i would just use the 10k$ to buy bitcoins instead of investing in mining hardware.
Topic: If you had 10K to invest would you mine Bitcoin? (Read 2688 times)
Throwing $10,000 into mining hardware at this point in time is just crazy talk! If your really wanting to risk that kind of money your probably just better off buying and holding but even that is pretty risky at this point imho.
Mining altcoins or day trading is more profitable than mining bitcoin imho.
Obviously, for altcoins the problem is that you'll have to adapt to new algos from time to time, so ASIC is not a good option.
Mining is by far the most profitable for hardware vendors. I'd advice against buying dedicated hardware.
Obviously, for altcoins the problem is that you'll have to adapt to new algos from time to time, so ASIC is not a good option.
Mining is by far the most profitable for hardware vendors. I'd advice against buying dedicated hardware.
I would buy bitcoins, the current price is below 300$, just buy them and you can sell them when the price goes up.
I will split the money into some investments, put half in bitcoin / alt coins trading, and the rest to buy some cloud mining contracts. I will never invest them in mining hardware, never !
End of the year, have about 10K to invest in equipment. What would you do?
I will use it as capital to play trading. I started liking for it, and until now I enjoy
Some of you don't believe what I posted about my power rate. If you don't believe me, Google Grant County PUD power rates. You will find your talking out your ass. Our most expensive rate is residential at 4.3 cents. You wonder why data farms and the new big mining facilities are in Cental Wasgington? Their power rates are around 1.5 cents.
Chelan county PUD, Douglas county PUD, Grant county PUD have the cheapest power rates in the US. This is where Microsoft, intuit, dell, yahoo and others have massive data centers. This is where megabigpower is located. This is where asicspac's new facility is.
Chelan county PUD, Douglas county PUD, Grant county PUD have the cheapest power rates in the US. This is where Microsoft, intuit, dell, yahoo and others have massive data centers. This is where megabigpower is located. This is where asicspac's new facility is.
If I had 10k to invest then I'd buy more bitcoins. No more mining equipment investment.
I have been mining for a year now, it's just waste of money because I have to continue upgrading to keep my speeds relevant. and miner get outdated so fast. It's crazy, hash raised a lot faster than expected
I have been mining for a year now, it's just waste of money because I have to continue upgrading to keep my speeds relevant. and miner get outdated so fast. It's crazy, hash raised a lot faster than expected
I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents.
How much does these power rates effect the economics?
How much does these power rates effect the economics?
Where the electricity is soooo cheap?
The national average cost of electricity is ~$0.12 per kwh, and the lowest I have ever seen is ~$0.06 per kwh
Yup. Definitely no where near the mark posted by DirTdel, very dubious at best.
Here's the actual pricing nationwide of electrical in the U.S.:
http://www.eia.gov/electricity/monthly/epm_table_grapher.cfm?t=epmt_5_6_a
As you can see under "Commercial", there's no where in the column that shows $0.04 kW/hour.
I'm pretty sure no one here has access to industrial facilities, that would require a multi million dollar investment or some kick ass deal in a gigantic warehouse in Washington State like Mega Big Power.
I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents.
How much does these power rates effect the economics?
How much does these power rates effect the economics?
Where the electricity is soooo cheap?
The national average cost of electricity is ~$0.12 per kwh, and the lowest I have ever seen is ~$0.06 per kwh
Nope.
$1k for a hobby but odds are you will not ROI. So to answer your question, no.
I would consider buying oil TBH. I see oil offering a 100-200% return in several years. I would hold out until $40ish a barrel though.
$1k for a hobby but odds are you will not ROI. So to answer your question, no.
I would consider buying oil TBH. I see oil offering a 100-200% return in several years. I would hold out until $40ish a barrel though.
End of the year, have about 10K to invest in equipment. What would you do?
I would buy Bitcoins. Personally I would buy a different coin, but this is not the segment to post that.
Between mining equipment and Bitcoin I would go Bitcoin. Its on a downtrend so you may get much lower prices soon, so buy in slowly and not all at once.
Wait a little until I unveil the next generation of mining equipment. Seriously.
For current price, I would answer you buy btc is the best choice
I would of course.
Remember; bitcoin equipment isn't just mining bitcoin.
I would follow newly created sha256 algo coins and dump'em when hits exchange which is really profitable.
Remember XPY, if you catch those opportunities your ROI would be less then 1 month...
Remember; bitcoin equipment isn't just mining bitcoin.
I would follow newly created sha256 algo coins and dump'em when hits exchange which is really profitable.
Remember XPY, if you catch those opportunities your ROI would be less then 1 month...
If my electricity cost under about $0.12 USD per kWh including taxes etc I would consider mining bitcoin.
If my electricity was much more expensive than that I would steer well clear of mining.
If my electricity was much more expensive than that I would steer well clear of mining.
this could be a good moment to begin to play!!!
but just because diff seems to go down..
and i do not know if this is a good think for the future of bitcoin value!!!
next weeks will be fundamental to understand...
I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents.
How much does these power rates effect the economics?
How much does these power rates effect the economics?
Where the electricity is soooo cheap?
i will buy some nxt if i had 10k
I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents.
How much does these power rates effect the economics?
How much does these power rates effect the economics?
How much-this together with miner reliability and price is THE most crucial thing and you are lucky to have these rates, pal.
Slightly overclocked antminer S3 produces ~$55 BTC equivalent/mo at current BTC prices, but at 4c would use just ~$11.4 of electricity/mo (and $4.3 if at 1.5c)
SP31 from Spondoolies would produce ~$550 and use ~$84 at 4c and ~$32 at 1.5c
Still, you would have to run it >6mo to make profit because the machine ain't cheap.
SP20 would produce ~$189/mo use $35/mo at 4c and running full blast at 1.2kw
Still would take >6mo to profit.
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