Mining vs Trading of Litecoin (possibly other currencies)


#1

I am unsure if this would go into trading or mining, so I submitted into Uncategorized.

I was wondering what the opinion is on what is more profitable, mining or trading crypto.

I was reading up on trading and mining and it says that mining is better in the long run for profits? Cant I make a lot from trading LTC also?

What is everyone’s opinion before I drop my investment, either into mining or trading?


#2

mining depends on WHEN you get the equipment…generaly 1st time the asic shows up as a new product and first in line…

also electric price and someplace to put it

as of today, folks could argue with last years 12x increase in BTC and LTC increase from in April 1st 2017 from $4.15 LTC to $300 LTC you obviously should have just held (unless you got equip about the time of the 4.15 LTC price :slight_smile: )

anyway, as of now…UNLESS you are a miner with equip ROI’d already and are playing taxes and self-employed solo 401k and medical insurance all deductable and NEED in some manner an equip deduction…

you best stay away…at my tax rate etc my risk over paying taxes is 25-30% if the eguipment don’t work out…vs a newbie miner WITHOUT already ROI’d equipment and a biz in the above manner ONLY getting the 25% equip deduction IF he makes enough over taxes to justify it in real taxes paid (profitable mining that year)

so my risk is 3 out of 4 I WIN (with biz paper shuffling etc on deductions and perks above)

the newbie is 3 out of 4 he LOSES…in ONLY the 25% off equipment angle if in the USA (hobby miner)

lastly, if you need it for HEAT say in a basement shop or something …in the winter …you can maybe

also slide for hobby minning for fun…can’t really NOT justify say an asic miner new or used IF you are using

them also to help heat your bsmt as a space heater and using say your shop down there in the winter

…some folk use them to keep their houseboats heated on cold days using dock electric rather than

a space heater…or say you live in Venezula and have 1c kwh electric…things like that …for hobby fun only…

but as of now …unless you are someplace under 5c kwh electric…I’d just sell stuff from the attic on ebay and

do 'attic mining: and sell it on Ebay and then buy crypto with that …‘attic mining’ junk laying about into

crypto or LTC makes a lot more sense…then dubious asic miners if the price of LTC goes up 3x while

you are waiting 3 months for the pre-order in the mail

my 2c so far this year…if you are a big miner you know the tricks vs taxes you need to pay and risks

may not apply to you

brad


#3

I always choose trading because its hard to buy mining farms today. Always watching course changes at https://marketcoinprice.com/