ASICs mining hardware

[Frankolala]

  Is mining of bitcoin cheaper than buying of bitcoin. ASICs ( Application Specific Integrated Circuits) the best mining hardware. I need clarification please.

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[1715160571]

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[1715160571]

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[1715160571]

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[BitMaxz]

ASIC mining hardware is a machine that mines blocks and gets a reward depending on your shares.
Buying Bitcoin is totally different you are buying directly with Bitcoin but if you talking about investment and which one is better then it depends on the Bitcoin price movement.
Both of them will benefit you if Bitcoin is currently in the bull market but since Bitcoin is pretty stable these days you won't make any profit holding Bitcoins except by playing the ups and downs of the Bitcoin price(trading).
Mining with an ASIC machine will only give you profit if you are living on a low electricity rate or have a free power source.

If you are planning to start a small mining farm then I suggest you to read this first "First time/Small miner reference for getting started."

[Bitcoin_Arena]

It depends on a lot of factors;
1. The time you decide to by mining hardware, cost varies due to demand and supply.
2. The cost of electricity in your country. Also cost of cooling hardware in case the temperatures are very high in your area.
3. The price of bitcoin in case you just want to buy it and how long you are willing to hold the coins.
4. The network hash rate, which could affect your mining rewards over time
5. How long you are planning to mine minus selling your Bitcoins at a loss during the bear market etc.

So basically the answer can not be completely conclusive. You have to decide on what you think you might be good at. You could also just diversify.

[Charles-Tim]

It depends.

Bitcoin mining can be profitable or may not be profitable. Before you will decide to join a mining pool, you have to make research and calculations to know if bitcoin mining would be profitable in your location or not. Also taking into account if bitcoin mining is allowed in your country.

If electricity cost in your country is cheap and you have a cold weather to minimise the use of cooling matchines, you can consider mining profitable in your location. But that is not all, you have to make research on a better mining pool to join and also the availability of mining equipment to be used in your location.

But if electricity cost is high and having a very hot weather, you may just better buy bitcoin and hold.

[aysg76]

  Is mining of bitcoin cheaper than buying of bitcoin. ASICs ( Application Specific Integrated Circuits) the best mining hardware. I need clarification please.

As others have already guided you I would add my opinion also on this.

So you are talking about whether it's best to invest money in buying bitcoin and holding it or go with the amount on buying ASIC machines for mining bitcoin right?

Let's take example that you invest your money for going to invest for full bitcoin so at this time you would need to spend $21400(at the time of writing this post as price fluctuate every second keeping volatility in mind) and there is no additional cost for it and you can story them in non custodial wallets or hardware wallets for long term.Now suppose the price is above $30k in span of one month so you make $8600 in profits at the time if you want to sell your coins but it could have been opposite also but depends if you prefer to hold long term then profits will be there.

Now speaking of Mining then you need to have ASIC machines and setup to run them with all time electric connection and join the mining pool as solo miners don't have the high probability of finding a block.You also need to look for the electricity cost, maintaince cost and cooling pads not to overheat it or if you live in high temperature region like some parts of Asia.

You see there is lot of work with mining but once you start getting rewards according to your contribution you can keep the bitcoin and it will accelerate your profit margins with bags filling with bitcoin but you also need to spend on the maintenance, electricity while doing the job so be sure about it.