Altcoins: to Mine or to Buy? That is the Question

[adekogbe]

If you consider individuals who mine cryptocurrencies the greater part of them tell that it isn't beneficial, however not all.
Some of individuals still do this and even use it like the asset of warming for their homes, yet there are not all that numerous individuals. I don't think about purchasing coins. It is likewise the open inquiry concerning the benefit. It is extremely harder these days to acquire especially consistently on purchasing.
Buying coins off the market and holding is still the smartest option in my opinion.

[1715081252]

1715081252

[TomArayaSlaya]

If you have a very good mining rig then please by all means dont let it go to waste but if what you have can bearly afford it i will suggest you set your pc aside for mining and just go into trading man

[H1N1]

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

PoS is a good option if you don't want to deal with mining equipments and heavy working hardwares.
I personally prefer to staking coin or running masternode than mining coin because it can save your time without setting the mining rigs.

[prof7bit]

I definitely buy Altcoins now. Most of the coins fell in price by 50% in relation to Bitcoin and now is a very good price, you need not to miss the opportunity to buy Altcoins.

[rijaljun]

I definitely buy Altcoins now. Most of the coins fell in price by 50% in relation to Bitcoin and now is a very good price, you need not to miss the opportunity to buy Altcoins.

It's good for now but you might struggle to choose the best coins in the future. Sometimes, mining give more certainty about income while trading is more risky and full of uncertainty. So, it depends on personal ability to manage everything.

[ryan992]

I don't have experience for mining, so I would like do buy coin in ICO etc if we invest in good coin we can get mo profit, or do some bounty campaign for altcoin.

[Chainsmokers]

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

I personally mine more than I buy. but I didn't buy an altcoin, which in my opinion has good potential in the future. so mining is good but buying is also good when there are profitable opportunities.

[justspare]

I have a mining experience in 2012-2013 and I think hodl strategy is more convenient and ease for a regular user. You just buy and hodl. And in mining need always to keep rigs live, make tuning and prophylactics, pay for expensive electricity, etc. It takes much time.

Honestly mining is really not that worth it sometimes, if you consider the money to set up these mining and even maintain the mining operation, I would rather use it to invest in promising coins even if they are smaller in value, I have seen a situation whereby someone invested just $50 and got about $600k back in return, what more does one need to have again.

So rather than facing all the stress in mining with the noise the machines produced coupled with the so much expensive electricity bill depending on the country it is being situated, I think it doesn’t pay that much for me.

[babicena14]

My experience tells me that the best way to make money on cryptocurrencies is passive hold. There is nothing easier, you just buy cryptocurrency on the bear market and wait for its price to reach its maximum. Another profitable way is to launch a masternode of a little-known cryptocurrency with huge prospects, but such projects require very careful analysis.

[Nuxxorcoin]

Actually, there's another option. Besides, PoW wants a lot of quality CPU and GPU. So it comes to me as an old-fashioned system. You can choose PoS instead. There are projects where you can earn plenty of money just by leaving your wallet open. I prefer this one now, Veil.

[darewaller]

I don't have experience for mining, so I would like do buy coin in ICO etc if we invest in good coin we can get mo profit, or do some bounty campaign for altcoin.

I don’t also see anything that special in mining mate, I think mining Is just being over exaggerated, just like the way they usually blow pre ico out of proportion and many people rush to buy it, and then you realize that you will still get the price far cheaper in post ico.

I think we should just buy and hold some of these coins, although someone has to mine, because if they don’t mine, how can we get supply, so everyone cannot just be a buyer, but for those who would want to buy, I think it is far more profitable to buy some of these coins than hold considering the cost of even setting up the mining farm.

[Akoldi_ibk]

Mining can be profitable as well, but it is not meant for everyone. The complexity, cost intensive and sophisticated equipment, not just anybody can handle it. Even the so call cpu mining for me is too much. While not just stick with buying, selling, holding, airdrop, bounty etc, which are quite easy to maneuver and earn as long as some key principles are adhered to. I go with anything apart from mining in this space to make profit.

[94K]

Mining can be profitable in cryptocurrency but its not meant for everyone. If you want a long term investment then I suggest the buying.

[starblocks]

Mining can be worthwhile if a project has a strong development team, represents long term viability, and has adequate profitability and liquidity, but if it's not generating a decent ROI then its far better to invest, especially when any alternative asset is under its average mining costs and then wait until the market uptrend results in its appreciation

[btccrusher]

It's a complicated thing that you can't choose the option without experiments. In my case, I prefer PoW mining, because it doesn't require me putting more money in anything new if I have mining equipment. Also, most PoW coin holds its price uptrend for a long time. On the other hand, PoS mining requires to buy coins at their new arrival, obviously, they fall faster than I could imagine. Users dump them to get the ROI. I hate this game, so PoW is the winner.

[Janna_MaMa]

Both are beneficial when you keep it long term. Exploiting need large capital to invest in machinery, so choose potential and great value coins. I only recommend. When the coin price is reasonable or has made a profit, sell it

[newgal2017]

Today? It's buying or trading. I think mining is really expensive today from the mining equipment you're about to use, the electricity you're going to consume to run your hardware, rigs on where you're going to put your equipment, maintenance of it and you need to wait for a long time to recover your investment rather than trading or buying in a matter of time you might have a profit on your pocket but you may lost a little too in just a matter of time.

[uralcryptocoin]

Well the summer begins and I begin my experiment.

Mining vs. Buying Challenge

The inintial conditions are as follows:

• 2000$ is spent for mining equipment
• 2000$ is spent for buying coins

Now I put my rig to Nicehash
Mining profitability is calculated as I posted earlier:

While waiting of BTX price consolidation I estimated my mining costs.
My rig is about 1-1.1 kW power from outlet. For simplify lets consider 1 kW. At 0.05 cents per kWh the rig consumes 0.05 * 24 = 1.2 USD
Also it should calculate hardware ammortization. I think in 3 years the harware will lost 75% of it's current price. Also for simplifying lets consider linear price reduction.
So it will be as follows:
2000 USD * 75% = 1500 USD then
1500 USD / (3 years = 3*365 days = 1095) ≈ 1.37 USD

Total costs for the mining will be: -1.57 USD

At current mining profitablitiy for the config of 5-5.5 USD per day the pure profit is 3.5-4 USD (not so great but also not so bad)

P.S. in nest several days I will prepare pre-analytics for both mining and holding (plots, tables, etc)

My coins portfolio looks as follows:


I used coinmarketcap data for BTC\USD price calculation
My BTC I've put for 4.08% Annual interest at freebitco.in resource to get additional satoshis)

P.S. The results of next week I will post at Sat\Sun

P.P.S. Further I will update the OP of the thread and create plots to make this challenge info more usable

[asepsetiawan1990]

In my view, everyone has different ways and mindsets, but basically everyone is looking for profit. If you want to get a big profit, I think the capital you have to have must be big,
example:
- Mining (the greater the capital to build a mining rig, the greater the profit that will be obtained, with a note that a miner has experience in their field)
- Investment by buying tokens that have good prospects, The more capital we have, the more tokens we can have and if we sell at a good price. The more results obtained.

However, if we buy tokens the process will be easier than having to build a mining rig,
(this is my opinion )

[shoreno]

In my view, everyone has different ways and mindsets, but basically everyone is looking for profit. If you want to get a big profit, I think the capital you have to have must be big,

You can still earn big with or without big capital but as long you know what you are doing  . You know the coins that you are going to invest and you are in control of situation whenever there is a crisis in the crypto market .

example:
- Mining (the greater the capital to build a mining rig, the greater the profit that will be obtained, with a note that a miner has experience in their field)

Big capital is not enough . You must also inspect your sorroundings like for example if your electric bills is cheap or you have a large space and good temperature at your area  because this will have an impact on your mining business