What do you prefer at this time, invest in mining rig or just buy bitcoin?

bloodyvio

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

It depends on you.
If you have a big budget then I suggest you to mining rig. otherwise, I suggest you buy bitcoin and do margin trading. mining rig is quite risky because of the bitcoin price factor that tends to fluctuate and it also will affect how long you get the ROI.

LuanX3

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I think it would be just best to buy bitcoins at this point since mining is just pretty much breaking even unless you convert the bitcoins you earn not on the day you earned them but in the farther future. So that means you have to pay for the miner's maintenance cost using your own money from your pocket. Which also mean that you are also investing for the cost of running the miners and you'll only reap the benefits after a long time when prices are quite a lot higher than when you started mining.

misterj

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I prefer buying bitcoin or altcoins because when I invest in bitcoin, the profit gain is low but secured because it is tested. While buying altcoins has greater risk but that means greater profit. If investing in mining is what you prefer or chose. The first thing required to it is having the money to buy the mining rig, means that you will need a capital to start of and second is you must find a pool where you surely have worthy profit since electricity is one of your liabilities.

sheamus10

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I think for second this option is very good, investment in bitcoin will be very easy but there is also a risk. but if investment in the rig minning we have to set up a plan mature such as the place, the cost and employees if necessary or maybe we do it ourselves.

SemvakDedelduel

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At this moment, i am still prefer buy bitcoin and trade it rather than invest to some hardware mining. Because, nowadays, most of hardware getting more expensive. In my country, electricity cost also become consideration if i start to investing mining hardware.

perrysaico

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I prefer buying bitcoin directly

... this is much more easy and convinient to do rather than
investing in hardware mining

akishang

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

Setting up a mining rig cost a lot now and there's also additional cost every month such as electricity bill. I prefer buying bitcoins, it is more convenient for me and instead of mining I'll use the money to buy cheap coins and sell it for a higher price later. A lot of miners now already shifted to investment, I have read that the mining business is not good nowadays. Also it is hard to find GPU/Videocard in our country. Maybe because of miners, hopefully they won't regret it later. I enjoyed setting up a RIG but not for mining. Grin

pugman

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

Neither. Altcoins are on the rise finally and investing in bitcoin won't be a good option as the price has been going down from the moment the fork got suspended. It would be better to make some short term trades with specific altcoins and quickly benefit from it.

Mining rig for bitcoin cash would be extremely profitable as bitcoin cash is of the latest trend now.

pearlmen

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As the difficulty in getting bitcoin increases by the day, its getting to the point where the mining of just one bitcoin is becoming impossie for an individual to achieve within a reasonable period of time and that's why its better to just buy because even the equipment that would be needed to get the little now will either become obsolete or diverted to mine other coin agiant from the initial reason why it was bought. The best is just to avoid it all together.

sumangs

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I go on buying bitcoin since mining cost a lot. It makes electricity bill cost more, you need an updated mining rig that cost more, cooling system that maintain the hash power that cost more. When will you get your profit with these mentioned above. Why do not buy some bitcoins and be patient.

desanti

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if I think it's better to buy bitcoin, because to mine a bitcoin will cost a lot.
so I think it's better to buy Bitcoin directly, because the cost of the mine is much greater than the purchase of bitcoin.
so I prefer to buy bitcoin.

gambitcoin53

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

Yes use it in buying for now, mining setup will cost you a lot, the profit turnout takes some period of time like 6 to 8 mos. Your money will sleep and you are not sure if your mining will profit or not. Invest in buying instead, less hassle than maintaining mining btc.

TheUltraElite

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

Buying a mining rig today is profitable if you mine some altcoin and then dump it in the exchange. Mining bitcoin is not profitable as it was like 5 years back and so I dont recommend it. Since bitcoin price has dipped it is a good time to buy bitcoin and hold it. BCH may be up but it is being pumped by the whales and it will soon crash.

Quote from: fanbeila on November 13, 2017, 01:01:39 AM

I would just decide to buy a bitcoin and stay cool as its price has tremendously increased in the past months.Before investing in mining,we have to consider lots of factors.Main factor is that we have to ensure cheap electricity.Otherwise,it would be useless to buy an ASIC miner and mine.It would be a total waste of time otherwise.

Electricity may be cheap but the mining ROI also depends on other factors. There are countries where electricity is cheap but they are not flourishing in the mining industry- why? because setting up a mining farm and the engineering costs are too much for them to incur.

Cinemo

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

I'm still a here so i dont know how to use mining yet but i prefer to use trade someday because as far as now im working in bounty campaign the it eill give me a soon if it success i dont want to buy bitcoin because theres a lot of campaign that will give btc if you work to them.

Shenzou

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Quote from: hasmukh_rawal on November 13, 2017, 01:32:04 AM

Yes buying Bitcoin will be better than mining Bitcoin as the difficulty has raised very much and the competition has become very tough for mining BTC. Besides that it also takes a lot of hardwork to maintain the equipments and electricity cost just eats up the whole profit. On the other hand trading is a lot easire than mining. It would be easy to just buy BTC and hold it to gain profit.

I agree buying bitcoin and just holding it waiting for the price to go up to make profit is a lot easier than just having to worry about mining equipments and electricity usage, when it comes to mining you need not only a constant high flow of electricity but also you have to upgrade your equipment each time the difficulty of the bitcoin is scaled up, I am not saying that it is not profitable, in some areas where electricity is chep people can make a decent profit, but it is much harder and more complicated than just a simple buy and sell and requires a lot of planning and research.

maydna

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

i think i prefer to use the money to directly buy bitcoin because if you decide to mining bitcoin then you need to thinking about many things like how much your electricity cost in daily or monthly, what kind of hardware you want to use, the hardware needs to be maintain and we need to take care our hardware so it will work properly. the big important question is the electricity because this is the main thing that we must use to start mining so if you can not determine how much the price you should pay then you might not makes a good profit in the end.

noorammak

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Bitcoin is fluctuating up again, and bitcoin cash is dropping, so this is the time we should buy bitcoin rather than mining bitcoin, because by using these fluctuation we can trade to earn profit and minimize risk, but using mining tools is still loosing profit because bitcoin they mined depends on the market.

hasmukh_rawal

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Yes buying Bitcoin will be better than mining Bitcoin as the difficulty has raised very much and the competition has become very tough for mining BTC. Besides that it also takes a lot of hardwork to maintain the equipments and electricity cost just eats up the whole profit. On the other hand trading is a lot easire than mining. It would be easy to just buy BTC and hold it to gain profit.

ranman09

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

Directly buy for me. Well this all depends on several things. This is what I look into;

1. Electricity bills, if you're in a country where electricity is really cheap well you can consider.. If not, better invest than sorry.
2. Countries weather condition, well I think you know that mining creates too much heat.. so putting up one in a hot country will degrade the rigs more. Or will cost you much more electricity.
3. And you can google some more Cheesy

Take also into account (though this Ive not yet calculated). Exchange rate in your county. this can help also I think.

irmasany

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Quote from: Raigeki. on November 12, 2017, 08:56:37 PM

We know the setup for mining a bitcoin will cost you a lot now, so do you think instead of buying a setup just use the fund to directly buy bitcoin?

everyone will be different. I prefer to invest, just hold it on the wallet.

there are times to trade and there are times only to be spectators.

Topic: What do you prefer at this time, invest in mining rig or just buy bitcoin? (Read 737 times)