends on the country you are...
Mining requires thousands of dollars to buy a rig, a space that can handle the noise and see the electric fee if it worth it. nowadays the market is unstable and is too risky to invest on equipment, 1 of the examples is the ASIC with 1 algorithm, if the coin forks, then goodbye ASIC. it is really hard to get ROI because of the difficulty, so good luck with mining.
from the other hand, there are many ways to mine, also the type of coin, to what coin to convert and at what price, all depends on how you do it.
now investing is another story because it is based on knowledge & availability to cash out. if you are stupid enough to buy at high value and the coin start to crash, then you are not qualified to invest because you need to study the market with information and see the chart. not many countries support bitcoin so no companies or banks that let you cash out.
from what i learned from others, don't loose more than you can afford. investing is part of the risk, also is part of gambling.
Mining requires thousands of dollars to buy a rig, a space that can handle the noise and see the electric fee if it worth it. nowadays the market is unstable and is too risky to invest on equipment, 1 of the examples is the ASIC with 1 algorithm, if the coin forks, then goodbye ASIC. it is really hard to get ROI because of the difficulty, so good luck with mining.
from the other hand, there are many ways to mine, also the type of coin, to what coin to convert and at what price, all depends on how you do it.
now investing is another story because it is based on knowledge & availability to cash out. if you are stupid enough to buy at high value and the coin start to crash, then you are not qualified to invest because you need to study the market with information and see the chart. not many countries support bitcoin so no companies or banks that let you cash out.
from what i learned from others, don't loose more than you can afford. investing is part of the risk, also is part of gambling.
Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
I will keep converting to bitcoin or bitcoin cash based on the rate. I'd like to hold both coins to reduce the risk. By the way, I don't have a farm, I just invest on cloud mining which most of the people here think it's a scam. I have to say you must investigate the platform before you do any investment. Not all of the cloud mining are scams.
Looks like you know what you are talking and doing but just a suggestion, you should better keep more in bitcoin.
I prefer working for Bitcoin rather than buying or mining it. My reason is that I cannot afford to invest in a mining rig and Bitcoin mining is no more an individuals job. The second reason is volatility, I do not want to invest in Bitcoin and then repent if the pics slums down. I therefore earn Bitcoin by working for it.
At least, we can get bitcoin without buying. But I prefer to buy bitcoin than mining bitcoin because I don't have a low fee of electricity so that will cost me huge expenses in a day or a month. Gladly, if we buy bitcoin, we don't have to buy 1 bitcoin directly, but we can buy a fraction of bitcoin, and we adjust our money to buy how many satoshis we want.
That can help people if they prefer to buy bitcoin than mining bitcoin because they can use, for example, $10-100 to purchase bitcoin, and hold it or trade it with the coins. But if you have a low fee of electricity and you have money to buy the hardware, then yes, mining bitcoin will be recommended for you.
I prefer working for Bitcoin rather than buying or mining it. My reason is that I cannot afford to invest in a mining rig and Bitcoin mining is no more an individuals job. The second reason is volatility, I do not want to invest in Bitcoin and then repent if the pics slums down. I therefore earn Bitcoin by working for it.
I'm mining other coins and new coins but mining Bitcoin at this point of time is a waste of money because of the halving, in fact many miners are abandoning mining Bitcoin and now shifting new coins to mine, so I prefer buying it than mining it, and it's also the choice of the majority here.
If the choices option only that 2, then i will prefer buy it instead mining. If i can add another choice, i would rather earn it by doing some services or etc, instead of buy it.
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....
Which wallet do you use? Well, we have to stay away from it. Or maybe you lost your key?
Not everyone can mine it takes passion and knowledge for a guy to mine, whereas buying Bitcoin can be done by anyone, but this is 2020 where the difficulty is way to high you need expensive asic machine to mine, and with the coming halving many miners are going to give up because of the reduced rewards, I don't see why mining could be rewarding anymore.
You are right about that "it takes passion and knowledge to mine". But don't you think mining is a way that you can leave your coins there without doing anything and it can bring you rewards every day? Anyway I'm still not sure if mining is faster than buying. I need a calculation.
If the choices option only that 2, then i will prefer buy it instead mining. If i can add another choice, i would rather earn it by doing some services or etc, instead of buy it.
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....
Which wallet do you use?
Blockchain.infoWell, we have to stay away from it. Or maybe you lost your key?
No, i don't lose it at that time, i just stupid i didn't realize my pc got infected by malware (probably keylogger). Well its already 2 years ago. 
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
Not everyone can mine it takes passion and knowledge for a guy to mine, whereas buying Bitcoin can be done by anyone, but this is 2020 where the difficulty is way to high you need expensive asic machine to mine, and with the coming halving many miners are going to give up because of the reduced rewards, I don't see why mining could be rewarding anymore.
I didn't expected to see such question in 2020. I started my Bitcoin journey back in 2015 and it was already to late to do Bitcoin mining for regular people. Bitcoin mining requires huge investments and it doesn't brings big returns - it's for very few people these days
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.
That's a pretty good way to obtain BTC if you have good marketing channels. Maybe I can recommend a new project which you may be interested in.
Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
I will keep converting to bitcoin or bitcoin cash based on the rate. I'd like to hold both coins to reduce the risk. By the way, I don't have a farm, I just invest on cloud mining which most of the people here think it's a scam. I have to say you must investigate the platform before you do any investment. Not all of the cloud mining are scams.
I didn't expected to see such question in 2020. I started my Bitcoin journey back in 2015 and it was already to late to do Bitcoin mining for regular people. Bitcoin mining requires huge investments and it doesn't brings big returns - it's for very few people these days
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.
Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?
Buy bitcoin all the way and it is way more simple and less hassle compared to mining.Majority knows that mining isnt already feasible nowadays and thats a valid reason for you to avoid.
Setting up miners isnt a childs play yet lots of things should be arrange first before you can actually operate.Not only that, its costly when it comes to maintenance or whatsoever.
If you cant bare those struggles then buying would be the best option to take.
Setting up miners isnt a childs play yet lots of things should be arrange first before you can actually operate.Not only that, its costly when it comes to maintenance or whatsoever.
If you cant bare those struggles then buying would be the best option to take.
Buying bitcoin is more promising for individual investor, he just need to spend his money to buy bitcoin and store them and his wallet then he will be fine.
He just need to see the price movement and set target profit that he wanted in order to when the price is reach for his profit he can sell his bitcoin and take the profit.
But, I just confused to see what have to do when I have intention to mine bitcoin. Also, I should know for how much money that I must spend to buy some stuff to support for start bitcoin mining.
And as far as I know, to start mining at this time we need a lot of money to start. Indeed, if we see bitcoin halving event it may profitable because bitcoin price will be high later, but I have to know the less supply of bitcoin then there will be more difficult it is to mine.
He just need to see the price movement and set target profit that he wanted in order to when the price is reach for his profit he can sell his bitcoin and take the profit.
But, I just confused to see what have to do when I have intention to mine bitcoin. Also, I should know for how much money that I must spend to buy some stuff to support for start bitcoin mining.
And as far as I know, to start mining at this time we need a lot of money to start. Indeed, if we see bitcoin halving event it may profitable because bitcoin price will be high later, but I have to know the less supply of bitcoin then there will be more difficult it is to mine.
I prefer buying bitcoins rather than mining.
You can buy straight away when you want and no need any physical place to set up miners, no need expensive miners, no need anything.
Anyone can buy bitcoin but not everyone can mine it so more preferable will be buying.
You can buy straight away when you want and no need any physical place to set up miners, no need expensive miners, no need anything.
Anyone can buy bitcoin but not everyone can mine it so more preferable will be buying.
Mining- If you do have almost free electricity on your place and you are capable on buying those expensive miners but if these factors are abscent then better skip and avoid all the hassle by just simply
buying up coins but if its somehow part of yours on having interest on mining then go ahead but at least you do know on what are the primary things needed.
buying up coins but if its somehow part of yours on having interest on mining then go ahead but at least you do know on what are the primary things needed.
I doubt that buying is for everyone. At least people in some places from Africa don't have choice to buy bitcoin. Yes, and neither for mining. Not everyone can join bitcoin mining with rigs. But with the spread of cloud mining, it becomes easier.
The method that's going to be for most people is either buying or earning bitcoin. With cloud mining though? As if you could actually earn a good amount of bitcoin. You'd be very lucky with even gaining a break even amount of bitcoin with cloud mining. It's simply either a scam, or a very very bad investment.
I'll go to check if I have bought hashrates with 59 bitcoin cash in 2018, how much should I have earned so far. I will show you. I'm also curious about it.
With the current situation and difficulty, I prefer buying Bitcoin than mining it, the electricity cost and expensive mining rigs I don't think people will be attractive to mine Bitcoin now, but there are people who mine other coins and trade it to Bitcoin it's much preferable that way than going toBitcoin directly, there are many ways to gain Bitcoin but mining for me is not a good option.
so which situation is the best for you to choose mining? Or you just don't want to consider it anyway.
Buying is for everyone, it doesn't matter how little money you have, you can still buy a small portion of BTC. Mining, on the other hand, is not for everyone. Unless you live in a country where the electricity is dirt cheap and you have a decent amount of money to invest in hardware, you won't be able to do it. IMO, if you can mine and you're willing to hold, you should go for it regardless of the halving's outcome.
I doubt that buying is for everyone. At least people in some places from Africa don't have choice to buy bitcoin. Yes, and neither for mining. Not everyone can join bitcoin mining with rigs. But with the spread of cloud mining, it becomes easier.
Buying is for everyone, it doesn't matter how little money you have, you can still buy a small portion of BTC. Mining, on the other hand, is not for everyone. Unless you live in a country where the electricity is dirt cheap and you have a decent amount of money to invest in hardware, you won't be able to do it. IMO, if you can mine and you're willing to hold, you should go for it regardless of the halving's outcome.
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
With the current situation and difficulty, I prefer buying Bitcoin than mining it, the electricity cost and expensive mining rigs I don't think people will be attractive to mine Bitcoin now, but there are people who mine other coins and trade it to Bitcoin it's much preferable that way than going toBitcoin directly, there are many ways to gain Bitcoin but mining for me is not a good option.
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
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