Buying BTC vs Mining it

[Rengga Jati]

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

So far, buying and holding BItcoin work more for me and this is worthy enough. I never tried mining because I should consider more things than only buying such as the power to mine, place, equipment, and other elements in which they are not cheap and must be continuously.
Consider about yourself condition whether it is available and worthy or not for mining, if not really, you can prefer to buying only and making them as Bitcoin.

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.

Actually, you don't need to buy 1BTC at once and all in. If you have such big money in that amount, you can make some diversity or some steps of buying Bitcoin several times. You may use DCA or other strategies in roder to get the ebst price. However once more, DYOR when youa're going to buy the Bitcoin, when and how much. Ensure that you also use free money, dude.

[fuguebtc]

I have never mined BTC and I think buying and holding BTC would be more appropriate for individuals. Just have a little money, you patiently wait for the market to drop, you can buy BTC and hold it for a long time, you will definitely make profit.
Buying and holding BTC does not require you to have as much money as mining. Example 40k you can buy 30k BTC and 10k you can buy ETH to get more new experience of the market.
On the contrary, mining will be more suitable for organizations and businesses because it requires a lot of costs and human resources to exploit.

[henmark]

I am not an expert on understanding how GPU's work or even want to learn that because it is way too technical, nor would be interested in high tech ASIC bitcoin miners neither. I only use a laptop for every day usage, it is a very old one and it keeps having problems and I have heart attack like panic attacks whenever it crashes.

Since, it is an old one, it does have crashes like once a month and I should get a new one but I really do not want to spend that much money on a new computer when this is still working, I will wait until this one is completely dead. Imagine me using some ASIC miner, I am barely using the current laptop I own, and not even caring about it well, I would destroy an ASIC farm, so there is no need for me to risk my money that way. Buying bitcoin is FAR better option.

[FlamingFingers]

The cost for mining bitcoin is not that cheap, if it were, there would have been alot of people mining it than holding, The capital that you want to use in mining might not be that huge, but i would advise that you use it in buying bitcoin to hold than to use it in buying equipment use in mining, paying electricity bills and other expenses involved in mining, moreso you just buy and hold rather than passing through lots of stress in mining it

[Flexystar]

I hope you understand the current situation of the market? We are like 50% discounted at the current market rate and the market is already pushing itself upwards as we speak. If you invest your 40k today into mining stuff then I’m sure it will take you another two years to recover the same from market. Considering we get to see new ATH you may recover it faster but still another year of wait plus maintaining of the whole rig.

For me, just to give the inputs my vote will always go to retail market. Just buy it when you have chance and MONEY. If you keep waiting then you will have same situation as 2010 bitcoin value and 2022 bitcoin value after few years from now. It is as simple as that.

[xSkylarx]

The cost for mining bitcoin is not that cheap, if it were, there would have been alot of people mining it than holding, The capital that you want to use in mining might not be that huge, but i would advise that you use it in buying bitcoin to hold than to use it in buying equipment use in mining, paying electricity bills and other expenses involved in mining, moreso you just buy and hold rather than passing through lots of stress in mining it

Unless you live in a country where renewable energy is used and electricity is free. This is the most difficult problem for a miner to solve: paying bills and determining whether or not you can still make a profit. Those who own mining farms in cold areas are usually only making a profit because most of them have low electricity costs and can reduce costs because they are already in a cold country. The best option for us is to buy one, as it requires less effort.

[thecodebear]

If I had a place set up with lots of renewable power (had a bunch of solar panels plus a couple residential-size wind turbines), that was also connected to on-grid power, and I knew what I was doing with setting up Bitcoin mining machines, I'd use that $40k to buy miners. Otherwise, just buy Bitcoin.

[adzino]

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

[Marvell1]

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

I don't think the spend will be more than the reward get from mining, if there is no profit how can mining farms survive?.
I think like this, mining will make profit but to mine bitcoin will cost a lot in the first time of operation and requires us to have a source of money to pay monthly costs and Basic technical knowledge is required to operate an excavator. But buying bitcoin is simpler, we can invest with less amount and just buy and hold, we don't have to worry about monthly cost.

[Zanab247]

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

Yes, buy bitcoin will be more better than mining that will cause you power supply and data through out the mining. If you calculate the money and time you will spend on mining and the profit you will achieve at the end of the mining, you will came to discover that buy bitcoin and hold for 2 or 3 years will bring you a huge amount of profits at the end of the investment than mining.
Bitcoin price has increased to $50 which is really helping bitcoin investors to start earning good income  from their investment because they bought bitcoin at a low price last months when the price was $33 in the crypto markets.

[sulendra12]

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.

Have you also take an account about the electricity price and other stuff maybe some cooler to make the room become less hot because of the miner? It's not just simply you can buy that miner and let it do the job easily. It's more than that, you need some stuff before even make it run properly for the first time, but other than that you will be familiar with it. It's better to buy Bitcoin in my opinion and hodl it as long as you want.

[TheGreatPython]

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

But, what if you will be using solar and other forms of free energy to mine a crypto? and what if you use your mining equipment with care like you will turn it off once you feel it was over heating, only to relax the machine so that it can last longer. That should lessen the expense of mining. Mining can still be better than buying a btc if things done right.

For an average joe that is afraid to take risk and have a very limited knowledge, they probably avoid mining even if they didn't understand it properly or didn't prove to themselves that mining is truly hard or unprofitable than simply buying a btc but anyone can still lose even if they just simply buy and hodl a btc.

[dezoel]

what if you will be using solar and other forms of free energy to mine a crypto? and what if you use your mining equipment with care like you will turn it off once you feel it was over heating, only to relax the machine so that it can last longer. That should lessen the expense of mining. Mining can still be better than buying a btc if things done right.

For an average joe that is afraid to take risk and have a very limited knowledge, they probably avoid mining even if they didn't understand it properly or didn't prove to themselves that mining is truly hard or unprofitable than simply buying a btc but anyone can still lose even if they just simply buy and hodl a btc.

There is no "free" electricity. If you are using solar, then that is energy that you are producing and if you use that for mining, you are still using it, you could have sold it, or used it for something else. Just because you are not paying for it, doesn't mean that it is not getting taken out of your pocket.

You could make $100 per month by selling it, or you could decide to use that to mine $150 bitcoin instead, depends on your own decision. Of course, $150 looks like a better deal, but in the end the machines could break down for no reason, or you could have flood, or you could just get raided and all of your machines stolen, plenty of possible things that could go wrong.

[oudomopo]

I cannot decide on this topic because, Mining bitcoin gives you more bitcoin instead of buying it. It would take 10 minutes to mine a $48,000 cryptocurrency coin. That means that you would need a warehouse with a lot of graphics cards and so on. I would just buy bitcoin since it is the easiest way without buying a lot of computer parts that is the size of a large warehouse. I use robinhood to store all of my bitcoin on One device. I use my MacBook to write this on the bitcoin forum so it is easy without using a phone. So I am undecided on this one and they are really good options. If I would switch to become a bitcoin miner, it would take me months or a year just to mine at least 1 bitcoin because I am cheap and could not afford to buy a Bitcoin mining software and a lot of Graphics cards.

[tabas]

Better to buy bitcoin than to mine it. You will be spending more on mining than you will be earning from the rewards. The cost of power, equipment, maintenance and lots of other things will add up making everything very expensive for you. You have to spend a lot of time making sure the hardware is running properly and is maintained well enough.
Just buy bitcoin and hold them. You will be earning more in the long run.

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Are you really commenting on this quote? There's no casino that has been mentioned and the topic is all about mining and buying bitcoin and which is a better thing to do. Probably you've commented on a wrong thread and you've opened one from the gambling section.

But buying bitcoin is simpler, we can invest with less amount and just buy and hold, we don't have to worry about monthly cost.

This is the advantage of buying bitcoin, you don't have to setup anything but only your exchanges account and deposit/withdrawal into them with your purchase and you're good to hold it upon acquisition.

[sumant]

It depends from person to person differently buying bitcoin is more easier then mining bitcoin because for mining you should have a set up and all the things that required for btc mining, on other hand buying is very easy, on exchanges you need to put miney and buy btc as much as you want. May be mining set up cost will vert high for coin that you are going to mine.

[TheUltraElite]

It depends from person to person differently buying bitcoin is more easier then mining bitcoin because for mining you should have a set up and all the things that required for btc mining, on other hand buying is very easy, on exchanges you need to put miney and buy btc as much as you want. May be mining set up cost will vert high for coin that you are going to mine.

It would be justified if the ROI from mining would cover the cost of setting up the farm. Most countries don't have cheap electricity and neither do they have a cold climate to remove heat. Moreover the competition between farms that are already established is high and getting skin the game is a tough thing for a newcomer.

Hence the logical thing for an average investor is to start buying Bitcoin at lower price.

Another thing is altcoin mining which is again a rat-race game. if that suits you then go with it, but the lack of guarantee that the coin is going to be anything in long term is there.

[Xampeuu]

buying bitcoins seems simpler and after that we can do other activities, this may be different from mining which requires treatment to get bitcoins. for those who have a lot of money then investing in bitcoin can guarantee their future, in contrast to mining which requires large capital and maintenance at all times, of course we must have knowledge about mining, but this depends on the skills of each individual. if you want regular income, mining is an option

[panukurap]

I will choose to buy Bitcoin rather than mine it because mining Bitcoin requires a lot of energy. While the device I use doesn't seem strong enough to do it. Besides that, the risk of mining Bitcoin is also greater but the benefits obtained are also greater than just buying Bitcoin and then trading it. . It's all back to the way we organize and manage the process between buying or mining. Choose what you think is suitable for you, whether it will be comfortable and whether it's too risky or not.

[Ebede]

It depends from person to person differently buying bitcoin is more easier then mining bitcoin because for mining you should have a set up and all the things that required for btc mining, on other hand buying is very easy, on exchanges you need to put miney and buy btc as much as you want. May be mining set up cost will vert high for coin that you are going to mine.

You are right, buying Bitcoin is better than mining because it will stress the miners due to the facilities which are involved to actualize it, some one who have the capital to buy bitcoins i will advice the person to buy instead of mining because i know that mining of Bitcoin requires many things, like electricity