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Topic: Did I do the right thing? - page 2. (Read 1265 times)

legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
October 12, 2013, 12:55:56 AM
#5
Don't buy the BFL unit  Wink
Try Knc or if you feel a bit less gamblish than BFL for the same price cointerra or bitgarden
Edit hmm BTCGarden offers
200 G/H got the price of a bfl 60 mumble
newbie
Activity: 13
Merit: 0
October 12, 2013, 12:51:49 AM
#4
At this point, consider just buying BTC rather than mining it. With $2,500, you could buy ~20 BTC. If you buy the hardware, wait for it to ship, then spend months (maybe a year+) mining you'll finally get that 20 BTC.

Whether it be tomorrow, or in another few years, Bitcoins are going to be worth even more than they are now. Whether you buy, or mine, both are smart investments. The dollar has been on the decline for the past hundred years. Either buying or mining are smart investment moves. And it's debatable which is the best. I personally think buying BTC is the better option right now. Once the difficulty starts to pan out, consider purchasing some hardware.

Not just the dollar but all of the fiat are inflating badly at  almost more than 7% annually. Also with your decision to sell it, its up to you but don't stop mining until you're about to ship it so you could squeeze few juice out of it.

Oh yeah, my miners are hard at work as I type this Grin It's hard to stop knowing that every hour counts. The thought of keeping the two miners along with the BFL unit crossed my mind but I need to offset my debt somehow.
sr. member
Activity: 364
Merit: 253
October 12, 2013, 12:47:18 AM
#3
At this point, consider just buying BTC rather than mining it. With $2,500, you could buy ~20 BTC. If you buy the hardware, wait for it to ship, then spend months (maybe a year+) mining you'll finally get that 20 BTC.

Whether it be tomorrow, or in another few years, Bitcoins are going to be worth even more than they are now. Whether you buy, or mine, both are smart investments. The dollar has been on the decline for the past hundred years. Either buying or mining are smart investment moves. And it's debatable which is the best. I personally think buying BTC is the better option right now. Once the difficulty starts to pan out, consider purchasing some hardware.

Not just the dollar but all of the fiat are inflating badly at  almost more than 7% annually. Also with your decision to sell it, its up to you but don't stop mining until you're about to ship it so you could squeeze few juice out of it.
legendary
Activity: 1022
Merit: 1001
I'd fight Gandhi.
October 12, 2013, 12:43:40 AM
#2
At this point, consider just buying BTC rather than mining it. With $2,500, you could buy ~20 BTC. If you buy the hardware, wait for it to ship, then spend months (maybe a year+) mining you'll finally get that 20 BTC.

Whether it be tomorrow, or in another few years, Bitcoins are going to be worth even more than they are now. Whether you buy, or mine, both are smart investments. The dollar has been on the decline for the past hundred years. Either buying or mining are smart investment moves. And it's debatable which is the best. I personally think buying BTC is the better option right now. Once the difficulty starts to pan out, consider purchasing some hardware.
newbie
Activity: 13
Merit: 0
October 12, 2013, 12:37:10 AM
#1
Alright, so the bitcoin frenzy caught me big time to the point where I wake up at night and check how my miners are doing. I sort of became a gambler and risk taker having spend about $2500 on mining hardware already. It hasn't been two weeks since I started doing this and I'm already selling my two 10GH miners (block erupter blades) to upgrade to a beefier 60GH BFL unit. I know it's not a lot considering some people are running racks full of them but this has become a problem for me. I always get the buyer's remorse and wish have saved the money instead (my savings account has a little over $100 in it  Sad) ... it's a gut wrenching feeling, I want to stop but I'm addicted to those freaking numbers!!!

My biggest fear is that once mining becomes unprofitable I won't even be able to sell the hardware for half the cost.

I'm curios if anyone else is in the same boat or I just deserve to be smacked.
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