Bitcoin Forum

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

This question is probably as old as Bitcoin itself. IMO buy bitcoin, not mining gear.
Cons of mining:
You need cheap power
You need to put in work to set it all up, wire it properly, keep the miner running 24/7
You need a place where noise won't be an issue. Miners are quite noisy.
You need a safe place, where nobody will steal the hardware or tamper with it, which means no access for kids, thieves and animals.
Mining gear can break and nobody will give you warranty.
You need to wait for shipment. If you choose a new miner, it can even be months.

Not worth it unless you are have your own power plant, or know someone who can provide you with free power.

I thought about it some time ago but I saw that it is easier and with less headaches to simply buy. If you add to that the rising energy prices, in an exaggerated way lately, you will get the answer.

For me, buying Bitcoin is a better option than mining Bitcoin. It's because electricity is costly and Bitcoin is illegal in my jurisdiction. But I can accumulate Bitcoin and take advantage of the price volatility. So it fully depends on your situation and jurisdiction as well. We can't suggest without proper knowledge about your jurisdiction and electricity price.

With 40k I might choose to buy bitcoin outright and hold it. Faced with these two options, we are only talking about the belief that the price of BTC will increase someday. If you buy bitcoin, your only risk of depreciation is price volatility. On the other hand, in mining there are several risks from the aspect of equipment and operational costs, the difficulty level of mining, and others including the risk of holding bitcoins.

Additionally, in certain more stringent countries you will be required to fulfill administrative clearances with local authorities so that you can mine bitcoins without the threat of a forced shutdown.

Pls know this that engaging into bitcoin mining require intensive capital to run it, because you will need to create a start up plan for your mining rig, source for a suitable location, find a means of power supply, steady internet connection, high definition computers, mining softwares, installations and the technical knowledge in mining.

Whereas you can only make use of your 40k to purchase a particular amount of bitcoin and start your investment journey, with little fund in a little time and a little patience can emerge you to something big with time.

For now, I prefer to buy bitcoins than mining bitcoins because to get a decent reward, you need to have good hardware and have that hardware run for a while. I don't know how long it will take to reach ROI, but it depends on your mining tools. So it's better to buy bitcoins outright than having to mine bitcoins because it gets you bitcoins faster than mining, and you can sell them if the price goes up.

In addition, to mine bitcoin, you also need to calculate the operational costs because you have to pay for the electricity required for the hardware. Unless you have a free power source, it will make you wait a long time for hefty results.

There are thousands of people on this forum from different countries with a thousand different tariffs on electricity each, living in apartments or houses or farms, having a business or not, in a country that taxes or doesn't mining, where bitcoin is legal or illegal, and you expect an answer that would perfectly fit your situation with giving any info?

Taking into account that an L7 is not a bitcoin mining asic, but scrypt (Litecoin/Doge), it's quite clear you haven't bothered to check that out.
Seeing that you have opened 14 topics and never replied to any of them I think you're not looking for any discussion with this either and you're just merit fishing.

I agree with you mining is a big headache compared to buying Bitcoin and wait for Bull run and book good prof .It has been very interesting topic for me since 2018 when I joined crypto space. I also invested in some cloud mining projects like Hashfalre who distributed good rewards in the beginning but later shut down their operation as the Bitcoin price went below 10K. Having your own rigs and running it successfully is not so easy when cost of energy is skyrocketing in every country.

Not everyone is fit to mine bitcoins ans at the same time, you have to understand that there are a lot of things you have to consider first, for example:

Rules of the government
Cost of electricity
Profits ? If any !
Cost of mining equipments
Initial Investments
Greener alternatives

But when you talk about just holding bitcoins then I do think that you can just buy and the whole process is actually very simple and you can do it through one click from your mobile, so it does not require much trouble. Therefore more people choose this option.

Buying bitcoin is less work and you don't need to scratched your head if something went wrong, even the market falls, you could just wait for it to gain it's momentum back. Unlike mining, you will have to think about so many things, electricity, temperature, maintaining the condition of the rig, and lists goes on. I don't discourage you from mining, I am too a miner, but I somehow used electricity for free, and I won't tell you how did I do this because it is illegal and I am not promoting it. I love mining, the sound of those fans, I can't explain it. It is like a hobby for me, but for you I guess you want a passive income out of it. Another reason I mined is because I am a weak holder of coins, I never really had hold so long and sold most of it cutting my loses. So I quit being a holder and find peace in mining. I am mining since 2017 and my rigs are well and healthy, giving me decent profits. Hope you can decide base on what you really like, sending lots of love and peace, mining is fun for me brother and hope you choose it.

In my opinion, it is more simple, practical, and efficient, not burdensome for several purchase options, which, in fact, will have many drawbacks during mining. So I prefer better buy and finish. Be mine without the need for this and all that. 1 BTC for me, the reason may be simple the mining process requires a lot of elements that are very detailed indeed. Honestly, I'm not a mining technician so as far as I'm concerned, mining must understand other elements and functions besides the basic tools needed in mining.

I would buy Bitcoin, because if the price goes up, you will instantly get profit. But if you invest in hardware, first you will have to wait months before you convert your investment will bring you first profit. By the time it happens, your investment in Bitcoin can give superior income.

With your budget, buying bitcoin is an one time affair. But buying mining rigs will become a recurring expenditure for you. So if you are willing to manage this day to day operations of bitcoin mining, buying mining rigs will be better.

However, if you don't want to go through all thise hassles of bitcoin mining and don't want to pay recurring money towards hige electricity bills, buying bitcoin makes more sense! So there's no straight forward answer available. It all depends on your situation.

I wouldn't invest in mining while everyone's talking about crypto too, this is something to wait on when it becomes more stable on price and stops making news (by about a year after then). If you don't and the price goes up, your miner will likely be mining less in terms of btc.

Buying is the best option for bull markets imo as it locks in the price and gives you a fair and certain amount of bitcoin. Mining is only very profitible in bear markets when the price has adjusted and become more stable/optimistic for growth.

If I had 40k right now then I would just go and buy the crypto at the current price. Imagine bitcoin just reaching to its previous ATH would straight up give me 15-20K USD. This is huge money without doing anything except putting the efforts into buying the crypto. If you go for whole mining set up then consider your investment is blocked for couple of years at least. So question is why should we go for whole messy way if the crypto is really down at this point.

However, if you wanna go beyond long term holding then just do this and don’t go for mining. It’s more or less managing the whole company when you have set up. Lolz.

I would have a different opinion on this. If I have 40k and I don't know whether I should buy Bitcoin or mine it, I would rather find the answer myself by doing my own research.
Bitcoin mining is not much profitable these days as it requires expensive mining devices that eat too much electricity. The ROI is low now a days, right time to mine bitcoin was till 2014-15 since then complexity has gone up and reward is also low per block.

Bitcoin mining is harder than bitcoin buying.Bitcoin mining need noiseless environment. It need of huge investments for the long run.You need to buy mining setup with 3-5k dollars.It's essential one to get less electricity or low price electricity.Because unless, you can't get profit from the mining.And you should setup a strong Wiring for the safety. At the last, buying can be start with the 10 dollars, but it was not possible with the mining! So you can buy some bitcoin then mining it.

It pays off to buy asic miner for mining bitcoin only if you have free electricity or if you buy with discount price for large mining farm.
Back in the days you could mine BTC even with regular computer (theymos did that with his Intel Pentium processor) but now that is impossible.
I think buying bitcoin when some dip happens is much better option today instead of investing same money to buy miners with all other expences.
Dollar cost averaging may be the safest option for buying, maybe every week or every time you receive paychek.

It actually depends on what your end goal is. For instance if you just want to accumulate BTC then just buy it directly.
On the other hand if you want to support the Bitcoin network then you could go ahead with mining considering all the hassle you will have to go through.
If you want to keep accumulating bitcoin then you will have to do a research on how much BTC you are gonna make per year as per the specification of your mining equipment in conjunction with the electricity being provided at your place.
At the end, it all depends on what your priorities are.

If you can mine BTC fine, but if you cannot then you should switch over the buying, which is quite fast, understanding buying BTC won't be much of a hard deal to understand and won't cost you too much expenses.
Bitcoin mining involves taking a while lot of experience, electricity and a totally isolated area to avoid as sought of distraction.

Everyday, Everytime I'm down to buy BTC

I noticed the same thing, 14 posts and 14 new topics without a single reply from the OP. I think you are right, it seems the OP is not interested in the discussion here at all and is likely just hunting for merits so he can rank up. Many newbie accounts tend to be too focused on ranking-up to the point that they miss the true purpose of the forum - the discussion and providing value to other members.

Mining has a cost and isn't fast to recover your investment. I would recommend buying the coins and holding them until the price bump. That's the right way to make a nice profit with cryptos without a hard effort.

You should consider mining only if you can make a huge investment and only if you have cheap electricity.

This is one of those questions that  has been around for a very long time, and unless you want to be a miner and you have the knowledge, expertise and access to cheap electricity I would not recommend it.

If the only thing you want to do is to hold some bitcoin as an investment and get rid of your fiat then just buy bitcoin and forget about mining for the time being, as there are very high chances that something will go wrong in the process and you will be unable to get as much bitcoin as you would if you just bought it due to your inexperience as a miner.

I can understand that for practical reasons, it is better to buy btc rather than buy equipment to mine it.
As it depends on the capability of the person, if he is already a previous miner or not.
But if you are starting from scratch, I would also go for buying btc especially right now that it is below $40k.
Though you also need to keep up with the market as this will give you the edge when to get your profits.
But if you are here for long-term and strongly believe about btc, then, you can buy and hold.
Mining takes a lot of work, and other considerations like power consumption, environment and others.
If you are not in it to learn all the mining aspects better go the easier route.

I believe that buying and HODLing your Bitcoin is better than mining and I think @darkangle has outlined some or most of the cons well here


Why go through all this hustle if you and might still not be able to make a profit at the end of the day when you put all cost into perspective over a period of time when compared to you hodling your BTC

How will he know if he can mine or not when he doesn't have a miner yet? Currently, he is asking for a second opinion here if what's best for him but surely he had an experience with bitcoin because anyone can buy bitcoin cheaply by buying at smaller amounts.

If buying/investing in bitcoin works well for him then there is no point of asking here but he can just stick with it but he is still here, maybe he isn't getting enough profits according to his expectation with bitcoin? But, it doesn't mean that mining is the solution to that because mining was also hard based on the feedback of others and some of them have already tried mining.

The best way to make a successful investment in every setting is to do some actual in-depth research and about your question, the perfect decision will depend on your resources both buying BTC or mining it will require from you i.e you need to do the calculation of the cost of mining BTC in your geographical area and check if it will be profitable if not buying Bitcoin will be the best decision. However, this miner is for altcoin, you check its mining stat and calculate if it will be profitable to mine with it on https://minerstat.com/hardware/antminer-l7

To cut it short as individual, it's encourageable to buy Bitcoin instead of mining of Bitcoin, because buying Bitcoin will require a short expenses and it will be as possible as we can afford the capital and also control it than mining, because from my perspective in the aspect of mining, it has to do with sufficient electricity power supply and other necessary and important installation of wires that can caused alot of finance, so therefore with three thousand you can purchase Bitcoin.

This goes back to everyone's perspective I guess.
Buying bitcoin is simple, but we must be able to know the momentum to get the right price. What we want to buy is different from mining because at least there needs to be good management about it, although indeed we can relax and not think too much about losses in the market, but of course there are losses in management. .
I personally prefer investing to mining because I'm not very good at dealing with things like that so I prefer investing and trading options

Very few countries around the globe have got the cheap electricity consumption charge. So, mining isn't profitable everywhere. Good is to buy bitcoin at the right time and keep hold for the selling at the peak. This will generate good profit.

Through mining one can make a regular earning unlike the market, but it requires big capital funding. Some used to set-up home miners and these miners will generate good revenue until its been caught, because these miners will be run illegally. In my country we've got certain limit of energy to be used for household needs. If found higher, then the energy company makes an investigation.

The amount of money you have is quite under the profitable budget to mine bitcoins so it's better to buy 1 bitcoin and hold it for the long term rather than mining your own bitcoins which doesn't really assure you if the components you are using will last longer before you get your capital. The problem here is, the power consumption will gonna increase and you need to pay that before even getting some bitcoins. it simply means that you need to pay more electricity bills every month before even getting bitcoins from it.

With the amount of money you have, I recommend buying bitcoins instead of trying to mine because with that money, you need to buy expensive tools and not necessarily you can get good results.
By buying bitcoins on the market, you can own bitcoins and those bitcoins will immediately be ready to be sold if the price goes up.
Even if you have or can cover expenses each month, you still have to wait a few months to get a return from your mining results.
In addition, if at the moment you want to sell bitcoin, but the price drops, you still can't sell it right away and have to wait a while.

I think it would depend on your goal or situation,
If you are aiming for long term and doesn't need the cash for a long time then go for mining,
But if you want a faster profit then just buy Bitcoin instead of mining it and do some trades.
Mining is for long term and slow ROI but it is expensive.

Lets not furthermore this conversation and answer direct to the Point.


"BUY BITCOIN" and of course add some small part for Altcoins , we knew how expensive mining business now because the electricity and the harder bitcoin can be mined nowadyas.


So best not to deal with mining and just buy Bitcoin Right away .

What you need to know is even you bought Bitcoin right now, no one can guarantee tomorrow you'll earn profit and not all people can do trading. As @OP is a newbie, trading isn't adviceable since most of newbies only loss from trading, even worse if they use borrowed money.

Also Mining doesn't always profit since it depends on the electricity and how good your maintenance the mining rigs, it's costly and you could loss. Retail mining aren't profitable as few years back, when you can still use CPU or GPU to mine.

Best to put a POLL instead of asking like this so you may find what the community sentiment on this matter.

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It has been mentioned above for majority of answers , that it is Buying Bitcoin instead of buying Mining rigs.

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The worst is about the availability of electricity , it is really a Huge expense in Miner .

Mining is not an easy thing to do if you look at the additional maintaince cost like cooling of the system, electricity and other costs which will be added regularly and as single miner you can't do it without getting into any pool.So for me aslo buying bitcoin is the best option and get profits in long run when the prices will increase.But the question is to keep them safe in some non custodial wallets or hardware wallets with proper backing up of your seed phrase.

In 2014 I used to mine bitcoin with S5 and S7, because I heard bitcoin was always hot news on bloomberg and CNBC TV when it skyrocketed from under $100 and could skyrocket to $1000 at the end of 2013, at that time there were many guides for mining, and proven With the 4 units I bought, I got an ROI of about 5 months, but after the 2016 halving day which made mining very difficult, I sold and preferred to invest.

Mining had been discourage in many countries because of the demand of High electricity and this must be very expensive , though some others uses a reusable energy to continue mining and this brings them really a profit.

But not all can have this and be safety so yes lets not come across and find other option like investing in bitcoin , But i will also discourage you to buy solely bitcoin but instead try to diversify than buying single bitcoin.

use the funds in different currencies but of course majority will be in Bitcoin.

In my location, it's better to buy bitcoin because electricity has never been cheap. But if you have a solar power/panels then you have no problems of electricity and you're minimizing the expenses through it.

And if you are in that situation then the best option for you is to buy your miner. You should also be aware of how long the ROI you'll have upon the purchase and have to consider the volatility of the market.

Depending on several factors because you would consider out these things;

1. Electricity cost on your country
2. ROI duration.
3. Knowledge about technicality of mining
4. Mining Difficulty

If you dont like all the hassles then you could simply buy bitcoin as a whole.

Dont forget that mining is a closely connected with fixed costs. If you stop mining, your breakeven point will start to move away. Mining require users attention, as hardware can break down or other problems might appear. Nowadays, buying bitcoin is as simple as buying withdrawing money from ATM (hello bitcoin ATM), and holding it cost nothing. User can sell bitcoin with 1 click and in 1 second. Selling mining equipment will take more time.

The difference is that buying bitcoin could be done in satoshis as well. Between the breaking down, the hardware problems and all the other things, we are talking about high entry point as well. Even if we do not talk about just bitcoin, and move down to GPU mining as well for altcoins, that still has a high price.

It is not at peak levels right now, but you need to run it for like 2 years to make your money back with how much some people are charging. That's not the case if you can buy at the real value of the GPU's, but people buy it at that price and then sell it for 2x or even higher. That is why bitcoin is even harder, you need much more capital to even start. Instead, I can buy just 100 bucks worth of bitcoin, can't do that with mining.

You can buy used old GPU unit for 100$, install it in case. I think everyone still keep their good old PC from childhood. Or get it from a neighbour or a friend for a beer 6-pack (and get a GPU for 95$). And start mining. It will take 5, maybe 10 years before your will start to get first profit, but still it is possible to start mining with 100$ budget.

In addition, you need to understand mining, in simple words you need to be able to do it. For me personally, this is a very difficult task, and risky additions to equipment. It's really easier for me to just buy some bitcoin every month as an investment with the hope that in the future I will get a very good profit. It seems to me that mining has more risks, but I could be wrong.

I would choose to buy bitcoins and keep them. Mining needs a lot of consideration and preparation, we have to think about what mining model is suitable and we can run it at home, we have to manage the costs and electricity needs per month, we have to have a special place for mining (mining noise can disturb our neighbors) and many other considerations.
In my opinion, buy and holding Bitcoin is quite profitable and more practical. Especially if we are busy working in the office or official work for a few days outside the city, it will be very difficult to take care of mining if something happens.

If I have 40k right now, I surely invest it in Bitcoin. Although we know that Bitcoin mining is profitable but if we think about the expenses at this time, 40k is not enough to start a mining business. And besides, Bitcoin investment never requires us to check on it every time, we just hold and that's it. But if we are into mining, honestly, it consumes most of our time. We need to check it from now and then to be sure that all machines are working well and efficiently.

Best not to put a poll. The community sentiment on this subforum when asked by a regular user the way OP did and responded by the type of general user responding is going to give a very bad idea of how actual miners and actual buyers actually think.

Besides, there is no question for 99% of us. Unless you're a real miner already doing it, I think very very few people entering the sector, and those doing so are hobbyists.

Sometimes it seems as if people like to complicate themselves without any need, bitcoin mining without a doubt is a profitable business but it has several issues that need to be addressed if you are to become a successful miner.

One of the most obvious is what would you do in the case mining is declared illegal where you live? This happened at China and miners there had to relocate themselves really quickly to avoid violating the law, can you do something like that? Most small miners cannot do it, and in that scenario it would have been way better for them to just buy bitcoin and forget about mining.

depending on which side to look at, if you go mining now, then this is not the best option, the price of equipment is simply cosmic, I would choose to buy and HODL for the long term, no amortization of equipment and electricity charges, just wait for the right course.

Yes Indeed, Another thing is mining difficulty, if is it too much time consuming to find out the exact hash then you will lose ultimately.

Electricity prices are not the same in all countries. Bitcoin mining is by no means profitable in countries where electricity has to be used at high prices. Another issue is the temperature, in most cases, Bitcoin mining is very profitable in the winter major countries where electricity is available at low prices.

On the other hand, anyone can buy Bitcoin in any situation and make a profit from it. So, there is a chance of passive income for both miners and investors, so you don't have to regret if your area is not compatible with the setup mining farm.

There are so many considerations when you go into mining, whereas, if you just buy, you only need to secure your wallet.
However, it doesn't mean that if you will buy, there is a guarantee of profit because it depends on when will you sell your bitcoin.
Should be of course, higher than your buying price. But there are some cases that a holder sell off at a lower price because of panic.
In this scenario, you should know your goals and stick with it. If you are here for short-term, better weigh your options.
But mining is not for all. It takes a lot of hard work and dedication before you can see your profits here, aside from the fact that energy consumption plays a significant role when it comes to this activity.

I believe that not everyone or every country can afford to mine with high electricity since it takes too much energy, time, and resources. So buying is preferable because if you have an asset, you can invest whenever you want and get any quantity of Bitcoin you want without wasting time and energy like miners do.

     With such a capital, had the market been in a good state, I would've opted for immensely diversifying the investment plan including investment on speculative new projects with great potential. But the market being as it is nowadays, I would limit my diversification on terra-luna/rune ecosystem coins along with luna and rune coins of course. Then have the majority be placed on btc and Ethereum. There are quite a list of good enough coins to buy as well but I don't want to risk it in such a market. Remember to keep extra usdt or any of the sort so you can DCA as price go even lower you buying point. I didn't talk about mining since it would be a hassle for beginners to enter it nowadays.

I think buying is a safer, simpler and lazier option, which can also bring some long-term profit and easily make $40k into $100k over a couple of years. As for mining, it means not only initial investment which you that need to cover by profits (when you buy Bitcoin, you can always pull your money out, and you'll get more out of it than out of selling mining equipment, probably). You also need to cover the electricity bills, which can be huge. Not to mention maintenance, so that your equipment doesn't break. And, possibly, taxes for doing business, maybe some permits to do that etc. So I'd go with buying Bitcoin.

That's not an easy question to answer. Mining bitcoins sounds nice, but it involves money and work to maintain it. It's not a system that you buy once and then the money flows in. The first thing is the hardware, the prices are still high and it will take time to make your money back. Also there could be problems or damages which require repair and mean downtime for the Miner. The second thing is energy, it depends on in which country you are and how much you have to pay for electricity. Now with he Ukraine Russia war, energy prices are likely to keep rising in the near future. The higher your operating cost the lower your profits.
In the end it comes down to how you look at the future bitcoin price. If you believe that the bitcoin price will rise again than buying bitcoins directly with your 40k, but if you expect falling prices than mining would be a better option. Personally I would invest rather than mine.

Yeah right. Its easier to buy bitcoin than mining it. In mining you have to buy some mining equipments which cost a lot of money. It consumes electricity which you need to pay. And lastly it has a short life span (2-3years). So if you want more bitcoin, then just buy them. Buying bitcoin is cheaper than mining. Bitcoin mining is just a waste of time.

depend on situation and depend on your location mate , because Mining takes a lot of obligation to be successful so if you cannot put it on the right track then it is impossible for you to make even a small profit from your capital on that.
there is a call for renewable energy mate , there are some place in Europe that become successful miner because of their use of energy in right manner.

In Russia they can't export the oil so I'm thinking that they can use that to mine a btc or their government will have a mining program where people can pay some money to use the mining machine and mine btc on their own. If that would come to a reality and if he is living on that country then btc mining will be the best for him.

Why is mining better if the coin's price is dropping? Does mining become easier too? But when price is dropping, I don't think the mining equipment will get cheaper so buying directly can be the best thing to do. Price fall can be temporary too so if you mine it, chances are the price will recover and you haven't mine enough coin yet.

Ohh this roughly depends on your personal preference.

In mining, you have to invest in equipments and space. You will be needing and consuming tons of energy in order to mine those blocks which will reward you on the process (in BTCs). Personally, I've encountered people who sold their mining rigs since they see it as not profitable especially if you have a relatively small amount of capital.

On the other hand, buying BTC is the same as HODLing it for short or long-term investment. It depends on your goal if you would want to purchase BTC or mine BTC. But personally, I would choose the former since it does not take much of my time and I only withdraw/cashout it whenever the prices are high on the market.

Lazier is the key word here. I mean don't get me wrong, if you have the money for it, the tech mind to keep it going, and have the mechanic talent to fix anything that may go wrong then go ahead and do that if you want to. But for the life of me, I do not get people who have none of that and still end up buying bitcoin or gpu mining systems.

One wrong move and your investment could be gone, one broken gpu and your money is gone. Just buy it, hold it, and literally do nothing about it and you could make a good return from it for sure. I personally believe that we could make a good return from it without doing any work at all and that is a great deal.

I would rather buy bitcoin (which I've been doing for a long time now by the way) than buy a miner, my reasons am gonna list below even though I believe most or all of them are already mentioned.

1. Mining requires a lot of electrical power and in my country, power is a really big issue right now.
2. It doesn't end in buying the mining, you still have to set it up, which requires a lot of time, and you might end up hiring someone(extra spending) to do the set up for you if you are not learned enough.
3. Miners can develop issues as time goes by, you have to hire an engineer who can fix it if at all, there any, and in my country, I don't know neither have I heard of anyone with knowledge of how to fix faulty bitcoin miners.
4. Mining machines require maximum security to protect it from being stolen, and this means you have to give it serious attention.
5. Mining machines are built to run 24/7, this is the only way you can have opportunity of earning decently, this can really be frustrating in a city or country with epileptic power supply, except you have your own power source that's guarantees you 24/7 power supply.

This are the few I can think of right now, so to be sincere, for me personally, the stress involved in buying a miner to mine your own bitcoin is just way too much, it's not worth, so I prefer to buy my bitcoin from the open market.

There are still big companies mining bitcoin so I guess its still profitable for them since they still doing it even by now but you need a lot of funds since you need a strong hardware to see a better result since if you buy cheap miners then provably you will end up nothing or get discourage with the result. That's why if you only have limited budget then buying will be the best option since its still profitable if the buyer knows the risk and know how to trade it.

Profitability of Mining and buying Bitcoin depends on the location of the user and the technical knowledge the user have got. For the first time the user finds it difficult to set the mining rig and run it, then onwards he/she will get used to it.

Buying
It is very user-friendly to buy with the existence of more trusted platforms providing easy access.
Need a wallet with good security features to keep the bitcoins safe.
Depending on the market situation it is possible to buy at a better price than what is being got out of mining.

Mining
It gives regular earning unlike the market condition.
Requires uninterrupted power supply and internet connectivity.
Regular maintenance is a must. If a card gets damaged, it can eat the profit.

then how long can you earn 1 bitcoin from that Mining rigs? than just buying the whole bitcoin and wait for the increase?
at least will doubled the value ? try never to put more expectation and just keep holding mate that is what we need to gather now.

It all depends on where you live. First, if you are extremely wealthy, have your own solar farm, or your electricity is free in your country, and the weather is cold, I would recommend mining. However, this scenario is nearly impossible because most of us pay large electric bills, so the best option is to buy bitcoin rather than mine it. in your own country Most of those miners live in cold countries and use renewable energy, or their electricity is inexpensive in their area.

Mining is also an idea but it requires more work than buying and holding them. In addition to energy costs, wear and tear of components, space, you need a lot of time to take care of them and technical knowledge for miners. Not to mention the mining will be interrupted at any time if you are living in a country where bitcoin is not yet legalized you will have trouble with your machines.
With $40k, I think You can buy bitcoin and wait for the price to rise. Bitcoin price is low relative to old ATH so buying now at low price is an opportunity to grow the asset quickly.

buying and mining is only a slight difference, you have to spend capital to mine BTC and have to wait to be able to take your mining results, of course if your mining goes well it will make a profit. if you have to buy also have a risk, you must be able to analyze the market. yes in general prefer to buy than do mining.

The days in which someone could just buy a miner and try to mine some bitcoin for profit are over, now it requires that you have deep knowledge about the subject before you even begin otherwise becoming profitable is impossible.

And even if you have that knowledge it means nothing under the current circumstances, after all the price of energy all over the world is going up due to the sanctions imposed at Russia, so it is better to take the safest option which is to just buy bitcoin, secure it properly and hold it for as long as you can.

The idea of mining is to generate bitcoins continuously without needing to buy them anymore but like you said the only problem is the cost of miners and the cost of mining itself. We need to determine these factors first if mining is suitable for our needs or not but if not we can always buy a bitcoin.

Bitcoin mining can be interrupted in case a problem of electricity occurs or in case the weather is not fine, if your source of electricity is natural or renewable. There are countries where mining is banned but there's also countries that banned both mining and the use of bitcoin. There's no escape for you even if you say your only buying btc and not mining it.

You can do both, one is not necessarily better than the other.

Mining Bitcoin is of course a more active way of getting Bitcoin, you'll have to pay for electricity, make sure the miner is running smoothly, troubleshoot any problem, etc. Each Bitcoin you mine might end up costing you roughly the same as just buying it(or more, or less). Just buying Bitcoin is a more passive way to obtain Bitcoin.

In the end it's a matter of personal choice.

Mining can be a great hobby if you are interested on it and you have the skills to make it work, however if you do not have the patience to try to make your miner run and troubleshoot any problem that it may appear while at the same time you are fine with paying high electricity costs wherever you decide to setup your miner then you could be fine.

But for most people mining requires too much engagement on their part, so it is better to just buy bitcoin, secure it properly and forget about it.

Bitcoin mining is not feasible, i will prefer to buy one bitcoin instead of buying an  Antminer L7 and not owning a single bitcoin.  ;)

Moreover, mining requires some technical skills and you need to spend electricity also on mining. If you are living in a country where electricity is expensive, you won't be able to earn any profit from mining. Buying bitcoin is however safe and more easy way to hold bitcoin.

The profitable mining setup needs ROI and to get that return you need a location, electricity, maintenance, ASICs ordered, set up and cooling. While buying bitcoin will need a secure wallet, an exchange account that supports you local currency, +/- KYC and spending your money to get bitcoin, all can be done on your personal device in a few minutes, without the need of running about.

Some people are passionate about mining and they may already have a plot and low electricity costs, low temp round the year situation. So for them mining is a good option while keeping in mind how competitive the field is. Someone who does not have such conditions and is passionate about mining would never be able to think of the same, unless they want to add the bills to their spending.

It is not just a personal choice, but a matter of several factors.

You should go for buying Bitcoin because price of Bitcoin isn't so high at this time. It's a great opportunity to buy Bitcoin with lower price. Mining Bitcoin is costly because you have to pay for electric bill and components for mining. Better, buy Bitcoin and wait for some years to get good money.

Simply saying that ROI is really much longer but if you do like to complicate things or do really have in passion on dealing with mining then you could also choose it out but if you dont like the hassle and other factors

to be mind off then you could simply buy a whole bitcoin which you do need to add up a little bit since 43k price as of this writing but if you do like to hassle things up then choose on buying a miner
but you should be considerate on other factors which like on electricity cost and others.

Mining, trading, investing and other profitable ventures can be carried out at the same time. It takes a lot of capital to buy mining equipment where the higher the specifications, the more expensive the price. While you only need to buy bitcoins and hold them long term for a good profit target, it will not stop you from dealing with mining tools.

Investment is the best option for people who don't want to be in the market watching charts and profit opportunities more than 10 hours a day. Just choose the best assets for you to invest in and make sure you keep them in a secure wallet that only you can control.

To have at least some more elaboration for this point.


Things Investors Should Know About
Equipment Used for Mining. In the earlier days, CPUs were used for mining all types of cryptocurrencies. ...
Cost of Energy. Miners have to run their equipment almost 24/7. ...
The Market Rate of the Currency. ...
Global Market Condition. ...
The Mining Pool.

Source (https://oxygenfinancial.com/blog/5-factors-investors-must-consider-before-investing-in-crypto-mining)

If you are not that tech savvy or knowledgeable then better skip out on doing mining.

Buying bitcoin and holding it is a very simple way to deal in the Bitcoin market that is you don't need any skill to do that all one need is just to have a wallet buy and store them there, but mining is a lot more technical and to have an operational mining farm one need to build a lot of things and go through several processes involved, so comparing bitcoin mining to holding is difficult as their both do not belong to the same category.

So far, buying and holding BItcoin work more for me and this is worthy enough. I never tried mining because I should consider more things than only buying such as the power to mine, place, equipment, and other elements in which they are not cheap and must be continuously.
Consider about yourself condition whether it is available and worthy or not for mining, if not really, you can prefer to buying only and making them as Bitcoin.

Actually, you don't need to buy 1BTC at once and all in. If you have such big money in that amount, you can make some diversity or some steps of buying Bitcoin several times. You may use DCA or other strategies in roder to get the ebst price. However once more, DYOR when youa're going to buy the Bitcoin, when and how much. Ensure that you also use free money, dude.

I have never mined BTC and I think buying and holding BTC would be more appropriate for individuals. Just have a little money, you patiently wait for the market to drop, you can buy BTC and hold it for a long time, you will definitely make profit.
Buying and holding BTC does not require you to have as much money as mining. Example 40k you can buy 30k BTC and 10k you can buy ETH to get more new experience of the market.
On the contrary, mining will be more suitable for organizations and businesses because it requires a lot of costs and human resources to exploit.

I am not an expert on understanding how GPU's work or even want to learn that because it is way too technical, nor would be interested in high tech ASIC bitcoin miners neither. I only use a laptop for every day usage, it is a very old one and it keeps having problems and I have heart attack like panic attacks whenever it crashes.

Since, it is an old one, it does have crashes like once a month and I should get a new one but I really do not want to spend that much money on a new computer when this is still working, I will wait until this one is completely dead. Imagine me using some ASIC miner, I am barely using the current laptop I own, and not even caring about it well, I would destroy an ASIC farm, so there is no need for me to risk my money that way. Buying bitcoin is FAR better option.

The cost for mining bitcoin is not that cheap, if it were, there would have been alot of people mining it than holding, The capital that you want to use in mining might not be that huge, but i would advise that you use it in buying bitcoin to hold than to use it in buying equipment use in mining, paying electricity bills and other expenses involved in mining, moreso you just buy and hold rather than passing through lots of stress in mining it

I hope you understand the current situation of the market? We are like 50% discounted at the current market rate and the market is already pushing itself upwards as we speak. If you invest your 40k today into mining stuff then I’m sure it will take you another two years to recover the same from market. Considering we get to see new ATH you may recover it faster but still another year of wait plus maintaining of the whole rig.

For me, just to give the inputs my vote will always go to retail market. Just buy it when you have chance and MONEY. If you keep waiting then you will have same situation as 2010 bitcoin value and 2022 bitcoin value after few years from now. It is as simple as that.

Unless you live in a country where renewable energy is used and electricity is free. This is the most difficult problem for a miner to solve: paying bills and determining whether or not you can still make a profit. Those who own mining farms in cold areas are usually only making a profit because most of them have low electricity costs and can reduce costs because they are already in a cold country. The best option for us is to buy one, as it requires less effort.

If I had a place set up with lots of renewable power (had a bunch of solar panels plus a couple residential-size wind turbines), that was also connected to on-grid power, and I knew what I was doing with setting up Bitcoin mining machines, I'd use that $40k to buy miners. Otherwise, just buy Bitcoin.

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

I don't think the spend will be more than the reward get from mining, if there is no profit how can mining farms survive?.
I think like this, mining will make profit but to mine bitcoin will cost a lot in the first time of operation and requires us to have a source of money to pay monthly costs and Basic technical knowledge is required to operate an excavator. But buying bitcoin is simpler, we can invest with less amount and just buy and hold, we don't have to worry about monthly cost.

Yes, buy bitcoin will be more better than mining that will cause you power supply and data through out the mining. If you calculate the money and time you will spend on mining and the profit you will achieve at the end of the mining, you will came to discover that buy bitcoin and hold for 2 or 3 years will bring you a huge amount of profits at the end of the investment than mining.
Bitcoin price has increased to $50 which is really helping bitcoin investors to start earning good income  from their investment because they bought bitcoin at a low price last months when the price was $33 in the crypto markets.

Have you also take an account about the electricity price and other stuff maybe some cooler to make the room become less hot because of the miner? It's not just simply you can buy that miner and let it do the job easily. It's more than that, you need some stuff before even make it run properly for the first time, but other than that you will be familiar with it. It's better to buy Bitcoin in my opinion and hodl it as long as you want.

But, what if you will be using solar and other forms of free energy to mine a crypto? and what if you use your mining equipment with care like you will turn it off once you feel it was over heating, only to relax the machine so that it can last longer. That should lessen the expense of mining. Mining can still be better than buying a btc if things done right.

For an average joe that is afraid to take risk and have a very limited knowledge, they probably avoid mining even if they didn't understand it properly or didn't prove to themselves that mining is truly hard or unprofitable than simply buying a btc but anyone can still lose even if they just simply buy and hodl a btc.

There is no "free" electricity. If you are using solar, then that is energy that you are producing and if you use that for mining, you are still using it, you could have sold it, or used it for something else. Just because you are not paying for it, doesn't mean that it is not getting taken out of your pocket.

You could make $100 per month by selling it, or you could decide to use that to mine $150 bitcoin instead, depends on your own decision. Of course, $150 looks like a better deal, but in the end the machines could break down for no reason, or you could have flood, or you could just get raided and all of your machines stolen, plenty of possible things that could go wrong.

I cannot decide on this topic because, Mining bitcoin gives you more bitcoin instead of buying it. It would take 10 minutes to mine a $48,000 cryptocurrency coin. That means that you would need a warehouse with a lot of graphics cards and so on. I would just buy bitcoin since it is the easiest way without buying a lot of computer parts that is the size of a large warehouse. I use robinhood to store all of my bitcoin on One device. I use my MacBook to write this on the bitcoin forum so it is easy without using a phone. So I am undecided on this one and they are really good options. If I would switch to become a bitcoin miner, it would take me months or a year just to mine at least 1 bitcoin because I am cheap and could not afford to buy a Bitcoin mining software and a lot of Graphics cards.

Are you really commenting on this quote? There's no casino that has been mentioned and the topic is all about mining and buying bitcoin and which is a better thing to do. Probably you've commented on a wrong thread and you've opened one from the gambling section.

This is the advantage of buying bitcoin, you don't have to setup anything but only your exchanges account and deposit/withdrawal into them with your purchase and you're good to hold it upon acquisition.

It depends from person to person differently buying bitcoin is more easier then mining bitcoin because for mining you should have a set up and all the things that required for btc mining, on other hand buying is very easy, on exchanges you need to put miney and buy btc as much as you want. May be mining set up cost will vert high for coin that you are going to mine.

It would be justified if the ROI from mining would cover the cost of setting up the farm. Most countries don't have cheap electricity and neither do they have a cold climate to remove heat. Moreover the competition between farms that are already established is high and getting skin the game is a tough thing for a newcomer.

Hence the logical thing for an average investor is to start buying Bitcoin at lower price.

Another thing is altcoin mining which is again a rat-race game. if that suits you then go with it, but the lack of guarantee that the coin is going to be anything in long term is there.

buying bitcoins seems simpler and after that we can do other activities, this may be different from mining which requires treatment to get bitcoins. for those who have a lot of money then investing in bitcoin can guarantee their future, in contrast to mining which requires large capital and maintenance at all times, of course we must have knowledge about mining, but this depends on the skills of each individual. if you want regular income, mining is an option

I will choose to buy Bitcoin rather than mine it because mining Bitcoin requires a lot of energy. While the device I use doesn't seem strong enough to do it. Besides that, the risk of mining Bitcoin is also greater but the benefits obtained are also greater than just buying Bitcoin and then trading it. . It's all back to the way we organize and manage the process between buying or mining. Choose what you think is suitable for you, whether it will be comfortable and whether it's too risky or not.

You are right, buying Bitcoin is better than mining because it will stress the miners due to the facilities which are involved to actualize it, some one who have the capital to buy bitcoins i will advice the person to buy instead of mining because i know that mining of Bitcoin requires many things, like electricity

Here's the main things need to consider first.

1. Electricity cost
2. Regulation of the country on where you made that mining activity
3. Maintenance
4. Technical knowledge about mining
5. Longer ROI
6. High amount or Big investment

If you could able to handle or bare these things then go ahead but if you dont like or simply saving up yourself with the hassle
then better buy bitcoin.

Definitely buy, like most other people said. There's a steep curve, learning, maintaining,  and troubleshooting with computers and technical stuff that unless you are strong in these areas you might end up spending a lot of time that maybe you wouldn't have accounted for.

Mining makes no sense to me. You'll be taking a huge risk and putting in a lot of work to set it up.
For it to be worth my time I'd need almost free power like they had in Iraq back when Saddam was still alive. Buying an abandoned power plant like some miners did could also work ;)
The biggest risk is that something can go wrong like your miners can catch fire or be stolen. With small margins like the miners are pulling it's just not worth the time and money of a person who has less than 500k USD to spend.

Yeah, it's not for technical people but if someone really is eager into mining. He'll eventually learn all of those stuff across through the forum and other place where he can ask how to set it up.
And aside from that, the major concern that others see on it is about the cost of the whole operation and that's what the new miners are thinking. About how long it is going to be for the ROI.

You need to see the above factors and if the ROI is good one , then one can opt for mining. It's not that hard to understand the Mining setup and knowledge can be gained online easily. If you need to earn via mining, you have to spend time on learning too. If the electricity cost is low in your country, you can go for mining.
Just make sure that mining bitcoin is legal in your country otherwise you could end up in trouble by the law or police enforcement agencies.

the most complicated part that you also forgot to add is that the mining equipment takes a long time to arrive and it has to be in a safe place, that is, the person needs to have a space dedicated to the mining equipment because they are equipment that produce noise and a lot heat and that's why they need ventilation, this is another cost, also if you have a lot of equipment you will have to have an employee to do danger monitoring of the equipment. It's a cost that right now is not worth it. in many countries electricity is not enough so the government has to manage it well and they will not allow mining

Trading Bitcoin is easy, it's the easiest way for you to get into cryptocurrency. It is faster, more convenient, and more profitable as well.Mining is the process of extracting cryptocurrency from the blockchain network. The "miner" is rewarded for this service with currency.Mining is not as simple as trading bitcoin.

Not just electricity but the location, equipment, cooling, manpower and maintenance are all involved in this. While some farms might be ready with all this, most are not and it is not a piece of cake to set up such a system from scratch. Also the fact that the current miners are at hash-wars, as to who can generate the maximum hashpower and get the maximum rewards, it becomes a tough market to get into.

Buying bitcoin is always better than mining it if you are new to the market. Have a mining setup all ready to go? Then only think about mining to earn, otherwise you will mining to lose.

Bitcoin can only be obtained by mining or buying. Apart from these two options, there is no third way to get Bitcoin. This makes it very important what you intend to do in the future. Making bitcoin money is very complicated and requires investment, technical knowledge, and time. At the same time, it is important to consider the number of bitcoins actually mined, the investments made, and the return on investment.

I think buying bitcoin can be a better option than mining. But all it matters price of Bitcoin. At what price, do you buy Bitcoin from the market?

At an early stage, it was quite easy to mine bitcoins from any device, but it is getting harder for miners to generate smart earnings just because of the higher difficulty level of bitcoin mining, which requires high-end equipment, with consumption of higher electricity.

Tbh, the answer to your question 5years ago would not be the same today. And I know this isn't a new question per say.
At this stage of bitcoin and considering that upto 19 million Bitcoin has been mined, mining is becoming less lucrative and the majority of miners are feeding on transaction fees. Others are in a mining pools waiting to share the gain whenever a block is solved. So the mining I think is not supposed to be your first option. Meanwhile in mining there will also be operational costs.
Buying btc and hold for a very long time is a good option. But I doubt how you will be able to let $40k lie somewhere in the name of investment. Unless you are doing so well.
But if I were you I will buy btc with $20k and use $20k and research good altcoins that can give me more results.

the distribution of rewards received by BTC miners is now getting more complicated, so that's $40k capital to open a mine i think it's just a waste of your time.  it's better if you just become an investor ^{(buy bitcoin at the current price and then hold long-term with a target price above $100k)}.

For mining of bitcoin.is good to mine bitcoin and it suppose to be good to mine Bitcoin the time it comes new and mining it now will course alot of expenses because people who mine bitcoin said it require energy of electricity and other appliances

I am more confident in buying bitcoins than mining because mining takes a long time and also has to spend quite a large amount of capital so to save time I immediately bought bitcoin.

It depends upon the location over which the bitcoin mining farm is being set. Years back I had a home mining setup, and at some point I wasn't able to pay the electricity bill due to the amount which I mine is less than the electricity consumption bill. Whether it is mining or buying, you need the ability to withstand and hold unlike the market fluctuation. This will give good profit in the long term. Also when it comes to mining what is being invested will give regular earning which we can't expect with just buying, because the next day after buying might experience a crash in the market.

the only reason here is your choice, which aspect do you find interest in?


I think you need to be specific whenever you're making an enquiry about a particular thing, you mentioned 40k, in what currency? that aside i think regardless of the currency it might be its not enough for any start in mining and i will only advise you to start with an investment, buy bitcoin and hodl or trade if you're good at it, lastly, the more the gain the higher its capital intensive, but it will do well if you can start with buying.

Mining BTC is not affordable for everyone because it need setup of hardwere which is expensive. And buying BTC is easy but it need huge amount. But if you mine Bitcoin then you will get free bitcoin lifetime.

No.
It doesn't require you huge amount for you to start buying bitcoin. Any amount as long as the exchange you'll use sets the minimum amount then that will be the lowest amount you can use for purchasing it. Like most, it's just around $10 and then you'll be able to own your bitcoin. So, it depends on how much capital you have.

No, you'll not get it for free if you mine it. The cost is electricity.

for me buying bitcoin is better, because I work and don't have enough time to take care of mining. on the other hand with mining we have to spend money to buy mining equipment and after that of course there will be maintenance and electricity bills that will soar, so that every month we have to take time for mining activities, in contrast to investment, after we buy it then we don't need to often look at charts, not a problem

I see that it depends more on where you are, in some parts of the world the cost of energy is quite high but in others it is regularly more accessible, mining has its pros and cons and I think that the greatest benefit would be to mine a Bitcoin in more or less 10 minutes, of course, to do this, taking into account the blocking time, a very powerful mining machine would be needed, not only to have great hash power, but also to have the best efficiency.

It would be a significantly high investment, but the truth is I would do it, don't get me wrong, I am in favor of buying BTC but I consider that having at least one Bitmain S19 Pro would not be a bad acquisition

Electricity cost would be one of the main factors on which it could really affect your mining profitability because its no sense that you would push your mining activity if you do know that you cant really

make much of it or simply you would be paying up on electricity cost or expense which is a dumb decision to be made and its better to buy bitcoin directly rather than on considering on mining it.

So its a personal choice and you arent that dumb on proceeding without having any considerations.

Agree. To mine Bitcoin, we need a lot of money. Not only about the electricity costs, but mining equipment is also very expensive. I have counted how much money to use if we want to mine Bitcoin with a computer, and finally I decide to not doing it because it requires a big amount of money. In addition, we also need to master some tricks in mining, to get the maximum Bitcoin. This means mining requires a person who knows well this job, not recommended for a random person. It is quite different from trading or investing in Bitcoin, we only need to buy it and hold on exchange wallets. In this matter, buying Bitcoin is a very simple thing as long as we have an exchange account and funds there.

Mining has to buy software requires a lot of money and paying for electricity also costs money and it takes time to get bitcoin the process is long so I use my money to buy bitcoins and I save I believe the bitcoins I save will be a valuable asset in the future.

Electricity cost is one needed to consider on this since if you live on the country which the electricity cost is so high then maybe we cannot get a good return for mining bitcoin on some other cause and continuous running it will cost high if we choose to select renewable energy to run our operation. So for small time investor much better if they buy bitcoins than mine it because it will give them more convenience since if they push maybe they will just add to those persons who sell their rigs because they didn't see this worthy anymore.

Holding requires nothing but capital and patience , so why need to mine when you can clearly earn much in holding?
you cannot earn too much in mining while In holding? it can triple or quadruple your capital in 4 years time .
so Holding Bitcoin is much better than anything .

Buying and holding bitcoin is an easier step than mining bitcoins, besides requiring a large enough capital to buy mining equipment such as special software and hardware to mine bitcoin, of course that miners must also have extensive knowledge of computer programming languages, I think mining indeed it is more profitable if we do it on a large scale but for small scale and small capital I think it is very risky and it is better to use that capital to buy bitcoin in the market.

Buying bitcoin is better for me than mining it, but only if the price is low, because it is much cheaper that way, as they say, "buy low, sell high." Even if the market falls, you could simply wait for it to rise again because time flies so quickly that you never know when you can double your money and make a good profit. Whether you buy bitcoin or mine bitcoin is entirely up to you; we're simply assisting you in making your decision because we all have various opinions.

Given the increased prices for components, it is worth thinking a few times before starting to mine. Sometimes it's easier to just buy.

Bitcoin mining is not for everyone. You will not just be putting in a lot of effort but also money, time, energy, internet and electricity. It’s also not sure that you will be able to successfully mine bitcoins. I believe buying bitcoin is better than that.

In BenjaminGlover's case, I would listen to your comments. Indeed, mining carries great risks due to the fact that you need special equipment, knowledge and experience in this area. This can be done by experienced people and best of all, on a large scale. Otherwise, I don't think it will be reasonabled. The days when you could mine on your home PC in your garage are long gone. Now, large players dominate in this area and it will be difficult. In my opinion, a simple purchase of BTC for the average user is the simplest and most effective solution, with a very low entry threshold. What can not be said about mining.

Today, buying bitcoin is much easier and this method is available to almost every person who has the desire to do so. With mining, everything is much more complicated, you need funds to buy equipment and pay for electricity. You are also right in saying that mining requires knowledge, an ordinary person cannot just start mining, he needs knowledge and skills to maintain equipment. And you can buy bitcoin every month in small parts, it's simple and understandable for everyone.

If I prefer bitcoin ownership, because we can control our own assets, we can sell or hold all our rights. If you want to increase mining speed, you can, but after a while we don't know whether mining will run for a long time, of course it will require equipment maintenance costs, etc.

Everyone prioritites here is how to get more profit) So at all in this forum i cant get a lot of info abt it. I just started and tryn' find more helpful info abt mining.

PS if someone can help me, pls write me back in dm

That will be the best thing to do by buying and holding for a long term, but no one knows when price will get to $100k or if it will ever get there. Optimists will tell us bitcoin will hit that price in no time because they have seen it what it has done in the past. But all that will be hype because it may not happen soon. There were people who expected that bitcoin would get to the $100k price in 2021. They projected it like they were very sure but we know how that did not become possible. Alot of people are just excited and optimistic of what bitcoin can do but not that they know how it can do it. Such people will tell you bitcoin can even get to $200k before the end of 2022.

Yes, that is the reason why many people prefer to buy bitcon than mining because you will buy bitcoin when the price is low and wait for the price to increase higher before you can sell to make a reasonable income . Mining will consum data, electricity and energy before you can be able to achieve little profit at the end of the mining. When you purchased bitcon and hold, I believe you will never regret for the decision in the future.

only few people will go with mining, i would prefer to just buy and hodl to avoid stress and many things required which if care is not taken you wont make too many meaningful profits. this is why i go with buying.

Buying bitcoin is probably the easiest way to get your hands on some cryptocurrency. It's relatively straightforward and simple, but it's also expensive.

Bitcoin miners are also buying up graphics cards like crazy, which means you might have trouble finding one if you wait too long (or pay too much for one).

Mining bitcoin requires a lot of powerful hardware and cheap electricity. If you don't have the right setup, it could actually cost more to mine than the value of the coins you end up with.

I have a friend who is still active in mining since 2015 and he feels getting a big profit when 2016 to 2018, but after 2018 mining it is very difficult, if in 2016 he can earn more than $ 50k but now with 5 units he just earns around $ 350 per month.

The difference is that when you buy those equipment and you get into mining, and if you really have a proper operations and not just barely doing something, then there is a good chance you could double your investment.

So, if you buy 100k worth of bitcoin versus having 100k worth of equipment, in the end you could mine 200k worth of bitcoin with it, if the price of bitcoin goes up, it will be even easier. That is why some people prefer mining over buying, especially if they are living in a nation with cheap electricity rates. However, there are many of us who do not see the technological risks as a worth it investment, I can't be bothered with it if something breaks.

with 40k at the beginning it's better to buy bitcoin directly, and save it if you want to add just calculate the maintenance costs for mining equipment and allocate it to BTC, especially now the cost of electricity is very expensive, oh,,,,,,,, it's better for me to buy btc than mining,

The exercise of mining is something that can be counterproductive, because everyone wants to mine BTC and it is logical, the only thing is that mining BTC is very difficult, most people choose to mine ETH, Monero for its simplicity and for not compete against the big BTC miners, however there are many ways to mine using few resources or sometimes even the same laptop because there are ways to do it.

If we focus on mining altcoins and buying BTC later, for me it is a winning formula, because you can mine altcoins and then buy BTC, it would be very smart.

First of all, you need to know that bitcoin mining is not easy.
You can not just buy a miner and plug it in and Boom, your bitcoin is ready.
You must have all the necessary equipment and knowledge to extract bitcoins.
Finally, I recommend buying bitcoins.

when the bitcoin mining boom, making computer equipment expensive, therefore to do mining of course spend a lot of capital for the first time. I personally prefer to buy it, because after that we leave it in the long term and we can do other activities, and my main job happens to be in the real field. but these are all choices according to the abilities and conditions of each person, so there is nothing wrong if other people tend to prefer to mine, either btc or eth. The important thing is that they understand it well

As my prediction, If you buy a bitcoin now, then after few years you will get twice profit. So, investing in btc will be good option. I am also investing in crypto-currencies for making more money. So, buy btc and keep waiting as you can.

Well said, most of the miners go for altcoins mining and then buy bitcoin with it. This will increase the profitability and also the difficulty is quite low compared to bitcoin which requires more hash. Even with altcoins the difficulty keeps increasing which requires addition of GPU to keep the mining profit stable. Apart from this it is good to invest on low price altcoins for specific time period. Once good profit is being booked, invest the profit on mining setup for regular earning.

I will agree with you because bitcoin rotation comes like air and bitcoin is something if you invest with big or small capital you make profit if you Free it to stay some why. People saying bitcoin has make people rich is when they buy bitcoins and leave to say long time and by then the price of bitcoin increase multiple times ahead of the what you bought

This may indeed depend on some people's thinking but for me it's more worth it to buy bitcoin and hold it than mining and having to bother every day.
Indeed, there may be those who disagree but I don't really like the complicated and prefer the simple, buying bitcoin is the simplest thing I do because the concept is to buy when it's cheap and sell when the price is right we want

When it comes to mining against actively buying bitcoin, I guess we would just consider certain factors that is associated with either of the positions.

For Mining
- You have the task of buying highly suffisticated devices for the purpose
- A space to establish your mining farm
- Generated heat pollution to keep in check and cooling of the devices
- Electricity consumption to look out for
- Task to pay to the government
- The risk of having your farm shutdown should it constitute any menace to your local community.

For Buying
- I guess nothing rather than just your funds to exchange for bitcoin.

Considering that, I'll rather buy and hodl. It's simpler mitigates all the above risk while, I stay anonymous.

Both has their own benefits .
I will go for buying the Bitcoins, as mining requires maintenance.
The electricity bill, need proper space and also clean when necessary.
Moreover Bitcoins are also illegal in my country.
So it would be better and safe investment if you buy Bitcoins instead of a mining set.
Hope this helps you OP to understand the situation better.

It is definitely not an easy task, not just bitcoin mining but no mining of any type is not easy. I believe that we should be focusing a bit more on what we know and how we can approach instead of risking it all for things that we have no idea. For example, if you are a person who has never fixed any computer before, then do not start mining or make sure that you have a trusted miner friend who could help you, because these machines keep having small problems all the time and if you can't fix it yourself then what are you going to do?

Pay premium price for getting it fixed and that is not acceptable nor profitable. So, it is really difficult if you have no idea how they work, you need to be on top of the game to make sure you could squeeze that last bit of ounce of profit from these machines.

I will not suggest you to mine bitcoin because its not really easy and every one can not mine bitcoin because mining process is so hard to understand,and yes you can buy easy bitcoin and everywhere,and you can chose any method to buy and save your bitcoin funds.you were thinking you can earn more bitcoin rather than invest and buy ,so also mining is so castly you need so many tools to mine and same fund you can invest and earn same bitcoin like mining.

From my point of view, there are two ways of looking at this dilemma.
On the one hand, there is mining Bitcoin, which is clearly not an easy task, since special computers are only needed to do it, and of course the use of specific ASICs that optimize the mining of said blocks and this without mentioning the costs of said computers, expenses of electricity consumption and more… and on the other hand the purchase of this one that on the contrary (I am not saying that it is easier) is more accessible since apart from the application of knowledge only a pc, internet and the desire to invest are enough, and more so at a time when BTC is currently in a bearish state, where investors see this as an opportunity to invest thanks to the volatility of this cryptocurrency, and when it rises This would have already taken advantage of this "offer" and it would increase profits significantly depending on the increase it obtained, so for my part I would prefer the purchase since it is the one that best suits my co-existence.

Buying BTC is a better option in m opinion since it is not easy to mine bitcoins now. The money which you will spend on buying hardware and then the insane electricity cost, that money can be used to buy bitcoin instead and keep it in the hardware wallet for the long term.

Mining is only feasible if you are living in a region where the electricity cost is very low , then you might consider to spend money on hardware t mine bitcoins.

Me too, I would go with buying the Bitcoins. But in the case of mining, if you’re going to be covering the cost of electricity and maintenance, then the others are not really that much of a challenge, is it?

Except in a situation where it is illegal in your country, in that case you should totally avoid mining, and just stick with only buying and holding. At least you are going to make your profit when the market grows. But what I like about mining is the steady profit that you’re always going to be generating from it.

Electricity cost depends on where you live of course, but the general increase happened all over the world so even in the cheapest palcesits not really that cheap. I always suggest that people should do solar panels or something like that in order to make some profit, they could make a good return on that via bitcoin mining if they use it as such, cheaper electricity combined with cheaper bitcoin costs, that would allow you to make a good money.

However, all of this requires you to be informed and experienced in such stuff, otherwise you will keep paying others to fix anything that goes wrong and the cost of repair will be too high to make it a sustainable business.

Obviously buying Bitcoin worth of 40k $ will be the best choice that mining Bitcoin. Because in near future it has a biggest chance to make a new ATH. And mining Bitcoin is also profitable but not like buying and holding it in current market situation.

Mining needs investment from the side of the miner in terms of location, ASICs, electricity, human resource, cooling and maintainance, to name a few. I dont think a bitcoin enthusiast has the willpower nor the moneypower to start this on a large scale in a few days time. But buying bitcoin takes only a few second. Most large scale miners are doing this full time, which I dont expect an enthusiast to be able to do and doing small-scale mining is not worth the time, the ROI will come with prolonged period and the person behind this will sink into debt by then.

Overall, buying bitcoin at low prices is always encouraged today. After the hashpower-wars became too intense for indie players to nudge in, mining has been something that the big corporations have kept in control.

I was looking for the answer to this question when I first entered this market. First of all, I had a passion for mining, and as a result of my long researches, I realized that mining would not be of much use to me, and it would be more logical to buy bitcoin with the money I had. Of course, there are people who see the benefits of mining. but it is an area where it is not possible for everyone to set up very nice systems and make mining that benefits everyone.

I agree with what many others have said.. There's so much more to it than just "I'll take $40k and buy a nice miner." You need to think about everything that comes with the miner (good source for keeping it cool...electricity costs..maintenance..etc)..If you aren't very knowledgeable in miners then I would take the $40k and just buy one BTC with it. If you plan to go the mining route then don't just dive in with that kind of money. Do your research and due diligence so you know exactly what you're getting into. Just my 2 cents..

I think for now buying bitcoin because the price of bitcoin is going down again this is a great opportunity for bitcoin investment.
I see this repeating itself like in 2018 if you miss this opportunity you will regret it later.

Bitcoin mining can prove to be really expensive. You will first have to spend money on buying a system with high configurations and then, get an uninterrupted internet connection. You will also have to make sure that no power cuts happen in your area which can prove expensive for you. Even when you have managed to get all of this, there are not many chances that you will be able to mine bitcoins successfully.

I would like to buy bitcoin without any headache..because I don't afford to setup for mining and will have to spend more than this

This question is important and tells us about the mindset difference of holder and Miner ,
Holder don't have anything but buy bitcoin at which he thought that it will make profits as holder we need to wait until the price breaks the buy price and then it will be profitable its like you buy a ground and you want to sell at higher price but Miner situation is different he makes profits every moment he dos not care what is the price the mining machines making bitcoins and he sell them for fulfill his daily expenses for example in this case you buy a house and give it on rent , your house is still yours but it makes money for you .

If you do really love to save up yourself on the hassle then its better to buy bitcoin and hold it for long term or the time you are planning out on doing so but if you do love to put yourself on some hassle or challenge then

mining would really not bad to consider but no dumb person would really be mining without having any profits to consider specially if electricity cost is high.You wont really be definitely doing such step

and would sensibly be thinking that its better to buy than to mine which there are lots of things to be considered if ever you do decide to mine.There's soo much thing to be considered on.

If you see the conditions in crypto are dropping, of course buying Bitcoin is better than mining. One Bitcoin means a lot for now. We must be able to take advantage of this opportunity. Mining is also the best alternative for adding Bitcoin balance, because we have to wait a long time to get to the bull market. But we will have to be patient for some time, as the crypto market continues to dump. So that we get the right price with lower value.

Buy now or later depending on your strategy. But I can advise you to buy and do DCA instead of expecting a bigger drop. DCA is the best advice for anyone looking to buy during this bear market, but if you like lump sum then that's fine too.

Mining vs Investment, it's just a choice that depends on each of us. I love investing, but that doesn't mean mining isn't profitable. But I have to consider the cost for mining equipment, it's definitely not cheap now considering the inflation has forced some producers to increase the selling price of their products.

also, consider if you have the patience to learn mining crypto. because if you haven't done this in your life yet, it would require time to study some fundamentals and you don't know if you're up to it. much easier if you will just buy some satoshis. though it is fine also if you venture mining, because you can also mine other alts aside from btc. but as i said, you need to gauge yourself if you can bear the tasks involved in mining.

I will also prefers buying bitcoin to mining it, I knew that for a long term perspective buying and hodling it will be profitable, whereas maintenance of the mining equipment plus payment of the electricity bills might incur some expenses for me and with thousands of miners makes mining more competitive to earn some reasonable amount of money in a long run, however if the price of bitcoin pump and soars be a lot of Profits can be made by buying and hodling it, now that the market is in bearish run a big opportunity to buy and accumulate using DCA .

Buying bitcoin is an investment while mining it is a business. Buying bitcoin in parts and making trades professionally is more profitable than mining bitcoin as the electricity cost is increasing daily. So for home users, mining is not advised.

I prefer to buy bitcoin, because buying bitcoin can be paid in installments little by little, it is very helpful for beginners who want to start investing in bitcoin, because most beginners want to invest but have little capital, whereas if mining bitcoin requires a good computer device and the price is very expensive, beginners do not allow it to buy it, so I personally prefer to buy bitcoin than mining.

I think you have just only made this difficult to understand , Mining is a investment also because you can keep holding the mined coins? so there is no need to rush selling them then this is a Business at the same time investment?
and also bitcoin can be a business because we can buy now and sell it just after the dump? that is considered as business.
so it is  business and at the same time investments?

but keep in mind that a lot of beginners buy bitcoin just because they want to make a quick profit and don't think about how long it will take to wait for the bitcoin price to reach its highest price.
maybe if the beginner has learned a lot about bitcoin, they will definitely prefer to buy and collect until they have 1 BTC and can be used as an asset for the future when bitcoin reaches the highest ATH after last year.
it is very difficult to give understanding to beginners to learn first before buying or investing in bitcoin when they already assume and think that bitcoin will provide big and faster profits.

It depends how much money you have and how many bitcoins you want to acquire. For mining bitcoins you need a whole setup that will cost a lot of money to start the operation with. GPU prices have been falling throughout the year and will be close to their original purchase price 1-2 years ago. In my opinion the computer hardware market is still a mess and I wouldn't be buying new equipment right now. With the new Nvidia cards coming out soon and also AMD is going to reveal it's new cards in November there is a lot of new technology coming to the market soon. If you really want to consider buying a mining setup I would look for a cheap used rig, but even the secondary prices are expected to fall once new GPUs are on the market. Then again it also depends on how many bitcoins you are looking for. If it's only a short term project to acquire a few Bitcoins it might be easier to just buy them at an exchange and store them rather than to mine them. But if you are trying to setup a whole operation to stay in the mining business long time don't buy Bitcoins. Another thing is that while purchase cost for rigs are falling with the crypto prices, the running costs are rising with inflation sharply this year. Make sure you have a cheap source of electricity for your rigs. 

Mining bitcoin requires enormous funds, from buying mining rigs and electricity costs. But if buying bitcoins is very cheap, we only need to buy small amounts such as from $5 to $20 per week then it feels very easy. And when we return to the bull market, we can sell it at a high price.

But investing is much easier than mining, with an investment you just buy and hold for a long time and don't need to spend any extra cost to maintain the holding. But in contrast to mining, you pay a lot of things everyday, it's a lot more expensive than holding and it will be more difficult if you just mine without selling them, maintenance costs, electricity costs, daily operating costs...There is a lot to take care of so mining is really a business and not just an investment.

I bought 1 Bitcoin at the price of $20k It remains one of my greatest assets . But if I didn't buy bitcoins with this $20k I would build a powerful pc for mining bitcoins. I think that would have caused me a lot of problems with electricity , high temperature , government restriction issues etc. But I'm in a much more relaxed mode now for buying bitcoins.

I never mined before and the very first time I tried mining with a particular platform I got scammed and since then I never find myself mined Bitcoin again. I think I prefer buying my Bitcoin to mining Bitcoin because of some of the difficult one could face with mining Bitcoin in terms of Electricity,  as in my country side we do not have constant Electricity here in Nigeria , plus the money it will me cost setting up my mining equipment. Therefore to save cost, I just buy Bitcoin.

well I have completely explain both sides, yeah buying coins is much easier but if we will look in the long term? it is indeed both are practically better for investors.

and besides it is depend in the availability and our location , there are places where electricity is really cheaper that we can earn or profit than Buying bitcoin.

But like what I said ? it will be depending in that said person if what she wanted to do with her money in crypto .

For now in current week i think so the Buying of BTC is better then the Mining of BTC as In mining all depends upon the hash of block. As BTC is below its realized price so that the time to grab as much as you can. For the mining point of vie i think everyone should take a look on this graph the current hash power is 222 M almost 13M low from the ATH.

https://i.imgur.com/cp1WYHU.png

at 20k? you would buy Bitcoin than mining this? or because you only have small funds and just buying small part for at least having bitcoin in your wallet?


I support yours because mining nowadays is indeed having a little chance of earning than buying the coin and keeping it on your wallets.

but you can have a whole bitcoin because of high price, maybe a chunk is enough to earn and gather?

I think more profitable with buying bitcoin although with small fund and keep holding in wallet without need to pay electricity than used small fund to buy mining tools, actually small fund just get low budget for buying mining tools except need to pay monthly electricity. But and invested with bitcoin although small fund we don't worry about payment bill electricity every month, I think need bigger fund support for mining depending several items with mining tools have expensive price. Investing in bitcoin we can sell anytime we want if bitcoin reaching higher price and seems faster to get back our capital than used to buy mining tools.

Buying is more suitable than mining if you have the necessary funds. Because if the price of Bitcoin falls further, then mining has has to face  more losses. On the other hand, money spent on various equipment can also be another cause of loss. Considering the current time I think buying is better than mining.

Mining is better if your country is electricity friendly meaning the cost of mining would be so much low and you can still profit. I tried mining back in the years but since our electricity is much expensive than others? i stopped the  operation and just focus in Buying bitcoin and some altcoins that I think will help me out.

What matters are the time, energy and prospect/plan of the person? Some might want to mine for the money, but mining is not like before, which discourages many people. Miners of many years ago earned more in BTC, but it is not really worth the time and the energy it consumes these days.

Having said that, in my case, I prefer buying Bitcoin to mining. Yet, I will not just buy it, I will buy it at the right time after carefully speculating its bullishness. If one could sell when it is bearish and always buy when it is bullish, many profits would be earned more than the miners.