Why buying mining hardware IS almost always BETTER then JUST investing.

[aynstein]

I've read different opinions and I think many people are missing the point.

The argument about buying mining hardware being a waste of money & almost always barely breaking-even is missing one of the core concepts of bitcoin. The cost of electricity is often presented as the determining factor if a mining operation is worth the investment, or if it's better just to buy bit coins, still missing a fundamental idea behind bitcoin, and it's value. Regardless of your electric costs or even profitability I believe it's worth it as a hobby and if you have money invested I believe it's necessary.


Purchasing hardware that breaks even is a good investment especially if you're going to investing in bitcoin, the reason that it's a good investment is it will help add value to the bitcoins you purchase as well as the ones you mine. We need miners, many miners. If mining becomes something that very few people can afford to do or are not interested in doing bitcoin probably will not survive. It will become susceptible to manipulation by these few power players. Purchasing mining equipment is investment in your investment. Okay maybe that's meta-but my point is this don't forget there's more to the value of bitcoin then an exchange dollar amount. Bitcoin requires many participants to remain strong. If you choose not to mine thats ok, but if too many people choose not to, your purchased bit coins will have been a huge mistake.

Maybe just barely breaking or a slight overall loss to mine is not really a loss, as it helps ensure your investment in bitcoin gains value. Don't forget that.

I am mining at a loss, but it's been a fun experiment, and I know I am helping the value of the coins I purchased.


This is just my opinion I've got lots of dumb ones and occasionally I have a good one. I think this is a good one.

Or maybe I am just trying to make myself feel better.


Regardless, Bitcoin is not a spectator investment. Stay involved.

Cheers.

 

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[Wipeout2097]

However it is a GOOD thing to have people losing interest in mining for a while. Forces hardware prices to come down and slows down the stratospheric difficulty for a while (I hope  )

[ekiro]

You can read opinions or you can try it for yourself. Go out and buy some miners. See where that takes you. If it breaks even, let me know.

At the moment there isn't anything, ANYTHING, available that will yield positive ROI (other than buying chips and building the miners yourself).

Let the market level out for the next month or two so we have a better idea of where things are going.

[demonmaestro]

You can read opinions or you can try it for yourself. Go out and buy some miners. See where that takes you. If it breaks even, let me know.

At the moment there isn't anything, ANYTHING, available that will yield positive ROI (other than buying chips and building the miners yourself).

Let the market level out for the next month or two so we have a better idea of where things are going.

DID you READ ANYTHING the OP said. It don't matter if the mining hardwar makes ROI or not with out miners there is NO bitcoin.

[nwoolls]

DID you READ ANYTHING the OP said. It don't matter if the mining hardwar makes ROI or not with out miners there is NO bitcoin.

Did you? He mentioned several times basing his argument on buying hardware that either breaks even of comes very close. There is no such thing currently available for sale.

Purchasing hardware that breaks even is a good investment especially if you're going to investing in bitcoin

Maybe just barely breaking or a slight overall loss to mine is not really a loss, as it helps ensure your investment in bitcoin gains value. Don't forget that.

[wunkbone]

No please, you got this all wrong.... Investing is always BETTER!!!

[reactor]

DID you READ ANYTHING the OP said. It don't matter if the mining hardwar makes ROI or not with out miners there is NO bitcoin.

Did you? He mentioned several times basing his argument on buying hardware that either breaks even of comes very close. There is no such thing currently available for sale.

Purchasing hardware that breaks even is a good investment especially if you're going to investing in bitcoin

Maybe just barely breaking or a slight overall loss to mine is not really a loss, as it helps ensure your investment in bitcoin gains value. Don't forget that.

Exactly.  Everything on the market right now = hardware vendor makes money, miner loses money.  There will always be people sitting on hardware and cheap electricity to "keep the network going", dogpiling more hardware on top of things and the meteoric rise of difficulty is where mining shot itself in the foot.

[sidehack]

No sales pitch for cloud mining yet?

For me, actually having the hardware to play with is the most fun part. Every coin I've gotten, bought or mined, was turned around to buy more hardware and that's yielded hundreds, maybe thousands of hours of entertainment watching things work, fiddling with configs, whatever. That's worth it to me even if nothing ROIs, and I like knowing my hashes help out the pool and the network.

[aynstein]

You can read opinions or you can try it for yourself. Go out and buy some miners. See where that takes you. If it breaks even, let me know.

At the moment there isn't anything, ANYTHING, available that will yield positive ROI (other than buying chips and building the miners yourself).

Let the market level out for the next month or two so we have a better idea of where things are going.

DID you READ ANYTHING the OP said. It don't matter if the mining hardwar makes ROI or not with out miners there is NO bitcoin.

You seem to be the only one who understood my point!! Haha.

As for the other comments, I emphasized breaking even\coming close because if you buy carefully you should be able to. But my main point stands, we NEED MINERS!!! Investors are nice, but wise investors mine as well as buy!!

[aynstein]

No sales pitch for cloud mining yet?

Cloud mining seems more like investing then mining. Just saying.
 

[balanghai]

Investing and mining is the best way to go. If you can't afford asics yet, then start mining with cex (you can check my sig). And from there save to buy the best GH/s/$ hardware. Every decentralized miner added is worth more than a datacenter made by a cooperative (if ever govt. shuts them down). The network will not be hampered that much.

[integrity42]

This is so ridiculous, I don't even know where to start.

You must be a shill for BFL.

[TheQuin]

I am mining at a loss, but it's been a fun experiment, and I know I am helping the value of the coins I purchased.


This is just my opinion I've got lots of dumb ones and occasionally I have a good one. I think this is a good one.

Or maybe I am just trying to make myself feel better.


Regardless, Bitcoin is not a spectator investment. Stay involved.

Cheers.

 

tips - 13WGRNzvjPGHcQicsdn65vEJvLhUydu4m5

Yeah, you answered your own questions.

[mobile]

Hey I always say, at the end of the day there is nothing wrong with supporting the network.

But lets not forget, (for example) your always going to have those people that leech a rare torrent file & never seed it for any amount of time.

I guess the argument is diversifying mining power. If everyone invested in one mining entity,(wild example) then this one entity would have control of the network versus having big gun miners, mid tier miners and the small scale miners.

[User705]

I think everyone who has coins should mine even if it's a tiny amount.  You can always solo mine and think of it as a lottery.  Bitcoin should stay decentralized otherwise it's a few pools or miners who can flip the rules on the rest like deciding to not half the rewards.  I think that was actually proposed right before the 1st halving when gpus where unprofitable and asics weren't around yet.

[aynstein]

I am mining at a loss, but it's been a fun experiment, and I know I am helping the value of the coins I purchased.


This is just my opinion I've got lots of dumb ones and occasionally I have a good one. I think this is a good one.

Or maybe I am just trying to make myself feel better.


Regardless, Bitcoin is not a spectator investment. Stay involved.

Cheers.

 

tips - 13WGRNzvjPGHcQicsdn65vEJvLhUydu4m5

Yeah, you answered your own questions.

What was my question I answered? Or are you just happy I have dumb opinions?

[aynstein]

This is so ridiculous, I don't even know where to start.

You must be a shill for BFL.

Please give me more then that. I am just offering a point of view, perhaps I am wrong, if so tell me where I made my mistake.




Just because I work for BFL customer service doesn't make me their shill! Kidding, I do not work for BFL, or any other bitcoin\bitcoin mining related business!

[aynstein]

I think everyone who has coins should mine even if it's a tiny amount.  You can always solo mine and think of it as a lottery.  Bitcoin should stay decentralized otherwise it's a few pools or miners who can flip the rules on the rest like deciding to not half the rewards.  I think that was actually proposed right before the 1st halving when gpus where unprofitable and asics weren't around yet.

I am glad a few of the miners agree! I thought it was self evident.

[aynstein]

Hey I always say, at the end of the day there is nothing wrong with supporting the network.

But lets not forget, (for example) your always going to have those people that leech a rare torrent file & never seed it for any amount of time.

I guess the argument is diversifying mining power. If everyone invested in one mining entity,(wild example) then this one entity would have control of the network versus having big gun miners, mid tier miners and the small scale miners.

In your analogy are you comparing the leechers to asic manufacturers? I totally agree. Generally when your customers "pre-order" a not yet existing product you are gracious as they are actually investors. It was sad to say the least to see the way the situation of pre order delays etc was handled, on all sides. The customers for pre ordering from a companies a not yet existing product then dragging the companies and its staff's reputations through a broken glass parking lot known as the forums, and the manufacturers for over promising, lack of clear time lines that were clearly adjusted as work went forward, treatment of customers etc. In all it was a cluster !@#$.  The way the customers that were funding them were treated was\is deplorable and should not be forgotten.

[TheQuin]

I am mining at a loss, but it's been a fun experiment, and I know I am helping the value of the coins I purchased.


This is just my opinion I've got lots of dumb ones and occasionally I have a good one. I think this is a good one.

Or maybe I am just trying to make myself feel better.


Regardless, Bitcoin is not a spectator investment. Stay involved.

Cheers.

 

tips - 13WGRNzvjPGHcQicsdn65vEJvLhUydu4m5

Yeah, you answered your own questions.

What was my question I answered? Or are you just happy I have dumb opinions?

The title of the thread "Why buying mining hardware IS almost always BETTER then JUST investing"
No I'm sad you have dumb questions.