Buying BTC vs Mining it

[BenjaminGlover]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

[darkangel11]

This question is probably as old as Bitcoin itself. IMO buy bitcoin, not mining gear.
Cons of mining:
You need cheap power
You need to put in work to set it all up, wire it properly, keep the miner running 24/7
You need a place where noise won't be an issue. Miners are quite noisy.
You need a safe place, where nobody will steal the hardware or tamper with it, which means no access for kids, thieves and animals.
Mining gear can break and nobody will give you warranty.
You need to wait for shipment. If you choose a new miner, it can even be months.

Not worth it unless you are have your own power plant, or know someone who can provide you with free power.

[Poker Player]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

I thought about it some time ago but I saw that it is easier and with less headaches to simply buy. If you add to that the rising energy prices, in an exaggerated way lately, you will get the answer.

[The Cryptovator]

For me, buying Bitcoin is a better option than mining Bitcoin. It's because electricity is costly and Bitcoin is illegal in my jurisdiction. But I can accumulate Bitcoin and take advantage of the price volatility. So it fully depends on your situation and jurisdiction as well. We can't suggest without proper knowledge about your jurisdiction and electricity price.

[noorman0]

With 40k I might choose to buy bitcoin outright and hold it. Faced with these two options, we are only talking about the belief that the price of BTC will increase someday. If you buy bitcoin, your only risk of depreciation is price volatility. On the other hand, in mining there are several risks from the aspect of equipment and operational costs, the difficulty level of mining, and others including the risk of holding bitcoins.

Additionally, in certain more stringent countries you will be required to fulfill administrative clearances with local authorities so that you can mine bitcoins without the threat of a forced shutdown.

[Dunamisx]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

Pls know this that engaging into bitcoin mining require intensive capital to run it, because you will need to create a start up plan for your mining rig, source for a suitable location, find a means of power supply, steady internet connection, high definition computers, mining softwares, installations and the technical knowledge in mining.

Whereas you can only make use of your 40k to purchase a particular amount of bitcoin and start your investment journey, with little fund in a little time and a little patience can emerge you to something big with time.

[maydna]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

For now, I prefer to buy bitcoins than mining bitcoins because to get a decent reward, you need to have good hardware and have that hardware run for a while. I don't know how long it will take to reach ROI, but it depends on your mining tools. So it's better to buy bitcoins outright than having to mine bitcoins because it gets you bitcoins faster than mining, and you can sell them if the price goes up.

In addition, to mine bitcoin, you also need to calculate the operational costs because you have to pay for the electricity required for the hardware. Unless you have a free power source, it will make you wait a long time for hefty results.

[stompix]

How about this for an improvement: BTC mining vs. BTC possession.
In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance?

There are thousands of people on this forum from different countries with a thousand different tariffs on electricity each, living in apartments or houses or farms, having a business or not, in a country that taxes or doesn't mining, where bitcoin is legal or illegal, and you expect an answer that would perfectly fit your situation with giving any info?

Taking into account that an L7 is not a bitcoin mining asic, but scrypt (Litecoin/Doge), it's quite clear you haven't bothered to check that out.
Seeing that you have opened 14 topics and never replied to any of them I think you're not looking for any discussion with this either and you're just merit fishing.

[Sayeds56]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

I thought about it some time ago but I saw that it is easier and with less headaches to simply buy. If you add to that the rising energy prices, in an exaggerated way lately, you will get the answer.

I agree with you mining is a big headache compared to buying Bitcoin and wait for Bull run and book good prof .It has been very interesting topic for me since 2018 when I joined crypto space. I also invested in some cloud mining projects like Hashfalre who distributed good rewards in the beginning but later shut down their operation as the Bitcoin price went below 10K. Having your own rigs and running it successfully is not so easy when cost of energy is skyrocketing in every country.

[fiulpro]

Not everyone is fit to mine bitcoins ans at the same time, you have to understand that there are a lot of things you have to consider first, for example:

Rules of the government
Cost of electricity
Profits ? If any !
Cost of mining equipments
Initial Investments
Greener alternatives

But when you talk about just holding bitcoins then I do think that you can just buy and the whole process is actually very simple and you can do it through one click from your mobile, so it does not require much trouble. Therefore more people choose this option.

[kaya11]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

Buying bitcoin is less work and you don't need to scratched your head if something went wrong, even the market falls, you could just wait for it to gain it's momentum back. Unlike mining, you will have to think about so many things, electricity, temperature, maintaining the condition of the rig, and lists goes on. I don't discourage you from mining, I am too a miner, but I somehow used electricity for free, and I won't tell you how did I do this because it is illegal and I am not promoting it. I love mining, the sound of those fans, I can't explain it. It is like a hobby for me, but for you I guess you want a passive income out of it. Another reason I mined is because I am a weak holder of coins, I never really had hold so long and sold most of it cutting my loses. So I quit being a holder and find peace in mining. I am mining since 2017 and my rigs are well and healthy, giving me decent profits. Hope you can decide base on what you really like, sending lots of love and peace, mining is fun for me brother and hope you choose it.

[Sterbens]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

In my opinion, it is more simple, practical, and efficient, not burdensome for several purchase options, which, in fact, will have many drawbacks during mining. So I prefer better buy and finish. Be mine without the need for this and all that. 1 BTC for me, the reason may be simple the mining process requires a lot of elements that are very detailed indeed. Honestly, I'm not a mining technician so as far as I'm concerned, mining must understand other elements and functions besides the basic tools needed in mining.

[Erumo]

I would buy Bitcoin, because if the price goes up, you will instantly get profit. But if you invest in hardware, first you will have to wait months before you convert your investment will bring you first profit. By the time it happens, your investment in Bitcoin can give superior income.

[avikz]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

With your budget, buying bitcoin is an one time affair. But buying mining rigs will become a recurring expenditure for you. So if you are willing to manage this day to day operations of bitcoin mining, buying mining rigs will be better.

However, if you don't want to go through all thise hassles of bitcoin mining and don't want to pay recurring money towards hige electricity bills, buying bitcoin makes more sense! So there's no straight forward answer available. It all depends on your situation.

[jackg]

I wouldn't invest in mining while everyone's talking about crypto too, this is something to wait on when it becomes more stable on price and stops making news (by about a year after then). If you don't and the price goes up, your miner will likely be mining less in terms of btc.

Buying is the best option for bull markets imo as it locks in the price and gives you a fair and certain amount of bitcoin. Mining is only very profitible in bear markets when the price has adjusted and become more stable/optimistic for growth.

[Flexystar]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

If I had 40k right now then I would just go and buy the crypto at the current price. Imagine bitcoin just reaching to its previous ATH would straight up give me 15-20K USD. This is huge money without doing anything except putting the efforts into buying the crypto. If you go for whole mining set up then consider your investment is blocked for couple of years at least. So question is why should we go for whole messy way if the crypto is really down at this point.

However, if you wanna go beyond long term holding then just do this and don’t go for mining. It’s more or less managing the whole company when you have set up. Lolz.

[mm2543363580]

For me, buying Bitcoin is a better option than mining Bitcoin. It's because electricity is costly and Bitcoin is illegal in my jurisdiction. But I can accumulate Bitcoin and take advantage of the price volatility. So it fully depends on your situation and jurisdiction as well. We can't suggest without proper knowledge about your jurisdiction and electricity price.

I would have a different opinion on this. If I have 40k and I don't know whether I should buy Bitcoin or mine it, I would rather find the answer myself by doing my own research.
Bitcoin mining is not much profitable these days as it requires expensive mining devices that eat too much electricity. The ROI is low now a days, right time to mine bitcoin was till 2014-15 since then complexity has gone up and reward is also low per block.

[usekevin]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

Bitcoin mining is harder than bitcoin buying.Bitcoin mining need noiseless environment. It need of huge investments for the long run.You need to buy mining setup with 3-5k dollars.It's essential one to get less electricity or low price electricity.Because unless, you can't get profit from the mining.And you should setup a strong Wiring for the safety. At the last, buying can be start with the 10 dollars, but it was not possible with the mining! So you can buy some bitcoin then mining it.

[dkbit98]

It pays off to buy asic miner for mining bitcoin only if you have free electricity or if you buy with discount price for large mining farm.
Back in the days you could mine BTC even with regular computer (theymos did that with his Intel Pentium processor) but now that is impossible.
I think buying bitcoin when some dip happens is much better option today instead of investing same money to buy miners with all other expences.
Dollar cost averaging may be the safest option for buying, maybe every week or every time you receive paychek.

[pawanjain]

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

It actually depends on what your end goal is. For instance if you just want to accumulate BTC then just buy it directly.
On the other hand if you want to support the Bitcoin network then you could go ahead with mining considering all the hassle you will have to go through.
If you want to keep accumulating bitcoin then you will have to do a research on how much BTC you are gonna make per year as per the specification of your mining equipment in conjunction with the electricity being provided at your place.
At the end, it all depends on what your priorities are.