Topic: I have 3 Million USD to invest into Crypto Currency - How should I do it? - page 7. (Read 19976 times)

Geez Debit, no need to rub it in.   

Just trying to cut through the malarkey.  No offense Somekind.

~COUGH~ BURN ~COUGH~

Nope, didn't happen.

Checked 18aBb4GfX3QCN64xaJ3W3EuNzHL92v2UU1 Blockchain history.  He got over 100 BTC during one day(I think like April 28th), but no where close to 300 BTC in one day.


https://blockchain.info/address/18aBb4GfX3QCN64xaJ3W3EuNzHL92v2UU1

http://eligius.st/~wizkid057/newstats/userstats.php/18aBb4GfX3QCN64xaJ3W3EuNzHL92v2UU1

You missed this guy's payout day when he got 300 in 1 day. Saw it on the side. It was amazing.

Psh, lets not forget variance!

According to Coinwarz, 600 TH/s generates 34 BTC a day.  Just a little shy of 200 BTC a day.   

You can not get 200 btc a day on 600TH

I recently saw an article about a multi-million dollar mining company go bankcrupt. If an established mining business goes belly up in this environment, what makes you think you can thrive starting now? Especially with only $3 Million? Yes, ONLY $3 Mill. There I said it. I know it's nothing to sneeze at but the most hashrate you can get with it is about 2 - 3 PHs. After paying for electricity, hosting and whatnot, you will be lucky to break even.

Are you the guy advertising on Craigslist San Diego? You sound scammy to me.

I agree with hheelll.  Take that 3 million and invest in a related business.  Forget about the mining business.  Mining hardware manufacturers have no incentive to sell you the hardware early on when they could have mined with their brand new, super powerful hardware, and then sell it to you for high margin profit.  Basically you are getting hand me downs.  Once you acquire the hardware, the difficulty increase 15%-20% average every 12 days.  Meaning the capital investment you just made lost that much in value every 12 days. 

Someone said to deploy 3 million dollars worth of hardware and ROI in 10 days.  Can someone ship that much hardware within reasonable amount of time?  Can you deploy that much hardware within reasonable of time?  BFL and KnC (miner manufacturers) can do the same thing and beat you to the punch. 

A better solution is to take the 3 million and setup shop where you can have cheaper electricity.  Spend some of that 3 million on solar and wind power to lock in power cost.  Utilities have a tendency to increase power rates by 3% average everywhere.  If Bitcoin flops and no one wants to have miners in data center, the data center can host some other equipment.

The ultimate money maker is to own an hydroelectric power plant.  It is literally like printing money.

You could buy some shares in CVFS

Skype Cryptovest

In our crypto safe houses we will be selling mining equipment and our sales people will be really doing what they can to bring Crypto to the general public.

Kr,

Malcolm O

OP, I should have some solid info for you in the next day or two. I think you'll be impressed! 

Buy Avalon module miners. At 1.17 per GH/S (based on the current btc price), it is worth it. With 3 million, you can expect to get 1 PH/S per million so you'd get 3 PH/S. If you were to pool mine that on Eligius, you'd possibly get over 300-400 btc a day. I already had seen a guy with 600 TH get 200 a day. That means it might even be possible to get 1k bitcoin a day and you'd brake even within 10 days. (Count this totally as speculative guessing.

diversify

if you are at the conference in Amsterdam later this week, I would be glad to invite you to our dinner where there will be several other investors.  feel free to PM me and we can chat about it.

Here is a balanced mid-to-long term crypto currencies portfolio you can check out.

Become a exchanger yourself ?

Call me is my best advice if you really want to invest $3 million in Bitcoin. 

I would hazard a guess that most of those who have responded here, do not have 3 million USD to invest in a speculative project.

Neither do I, however I (my family) is worth several million dollars, accumulated by earning, saving and investing, the old fashioned way. A part of my net worth is in liquid form and some of it is in form of real estate or capital equipment.

Consequently, I would not hold my breath awaiting an intelligent investment discussion here, especially on a topic as new and fluid as bitcoin investing. I hope that I am not insulting anybody.

On this sour note, let me continue and say that running bitcoin mining in an air conditioned data center would be prohibitively expensive for the following reasons:

1) You have to comply with various datacenter safety regulations. Proper electrical wiring for a high power density computing project is expensive. You may need to bring more power to your data center, pay for more utility transformers, etc.

While small miners or dedicated miners can skip a lot of safety gear, NEC compliant wiring, etc, an owner of a data center would have to follow all proper electrical practices required by authority having jurisdiction.

2) Assuming that your datacenter is cooled, the cost of energy required to mine, and to cool the air heated by mining, would be at least 3-4 times the cost of an un-air-conditioned miner installation.

So, the choices that you have is

1) Purchasing and passively owning some bitcoin. If you do this, it would be imprudent to trust anyone besides yourself to safekeep your bitcoins.
2) Creating some bitcoin related business.

The difference between 1 and 2 is night and day. I would expect a bitcoin related business to be an enormous hassle in terms of time commitment required. The time drain factors are regulation and money laundering hassles, thieves trying to steal your bitcoins, plus other factors inherent in any other new business venture.

So, if you want to put that 3 million to work as part of your big portfolio, it may be disproportionately time consuming to do it as a bitcoin related venture.

Realistically, this leaves the passive option as the only one viable.

I do not have an intelligent opinion on where the bitcoin prices are headed, and neither does anyone else. So please do not interpret my reasoning as a suggestion that owning bitcoins is better than owning an index fund. I am just saying that more active options may not be a good choice for a "$3M portfolio investment".

The last choice, passively investing in a bitcoin business, is only tenuously related to bitcoins and is akin to any other venture investing.

Buy ultradogebuckblackripplecoins

He says he is :


It would be crazy to invest 3m in bitcoin mining without doing its due diligence

3 million is a lot, I am more interested in how you get that..