I have seen experts spout numbers and profit calculators, thumping on their dead mothers grave that you can't make a profit buying this or that miner. I myself was guilty of this. Then boom crypto prices go crazy and who looks like the fool. Some say its better to buy and hold but who can do that?
If you are holding BTC and it takes a 50% dump most get scared and sell. If you got a miner you just keep on mining at a slight loss sometimes due to electricity cost. You save up your coin and then when the market takes off you can then sell. If you have the stomach to hold cryptos in a free fall and then not sell when going back up, all the more power to you. Most don't have that kind of mental will.
Very well put, +1
Add to that, my issue on Trading and why I mine instead: When do you buy followed of course by, when do you sell?
Sure if I had bought a few BTC back when I started mining in 2014 at $600 and held they'd be worth a fortune right now. btw: Total out-of-pocket USD I spent to get started back then was $8,500 from Feb to mid-April 2014. After that revenue from the farm itself has easily repaid the initial cash outlay and then paid for all expansion/upgrades with a sizeable amount on top of it each mo for new toys or just accumulating.
Buying BTC right now at $5,880 per Coinbase to hold hoping it hits at least a few hundred more before selling (then subtracting tx fees)-- um, not gonna happen...
Meanwhile my ~245THs farm brings in well over $6,500/month. Lately I've seen my Dashboard bouncing around to report over $8.5k/mo depending on the spot price of
BTC! As you said, we miners just keep accumulating coins no matter the price and sell as needed. Farm is as big as I need for now with the last upgrades (2x new A741's) long ago paid for so for the past few months have just been mining away
Me likey mining a lot!!!
To get back on-topic, while I would never go the eBay/Amazon et al route I *do* see why some folks are willing to pay the Premium price despite no Factory warranty being possible.