Preferably, is investing parts of the funds into the mining industry. By investing in a fund, you have a few advantages.
Because,
1. Crypto coin mining is not as easy as it was once, there is still something good for the long terms investors.
2. The factors that influence on the profitability of the mining. These factors included the cost of hardware, hash rate, electricity rate, Bitcoin difficulty etc. So before going into the actual process, let first explore the factors that affect the bitcoin mining process.
Following are the main factors affecting the overall process of bitcoin mining and its profitability:
* Hash Rate
* Bitcoin Difficulty
* Coins Per Block
* Pool fees
* Power consumption, and
* Electricity Rate
Topic: To mine or invest? (Read 5090 times)
Hey, total newbie here looking to break into collecting coins lol
What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
it would be good if you study a trusted place of investment and also not.What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
trading investment, this may be the most effective way to get started or get bitcoin.
usually in this way often in the limit with the capital.
usually also you can find trading and do not need investment first.
both way have their own risk.
Mine you need invest a lot to start and only get return after about 6 - 8 months and depend on the market price too.
Invest small amount and you would start at anytime, jump in any waves. Some time lose some time big win. But this way will be nice to start firstly
Mine you need invest a lot to start and only get return after about 6 - 8 months and depend on the market price too.
Invest small amount and you would start at anytime, jump in any waves. Some time lose some time big win. But this way will be nice to start firstly
Hey, total newbie here looking to break into collecting coins lol
What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
Mining needs too much investment as well as stash and hardware in order to have a start up in this lean field. It would cost no less than 2500 - 10k USD to buy all the equipment you need to begin with mining during current days. Investing in Bitcoins will also be very expensive but it gives much better returns as well as possess less risks compared to mining where your electricity could cost higher or even cut off which will lessen the efficiency of your mining equipment.
This is kinda confusing because mining is also investing. Mining takes up capital for equipment and so you are also investing into those equipments expecting a return from mining activity.
But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
I think OP means that investing in other sites or mining, yes we all know that mining is form of investment but it would need to have huge capital unlike to invest in other site which has minimum amount of investment with corresponding percentage of interest.But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
For me both method is good to have but it will always depend on the capacity of one person and what is they really want to do.
This is kinda confusing because mining is also investing. Mining takes up capital for equipment and so you are also investing into those equipments expecting a return from mining activity.
But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
good thing explaining this fact mate because its really needed to informed people that mining is also investing not only with your equipment but also with your time, better to make sure that you understand it correctly before starting this venture, its an profitable investment but its really takes time and good knowledge before you can gain good earnings.But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
Therefore also you need low price of electricity, in that part in our country electricity is too much expensive so this is not applicable for me.
This is kinda confusing because mining is also investing. Mining takes up capital for equipment and so you are also investing into those equipments expecting a return from mining activity.
But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
good thing explaining this fact mate because its really needed to informed people that mining is also investing not only with your equipment but also with your time, better to make sure that you understand it correctly before starting this venture, its an profitable investment but its really takes time and good knowledge before you can gain good earnings. But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
This is kinda confusing because mining is also investing. Mining takes up capital for equipment and so you are also investing into those equipments expecting a return from mining activity.
But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
But if you mean by investing by buying Bitcoins, well that would be different. Wait until the market is down. Wait for the upcoming events this November to end because analysts say Bigcoin price will go down and go up again after this month.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
Well, I don't think so. Investing is more simple than setting up and maintaining mining rigs. However thing key here is to invest at the right moment.
With mining it's more difficult to learn, set up and maintain but you get stable and more predictable income.
You'd think so but I disagree. Investing is much more about luck compared to mining. Mining, eventually will pay itself off (granted you know what you're doing), whereas investing can burn you big time. Especially day trading. I like mining to be honest. I don't like day trading and speculating. I'm on my way to building my own mining farm. Which I've very much looking forward to. I like checking the machines and troubleshooting'em. There's something very comforting even about the noise ahahah.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
Well, I don't think so. Investing is more simple than setting up and maintaining mining rigs. However thing key here is to invest at the right moment.
With mining it's more difficult to learn, set up and maintain but you get stable and more predictable income.
You'd think so but I disagree. Investing is much more about luck compared to mining. Mining, eventually will pay itself off (granted you know what you're doing), whereas investing can burn you big time. Especially day trading. I like mining to be honest. I don't like day trading and speculating. I'm on my way to building my own mining farm. Which I've very much looking forward to. I like checking the machines and troubleshooting'em. There's something very comforting even about the noise ahahah.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
Well, I don't think so. Investing is more simple than setting up and maintaining mining rigs. However thing key here is to invest at the right moment.
With mining it's more difficult to learn, set up and maintain but you get stable and more predictable income.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
Well, I don't think so. Investing is more simple than setting up and maintaining mining rigs. However thing key here is to invest at the right moment.
With mining it's more difficult to learn, set up and maintain but you get stable and more predictable income.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
What if you've got a lot of capital to invest into mining. Let's say.. thousands. Would you go down the route of buying ASCI in bulk or GPUs? That, on top of investing, of course.
For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.
i think that investing is much more easier compared to mining if your a newbie in the world of crypto because in investing all you have to do is to buy that coins and hold it as long as you have a good capital but in mining you need to do a lot of technical stuff and research in order to get started and it also cost way too much compared to investing, so overall i wont recomend mining if your a newbie and dont understand much about how stuff works.
Building a rig to mine is already an investment. A China made decent miner costs around 2,000 USD and that is a considered investment. Investing or buying is liken into trading stocks. A proper knowledge and understanding would be fine and patience atleast to make it atop. So, if you have the money to spend in mining... Do so... it is up to you if you have the patience to engage in any both of the way possible.
Invest part of your surplus on cryptos with part in bitcoin and a part in the idea or mission you feel could grow or want to support. Don't jump all in as this is very fluctuating till now. Mining is not good as the hash rate are gone crazy.
For startups, it is best to first invest by accumulating your Bitcoin wealth little by little. Of course, you cannot do this in one instance because of Bitcoins' value now. But soon enough you will recover what you have poured in and so much more. As I have said earlier, buy Bitcoins and take advantage of losses - big or small - because it is when you are able to purchase more of it.
Better to invest. Not in any cloud mining. Just buy as many bitcoins as you can (or as much fractions of it), besides collecting free coins from available sources whenever you find time.
I agree with your supposition as of writing especially so that Bitcoins have so much potential in the market nowadays. Of course, my opinion on this varies and highly depends on the performance of Bitcoins. But just this time, I believe there is power in investing more on Bitcoins by buying when prices are failing because of its capability to skyrocket within a week or two. Thus, you are assured that your money's worth is returned back to you and so much more.
With POS becoming more common do you think mining is on a downward trend?
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