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Pros:

PC:
Exclusives.
Versatile and upgradable hardware.
Always the most powerful hardware.
Cheaper games than consoles. (which usually add up to cheaper gaming overall than you get on the consoles including hardware costs, for even powerful gaming PCs)
Cheaper hardware than consoles if you already own a PC and play non-demanding games.
Keyboard & mouse controls as well as a large amount of third party controllers of all shapes and sizes. All in all the most control options.
Emulators.
It's easy to run skype or discord in the background when playing with friends.
LAN parties.

Consoles.
Exclusives.
Cheaper hardware in some cases.
Plug&play
Nintendo games (deserves to be mentioned separately from the other exclusives)
Gaming on the couch with friends.



Cons:


PC:
A little technical knowledge required to get the most bang for your buck hardware wise.
Sometimes getting older games to run is a pain or flat out requires you to have an old machine lying around.
Windows
When you get technical problems that you can't figure out.

Consoles:
Games are way overpriced.
Developers are omitting split screen and local multiplayer more and more.
To play most old games you need the corresponding console. I can play DOS games just fine in DOSbox but good luck playing Vectrex without paying for old and rare hardware.
Weak hardware.
Limited control options.
Region locking.



I LOVE ICELAND!