Hey folks.
I understand that the first people to get the best miners can make a lot of profit, but as more competition comes on to the market, obviously difficulty goes up and the hardware depreciates/captures a smaller piece of the pie. On the flipside, theres probably not many average bitcoin loving joes who bother to mine, and even less who have the required capital to buy the best miners.
Therefore is it worth it to just buy the best and take a gamble that no better miners will be released?
Topic: I have $40,000 to invest - page 3. (Read 4635 times)
Depends on what your goals are really.
Mining is quickly becoming a serious game with serious capital involved. If you are wanting to invest $40k into mining gear, you would be moving far past mining as a hobby. Bitcoin mining is going pro quickly, but can still enter easily with something as simple as a Erupter USB as long as you don't care too much about ROI and are doing it just because it is cool and want to support the network, as every little bit helps. The ROI issue will likely level out but not for some time in a period of explosive growth, so doing the math is very important if you want to see a profit.
I would say start small and see how it grows on you with some Erupter USBs or other lower cost options. Diversity in your portfolio is recommended as it is impossible to tell ultimately where it all goes from here. Buy some coins, securities (or start a securities fund), mining gear, or use your funds to start a Bitcoin accepting business of some kind. In my case I am doing all of those things in the form of BlockBurner
Mining is quickly becoming a serious game with serious capital involved. If you are wanting to invest $40k into mining gear, you would be moving far past mining as a hobby. Bitcoin mining is going pro quickly, but can still enter easily with something as simple as a Erupter USB as long as you don't care too much about ROI and are doing it just because it is cool and want to support the network, as every little bit helps. The ROI issue will likely level out but not for some time in a period of explosive growth, so doing the math is very important if you want to see a profit.
I would say start small and see how it grows on you with some Erupter USBs or other lower cost options. Diversity in your portfolio is recommended as it is impossible to tell ultimately where it all goes from here. Buy some coins, securities (or start a securities fund), mining gear, or use your funds to start a Bitcoin accepting business of some kind. In my case I am doing all of those things in the form of BlockBurner
You could do split it 3 ways: BTC, a Cointerra IV at $14K, and maybe a couple of KnCs, BitFurys or a HashFast since they have the best Miner Protection Program. You'd be hedging your bets on some of the strongest ASIC mfgs. IMO while still holding BTC long term.
I'm not an investment adviser, of course, and I can't tell you what to do with your money but: Your best returns may come from just buying & holding BTC with the way the net. difficulty is going at the moment.
I'm not an investment adviser, of course, and I can't tell you what to do with your money but: Your best returns may come from just buying & holding BTC with the way the net. difficulty is going at the moment.
You will most likely get a lower ROI if you try mining. I would buy bitcoins and hold. Maybe read and learn more while using dollar cost averaging method: http://en.wikipedia.org/wiki/Dollar_cost_averaging
P.S. What is the ideal price for electricity per kw/Hour to run this profitable if we assume bitcoin price hovers around $100?
Hey folks, I have a spare $40k
I want to know if its worth it to buy a mining rig and if so, what should I buy and how do I run it?
Or is it better just to put the cash into bitcoins and just sit on them for a few years?
I want to try mining just for fun, but am a complete noob.
Someone please enlighten me.
Note, this is cash that I can afford to lose, but obviously I'm looking for a profit
I want to know if its worth it to buy a mining rig and if so, what should I buy and how do I run it?
Or is it better just to put the cash into bitcoins and just sit on them for a few years?
I want to try mining just for fun, but am a complete noob.
Someone please enlighten me.
Note, this is cash that I can afford to lose, but obviously I'm looking for a profit
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