Sorry, but I think your perspective to the difference between buying bitcoin and mining bitcoin is wrong, there are no guarantees of profiting in both adventures.
The same way a user who buys bitcoin with money could be in loss if the price of bitcoin goes down, is the same way a user who mined bitcoin could be in loss if the mining difficulty is too high, and the money spent on electricity is higher than what the bitcoin mined is worth at the time.
So there is the possibility of profiting and also losing money on both the user that buys bitcoin and the user that mine bitcoin.
Acquiring bitcoins this way does not require you to watch the price every day, wait for the price to rise later, and directly trade in cash.
Mining bitcoin as an individual can only be profitable if the user stays or live in an area where ~
- 1. There is constant electricity in other to power the mining machine and keep it running 24/7.
- 2. Electricity bills are very low, based on how bitcoin mining consumes power, if one stays in an area where electricity bills are high, you discover that by the end of the day, you will end up spending all what could have been your profit on paying electricity bills.
- 3. Government has not place a ban on Bitcoin mining, that is, staying in an area where Bitcoin mining is legal or the government have not taken a stand on it yet.
Relatively speaking, cloud mining is the lowest cost.
But you stand at a whooping 90 to 95 percent of being a victim of cloud mining scam, over 90 percent of all cloud mining platforms that exist today are being run by scammers.
And mining money is drought and flood guarantee. As an investor, we should take a long-term view of mining machine production.
As I said earlier, there is no guarantee of profiting even in bitcoin mining, I know alot of investors that bought mining rigs to mine bitcoin, and after few months, they sold it because mining is not profitable for them.
Its not just about buying the mining machine, there are several other expense involved, for example ~
Setting up the mining rig.
Cost of maintaining the rig.
Cost of electricity. Etc.
All this and more are what to put into consideration before deciding on buying a Bitcoin mining machine.