Topic: Friends coming at me with 40-50k to invest into mining rigs - page 3. (Read 3268 times)

With most coin hashing difficulties still increasing at a rapid pace and with market prices declining, that $50k would be better spent on buying coins directly at this point in time. From now until sometime around August 1st, I think most coins will keep declining in price until BTC's immediate future becomes more clear.

Like it or not, most coins still sink or swim with BTC, so if you have faith in your preferred coin I think the next couple of weeks will present many excellent buying opportunities. You will get much more bang for your buck buying right now than investing in overpriced mining hardware, and your 6-12 months payback period is going to quickly become 18-36 months or longer.

Who knows, when the price for mining hardware comes back down from the stratosphere and you can actually buy for under MSRP, and once some of the excess capacity has bled out from mining, maybe in 6-12 months time you can look at getting back into mining. For right now the conditions are the worse they have ever been for anyone just looking to get started from scratch. You cannot use today's profitability figures to forecast several months out, as unless coin prices continue to exponentially increase to keep pace with their mining difficulty, the future mining profits are going to continue to plunge.

Tell your friend that ropecoin is the next best coin to invest, ropecoin is going to fit your friend very well and if he does not get his money back in 12 months, he can always use the ropecoin to commit suicide hehe

Business decisions are always a gamble.

But instead of getting non-factual based answers on forums, you need to go out and do research on the actual facts of mining.

Realistically, what kind of mining hardware can you buy with $50k?
How much has Eth difficulty increased over the past few months? Can you extrapolate to find out what difficulty will be in 6 months? 12 months?
At that difficulty, can you still make a profit?
What are other factors that would change profitability?
Ice age? POS? New video cards? Price drop?
.... plus many more questions

There are tons of facts out there to build a business case and the associated risks.
Generally, the only thing you'll find here is speculation.

The guy invested money, or will, so mining a YoBit pumped coin is the least thing I would recommend. Maybe that will become something legit, but maybe it is just a pump, and it is probably...

Hmmm , actually mining is still profitable if you want to mine ethereum/zcash/ . But the difficulty is still increasing by the time goes , so I think in my personal opinion , ethereum and zcash won't be so profitable in the next year , month December . But I heard lot of miners who are moving to the DUBAI Coin ( DBIX ) , this coin grew very fast and is still increasing . I think DBIX is the next coin for mining
I recommend you and at your friends to start mining as soon as possible and also i recommend you to mine dbix because if you are holding the coins long time you will get on a good profit

A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.


I told him about the risks...we are meeting later today to talk more about this.


He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.


I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.



What do you think, bad time? Isn't it always a bad time?


Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.