Quote from: SamReomo on Today at 12:39:29 AM

Quote from: deafgoose on March 02, 2023, 06:24:56 PM

Should I buy two S19j Pro's for $3,700 USD and mine it for the next few years or just buy $3,700 worth of bitcoin (0.16 BTC) ?

My worry is that mining difficulty will keep going up and I will run out of time being profitable before I reach 0.16 BTC.

At the current difficulty of mining, it will take over 250 days to mine 0.16 BTC with two S19j Pro's (assuming electricity is free) but the difficulty will be WAY higher in the next 250 days...

I love the idea of mining because it allows me to dollar cost average into the market and there is no KYC involved.

There are pros and cons to both options of buying two S19j Pro's for $3,700 USD and mining it for the next few years or just buying $3,700 worth of bitcoin (0.16 BTC).

Mining can allow for dollar cost averaging and avoid KYC, but there is a risk of not being profitable before reaching 0.16 BTC due to the increasing mining difficulty and electricity costs. It also requires maintenance and may not be as profitable as just buying bitcoin upfront.

Buying bitcoin upfront is less risky and may provide a good return on investment in the long run, but it doesn't generate earnings like mining and there may be KYC requirements when cashing out.

mining is far lower risk than buying coin.

but buying coin means more possible profit.

the idea of say .1 btc at 28000 in coin

or using .1 btc at 28000 to buy a miner is comparable is the problem.

they should never be compared ever since they are different method of investing.

one buying coins is passive
the other buying a miner is active.

if your power is cheap enough profit in mining ⛏️ is pretty certain.

i can buy mining gear with credit cards and pay zero interest for 15 months.
i cant do that with buying a bitcoin.

i get endless tax writeoffs expanding a mine
i get to build solar arrays with my partners with mining
cant do it with buying coins.

I made profit every month since nov 21 price was at 69k because i mine.