BTC - Buy it OR mine it...

[NetDetective]

Jack and Jill have a bathtub full of 20 Dollar bills that some old Baby Boomers left them when they kicked the bucket.  The contents of that bathtub total 5,000 USD.  Jack has a good Job with plenty of flexibility while Jill works from home.  They have no children with no plans to have any.

Jack comes home after reading all the news about BTC's soaring prices.  He says to Jill he would like to get involved and see what BTC is all about first hand.  Jill turns around and says i heard about it as well... I want to trade the volatility during the day.  Jack says he would like to run a Mine. This would allow him to generate passive income. 

How would we best accommodate Jack and Jill in the above scenario?

If you own a large amount of money to set up your own mining rig under free electricity or at least cheap I'd recommend you to do so,
if you don't just skip the part of mining and start holding btc.

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[ismadanniel]

buy and hold is more better because if u mine the risk will be more such as broken gpu,increase diff,pay electricity and etc. while buy and hold  u get directly to your wallet

[Malaya]

Very likely the best scenario is the most boring and simple one. Just buy Bitcoin and hold it for as long as you can. Your money could be worth tens or hundreds of times it's current value one day.

I agree on this. There's no investment that gains profit instantly. Better to buy, hold and allow it to grow. I think that's a good strategy to start than to mine. A lot of people new to bitcoin think the same and they even go in to this idea to choose whether to buy or mine. Practically speaking for you to see how bitcoin really works, but it first.

[vqscyxuo]

My advice is to try to get through bitcoin mining. Because in the market, the price of bitcoin has been affected by many factors, and the volatility is intense. No matter what kind of encrypted currency, early miners are the people who make more profits.

[Mevz]

Mining is more effortless when its done i suggest it to them, unlike buying BTC you can't buy when the price is to high and you can't get more profit with that. Jack is right with his plan its his way to be effortless in saving money.

[paul00]

I think this scenario should depend on the risk portfolio of jack and jill since decision making on investments should be based on the appetite of the person as well and not solely on the values that it may generate. Both investment would earn great amount of return in proper time and management and it should be up to them on how much risk can they take for they can also diversify their investments if they want to.

[DannaWonder]

At current price I think mining is a more intelligent way to have your own bitcoin. If you are going to buy bitcoin for $10,000 and keeps it until the price goes up then your bitcoin will not multiply. When you invest $10,000 in mining equipment and start mining then your investment for a one bitcoin will definitely grow since mining will give you rewards in BTC.

[Rao777]

Jack and Jill have a bathtub full of 20 Dollar bills that some old Baby Boomers left them when they kicked the bucket.  The contents of that bathtub total 5,000 USD.  Jack has a good Job with plenty of flexibility while Jill works from home.  They have no children with no plans to have any.

Jack comes home after reading all the news about BTC's soaring prices.  He says to Jill he would like to get involved and see what BTC is all about first hand.  Jill turns around and says i heard about it as well... I want to trade the volatility during the day.  Jack says he would like to run a Mine. This would allow him to generate passive income. 

How would we best accommodate Jack and Jill in the above scenario?

Don't waste time of purchasing minning machine and then mine the bitcoin noo. Buy Bitcoin today and hold. Becoz Bitcoin fly like a rocket. If u go for mining it will take lots of time and difficulties.

[Taki]

Very likely the best scenario is the most boring and simple one. Just buy Bitcoin and hold it for as long as you can. Your money could be worth tens or hundreds of times it's current value one day.

I agree don't complicate yourself by mining Bitcoin or even bother investing in cloud mining which just all turned to scam, just buy Bitcoin hold it and sell when you are in profit, but with to many people holding bitcoin, the price now is way to high than it is a month ago.

All this story is complicated. Personal mining admitted as not profitable way to make bitcoins from the beginning of the year, not it came the are of mining farms. So a agree with you two - they both need to concentrate in bitcoin investment or one of them would invest in BTC and other one in some altcoin by his choice.

[HasHe]

I would say that Jill would be smart enough since buying bitcoins and either holding it or trading it seems to be the easiest way nowadays without facing any complications.Jill could either continue to trade or withdraw whenever needed.

But Jack would have to initially invest a huge amount for buying powerful mining ASICs and he would have to see whether cheap electricity is available to ensure good profit regularly.Also,he would have to invest some more for cooling equipments.More over,day by day,bitcoin mining is becoming difficult.If the government some day bans bitcoin as well as its mining,then he would have to sell the mining equipments to some other and it would not be an easy task.

So,just buy bitcoins and stay cool.

[ss890]

I would prefer mining because that is what makes sense in all this. Though the initial cost of investment is large but that is for specific period of time only. The difficulty and all the stuff will change very other 4 years so we don't have to worry about it either. We can always have the upgrades and the stuff in place to compete the market. I started the ether mining (GPU based) at the start of this year and never sold my Ethereum upto this point. When I mined I had the ROI of 12-15 months and after the prices was increased drastically I hit the break even point in no time. So yeah mining could be best option if you want to do it of longer period off time. Jack will win lots of rewards if he do it seriously. Jill will have ups and downs lot of time as the market is too much volatile.

[Deathgamer]

Buy btc or mine it?I rather choose to mine it because its more challenging for me and I am so happy if I earn btc in mining rather than to buy it.But if you have alot of money then its better to buy it but its not challenging at all.Mining is the best option for me because in every single bitcoin that Ive earn it really counts and I am so happy to have it.I will never stop mining bitcoin because it helps alot to me financially because I have a financial problem but its okay now because bitcoin is here to support my daily needs and expenses and also to get rich soon

[aoihs00]

Jack and Jill have a bathtub full of 20 Dollar bills that some old Baby Boomers left them when they kicked the bucket.  The contents of that bathtub total 5,000 USD.  Jack has a good Job with plenty of flexibility while Jill works from home.  They have no children with no plans to have any.


Jack comes home after reading all the news about BTC's soaring prices.  He says to Jill he would like to get involved and see what BTC is all about first hand.  Jill turns around and says i heard about it as well... I want to trade the volatility during the day.  Jack says he would like to run a Mine. This would allow him to generate passive income. 


How would we best accommodate Jack and Jill in the above scenario?

Jill will take time to understand the market and but he will start earning passive income as well if he gets his hand over the crypto trading in very perfect and professional manner. He can systematically invest into it and grow the money over the time without doing much except keeping an eye on the market ups and downs thats all.


In case of the Jack, he will have to build up some good amount of the credit before he can start investing into it. He will have to gather money and then buy the hardware, electricity and all the maintenance stuff t be managed later in the time. Basically he will have some smart and hard work involved and he will need to give more time than the Jill at first glance. Jack will have to wait for at least 1 to 2 years for reaching his ROI and then afterwards he can start earning good amount of money which will be his passive income.

[lovela]

Investing Bitcoin is better than mining especially if you're not computer hardware geek and most miners has a good background in computer hardware and maintenance.
Bitcoin investments will only require money and get money while doing nothing.

[paolo099]

mining doesn't worth the effort at the moment, you could invest the same amount of money you would use to start mining to buy directly BTC.
Holding is the key, BTC is a long term investment, it's a different story if you want to mine altcoins (but the future of alt coins still rely on BTC market value).
in a nutshell: buy BTC, hold and enjoy the ride!

[dothebeats]

Jack should first consider the possibility of running a cryptocurrency mine than aiming on getting a bitcoin minefield. Why? A GPU farm offers great flexibility when bitcoin is in a slump, whereas in bitcoin, you'll need to shell out $3000 first in order to get a miner plus the fact that 1TH/s in today's rate wouldn't be sufficient to give the both of them a good life with all expenses paid for their needs. As for Jill's case, since she just heard about day trading fairly recently, I'd still keep my job first and study about bitcoins and the market next. Risking everything with you being ill equipped is the worst thing you can possibly do in your life.

[coolcoinz]

Buy it. I think it's the easiest and safest way to generate income. You can divide the money between exchanges to minimize the risk and start trading.
A skilled trader can double the money in a month. Of course you'll never be able to make only good decisions, sometimes you'll lose some but it's not that hard to make 10% a month. Following some pros on tradingview can help you a lot, but don't think they're 100% right. Last week most of them were expecting a Bitcoin correction and it didn't come. Instead we went from 9 to 11K in a day  Leave the mining to people with a lot of money, space, and cheap power.

[Grayfox01]

Some great advice here.  J&J thank you for all the tips.

Both Jack and Jill will keep their day jobs.  The main consensus is to to buy and hold BTC.  Jill will take a portion of the funds and play the volatility. Taking a portion of any profit to HOLD.  Wash and repeat.  Any losses will have to be subsidized by J&J's normal income.

IF the profits arise in a timely fashion, as speculators believe they will, then that should provide initial funding for a mining operation for Jack down the road.  Jacks plan would be to start small while increasing capacity steadily and consistently.  Reinvest in the Mine with generated and earned BTC. 

In theory it sounds nice but most of us should know that Murphy's Law steps in and stomps on nearly everything.  So... lets see. 

Why does it take so G.D.L. to move USD'ers from a bank into an exchange?  A WEEK!!!  Really!  I thought this train was moving at internet speeds not using the Pony Express. 

[Virtual miner]

Jack and Jill have a bathtub full of 20 Dollar bills that some old Baby Boomers left them when they kicked the bucket.  The contents of that bathtub total 5,000 USD.  Jack has a good Job with plenty of flexibility while Jill works from home.  They have no children with no plans to have any.

Jack comes home after reading all the news about BTC's soaring prices.  He says to Jill he would like to get involved and see what BTC is all about first hand.  Jill turns around and says i heard about it as well... I want to trade the volatility during the day.  Jack says he would like to run a Mine. This would allow him to generate passive income. 

How would we best accommodate Jack and Jill in the above scenario?

First of all I think the story was quite unnecessary the title itself quite clearly explains your question. The answer is upto you. If you can bear the cost of buying number of ASIC's and other hardwares required in mining. Go with it but remember the technicalities and difficulties involved. Also do consider the monopoly which certain miners have. While Investing is all upto your market strategy as it is clear from your story you want trade volatility of day so you would require a good strategy for analyzing every altcoin.

[CryptoParadigm]

mining doesn't worth the effort at the moment, you could invest the same amount of money you would use to start mining to buy directly BTC.
Holding is the key, BTC is a long term investment, it's a different story if you want to mine altcoins (but the future of alt coins still rely on BTC market value).
in a nutshell: buy BTC, hold and enjoy the ride!

Very true dollar for dollar my BTC purchase has done better than my mining both at Genises cloud mining and my own $3800.00 PC... but no regrets!
if few thousand is all you have go right down to BTC