BTC Mining vs Buying

[barneystinson]

Is it better to get BTC via mining or buying now?

It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?

If yes, any suggestion? There are quite many cloud miner in the market.

Thanks.

I think the answer to this question would depend on the your current financial capability. If you dont have enough money to set up mining rigs then you can go for small buys of btc. But if you can set up rigs, then go for it. Less the hassle and maintenance and steady profit unlike with trading that has a high volatility rate.

[xiaopang11]

I prefer to buy bitcoin directly.
Because mining bitcoin requires a lot of capital investment.
I don't have enough money to buy equipment to mine bitcoin.
It takes time to dig into bitcoin.

[sherenikaw]

You better do them by buying or trading. Its no hope for mining bitcoin but if you really wants to mine, go for altcoin mining. Don't trust cloud mining, try them at your own risk.

[cryptojohn9]

Mining is way much more complicated and you could lose your investment, considering the market difficulty. Investing, that's less risk.

[brenden2008]

Mining needs more capital, miner prices range from 1.2k onwards, difficulty increase every 2 weeks, meaning you are getting lesser btc every 2 weeks, not forgetting the massive amount of miners already out there and worse to come, even more miners will be delivered this 2 months and more powerful miners are being said to be introduced end of the year.

Makes no sense to mine with a few home base units unless you have free electricity. I feel even cheap electricity would be suffice with the returns from mining becomes so little.

Rather you buy on dips gradually and hodl on for some period of time.

[Gracie12]

I think I can dig mine and buy some BTC, but the BTC obtained from mining will not sell BTC. I also feel that I can hold BTC for a long time and get a good profit.

[VeeraS]

to do mining, you will need capital too. you have to have a sophisticated computer and great power. I think mining can still be very profitable for many people. as long as you can work around it to pay for electricity cheaply.

[drm]

You need to invest your time and money in hardware and electricity etc.
Then you have to get a return in a certain time window before your hardware becomes obsolete.

I'd go with buying.

[nivanis]

Before you decide to do BTC mining you need to take in consideration price of electricity as well as hashing power and cost of the rig.

You can use this online calculator to get an estimate:
https://www.cryptocompare.com/mining/calculator

[sampath19]

BTC mining is not profitable in this days and it need more time. so if you can buy a BTC that's  the better thing i guess. 

[BelieveInBTC]

I would recommend any newbie to start with doing some research. Then buying BTC seems as the only reasonable choice for now. Buying is way more difficult because you have to order ASICs from Bitmain, prepare a room with good air conditioning and most importantly have cheap electricity. A lot of people try to mine at their work or somewhere where they have "free" electricity but these are usually GPU miners which are smaller and more quiet. Buying was the most profitable investment in the last year. It will probably be the same this year.

[krishnaverma]

Mining is way much more complicated and you could lose your investment, considering the market difficulty. Investing, that's less risk.

I agree to this, I have enough savings and income  (thanks to bitcoin investment) to be able to start a small set up for mining bitcoins. But when I try to search about the equipment required, I fail to understand the terms used. I can still go through those tutorials and perform the set up but if some parts get damaged, I will not be able to repair it.

[aleksej.rozhkov]

These are different things because when buying to invest you need your own money and getting nothing to do at all and just wait but invest in good video cards.

[cosmoo]

When you buying Bitcoin - you spend minimum of your time. Preparation of mining - it's very difficult and long procces. And than you need to keep an eye on this. Better trading and investing.

[pandanpanda]

Is it better to get BTC via mining or buying now?

It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?

If yes, any suggestion? There are quite many cloud miner in the market.

Thanks.

Mining can break down, much less there is no way to know how high or low the Bitcoin mining difficulties can be so that numbers can drastically change. If you want a success than you should definitely go by buying Bitcoin instead of mining them.

[gajusivok]

I think mining is profitable then buy.

[yj300316]

Is it better to get BTC via mining or buying now?

It was no longer profitable early this year for mining. However, with the recent price surge, does mining becomes profitable now?

If yes, any suggestion? There are quite many cloud miner in the market.

Thanks.

careful with cloud mining, there are some of them are scam.
if you want to mining, i suggest you to mining in the pool, with your own mining tools.

[marjil]

Mining has an initial high cost for the hardware required and initially you would have no return. But as time goes on you will gradually increase the bitcoins you mine and eventually break even before you start to make a profit. Buying bitcoin on the other hand means that you get your bitcoin straight away at the market value with no other outlay. So you have to weigh up whether you want "exact" rewards today or potentially much greater rewards tomorrow.

[asdnguyenthanhtin]

I think mining now is too late

[rampage101]

If you have enough money to buy expensive hardware for mining you can try. But take into account the still high fee for electricity.