RE: Why Mine BITCOIN?

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Why Mine BITCOIN?

in bitcoin •  7 years ago 

Why isn't it better to just buy BTC and see, how it grows?

If you put money to the cloud mining it will be frozen for a long time and you will never get it back if the price of BTC will not grow. You will have profit only if the price will keep growing.

If you just hold BTC the situation is better. If BTC price grows - you are in profit. If it falls - you can just sell it.

But you cannot sell the mining resource.

Did you get my idea?

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Wrong. Bitcoin mining is like buying bitcoin at 75% discount. You pay $3080 for 14TH which will give you almost one bitcoin over the 12 month. So you paid $3080 for a $14000 bitcoin.

But what if BTC will cost 3000 over the 12 months?