Topic: Best way to invest $5,000 USD (Read 1181 times)
I think you can do it
Hi Everyone,
Wondering what other people on this forum would do right now if they had $5,000 that they wanted to invest in bitcoins or xpm, ppc, etc..
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
Wondering what other people on this forum would do right now if they had $5,000 that they wanted to invest in bitcoins or xpm, ppc, etc..
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
Just buy 5 bitcoins. Investing in equipment it's sadly a worst investment than buying coins directly. As far as it concerns alt coins it's just a bet and since all of the major alt coins exploded recently i don't see any space for more easy and fast money.
With the amount of capital you have, no, mining is definitely not profitable for you. Unfortunately the reality with bitcoin is, that the more popular it gets, the less decentralized it becomes and the more it favours those with already deep pockets. Sorry to say bud, but you missed out on the train. The current bubble will burst, I see it easily going back to $50-100. Sure, there's plenty of greedy people in bitcoin right now, hence the huge increase in bitcoin price to fiat, because people are just learning about it now, but all it takes is 1 significant holder, to not let his/her greed get the better of them, they'll sell off a good portion of their holdings for several thousand percentage points return, and bitcoin price plummets. Wait for the bubble to pop, if anyone knows one sure thing about bitcoins, is its volatility.
I doubt going back to 2 digits could ever happen, sure the price can go under $500, but there are so many waiing to buy, under $100 wont happen
I'd grab some mining equipment and mine a not so popular coin that you believe has potential. I'd also take suggestions in this thread and diversify some funds on shares coins and equipment etc..
Given your options I would use 60% to buy bitcoin and put the remaining 40% into coop mining shares.
With the amount of capital you have, no, mining is definitely not profitable for you. Unfortunately the reality with bitcoin is, that the more popular it gets, the less decentralized it becomes and the more it favours those with already deep pockets. Sorry to say bud, but you missed out on the train. The current bubble will burst, I see it easily going back to $50-100. Sure, there's plenty of greedy people in bitcoin right now, hence the huge increase in bitcoin price to fiat, because people are just learning about it now, but all it takes is 1 significant holder, to not let his/her greed get the better of them, they'll sell off a good portion of their holdings for several thousand percentage points return, and bitcoin price plummets. Wait for the bubble to pop, if anyone knows one sure thing about bitcoins, is its volatility.
I would put it all in bitcoin I really feel it's going to go up so much more
No one can say for sure.
I think the way you are going about this is going to end up costing you money. Are you really going to invest your money based on what random people on the internet tell you? Investors that just throw money at something they know nothing about generally lose that money. Just look at all the newbies that spent thousands of dollars on mining equipment only to discover that they will never make a profit.
Learn about the industry first, then think about what to invest in.
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Learn about the industry first, then think about what to invest in.
Also I am wondering about the mining is dead statement.. Is it really dead? Isn't mining critical to the bitcoin universe since it is how transactions are processed and new coins are made? There must still be profit there to keep people interested?
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Thanks for the response. I questioned that statement because it did not
make sense to me
So if it is not dead then it is possible to still make money with it. I am trying to find the best way to do that. That is why I am asking here before throwing my money into it. I am on here trying to learn more and see if it is something I want to do. You make it sound like I am a fool giving money away.
I say the statement that mining is dead is because (with the money that I have) there is no way I can get a mining rig that will give me ROI. That means that I will lose money so it is technically "dead"
I would put it all in bitcoin I really feel it's going to go up so much more
I think the way you are going about this is going to end up costing you money. Are you really going to invest your money based on what random people on the internet tell you? Investors that just throw money at something they know nothing about generally lose that money. Just look at all the newbies that spent thousands of dollars on mining equipment only to discover that they will never make a profit.
Learn about the industry first, then think about what to invest in.
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Learn about the industry first, then think about what to invest in.
Also I am wondering about the mining is dead statement.. Is it really dead? Isn't mining critical to the bitcoin universe since it is how transactions are processed and new coins are made? There must still be profit there to keep people interested?
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Thanks for the response. I questioned that statement because it did not
make sense to me
So if it is not dead then it is possible to still make money with it. I am trying to find the best way to do that. That is why I am asking here before throwing my money into it. I am on here trying to learn more and see if it is something I want to do. You make it sound like I am a fool giving money away.
I would probably buy bitcoins with that money hoping that the prices will go up.
I think the way you are going about this is going to end up costing you money. Are you really going to invest your money based on what random people on the internet tell you? Investors that just throw money at something they know nothing about generally lose that money. Just look at all the newbies that spent thousands of dollars on mining equipment only to discover that they will never make a profit.
Learn about the industry first, then think about what to invest in.
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Learn about the industry first, then think about what to invest in.
Also I am wondering about the mining is dead statement.. Is it really dead? Isn't mining critical to the bitcoin universe since it is how transactions are processed and new coins are made? There must still be profit there to keep people interested?
This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
Definitively not share in a mining coop, you wont mine as much Bitcoins as you pay for the share in a mining coop (you can buy the shares only with Bitcoins)
If you buy the mining equipment with USD, you might be in profit depending of the price. Use mining calculators to find out
The coop I was looking at would be paid for in USD. It seems like it would be profitable but the calculation depends on future difficulty and future price and results vary wildly based on my different inputs. I am more concerned w difficulty since I am confident in long term performance of bitcoin. Difficulty is rising so fast..
Also I am wondering about the mining is dead statement.. Is it really dead? Isn't mining critical to the bitcoin universe since it is how transactions are processed and new coins are made? There must still be profit there to keep people interested?
I think LTC is still a good option. is the strongest alt coin and I think will have similar behavior to BTC. A lot of people say that the final price will always round 0.1 BTC... so in the best case it can be expected to reach $100 value by the end of the year.
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
Definitively not share in a mining coop, you wont mine as much Bitcoins as you pay for the share in a mining coop (you can buy the shares only with Bitcoins)
If you buy the mining equipment with USD, you might be in profit depending of the price. Use mining calculators to find out
I'd reccommend investing in LTC. The bubble may pop soon, perhaps not, but it's been rising about + 5 - 8 USD for the past few days. Too bad I sold like 250 LTC when they were at $2, I had no hope for them...
Hi Everyone,
Wondering what other people on this forum would do right now if they had $5,000 that they wanted to invest in bitcoins or xpm, ppc, etc..
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
Wondering what other people on this forum would do right now if they had $5,000 that they wanted to invest in bitcoins or xpm, ppc, etc..
Would you buy some mining equipment, buy a share in a mining coop, or buy coins?
I would wait for bitcoin to stabilize before buying, but the risk is: there is chance you wont be able to buy under $1,000 anymore. I dont believe any of the altcoins will be usefull in future, it is just altcoins trap for newcommers
I'd look into mining equipment that is not cryptocurrency specific so it will hold value over longer periods of time.
Mining equipment is increasing in value quicker than your returns, not advisable unless you hold so much you can invest in mining equipment as a hedge.
I'd look into mining equipment that is not cryptocurrency specific so it will hold value over longer periods of time.
I think mining is dead so I would just go "all-in" on BTC. Hopefully I would double the money (at-least). I was into BTC when it was $60 and if I had $5000 dollars then I would have gotten 16x the money back (assuming that I kept all the BTC until this point).
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