mine a Bitcoin or buy a bitcoin？ - page 2.

lousie9

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Quote from: bitzizzix on August 04, 2023, 02:41:42 AM

mining in my opinion, it's just a waste of your time, effort, money, electricity or sanity trying to do something highly technical and expensive that you don't understand.

Yes you're right, it's true that mining Bitcoin requires a lot of preparation in my opinion and operational costs are expensive, even now there are more scams in cloud mining.
I also think it's better to buy and hold it because it's simpler and less complicated to prepare and we don't have to think about operational costs in mining and maintenance costs and so on.
Mining or buying doesn't matter as long as we have to do what is in accordance with the conditions, abilities and knowledge we have. In my condition and knowledge I think it is more risky to mine than to buy and hold.

Litzki1990

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Buying Bitcoin at the right time is a better decision than mining Bitcoin. Bitcoin mining is not that easy, Bitcoin mining usually requires a lot of electricity. In addition to electricity, many other devices are required to mine Bitcoin. If the price of electricity is high and if there is no electricity all the time then Bitcoin mining can be loss making rather than profit making. Buying Bitcoins is more profitable than mining Bitcoins if you can wait and buy Bitcoins at the right time without mining them. I think buying bitcoins at the right time is a better way than mining bitcoins

Bitcoin_people

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There are two ways to acquire bitcoins one is mining and the other is investing money. Basically Bitcoin mining costs a lot but there are some mining that do not cost anything. But I think buying with bitcoin money is more convenient than mining and it costs less and is easier to do. But in order to mine bitcoins, there are many types of costs to be paid, then when the mining machine is turned on, the cost is constantly falling, and the amount of bitcoins to be mined is also specified. So buying and investing in bitcoins is beneficial and there is not much risk involved. It has been observed that when the price of Bitcoin falls, it suffers some losses but then compensates again. In that case we can easily buy bitcoins at lower cost than mining but mining is better but the cost increases a bit.

bitzizzix

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It's simple, if you want to have lots of bitcoins without effort and time, without very large capital, without thinking about maintenance and so on. It's better for you to buy bitcoins and you can also have lots of bitcoins by buying them regularly or carrying out the DCA strategy, and without worrying because you just sit back and wait for the price to rise even though it takes a long time because bitcoin is a promising long-term investment.
mining in my opinion, it's just a waste of your time, effort, money, electricity or sanity trying to do something highly technical and expensive that you don't understand. If there is something easier and cheaper because we can buy as many bitcoins as we can afford and in the long run we will have a lot of bitcoins if we do it regularly, why not choose to buy.

noormcs5

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Quote from: |MINER| on September 19, 2022, 12:40:19 PM

Buying bitcoin and Mining a bitcoin is completely different from each other , buy a bitcoin is part of trading where you need a fund for trade and on the others hand to do mining you need to set up a Rig and not only that it requires a lot of electricity. And the price of bitcoin is now over 19k it's mean a lot on the others hand You can build a setup for mining for less than 1 bitcoin but mining will be time consuming. Now try to see which one you can put effort into first.

Mining bitcoin BTC is no longer possible for an individual due to the increase in the difficulty and we need heavy equipment to mine bitcoins.

Buying bitcoin is the only option left with us and it is the more convenient option between the two. However, we should buy Bitcoin in the bear market or before the start of the bull run. Many people buy bitcoin in the bull run at high prices when the whales and investors are actually dumping them.

sesterceshop

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I think mining Bitcoin could be better than buying Bitcoin for several reasons. First, mining Bitcoin is more stable and predictable than buying Bitcoin. You don’t have to worry about the price fluctuations and market risks of Bitcoin. You can earn a steady income from your mining machine every day, as long as you have enough electricity and internet connection.

Second, mining Bitcoin is more rewarding and satisfying than buying Bitcoin. You can feel the joy of creating new bitcoins and contributing to the security and decentralization of the network. You can also learn more about the technology and innovation behind Bitcoin.

Third, mining Bitcoin is more cost-effective and profitable than buying Bitcoin. You don’t have to pay high fees and commissions to buy Bitcoin from exchanges or brokers. You can also take advantage of cloud mining services that offer low-cost and high-performance mining machines.

That's why I think mining is better because you can get more bitcoins for less money.

Kaliandra

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it seems that if you mine you have to have very large capital and you have to have a lot of knowledge, personally I prefer to just buy btc because I don't know much about mining, if you buy you just have to think about the strategy and the right time to buy it. because in my opinion the most important thing is to benefit from investing in btc, such as buying in a bear market and selling in a bull market.

Tony116

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Quote from: Daltonik on October 09, 2022, 02:47:20 AM

The choice between buying and mining, I do not consider cloud mining as mining, but as a risky investment and there are much more risks here than just investing in the purchase of bitcoin. And I believe that it is better to choose the purchase of bitcoin here, of course, just continuing to buy on the fall and this will compensate for your drawdowns. For mining itself, you need significant initial costs and even fixed costs for paying electricity bills, repairs, of course, unless you are an enthusiast and have enough funds to organize a large mining farm.

Mining can also be profitable but it will be difficult to hold in the beginning, with buy and hold you can start with any amount and we can accumulate over time. But to mine, you need a very large initial amount to buy mining equipment, operating costs, maintenance, repair... and depend on a lot of energy sources. If you live in an energy scarce and expensive country like Europe, mining these days will only make you a loss, not a profit, not to mention the bear market that causes the bitcoin price to plummet, mining will not be profitable and to sustain sometimes you need to spend a lot of money during this time. In my opinion, mining is more suitable for large-sized organizations and companies than individuals.

Daltonik

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The choice between buying and mining, I do not consider cloud mining as mining, but as a risky investment and there are much more risks here than just investing in the purchase of bitcoin. And I believe that it is better to choose the purchase of bitcoin here, of course, just continuing to buy on the fall and this will compensate for your drawdowns. For mining itself, you need significant initial costs and even fixed costs for paying electricity bills, repairs, of course, unless you are an enthusiast and have enough funds to organize a large mining farm.

len01

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actually it's not all that complicated. if you have enough money, you can make a machine to mine bitcoins and if you don't have much money you can buy bitcoins little by little and hold until you have a few bitcoins.
like me, i'm currently following a signature campaign that pays for bitcoin and when i get the bitcoins i collect them into a few bitcoins without selling them. and in the real world i also work in a company and the salary i get from work i buy bitcoins a few % to increase my assets in bitcoin.
i'm never afraid of losing the money i've made into bitcoin because my mind is bitcoin is the best money.

so the conclusion is mining bitcoin or buying bitcoin is the same, it's just different circumstances and ways

|MINER|

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Buying bitcoin and Mining a bitcoin is completely different from each other , buy a bitcoin is part of trading where you need a fund for trade and on the others hand to do mining you need to set up a Rig and not only that it requires a lot of electricity. And the price of bitcoin is now over 19k it's mean a lot on the others hand You can build a setup for mining for less than 1 bitcoin but mining will be time consuming. Now try to see which one you can put effort into first.

danadc

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I have been researching a lot, and I have read many threads about bitcoin mining, I have tried to get help on what is better to buy or mine, but I see that mining bitcoin is very difficult because it is not that profitable, I have seen that some people They mine bitcoin with small computers, with a laptop and they last 3 months, but when their mining is finished, they must quickly buy other PCs to continue mining, I have been about to do it because the mining machines are very expensive and I do not have enough money to buy, but competing against the big bitcoin miners is something that has no limits, I think the best thing is to buy bitcoin.

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Quote from: Jatiluhung on September 14, 2022, 04:15:11 PM

Quote from: tomos81 on September 13, 2022, 03:58:24 PM

If you want to buy bitcoins, you certainly can. Because its price is currently the lowest I can say that this is the Bitcoin to buy. Bitcoin price tends to increase a lot during Ananya period but Bitcoin price is very low during this period. Generally speaking, this is a good time to buy Bitcoin Bitcoin. The price of Bitcoin is currently very low so if you buy now the price will definitely increase and you can profit from it.

indeed the price of bitcoin is now very suitable for accumulation. I also have implemented a purchase order entry at a price of $ 20,000. and then in the $19k area. I am also interested in mining. but currently accumulating through purchases is more of my choice. because I can't mine yet. and i am not knowledgeable enough to run mining.

I also do the same thing with you, that buying is an easier way than mining, because of course mining requires a very large capital, using mining machines at least we have to compete, it's very complicated if we do it, with minimal knowledge, that's why I decided to focus on buying at some of the prices I had set and the lowest Bitcoin prices...

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Quote from: romero121 on September 15, 2022, 06:19:22 PM

Mining a bitcoin is a difficult task. Buying is quite simple, even the person with basic understanding about using a smartphone can use it with ease. For mining the user needs good technical knowledge and the source of energy with which everything runs. Above all is the capital without which setting up miners won't take place. For a common man buying is the right choice.

yes mate, there are two ways to own Bitcoins. It is relatively difficult, especially those who are ignorant about mining or who do not have the necessary instruments will not be able to mine. But it is very easy to collect bitcoins by purchasing but definitely there will need sufficient money.

I agree with the easy part. I mean I am one of those people who are ignorant on the part where mining is just way too advanced for me. Not in the way that you could buy some asic miners and plug them in and make them work, that part is easy but I am a bit of an ignorant person when it comes to problems with machines and that is why I am not dealing with anything that goes into repairing, and mining requires a bit of repairing when the time comes which is why it is not going to be that easy for me.

This means that we should be expecting something a little bit easier for us considering how we could simply just buy bitcoin and that would be the end of it, all we have to do is wait after that.

Jatiluhung

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Quote from: romero121 on September 15, 2022, 06:19:22 PM

Mining a bitcoin is a difficult task. Buying is quite simple, even the person with basic understanding about using a smartphone can use it with ease. For mining the user needs good technical knowledge and the source of energy with which everything runs. Above all is the capital without which setting up miners won't take place. For a common man buying is the right choice.

that's what i do. I don't know much about the technicalities of bitcoin mining. That's why I also prefer to buy bitcoins than mine them. because I know that I have not been able to mine at this time. because my knowledge about it is not enough. but to accumulate bitcoin through trading is quite easy to learn. but i'm little by little learn bitcoin mining and other things related to bitcoin. although there are many foreign terms that I have to learn. And it's not as easy as I thought.

romero121

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Mining a bitcoin is a difficult task. Buying is quite simple, even the person with basic understanding about using a smartphone can use it with ease. For mining the user needs good technical knowledge and the source of energy with which everything runs. Above all is the capital without which setting up miners won't take place. For a common man buying is the right choice.

8rch7

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Honestly, I myself feel confused when faced with the choice of mining or buying, of course if we buy bitcoin we don't need to drain our energy and we don't need to think about expensive electricity prices and all computer tools for mining, we only need money to buying bitcoins when prices are low, but the benefits we get from mining bitcoins are definitely very much different from what we buy, because if we mine bitcoins we certainly don't think too much about rising and falling prices, because the machine produces a consistent amount of btc every time ,because what we use is a mining machine,

Pierre 2

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I imagine this was very long term past question as there are so many miners right now that its nearly impossible to make huge gains over Bitcoin mining. Best option is to mine when it's cheaper so you can net so much more profits (like 3x) in future. But its not very different than buying and hodling. I feel like Bitcoin mining shouldn't be done by individuals right now unless you are desperate and you have free electricity tbh.

Raflesia

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Quote from: Lanatsa on September 14, 2022, 05:47:10 PM

Quote from: Raflesia on September 14, 2022, 05:35:39 PM

It is undeniable that this can indeed be true, regardless of anything mining must have sufficient finances in advance to buy the necessary tools and at least land and adequate electricity and internet in order to make a profit.
Talking about Cloud mining I agree because I've tried it and the conclusion is the same as you said.

Most of cloudmining are shit and scam and if there are legit ones then the ROI is way too long or even your contract wont be enough on having that break even with your investment thats why its never been worth

nor recommendable on doing so.I would rather buy bitcoin and hold it to save myself into those stress and all the hassle on doing things just like on mining.It is really not a cheap venture if you do really go into this

path which there are lots of factors need to be considered first before you would really be able to do mining and this wont guarantee out profits because it does vary with energy cost.

When I got to know bitcoin a few years ago I had tried this but it was because my expectations were too high that I was disappointed and left Cloudminning because this is just a waste of time and it turns out that I'm not the only one who has tried something like this because remembering from this thread alone there are a few people who have tried it.
Now I'm doing the same thing, I'd rather buy than mining. The reason is simple, I don't really like working with such tools even though it is profitable but I know my capacity and I still feel that I will not succeed in mining.

Lanatsa

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Quote from: Raflesia on September 14, 2022, 05:35:39 PM

Quote from: Davidvictorson on September 14, 2022, 12:10:40 PM

Well, I think that bitcoin mining is just for the wealthy. I'm referring to those who have access to, or are able to manage, their surroundings and resources, such as electricity supply, equipment for mining, a mining space etc. Despite the restriction on bitcoin in my country, I still find that P2P transactions are the simplest way to purchase bitcoin. I once tried cloud mining on my smartphone. It was a complete waste of time, data, and battery life.

It is undeniable that this can indeed be true, regardless of anything mining must have sufficient finances in advance to buy the necessary tools and at least land and adequate electricity and internet in order to make a profit.
Talking about Cloud mining I agree because I've tried it and the conclusion is the same as you said.

Most of cloudmining are shit and scam and if there are legit ones then the ROI is way too long or even your contract wont be enough on having that break even with your investment thats why its never been worth

nor recommendable on doing so.I would rather buy bitcoin and hold it to save myself into those stress and all the hassle on doing things just like on mining.It is really not a cheap venture if you do really go into this

path which there are lots of factors need to be considered first before you would really be able to do mining and this wont guarantee out profits because it does vary with energy cost.

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