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Author Topic: Altcoins: to Mine or to Buy? That is the Question  (Read 4395 times)
m.rifki
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July 29, 2019, 02:46:42 PM
 #241

It has been three years since I entered the crypto market. But sadly I have not had any experience of mining. People and my friends suggest me to mine bitcoin, Ethereum and other famous coins. But I do not have any knowledge about mining. So at this moment, I am very much satisfied with buying and trading coins.
it can be learned buddy. I see my friends also have mining tools. and I also followed it. I learned from those who have done mining and managed to get more assets. at first I was hesitant, but with limited capital maybe mining was also good besides trading.

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dotcoin.info
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August 02, 2019, 05:29:50 PM
 #242

mining has been not that much profitable as what I have heard from this forum. I have stopped mining like more than a year ago and have been doing trading ever since, and it is very much profitable for me plus without the hassle of mining and all, so personally, I would recommend that.

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August 02, 2019, 07:34:33 PM
 #243

If you mine, you should understand that the payback is very small and it will take a long time, but if you buy coins, the profit will be entirely up to you.

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romecheo
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August 05, 2019, 10:50:31 AM
 #244

If you buy from top 20 cryptos last month, you may double or triple your earning now, if you wanted to earn profit quickly, you could buy cryptos of your choice, however, a stable but small profit, go for mining.

On mining, you have to invest in hardware, internet, space and time.

On buying, you only need you few of time and money. 

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August 05, 2019, 10:59:32 AM
Merited by ajqjjj (1)
 #245

PREVIOUSLY....

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


AND NOW



Weekly reports and OP update soon...

I can not say exactly about the prey, because I have no experience in this area.  But about the purchase of coins on the Delta Stock Exchange, I can say the following.  I bought cheap coins of two projects and made a good profit, though I had to wait.

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August 05, 2019, 11:03:10 AM
 #246

I have mine some altcoins. Mining is not profitable, except sometime if you succeed to mine at the very start of a coin. But price tends to fall after a certain time. So it is better to immediately sell your coin. Except if you really believe in the very long term of the coin. The cost of mining a coin is like paying the double price of a coin at the current market price. I don't think it is worth to mine any coin. I don't have any ASIC miner, maybe it is more profitable with a specialized hardware. But with a computer and GPU cards, it is not worth the investment as you have to pay your electricity bill and your hardware becomes old faster and can get burned.
Bitcoin Miners
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August 06, 2019, 02:03:24 AM
 #247

I have mine some altcoins. Mining is not profitable, except sometime if you succeed to mine at the very start of a coin. But price tends to fall after a certain time. So it is better to immediately sell your coin. Except if you really believe in the very long term of the coin. The cost of mining a coin is like paying the double price of a coin at the current market price. I don't think it is worth to mine any coin. I don't have any ASIC miner, maybe it is more profitable with a specialized hardware. But with a computer and GPU cards, it is not worth the investment as you have to pay your electricity bill and your hardware becomes old faster and can get burned.
The explosion of mining industry in 2017 ended months ago, since the middle months of 2018. At current period, mining is surely unprofittable if you choose to mine altcoins, most of them. Especially if you choose to mine top altcoins, which have extremely high difficulties on their network, and their prices look like shit now. If you don't mine bitcoin, you should not think of altcoin mining now. Instead, using money to directly invest in altcoins now is better. You won't have to suffer uncomfortable feelings from heat emitted from mining rigs.  Wink

mohamadreza bagheri
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August 06, 2019, 06:11:20 AM
 #248

Buying coins and holding them is certainly more profitable than mining.
drumamat
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August 06, 2019, 06:33:52 AM
 #249

It has been three years since I entered the crypto market. But sadly I have not had any experience of mining. People and my friends suggest me to mine bitcoin, Ethereum and other famous coins. But I do not have any knowledge about mining. So at this moment, I am very much satisfied with buying and trading coins.
There is no problem to learn more about him. For 3 years I am sure you could find all the information you need. I would love to do mining,especially since it is a guaranteed passive income,but the problem is that I do not have a suitable room for this.If you compare the more profitable to engage in mining or trading, then most likely I would advise you to do both of these. By synchronizing these 2 activities, you can increase your assets.

   
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uralcryptocoin
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SIGNATURE CREATION by uralcryptocoin


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August 06, 2019, 06:36:31 PM
 #250

Smiley I apologize for the delay of Weekly report  Smiley

Week #9 Report (28 JUL - 04 JUL)

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MINING
##########
BUYING
###
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USD
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BTC
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A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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August 06, 2019, 08:07:32 PM
 #251

the multifaceted nature of mining has expanded ordinarily in that year.
As I would see it, it is smarter to pick a few altcoins and simply put resources into them on a long haul premise and trust you will get substantially more benefit than with mining in light of the fact that so as to earn substantial sums of money on mining need to put well in hardware.

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August 07, 2019, 11:21:39 AM
 #252

When the price will get back to ATHs, it would be profitable to mine, but right now, the difficulty is too high and the prices are low. So I do not see the point of mining altcoins, when you can just invest in them and take profit anyway.

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August 13, 2019, 06:43:01 PM
 #253

Actually there is another option called staking. You can get profits from staking altcoins, no need to spend money for electricity. Simple, but more efficient.

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