Bitcoin Forum

that is the question....

Buying and mining that is my answer.

Why not both?

Less investment with buying. 

Nothing wrong with mining on your own hardware for a bit... until you realize it's not going to get you much :)

It's really too late to start mining, from what I read.  You can do the investment for the hardware, but really, the only thing that tells you that you will make your money back is butterfly's own calculator.

Try mining litecoins? Slightly more lucrative I think.

Definitely buying.

When you wanna get into mining you need an ASIC hardware, which is expensive.
It is very unlikely that you will ever break even, because ordering it now (from Avalon, Butterfly labs) you have to wait for months. And the network Hash Rate is drastically increasing making your investment less and less profitable every month. ASICMiner is the only company that delivers ASICs quickly, but again, their hardware is for professionals and you'll need some skill to set it up.

In my opinion the best solution (if you really want to get into mining) is to buy ASICMiner shares. You're getting profits from everything friedcat (company owner) mines with his 22 TH/s machines and you get your cut from every penny he makes on ASIC hardware sales, so you're not all dependent on his mining network percentage. Profits are divided equally on every share (there are 400,000 total shares, ~230,000 still belong to friedcat).

Why shares, not hardware?:
1. You don't need any professional skills.
2. You don't have to spend your time taking care of it.
3. Your money is liquid, you can sell your shares with a single click (and you can't do this with hardware).

Even though buying shares is a risky business, I believe it is fairly safe compared to investing into mining hardware not knowing how to deal with it.

And where you can buy shares?

If you had to ask, you cant afford it.

:P

Easy: what is cheaper!

Absolutely buying

Buying

both

here (https://btct.co/security/ASICMINER-PT) (or here (https://btct.co/security/TAT.ASICMINER) if you have a small budget).

I think buying some and mining the rest is best for you.

ITs easier and cheaper just to buy it -_-

But mining is more profitable sometimes....  :-\

Just choose what is moar profitable.

buy

trading shares seems confusing although it might be a more profitable investment than buying or getting into mining

Thank you!

np!

Buy

for your question buying At the moment. But for a love of god dont try to day trade shares unless you know what you are doing

both :)

Why not both?

Beacuse if you buy a 1300 dollars miner you make 10 dollars in 1 day. If you buy 1300 dollars of bitcoin you make 13 dollars in 1 day...13 > 10 so........

BUY

interesting topic. thanks for your replies.

I started checking out mining and it is fun. Kinda reminds me of when I was learning basic computer programming.

It is so tempting to want to by a new miner, but I will check out the share program first. Thanks

Why you make 13$ a day if you buy bitcoins for 1300$?

MfG

Past has shown that Buying/holding bitcoin is a much more profitable investment than mining bitcoins.

I've mined bitcoins in Spring of 2011 and what I was able to mine versus what I was able to buy (in terms of BTC) was more when I just bought it outright.

It depends, 2 days ago I made 60 dollars just because the BTC price raised.

Buying seems more practical at the moment in my opinion.

 mining

Why not both? Also. Must. Get. ASICs  ;D.

Lately I think buying makes more sense.

Buying.

If you want to make as much profit mining as from buying, you have to devote a lot of time setting up your machines, tracking what coins to mine, calculating profitability vs. electricity costs, trying to be first to market with your new pump n dump coins, etc. To make decent volumes you also have to make a large investment in machines outright.  In other words, it's not unlike having a 2nd job that pays as well as flipping burgers. :)

If you do it just for fun that's fine though, you can quit any time.

Buying, well all you have to do is buy some BTC on an exchange, wait for it to go up, 'save' it back to USD. Wait till it drops and do it again. If you're unfamiliar with day trading, don't do anything else, and I imagine you can get a 2% return every day for 10 minutes worth of work. Might not sound like a lot, but do it every day and you've doubled your money in 5 weeks. (Did I mention I'm not good at this stuff yet? :) )

That's just my humble opinion and I love to learn new stuff :)

buy ldo

Mining on conventional graphics cards is pretty useless now with the new miners coming out.
Graphics cards used to have the benefit of resale value - miners can ONLY be used for Bitcoins.

I think both....but mining without ASICs is crazy...hardly worth the time and effort

You can't really tell ... If you can get your hands on some ASIC miner, you should mine. Now.

i reckon buying

buying only, still learning to mine.

buying and selling ripples and alts.

buying of course!

Both is the best!

Both - but not much either way  :)

Both

It depends on your intentions. Mining helps the network become stronger, makes attacks more difficult, etc. Investing cash helps the market liquidity, makes the currency more useful.

Investing cash has the most risk since the market value could go to zero overnight, but it has the most potential for deflationary gains. Investing in hardware retains some residual value even if the coin goes to zero.

Buying bitcoin is better than mining it with GPU unlesss you have very cheap electricity

Buying unless you have an ASIC.