Post
Topic
Board Bitcoin Discussion
Re: Is it better to mine or buy Bitcoin?
by
Hannana01
on 16/03/2018, 02:24:33 UTC
It is easier to buy Bitcoin than mine it. In Bitcoin mining, if you purchase the hardware yourself, You will have to pay for high electricity cost to run the hardware as well as cooling units. There will be regular maintenance cost. And If you purchase an cloud mining scheme, Chances are you would overestimate the number of Bitcoins you will earn through it. Bitcoin mining profitability is not a linear function. It depends on number of factors: Your contribution to total network hash rate, Current Difficulty, block reward and time, Your electricity and maintenance cost, Life period of the equipment or cloud mining scheme. Due to high complexity to mining for Bitcoin, I suggest small investors to buy Bitcoin directly instead of mining it.