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Antminer vs mining company

You can buy a lot more hashes per second per dollar (insert your local fiat) with an Antminer than you can with a bitcoin mining company.

So, help a newb understand some pros and cons to the Antminer? I understand stocks well enough – though feel free to share your reasons for investing in a mining company if you want.

But, when it comes to the Antminer series (S19 pro the latest one?), how do you determine the risk that offsets the profit?

For me it looks something like:

* Private keys for owning your coins
* Complexity of set-up or account management
* Customer service ([Crypto.com](https://Crypto.com) sucks balls. Sorry don’t argue with me about it. I know from a very shady experience that is a felony and will never use them because of it).
* Transferability of coins from exchange to exchange.
* Technical issues with the hardware itself.

Each of those are where I really trip-up on wanting to get into mining in a pool. I don’t know where to create a wallet. For instance blockfi sounds good because of the APY – but you don’t own your own private keys.

I don’t know where to mine coins to so that they are the most liquid, such as Coinbase is a closed loop so can’t move coins off their platform? Does that just mean transfer to dollars? What if I want to keep coins on Coinbase but want to mine to Blockfi for the interest rate? How does that all look **IN GENERAL**?

Which exchanges/wallet holders(?what are places like blockfi even called?) have the best customer service, or the best ability to negotiate legally if shjt happens. Because let me tell you, [Crypto.com](https://Crypto.com) has nothing and can take everything from you and you can’t even sue them.

Does it matter to be able to transfer coins? Are some exchanges or wallets less liquid than others?

Lastly – what’s the complexity and warranty (if any?) for an Antminer, what’s the actual experience there like? And what’s it’s shipment times given the rush to get one by these large miner companies? What if an Antminer breaks in just 2 years, are you S.O.L.?

Thanks for any discussion that rolls in.



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3 Comments

  1. For mining
    https://www.econoalchemist.com/post/home-mining-for-non-kyc-bitcoin

    Everything else you wrote is confused babble, not relevant to mining

    > What if an Antminer breaks in just 2 years, are you S.O.L.?

    It’s not likely to last that long. Profitable miners are lucky to keep their machines running more than 12 months, and make their own luck with proper cooling – high capacity fans blowing the heat out of the room. Serious miners know how to use a multimeter and soldering iron to diagnose and repair their equipment

  2. If you order an ASIC miner from a manufacturer, you’re probably going to have to wait 6-9 months before it is delivered.

    If you find a random reseller promising quick delivery, they’re probably scammers.

  3. For a low cost/risk lesson in mining why don’t you pick a decent POW Altcoin and try mining it with your desktop PC and GPU.
    The same steps are required to mine RVN, for example, as for BTC except you can do it with a 200$ GPU vs a 10000$ ASIC.
    As for investing in a mining company, this allows BTC exposure to investor money locked in legacy structures (IRA, RRSP).

What do you think?

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