rojan
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August 04, 2023, 03:21:02 PM |
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Buying bitcoin and Mining a bitcoin is completely different from each other , buy a bitcoin is part of trading where you need a fund for trade and on the others hand to do mining you need to set up a Rig and not only that it requires a lot of electricity. And the price of bitcoin is now over 19k it's mean a lot on the others hand You can build a setup for mining for less than 1 bitcoin but mining will be time consuming. Now try to see which one you can put effort into first.
I think there is a difference between investing in bitcoin and mining bitcoin. I find investing in bitcoin easier than mining bitcoin. For which I would prefer to invest. Mining has a lot of hassles which I don't like. Investment If there is a chance to make a profit, mining requires a lot of electricity and seems like a lot of trouble to me. That's why I'm more interested in investing.
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cheezcarls
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August 04, 2023, 03:30:21 PM |
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If only I could travel back in time like more than a decade ago, I would choose both buying and mining BTC. Why? Because that time BTC was insanely cheap and the mining was easy where only a handful are just sharing in the mempool.
But fast forward to today? Not a chance to plan mining BTC because the mining difficulty keeps leveling up every halving period. As for buying BTC?
As long I can afford to buy, doing DCA and acknowledging risks, then it’s good to go.
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tjtonmoy
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August 04, 2023, 05:50:41 PM |
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I would not consider mining as my first choice. It requires huge investment and time to get back the invested funds and also to make profits. The current situation with mining is critical as the competition is so high. If you are not equipped with a good mining rig, you can not make enough to cover your expenses that go into maintenance. For that reason, you can not just go straight away and start mining. On the other hand, buying Bitcoin is an easy option. Those who know the process can invest in Bitcoin just by buying. With Bitcoin buying, you can start from as low as $5-10, and all you need to do is HODL. You can also learn how to DCA. With buying investment method, all you need to learn is emotion control and build up a mindset to HODL for a long time. Bitcoin history tells it all. And there are no such complicated things like market analysis or price movements with Bitcoin investment. All you do is buy at any time (If you are unable to do things like market analysis) and just HODL for the market rise. You don't have to check the market regularly as your target should be for a long time. If you know how this works, then I guess you will change your opinion on which one you should choose.
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panganib999
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August 04, 2023, 08:49:20 PM |
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The end goal is always getting a bitcoin in the process. The means just differ. It's all a matter of preference really. If you think you want to consistently earn bitcoins on the long run and don't mind the upfront costs of paying for a mining rig, then mining bitcoins is the way to go. If you're looking however to save money as much as possible but still want to get into the bitcoin business then buying bitcoins outright is your better option as it allows you to acquire bitcoins without the need to pay for a mining rig.
Of course acquiring the means of production is the better option but sometimes the second choice is the best one, especially if you're gauging your financial capability.
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Wimex
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August 04, 2023, 11:57:10 PM |
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Of course, everyone's opinion is different, some want bitcoin from mining, some want bitcoin by buying. and both also have risks, but I myself prefer to buy to get bitcoin.
well we can also earn by working here in forum or outside, as you have been wearing signature also and there are chance that your payment will be converted into bitcoin in the next days. we all do this from Bounty payments to break and take bitcoin instead. but also? i commonly buy bitcoin from my extra income and from my gambling wins . also some of my friend pays me using bitcoin in my product selling Online . This is true, at this point we cannot limit ourselves to saying that there are only two methods to get bitcoin, however, focusing on the question that OP asks, about whether it is better mine a Bitcoin or buy a bitcoin? I would have to say that it depends on the circumstances of said person, since both options are good, but certain aspects must be taken into account. If an individual decides to buy bitcoin, the only thing that could limit this is the fact that they have a good amount of money to be able to access it, after that they would have to invest it so that they obtain good remunerations in a period of time. Now, if you choose to carry out bitcoin mining, you must have the ability to cover everything that this work entails, either due to legal issues in the country that could limit your work, or due to the simple fact that you do not have the necessary tools such as example good electrical energy, since this type of work consumes a good amount of energy, now if we omit the obstacles that they could have, the profits of practically creating this currency, are quite good compared to buying bitcoin.
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fauzan Ichsan
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August 05, 2023, 04:20:54 AM |
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The end goal is always getting a bitcoin in the process. The means just differ. It's all a matter of preference really. If you think you want to consistently earn bitcoins on the long run and don't mind the upfront costs of paying for a mining rig, then mining bitcoins is the way to go. If you're looking however to save money as much as possible but still want to get into the bitcoin business then buying bitcoins outright is your better option as it allows you to acquire bitcoins without the need to pay for a mining rig.
Of course acquiring the means of production is the better option but sometimes the second choice is the best one, especially if you're gauging your financial capability.
indeed to mine bitcoins requires a large amount of capital, but the advantage is that we will get bitcoins continuously, so that our number of bitcoins increases, this will be more meaningful when we get a lot and the bull season comes. however, people like me prefer to buy it, considering they don't have enough capital for mining. moreover bitcoin is very easy to buy according to our financial capabilities, we can buy it in stages and hold it, to get profit according to our target
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bayu7adi
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August 05, 2023, 05:41:28 AM |
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To embark on home mining, you must first invest in some expensive equipment. Once acquired, maintaining these tools and keeping meticulous records become imperative since home mining consumes substantial power. However, you hold full control over the process. In contrast, cloud mining still evokes limited trust. The underlying concern stems from the lack of direct control over the mining machines. Instead of guaranteeing profits upon initial investment, there remains a possibility of encountering detrimental issues when investing more, leading to potential losses. I never discourage anyone from delving into Bitcoin mining, but it is essential for aspiring Bitcoin miners to comprehend the risks they might encounter. As long I can afford to buy, doing DCA and acknowledging risks, then it’s good to go.
I personally prefer the gradual acquisition approach, as suggested, mainly because I lack the luxury of devoting ample time to managing mining machines. Additionally, cloud mining has never piqued my interest.
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Adams0001
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August 05, 2023, 06:33:30 AM |
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one of the advantages of cloud mining is that you don't have to constantly monitor the market due to price fluctuations and you can earn a relatively regular income at a low cost, but now it's really difficult to mine bitcoin and in the current situation mining returns may vary due to competition in the market. there are advantages and disadvantages on both sides, but I know that mining in the current situation is really hard work and I prefer to buy
There is no perfect way to obtain bitcoin; it is equivalent to asking if you should invest in diamonds or own a diamond mine. As with gold and diamonds, the cost of starting a mining operation is substantially more than traditional means of procurement, but the potential profits are significantly larger. People mine bitcoin primarily for the purpose of obtaining bitcoin or exchanging it for fiat currency such as USD. If you want more bitcoin, simply purchase them. If you want more USD, simply buy some BTC and hold it for 2-4 years before selling it. Don't squander your time, effort, money, electricity, or sanity attempting to achieve something extremely technical and costly that you can't. However, if you have a great understanding of bitcoin, I'd recommend you invest in bitcoin instead, since it's a far more viable/safe alternative, as mining bitcoin won't offer you with any value. Mining Bitcoin consumes a lot of resources, and the payoff isn't even guaranteed, making it an even worse option.
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Blitzboy
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August 05, 2023, 02:48:19 PM |
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The end goal is always getting a bitcoin in the process. The means just differ. It's all a matter of preference really. If you think you want to consistently earn bitcoins on the long run and don't mind the upfront costs of paying for a mining rig, then mining bitcoins is the way to go. If you're looking however to save money as much as possible but still want to get into the bitcoin business then buying bitcoins outright is your better option as it allows you to acquire bitcoins without the need to pay for a mining rig.
Of course acquiring the means of production is the better option but sometimes the second choice is the best one, especially if you're gauging your financial capability.
The appeal of having a Bitcoin is undeniable! Everyone wants one, right? Without a Bitcoin, you're not in crypto. Sure, you could buy a mining rig, but then there are electricity, maintenance, and other fees. For the chance to mine Bitcoin. How if block rewards halve before you mine one? You'd have pricey technology and a high electricity bill, but no Bitcoin. If you say mining is the "way to go", bear that in mind. You may also buy a Bitcoin outright, which may cost a lot, but you have one, right? Remember, its about making smart decisions, not getting the most Bitcoin!
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Aanuoluwatofunmi
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stead.builders
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August 05, 2023, 05:06:34 PM |
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whether one chooses to buy bitcoins or mine them, both methods come with their unique set of advantages and risks. Before taking decision on which to go for, we have to first analyze them both to understand the basic requirements needed and how we can best fit in for either mining bitcoin or making an investment in bitcoin, though i will say anyone can invest in bitcoin over time or trade bitcoin which either of the choice can work perfectly for a newbie to quickly learn and go for, but in the case of bitcoin mining, there's a technical aspect of it which may requires experience in the field before one can start, not only that, there are other necessary requirements which everyone may not have the conditions attached to them and this is why you may discover more people into bitcoin trading investment than mining bitcoin.
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lepbagong
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August 06, 2023, 02:00:32 AM |
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The end goal is always getting a bitcoin in the process. The means just differ. It's all a matter of preference really. If you think you want to consistently earn bitcoins on the long run and don't mind the upfront costs of paying for a mining rig, then mining bitcoins is the way to go. If you're looking however to save money as much as possible but still want to get into the bitcoin business then buying bitcoins outright is your better option as it allows you to acquire bitcoins without the need to pay for a mining rig.
Of course acquiring the means of production is the better option but sometimes the second choice is the best one, especially if you're gauging your financial capability.
indeed to mine bitcoins requires a large amount of capital, but the advantage is that we will get bitcoins continuously, so that our number of bitcoins increases, this will be more meaningful when we get a lot and the bull season comes. however, people like me prefer to buy it, considering they don't have enough capital for mining. moreover bitcoin is very easy to buy according to our financial capabilities, we can buy it in stages and hold it, to get profit according to our target So far, mining seems to be the best option if it's done, but the main problem is that the initial funds absorbed are not a small amount that has to be spent and it's usually very rare for someone to do it alone, always in collaboration with other investors. had an incident, because there were so many who wanted to do mining until the equipment needed became scarce, and if there was one it was very expensive and this was a separate obstacle. mining is like making a company that all you have to think about from workers, equipment, etc . which in the end is not just mining, but also must be smart to manage it. there are always good and bad sides if you want to do it, because mining seems easy and it seems that it will continue to produce but it is not as easy as imagined, there will always be problems and complications that can occur. If I'm asked to choose, obviously I'd be better off just investing and waiting until the halving era occurs and continuing to do that alone is sure to be profitable, and I can make purchases in installments. once again, each individual will be different in what they reveal and all can be good according to their own views.
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