I make a decent income from my 9-5 and I’ve been following bitcoin for about 2 years, I can afford to buy some Canaan miners but I’m in between buying miners and actually buying sats mainly because I’ve learnt that every bitcoin halving the profitably of one’s miners is cut by half and taking into consideration that electricity costs keep increasing in my country, I don’t want to reach a point where my miners won’t be profitable anymore
I’m from Nigeria, I need help on the best way to go about it to get the maximum profit
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3 sats \ 1 reply \ @Lost_dogz 25 Dec 2023
DCA is a guarantee to end up with more sats than you started with.
Mining is less certain and requires quite a bit of knowledge to do competitively. Even if you're successful in mining, you'll only end up with marginally more sats than through DCA.
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0 sats \ 0 replies \ @YourSatsGuy OP 25 Dec 2023
Thank you
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2 sats \ 1 reply \ @antic 25 Dec 2023 freebie
Agree with other commenters: DCA. Unless you want to start running a mining company and using power offsets to gain additional revenue, the price of mining equipment is almost perfectly aligned to bring death of the hardware before you reach the same number of sats you would have if you had just bought the sats instead of the hardware.
So either DCA or if you are feeling like making a bigger investment and the choice is to buy mining hardware or contracts, just spend that money on sats right now and skip the wait. You’ll ultimately end up with more sats and less headache.
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0 sats \ 0 replies \ @YourSatsGuy OP 25 Dec 2023
Thank you
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10 sats \ 0 replies \ @wassersnaus 25 Dec 2023
DCA. all day. no risk
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0 sats \ 0 replies \ @thebullishbitcoiner 25 Dec 2023
Mining feels the best and is a truer DCA in my opinion.
It doesn’t get emotional.
It doesn’t try to time the market.
It’s just always buying bitcoin via the energy consumption I pay for.
I’m curious what service you use to buy bitcoin in Nigeria tho. Some might say that KYC bitcoin is not worthy even with the discount.
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0 sats \ 1 reply \ @boisechampion 25 Dec 2023
Lump sum and its not even close.
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0 sats \ 0 replies \ @Lost_dogz 25 Dec 2023
Depends, because timing is important with lumpsum. But most importantly, not everyone has a lumpsum. Most people can only stack whatever is left at the end of each month (~= DCA)
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0 sats \ 0 replies \ @Cowboy 25 Dec 2023
Preffer DCA
As you see difficulty hitting new AllTimeHighs
If your income is small, Save your value in BTC.
(I choose DCA)
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