How to best invest in bitcoins? | Bitcointalksearch.org

ThomasCrowne

full member

Activity: 210

Merit: 100

★☆★ 777Coin - The Exciting Bitco

Quote from: Andrewsiy on July 03, 2014, 12:21:21 PM

Hi everyone! I'm just learning about bitcoins and I was wondering how to best invest in bitcoins on small but long term basis I live in the Philippines and cannot afford to buy hardware for mining. I've recently tried doing some faucets to better grasp how the wallet works and faucets seem like it will take forever to earn a single bitcoin. Any suggestions as to how to go about investing? The budget I can afford for this would be approximately $20-30 a month thanks in advance to anyone who would reply.

It's actually a really good thing you can't afford any mining hardware. Despite what anyone tells you the odd's of your getting your money back investing in bitcoin mining hardware directly or indirectly via cloud mining will only result in disappointment. Not aware of any Phillipine based exchanges but there is a localbitcoins section for your country located here:
https://localbitcoins.com/country/PH

Hope this helps. If you find the rates too high there I would suggest be-friending somebody here in the states. We have it pretty easy purchasing bitcoin at near bitstamp rates via coinbase service.

cech4204a

sr. member

Activity: 252

Merit: 250

12CDKyxPyL5Rj28ed2yz5czJf3Dr2ZvEYw

Try something like dice site, gambling site, maybe even poker site. If you have enough you can create your own site for gambling and manage it. My suggestion is to keep away from Ponzi or HYIP (hope i wrote it well).

Don't spend your money on scams.

infested999

hero member

Activity: 854

Merit: 500

Quote from: Dannie on July 09, 2014, 06:52:27 AM

^ I have been wondering a similar question about cex.io for a long time.
Seriously, 0.0068 per GH/s and $0.26 maintenance fee per month per GH/s ? Why would people buy hashrate at that price?

Well any site can make whatever price they want. The difference is that on Cryptsy's MN1 and MN2 the community actually bought to drive the price up to 0.09

Dannie

legendary

Activity: 910

Merit: 1000

^ I have been wondering a similar question about cex.io for a long time.
Seriously, 0.0068 per GH/s and $0.26 maintenance fee per month per GH/s ? Why would people buy hashrate at that price?

infested999

hero member

Activity: 854

Merit: 500

It makes you wonder who drove the price up to 0.09 or whatever it is now. It would be a solid investment if you buy them at 1/10th of that.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: TiaPuhu on July 08, 2014, 03:57:09 PM

Soooooooo did I just waste btc buying two MN1 Contracts Huh

Luckily, you can always sell them right now for barely any loss

TiaPuhu

newbie

Activity: 6

Merit: 0

Soooooooo did I just waste btc buying two MN1 Contracts Huh

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: infested999 on July 08, 2014, 03:37:35 PM

Thanks for the link. With 15% difficulty increase or more there is no break-even at all with either Cryptsy mining contracts or pbmining.com

Neither with any of the current mining hardware, unless bitcoin's price increase considerably. And these are still several times more profitable than the mining contracts, especially Cryptsy's.

Unless you're a big mining farm which can buy them at half the price and who has access to cheap electricity, or you're a long term holder who's quite bullish, there's no way to profit from mining. It's a shame, really.

infested999

hero member

Activity: 854

Merit: 500

Thanks for the link. With 15% difficulty increase or more there is no break-even at all with either Cryptsy mining contracts or pbmining.com

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: infested999 on July 08, 2014, 03:24:09 PM

Quote from: lynn_402 on July 08, 2014, 03:05:56 PM

Quote from: infested999 on July 08, 2014, 03:01:53 PM

Quote from: lynn_402 on July 08, 2014, 02:48:01 PM

Quote from: infested999 on July 08, 2014, 01:33:11 PM

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

Why would someone not consider that the returns will get lower over time? It's actually the most important fact to consider about these contracts.
The profit made from these will almost certainly drop by 50% every two months, which makes a positive ROI impossible.

Because making this ROI calculation is much more complicated when you have to factor in the loss in returns. I could find the average change in difficulty and find out the real ROI if someone pays me to.

There are easy to use calculators for that

Like this one: http://www.vnbitcoin.org/bitcoincalculator.php

Not exactly the calculator needed. Since these are built for the old GPU-mining days where you pay for hardware in USD: "Miner cost in USD"

This one offers the possibility of typing the price of your miner in BTC:
https://bitcoinwisdom.com/bitcoin/calculator

Really, there's no excuse not to consider the profit lost from difficulty increases.

infested999

hero member

Activity: 854

Merit: 500

Quote from: lynn_402 on July 08, 2014, 03:05:56 PM

Quote from: infested999 on July 08, 2014, 03:01:53 PM

Quote from: lynn_402 on July 08, 2014, 02:48:01 PM

Quote from: infested999 on July 08, 2014, 01:33:11 PM

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

Why would someone not consider that the returns will get lower over time? It's actually the most important fact to consider about these contracts.
The profit made from these will almost certainly drop by 50% every two months, which makes a positive ROI impossible.

Because making this ROI calculation is much more complicated when you have to factor in the loss in returns. I could find the average change in difficulty and find out the real ROI if someone pays me to.

There are easy to use calculators for that

Like this one: http://www.vnbitcoin.org/bitcoincalculator.php

Not exactly the calculator needed. Since these are built for the old GPU-mining days where you pay for hardware in USD: "Miner cost in USD"

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: infested999 on July 08, 2014, 03:01:53 PM

Quote from: lynn_402 on July 08, 2014, 02:48:01 PM

Quote from: infested999 on July 08, 2014, 01:33:11 PM

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

Why would someone not consider that the returns will get lower over time? It's actually the most important fact to consider about these contracts.
The profit made from these will almost certainly drop by 50% every two months, which makes a positive ROI impossible.

Because making this ROI calculation is much more complicated when you have to factor in the loss in returns. I could find the average change in difficulty and find out the real ROI if someone pays me to.

There are easy to use calculators for that

Like this one: http://www.vnbitcoin.org/bitcoincalculator.php

infested999

hero member

Activity: 854

Merit: 500

Quote from: lynn_402 on July 08, 2014, 02:48:01 PM

Quote from: infested999 on July 08, 2014, 01:33:11 PM

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

Why would someone not consider that the returns will get lower over time? It's actually the most important fact to consider about these contracts.
The profit made from these will almost certainly drop by 50% every two months, which makes a positive ROI impossible.

Because making this ROI calculation is much more complicated when you have to factor in the loss in returns. I could find the average change in difficulty and find out the real ROI if someone pays me to.

Triffin

sr. member

Activity: 952

Merit: 251

OP says he can afford $20-$30 investment per month ..

My advice ..

Just buy whatever amount of BTC you can each month and Hold ..
Anything else is just a gamble with an unknown outcome ..

Triff ..

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: infested999 on July 08, 2014, 01:33:11 PM

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

Why would someone not consider that the returns will get lower over time? It's actually the most important fact to consider about these contracts.
The profit made from these will almost certainly drop by 50% every two months, which makes a positive ROI impossible.

infested999

hero member

Activity: 854

Merit: 500

It looks like the Cryptsy MN1 and MN2 contracts have a ROI of ~200 days (without considering the returns getting lower over time). Although it's still better than buying right when they are announced.

TiaPuhu

newbie

Activity: 6

Merit: 0

Quote from: chogath on July 08, 2014, 12:16:24 PM

Quote from: dbshck on July 08, 2014, 12:13:42 PM

Quote from: chogath on July 08, 2014, 12:02:58 PM

Quote from: TiaPuhu on July 08, 2014, 11:45:44 AM

What about the mining contracts on cryptsy? Huh

wait wtf? theres mining contracts on cryptsy?

where do you see this?

https://www.cryptsy.com/markets/view/196 MN2/BTC
https://www.cryptsy.com/markets/view/187 MN1/BTC

Poloniex has it too
https://www.poloniex.com/exchange/btc_mns1

Thanks! I only thought cryptsy was for alt coins, guess not lol.

I just hope that the mining contracts aren't going to take me a stupid long time to make my money back. I would try to day trade with the altcoins but don't have enough extra btc or extra time to devote to watching the market every ten minutes. I think I will probably just stick with the MN1 so I at least know I can get daily BTC deposited in my account. Cant go wrong with that aye?

chogath

newbie

Activity: 54

Merit: 0