Buy vs Mine vs Contract Mine | Bitcointalksearch.org

Ladukas

member

Activity: 70

Merit: 10

I would invest my money into mining equipment (scrypt), definitely. The reason is simple: the risk of loosing your money on that is so low. Why? Because:
1. You break even right after mining 30-40 percent of initial investment.
2. You break even at that point because you can always sell your GPU's and staff at least for 60 percent of its initial value.

And if you have free power - you ARE IMMORTAL (oh, at least for 36 months of GPU warranty)

PS there are people who may sell you mining hardware for hundred and sixty percent as well Cheesy

Sido92

newbie

Activity: 6

Merit: 0

I prefere buying, except a few first hours/days of mining, when it's most profitable

thaway

newbie

Activity: 6

Merit: 0

Quote

More money?

The point is,
if the price goes up, you'll make more money buying and holding, than what you'd make buying mining-hardware/-contracts.

But you're of course free to burn your money however you like. Wink

Are you saying that contract mining doesn't make the contract buyer any profits? Or are you saying, Bitcoin value increases will likely exceed the profits that would have been found through a mining contract?

lassdas

legendary

Activity: 3657

Merit: 1448

Quote from: BlockChainLottery on January 15, 2014, 10:57:07 AM

If Bitcoin becomes more popular, the price will go up and you can even make more money.

More money?

The point is,
if the price goes up, you'll make more money buying and holding, than what you'd make buying mining-hardware/-contracts.

But you're of course free to burn your money however you like. Wink

BlockChainLottery

sr. member

Activity: 332

Merit: 250

AwesomeDice.net

Quote from: lassdas on January 15, 2014, 10:43:47 AM

The question was, what todo with $5000.
Using it as a method for paying wouldn't make Bitcoin any stronger. Wink

Yes, that was the question. Cheesy

And the question is implicitly about how to make money with that 5000 dollars.
But I don't agree with your second statement. If Bitcoin becomes more popular, the price will go up and you can even make more money. After all, it is meant as a currency. So people have to actually use it so that as much Bitcoins are in circulation as possible.

lassdas

legendary

Activity: 3657

Merit: 1448

Quote from: BlockChainLottery on January 15, 2014, 10:35:59 AM

I'm missing the option: Using it as an actual method for paying.

The question was, what todo with $5000.
Using it as a method for paying wouldn't make Bitcoin any stronger. Wink

Mining-hardware is way to expensive to expect any profits,
mining-contracts are even more expensive than hardware,
lottery-tickets.....well, good luck. Cheesy

I'd buy and hold.

BlockChainLottery

sr. member

Activity: 332

Merit: 250

AwesomeDice.net

I'm missing the option: Using it as an actual method for paying. That would make Bitcoin stronger, thus more valuable. So the best thing to do is use Bitcoin for savings and use it for buying stuff.

beatup666

newbie

Activity: 7

Merit: 0

thank you

jurjtney0

newbie

Activity: 13

Merit: 0

Just buy and hold.
Mining isnt worthwile anymore.
But mention that there is always a risk, so only spent that much you could afford to lose.

beatup666

newbie

Activity: 7

Merit: 0

Hey Guys

what do you think?

Thanks
beatup666

Topic: Buy vs Mine vs Contract Mine (Read 596 times)