What's the differ between mining and trading?

Z-tight

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Quote from: Agbe on June 14, 2023, 08:18:04 AM

In mining you don't loss coin only the amount of money you spend to buy the equipment, except that nothing more and if you a good miner you get the money within one month

A miner can run at a loss if they do not have enough hashrate, yet they are paying for expensive electricity, a miner has to ensure that their expenses would not exceed the possibility of the revenue they can make, that's why it is better to join a mining pool rather than solo mine when you do not have enough resources. A good or bad miner just depends on how much hashrate you or your pool can generate, that is what increases or lessens your chances of finding the next block.

Quote from: RewFrew on June 12, 2023, 03:29:16 PM

Bitcoin mining is not so easy right now and it is It's a matter of time for every block mine.

There is no end to BTC blocks, BTC transactions will always be confirmed and added into a block, what is going to stop is block rewards, and that is after every BTC has been mined; but that's not going to stop BTC mining because miners would start receiving incentive from transaction fees.

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

Of course there is a difference between mining and trading but in Bitcoin mining both miners and traders can earn Bitcoins. A miner needs to acquire sufficient knowledge of various types along with having the mining equipment to mine. A miner has to remember that mining is very expensive and difficult. Trading on the other hand is relatively easy. Anyone can trade with little money. Despite some differences, one thing they have similarity both want to make profit from mining or trading.

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before

Things have different levels of difficulty for everyone. The choice between to mine and to trade Bitcoins will be determined by many factors like location, what you find easy and others. For location, if you do not have a good location for mining, mining will not be easy for you because you need a safe space for the equipment, whereas you can just trade on your cell phone or personal computer that you can move around from one place to another. In a good location where many factors are met like good and affordable electricity, safety and wide space and others mining will be easier. The two which is trading and mining is to make money, decide the one you can do well after having some knowledge of the two.

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The difference is simple, in Bitcoin mining it is used by computers to solve mathematical problems and to verify the Bitcoin transaction it is added to the blockchain. And it is also used with powerful mining rigs, you also need to have a good place to put your mining rigs, as well as the maintenance should be ready there and so on.

Whereas in Trading it is simple Buy and Sell that requires you to have knowledge of reading its chart or graph in any exchange of Bitcoin or cryptocurrency and even other tools that can be used in carrying out trading activity so that you know where the direction of its price is, is it up or down based on technical or fundamental analysis.

Agbe

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

In Mining you spend a lot of money to set up the place or the mining plant. But it trading you only need the capital. In mining you don't loss coin only the amount of money you spend to buy the equipment, except that nothing more and if you a good miner you get the money within one month but in trading, you have to buy laptop or desktop or mobile phone plus the capital you will use to start the trading and if you don't know how to trade you loss everything at once. Though all of them Ave advantages and disadvantages but the disadvantages in trading is much more than of that of trading.

RewFrew

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Mining and Trading is fully different. There has no similar findings Between Mining nad trading. For mibing need a powerful computer but for trading no need thats kinds of computers. For trading need any kisnds of device which support any browser. Trading is happen through Buy and sell.

Mining depends on high configuration computer and it highly cost to mine. Bitcoin mining is not so easy right now and it is It's a matter of time for every block mine. But trading is too easy any kinds of device like computer, mobile etc is enough if possible download app like
Binance, kucoin etc. We can easily trafe in binance or any kinds of similar exchanger. If we want to trade direct login with browser it possible or if we want to download app and want to trade that's also possible. So i think there has many different Between mining and Trading.

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Quote from: safar1980 on May 22, 2023, 10:17:40 AM

Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

Trading allows you to be not tied to a certain place, and you can travel all the time if you are a successful trader. Mining is like your own production, which constantly requires your control every day of the year. You will be constantly busy with business, and do not think that mining is a passive income.

I can only add that trading is also an area where your money can grow quickly and also disappear quickly if you are careless and ignorant of the movements within the industry itself.

That's why it's still important that you have an idea for trading here in bitcoin or altcoins trading. Then bitcoin mining, I can only say that it is passive income if you do Bitcoin mining during a bear market. But if you are out of these periods and enter the bull run, your income here will not be the same as during the bear market when you earned bitcoin.

BitDane

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@OP, is not it obvious? Bitcoin mining is buying or renting a mining rig setting it, join a pool or solo mine to solve a block and get bitcoin as a reward while in trading you have to go to the exchange market, buy bitcoin and take advantage of the fluctuation to profit. It is more likely in mining you are competing to be the first one to solve the block and be rewarded with Bitcoin while in trading you are buying and selling bitcoin to get profit.

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

Mining and trading are different things and they have nothing common with each other. The mining requires one to have heavy processing equipment and it requires energy in order to operate. The mining Asics are power hungry and the user has to provide them enough power so they can mine Coins for the user. The mining is also a costly thing these days as the competition is very high in the field.

On the other hand trading is not power hungry, even with a simple smartphone you can do trading without any problem. These days the technology is so advanced that even with low processing power you can do trading easily. For example many people trade Bitcoin on Binance app and the app doesn't require much power to operate. A simple smartphone is enough to run the app, and there are many exchanges with such apps.

The mining is helpful for the Bitcoin network as with it the miners are adding new Bitcoins to the supply while trading is a good thing for investors as they can easily increase their capital with proper trading strategies. If you want a hassle free environment then trading is the best option for you, but if you want to add your contribution to the Bitcoin network then mining is of course the way to go.

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Trading is easier than mining if you have no money, you can start trading with small amount of money and you need a lot of money to start mining Bitcoin. You won't be able to travel around if you are a Bitcoin miner because mining is something that has everything to do with electricity and heat, such things always need monitoring.

Some people will say that mining Bitcoin brings better ROI but if you are a pro trader you will make bigger amount of money in a short period of time, a trader turned 1,500$ into 112000$ in two months of trading, that can never happen with Bitcoin mining, even if you solve a block on your own through SOLO it's still not comparable to using small amount to make big amount in trading.

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

Trading allows you to be not tied to a certain place, and you can travel all the time if you are a successful trader. Mining is like your own production, which constantly requires your control every day of the year. You will be constantly busy with business, and do not think that mining is a passive income.

Patrol69

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There are many differences between mining and trading. By mining we generally mean producing bitcoins and by trading we mean using bitcoins to increase bitcoins.

If mining is done properly then mining is more profitable but must be done properly and the production cost must be very low only then can mining be profitable. Many times it is seen that many people spend a lot of money while mining but in the end they don't succeed in mining and as a result they lose their entire money.

Again there is a possibility of profit in trading but there is no guarantee of money. As there is a possibility of increasing money by trading, there is a possibility of losing money if the market goes down. Mining trading is both profitable but we have to do it the right way.

dansus021

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Trading can do with a machine too, tho is called trading bot and there is dozen of example out there.

The Simply way difference between mining and trading are Mining is uses machine to generate more money basically you just buy some efficient miner from Manufacturer like Antminer or Avalon and then give em internet and power you will get return.

While trading is way to generate more money from volatility simply version when the price down you buy and when the price up you sell so you can get profit from different price rate. But you need lot of knowledge and skill rather than mining

bettercrypto

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

Mining and trading are different, they are not mutually exclusive, maybe only at the point where profit can be made. Then there is no cheap investment in mining, but it requires a large investment, while in trading, you can start with a large or small capital.

In addition to that, it is also necessary for mining to have knowledge of Bitcoin, it cannot be without it, then it is also necessary that you have constant monitoring in mining so that you can see what maintenance is needed, while in trading you need to have skills in understanding the chart and using tools that will not waste your trading activity.

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Quote from: FiveG on May 21, 2023, 01:27:02 PM

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

In simple terms

Look at mining in a more conventional way. Like mining gold. You will need tools, equipment and effort to discover and extract that gold from the earth. Once you get it, you can either stash it for the future or sell it off on the market for money.

Mining is more like a business you invest in for long term sustainability if things go well. But not everyone can afford the equipment or the patience to wait long term for return of investment. Here is where trading comes in. Even with your $500 or less, you can still try to trade and get some profit.

Please note that there is no guarantee of profits short or long term. Every form of investment is a risk and we always hope that with the risks we take, we get the reward in the end.

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In simple terms, mining means you are rendering service to the Bitcoin network and you get rewarded for that, regardless of what the DCA value and market volatilities and despite all of that, a miner will get his rewards for each block he mind.

Trading on the other hand is based on buying and selling of bitcoin and other assets on the exchange, with trading, there are two ways is. Either you lose or you gain and the thing is certain that you must have to invest money into trading and there is the possibility that you may lose your entire capital if you trade on the wrong stock.

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Mining and trading are completely different, but I believe you already know that.
Mining involves using powerful computers validate transactions on the blockchain network. This process requires a lot of energy and computing power. On the other hand, trading involves buying and selling cryptocurrency on an exchange, with the goal of making a profit. Trading relies on human strategies and market analysis. Both methods have their pros and cons, but trading is generally more convenient and accessible to beginners than mining.

FiveG

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I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

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