Is it better to mine or buy Bitcoin? - page 4.

THATBTC

newbie

Activity: 98

Merit: 0

Quote from: QN2018 on February 02, 2018, 08:27:13 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.

Right now it's more easily buy, and with more instant benefit

Stromspirit

newbie

Activity: 126

Merit: 0

according to what I do I am an investor one of them bitcoin. with an increase in investment that I can I do bitcoin mining which I think is very useful to increase my investment despite the high cost. from all that I live I feel less in coins with other coins with it I enter the organization that discuss and chat all about bitcoin here by producing coins in bounties program.
So it would not hurt you to try all before the opportunity was lost.

fokinflor

jr. member

Activity: 116

Merit: 3

For mining you will have to invest in set up which will take one to two years to recover. On the other hand trading allows you to start earning from first day itself.

francesyrus

sr. member

Activity: 616

Merit: 251

Quote from: QN2018 on February 02, 2018, 08:27:13 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.

If you have funds to build a decent mining and the electricity cost in your country is not that expensive, mining is better but nowadays my friend stops mining because he only mine few btc now.

You can also buy bitcoin but you must wait for a bigger dip so that so can earn profit when it goes pump.

Both are now risky to do, on my side.

w5pn73

sr. member

Activity: 635

Merit: 251

Price swings can ruin your mining investment, I would always buy or trade unless I had real cheap hardware and electricity.

hachimon

newbie

Activity: 92

Merit: 0

Quote from: QN2018 on February 02, 2018, 08:27:13 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 I agree with you for now we better buy bitcoin than on mine. mining costs a lot to buy mining equipment such as ASIC and GPU. and also we have to pay a considerable electric bill. while mined bitcoins are not much and the price is currently down.

KXC247

jr. member

Activity: 294

Merit: 1

To go into mining, a lot of money has to be invested and it takes a lot of time to get the benefit.
But bitcoin buy can be expected better in less time.
So, I agree more about buying bitcoin than mining and think it's better.

fanita

full member

Activity: 230

Merit: 100

if I will do two two because it is equally beneficial for me, but all depends on you want to choose which to take precedence. the most important thing is to invest in buying bitcoin instead of buying a mining rig, because it can give us better returns and you can also use it to trade.

demsybtc

newbie

Activity: 72

Merit: 0

Quote from: QN2018 on February 02, 2018, 08:27:13 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.

Both of them has their uniqueness.
bitcoin mining is more profitable when it is on large scale.
However, given to the current condition of the market, I will suggest to go for buying Bitcoin.

ikiscream

full member

Activity: 205

Merit: 100

I think both are good. You have to get a good mining rig if you want to succeed in mining buy punu no problem especially with buying at a time when the price down it can be profitable when the day rises bitcoin, but I prefer to buy bitcoin rather than mine its mine need a large amount of electricity, internet, not to mention the device must be replaced it takes a lot of time unless you people who do not have solid community

IsabelCornd

newbie

Activity: 154

Merit: 0

Mining bitcoin is very difficult nowadays to be honest. Buying bitcoin is also bad idea because nothing happening with price for a long time. Better to stick with altcoins.

pubmongrelT

newbie

Activity: 64

Merit: 0

Cant compare because as for me i like both of them truely and similar. both of them has their uniqueness

sheldonnnn

sr. member

Activity: 420

Merit: 266

I guess if you’re looking at mining as a long term investment than perhaps it can generate you more coins in the long run but it’s also much more risky. First of all miners can break down, and even if you host them somewhere accidents do happens. Also there’s no way to know how high or low will the Bitcoin mining difficulty reach so numbers can change drastically. If you want an immediate winner than I’d definitely go with buying Bitcoins instead of mining them.

ninjaeth

newbie

Activity: 59

Merit: 0

I think bitcoin mining is profitable when it is on large scale that is not possible for everyone, so it is easy to buy bitcoin and hold it for good and long time profits.

MetalGear

sr. member

Activity: 714

Merit: 250

Quote from: QN2018 on February 02, 2018, 08:27:13 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.

You will know whether you are miner or a trader when you have try to do both of them. But to most of us, we are traders since mining came a little bit difficult for me to understand. But then if you are adventurous and knowledge-seeking, why not try mining if you have time and capital. You wouldn't know if its for you until you try to do it. In bitcoin, whatever you do, you are important because you are part of the community and you contribute to the welfare and growth of bitcoin.

mrsimons121

member

Activity: 182

Merit: 10

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.

Lalafell

sr. member

Activity: 812

Merit: 250

Quote from: QN2018 on February 02, 2018, 08:27:13 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 think both ways are effective and the only determiner for me is the efficiency of the person that will do the job. Our skills and capabilities will indicate which strategy will be more practical for us. These roles we play, bitcoin miner, trader, investor, and other names, don't really matter. Those are just labels but in the end, we will be rewarded by bitcoin because of our hardship and patience.

Bendz

newbie

Activity: 280

Merit: 0

Quote from: QN2018 on February 02, 2018, 08:27:13 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.

if i better buy bitcoin then hold it to get the excess. Indeed minning is a great way to get bitcoin, but for me it needs to learn more about how to mine it, and it seems like it takes a long time.

djsugar

sr. member

Activity: 686

Merit: 262

Mining used to be more profitable when price of bitcoin used to hover around 20k mark. But, given the current condition of the market, it is not advisable to set up a mining rig.
There are a lot of costs involved with mining. For starters, you need to get a high performance GPU, a very fast processor, lots of electricity and technical know-how. If you add all of these costs up then your cost would go significantly high.
The ones who are making money through mining are the ones who have set up their own mining farms and are doing it in bulk. Those people are really making a lot of money out of this.

al.nechiporuk

jr. member

Activity: 336

Merit: 1

The risk is that in the first, that in another. But in my opinion, now it's risky to buy equipment, it's better to invest.

Topic: Is it better to mine or buy Bitcoin? - page 4. (Read 2870 times)