Do you prefer to buy bitcoin or do bitcoin mining?

[TCW003]

Dont know about you buy five grands is a big amount from my perspective. So if you are happy to invest that and willing to verify the locations and see if these miners really exist them go forward with it. Dont take my word for it though. There are still ways you could get scammed. But if you have physical access to the location, and your social engineering skills are good you could milk out some information from the people working there too.

Well, yes I did milk out some secret information from the workers in the mining farms. Years ago, they "steal" hashrates from machines which were owned by their customers. But now they said they can't do this anymore because of the more focus on management. Besides, I think the working in the mining farms is really boring. They easily feel lone with those running and noisy machines all day and night. No entertainment, no girls.

[The Cryptovator]

For me mining is complicated due to high price of electricity. On the other hand my government still against of bitcoin, so if incase I caught with mining equipments or btc then likely I will be on jail. So better option for me is holding btc and buy more on dip what I am doing now. I can buy bitcoin silently, but mining electricity bill would more than what I will earn by mining fee. So who have opportunity to mine bitcoin then do it besides of buy. Likely you would get benefit from both.

[mersal]

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

You can also try some other cryptos and convert them into bitcoin to make more bitcoins than mining bitcoins directly but I am not sure how this work since I am not an expert in bitcoin mining but this works with ethereum miners.

But mining is not the preferred option for most because its not for everyone,only who can afford the hardware and electricity bill can go for it.

[TCW003]

I'm waiting for BCH=0.03BTC this time!

[TCW003]

OMG! What's wrong with BTC and the whole economy?
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.

[Ruso21]

OMG! What's wrong with BTC and the whole economy?
My machines are going to shut down
Except to collect more coins, I don't know what can I do further.

Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.

I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.

[TCW003]

Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.

I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.

I am long term too. But with such price, the mining can't be profitable for some machines like M21s. s17 and M20s are still profitable.

[Ruso21]

Your comment makes me think you are short term miner/trader, also you need to see more market news to stay tuned for what's going on with BTC.
Unless you are one of those with cash problems so you are thinking to shut down. This problem is going to last for a while.

I do both and i'm happy, disappointed and feeling sorry for what's going on because of the virus. I keep mining & buying what I can because I am long term.

I am long term too. But with such price, the mining can't be profitable for some machines like M21s. s17 and M20s are still profitable.

The electric fee hurts with the M21s. Before turn off, I suggest you to make a math in excel...

* In each month put the electric fee based on the rate of every season.
* Put the coins qty (BTC or whatever you mine)
* Estimate when the value will go up and see if the numbers makes sense.
* Don't forget the time for ROI, difficulty, etc.

In my case it is too difficult to calculate because I don't mine BTC, I'm mining Monacoin then add 20~40% of profit to convert to BTC. Also it's suffering 51% of attack which makes it too volatile (beside of BTC value).

[pawanjain]

Right now the easiest way to collect would be to buy bitcoins directly since the price is so low.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.

Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.

[UserU]

Right now the easiest way to collect would be to buy bitcoins directly since the price is so low.
We can say that bitcoin is being sold at a cheap rate since the price is down by 40%.

Other than that, for me, the easiest way to accumulate bitcoins would be to participate in various campaigns and earn bitcoins.

Agree, now it's shopping season for Bitcoins. Imagine how those miners are feeling having to foot those massive electricity bills

[robelneo]

I'd like to speak at the present situation, it's much more preferable to buy Bitcoin now, it is 25 to 30% lower than last week price, Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.

[TheUltraElite]

Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.

I would not call it a thing for the past because the professional mining companies are doing it everyday, maintaining their rigs and upgrading their equipment. Maybe hobbyist miners are no longer here and this is normal considering the number of miners required to keep up with the difficulty.

Price checking everyday is a thing but it one of the things that a miner accepts before starting mining because price changes are an inherent part of this market.

[TCW003]

Anyone here booked S19 from Bitmain?

[onrise]

I'd like to speak at the present situation, it's much more preferable to buy Bitcoin now, it is 25 to 30% lower than last week price, Bitcoin mining is considered a thing of the past, not a good option it takes a lot of time knowledge and money to mine Bitcoin now when if you buy you can do whatever you are doing and just look at the price from time to time.

I prefer to buy and sell as it has a easy accessibility to your capital whenever you require it. Mining first require a huge cash inflow in order to buy equipment’s, setup the place or take it on rent etc which all required the huge capital. Also, levels keep on becoming difficult and ROI would be very long. In trading or investing you can make money if you invest in right coins at good time and sell it when you reach your goal.

[smyslov]

At the current market price, it's more practical and profitable to buy Bitcoin than to mine and with the halving almost a month away mining business will have a hard time generating profit, some of them will even sell their rigs or shift to mining other coins and trade it to Bitcoin if you prefer buying Bitcoin all you are going to need is to just watch the prize and you can always liquidate anytime.

[TCW003]

At the current market price, it's more practical and profitable to buy Bitcoin than to mine and with the halving almost a month away mining business will have a hard time generating profit, some of them will even sell their rigs or shift to mining other coins and trade it to Bitcoin if you prefer buying Bitcoin all you are going to need is to just watch the prize and you can always liquidate anytime.

You are right. I'm studying ETH mining recently. Does anyone have experience of ETH mining here?

[TCW003]

Although an ASIC can be built to provide optimal hashrates on an algorithm, the Graphics Processing Unit (GPU) is much more powerful than the CPU, and more flexible than an ASIC in their application. The GPU is the chip that enables graphics cards (often called GPUs for brevity in mining circles) to perform millions of repetitive calculations at the same time so that games can be rendered in real time. They are also used to render special effects, or for machine learning and artificial intelligence. Whereas an ASIC is purpose made to mine a single algorithm, a GPU is capable of mining different algorithms. It’s possible you could mine Ethereum, Monero, Zcash, Grin and many other coins with the same GPU.

[Viscore]

You can do both but mining is not for everyone, so personally I would just buy bitcoin and hold it, less hassle.
When you are investing and doing bitcoin mining, that's a double risk, or even mining alone, it requires a lot of capital to be able to stay profitable, and as what I have read, for one to be profitable in mining, it has to have a good mining rigs which are expensive at the moment, not only that, you also need to have the knowledge, so basically what I'm saying here, this is only for people with technical skills and are big risk takers.

so I'll stick with investing through holding only.

[sunsilk]

You are right. I'm studying ETH mining recently. Does anyone have experience of ETH mining here?

Check the difficulty of its nethash on https://whattomine.com/

And as you know, Ethereum is about to change its consensus from PoW to PoS. But, there is no definite date when it will exactly happen so as long as they haven't transitioned, you're still ok to mine it. I think you can mine and collect up to 32 ETH for the staking once it's ready.

You can stake that 32 ETH which was said to be the minimum amount for an individual's staking. I've heard that there will be pools that allows sharing for small amounts for many other individuals that wants to contribute.

[Anonylz]

I would much rather buy btc than to mine especially when I don't have the mining equipment, imagine someone with $200 wants to buy btc, it will be much easier to pick up some btc from any good exchange than to go through mining process, just save yourself the trouble and buy,
But if you are a miner, then you may want to mine the $200 worth of btc because you have the equipment and experience, still, buying is a preferred option for me, low stress, low cost.