$30,000 on mining or spent on buying coins? - page 4.

crazyoddman

member

Activity: 112

Merit: 10

Quote from: Dr.Zaius on April 20, 2014, 03:20:43 AM

Neither.

Ask yourself if bitcoin is the currency of the future why is the guy who is selling to you parting with his? Especially for filthy fiat? You will be handing 30k to a miner that conjured units of nothing up from thin air because of an "algo".

The time to buy bitcoin was when the market cap was in the low millions, even at low hundreds of millions. Today fully mined supply puts the value at $10-12billion.

You will sleep better having enjoyed the money on something else. You know like something you may actually need and find enjoyment in. Bitcoin has ruined more lives then it has helped.

Am sure he has mentioned its investment money so i dont see it ideal to enjoy the money on something else. Investment is risk therefore its a risk/reward question. If it were me, i would have bought Bitcoin as long as the reward is required in the medium to long term because i am optimistic about the BTC at least testing its previous high before a potential decline or a further surge. I have done trading in the forex market and that is one rule that is 90% likely to be obeyed, a high must be tested again before further decline. I have not really studied much about mining but i think when you buy mining equipment you will know the returns and the timeframe therefore it is rather boring for me to invest in mining and also mining hardware has a lifetime. If you check on ebay, the amount of mining equipment up for sale is just too much and it wont cope with the demands nowadays, which is why i would buy bitcoins.

Dr.Zaius

newbie

Activity: 28

Merit: 0

Neither.

Ask yourself if bitcoin is the currency of the future why is the guy who is selling to you parting with his? Especially for filthy fiat? You will be handing 30k to a miner that conjured units of nothing up from thin air because of an "algo".

The time to buy bitcoin was when the market cap was in the low millions, even at low hundreds of millions. Today fully mined supply puts the value at $10-12billion.

You will sleep better having enjoyed the money on something else. You know like something you may actually need and find enjoyment in. Bitcoin has ruined more lives then it has helped.

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

Just buy coins. Mining has become so competitive recently that 30k is simply not enough to stay in this game for a long time. BTC was almost $1200 a few months ago and I strongly belive it ll go back to that price and above by the end of this year. So your friend might double his money and more.

However, this is what I would do, so make your own decision.

Tripjammer

sr. member

Activity: 394

Merit: 250

I would buy 50 percent coins and preorder two miners from KNC miner...

Neptune third batch at $5500 (sha256)
Mini Titan at $5500 (scrypt)

Put the mini Titan on a scrypt merged multi pool
Put the Neptune in a sha256 multipool

Take the $19k remaining and buy bitcoin.
Take 5 bitcoins and daytrade on cryptsy or mintpal.

fractalbc

full member

Activity: 192

Merit: 100

Do you want the ultimate answer?

Ok, here it is.

Dunno.

Lotsa folk bought when BTC was at 1500 USD. They lost their shirts.

Lotsa folk bought when BTC was at 5 USD. They have, on paper, made a fortune.

So, is buying at 500 USD gonna make you money or loose you money?

Dunno.

Is buying mining hardware gonna make you money or loose you money?

Probably gonna loose you money unless you have really cheep electricity.

Do you think BTC is gonna go up? Are you willing to gamble that it does? If so, buy BTC.

Do you have cheap electricity? Do you think there are going to be no major changes in the mining market over the next half year? If so, buy hardware.

Otherwise, go to Vegas if you feel risky, buy stock if you feel kinda risky or buy a CD if you want to slowly loose your money to inflation.

likesbtc

newbie

Activity: 10

Merit: 0

No doubt about that. Buy BTC

cr4sh0verride

full member

Activity: 189

Merit: 100

If you have $30,000 of disposable income then you should invest in Bitcoin when you understand the principals behind why it's revolutionary
If you see it through to the end you're going to get more out of it than any amount of money it's going to be worth in the distant future

If you do this it doesn't matter if you mine or buy the Bitcoins... or in fact work out which one will get you THE most Bitcoins irrespective of what it's going to be worth next week or next year.

If you just want to make a profit in Fiat pure and simple.. Just buy them and sell if and when they go up

timk225

hero member

Activity: 955

Merit: 1004

Find a casino with a roulette wheel and put your $30,000 on red. You'll either bust or double your money, and a lot faster than by buying coins or mining.

souljah1h

legendary

Activity: 1092

Merit: 1000

Hyperspace snail

split it, 70% buy and buy a mini KNC titan

Light

hero member

Activity: 742

Merit: 502

Circa 2010

Quote from: NorTiaN on April 19, 2014, 11:21:53 PM

Buy BTC. No doubt about that. I've been mining with ASICS since October (mined with GPUs before) and if I had bought coins instead, I'd would made twice the profit...
And dont take too long cause the price seems to be going up...

I would generally agree with this statement. If you're mining then you'll have to cash out to fiat at some point to pay for the electricity which means if the value of BTC goes up you'll have benefited less than you would have if you outright purchased BTC. If the price goes down, you're miners will effectively earn 'less' and you'll still have to convert BTC albeit more and you'll have less BTC holdings. Fundamentally, if you're looking for a profit you'd be better off buying rather than mining unless you're sure that you're getting efficient miners and cheap enough electricity to warrant it.

NorTiaN

member

Activity: 97

Merit: 10

Buy BTC. No doubt about that. I've been mining with ASICS since October (mined with GPUs before) and if I had bought coins instead, I'd would made twice the profit...
And dont take too long cause the price seems to be going up...

Cheers

mrmoogdroog

newbie

Activity: 4

Merit: 0

Hi guys, suppose i'm a late player into the mining game. I've got a friend with around $30,000 to put into investment, i've got very cheap electric so i'm not fused with energy consumption that much, just wanted some advice on what hardware to go forward with. I see that if i'm heading to mine bitcoins that Antminer S1 are obviously the cheapest gh/s. But take as least 2 months to pay off, would it be more with the difficulty change?

I've also seen that KnC have a titan 300mh/s which sounds good, but i'm not sure about pre orders as wouldn't it become less profitable by the time it arrived here in the UK. The other option is to build a few rigs? any hardware recommendations? any advice would be appreciated

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