Do you prefer to buy bitcoin or do bitcoin mining?

[TCW003]

Why I'm asking this question?

Because I checked my wallet several days ago, and I found I have 59 bitcoin cash in 2018, and I only just convert between bitcoin cash and bitcoin, and I converted totally for 4 times until now. I earned 30 bitcoin cash finally. I didn't think I can make this much in this way. I still keep on mining by myself to collect more bitcoins.

2 ways can bring the same result-collect more coins. That's pretty good. The bitcoin halving is coming, I don't know what will happen on mining, but let's see.

So welcome any of you to share your experiences of collecting more bitcoins. Persuade me

[aioc]

Why I'm asking this question?

Because I checked my wallet several days ago, and I found I have 59 bitcoin cash in 2018, and I only just convert between bitcoin cash and bitcoin, and I converted totally for 4 times until now. I earned 30 bitcoin cash finally. I didn't think I can make this much in this way. I still keep on mining by myself to collect more bitcoins.

2 ways can bring the same result-collect more coins. That's pretty good. The bitcoin halving is coming, I don't know what will happen on mining, but let's see.

So welcome any of you to share your experiences of collecting more bitcoins. Persuade me

With the current situation and difficulty, I prefer buying Bitcoin than mining it, the electricity cost and expensive mining rigs I don't think people will be attractive to mine Bitcoin now, but there are people who mine other coins and trade it to Bitcoin it's much preferable that way than going toBitcoin directly, there are many ways to gain Bitcoin but mining for me is not a good option.

[OmegaStarScream]

Buying is for everyone, it doesn't matter how little money you have, you can still buy a small portion of BTC. Mining, on the other hand, is not for everyone. Unless you live in a country where the electricity is dirt cheap and you have a decent amount of money to invest in hardware, you won't be able to do it. IMO, if you can mine and you're willing to hold, you should go for it regardless of the halving's outcome.

[TCW003]

Buying is for everyone, it doesn't matter how little money you have, you can still buy a small portion of BTC. Mining, on the other hand, is not for everyone. Unless you live in a country where the electricity is dirt cheap and you have a decent amount of money to invest in hardware, you won't be able to do it. IMO, if you can mine and you're willing to hold, you should go for it regardless of the halving's outcome.

I doubt that buying is for everyone. At least people in some places from Africa don't have choice to buy bitcoin. Yes, and neither for mining. Not everyone can join bitcoin mining with rigs. But with the spread of cloud mining, it becomes easier.

[TCW003]

With the current situation and difficulty, I prefer buying Bitcoin than mining it, the electricity cost and expensive mining rigs I don't think people will be attractive to mine Bitcoin now, but there are people who mine other coins and trade it to Bitcoin it's much preferable that way than going toBitcoin directly, there are many ways to gain Bitcoin but mining for me is not a good option.

so which situation is the best for you to choose mining? Or you just don't want to consider it anyway.

[TCW003]

I'll go to check if I have bought hashrates with 59 bitcoin cash in 2018, how much should I have earned so far. I will show you. I'm also curious about it. 

[mk4]

I doubt that buying is for everyone. At least people in some places from Africa don't have choice to buy bitcoin. Yes, and neither for mining. Not everyone can join bitcoin mining with rigs. But with the spread of cloud mining, it becomes easier.

The method that's going to be for most people is either buying or earning bitcoin. With cloud mining though? As if you could actually earn a good amount of bitcoin. You'd be very lucky with even gaining a break even amount of bitcoin with cloud mining. It's simply either a scam, or a very very bad investment.

[milewilda]

Mining- If you do have almost free electricity on your place and you are capable on buying those expensive miners but if these factors are abscent then better skip and avoid all the hassle by just simply
buying up coins but if its somehow part of yours on having interest on mining then go ahead but at least you do know on what are the primary things needed.

[Findingnemo]

I prefer buying bitcoins rather than mining.

You can buy straight away when you want and no need any physical place to set up miners, no need expensive miners, no need anything.

Anyone can buy bitcoin but not everyone can mine it so more preferable will be buying.

[Ridwan Fauzi]

Buying bitcoin is more promising for individual investor, he just need to spend his money to buy bitcoin and store them and his wallet then he will be fine.

He just need to see the price movement and set target profit that he wanted in order to when the price is reach for his profit he can sell his bitcoin and take the profit.

But, I just confused to see what have to do when I have intention to mine bitcoin. Also, I should know for how much money that I must spend to buy some stuff to support for start bitcoin mining.

And as far as I know, to start mining at this time we need a lot of money to start. Indeed, if we see bitcoin halving event it may profitable because bitcoin price will be high later, but I have to know the less supply of bitcoin then there will be more difficult it is to mine.

[Quidat]

Buy bitcoin all the way and it is way more simple and less hassle compared to mining.Majority knows that mining isnt already feasible nowadays and thats a valid reason for you to avoid.
Setting up miners isnt a childs play yet lots of things should be arrange first before you can actually operate.Not only that, its costly when it comes to maintenance or whatsoever.
If you cant bare those struggles then buying would be the best option to take.

[sunsilk]

Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.

But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?

[LTU_btc]

I didn't expected to see such question in 2020. I started my Bitcoin journey back in 2015 and it was already to late to do Bitcoin mining for regular people. Bitcoin mining requires huge investments and it doesn't brings big returns - it's for very few people these days
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.

[TCW003]

Buying will always be the most convenient option. Not everyon can avail to buy miners but everyone can avail to buy bitcoin at any price that we want and quantity that we want.

But if it's very effective to you that you have been mining and it seems that you have a farm, you are on the good side mining the right coin. And I think that you can sustain it and anyway, congratulations that you've earned from the fork coin. Are you planning to sell them and convert it to bitcoin finally?

I will keep converting to bitcoin or bitcoin cash based on the rate. I'd like to hold both coins to reduce the risk. By the way, I don't have a farm, I just invest on cloud mining which most of the people here think it's a scam. I have to say you must investigate the platform before you do any investment. Not all of the cloud mining are scams.

[TCW003]

I didn't expected to see such question in 2020. I started my Bitcoin journey back in 2015 and it was already to late to do Bitcoin mining for regular people. Bitcoin mining requires huge investments and it doesn't brings big returns - it's for very few people these days
Though I haven't invested much into buying of Bitcoins. I obtained most of my BTC in other ways - I earned it through affiliate programs, signature campaigns and advertising networks.

That's a pretty good way to obtain BTC if you have good marketing channels. Maybe I can recommend a new project which you may be interested in.

[fortunecrypto]

Why I'm asking this question?

Because I checked my wallet several days ago, and I found I have 59 bitcoin cash in 2018, and I only just convert between bitcoin cash and bitcoin, and I converted totally for 4 times until now. I earned 30 bitcoin cash finally. I didn't think I can make this much in this way. I still keep on mining by myself to collect more bitcoins.

2 ways can bring the same result-collect more coins. That's pretty good. The bitcoin halving is coming, I don't know what will happen on mining, but let's see.

So welcome any of you to share your experiences of collecting more bitcoins. Persuade me

Not everyone can mine it takes passion and knowledge for a guy to mine, whereas buying Bitcoin can be done by anyone, but this is 2020 where the difficulty is way to high you need expensive asic machine to mine, and with the coming halving many miners are going to give up because of the reduced rewards, I don't see why mining could be rewarding anymore.

[cissrawk]

If the choices option only that 2, then i will prefer buy it instead mining. If i can add another choice, i would rather earn it by doing some services or etc, instead of buy it.
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....

Which wallet do you use?

Blockchain.info

Well, we have to stay away from it. Or maybe you lost your key?

No, i don't lose it at that time, i just stupid i didn't realize my pc got infected by malware (probably keylogger). Well its already 2 years ago.

[TCW003]

Not everyone can mine it takes passion and knowledge for a guy to mine, whereas buying Bitcoin can be done by anyone, but this is 2020 where the difficulty is way to high you need expensive asic machine to mine, and with the coming halving many miners are going to give up because of the reduced rewards, I don't see why mining could be rewarding anymore.

You are right about that "it takes passion and knowledge to mine". But don't you think mining is a way that you can leave your coins there without doing anything and it can bring you rewards every day? Anyway I'm still not sure if mining is faster than buying. I need a calculation.

[TCW003]

If the choices option only that 2, then i will prefer buy it instead mining. If i can add another choice, i would rather earn it by doing some services or etc, instead of buy it.
I'm rarely keeping bitcoin for a long term investment, the longest is about 3-4 months and then my wallet got hacked....

Which wallet do you use? Well, we have to stay away from it. Or maybe you lost your key?

[Saisher]

I'm mining other coins and new coins but mining Bitcoin at this point of time is a waste of money because of the halving, in fact many miners are abandoning mining Bitcoin and now shifting new coins to mine, so I prefer buying it than mining it, and it's also the choice of the majority here.