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Originally Posted by crocos
Does anyone here actually mine, or just trade? If so do you ASIC or use a PC?
Just curious - I've been regretting not getting into mining when I first found out about it freaking years ago, now wondering if getting into mining is worth it or better just trading.
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I mine with Nicehash these days, but had an ASIC years ago (Block Erupter). I regret not having the foresight to realise that "breaking even" back then would have meant large profits today, and some of the BTC I did mine, I converted into gold with goldmoney.com which then implemented fixed rate storage fees and ate away my balance
With Nicehash you mine whatever algorithm your card does best, you get paid in Bitcoin based on people renting your computational power. Everything is automated. It's not immediately profitable if you go out and buy all the equipment, and then pay for electricity. It can be profitable if the price of Bitcoin multiplies (as it has since I started mining). You can easily download Nicehash and see what your current card produces. Recent cards can generate roughly $3USD a day, and probably cost that to run them, so you're effectively just buying BTC very slowly. If its an old card, it'll be much less and not worth it at all.
I'd say you're better off just buying and HODLing, or trading if you're seeking short term gains (or losses, as the case may be).