Topic: Should I buy or mine Bitcoin? (Read 555 times)

There's a lot to learn on this topic, so I think this link will help. It compares Cloud Mining, Real Mining and actually buying Crypto directly. Hope it helps! 

https://steemit.com/crypto/@cryptos/cloud-mining-vs-real-mining-vs-buying-crypto-directly

I would just buy some bitcoin. Mining is complicated if you are just starting out. It requires a good amount of computing power and specialized hardware. I have never mined bitcoin, but it seems now that it's a lot more competitive than the early days. The top 5 mining companies control like 51% of the mining, so you along going up against them probably wouldn't go that great. These companies have massive computing power, with hundreds if not thousands of specialized hardware units. You can see videos of them on youtube. I would simply just buy.

You can do both, buy Bitcoin or other crypto coins or token if you have capital or according to your budget.

Then you can do mining along the way.... Just ask for tips on mining....

Just buy and hold, buy and hold )

Read alot man, bouth of these , buying and mining req. lots of reading if you don't want to lose your money .. cheers!

Buy it. Mining requires knowledge and involves risks and efforts. It's more fun mining, but you gotta know what you do, if you are wondering or not sure - definitely buy and hodl.
p.s. and don't even think about cloudmining cause you'll get burned.

It also depends on the affordability as well the expectation. With mining the user can get a sustained earning which is not possible with buying. While buying we purchase for the fiat that we have in hands. Later the price variation is the one that lets get some earning.

For me i rather choose to buy a bitcoin than to mining if you have a chance to buy. why? because its very easy to earn money even if you have a work or anything you need to do first. if you buy a bitcoin, maybe 2 or 3 months your bitcoin amount will get double or more. this is only my opinion. Read and learn about Bitcoin for the satisfaction of everyone. good day to all!

Buy bitcoin because mining will take a long time.

I suggest you to buy Bitcoin with your credit card because it is faster and much better than mining because you have to invest a lot of money in mining equipment to stay competitive with other mines.

You need a dedicated mining rig to mine BTC at an adequate speed. Otherwise it will take ages and wear down your hardware pretty fast (especially your fans if you use a notebook). So buy it.

But it is possible to buy mining capacities and farms will mine it for you. Isn't it?

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

Buy bitcoin with the money you will use to procure hardware and pay electricity in addition  with mining pools fees.  The amount you will generate from bitcoin  price increase in a year may be higher than mining.

Buy and trade your Bitcoins! Easy and fast money, I personally use Paxful.com because their system is fast and smooth

Buy BTC. after all mining is consume alot money, you need high grade computer, cost of high electric bills.

Buy btc.. Mining is inappropriate for newbies but if you have the time to learn go for both

I would recommend buying Bitcoin. The price is actually pretty good right now.

Mining has become really expensive for consumers because the hardware and electricity costs do not outweigh the profits from mining (Bitcoin fees). Bitcoin has raised the complexity over the years, making it more difficult to solve a transaction.

Have been there, trust me on this. Mining will result in less of a return than simply buying. I knew this but I mined anyway because it was fun mostly, and for a while it made some good coins which (only because I didn’t spend them) made the whole venture worthwhile in retrospect today.

It started with a few second hand miners from Ebay which were mostly quiet and still made a few dollars worth a day so were worthwhile, but then I made the mistake of buying the new release big miner. It cost thousands to buy, but it made pretty good coin so it was okay for about 6 months.

In the end the thousand dollar electricity bills, the constant very loud fan noise 24x7, and the daily diminishing returns, made it pointless continuing anyway, but then one day my big miner blew up due to a small amount of moisture and just like that it was all over.

If I had just bought coins not miners, I would have ended up with twice as many coins that is for sure. Even so, it was fun to mine for a while, and I am glad of the adventure regardless.

I agree to this. I am new with bitcoin, and i see a lot of thing in mining btc. In my opinion mining is for people who are knowledgeable in computer hardware and software, this is the primary information you should know if you want to build a mining rig.

You should buy it, exploit it is a very expensive and not always profitable for you 

Buy Bitcoins using Itunes Gift cards thru Paxful.com

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.

Buy it. Mining is not appropriate for newbies.

If you don't have a super computer don't bother trying to mine. What I am planning to do is buy BTC and watch if the BTC currency is dropping or growing when it is dropping you buy BTC and when it is growing you sell it and then just keep on playing around with the buying and selling of the BTC. Remember there will always be a buyer and a seller.

I am the beginner with Bitcoin and I know that there are great many ways to own Bitcoin such as buying, woking for jobs which pay by Bitcoin, trading orm mining but I am wondering  should I buy it or mine it?