mine a Bitcoin or buy a bitcoin？ - page 4.

yazher

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Quote from: Stella Mese on August 25, 2022, 07:36:37 PM

Of course, everyone's opinion is different, some want bitcoin from mining, some want bitcoin by buying. and both also have risks, but I myself prefer to buy to get bitcoin.

Mining when you have the necessary tools and place to do so or else if you don't want to have to learn technical things about mining, just be a holder by buying low and selling high, that's what most investors doing right now. Anyway, it may sound simple but still, you need to understand that buying at the right time requires some patience and investment with your time to see and read the past movement of the price of bitcoins, or else you will just gonna gamble with your money and giving it high percentage risk to be lost.

Devifajarina

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Mining also requires large capital, we have to prepare supporting equipment for mining, the laptops we have are not necessarily able to accommodate and if examined further, mining also requires sophisticated tools.
People can do any way to get bitcoin, but it must be ensured that we are in the right conditions. We can also invest Bitcoin quantitatively every day or only need to invest once to get long term returns. it's just a matter of strategy suitable for people to implement

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Quote from: darkangel11 on September 05, 2022, 02:58:23 AM

I say buy it!

By mining you take all the unnecessary risk. You are unable to sell faster if you need money, have to worry about hardware shipments, thieves, fires... You need to pay electric bills, need a lot of money to begin with because on top of miners and electricity you need a suitable location with good ventilation. Buying and holding is so much easier. Mining is for enthusiasts.

Agree with you, that buying is an easy thing, without us having to mine bitcoins, of course we have to work 24 hours, and not to mention the maintenance of all tools to keep them stable, if we buy we don't require to maintain mining equipment or maintain, just be quiet and monitor the price of bitcoin, that's why I prefer to buy rather than mine bitcoin, which requires a large capital of course...

Despite the fact that both can be profitable, mining requires us to handle more work, take more risks, and handle a larger amount of risk. If we just buy and hold with the money we have, then even if the market plummets, as long as we don't sell, we will never lose. But with mining it's not as simple as just buy and hold, if the market falls too deeply, bitcoin mining will face a lot of obstacles, you still have to spend the same amount for maintenance, operation, and electricity...while you have to sell bitcoins at a lower price to keep mining. Buying is still the better option, IMO.

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Quote from: Stable090 on September 05, 2022, 12:44:40 PM

Mining bitcoin is not easy and not everybody is capable of mining bitcoin anybody that those not have the capacity to mine bitcoin can easily buy bitcoin, just few people have the opportunity and capacity of mining bitcoin. Either you are buying or mining just have bitcoin in your wallet.

there are things lots to consider before doing some mining.

1. Energy cost
2. Location
3. Mining knowledge
4. Regulation
5. Mining rig cost

This is why i never touched up mining even there are times it do really give out some interest due into these reasons.
I dont like the hassle and im not really that too techy person on being good in setting up things.

wagmi

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As someone who is not a coder, we should of course buy a Bitcoin.
When we engage in Mining, we need special knowledge for running a Bitcoin Miner and we also need some time to get our initial investment into Mining equipment back.
Because we have to buy it first.
When we have a bought Bitcoin, we can have profits from Bitcoin price increases directly.

You should also know about hashrate.
Because hashrate is going up every time, mining is getting more efficient, when new miners have more hashrate and if we are normal miners, even when we are coders, we have to compete against professional and industrial miners.
It is very difficult to get an initial investment back from mining when we buy mining equipment.

Buy and HODL is much better

wagmi

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For me the biggest deterrent when choosing mining would be the risk of something going wrong. We all know the examples of bitcoin mining operations being destroyed by fires or raided by the police.
If you're able to dedicate 24 hours a day to your work and sleep next to your mining hardware like the Chinese do in those big farms, be my guest, mine. It's a great thing for enthusiasts who don't want a boring office work and prefer to set up miners instead.

wahyuagung26

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Both of these methods can be done, but what you need to know in each method has different risks, and actually both are good to do, but if you want to choose by mining the risk level is much higher than buying it , because on every platform not everything is true, there are many fraudulent platforms on some websites, but some are not Scam, if indeed you choose to mine you should study well and find out about a platform.

I myself prefer to buy it than you mine (not that I forbid you to mine), and if you want to buy look at the right time to do it.

Stable090

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Mining bitcoin is not easy and not everybody is capable of mining bitcoin anybody that those not have the capacity to mine bitcoin can easily buy bitcoin, just few people have the opportunity and capacity of mining bitcoin. Either you are buying or mining just have bitcoin in your wallet.

lucates

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Quote from: traderethereum on August 25, 2022, 10:48:17 PM

For now, mining bitcoin, even using hardware or cloud mining, is not recommended because the difficulty level of bitcoin is now very high and the latest hardware is needed to get a lot of rewards.
That's why it's better to buy bitcoin than mine because by buying bitcoin, we can immediately get bitcoin with varying prices.
Besides that, we don't need to spend much money and just wait for the price to increase again.
While waiting, we can also buy more bitcoins, especially if the price drops again.

More miners means faster transaction verifications and less fraud. Later, ASIC miners invented super powerful computers designed just for mining bitcoin. Since so many miners have joined in the past few years, it's still almost impossible to mine alone. To solve this problem, mining pools were invented. Groups of miners formed together to deal with the growing difficulty of bitcoin mining.
A person should invest a particular amount before starting mining because it needs technology. In my opinion a person should started buying bitcoin before mining.

dlightag

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The two process you just mention is real and working in difference platform of Bitcoin mining, but it take time and patients to keep mining to accumulate a res-enable amount of bitcoin before withdrawal which is normally name as how many Satoshi cashing out on the platform, Therefore, i prefer to buy bitcoin, which come quickly in profits base on the entry points, for a trader to make profits in spot trading or Future trading as the case maybe in the ecosystem.

darkangel11

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I say buy it!

By mining you take all the unnecessary risk. You are unable to sell faster if you need money, have to worry about hardware shipments, thieves, fires... You need to pay electric bills, need a lot of money to begin with because on top of miners and electricity you need a suitable location with good ventilation. Buying and holding is so much easier. Mining is for enthusiasts.

Piesel

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I have a different viewpoint from what others have mentioned here in the comments section haven't read through the comments, but I think we should pay more attention to motivation because in the long run that is what will fuel your patience. Both Bitcoin mining and buying are the most popular ways to own Bitcoin faster but there both require time most especially of your attention to owning the Bitcoin is for the asset's sake, for your investment to yield profits you need to wait for some time and that is why most people advocate for long term bitcoin holding, so one needs the motivation to be able to wait for a couple of years before expecting a result.

I will love to go into Bitcoin mining as I have been involved in the altcoin market since the beginning of the altcoin boom in 2016-2017, I believe with my level of motivation and experience I will be able to wait for some time to build my mining farm since am doing it for the excitement sake I want to test the journey and contribute my quarter to the Bitcoin network.

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Quote from: Rufsilf on September 01, 2022, 05:21:51 PM

It wasn't confusing anyway which one to choose. Just think about yourself and what you can really afford OP.
Think about that mining needs more capital to start a business like this, unlike just go buying Bitcoin because even with small amounts you can have it already. Well, even though you can really afford to put up mining machines due to mining competition, It is really preferred to just invest and hold, it was no hassles on our ends and we can still make another business.

The process of mining bitcoins becomes more challenging if you live in a country that does not consider bitcoin to be legal, or if your country has high energy costs that make mining difficult. Buying and holding are easier, we can do it anywhere and anytime as long as we have a need. You cannot mine bitcoins in a country that bans bitcoin but you can buy bitcoin there one way or another.

Mining is not always profitable, if bitcoin plummets then you will incur some loss in energy costs, daily maintenance...Meanwhile, if bitcoin plummets, it is an opportunity for holders, the lower the price, the higher the profit opportunity.

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Quote from: PX-Z on August 29, 2022, 09:54:13 AM

Investment wise, i'll go buying. Mining will take years before you reach your ROI.

Those user who chose mining should have enough reasons not just simply, "to have profit in the long run", "help blockchain network", "learn technicals", etc. We're talking money and investments, simply a business.
There are lots of consideration to mine bitcoin. Location, hardwares ^{(including installations and maintenance)}, electricity, man power, running a business regulation/requirements, lastly a huge sum of capital. Now if you have it all and have easy access to them, then that's a good choice to go mining.

I am very interested in mining, but I know that in bitcoin I have no hope, because I would compete with the great titans, and obviously I will not have decent profits, but in altcoin mining I can think of something that can be revived , I have seen that high prices are low, this is the ideal time to start this exercise, what I lack is the money to be able to buy the machines, I have weighed in one available to be able to mine ETH, but bitcoin is what It is more interesting to me, I have thought about buying small laptops to be able to use them as bitcoin miners, and some miners do it, the laptops last 3 months and then they are damaged, but I have studied the way to see if it is profitable.

samuraijin

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Two independent ways to get bitcoin, but if you have so much money then it never hurts to try to make bitcoin mining, no matter how small it is at least making results, but in short you can buy bitcoin without having to mine it and buy mining tools that cost millions of dollars, but most people prefer to buy rather than have to mine to buy bitcoin mining tools, and require a large enough capital...

TheGreatPython

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Quote from: Awwal08 on September 03, 2022, 03:15:52 AM

These are, in my opinion, the two independent ways to obtain bitcoin. Depending on how you want to get it, you have two options. If I were to give advice, I would recommend to only buy if you have funds you are willing to risk or can afford to lose. If there is no money, mining will require patience. You can choose between buying or mining; both options are valid.

When you mine a bitcoin you will also agree about the risk because mining a bitcoin is not easy. It's either you can earn more or you can lose more money in the process but before we get there, you must also have a good capital since bitcoin mining hardwares are not cheap. This is not an example of investing what you can only afford to lose but buying directly a bitcoin is, because you can lower the quantity according to your own capacity.

If there is no money available then you can't do both mining and buying a btc but there are still many ways to acquire a bitcoin for free and the only capital that you will be needing is your time and skill.

boyptc

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Quote from: n0ne on September 02, 2022, 06:46:35 PM

Quote from: boyptc on September 02, 2022, 06:44:02 PM

Quote from: mich on September 02, 2022, 01:48:49 AM

When we consider the cost of the mining like hardware and electricity and also the risk factor it is better to just buy 1 coin if you are Bullish like I am and suspect the 'Bear market' will be over in less then 2 years.

Buying is effortless and better.

If you don't intend to be a miner then you don't have to mine and make an effort of building everything. Just buy and hold it on however long you want it to hold.

The goal is to have at least 1 BTC before another unexpected huge bull run comes.

It is based on one's financial strength, because buying bitcoin during this bear market seems to be fair than spending on mining equipments. As the above mate suggested, rather than being a miner just buying and holding will bring assured profit long term and there is no need of unwanted pressure handling the maintenance and other power issues associated while mining.

It is fair at all times as long as you have it planned and you have money ready to purchase bitcoin.

No offense but those who like to be miners, there's a different sensation of being one. There's the achievement that you can feel for being one of the validators in the network.

You're helping the network and at the same time you earn from it. Well, the biggest ones are those who have invested heavily with the equipment and maybe you'll feel that feeling too if you become one.

Awwal08

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These are, in my opinion, the two independent ways to obtain bitcoin. Depending on how you want to get it, you have two options. If I were to give advice, I would recommend to only buy if you have funds you are willing to risk or can afford to lose. If there is no money, mining will require patience. You can choose between buying or mining; both options are valid.

bestcoins1

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Quote from: Stella Mese on September 03, 2022, 01:11:09 AM

your thoughts are the same as mine,,, I agree with what you think, because mining requires capital, so in my opinion it is better to buy bitcoins than mining, but people who mine bitcoins are also people who are meritorious because of our mining so can buy bitcoin. so mining or buying is the same.

If I actually think of it a little differently because mining sometimes requires a large capital initially so that it can generate more Bitcoins, whereas buying instantly does not require large capital at first. Because everyone can buy with the capital they have and it doesn't have to be big right away, although the goal is almost the same, namely getting more Bitcoin through the market. But this is a slightly different thing to do because mining requires a special design of the device, whereas buying only requires a market to visit.

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Quote from: n0ne on September 02, 2022, 06:46:35 PM

Quote from: boyptc on September 02, 2022, 06:44:02 PM

Quote from: mich on September 02, 2022, 01:48:49 AM

When we consider the cost of the mining like hardware and electricity and also the risk factor it is better to just buy 1 coin if you are Bullish like I am and suspect the 'Bear market' will be over in less then 2 years.

Buying is effortless and better.

If you don't intend to be a miner then you don't have to mine and make an effort of building everything. Just buy and hold it on however long you want it to hold.

The goal is to have at least 1 BTC before another unexpected huge bull run comes.

It is based on one's financial strength, because buying bitcoin during this bear market seems to be fair than spending on mining equipments. As the above mate suggested, rather than being a miner just buying and holding will bring assured profit long term and there is no need of unwanted pressure handling the maintenance and other power issues associated while mining.

Bitcoin profits can indeed be bought not in full quantities, so we can buy according to our ability and then hold it until the bullish season comes. on the other hand, by mining, we also spend a lot of capital on the other hand with the amount of electricity used where we pay according to fiat money, so when bitcoin experiences a big correction like today we will have trouble with operational problems every month. that's why I prefer to buy and hold it

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