Is it better to mine or buy Bitcoin? - page 13.

otandelapaz

full member

Activity: 518

Merit: 115

Quote from: QN2018 on February 02, 2018, 09:27:13 AM

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.

I really don't have any first hand experience on mining. But based on some articles I read and by the experience of others, buying is more profitable than mining.

But I understand that there are some companies that offer their mining systems to other so you don't really have to buy the physical equipment for mining. You don't literally buy Bitcoin, you simply pay them for their services.

Dava.Dina

full member

Activity: 296

Merit: 100

Now the Bitcoin mine is arguably no longer profitable, perhaps by buying Bitcoin which is now cheap and selling at a more favorable price

Bitcoin is the most popular coin not only that but also the higher value in Cryptocurrency.

If you want it to be easier, Bitcoin will buy the average they buy Bitcoin to double it by way of trading or the like.

rejekitiban

newbie

Activity: 65

Merit: 0

Quote from: QN2018 on February 02, 2018, 09:27:13 AM

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.

I prefer buy bitcoin than mining, in here very expensive to have mining , high price for electricity in my country

sandraonas

newbie

Activity: 27

Merit: 0

It depends on you goals and preference really.If you intend to invest long term and take your mind off it,you will be better off just buying it and storing in a good wallet.if you do not mind the stress of mining,then you are probably going to profit more buying your equipment and running your bitcoin farm.it cost about 1500 usd to produce 1btc

keziakusayang

full member

Activity: 434

Merit: 100

I think it's better to trade bitcoin at the moment. very profitable and also do not need too much money, I've tried it in the last few months and I got a lot of profits.

lzby2000

full member

Activity: 379

Merit: 100

At this stage, if not a lot of capital investment, mining is not easy to make money. It is necessary to know that the mining of miners now requires specialized miners, which are very expensive and need to have low power, which can only be superior to large mines. For some people who enter the world of encryption, of course, they are buying bitcoins directly, and they can buy bitcoins when they are going down sharply.

AlphaWolf

full member

Activity: 217

Merit: 120

Presale is live!

Mining is for the big players and requires huge amounts of money to be able to get a decent profit. If you aren't planning on going on such a large scale then you are better off just buying them on exchanges. As that is the easiest way to get bitcoins and is hassle free.

Shakreen

member

Activity: 80

Merit: 24

I agree with you to now mine bitcoin arguably no longer profitable, (can be profitable but old) maybe by buying in cheap price and selling in expensive price more favorably coupled with bitcoin price every year has increased and I hope this year can reach All Time High Grin

Zapto25

newbie

Activity: 146

Merit: 0

I suggest to buy rather than mine, much to bear if you are mining, such as paying for electricity, buying mining equipment, and there may be more to bear.

Angletim

newbie

Activity: 98

Merit: 0

Quote from: QN2018 on February 02, 2018, 09:27:13 AM

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.

Yes, you have to invest a lot of money to buy equipment to dig up bitcoin to get a lot of profit. But you also need a lot of money to buy bitcoins, and it's a big risk, because the price of bitcoin is not stable, and it's going to go down anytime soon.

slithero

copper member

Activity: 54

Merit: 0

Trading and holding is the best way to profit from Bitcoin

erwin_ibrahim

member

Activity: 472

Merit: 10

it's good we currently mined bitcoin because currently the bitcoin price does not match what we expect ... but if you want to buy bitcoin now wait until bitcoin price stepped on 3k...

callmeback

jr. member

Activity: 182

Merit: 2

Well it depends in you. If your happy to buy bitcoin now why not your free to do whatever you want because in the first place its your money spend it on everything you want and other is bitcoin is the most popular coin not only that but the higher value here in cryptocurrency. If want more easy to have bitcoin is by buying it average they buy bitcoin to double it by way of trading or the like. For me buying is the best solution to have bitcoin no need to prepare some things to have a bitcoin.

saruxanyan

member

Activity: 308

Merit: 10

I think that buying will be a profitable proposition, because how much zadra will necessarily go to purchase equipment, I have already come across this.

Prinox2

member

Activity: 182

Merit: 10

Is it better to mine or buy Bitcoin?
If you have the following advantages then it may be feasible to go into bitcoin mining.

1. Free or near-free electricity
2. Cool climate
3. Millions $USD in capital
4. Technical expertise
5. First access to the latest ASICs

If not, you are almost certainly better off just buying and holding BTC. If you are interested in mining cryptocurrencies, I would suggest you buy a GPU rig and mine altcoins. Most of them can be mined using GPU and you can mine whichever coin is the most profitable at the moment.

It is easier to buy Bitcoin than mine it.
In Bitcoin mining, if you purchase the hardware yourself:

You will have to pay for high electricity cost to run the hardware as well as cooling units.
There will be regular maintenance cost.
If you purchase an cloud mining scheme:

Chances are you would overestimate the number of Bitcoins you will earn through it.
Bitcoin mining profitability is not a linear function. It depends on number of factors:

Your contribution to total network hash rate
Current Difficulty, block reward and time
Your electricity and maintenance cost
Life period of the equipment or cloud mining scheme
Due to high complexity to mining for Bitcoin, I suggest small investors to buy Bitcoin directly instead of mining it.

gordeevaverona

member

Activity: 252

Merit: 10

I think that buying will be a profitable proposition, because the costs go only to the equipment and this will eventually pay off with the help of extraction.

lunnatic

sr. member

Activity: 1190

Merit: 250

COMBONetwork

Actually mine bitcoin is much better but to do that there are some things that need to be prepared and it is very expensive not to mention the costs to be incurred. If want more easy to have bitcoin is by buying it average they buy bitcoin to double it by way of trading or the like. For me buying is the best solution to have bitcoin no need to prepare some things to have a bitcoin.

ronsaldo

member

Activity: 217

Merit: 17

yes if you decision one of that that is good its good to be a holder of bitcoin and its good to tobe mine a bitcoin.

Gringoblin67

newbie

Activity: 104

Merit: 0

I think that as the difficulty gets higher, Bitcoin price needs to go higher as well for miners to remain profitable. For now, I think it would be better to hold Bitcoin rather than invest in mining.

s.mahmood

newbie

Activity: 294

Merit: 0

Mining is profitable too but for it need a large sceal capital, I think rather you buy bitcoin because now btc price is very low and if you hold for long tarm I think you would gain good profit.

Topic: Is it better to mine or buy Bitcoin? - page 13. (Read 2849 times)