Between Bitcoin Mining and investment which one is more preferable.

[Olotu20]

My naija people I say make I ask this very important question because, I don dey think since between Bitcoin Mining and Bitcoin investment which one is preferable. Because going through this forum all the threads is talking about investments you hardly see  threads talking about mining so I take a look at the two and did the comparison.

What are the factors you look at when considering going into Bitcoin.
There are allot of things to consider when planning of going into crypto currency and these factors are mining and investment because, these are only the two ways one can get hold of crypto currency. For the purpose of this thread am concerned only on Bitcoin and the question is simple and short. What do you prefer between mining and investment.

Resource availability is the most important factor to look at because whether you say investment which is more capital friendly and Mining that is more capital intensive all is dependent on money. Coming to Nigeria which is struggling with constant electricity supply, which is needed for Mining Bitcoin. This led me to ask the question what is more preferable to you between Bitcoin Mining and you investments.

[Agbamoni]

Between investment and mining, mining is preferrable but it is more costly to set up. The capital you will use to set up your mining farm is enough to buy 1 Bitcoin and more, depending on your location. The cost of mining is very high, so as a Nigerian, investment is the best choice here. You can't run a minning set up in Nigeria successfully. Even if it is possible, you will spend so much money on it and it will take you years to receover your money and profits.

[Churchillvv]

Mining is very sweet when talked about but it becomes bitter when you have to spend the money to use it, just like the first person said it’s very expensive to set up here but it’s the most profitable thing to do when it comes to bitcoin but that was in the past today you just have to invest and let go, if you care about it you will need enough capital to start, light and other national issue could even hold you down including security for the machines etc m, so investment seems to be the best option.

[Hypnotizer]

My naija people I say make I ask this very important question because, I don dey think since between Bitcoin Mining and Bitcoin investment which one is preferable. Because going through this forum all the threads is talking about investments you hardly see  threads talking about mining so I take a look at the two and did the comparison.

Did you check the mining board? https://bitcointalk.org/index.php?board=14.0
You will find discussions about mining there and the reason why people don’t compare it, is because they are two different things, when you are mining bitcoin..you are running a business and when you are buying bitcoin..it is an investment.

What are the factors you look at when considering going into Bitcoin.
There are allot of things to consider when planning of going into crypto currency and these factors are mining and investment because, these are only the two ways one can get hold of crypto currency. For the purpose of this thread am concerned only on Bitcoin and the question is simple and short. What do you prefer between mining and investment.

Personally, I prefer the investment because I don’t have enough money to buy ASIC and all those mining stuff, if you want to start mining bitcoin you will need a huge capital whereas if it is investment you don’t need a huge capital, you can start will small and continue DCAing.

Resource availability is the most important factor to look at because whether you say investment which is more capital friendly and Mining that is more capital intensive all is dependent on money. Coming to Nigeria which is struggling with constant electricity supply, which is needed for Mining Bitcoin. This led me to ask the question what is more preferable to you between Bitcoin Mining and you investments.

If you have your capital, even without constant electricity in Nigeria you can still mine using renewable energy like solar power but it will cost you a lot. As a Nigerian youth I think you’ll rather invest in bitcoin rather than mine it because of its capital consumption. But if you have the Capital then mining should be a very good option.

[Dr.Bitcoin_Strange]

In my opinion, I would say the two is preferable but it depends on your goal, it also depends on what is easier and simoler. When you successfully set up a mining rig, you can constantly be mining for years and that's to recover the money that was spent in all equipment you bought to set up the rig, meanwhile in the cost of mining, there are some maintenance you will be doing and also paying for electricity. If you are going to be mining for a lifetime, there's chance that you will be profitable more than someone that is just investing. If you ant something simpler but still profitable, then investing is good but if you want something hard a bit, then you can go for mining.

[Doan9269]

To clarify my answer with you, I will like you to understand the conditions that are involved in each of them, so that you will know how it's been done and what to go for, bitcoin mining is a process new Bitcoin are introduced and you may need to set up a mining rig in other to be able to enjoy the benefits of this as you receive the rewards in Bitcoin, but you have to know the process to Bitcoin mining and all the requirements for setting up one.

About bitcoin investment, all you may have to do is to find a capital and use it to invest in Bitcoin, target the time you're going to buy and buy low, then hold and wait for a specific time the market will rise before selling in profits, this can be a holding to make for a longer duration in other for it to mature and increase in value, don't trade if you're not good at it or have the ability to take the risk to trade, instead, invest and hold for some time, both mining and investment are profitable, it all depends on which we can afford to start with.

[Frankolala]

Due to the high cost of electricity and mining difficulty, you need to have the latest highest performance of mining equipments. At the end, there's no guarantee that you will mine a block as solo miner. It's better to use the money to buy bitcoin and hodli for ten years and above because during the bear market some miners do quit the business.

[Joy_learns_crypto]

You keep seeing more on bitcoin investment than you see bitcoin mining that means you are curious about bitcoin mining so you should study about bitcoin mining, you can study on bitcoin mining off the forum.
If you study about bitcoin mining you will see that bitcoin mining is very expensive and that is why bitcoin investment is preferable.

[justinlamode]

Between investment and mining, mining is preferrable but it is more costly to set up. The capital you will use to set up your mining farm is enough to buy 1 Bitcoin and more, depending on your location. The cost of mining is very high, so as a Nigerian, investment is the best choice here. You can't run a minning set up in Nigeria successfully. Even if it is possible, you will spend so much money on it and it will take you years to receover your money and profits.

I don't know if you are completely correct because mining is expensive and even at that, there is no guaranty that you will succeed. Imagine investing 1 BTC in a mining project and it fails or you are not able to compete with other miners with more advanced gears. That will a many setback, so depressing that the person would have wished they had invested the money into Bitcoin and held. In my opinion, instead of taking any form of risk which is possible in mining, investing the money in Bitcoin is a better option for me.

[Jubilee58]

Mining bitcoin is a good idea as it has many rewards while mining, but here in Nigeria, investing in bitcoin is more convenient for many investors. Mining bitcoin is expensive and because of the cost of setting up mining rig, many prefer investing rather than mining. You can invest in Bitcoin with small amount of money and grow your portfolio on the long run.

If you are interested in bitcoin mining, you can actually mine with a Bitcoin mining company and in this case you have to pay some amount of money to be able to set up your mining rig, and the amount of money you pay determines your mining rate.

Both Bitcoin mining and investing are all profitable methods of owning bitcoin, but solely depends on individual and your financial ability to choose the method you want to accumulate your bitcoin.

[EL MOHA]

You keep seeing more on bitcoin investment than you see bitcoin mining that means you are curious about bitcoin mining so you should study about bitcoin mining, you can study on bitcoin mining off the forum.
If you study about bitcoin mining you will see that bitcoin mining is very expensive and that is why bitcoin investment is preferable.

The difference is clear seriously if one is considering the economical effect of everything then the clear one for now is bitcoin investment because for mining you need to have lots of funds to buy equipments that could make you actually compete with other miners and since it requires you fighting for a block to mine the chances are usually not gurantee to be on your side which carries more risk than investing. Yes there is no gurantee too that the bitcoin market will go to certain levels but it carries more certainty than mining because of the competitiveness.

More so one thing about mining is that it cannot be done hidden whereas in a country like Nigeria where the status of cryptocurrency isn’t even stated clearly yet I think it is very risky to actually be exposing one to the government because mining cannot be hidden due to the amount of electricity and other things required, whereas with bitcoin investment you can clearly buy anonymously without anyone finding out which in my opinion is a very important part to consider before

[Samlucky O]

Bitcoin mining is not as easy as you think, why people mostly emphasis on Bitcoin investment over Bitcoin mining is because investment in Bitcoin is cheap and anyone can participate according to their financial level, but setting up a mining tool will cost you a lot of money, very expensive to maintain. And now the rewards per transaction process in the mempool has reduced unlike before. The more years pass by and more halving occurs the more harder and difficult it is for mining machine to make profit since the rewards is halved as years pass. Bitcoin investment is for everyone but mining is not for everyone that is just the answer.

[PremiumcryptoHub]

I will focus on investment rather than Bitcoin mining. As a Nigerian, I do not have enough Naira to buy ASICs or other mining equipment. Even this issue is perhaps more important in Bitcoin mining, which is that electricity, as far as I know this is an important and variable cost because the naira or money used in your Bitcoin mining can vary depending on the price of electricity per kilowatt. On the other hand, we can start investing in Bitcoin with a very easy way, with a small amount of Naira, which is why this process is still popular to own Bitcoin. Moreover, we should know that if a Nigerian citizen is interested in investing in Bitcoin, then knowing the basic knowledge is enough for him but mining Bitcoin requires a lot of knowledge.

[Jamestown70]

They both depend on your financial capacity, manageability and having a long term goal, both mining and investment. If you decide to invest, probably as a newbie, the most friendly approach is via DCA and it’ll take at least 5 years and above to get a tangible amount of Bitcoin, if you decide to go into Bitcoin mining, it’ll take a whole lot of approach entirely, you don’t have to be a newbie, you should be more advance with Bitcoin ecosystem to proceed and you need a good sum of money to start and your location as well has to be a place that has constant power supply.
After making your analysis, you’ll find out which is more pocket friendly for you to participate in.

[Sticky Bomb]

My naija people I say make I ask this very important question because, I don dey think since between Bitcoin Mining and Bitcoin investment which one is preferable. Because going through this forum all the threads is talking about investments you hardly see  threads talking about mining.

Yes, majorly because there is a board dedicated to mining, you can check it out to satisfy your cravings.

What are the factors you look at when considering going into Bitcoin.
There are allot of things to consider when planning of going into crypto currency and these factors are mining and investment because, these are only the two ways one can get hold of crypto currency. For the purpose of this thread am concerned only on Bitcoin and the question is simple and short. What do you prefer between mining and investment.

Maybe you are mixing things up slightly, Mining is still an investment on its own since it generates proceeds for the person in form of bitcoin and is good for people DCAing since they get their bitcoin from the proceeds.

Mining is a better way of making bitcoin available for your accumulation journey if you have access to cheaper electricity.  You can still buy if you have more cold cash available at your disposal but I'll always choose mining over direct buying if I had the capacity of running a mining firm.

[Rhow]

My naija people I say make I ask this very important question because, I don dey think since between Bitcoin Mining and Bitcoin investment which one is preferable. Because going through this forum all the threads is talking about investments you hardly see  threads talking about mining so I take a look at the two and did the comparison.

What are the factors you look at when considering going into Bitcoin.
There are allot of things to consider when planning of going into crypto currency and these factors are mining and investment because, these are only the two ways one can get hold of crypto currency. For the purpose of this thread am concerned only on Bitcoin and the question is simple and short. What do you prefer between mining and investment.

Resource availability is the most important factor to look at because whether you say investment which is more capital friendly and Mining that is more capital intensive all is dependent on money. Coming to Nigeria which is struggling with constant electricity supply, which is needed for Mining Bitcoin. This led me to ask the question what is more preferable to you between Bitcoin Mining and you investments.

Bitcoin mining is a very popular option for Bitcoin investors. Since I am also an investor, I also like Bitcoin mining a lot. But it is not possible to fulfill all preferences.

So we have to keep an eye on reality. Due to our country, society and other problems, we cannot mine. To become a miner, we will need adequate power supply. We will need adequate equipment, machines and security. Which is very expensive. So as a small investor, becoming a miner is our dream.

But, when it comes to investing in Bitcoin, we do not have to face any such problem. We can use the DCA method to invest according to our needs and create wealth. Which is very popular with us. In our context, becoming a Bitcoin miner is very difficult. But becoming a Bitcoin holder is very easy for us. So, investing in Bitcoin is our choice.

[Odogwu-Blockchain]

If is should ask OP this question, which can you afford? Bitcoin investment or mining. Whichever one you can afford is more preferable to you.

If I am considering mining, then I need to get involved in learning to set up mining tools and software as well as engines, locate a cool site for mining plant and more, which can't be self affordable but a joint investment or by government.

Mining is not an individual investment, Bitcoin investment is a sole vestments.

[Fiatless]

What are the factors you look at when considering going into Bitcoin.
There are allot of things to consider when planning of going into crypto currency and these factors are mining and investment because, these are only the two ways one can get hold of crypto currency.

Minning and buying Bitcoin are not the only means of getting Bitcoin, you can earn it. One can offer services and receive payments with Bitcoin. An example is payments for signature campaigns and other services in this forum.

For the purpose of this thread am concerned only on Bitcoin and the question is simple and short. What do you prefer between mining and investment.

Buying and hodling Bitcoin for profit doesn't require technical skills. Exposing yourself to the basics is enough to start buying and keeping. Mining requires some level of technical knowledge. Setting it up and managing a Bitcoin mining business might be complex. I prefer buying and hodling.

[Callido]

Your thread already answered itself.

Investment is easier implemented than mining.

Mining requires several steps which has a difficult set up, compared to investing, anybody with little or no technical knowledge can start up.

As a one man set up, investment is better, then collectively anyone can consider Bitcoin mining.

[DubemIfedigbo001]

Mining is not an individual investment, Bitcoin investment is a sole vestments.

Individuals can run their mining hardware and join mining pools to combine computational power to catch new blocks faster. When a block is found, you get your own share of the dividends with respect to the hashrate you provided.

According to wikipedia "Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later".

Bitcoin mining is a venture that you personally commit both money and resources to in other to get more value overtime as new block are found with mining pools that you'll probably join. It gives you residual income as more blocks are mined, so it is a valid individual investment option, and you can use your own proceeds to Increase your bitcoin portfolio.