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Author Topic: Better to mine or to buy ?  (Read 118 times)
valminefirst
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February 16, 2018, 01:38:33 PM
 #1

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley
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February 16, 2018, 01:41:36 PM
 #2

Depending on the coin, the price of electricity, the time you have to dedicate to mining, the type of coins you have in mind, the views of the people that share your house or garage, .... If you are in doubt, buy. Mining takes time.

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valminefirst
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February 16, 2018, 01:50:32 PM
 #3

I already have a miner, I mine everyday.
I'm making 1 Acoin a month, so is it better to sell this 1 Acoin and buy Bcoin with. Or directly mine Bcoin ?

Acoin profitability > Bcoin profitability
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February 16, 2018, 02:32:38 PM
 #4

The best move imo is to stick with mining Acoin because of the higher profitability. If the difference are so minimal like less than 5% I would switch to mining Bcoin. Risks are still high with mining Acoin though because conversion rates could suddenly go down. If you strongly believe that Bcoin would grow this year then go for it I think that's a reasonable decision why others still mine different coins.

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February 16, 2018, 02:33:34 PM
 #5

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley

Your best bet is to join a mining pool - they switch miners to profitable coins automatically for you, depending on the difficulty and the price.

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February 16, 2018, 03:09:19 PM
 #6

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley
depending on what you want, but it would be great if you have both. I mean, you can mine Acoin and you can buy Bcoin. That way you will have both. Because basically the advantage can be obtained from the highest coin prices.
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February 16, 2018, 03:10:39 PM
 #7

I think it is better to buy any coin rather than mining not unless you have lots of money to pay for the electricity. I don't think it is practical to mine if you're after the profits you get from mining, instead of paying it with the electricity you used for mining; better invest it and buy it with the coin you think will be a good coin in the future.

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February 16, 2018, 03:11:22 PM
 #8

Is anything stopping you from doing a little of both, OP?
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February 16, 2018, 03:18:51 PM
 #9

I think you should stick to mining Acoins since what you've said is that the chances of gaining profits is high but if by any chance that its rate starts to decrease then i think you should switch to Bcoin. As long as one of those coins can recover the expenses used in mining, one particular example is its electricity, then you're good to go. If not then i guess the best option here is to just invest on it and see where it leads you to.


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Count Basie
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February 16, 2018, 03:53:54 PM
 #10

Mining Bcoin takes too much time, and you spend more money than you earned Tongue.
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February 16, 2018, 04:26:54 PM
 #11

If you have good sources like good graphic cards or low cost electricity you can mine.But in these days buy low and sell high better than mining, Smiley
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February 16, 2018, 04:28:06 PM
 #12

At the current rate of bitcoin's difficulty, it is better to just buy and hold rather than buy an ample hardware capable of hashing bitcoins that gets you profit. Bitcoin miners have a lifespan of 6 months - 1 year, and that is assuming that the machines are operating on ideal conditions and properly maintained at all times. Imagine the work needed on running a bitcoin mining farm: you need to hire people to look over your machines when you're not around and get a place with sufficient power load in order to not face accidents due to overloading.. it's just complicated for a newbie investor to sum it up. Oh and have I mentioned that due to price fluctuations, a single miner might not see any ROI even if you leave it open for 24/7? Roll Eyes




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February 16, 2018, 04:31:35 PM
 #13

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley
I will personally take the risk and mine the coin with the biggest potential, if you take the time to talk with miners most of the time you will receive the answer that the most profits they ever got out of bitcoin mining was mining bitcoin when it was not profitable, they were losing money because of the electricity costs and the low price of bitcoin but now those coins have the greatest ROI because of growth in the price, so if you believe in the potential of a coin mine it you will not regret it.

Am I spamming? Report me!
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February 16, 2018, 04:44:55 PM
 #14

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley
What's more cheaper in your shoe? buying Bcoin with your profit from Acoin or directly mining the Bcoin? With this situation, I'll go with mining with more profitable coin which is Acoin and I'll use a portion of that profit from buying that Bcoin that has an edge in the future. In this move, you can still have two coins at the same time and you can't sacrifice any of them unless you are really so encourage to mine bcoin but you have to suffer the consequence which isn't that profitable as of the moment.
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February 16, 2018, 04:48:00 PM
 #15

I am doing two of them. My choise is trade better. Because mine is a difficult work and need money.

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February 16, 2018, 04:50:09 PM
 #16

Hi everybody,

I'm asking myself a question for 2 weeks. I'm mining a profitable coin (let's call it Acoin) and I want a Bcoin that has a lower profitabilty but I think it will grow a lot in this year.
Is it better to mine Bcoin ? or mine Acoin and buy Bcoin with the Acoin mining ?

Thanks for your opinion Smiley
Yes, I think that depends on your investment condition and strategy. With that determination and analysis, you can invest long-term in Bcoin while maintaining Acoin mining. I think keeping both will be most profitable.
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February 16, 2018, 04:55:56 PM
 #17

Will be better if you buy the altcoin and you hold your altcoin have you bought than you buy the mining altcoin, you need many time and you have alwasy on time to keep your mining tools, because one day you miss it, and you will lost your money form mining for one day, but it different if you buy altcoin off all your money, you can hold your altcoin and sometime when the altcoin touch the high price you can sell it and you will get many profit than you try by using mining way in looking for the bitcoin.

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February 16, 2018, 05:04:08 PM
 #18

Will be better if you both mine and buy, mine when you dont have money buy, cause if you buy, it would be a great help for the coin, instead of just mining it then selling it. Thats resultsy to dumping of the coin. But its up to you whats your plan?

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February 16, 2018, 05:04:36 PM
 #19

Hodl coin is better. Mine coin is very risk
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February 16, 2018, 05:07:24 PM
 #20

For me I prefer to buy, If I already have the money to buy a Bitcoin then I will do it especially when the market is Red instead of spending my money to buy couple of hardware for me to be able to mine coins, plus the electricity that I will be using. so for me if you already have the means just buy, saves you time and effort.
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