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Author Topic: Altcoins: to Mine or to Buy? That is the Question  (Read 4321 times)
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March 24, 2019, 07:57:31 AM
Merited by blacky90 (2)
 #21

Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

Both mining and trading of altcoin had pros and cons. For mining , you need to start with a huge capital. But for trading, you don't want huge capital. You can start to trade with the minimum of 10$.Mining is a benefit one,if you are starting for long run. You have to pay for the electric bills in mining.So based on your budget, you can choose anyone among them.
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March 24, 2019, 08:02:23 AM
 #22

With the current price,mining is not going to be profitable so buying them with the money which has to be invested on the mining equipments is really a wise decision and you will make good profits once the price go bullish.

I talk that not only at current prices buying coins is better choise. Even during pump of 2017 year buying cryptocurrency had given more profit than buying GPUs/ASICs
Even at the bumps it is better to buy when we are short term investor but investing on the miners is totally waste of time so either buy cryptos or just don't invest on it.'

But when the market is bullish and the price is enough to cover miner expenses then it is kay to invest because it feels like long term investment.

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March 24, 2019, 08:02:46 AM
 #23

If I were him and I have money to start in crypto, I will learn more about mining and trading. And if I can find that trading will be a potential way for me to make a profit, then I will choose to trade. I know that mining the coin will needed electricity and I need to calculate how much I will pay in monthly.

To start mining, you need to have at least $1000 to buy the equipment and set the places, calculate the electricity fee, how much rewards you can get. All you want to know is available on the internet, and you only need to search with the right keyword. That is what I will do if I want to trade because searching for what we want, we cannot know the answer.

You already know what you need to choose.

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware
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March 24, 2019, 12:15:31 PM
 #24

Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.
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March 24, 2019, 12:24:02 PM
 #25

Maybe the best solution for you is to stake cryptocurrencies. For example NEO, Ontology or VeChain give you some coins if you stake them. So it is a good combination how to invest and mine in same way.

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March 24, 2019, 12:53:27 PM
 #26

Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.

 
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March 24, 2019, 01:09:44 PM
 #27

Sometimes you can mine a coin that just started, and network difficulty is low, and it is not yet on exchange, I was lucky a few times, but the last time it was a year ago or even more. Most often I mined trash.
just as I was mining the coin in 2017 is a waste in my opinion because what I get is only coins which in my opinion are useless and worthless as if I had to be more careful in mining this year it might be difficult to find coins I think it's good this year even if I get it, maybe it's luck for me.

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March 24, 2019, 01:35:17 PM
 #28

i only a few knowledge about mining but base on what i on discussions, most of the miners is targeting new coins that has a strong team with a big community support because it has big chance to grow its price in the future while mining well-known coins in the market needs a big capital to set-up a good mining rig. it would be easier to just buy the coin directly on exchange and store it on a safe wallet that you owned the private key.
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March 24, 2019, 01:37:39 PM
 #29

Mining up to last year was profitable. But, after the last price fall, nobody can make profit with mining.
But trade depends on skill. If you have the skills, the situation does not make any difference.

I would no be so sure. For me mining is still profitable, I already paid back my hardware cost and got some profit. And my electricity is not free.
But if I bought coins instead of buying GPUs I could made much more profit

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March 24, 2019, 02:13:17 PM
 #30

Although I don't have a mining experience, there are a few small details that I would like to point out. First of all, it would be a more sensible option for small investors to buy coins only because the small investor's budget would not be enough for easy mining equipment. On the other hand, there is a strong capital needed to generate significant revenue in the mining process, which prevents many investors from entering this area. Even though I think it would be fair to examine two options with equal budget, I think the mining process is more difficult when we compare the details. As a result, most of the market is composed of small investors.

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March 24, 2019, 04:11:47 PM
 #31

Currently, it is economically unprofitable to engage in mining (unless you do not have free electricity and you do not live in a cold climate). I also switched to PoS. Or just buy coins of interest to me.
cryptocurrency price conditions are currently being affected by the fall in bitcoin prices and weakening bitcoin demand, when demand in the market has started to increase and the price of bitcoin is starting to recover, the price of all cryptocurrency will also be expensive, if you buy tokens I suggest you be careful because tokens have a very high level of risk.

 
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March 24, 2019, 04:26:56 PM
 #32

Analized my experience in cryptocurrency since 2014 year I made a conclusion that PoW mining is less profitable than just buying coins ever. With several exclusions that just confirmed the rule.
So what is your experience?
Cons and pros of both methods to make money in cryptoworld?

Now I prefer holding coins, PoS mining and other methods without noisy and hot hardware

Buying seems to be more profitable than mining for me because I compare earnings with friends and see I am better off. Currently, I now take some of my friends in trading classes since they now run at loss on mining

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March 24, 2019, 04:52:12 PM
 #33

Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!
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March 24, 2019, 04:55:29 PM
 #34

Some cryptocurrents are no longer beneficial for mining. If you do not have huge farms with free energy. Even Ethereum is getting harder with each fork.
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March 24, 2019, 06:09:05 PM
 #35

Money is best kept in several boxes. Sometimes the profit is more from mining, and sometimes vice versa is less. Do not stop at one way!

But could you tell just two examples of coins that were more profitable to mine than to buy?
And boxes should not be too much because in that case they will be small boxes

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March 24, 2019, 06:11:41 PM
 #36

Mining is expensive to handle and I have always had that in mind
Unless you have a huge capital; mining is really not for you

How about trying to invest in altcoins ??
Short term or long term trading will be smart

Dyor.

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March 24, 2019, 08:29:54 PM
 #37

Mining is expensive to handle and I have always had that in mind
Unless you have a huge capital; mining is really not for you

How about trying to invest in altcoins ??
Short term or long term trading will be smart

Dyor.

Mining is not only expensive but also requires special knowlidge in IT sphere.
It can be good hobby. Making cases, constructing cooling system etc. But it's not the profitest way of making money.
Home mining goes to the past. Now mining becomes an industry

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          BTC
yobo2020
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March 24, 2019, 08:42:55 PM
 #38

I prefer to buy altcoin than mining of altcoin because you have to learn  mining, it takes time to mining and it requires more  money before you can start mining. But I believe the stress in buying is less compare to that of mining.
serhanni
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March 24, 2019, 09:11:59 PM
 #39

I wish I bought some coins instead of buying mining rig. Since I have a kid, I feel that mining at the home is not safe at all.
Ultimist
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March 24, 2019, 09:50:04 PM
 #40

I'm not really used of mining, but I think that buying coins will be better. At least now the extraction of coins is no longer profitable, you need to have a lot of money to buy good equipment, as well as a lot of time to pay off.

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