Quote from: kryptqnick on March 13, 2022, 01:24:33 PM

Quote from: BenjaminGlover on March 07, 2022, 12:17:52 PM

How about this for an improvement: BTC mining vs. BTC possession. Moreover, what is the reason?

In other words, if I had a 40k right now, should I buy a model such as the Antminer L7, for instance? Purchase a single bitcoin, if that is your preference.

I think buying is a safer, simpler and lazier option, which can also bring some long-term profit and easily make $40k into $100k over a couple of years. As for mining, it means not only initial investment which you that need to cover by profits (when you buy Bitcoin, you can always pull your money out, and you'll get more out of it than out of selling mining equipment, probably). You also need to cover the electricity bills, which can be huge. Not to mention maintenance, so that your equipment doesn't break. And, possibly, taxes for doing business, maybe some permits to do that etc. So I'd go with buying Bitcoin.

The days in which someone could just buy a miner and try to mine some bitcoin for profit are over, now it requires that you have deep knowledge about the subject before you even begin otherwise becoming profitable is impossible.

And even if you have that knowledge it means nothing under the current circumstances, after all the price of energy all over the world is going up due to the sanctions imposed at Russia, so it is better to take the safest option which is to just buy bitcoin, secure it properly and hold it for as long as you can.