Bitcoin Forum

What do you think guys is the best to do at the current market situation - are people better of mining cryptos rather than just buying them from market exchanges and wallets?

it depends on many things!
for trading (buying!) you have to be good at it. it is not a game to just buy and be sure you make profit. you need to know when to buy, and when to sell and what. the risk is high but the profit can also be very high if your timing is good enough.
and a decent amount of profit requires a decent amount of investment.

mining is not easy either. it is not like you can click a button and earn money from what you mine.
first thing you will notice about mining that will eat through your profit is the electricity cost. if you don't have a cheap electricity then forget about mining.
there are other issues too. such as the initial investment. you have to buy some good equipment. whether it is ASIC miners, or 1 or couple of good GPUs it will cost you a large amount of money.
then it is the problem with cooling and the sound which is the smallest issues.
but the other big issue is the fluctuations in price. the highly volatile nature of altcoins and the fact that they are pump and dumps can give you a huge profit or lead to a big loss.

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so do some research, visit the mining boards, read more about mining, the trading, watch the prices and the market and learn. then make an informed decision to which way to go.

You have three option: investing, trading, mining. With investing you invest for long term gain (6+months) and it is the safest option. With trading, I recommend swing trading. Always trade according to the trend. For mining you need some technical expertise, but might be the most risk-free method since you can sell the hardware anytime.

I haven’t checked different spaces or mining contracts for that matter. I believe that mining contracts may still be profitable but they pose different issues of possible fraud that I will cover in a different post.

There are no better options between mining or trading depend on the strategy trading and the strategy of mining, if we can make good prediction of the price and getting constant profit from trading, so trading is best choice and if we can find the profitable digital coins to be mined, mining is best option however between mining and trading there are risk to lose investment.

I go with buying.

It really depends on your wants and needs because if you just want a passive income then mining is good for you because you can earn money without doing anything except monitoring your rigs each day but if you want a bigger return but with a higher risk then investing in altcoin is the best. There is no best option because it is all about what people prefer for their income if either want bigger or stable returns.

i think i more prefer to choose altcoin than mining, because in altcoin you may leave it and work for the day also. you may also see it when you want but in mining it will cost so many electricity so that your bill will be huge.

I could suggest best is trading because i tried to do mining and based on the initial budget and power(electricity ) Consumption in my country it was making me to step back. trading is good the small thing is that transaction charge and fees for every altcoin purchase 0.25%.

The one that is most profitable for you. Do the math.

I invested a year ago and lost everything due to brain error :D

Now I bought hardware for a small mining rig (3x1070) and mine along.
I think it´s kinda fun to test everything out and optimize the efficiency.

Even tough I have high electricity cost, I hope I can make some profit.
The plan is to mine fresh coins and hold them long term maybe I´m lucky and one of them will become worth something.

Okay, the etherum hype is over and it may seem like a horrible timing to invest into hardware, but the next hype is around the corner
and until then my system will be ready to mine the shit out of that new hipster coin.

the easier choice is buying altcoins. because with mining you have to spend money (electricity and equipment) and spend time to mine and shorten the lifetime of your equipment while doing it, and all of it in hopes of a profitable operation.

with buying or better say trading, you buy instantly and if it goes wrong you can always save your profit with stop loss and get out. and just as fast switch to another one and another one and ... but you can't easily switch from one coin to another if it became unprofitable.

i think it is good to invest in alt coin. because i am doing it, you are the one who decides what will you gonna do so that you may choose what to do. in mining you need a high specs pc but mining is free, in investing you need to invest in coin. both needed a risk its up to you.

I think mining is much more interesting for me, you can learn much knowledge about this coins, how it works and meet many friends in this community.

Buying is the more profitable option for sure. The risks are roughly comparable depending on the size of your investment.

If you buy loads of hardware to mine and coins go to shit you might not even be able to pull in the electricity cost and thus make a loss even after reselling your hardware. Cases of substantial profits like the brief period from May to June are very rare and unreliable.

Of course, if you get lucky with mining a coin that will moon in the future, you would profit largely. But if you just bought the coin you would have more profits with no work involved.

Yes, mining makes you more engaged into what you do than investing in altcoins. But it need certain conditions and time, right? I suppose many people have jobs and other things they have to do, so mining would be a risky idea for them.  Plus, mining is also sort of an investment into altcoins, because you have to spend money of miners and electricity. To sum up, I prefer investment.

Buying is better. Mining costs electricity and the rewards are small. If you buy and hold for a decent amount of time, you'll come out way ahead vs what you could have mined. You just have to make sure you don't buy at too high a price. But if you're holding long-term anyway, that's not so much of an issue.

When buying mining stuff you have already invested in both mining and hardware.

Good thing is that people are selling these stuff and making a good profit(sometimes much better than mining). Honestly I'm not doing both of them at a time. I will invest into some highly established altcoins alone. Because in my understanding, mining will be requiring more capital compared to investing into altcoins.

Mining is good but this is not a good time to join the mining community because the GPU is very expensive right now. Wait for a big crash and newbies miners will sell all of their bitcoin. And then, we will collect cheap GPU to mine

Depends what you want to do.

If you are asking in terms of making money right away, definitely buying is the answer.  If you are asking because Cryptocurrencies interest you, and you want to really feel apart of it, and making money doesn't matter, then mining is the way to go.

If you choose to mine, you will need to put a lot of money up front, that you probably won't make back for at least 5-6 months.  Up shot is if the difficulty doesn't increase much in that time, you can continue to make more coins then you could have purchased right away.  The bad side, if you choose to mine, and another ASIC wave comes through (Next Gen ASIC's launch), you may not even make back what you originally purchased your mining rig for. 

Rather you play with crypto for awhile before jumping into mining. It's not an easy task and you have to mine if for several months to a year to yield ROI positive+.

If u havent any experience with mining than start with investing.

For me I'll take buying altcoin on real market is better than mining. After buy we only wait and see when the price comes up and sell it, but mining is needed hard work even we have equipment. Mining and buying has their own risk, we can take one or both as the way to get more profit. For me, buying altcoin for investment or trading is the best. Good luck.

I think it's better to buy. Indeed, mining has thought of mining products that certainty is big enough. But the longer will be more difficult and require a considerable cost. While buying altcoin more to a little certainty to get a big profit. But if we are more thorough and broader our knowledge and insight about altcoin. Did not rule out the results would be perfect.

Well, for fresh and new altcoins mine them probably the best choice because if those coins get listed on exchanges and pumped up by someone/bot you might be a millionaire but since most of new altcoins are shit and scam so be aware with them.

Buying altcoins can be called with trading, which is the popular way to earn.

I agree if you will be lucky and mine a coin which is not been listed yet inside big exchange and timing happen that after you have it and begin to trade you will be getting huge profits, things happen inside crypto business and many manipulators are involve to move such project better as well to find some project who do offer pre-sales so you will really get a high chance to earn big profits after.

Always buying.

If you are dedicated and having cheap electricity,.... mining may be better.
In general, buying is the best.

The best is actually to HODL.

Better buy coins and hold. If you have access to large amounts of very cheap or free electricity then you might be able to make a profit mining.

You are right that in most cases buying is better but I think mining some altcoin specially fresh new ones is a finer choice. It is better in terms of the capital you will use in buying some mining equipments since the funds would not only go to one cryptocurreny. If the coin you are mining grows, you will gain more than what you invested easier, and getting returns on your investment. If the coin you mined didn't got a good value to sell into, you can still choose another altcoin to mine for profit after all, you got the equipment and the only thing you will have to deal with is how to have cheap electricity.

I think it really depends on the stage of development the respective coin is at. Take ETH for instance. If you got into mining even at the beginning of 2017, you would be sitting pretty, but the difficulty of mining gets more and more difficult with the increase of users. Right now if you were to get into ETH, disregarding any plans they have to make the difficulty easier, then you would be investing quite a bit of money (500+) for basic hardware, and a very little profit margin. As others have mentioned the power costs are something to take into account as well.

Where it is more beneficial to mine is to get into the new coins that are in Proof of Work (PoW). For example, the Golem project is in the very early stages and we are close to a beta which would allow us to 'rent' our pc hardware similar to the mining structure of ETH. The ability to 'rent' or mine has unknown capabilities right now, but you can pretty much guarantee that it will get more difficult as it develops.

Essentially if you want to mine and have hardware, you should look into new coin projects and roll the dice to what you think will be the next BTC or ETH. Investing fiat currency into coins is the best option imo when the difficulty of mining gets to the point that electricity costs more than the value you are mining at the current price. Then again, a lot of miners like myself mine for the long term value. So you must ask yourself if you are looking for quick ROI or a long term ROI.

Hope this helps.

The best for your average Joe is HODL. For some people (with extensive trading/blockchain/statistics skills) trading the larger hypes and reversals is worth the time too. Daytrading is shit, too much time for too little.

Very few altcoins can be mined with small scale equipment, considering it one need to decide whether to buy altcoins and invest or just mine and invest whats been got. Compared to bitcoin mining, altcoins can be mined in a much easier as well in a very simple manner without much of power consumption.

It is up to you to know what income do you like. If you want a passive income go for mining. Because at mining you kust need to set it up and just wait for your bitcoins to bloom like a flower in your mining system and become a rich person. But if you want an active income, go for trading. But you just need to be literate about that. You need to attain trading literacy for you to be good at that

When you want to mine you need a large amount of money because you need a high specs computer peripherals and  parts. For me go to trading or buy alt coins it is more cheaper than it.

It depends on two things, money and abilities you have

If you have enough money, you can do mining, but mining is not as easy as anyone thinks, you have to have a way to make your electricity bill not high, the second option after hardware for mining you can use cloud mining, but the bad side you need a capital More and trust the money you will use to buy your cloud mining machine from a cloud mining provider.

The second if you do not have enough skills for trading, do not rush to do it, because it will only spend your money alone. Learn what is what is needed for trading, when you are absolutely sure to master it, then you start to trade. Your ability to trade is very important because the wrong calculation will also make you lose.

I'm more interested in choosing both. Mining and buying some then hold it is the best option to get profit. But with the current market conditions, it's better to hold some alt coin and wait until the price recover.

depends on the time and commitment, if you have free electricity and have interest in getting your own coins, you can mine. Trading tends to be more engaging than that. If you want to just hold coins for the future, buying is the best option.

Trading and mining, both require different skillset.

Doing a successful altcoin trading isn't easy. The crypto markets is fast paced, volatile and is full of shit and dead coins where some are even scams. You need to be good at chart reading and should be able to see the peaks and troughs as they develop. It is possible to earn money quickly here if you stay focused on the movement of many coins at the same time and keep moving your investment around. This will need time to get perfect at and patience is a key.

Now lets come to Altcoin mining. Altcoin mining, unlike Bitcoin mining (where electricity costs, funds availability, and mining hardware are all factors in determining if Bitcoin mining is worth it) simply requires funds and research. Mining is a long term investment. You pay for your hash rate in your chosen coin, then sit back and watch a small amount come back to you each day. Mining is less riskier than trading but profit are minimal. For better profit, mining coin at launch time can earn a good profit. But it is a lot riskier.

I would like to say that, if you want higher profit, can bear higher risk and good at analysis, you can go for trading. If you want little profit coming to you every day with less risk and have technical knowledge, then go for cloud mining (most probably in the first year of mining you would only be able to earn the initial investment you put into mining but can make profit in coming years).

That's up to the price , if the price is under mining cost, you should buy it from exchanges, if the price is higher than mining cost, you should mine it for sure.

mining is good but not better than trading.
In mining you can find very little returns where in trading it is not impossible to your make money double.

There’s an interest with mining though the competition for it is high so I wouldn’t begin mining any Altcoins. It doesn’t really matter if the coin is a new coin because there’s guys out there that wait for new coins then they mine the coins themselves or their team mine coins and they make a profit while they wait for another coin to get launched. I would just purchase coins so you could get more for your money.

Your choice.
But both needs capital. Good thing about buying is you could buy little by little without being forced.
With mining you will need a high amount of money for the expense of the equipment. You cant buy it one by one or you will be wasting a lot of time before you could install all of it and start mining. Then, you will have the problem with electricity bill.

With trading, there is risk which could make you broke in an instant.

First I thought that trading is better for me because I can handle it, unlike mining. I was trading on cex.io and it was ok, it is really good for beginners. Then I decided to try mining and surprisingly everything worked out. So it really depends on your willingness and effort. Probably you should try both to decide which option is more suitable for you.

Mining requires (in most of the cases) special hardware. To see which option is better you should take in consideration a lot of factors, such as electricity prices in your country and if you already own some of the hardware you will need.

Of course there are a lot of different currencies, some types of mining require less energy and hardware, such as with coins that use Proof of Stake instead of Proof of Work.

i think i will choose buying or i like to say trading, but in this case you should buy on cheap and sell on high price,,
you can choose one of many coin thats good for long term investments,,
mining is good too, but you need to buy mining equipment with huge price at this moment..

Looks like the question has been answered a few dozen times already; but there are a few coins you can mine with common hardware.  The trick is to find a coin early before the heavy hitters get into it, but you're likely to spend your hardware, time, and energy on a coin that doesn't go anywhere.  Not every coin is BTC.

I think mining is more effective rather than buy from market exchanges because i just spend some money (capital) for mining device at first Time, but if you buy from market exchanges you must spend your money more than once/ recur

each one can make you good profit, just choose the one you have more knowledge about.
trading could be a bigger win but need to have knowledge of market and possible growing of the coin you choose.
mining will provide you more predictible income. the problem it's  the time for a return on investement could be longer

I give you the diffeence between trading and mining but for me the best is trading if you have knowledge from it.

Trading - It is the best option for me but before doing this you need alot of knowledge about altcoins and bitcoins speculations it's just like gambling but more on knowledge and Researching is your weapon to be successful in trading you need alot of experience.

Mining - Mining is not easy too because you need to spend alot of money to buy good GPU and computer hardware because in mining you need a good specs of computer to be used to mine altcoins and bitcoins and you need to calculate the electricity that you need to pay monthly.
Earning bitcoins is not easy you need a knowledge but it's worth when you learn and you get alot of experience.

That's your own idea mate and for me I don't believe that mining ideas got higher profits rather than trading at market exchanges. In fact if you had bought a coin to trade like ethereum from previous days last July, and right now the price value really increased very promising. So if that insights would justify the means on what you've been saying against trading at markets,  I think you're wrong mate,  and that miners you had really costs a lot of energy; yet hardwares being used will generate higher maintenance cost which came to a point that everything will be break even or less profit gains.

That's a better choice in my opinion too. Mining is an expensive activity requiring you to invest a lots of money while it depends on your convenience and also the availability of funds that you have with which you can buy altcoins. So I would go with buying too.

I prefer buying altcoins than mining you were right its expensive more in mining. Before buying altcoins there is a need to do some research on what altcoins must to buy just to gain profit. We all know buying at low and at high price to earn profit but it is best with knowledge so we will know on what to do during trading.

Mining Is good .
But you just need to buy a good Quality of PC or System Unit With Many GPU.
so that you can Earn More.
While In Buying altcoins Just try to Investigate about Current Issues about them before buying
you might regret if it Breaks Down Price Real Quick.

Why choose ?

Try buying, trading AND mining. Yes, it will cost more but you will gain more knowledge which will pay you a profit in the future.

And if you mine, try to mine new coins before they get on an exchange.

It's best if you do both 50% of capital for mining and 50% for trading. Profit from mining is stable but trading is more profit.

For me if you can invest in the mining software you can do mining, but in doing the mining it is too expensive because if consume more on your electricity then if you do not have a money for the mining software you can do trading, in trading you can invest what you can invest you do not over invest. But in doing the trading and mining you have to study it first because if you do not know something you might lose what you have invested. For me the key for earning big is you have to study and be patient in earning big.

If a market like this is declining like Bearish then the two are also not choices.
If you buy Altcoins, the price will continue to decline.
If you mine, the price will continue to drop from the coins you mine.

But I hope that all prices will rise again quickly.

For me, I prefer the buying option. Personally I think that mining most of these altcoins are usually very stressful and might require a lot including time. So instead of going through all of that stress, and probably even not getting so much from it, I would rather just invest in the coin if I had money as at the time, or wait for a later time that I can.

But the longer will be more difficult and require a considerable cost. While buying altcoin more to a little certainty to get a big profit. But if we are more thorough and broader our knowledge and insight about altcoin. Did not rule out the results would be perfect.

Mining and buying altcoins are both great options to be honest, but if I'm to single one out and stick with that for the rest of my life, I would rather choose Buying and investing in altcoins. Reason is that I think that mining is actually more stressful and time consuming, also, you might have to spend a little too much, getting the software needed for the mining process.

Mining enthusiasts and coin buyers in the marketplace I think is someone's interest in finding or investing in crypto. but I think currently more people are buying coins in the market compared to mining because mining requires tools that I think can cost quite a lot

it depends, but mining is usually a lot slower way to acquiring coins (only if you don't have some sort of gigantic computerpark ofc!).
i think buying is the better way to quickly engage in this market

Trading , since mining is also profitable but we need to keep in mind very well with the perfect descion whether we should go with which particular coin mining and also we need to find out that whether your electricity costs is very high or low then your mined coins from.your miners and also you need to keep in your mind that the climate where you are living is better or not that remain in favour of the cryptocurrency mining hardware .
Here my recommendation for you is that don't always think that trading will not Result into profit because , trading is the principle way of making earnings in cryptourrency market , so better to do work in trading also with mining .
Both of them are risky but if you will keep patience then surely with time you will make profit .

I rather go buying altcoin than mining. Because lot of mining is scam today there are only legi but of 10 site only 2 is legit so its so hard to find legit mining

You dont need to bother yourself just select one or you can do on both selection just find the advantage and disadvantages of both.
In mining especially in BTC now,the difficulty became high on the other hand buying is also a good thing to do your capital might grow as coins value increases but it takes lot of time depending on the market's demand.I should say whatever you want you should do it now and don't waste time.

I think that given the current situation in the market, it is better to engage in mining. You can certainly buy, but you need to think very well before buying. After all, prices are now very unstable

Now mining is losing money, the cost of mining is higher than what you mine, so probably cheaper just to buy on the decline some coins and make profit on short positions.

with current market prices mining is also worthless. the income will not be balanced with the expenditure needed to do mining, such as electricity costs and hardware maintenance

I prefer to buy altcoins instead of mining, because I don't have advanced equipment to mine, I'm also more comfortable and easier to trade than mine.

Choose to mine or buy ALT depending on what you like. As stated by the members of this forum, I make sure that these two things are not easy, need the experience to get these profit

mining tools has depreciation value, and also if we mining coins there were operational cost monthly we should pay.meanwhile buying coins has own benefit , have no depreciation and operational costs.

Mining is the safest option but trading is much more profitable. All these things actually depend on many factors like hardware price, electric unit price, your trading skill, market trend etc. If you can take the risk then investing for long-term maybe be the most profitable option in crypto.

I believe that the acquisition of altcoyins is a much more promising topic than the mining it is due to the fact that the mining procedure is a very cumbersome process that requires investments, and there are various aspects and for which it is not profitable

Coin mining is a much more stable method of earning money than buying altcoin for investment. Exploit for me as a daily job at the company and at the end of the month you can get a fixed amount, as you still have to pay for electricity to be able to operate. Also buy altcoin as you are involved in similar investment in the stock market

mining now no longer pays,maybe only for that ones that have the energy at a very low price, now have to practice with trading

Mining Bitcoin is really a waste of my time, I’d rather buy from exchanges than mine it myself. Mining is not easy and you’re going to lose a lot of money which you’re not going to benefit from later, I’m saying this because that’s how it is where I live, miners don’t gain anything. So it’s best to buy the coins and store them in your wallet while you wait for the price of the coin to rise and you will make huge profit, especially when it gets pumped.

It is best to engage in both mining and trading. If you put a couple of rigs, their maintenance will not take much time, but it will give you opportunity to have some cryptocurrencies and better understand the mechanism of the blockchain. The rest of the time you can freely trade.

If you mine the crypto currency using POS technology, then you have already explicitly invested your money in this industry, if POW, then you need to go to the store and buy video cards.

Mining right now does not look very profitable because of the cost of mining can be high but it is always an option to consider since it is one that always gives you an endless supply of coins but buying is just as good. You still have to hold the coins just as long as you are holding the ones who you are getting from mining, but personally I would prefer to buy since I would not have the time to properly run a mining station

This depend on you and your target, like in mining you need some equipment to get going and the cost to run it while in trading is your funds and the better coin to choose and your income will depend on the capital you put in same also goes to mining but it require some technical aspects which is major thing to think of , but to me I think trading is cool and cool but if you have all it takes to mine too you can go in to the two all is to get more funds.

Both of them have nothing good, even if mine is also used up with electricity and VGA maintenance costs.
Then if you buy in the market, the price will go down, maybe it's better now to wait for Altcoins to rise again.

Byying Altcoins at this moment is better option as the cryptocurrencies are trading at lower side. Mining has a fixed amount of investment which can be started at anytime.

Now, Mininng is no longer good choice because the profit that it brings is approximate with the electric cost. So, you should use this money to buy Altcoins at this time. Because now there are so many good coins which are having good price to buy

in my opinion, buying Altcoin is a good option to generate substantial profits in the future. Altcoin's ability to continue to grow can make it a distinct advantage by having more profitable Altcoins in the future.

If i had to choose between mining and purchasing atlcoin, then at this point i'll choose to purchase on altcoin. cause mining takes a lot of fund to invest on, and also the price to do the maintenance isn't small.

I prefer to buy rather than mine, the coint price is now low you can buy it for investment, choose a potentially good coint, in this case you have to be smart in choosing a coint that is worthy of investment

Now mining is not as efficient as it was when the ASIC excavators were born. The coin has gradually moved from POW to POS. So, I think later mining will not bring much profit anymore.

Trading is better than Minning because it's now not going to make big profits, it will give us a loss because now the electricity costs and the results won't be big. and actually will lose

I prefer to buy altcoins rather than mining, because if we buy altcoin then we will be faster to get profit, but if we do mining then we need more time to get profit and the most important, capital for mining is huge because we have to spend at least $ 3000 to make mining tools.

Obviously, buying altcoins is better. But for the sake of experience, I really wanted to mine altcoins myself because I have a friend who started to mine last year and it seems very profitable. He just started to have 1 rig only, but it multiply like 10x so I'm sure that he is earning a lot so I just wanted to give it a try and see how it goes for me.  ;D

I will choose to buy Altcoins, which requires a lot of money to invest in mining!
And the income from investing in mining is very low. If you buy Altcoins, if you are lucky, you will have multiple benefits!

I agree. People choose where they can used small capital because that is what they afford. Mining need a hardware which is costly than when you just buy some coins on the market. You can have huge volume of the coin when the price is lower then increase afterwards which can give profit. Even me, I choose to buy coins instead of mining because I can buy the amount that I afford.

Why not do both as both are income streams in crypto?
I'm doing mining/staking, trading, bounty (translation and signature) & admin work for ICO's.

I'm still doing these today. I'm not rich yet but everything I do to accumulate more as the time passes will somehow get me to where I want to be.

Word of caution: make sure that you still have time for yourself and family. Take some crypto earnings from time to time and enjoy life.
No use accumulating all those crypto if you'll just end up in the hospital due to over crypto-work. Or you've strained relationship with friends or loved ones due to over crypto-work.

in my opinion, mining and buying altcoins have a big difference, especially in terms of money capital, and time needed. to be able to do mining, you need a very large capital cost, but if you buy altcoins, whatever your capital money can still be called an investment, and get a profit that is equivalent to the capital you spend

Both have its downside, though trading have some advantage if you have the skills which will qualify you to identify which coins to buy and make decent profits, while mining also have advantage in the long run if you are not leaning with the daily profits but you are aiming for long term hold, as alts/bitcoin value will bounce back and those save coins will have a good value after some time.

Both of them can indeed be run, in my opinion if you want to mine bitcoin you need a large amount of capital, and even then to return capital must take a long time, so it's better to buy coins that are falling in value, then sell when rising. You don't need a long time, and the capital returns quickly.

To some extent it is better to mine altcoins than buying them as mining come with little risk why buying has high risk.  I have never buy an altcoins that give me confidence as it price keeps going down day by days.  I think mining is important more than trading especially if you have little knowledge on both.

Actually, I think that investing in altcoins now is better than mining. Miners get fewer and fewer awards for their actions, and this business becomes not profitable. Additionally, the electricity and equipment are expensive.