RE: Why Mine BITCOIN?

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Why Mine BITCOIN?

in bitcoin •  7 years ago 

You are assuming with the hindsight that investing in cryptos will be profitable x times. but in real life not everyone makes money. past few months have been crazy but it will not go on like that all the time. for the most part crypto was going up and down both in last few years. so there is a decent chance that your investment will keep lowering.
however, in case of mining you keep getting the coins and if the market is bullish then it will be going up as well. When btc makes a correction, whole market goes down.

if you can, i would suggest split your money and do mining, investing and staking. if you are good at trading or investing, then use the mined / staked coins to trade and increase that.

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You don't have to be good at trading to make money mining bitcoin. Plus, 90% of traders lose money. Mining bitcoin doesn't require any skills; just thinking independently enough not be influence by the haters.

I am a trader and i have made some profit and loss in trading. i am also mining ether on Rx 580 rigs at my home. i still believe the best way is to do both if you can. if you are looking for side income and dont have time then mining is good. if you have some time on hand and you want a primary income then you must have more revenue streams for stability.