What's a better investment?
Thinking on getting into BTC mining but I feel like it's too expensive and no longer profitable, while owning mining stocks could be still profitable by far, is it or am I wrong.
I'm looking at this from the investment perspective...
Thanks for your input.
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27 sats \ 2 replies \ @evanbaer 6 Nov 2023
Buy a mining rig and you'll rarely (if ever) earn enough to pay back the cost of hardware.
Plus, you have to trust a hosting company to run it for you.
Assuming you want to mine at a profit, the easiest approach is to bid on future hashrate at auction - https://rigly.io
- Bid on hashrate per difficulty epoch
- Delivery to your pool account via stratum
- Payment held in on-chain escrow (multisig)
(Rigly is my project)
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100 sats \ 1 reply \ @AfroBitcoin 6 Nov 2023
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0 sats \ 0 replies \ @evanbaer 6 Nov 2023
Thanks!
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7 sats \ 2 replies \ @fm 6 Nov 2023
as an investment perspective..
either you have really cheap electricity or it does not work.. simple
if you think about cloud mining, you end up paying and lose margin, so, not business/investment wise.. better to DCA most of the times
lost sats in most of my cloud mining orders
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0 sats \ 0 replies \ @locomancell OP 7 Nov 2023
That's exactly what I was thinking
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0 sats \ 0 replies \ @evanbaer 6 Nov 2023
Which pool do you use?
Have you tried buying hashrate in Rigly auctions yet?
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6 sats \ 1 reply \ @BITC0IN 6 Nov 2023
neither
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0 sats \ 0 replies \ @locomancell OP 7 Nov 2023
Why not stocks on mining companies though?
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6 sats \ 0 replies \ @chairman_pretense 6 Nov 2023
Home mining only works if you have a use case for the excess heat.
Aside from that, super low hashrate lottery mining is a cool thing I think more bitcoiners should do.
Buy sats not stocks.
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6 sats \ 0 replies \ @nullcount 6 Nov 2023
Just buy sats
Owning ASICs is a poor investment because like all computers, will be obsolete in 10 years. So only buy if you plan to use them with your cheap energy to produce sats.
Owning stock in a mining company is extra risk (beta) on top of BTC.
Most traditional mining companies (gold, silver, copper, etc) do not hold the asset they are producing. They sell it all.
BTC mining companies are bullish so they tend to hold most of what they mine. So when you buy their stock, your buying exposure to their sats plus the risk that they'll go bust. Or alternatively, the chance that they outperform BTC.
I wouldn't buy a mining stock unless I was on the Board of these companies or had some insider knowledge. At a minimum, I would read all their reports so I knew if a particular company had an advantage or a disadvantage compared to other mining companies.
Just buy sats
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0 sats \ 0 replies \ @locomancell OP 7 Nov 2023
Based on all the responses, everything sums up to just buy Sats.
Thank you all ðŸ¤
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