Bitcoin Forum

Which would you rather focus on?  Hardware mining? Cloud Mining? or Masternodes / Staking?

Pick one, and explain the reason for the type of mining

I vote for hardware mining, at first place. All those three have a risk each. And Masternodes / Staking at the second place. And I'll ignore Cloud Mining.

Hardware mining was having more risk than Masternodes / Staking, but we have a machine and also some coins as a mining result. We can sell the coins, even when coin price drop, and also we can sell our machine, except ASIC its resell value isn't good enough.

Masternodes / Staking also have a risk, when coin price drop, but still, we have some coin to sell.

Doing both above, we have something as an asset, and we have full control over it.

This post has some decent value that many others are missing when it comes to the three different types of coin generation.

I think I know why you've ignored cloud mining. Could you share the reason for it?

I was in cloud mining before; maybe this is the first cloud mining, cex.io at 2014. My reason at that time is, cex.io has owned one of biggest bitcoin mining pool at that time (Ghash.io). And we can trade our Hashrate directly to BTC at a cex.io market, so I not to worried.

A few cloud mining may be trustworthy enough, let's say Genesis that has operated for a long time. And a few have done a scam. My only reason to ignore cloud mining is, we have zero control over it. They can come and goes as they want.

agree m8. this fact has turned me off for cloud mining. You have to put trust into someone else's hands to deliver coins to you. Like you said perfectly, there is zero control. I think this fact, has turned me away. We are on the same page here.

I am involved in both mining and POS/MN! So far the MN/POS has been much, much better in terms of gains compared to the mining! But still, both are working quite fine for now, you won't make a mistake by doing it.
Just be careful what project you are gonna invest in, because lately there have been a lot of shitcoins, which are being left for dead after the MN presale! Invest wisely and do not rush it! Find yourself a nice project and a MN will bring you mad dough  :P

I've never tried Master Node (So, I haven't an idea, may I need to try it), but I experienced POS with Peercoin, a few years ago. Doing solo mining with Peercoin then I make every block reward that I receive as stake coin in my Peercoin wallet.

I prefer Hardware mining (GPU and CPU, no ASIC), because you can get the hardware and experience.
And whatever the future of blockchain, you still have some hardware.

Masternodes / Staking is not a bad choice, but i don't want to buy coin for this, just mine by myself.
It can let your HW mining get more coin.

Cloud Mining almost earn nothing, never mine back the coin you send.
At that expensive price you can buy  more coin, or build good GPU miner.

MN is very similar to POS

Right now, when crypto is still quite depressed, I would say that masternodes is the best of these because it is essentially a buy-and-hold strategy. You get the benefit of appreciation and "dividend" yields. Also - not to be discounted - a MN investment is always liquid, so you can exit the position if you need to much faster than HW mining (ebay) or cloud mining contracts (nothing). To clarify, I'm only talking about masternodes in high quality MN coins like DASH, PIVX, BitSend, Diamond, Crown, NAV. Right now there are so many ridiculous MN coins that will never ROI. If the coin goes to zero, you make very little. If it pops back up as Dash will and PIVX already is, then you do well.

I agree that MN has some future

Never go into Cloud mining. Its not many people who make it out of cloud with a profit. Except the people running the cloud service ofcourse  ;) ;).

I would do hardware mining, and then trade the coins i mined into a coin with a Masternode, have that running and continue to hardware mine = More coins = more profits = more lambos!

Exactly my thoughts! Cloud mining isnt profitable as soon as you  uy the contract! Best way is to directly invest in either rig or better yet- buy the dipped coins and start pos/mn!

Everything !!!!!!!! except Cloud Mining. Add Trading in to that,taking advantage of famous CRYPTO VOLATILITY by riding the waves.

Each seems to have it's purpose and the choice varies on Coin Fundamentals, Upfront Investment, Network Hashrate, Mining Difficulty.

Cloud Mining (assuming sites like Hashflare, Genesis Mining)
* Probably the least desirable and the most risky, but if you can get a cheap contract (lifetime one) then you good in terms of returns.

POS/MN
* Proof of Stake is easiest to setup technically
* Masternode can be a pain to get working.
* For me, you need to be able to get into the coin early to see real benefits, otherwise you're competing to maintain your "network weight" all the time.
* It also requires an investment front up.
* Another aspect that is very important is that MN/POS is not flexible because once you buy into the coin, you're stuck with it until you sell it. This as opposed to hardware (maybe cloud) mining where you still have a choice afterwards.

Hardware
* Hardware is the least risky of the three options.
* You can go the ASIC or the GPU route.
* You own the hardware asset in the end. This is an underrated aspect
* Requires investment, but this is less risky than a POS investment. GPUs can do gaming if crypto fails LOL.
* The yields on hardware mining vary depending on how deep you are in and the difficulty of the blockchain. Personally, I put it as higher than POS/MN generally (except Dash and maybe Linda)
* Hardware is most flexible as you can switch the coin you want to mine (even ASICS).

Rental Based Mining (not listed as an option, assuming sites like Nicehash)
* Slightly more risky than hardware mining because of its nature (sending someone coin to mine on your behalf)
* I think more expensive than Cloud and Hardware. Could be wrong.
* More flexible than cloud/POS because you have choice of rig (and therefore algo)
* Yields a nice return on new coins (early blockchain)

this is one of the most powerful posts ive seen yet about the topic. Thanks for sharing your thoughts.

What do more people think about this topic?

Cloud mining - to many * when ordering.... not worth it, you pay in advance, you don't own the hardware. But if NH you can get in one day than cloud mining a month...
Masternodes and Staking - these are good, as increase demand for them, usually driven price up. But on dips, you can't predict what happen with their price...
Hardware mining - gpu is the best as you can choose algo... but asics in 3 years will be the best choice, if more are making them...

Take a look at PGC [pegascoin]

PGC invented DOB 2.0 when you open a DAC per account with 50K coins. You open a DAC and receive daily rewards (its deposit + masternode  + staking feature, all in one).

ECO friendly - no need to keep anything open, you make dac and you can close wallet, no need of VPS or anything.

I think coins should focus on features like this, as more electricity is wasted. Unless solar :)

I believe people are leaning towards ECO friendly it is going to take some time tho

bump

what are your thoughts?

up

If you are bumping up this thread to advertise your service https://www.setupmasternodes.com just be open about it and start a thread about your service.

There is no need to obfuscate the purpose of the thread as though you were really interested in the opinions of others.

people need to talk about it

not many know

I hate to say it but Im pretty sure you just nailed it.

Maintaining serious masternodes also requires powerful equipment. Of course, this is not such a big power as for PoW mining. I think that in the future, the mining on the PoW algorithm will die due to the high power consumption.

this is much needed to discuss

Staking is the new kind in my opinion. Proof of work systems are very old, and they cost a lot. But proof of stake (nodes) doesn't really require much. I personally invested in a coin which will have masternodes in the future. I hope to earn monthly income with it.

If you are serious in mining, then just use the hardware as support facilities. This will be much more give the most but certainly also need sufficient facilities. I never tried the cloud and for the results that it is affordable so interesting and unsatisfactory.

mining is the cost of risk

Electricity is involved with mining and masternodes require a VPS, however, the cost is about 2x as less than the cost of electricity.

Focus...On... Cloud Mining ::)

Let's not do that - and hardware mining isn't really profitable unless you got some hydro-dam in your back yard.

Out of the 3 options I'd pick staking. EZ to do if you make an investment and just sit back and wait. Find a coin you think will moon-launch in like 1-2 years and stake your share of coins for the long run.

 

I choose the 4th option which is not in the list. Mining using purchase of hashrate nicehash or miningrigrentals because:
 -minimal risks.
 -income here and now.

It`s cloud mining, it`s on the list.


I`m staking few coins nothing big, I`m thinking to invest more in those coins I already staked, and I`m always looking for new coins for staking. I think its a nice way to have some passive income.
Nice thread anyways, its interesting to see what people prefer to do, mine or stake.

I prefer Masternodes / Staking as less expensive and the most efficient. Because Hardware mining requires a certain starting expenses for equipment and relatively high running cost for energy. But finally the profit depends from the price of mined coin on exchanges. So all these expenses may become as losses instead of profit expected if the price will drop down after then you have started mining. Regarding Cloud Mining, almost all projects those i have seen are scam, at least 90%. Let's say, they just use a tale about cloud mining in order to look legitimate, but indeed they are just ponzi schemes, no more, no less.

well, most professional miners will use mining hardware. because the results obtained are more optimal, and we can also take care of them. although there is a lot to think about, however, better hardware support will make a good income during mining.

But MN depends on your amount dude, if you are using small MN coin and then you get a few bucks only. As far as i know the only masternode that worh to invest just like dash and pivx. that needs a lot of amount to get decent money to become masternode.

indeed with hardware such as those built by several miners that can generate enormous profits and abroad that are already well known they use their own miners so they only think the cost of repairing hardware, internet, electricity and room temperature is different if in your country cold room temperature, you only need to think about the cost of the internet, electricity and repair of the device.

Your choice depends mainly on your existing resources.

Out of the four, staking is probably the more energy efficient and it can be done on most computers. Less technical people might also favor it.

More people need answers about masternodes

The prelaunch of Masternodes 101 can be helpful for most that are uncertain
https://www.dash.org/forum/threads/prelaunch-setup-masternodes-masternodes-101-ebook-guide.44511/

Although I build my mining rig, I still prefer staking because it's quite easy to operate generally.