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Parking Vs Mining - My Opinion On A Better Investment

Discussion in 'Bitcoin Investments | Discussions' started by Prezzy, Jul 28, 2018.

  1. Prezzy

    Prezzy Leader Protector

    I must say I was very surprised when @gbolahan said that he no longer mines Bitcoins !
    He's one of the first bitcoin miners I know here on Jackobian @ the time genesis-mining and hashflare were still in their tender stage and lifetime contracts on genesis-mining were as though they won't ever run out. Lols.

    But big bro,@gbolahan no longer mines and while that doesn't automatically evolve into a reason to worry, it calls for some concern at least.

    In place of mining, big bro has taken on PARKING which is more like staking.
    If you are not familiar with the terms please learn about them with the links below.

    Staking - How Proof Of Stake Really Works

    Mining - What Is Bitcoin Mining? Beginners Guide To The Process

    Mining vs Staking/Parking?

    In my opinion, both investments are really good opportunities to benefit from the cryptocurrency space and actually I do both of them although am more involved with mining (Bitcoins)

    The cool thing about mining is that you are so sure that Bitcoin is not going anywhere. Even if bitcoin is gonna go away, all the other coins will probably be gone by then.
    So it's rather much safer than parking or staking. But it is hardly more profitable.

    In a post by @philipj recently, he stated 2 major mistakes that people make with Bitcoins.
    From the post , he made it clear that people make the mistake of thinking that there are other Crypto assets more valuable than Bitcoins which is not really true in most cases and he gave a good reason for that.

    So, in terms of long term availability which entails security, you can say people have been mining Bitcoins for almost a decade now through GOOD & BAD times and they have been making profits! It's that safe.
    Yes,! Don't forget about the Profitability aspect

    Why staking is better than mining...
    Staking is a new technology that started in recent years .
    It presents a COST effective way of doing what Bitcoin mining is doing.
    By taking the huge cost off the process of securing the network, people can pocket more money by engaging in the process .

    Staking and parking does one very nice thing for you - it allows you access to the capital with which you started the parking/staking with!
    Yeah, you just have to buy and hold the coin you want to stake (in different ways depending on how it is programmed) !


    Am sure you see why it's a more modern approach than bitcoin mining.

    Also,parking your coins will keep you in a position where you can hardly start losing money just like what happened to mining the other day.
    The only way you lose is perhaps something goes wrong with the coin you are staking and there's heavy dumping .
    Generally , staking is more profitable than mining (Bitcoins) and it also leaves your money in your hands(which is priceless for many people) !

    Final Verdict

    Looking for new opportunities to park and stake some coins is really cool and in many cases you are in control of the system where you are parking or staking.
    You can make a lot of money doing this but it's rather risky putting your money here because the cryptocurrency being secured is relatively newer and less secure than Bitcoins

    Bitcoins on the other hand presents you a first class security and assurance of earnings as long as the cryptocurrency system is alive.
    But it gives you the headache of the possibility of running loss sometimes which is actually worse than it sounds. Also, you don't really control the mining process in different cases such as cloud mining and you can lose everything when it becomes unprofitable to mine Bitcoins!

    I suggest you do your research and engage in both for the sake of diversification and optimizing your earnings . Yes, I do both and I love both especially Bitcoin Mining!

    I hope this helps enlighten you in case you are looking for both Investments to be compared side by side !
     
    philipj, Barnabias, SIC and 2 others like this.
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  3. Prezzy

    Prezzy Leader Protector

    Barnabias likes this.
  4. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Lolz....if am not mining that doesn't stop me from keeping bitcoin dont get me wrong bro
     
  5. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    And beside that i still have contract with bitclub hope you remember
     
  6. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    I have bad time with parking too,as of now,parking yield is low.
     
  7. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Lolz....i doubt that
     
  8. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Mining is more profitable when you mine in your house bro,it give you the opportunity to switch to any coin that is profitable.
     
  9. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Thanks bro....more opportunity are really at the doorstep now,i hope we wont miss it

    Hint:check Genesis vision token,co-trader,covesting etc
     
    Prezzy likes this.
  10. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Parking is a risky investments than mining,cloud mining is still safe than parking right now.
     
    Prezzy likes this.
  11. Prezzy

    Prezzy Leader Protector

    In what ways please ?
     
  12. Adigun

    Adigun Active

    Thanks for your enlighten post @Prezzy, I keep my bitcoin with LUNO, as I am a starter in keeping bitcoin for now, I am afraid of the risk in buying much bitcoin and keep it in wallet, I don't think it is profitable in future if under probability the price of bitcoin fall to the time am in need of money, how do one go about that, becuz no one is certain about how bitcoin price will grow in the nearest future, and as for a student like me, I will always want to look forward to have some cash to be of use in the nearest future. I hope mining will continue to favour in the nearest time
     
    Prezzy likes this.
  13. SIC

    SIC Active

    To be honest @Prezzy you won me over with this, I was going through some research online trying to find what my next investment should be on then came across an investor aswell. Look btc is no1 take it or leave it everyother coins out there depends on it, that was all i needed to hear, from that moment it dawned on me. I was'nt going to keep pouring my cash out to cloudmining instead i need to be in charge of my investment.

    2 years ago i got scammed of btc, left the little i had in my wallet fast forward to 2018 that btc was now worth $60. I'm buying the Minex ideology 'Be your own bank' and plus I believe in multiple streams of income. Thieves in foreign bodies have taken over cloudmining. I'll keep you & other newbies informed soon, my plan is yearly parking
     
    Prezzy, Barnabias and Adigun like this.
  14. Barnabias

    Barnabias Leader

    Both are good and risky at the same time. And parking might even be more risky as stated by gbolahan. Yes, I've been banking with Minex for a while now. 1mnx was $24 when I started now it's $9. So even in almost 6months with all the interest I'm still far from my capital.
     
    Prezzy and gbolahan like this.
  15. Barnabias

    Barnabias Leader

    Another bad news about parking is the interest reduces as the coin gains popularity or increase in price
     
    Prezzy and gbolahan like this.
  16. Barnabias

    Barnabias Leader

    Finally, 11months in mining, 6months in parking, and I've even gave trading a try for a while plus the like of bcc. I think holding one's coin is the best to avoid story that touches the ♥
     
    gbolahan likes this.
  17. Prezzy

    Prezzy Leader Protector

    That's logical as the amount of people now mining for the coins is higher .

    I doubt that Holding is the best bro.
    Sure it's good to keep some coins but in my own experience, any crypto you are reserving in your wallet or exchange is just like money in your pockets

    It's easily spent..!
    I don't think I have any coins in exchanges now. Lols.
    So it's better to lock away your money in an investment and reap the profits when it comes.

    So my advice is don't be tempted to store (all your) coins in your wallet. It's too tempting
     
    Barnabias likes this.
  18. Prezzy

    Prezzy Leader Protector

    I have been considering minex for a very long time now. Lols.

    I now realize that I might actually never get involved, not because I don't want to but matching the risk (as everyone keeps confessing these days) against the Profitability (which doesn't seem far from cloud mining ) I think it's safe to be with mining however Minex still makes a very good option for the sake of diversification!
     
    SIC and gbolahan like this.
  19. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Lolz....for anyone who wants to get involve in parking,it is now as later might be late.

    Take for instance,you have bought many hashrate in 2013 when Genesis mining started and cheap,i think you should understand how profitable it will be by now when the mining output is low.

    Samething apply to parking too,it is at the early stage and many differences will happen. The best time is now to accumulate and enjoy the profit when the price is high(soon when the first product is launch).But we should just take the risk we can bear.

    currently,i can't advice small investors to invest in mining because it is too crowded, only people with high hashrate are really enjoying it(big investors).. It is better to find other alternative to accumulate bitcoin like trading, parking and more opportunity to come.

    Not everybody can invest big but with small amount available we can secure large area in promising stuff but base on our risk tolerance.

    "The best time to plant a tree was 10years ago another time is now" well we dont know if the tree will survive or not so we need to plant many trees at a time.

    Still, mining is good for the sake of unforseen circumstances and bitclubnetwork is good for me as a platform to mine in this period because they never stop mining when other stopped.
     
    SIC and Barnabias like this.
  20. NEYOOH

    NEYOOH Active

    But i have been mining with bits2u since 2016 and no cause for regret. I think mining there is profitable compared to others.
     
    gbolahan likes this.
  21. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Bit2u still working??? Good to hear
     
    NEYOOH likes this.
  22. NEYOOH

    NEYOOH Active

    yes boss.....Infact, I always keep mute while others complain of bitcoin mining not profitable.
     
    gbolahan likes this.
  23. NEYOOH

    NEYOOH Active

    yes boss.....Infact, I always keep mute while others complain of bitcoin mining not profitable.
     
  24. Prezzy

    Prezzy Leader Protector

    yes, they arre legendary in this business
     
  25. Prezzy

    Prezzy Leader Protector

    do you really consider parking to be an investment for the small investor as against mining bro?
     
    gbolahan likes this.
  26. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Parking is best among alternatives to mining....i don't know,if i might be wrong or right
     
  27. philipj

    philipj GrandMaster Crypto Guardian

    A good piece. Both creates room for diversification. Share your investment according to your risk appetite. Things are not going well for the crypto sphere, but it is artificial. We shouldn't panic. Good times are ahead. We need some patience.
     
    Prezzy likes this.
  28. Prezzy

    Prezzy Leader Protector

    am sure we actually need more than just some patience.
    mining has become unprofitable again with hashing24 already bro
     
    gbolahan likes this.
  29. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    We going to learn bro

    I think there is nothing better than having your own farm
     
    Prezzy likes this.
  30. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    I hope future cloud mining will give us better opportunity to mine in a profitable way
     
    Prezzy likes this.
  31. Prezzy

    Prezzy Leader Protector

    well, mining farms will always be the best but let's not forget that we shy away from it because of the high cost of development and maintenance.
    think about it