What is a better way to acquire bitcoins?

Bonsaiav

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

Basically bitcoin's an item that has value, meaning the same thing as fiat money, so to get bitcoin we can do it in several ways for example:

Selling services / goods to other people both online and offline whose payment method can use bitcoin, according to the agreement between the two parties.
Anyone can accept bitcoin by bartering.
Buying, we can buy bitcoin through a broker for example the exchange of XCH4NGE (one of the exchange bitcoin service providers), this is the most ideal, fast and practical way to get bitcoin, besides there are other benefits of buying, namely the growth of bitcoin values caused by reducing the amount of bitcoin supply.
When viewed from its category, namely as a commodity asset, and can also be used as a trading instrument, I think this method should be done to get bitcoin, however given the risks which are so large, it's certainly a necessity for traders to understand the performance of bitcoin correctly because if not maybe we will experience loss.
Mining. I think this method's too complicated, expensive, and time-consuming to do because we're also required to treat it with extra care.

So, buying is the only best way.[/list]

haidil

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I think, this is back to each other, I prefer to buy and do this trade will be simpler. if you do mining, you will need very large costs and a lot of risks that will be obtained such as electricity and others

conanmori

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You should buy it since mining is way more expensive than before like you need to consider many factor and calculate it so you can still earn profit. The best way for me is buy and sell with it not a great profitter but can still gain some. But before you do this make sure you understand how trading works cause everyone make a big mistake here specially the new ones.

LimLims

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

IMO the best way to acquire bitcoin is buy buying or getting those coins from he exchanges.
I would suggest you that mining is not a great idea as it will cost you a lot and you need to make a huge investment in order to yield profit. Basically mining needs electricity and now it completely depends upon your electric charges in your country.
Also mining are for those people who are pretty rich already and have dedicated farms or servers with the sole purpose of mining the Holy Bitcoins.
You can also take part in bountys and can acquire little Bitcoins which i know is not much, but will be enough to understand the coin completely.

coolcoinz

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Mining is largely unavailable to a newbie at this point, unless that newbie has a significant fortune at his disposal, or is willing to go all in and sell his house or take a big loan. You can't simply invest 10k USD and start mining. I mean technically you can buy a bunch of second hand miners that are on the edge of profitability and keep going but it's a waste of time and money. Just buy coins from someone else or earn it.

FlightyPouch

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Quote from: rahmatullah9305 on March 16, 2019, 07:36:08 AM

Mining requires a lot of capital. do you have a lot of capital? if you can complement your mining equipment, start now. because mining is more profitable than buying bitcoin. it's better to do it according to your assets, but buying bitcoin is also good now.

These days, there are a lot of ways to earn your share of Bitcoin, especially on the internet. There are a lot of freelance jobs on the internet and you can just google them. A lot of things can be profitable now thanks to the internet, if you have the knowledge about investing, I guess that is the best way to get your share of Bitcoin now. Buying mining rigs will not be as profitable as in the past since there are a lot of miners now and they have those good miners opposing yours. Also, while the years are passing, mining Bitcoin is getting harder and harder so you should've considered buying a mining rig earlier in the year of 2012 to 2015.

sulendra12

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Quote from: aylabadia05 on March 16, 2019, 07:52:13 AM

my advice is that now buying bitcoin is better and the price of bitcoin in the future there is hope to rise again.

Not everyone have money that they can afford to invest on Bitcoin, you can't just invest $50 and wait till 10 years. Its not worth at all.

Quote from: aylabadia05 on March 16, 2019, 07:52:13 AM

mining isn't as easy as you think, mining requires a lot of money. but the profit is greater than bitcoin investment.

If you have expensive electricity cost, maintenance service etc. Then, you have to think twice before saying that. Mining isn't suitable for everyone.

sheenshane

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Quote from: Cekalt on March 16, 2019, 04:59:49 AM

Quote from: Windly on March 16, 2019, 04:54:25 AM

Mining would cost yoiu so much money and you need the skill of setting up, its easier just to buy bitcoin from an exchange and hold it for a profit

Agreed mining costs a lot in money to buy all the equipment so you would be better off putting that money into bitcoin.

Mining will not be able to promise you profit and returns for the investment you will invest in it. If you want to acquire bitcoins with mining, then that is definitely not a good idea. Buying bitcoin is the best option if you want to acquire bitcoin. But the cons will be, the market sometimes is so much volatile and will make you end up losing your whole asset from your wallet.

denzkilim

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Quote from: OmegaStarScream on March 16, 2019, 02:17:16 AM

For the average user, buying them would be the best and easiest way.

Mining requires a lot of investment as you can no longer mine with your computer and even then, it may not be profitable (depends on the electricity costs in your country).

That's correct, I am also planning to invest in mining rigs to mine Bitcoin and other kinds of Alternative Crypto Currencies but I postponed my plans because of the high electricity charges in my country and I also calculated it, and it seems that all of the profit that I will earn only goes to the electricity company lol. Cheesy

How I wish that I live in a country where the electricity bill is not a problem.

vv181

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When it comes to owning BItcoin, I split it into two parts, Buying it or earning it.

Buying it is when we convert our FIAT to Bitcoin when we do that it's more likely we see it as an investment instead of utilities. So does mining IMO, It requires electricity which in the end we required to pay it via FIAT. There is nothing wrong about it, but I don't in favor in it, because if we do that we just add some economic values/activities instead of growing the adoption parts.

In another hand, we could earn it by selling our labor/services for BItcoin. Which I do it right now using the signature campaign or online freelancing. It is way ahead instead of buying it because we basically don't need any FIAT/participating in the broken centralized economic system. Anyway, buying Bitcoin from any centralized exchange force us to make identity verification, which is exactly the opposite of the BItcoin features.

eaLiTy

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

The best possible way to acquire bitcoin is to start a business and start accepting bitcoin and you determine when to sell, since you considered investing in mining i said the above as you need a huge capital to invest in mining hardware to earn the desired profits as there is a lot of competition out there, investing at the current prices is the easiest way Tongue

. At the end of the day it all depends upon your bank balance on how you could do thing. Wink

adzino

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

Mining coins might not be profitable to you. You have to keep in your mind about the electricity cost, the cost of the mining riggs and the amount of time and money you would be spending behind maintenance. If you add up all the cost to mine, you might end up spending more money to mine a coin where as you could have easily bought one cheaper from the exchange.

gesdan

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mining bitcoin need a mining rig, if you dont have a proper mining rig, i think you can't get the big value of bitcoin on mining, and we know that mining is the investment, you can mining bitcoin until your rig broken. Buying bitcoin? i think buy bitcoin is the instant way if you want to get a bitcoin by buy with real money. it is totally different with mining

xWolfx

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Quote from: OgNasty on March 16, 2019, 02:36:42 AM

You could also try earning them by providing a service or selling goods for BTC.

This. If you feel like freelancing especially, then this is the way to go definitely. Some companies are already offering to pay the salary or part of the salary in Bitcoin but right now don't count on it with most companies you could work for.

I would that developing skills and exchanging your time using those skills for BTC and buying it are definitely the best honest ways of getting it. I am personally trying to develop more skills inside a really fucked up situation myself after a while of researching.

aylabadia05

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my advice is that now buying bitcoin is better and the price of bitcoin in the future there is hope to rise again.
mining isn't as easy as you think, mining requires a lot of money. but the profit is greater than bitcoin investment.

rahmatullah9305

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Mining requires a lot of capital. do you have a lot of capital? if you can complement your mining equipment, start now. because mining is more profitable than buying bitcoin. it's better to do it according to your assets, but buying bitcoin is also good now.

cfif123

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

the best way to get it is to have a healthy content forum and not to deviate from bitcoin content

GreatArkansas

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Quote from: Marcus55634 on March 16, 2019, 02:13:13 AM

As I understand, there are two ways to do this - mining bitcoins and buying them from exchange.

What are the pros and cons of each of these actions? And which would be a better way to acquire them?

Mining bitcoins are too expensive. Pros of buying bitcoins in exchanges is much better, specially when you don't have a lot of money then buying on exchange is much better. Mining bitcoins requires a lot of starting capital, you need also huge money to start mining and you will still consider if it is still profitable to mine bitcoin and the price of electricity in your area.

Lucius

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Marcus55634, mining comes into consideration only if you have a lot of money and a very cheap price of electricity. This is something that most ordinary users can not afford these days. However if you are interesting in mining there is forum board dedicated for that : Mining

The most effective way to get bitcoins is that you buy them, but for that you need money - since money does not grow on trees, you need to earn it in some way. If you have a job then just each month set aside some amount of money and buy bitcoins, and if you are too young for work but you have certain knowledge and skills you can offer them on this forum in this board : Services

kingpin4321

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You have a wrong perception of how to acquire bitcoin.
You are right about getting it through an exchange and getting it through mining.
But in addition to that it can be gotten through bounties, airdrops, faucet

Topic: What is a better way to acquire bitcoins? (Read 462 times)