MasterOfMasks
Regular Member
- Jul 31, 2022
- 403
- 264
i understand you help the blockchain if you mine crypto and you get rewarded with $$$, but why should i mine crypto instead of just buying crypto directly?
buy or mine crypto?
- Thread starter MasterOfMasks
- Start date
- Nov 16, 2011
- 19,795
- 11,287
Mining is for long term thinkers. If you are a small investor just buy and sell.
- Jun 16, 2022
- 2,841
- 852
If you have have the funds to buy equipment for mining, go with mining. Otherwise buy crypto with money and wait for it to grow.
MasterOfMasks
Regular Member
- Jul 31, 2022
- 403
- 264
yeah i guess thats the only thing. though to make a considerable profit you need quite an investment upfron :/
Cypherpunk Zero #4027
Regular Member
- Aug 28, 2022
- 230
- 103
Let's say you buy 100 ETH. With mining you get an extra 4% of that every year. So after your first year you have 104 ETH. The price in USD does not matter. You still get 4 ETH. Get it?
MasterOfMasks
Regular Member
- Jul 31, 2022
- 403
- 264
yup, but if usd price goes down, those 4 eth might be peanuts from what i lost
Cryptochick007
Junior Member
- May 9, 2022
- 135
- 51
Buy. Mining takes a lot of time and energy. Too late for that now.
Hawkeye Digital
Rules Violation
- Feb 23, 2022
- 6,316
- 1,708
Buy mate , Mining takes to much of headache and trouble !
Mining is so outdated. The upfront cost is so high. Personally I would prefer to buy and stake the crypto. I get much better returns..
Golden web SE@
BANNED
- Aug 30, 2022
- 700
- 59
Hello MasterOfMasks my suggestion crypto mining is batter
Cypherpunk Zero #4027
Regular Member
- Aug 28, 2022
- 230
- 103
You only stake good projects. The idea is that ETH will grow in usd price. Mining with staking is a multiplier compared to just holdingyup, but if usd price goes down, those 4 eth might be peanuts from what i lost
MasterOfMasks
Regular Member
- Jul 31, 2022
- 403
- 264
yeah mining is good for the long term plus you get pristine-brand-new coins
for eth you need 32 eth to stake, so if you dont have those funds you will only be able to stake eth at "mining pools" that can close your account any time for any reason and you get less % on rewards as the mining pool owner gets a share
Cypherpunk Zero #4027
Regular Member
- Aug 28, 2022
- 230
- 103
Pools are decentralized smart contracts. Nobody can "block" you out.for eth you need 32 eth to stake, so if you dont have those funds you will only be able to stake eth at "mining pools" that can close your account any time for any reason and you get less % on rewards as the mining pool owner gets a share
Of course you get less %. That's exactly how mining with computers work as well. There's a pool of hash providers. You will never successfully mine alone if you don't have hardware that values more than 32 ETH for comparison
xReminisce
Elite Member
- Dec 29, 2012
- 7,329
- 36,738
because instant gratification vs waiting for return of investment
ChipkoDeMayo
Newbie
- Sep 9, 2022
- 21
- 5
I just buy and hold. I used to mine in the past but this was back in 2015 and it's really not profitable for me anymore.
RatSeaExclusive
Junior Member
- Dec 18, 2021
- 193
- 112
Who told you that to obtain crypto mining is better?
MasterOfMasks
Regular Member
- Jul 31, 2022
- 403
- 264
well,, you get brand-new unused coins. so that's cool as the coins don't have history
seancoder
Failed to resolve a dispute resolution thread.
- Mar 27, 2021
- 129
- 39
In lay man terms mining is a method to support any blockchain that uses a proof of work algorithm. So if you dont have the budget nor tech skills nor live in an energy resource friendly environment you better just buy after doing your research.