Your outmost opinion is needed

[TastyChillySauce00]

With $800 i will buy bitcoin, not having technicality headache just hold and it will grow when bitcoin become bullish again.
Are you interested in solo mining after hearing some news about solo miners hitting the jackpot and getting some good amount of bitcoin after solving block? that happens but I doubt it will happen that often otherwise there would be many news about it.

[Fiatless]

With $800 i will buy bitcoin, not having technicality headache just hold and it will grow when bitcoin become bullish again.
Are you interested in solo mining after hearing some news about solo miners hitting the jackpot and getting some good amount of bitcoin after solving block? that happens but I doubt it will happen that often otherwise there would be many news about it.

You just spoke my mind. To avoid mining drama and complexities, I will buy $800 worth of Bitcoin and have peace of mind. The chances of mining a block as a solo miner with cheap machines are low. The news of solo miners becoming lucky is very rare. What is the guarantee that OP will continue to enjoy free electricity for a decade? I would rather go for what I am sure of than to gamble with $800.

[Boston 2.0]

Even with free electricity, buying a miner for under $800 and mining Bitcoin alone would not be a realistic decision. Considering the current mining difficulty, the chances of finding a block with a miner of such low power are very low. So, rather than spending that money on a miner, it may be more reasonable to buy Bitcoin directly and hold it in your non-custodial wallet for the long term, such as 10 years or more.

[purple_sparkles]

Brother I have $800 that's not doing anything for me, I am willing to risk this money, even if I lose it I don't mind at all, I will make it back in 4 weeks,

 I want to take a shot at mining Bitcoin on Solo using 30TH on CKPOOL, I have completely free electricity so, my $800 invested will be all, no additional spending later.

My mind is also telling me to just buy $800 worth of Bitcoin and hold for 10 years.

All I ask for is just 10years, solo mining Bitcoin till that period is doable for me, on the other hand, if I hold $800 worth of bitcoin today till 10 years time, which plan do you think is better?


On behalf of my home boy who is very good at crypto trading, came to visit me yesterday evening and this is the question he asked me, I just told him to chill and let me ask people who are more smarter than me, this is why I created this topic, if you are in the shoe of this home boy, which plan do you think is better?

I wouldn’t get into mining alone with such a small amount of money. With that budget, you won’t be able to buy decent equipment, and in the end it will just become a pile of hardware that will also lose value over time. It would be better to invest that money into some other project, or simply buy bitcoin with the whole amount and avoid unnecessary headaches.

[serjent05]

All I ask for is just 10years, solo mining Bitcoin till that period is doable for me, on the other hand, if I hold $800 worth of bitcoin today till 10 years time, which plan do you think is better?

Just buy BTC and hold it for 10 years.  It will save you from lots of effort and noise.  Miners need to be maintained and cleaned, it also generates heat and noise. Aside from that there is also the possibility of machine failure.  You are lucky if your macine don't malfunction after years of using it but we all know that often times, if we do not correctly maintain our rigs, it will show wear and tear early.

If you buy BTC you can also leave your house without any worries, so you will enjoy freedom from thinking on what will happen to your mining machine if you happen to have some outing or vacation that needs days or weeks if you leave it turned on.

[Kelward]

With $800 i will buy bitcoin, not having technicality headache just hold and it will grow when bitcoin become bullish again.
Are you interested in solo mining after hearing some news about solo miners hitting the jackpot and getting some good amount of bitcoin after solving block? that happens but I doubt it will happen that often otherwise there would be many news about it.

You just spoke my mind. To avoid mining drama and complexities, I will buy $800 worth of Bitcoin and have peace of mind. The chances of mining a block as a solo miner with cheap machines are low. The news of solo miners becoming lucky is very rare. What is the guarantee that OP will continue to enjoy free electricity for a decade? I would rather go for what I am sure of than to gamble with $800.

I definitely agree with you that there is no guarantee that OP will continue to get free electricity in the next 10 years which means that he's reliance on free electricity will be a big setback because free things can stop at any moment. Again most of us haven't heard any success stories about solo miners which is another indication of a failure because you have to consider the statistics of people that are in your category of business whether they are successful or not. The probability of making it as a solo miner with a low budget is very low by my own estimation.

On the other hand buying Bitcoin with $800 to hold for the next 10 years is a very good investment plan, nothing is guaranteed in the future but you have a higher chance of being in profit multiple times over and all you have to do is hold it in your none custodial wallet. If you choose DCA strategy to be toping it from your discretionary funds that is an excellent investment plan.

[m2017]

if you are in the shoe of this home boy, which plan do you think is better?

For someone as lazy as me, the most acceptable option would be to simply buy $800 worth of bitcoin and hold onto it for years until the windfall profits (and greed) force me to sell.

Correction: I'd buy $750 worth of bitcoin and $50 worth of a hardware wallet to store this bitcoin.

Mining (even with free electricity) requires, even for just one device, maintenance, constant monitoring, and, in the event of a breakdown, repairs. Furthermore, it's unclear how long mining with $800 equipment will be profitable or whether it will pay for itself before the hashrate increases (or the device reaches the end of its useful life and becomes unusable). These are unnecessary risks that can be avoided by following a "buy and forget hold" strategy.

[Lontor]

Solving a bitcoin block with $800 miner is near impossible.
For me to support this motion since you have free electricity you need higher Terahash.

Something in the 200TH and higher would do with free electricity, and if possible 400TH.
There is a mining calculator that you can use to see how closer you can get to solving a block.

It's called solochance.org

It's massive that you have free electricity, this is the only thing that's stopping many people from mining Bitcoin right now, but come to think of it, if anyone can manage to set up 400TH on Bitcoin mining wouldn't it be better to join other miners and get paid daily or weekly?

[AYOBA]

You can also tell him that bitcoin is inflationary resistant and it is a good investment, he can just DCA with small amount of money for over a long period of time so that he will be able to hold more than  $800.

If he can afford to lose $800 as he can see it in 4 weeks (which I am sure he is not going to lose but gain more money on it), he can start DCA. DCA with $50 and accumulate it for a longer period of time so that he can safe more than $800 and gain more.

The Bitcoin is the best assets to invest because is not like other assets that if you invest you will be doubtful about and that’s why we can see a lots of people choose to invest in the Bitcoin, again ever since the DCA method was introduced the Bitcoin investment has been becoming more easier than before. Because even those that are facing financial difficulties to invest, with this DCA they can able to accumulate their Bitcoin gradually without having to worry about the market being flooded with liquidity or a lack of funds.

[Faisal2202]

The bottom line is that OP does not have the proper knowledge of how to mine the bitcoin by himself even if there's electricity supply, the process might turn out to be more daunting that anticipated. With his friend also coming to assist him at some point, maybe for the initial set up of the mining system, the best bet would be to just invest it in Bitcoin for the next ten years and avoid all the drama.
 
At least am sure he has the proper knowledge of how to keep it safe and can even add to it without the stress of running a mining farm.
Perhaps, it would be better to diversify into mining BTC along the way while the $800 is still being held in a safe self custody hardware wallet, probably airgapped.

I did not get this line! Are you saying his home boy who comes to visit him will help him? But the OP said his home boy asked the question he shared here. So it was his friend or home boy, not the OP himself asking the question. My apologies if I misunderstood something here. But this is the only meaning I could get from here.

I can't agree more with you because I have also been in this position before, but I don't know how electricity is out of the question for his friend, because electricity is the main concern and if we take it out maybe we would be able to mine a lot and make some good profit even if we don't hit a block reward because the internet is also going to be very cheap. I fear that maybe the electricity his friend was talking about, he might be stealing it haha, anyway only OP could know I can't possibly know that.

But with all the expenses and efforts I landed on investing instead of mining for me and that's what I suggested for him.