Topic: Should I buy or mine Bitcoin? - page 2. (Read 532 times)

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i would buy currently. Down the track if you want to mine then go for it but cost wise your better off buying. you really need to way up setup costs, power consumption and ROI. the amount of money you spend you could have brought bitcoin with it. Don't let the fairy tale success story get in the way of actually making money.

I agree with those who say mining because it gives you a better understanding. Also it requires research so you might see bitcoin is one option among lots of other coins

I would highly recommand to go see some threads or site about mining " pools " and if it's profitable for exemple Ethereum mining will cost you 0.40$ per day and you'll make 2.48$. People says that it's expensive because it requires a good pc and good quality but you'll win twice as much as you paid or more over a year if you want to see more go see this site : https://www.cryptocompare.com/mining/calculator/eth?HashingPower=20&HashingUnit=MH%2Fs&PowerConsumption=140&CostPerkWh=0.12&MiningPoolFee=1.  Just try and compare, it's sure that buying is more awarding at the moment but in a longer-term sight mining is awarding too for some.

This remark .... I can't figure this out.

Success has nothing at all to do with starting anytime.

Example 1: Bob has a nice gaming machine, which has a 1080Ti. Bob can earn about $7 per day on NiceHash with this machine, or more realistically about $5 per day while he works and sleeps. Bob is not interested in putting "RL money" (as Bob sees it) into Crypto, so Bob should mine away - he's doing OK.

Example 2: Fred wants to spend $1000 either on a mining machine or on currency. Fred likes the thoughts of mining, because he's tech-inclined. But Fred realises that getting his $1000 back is going to take a lot of time, and in the meantime, he's missing all that lovely crypto-volatility, and ensuing profits/losses. Fred should probably buy, perhaps trade.

Example 3: Jeremy (I'm running out of names, dammit) has $5000 which he wants to invest. Jeremy believes in crypto as a long term fix for many real world issues. Jeremy has been a travel agent for 30 years, and this represents a fair amount of his free capital. He does not like trading. Jeremy should research his projects, then buy and hold.

Jeremy, Fred and Bob are not real people, and there are many layers in between these examples. All are valid, depending on what your gut, the market, and your personal belief tell you.

"Start from scratch for success".....nope. Nobody gave anyone a medal for reinventing the wheel.

Buy. Mining is rarely profitable.

for me it's better to mine than to buy because I want to start from scratch for success

I would rather advise you to buy Ethereum or some other promising cryptocurrency. I don't think Bitcoin will live long, because transactions are already very high, and people can use it just for large transactions. If you pay something small with Bitcoin, transaction fee can be bigger than the price you payed for small item.

Buy, I've been involved with cryptos going for two years. I like the idea to "make" your own money BUT the reality of running the hardware is extremely problematic and gave me alot of headaches.

Just buy and HODL - the best long term investment.

Definitely buy. Without hardware, computer and business background. You will have more bitcoins by just buying it rather than mining.

Buying would be the best for everyone since you can just do it with limited knowledge. Just have a thinking of buying when prices are low and selling when the value of bitcoin is high.

Mining is quite hard to do, you must have a very powerful computer to do it. Normal GPU now doesn't work well for mining. You must have a dedicated computer just to mine and that kind of computer can be expensive rather buying a computer why not just buy bitcoin. It is a lot easier.

It depends on the urgency and importance of your need for bitcoin. Mining might take time especially for newbies, then you might want to consider buying bitcoins.

Yeah but at that time mining was way easier than now. and less expensive. That's why we are all trying to convince op. But hey, if you at least have couple of thousands to invest in some hardware equipment you can try your luck.

i think buying is the best so far, mining consumes lots of energy

I recommend you buying bitcoin instead of mining it, its simple. But if you are interested about mining you can take a look over the Alternante Cryptocurencies  -> mining (Altcoins) threads where you'll get some informations about this way, which is less expensive to set up in this type of currency.

Buy. Here is a list of exchanges hope it's helpful: https://bitcoin.org/en/exchanges

For mining you must buy asic miner. this way profitable if btc price not growing fast for last year.

Bitcoin mining is very difficult now. GPU mining ended in early 2013 for bitcoin. You should only mine BTC if you do at least 100 hours of research - https://bitcointalk.org/index.php?board=14.0

Buying would be more advisable for now (even a really small amount), getting some skin in the game first will make you do more research around cryptocurrencies, and then you can go into mining which definitely requires more knowledge about the space. It also requires more capital..

I think buying is better for now, you need to be build rigs ,cooling systems for good mining operation but it could be very expensive if u re not experienced about these things.