Topic: Is it better to mine or buy Bitcoin? - page 10. (Read 2870 times)
Just buying Bitcoins is always going to be better as you won't have to go through the hassle of setting up your own mining hardware. Also mining on a small scale isn't feasible and you are likely going to not gain much bitcoins that way. You can mine bitcoins as a hobby but I would recommend just buying them as a much better option.
Good to mine but the only problem if you want to have mining, will cost a lot. Remember when building a mine, what you need is a high specification computer, high cost mining rig, the internet is very fast and especially hope your electric bill will increase drastically. One of my mentors said that everyone can get this child dreaming of having a mining rig but it will take a long time to own a large mining farm. Start with one mining rig and your earnings will then be used again to install another. Remember to not engage in credit or loans just to build a mine without adequate and appropriate knowledge ..
That is right that we should just buy bitcoin rather than mining because if we will mine bitcoin then it will require a lot of money and you need to wait for a very long time in order to get a lot of bitcoins in your wallet while if you just buy at the low price then you will be getting more bitcoin rather than the possible amount of bitcoin that you can mine.
I personally think it would be better to invest in bitcoin rather than trying out mining. For mining you'll need to buy pc equipments which can be very costly. If you have money for investment, you should try investing it when it the price is low and then you can patiently hold. You won't need to do much work. The only thing you would have to do is observing the value regularly.
It really depend on your capacity, like right now its better to buy coz the prices are still low due to the red zone, but in countries where electricity is cheap, its better to mine
i think Bitcoin is only profitable if done at large scales. you must get expensive mining equipment and of course it consumes a lot of electricity monthly. Also it’s usually much more cost effective to buy Bitcoins with this money instead of using it to buy mining equipment.
no now i think its time to move on
The truth is I don't have my idea what is better between mining and buying Bitcoin.I think if you have money you can try them both and pick what is better.
I suggest you to buy bitcoin, as you can see bitcoin's price today is on the bearish trend and you can wait a little longer until the price rise
As for mining, if you have no good quality mining rig and extra cash to pay electricity bills then it's not a good option for you.
As for mining, if you have no good quality mining rig and extra cash to pay electricity bills then it's not a good option for you.
There is criteria, if you want long lasting future and secure stable earning then Mining is the best option for you
i think Bitcoin is only profitable if done at large scales. you must get expensive mining equipment and of course it consumes a lot of electricity monthly. Also it’s usually much more cost effective to buy Bitcoins with this money instead of using it to buy mining equipment.
Still this depends on the price and value of bitcoin. Mining can be profitable if you are doing it while the price is high because ultimately, you will get profit from its net income, but if the price is down especially if its down for a long time, you'll have trouble with your expenses like electricity.
Bitcoin mining is a good choice, but you need to choose a good time. For example, when the market is about to rise, the profit of mining will be a good income, but if it goes down, the mining income may be greater than the expenditure. , so you need to choose a good time is very important.
Both are expensive to invest with. Bitcoin mining computers are quite much expensive than directly buying bitcoins. I think it is better to choose to buy than to mine. But both are good investment. Maybe bitcoin miner may expensive in the first place, but i think the return on investment is good.When you do really need Bitcoin and have a goal - to get more BTC coins, it is better to use both ways. Naturally, it will need some initial investments. Additionally, you will start getting profit from mining only in a year or more.
Now a days the bitcoin buying is easy and it is good to do because for mining a lot of electricity cost will bear and in our country electricity is so expensive and bitcoin mining is increasing with the passage of time due to these expenses most of the people are now interested to buy bitcoin and hold for the future because the future is bright in crypto.
i think Bitcoin is only profitable if done at large scales. you must get expensive mining equipment and of course it consumes a lot of electricity monthly. Also it’s usually much more cost effective to buy Bitcoins with this money instead of using it to buy mining equipment.
Both are good to increase a large no of bitcoin. Actually it depend on person and what is his ability . mining is a big sector. So I personally prefer to buy bitcoin.
it depends on each person want to buy or mine, But I personally better buy bitcoin how it works simple and not difficult. If you buy bitcoin, it's only a matter of time we just buy at the price when bitcoin is down and sell it while going up there we will get profit.
For the short term, I recommend to buy bitcoin and hold it for several months to get profit. Mining requires considerable cost and sufficient skills to set mining rigs.
My brother has a good mining equipment and he is into mining. I am more an investor and I am holding...but I think you can make money from both
i think it is more its more convenient to buy bitcoin than mining. for in buying bitcoin, it would have a big possibility to acquire money when bitcoin value goes up. than mining which takes a lot of time.
Obviously, the best time to invest on bitcoins is when the price is decreasing and right now is the best time because the price is down to $6k dollar in the market and wait for its value to go back to normal in $10k in order to earn a huge amount of profit.
Bitcoin started the campaign through mining if you have the latest hardware with low electricity consumption and if you really want to know how to mine bitcoin then it is also a good start but setting up a mining rig is so expensive, and the return of your investment is also at risk or maybe you cannot mine enough coins to cover your investment in the rig you built. If you really want to get bitcoin fast i think it best to buy bitcoin or in other hand you can also join trading if you have the knowledge in trading cryptocurrency. Nowadays there are so many brokers that you can buy bitcoin and not only bitcoin other coins like ethereum and litecoin is already gaining popularity and value.
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