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Author Topic: To mine or invest?  (Read 4651 times)
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October 19, 2017, 10:49:10 PM
 #41

Hey, total newbie here looking to break into collecting coins lol

What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
Mining is also an investment, so it just depends on you and how well you are willing to go about any type of investment you wish to do. So many people believe in just buying and holding for long looking forward to the increase in value. However, with mining and a solid set up most especially in a place with lower electricity fee, mining can be profitable.

Once you can have your return on investment back, the rest is just free coins every now and then until you decide you want no more. Mining comes with its own cons too so do not think it is just that easy.
Exactly there are so many advantages attached with disadvantages that comes in a pair when you talk about mining. Mining is really interesting and profitable but it just need to be started in an area where electricity cost is low. You only have on additional investment of electricity and if you find so low, believe me there would be so much better results, even more than trading.
These more profits are only coming to you when you are doing it with some good investment. And there is thing on this forum, that if you get some good amount of electricity free or you get it at very low price than other guys in town, mining, then you are kicky and then you are more open to profits than in other case.


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October 22, 2017, 01:24:10 PM
 #42

Its almost the same, you buy miners and that's actually an investment. Buying Asic miners is more risky than GPU miners. When the time that ASIC are no more profitable you can't sell them to gamers, while GPU can.

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October 22, 2017, 02:14:50 PM
 #43

Hey, total newbie here looking to break into collecting coins lol

What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?


Your question is wrong.

Mining is an active investment.
Buying coins and holding or trading them is a passive investment.


Should you mine. 

Yes if you have cheap power.
Yes if you want to stay off the grid.
Yes if you can get rid of heat and noise issues.
Yes if you have some tinkering skills.

Should you buy some coins and hold them. 
Yes if you  understand the advantages of buying and holding.
yes if you don't mind doing everything up front and paying taxes.

If you can join coinbase.com you can buy some coins and just hold them.

Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
I mine alt coins with https://simplemining.net I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 22, 2017, 02:20:01 PM
 #44

Investing is by far the better choice for profit but mining is more fun and interesting so it depends on what you are looking for,

I am looking for a new bounty campaign!
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October 22, 2017, 03:46:09 PM
 #45

For nwbie like me, i just focus on mining because i don't know whole the system of bitcoin. So, i read the forum more often and ask if i don't understood. Because i think personaly is too early for investment, it will be a lot risk if we don't understand about bitcoin.

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October 25, 2017, 06:42:59 AM
 #46

If you have good risk capital I will said you should go for investment instead of mining and the investment should be in the five most invested coins. Mining is good if you can buy s9 and good gpu for altcoins, you can only get good profit if major cost of operation in mining business which is electricity is cheap since this always take away all your profits if you did not get it cheaped. You don't power investment you only need to spend time to learned how coins are been traded and put in your capital and watch your investment growing.

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October 25, 2017, 09:36:11 AM
 #47

Well if you have a lot of free time why not try both mining and investing. Just consider the fact in mining you'll be forced to consumer a lot of your time at your time at your computer because you'll need to be alert at every transaction you make and considering the fact it will be costly for the materials and equipment and also the cost it will affect on your own electricity. Well if you are business minded person you much prefer investing right, if you know you have what it takes to be a risk taker at buying and selling and you have the knowledge and analytical skills to grasp every situation changing in the market trend and also a willing person to accept that there is always a possibility that you will suffer lost in your investments. Well it will depend upon your attitude and you perception towards what you know what you like and what would you know you could excel on.

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October 25, 2017, 09:43:21 AM
 #48

if you have proper hardware, go for both. or else, stay with investment.
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October 25, 2017, 02:56:53 PM
 #49

Hey, total newbie here looking to break into collecting coins lol

What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
The most effective way to start to break into collecting coins.

Invest in bitcoin is the most effective way to start, in my observations these days bitcoin and altcoin continues to fluctuate during tradings, try to benefit the situations like this, I think a lot of profit gap you can get.

Some people also take advantage of investment.
By choosing the type of altcoin that often increases the exchange rate, financially, the investor's profit will increase. Because the exchange rate continues to increase against the local currency.

However, despite having many financially goals, any investing isn`t without risks. If a person invests and his business fails. Then, can`t get a profit, but the loss will be earned.

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October 26, 2017, 02:17:36 AM
 #50

I believe that going for altcoins likeb Monero , Ripple or Ethereum is a good way to start getting some gains, but you will need to get into cryptocurrencies trading if you want to get quick money
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October 26, 2017, 11:13:24 AM
 #51

For me both method is great, in mining method you need to consider lots of things before you start to build your own mining site like electricity rate in your country, your capital for buying hardwares, place that your mining hardware to be placed but if you can not provide that there is online mining sites or cloud mining but it is too risky than building your own mining site.
I agree that investment is a easiest method to earn money, there is nothing to do just to wait for your profit but it was a risky method also but the return is very huge profit.

I agree with you on this, both method is great. Mining may earn less but it is stable and somehow predictable while investing is not for the faint-hearted Smiley

Invest wisely, small step at a time and learn from there. Don't put all eggs in one basket Smiley

Yes I agree also, that would be the best answer for this topic. Both is the same in mining you will earn a little but always rolling without risk. In investing you can invest bigger to earn bigger but theirs a risk for that if, every invest you can't predict if you will be earn or you will be fail.
So its just a matter of how you work with that two choices, and it is matter on your techniques and strategy so that you will earn either of the two.

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October 26, 2017, 12:28:16 PM
 #52

Better to invest. Not in any cloud mining. Just buy as many bitcoins as you can (or as much fractions of it), besides collecting free coins from available sources whenever you find time.

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October 26, 2017, 12:54:11 PM
 #53

Well if you don't want to experience any technicalities and don't know much more about any minings well you can start first by investing no need to stress yourself about the best types of equipment and get fixated with your computer specific parts if it is compatible with there and that you can start first at learning the basics before going to the complex ones.

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October 27, 2017, 04:49:52 PM
 #54

The most easiest way is just to invest in some alts: etherium, waves, wings, monero, dash or others that you will like!

Maybe Bitcoin Cash? If you buy the S9, you can also mine Bitcoin Cash.
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October 27, 2017, 04:51:25 PM
 #55

if you have enough money to buy mining rigs and enough money to buy bitcoin investment then why not try both as like you are hitting 2 birds in one stone, you mint coin from mining and put it on a trade and the other advantages, it is more challenging on both things, and you will develop more analytical and troubleshooting skills for mining and trading.

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October 27, 2017, 09:48:31 PM
 #56

With POS becoming more common do you think mining is on a downward trend?

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October 28, 2017, 03:10:54 PM
 #57

Better to invest. Not in any cloud mining. Just buy as many bitcoins as you can (or as much fractions of it), besides collecting free coins from available sources whenever you find time.

I agree with your supposition as of writing especially so that Bitcoins have so much potential in the market nowadays. Of course, my opinion on this varies and highly depends on the performance of Bitcoins. But just this time, I believe there is power in investing more on Bitcoins by buying when prices are failing because of its capability to skyrocket within a week or two. Thus, you are assured that your money's worth is returned back to you and so much more.

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October 28, 2017, 03:14:18 PM
 #58

For startups, it is best to first invest by accumulating your Bitcoin wealth little by little. Of course, you cannot do this in one instance because of Bitcoins' value now. But soon enough you will recover what you have poured in and so much more. As I have said earlier, buy Bitcoins and take advantage of losses - big or small - because it is when you are able to purchase more of it.

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October 28, 2017, 06:05:01 PM
 #59

Invest part of your surplus on cryptos with part in bitcoin and a part in the idea or mission you feel could grow or want to support. Don't jump all in as this is very fluctuating till now. Mining is not good as the hash rate are gone crazy.

Sourabh Jain
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October 28, 2017, 10:50:38 PM
 #60

Building a rig to mine is already an investment.  A China made decent miner costs around 2,000 USD and that is a considered investment.  Investing or buying is liken into trading stocks.  A proper knowledge and understanding would be fine and patience atleast to make it atop.  So, if you have the money to spend in mining... Do so... it is up to you if you have the patience to engage in any both of the way possible.

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