mine a Bitcoin or buy a bitcoin？

[hZti]

Relatively speaking, cloud mining is the lowest cost.

Lowest cost is definitely a huge positive but if you don't actually make money in the end anyway, what's the point? Cloud mining services are either a scam, or very unprofitable for the service subscriber.

This is absolutely true, since if the person that offers the cloud mining would make the rent less than the return they could simply mine for themselves. If you dont have an advantage over the rest of the world, like free electricity you can never win by mining.

[kasunrandil]

it is easy to understand thta mining is more profitable than buying coins from market. if i have worth to build a mining setup i would mine bitcoins but not to take profit. i have some friends who mines bitcoin for take some profit. they mine  then sell those bitcoin and pay energy bills . then they convert rest of money to fiat. at least they dont know what  is bitcoin. they know mining as just method to earn some fiat. but bitcoin mining is far beyond that . it is a better way to earn some bitcoins for future. no problem on how you earn bitcoins whether mining or buying. important thing is understand  bitcoin and earn some bitcoin for future.

[isaac_clarke22]

~

I guess retailers knew that it is profitable anyway that is why they are ramping up the price regardless. Even if Bitcoin was down to 20k, as of writing this, it is still going to be rewarding to some people that are willing to invest to these rigs depending on their region. Here in my country, GPU costs a lot even though I do not think that mining is quite popular in here but maybe due to the price of top cryptos these days. It is quite rare for me to hear people getting into crypto mining due to how insane electricity costs in here

Thanks for your input by the way!

[m2017]

for now the most you can do is buy, watch the price drop and buy it, that's what most people do, not much can be done especially with cloud mining it's better to avoid it, buy and hold it for later sale at the highest price

The current bitcoin decline could be the best time to buy bitcoins instead of mining bitcoins because bitcoin mining is now difficult for people who don't have enough money to buy hardware and pay other fees. So it would be better if they don't mine bitcoin but just buy it so that it will reduce other costs that they can use for additional capital to buy bitcoin. But if they still want to try to mine bitcoins, that's up to them because we can only give them advice.

Buying btc is easier to implement than mining it. Less action required, just bought and you have it. Whereas, with mining, you are buying the opportunity to get bitcoin after a lot of actions, like buying equipment, setting up and running the mining process, associated costs like paying for electricity and repairs. I have listed only superficially and all this can be more diverse. That is, it is riskier and you get btc only after a while. This path is more difficult and costly for beginners, and also requires the necessary skills and knowledge. Not everyone can and wants to load themselves with such tasks. So it turns out that buying bitcoin will be an advantage for anyone and this is a feasible task in terms of a low entry threshold (just follow the guide from the Internet). If you have money, you just bought it and btc is already with you. Without deferred receipt, as with mining. And here I agree with you that with the current discount of bitcoin, now it is more profitable to buy it directly without all these troubles with mining.

[Alert31]

In our country, mining is not really profitable because of high cost of electricity. You need to consider the energy consumption if you want to mine bitcoin. Higher capital needed and it takes time also to mine. Unlike buying bitcoin at a lower price then just holding it and wait for the price to increase which is also hassle free. Although both mining and buying need bigger capital, I choose to buy especially this current decline of bitcoin in the market which is good entry to buy.

[hZti]

What is also to be considered is that if many people decide to mine bitcoin even if there is no profit above just to buy a bitcoin, mining will be less and less profitable for all the miners in general. This will actually weaken the bitcoin mining community what could be a bad thing.

[tabas]

Is cloud mining even a legitimate thing in the first place? Pretty sure that all of those who claim that they are a cloud mining service are 100% scam.

99.9% of them are not. And if you find a legitimate cloud mining, their contracts are already sold out within a minute and as you calculate your profit there, you'll barely have enough and break even.

I haven't seen a legit one and my friend who has been in crypto for a long time has never saw one too, asked him about it while typing my post.

That's why the majority of them are not really legitimate at all. And if someone is going to buy a spot for cloud mining, it's better to just buy bitcoin and you're even more secure by doing it.

[KennyR]

What is also to be considered is that if many people decide to mine bitcoin even if there is no profit above just to buy a bitcoin, mining will be less and less profitable for all the miners in general. This will actually weaken the bitcoin mining community what could be a bad thing.

Such situation won't arise, because only the large scale miners will be able to sustain such situations. With home miners they need to spend on electricity, maintenance and addition of GPU to compensate the mining when the difficulty increases. As said, if people think of making a stable earning unlike the market situation mining is the best choice. It requires a large capital to set up and further depending upon the market will be the profit and it requires dedicated observation. So, it is upon the users financial ability to go for buying/mining.

[qwertyup23]

Although the return of buying currency is high, the risk and return coexist, so investors also need to bear the risk of the currency price falling. And mining money is drought and flood guarantee. As an investor, we should take a long-term view of mining machine production.

Well, at the end of the day, it all boils down to the personal preference of the investor.

Personally, I would prefer to purchase BTC compared to mining BTC. The problem with mining stems from its very nature that you have to purchase the suitable and right mining equipment. This entails that you have to allocate at least a significant amount of capital to start such business. In addition, you also must have a suitable location on where to place these mining rigs since it has to be placed in a cool location.

As someone who wants to avoid the hassle of maintaining such equipments and lacks the necessary knowledge of mining, the convenient way would be to purchase BTCs and leave them for long-term HODLing.

[uchegod-21]

What is also to be considered is that if many people decide to mine bitcoin even if there is no profit above just to buy a bitcoin, mining will be less and less profitable for all the miners in general. This will actually weaken the bitcoin mining community what could be a bad thing.

Such situation won't arise, because only the large scale miners will be able to sustain such situations. With home miners they need to spend on electricity, maintenance and addition of GPU to compensate the mining when the difficulty increases. As said, if people think of making a stable earning unlike the market situation mining is the best choice. It requires a large capital to set up and further depending upon the market will be the profit and it requires dedicated observation. So, it is upon the users financial ability to go for buying/mining.

There might legit ones in the early stage of bitcoin and it is difficult to see now if at all they exist. I have also asked and I received similar answerseas this. But coming from the OP idea of the thread. I have got some sats of bitcoin and I am not proud of it because it is not big. It is not like something that could make one rich in the future. But whenever I remember I owe bitcoin, there's this kind of happiness that ignites in my heart.
I have wanted to join the mining of a thing, not actually for the profit but for the experience but I have been discouraged everytime I wanted to. Reason because it is expensive or it doesn't worth my time, but I am confused because people are doing it and still earning living from it.

[Oceat]

What is also to be considered is that if many people decide to mine bitcoin even if there is no profit above just to buy a bitcoin, mining will be less and less profitable for all the miners in general. This will actually weaken the bitcoin mining community what could be a bad thing.

I will rather choose mining even though it may be getting harder and harder in the future but if you have the right equipment you can earn money compared to buying when the price is unstable. But in the end, it's up to us to choose what's best for us so choose what you think best suited for you. Both have their own pros and cons, personal preference will matter as long as you gain profit from your strategy.

[nurilham]

Before we determine mining Bitcoin or buying Bitcoin, we need to understand what is the main differences between them. Mining needs specific knowledge and some mining equipment, not everyone can have these things. While buying Bitcoin can be done by each individual since it is very simple. You only need to have an exchange account and deposit some money. Once you have some funds on the exchange account, you can buy Bitcoin at any time and instantly. That's why most people prefer to buy Bitcoin to mine Bitcoin nowadays.

[Yatsan]

Mining is indeed better if and only if, you have the resources or money to be specific. Building a mining rig won't be easy for those who are not privileged, 'coz in some countries GPUs are expensive. Another thing is electricity, which is also expensive to some countries especially for third world countries which makes it not that advisable especially if you are just aiming to build a small farm, because more likely earning would be difficult. Last thing is knowledge ofcourse, mining isn't that easy, you also need to invest time into it. So definitely, buying would be more convenient to majority of individuals in this industry.

[ethereumhunter]

for now the most you can do is buy, watch the price drop and buy it, that's what most people do, not much can be done especially with cloud mining it's better to avoid it, buy and hold it for later sale at the highest price

The current bitcoin decline could be the best time to buy bitcoins instead of mining bitcoins because bitcoin mining is now difficult for people who don't have enough money to buy hardware and pay other fees. So it would be better if they don't mine bitcoin but just buy it so that it will reduce other costs that they can use for additional capital to buy bitcoin. But if they still want to try to mine bitcoins, that's up to them because we can only give them advice.

Buying btc is easier to implement than mining it. Less action required, just bought and you have it. Whereas, with mining, you are buying the opportunity to get bitcoin after a lot of actions, like buying equipment, setting up and running the mining process, associated costs like paying for electricity and repairs. I have listed only superficially and all this can be more diverse. That is, it is riskier and you get btc only after a while. This path is more difficult and costly for beginners, and also requires the necessary skills and knowledge. Not everyone can and wants to load themselves with such tasks. So it turns out that buying bitcoin will be an advantage for anyone and this is a feasible task in terms of a low entry threshold (just follow the guide from the Internet). If you have money, you just bought it and btc is already with you. Without deferred receipt, as with mining. And here I agree with you that with the current discount of bitcoin, now it is more profitable to buy it directly without all these troubles with mining.

Buying bitcoins would be the right decision for now because, with all the preparations needed before you can start mining bitcoins, it will make it more difficult than just buying on the market. And with the bitcoin price dropping again this time, their opportunity to have more bitcoins than before is wide open and with the same amount of money, they can get more bitcoins. But if they try to mine bitcoins, even with expensive equipment, they won't be able to collect the same amount of bitcoins because they need time before they can collect the same amount.

[Xxmodded]

I heard that the rig's cost is very expensive because the price of one VGA is also very expensive. After all, good stuff for mining bitcoin is expensive and hard to get. Meanwhile, buying hardware specifically for mining bitcoin is also expensive because that's the hardware we have to buy if we want a hefty reward. He also has to think about the cost of electricity as I said before and if in his country the cost of electricity is very high, it is not recommended to mine bitcoins.

Yes, you are right. Today's cloud mining has become a lot of fraud and under the pretext that it can provide huge profits, it's all a lie.

I have made little calculated about rig's cost most expensive and electricity paid every month with bigger budget then have checking prepare mining tool make us have to prepare much money but little return got from mining. I think not really mistake when have some people prefer choose mining than investing or buying bitcoin, but I think keep worth with investing or buying bitcoin than buy several mining tool and need waiting more than one year later return back capital and earn profit. I don't know all detail with mining period can earn profit but with buying bitcoin we can take profit in daily day than have to mine bitcoin.

[2stout]

At the current price, it would be best to buy a Bitcoin unless you already have mining hardware and software in place in order to avoid overhead costs, which can be thousands of dollars,  At top bull run prices, mining may perhaps make more sense.

[Vaskiy]

At the current price, it would be best to buy a Bitcoin unless you already have mining hardware and software in place in order to avoid overhead costs, which can be thousands of dollars,  At top bull run prices, mining may perhaps make more sense.

Yeah, at today's market it is good to go with buying. What you spend on mining could get you the best profit just by holding. With mining the advantage is a regular earning which varies according to the difficulty. As said, it'll get you good revenue when the market is completely bullish reaching ATH.

[maydna]

~snip~

I have made little calculated about rig's cost most expensive and electricity paid every month with bigger budget then have checking prepare mining tool make us have to prepare much money but little return got from mining. I think not really mistake when have some people prefer choose mining than investing or buying bitcoin, but I think keep worth with investing or buying bitcoin than buy several mining tool and need waiting more than one year later return back capital and earn profit. I don't know all detail with mining period can earn profit but with buying bitcoin we can take profit in daily day than have to mine bitcoin.

Once you've made that little calculation, you've already seen which one is more profitable to do. Instead of spending more money to buy equipment to mine bitcoin, it would be better if we used that money to add to our initial capital to buy bitcoin. We can also have the opportunity to make a profit after buying bitcoin because, who knows, the price can immediately jump high after we buy it. And although the price of bitcoin is still long to be able to increase, we don't have to pay any fees because we only need to store and hold it for a while.

[autumnleaf]

Since I have no knowledge about bitcoin mining, I prefer to buy bitcoin because it seems easier. I'm not sure if I'm correct, but it seems to me that the basics of mining are very difficult to understand, especially for us less experienced traders. Of course, if given the opportunity to learn how mining operates, I would jump at the chance.

[xSkylarx]

You only need to invest once to obtain long-term returns. As long as your machine is up and running, it generates a certain amount of bitcoins every day, and the benefits are endless. Acquiring bitcoins this way does not require you to watch the price every day, wait for the price to rise later, and directly trade in cash. Relatively speaking, cloud mining is the lowest cost.

You should also consider that it's not profitable to everyone to mine bitcoin. Mining rigs consumes a lot of electricity and there are countries where electricity prices are very high. It's not just invest and earn when you want to mine bitcoin, you should also have the proper knowledge in maintaining those rigs so they won't break easily.

Relatively speaking, cloud mining is the lowest cost.

If this is what you mean on mining those bitcoin then you're just pitting us to lose money because most of the cloud mining platforms are scam.

Although the return of buying currency is high, the risk and return coexist, so investors also need to bear the risk of the currency price falling. And mining money is drought and flood guarantee. As an investor, we should take a long-term view of mining machine production.

Both mining and buying bitcoin have their own risk. You can also experienced drought when you're mining bitcoin like if your rigs got broken and need to spend a lot of money to fixed it or a calamity destroyed those rigs.