LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE - page 12.

zergenyt09

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Quote from: khaled0111 on November 20, 2017, 05:12:58 PM

Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

I think you should take your time and think about what you are going to do. It is clear that you are new to mining and don't have enough experience.

At least don't invest all your money, you can start with a small amount and if every thing goes well you can invest more.
I hope we will hear good news about your mining experience in the near future.

This is really a good advice. The truth is no one can make the decision for OP and absolutely what everyone would tell the OP here is not to act insane and be realistic as you have to also consider the risks. However, everything about life is risky and as long as OP understands that and he is ready to face the consequences, then it is his call.

I remember the way people blasted Taihuttu when he sold all his stuffs and started trading when the value was around $5000, but now, I believe he should be smiling and must have gotten back all he put in both from trading as well as the increase in value. That is just life anyway!

koinov

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I would stay away from mining because it has become real-real hard nowadays, consider investing funds to bitcoin or top altcoins, there are lots of promising projects at the market right now.

And don't forget to save a bit once you get an income, you always need something left to live on.

serjent05

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Quote from: Thanasis on December 08, 2017, 01:31:31 AM

I think it is not a good idea to to start bitcoin mining because the mining difficult rate keeps increasing so in future you may get very very less award so it is better to buy some altcoins with your savings and hold it for some years then it will surely give good profits.
You also has another option like trading but it needs trading skills to get successful or you may lose your investments,so I suggest you to buy bitcoins for all the savings money and try to do trading with small amount of your holdings,if the trading is going okay for your just continue with it.

Rather than mining, I think it is best to buy Bitcoin since once we have Bitcoin and the price started to uptrend just what happened in the recent days, we can easily see the profit. Unlike in mining, we have to buy equipments and wait for it to ROI and after getting the ROI that is when we can count our profit. It will takes longer in mining than buying BTC or ETH. Anyway, either of the two can do depends on how you see the market.

Thanasis

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I think it is not a good idea to to start bitcoin mining because the mining difficult rate keeps increasing so in future you may get very very less award so it is better to buy some altcoins with your savings and hold it for some years then it will surely give good profits.
You also has another option like trading but it needs trading skills to get successful or you may lose your investments,so I suggest you to buy bitcoins for all the savings money and try to do trading with small amount of your holdings,if the trading is going okay for your just continue with it.

yojodojo21

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Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

Maybe this post should be moved to mining hardware discussion thread if OP is looking for best mining hardwares, there you can ask elite and professional persona but always discern who is reliable.

You really do prefer to mine? I suggest you make it all in of your life savings converting it to btc and then do HODL this is the best way to invest as of now.

carlisle1

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Quote from: squall1066 on November 14, 2017, 05:50:27 AM

I strongly advise not to go "all in"

if you can comfortably afforded one miner for one coin, and have some left over as long as you have cheep power and reliable internet, then maybe consider it.

other than that I could not offer better advice than buy some btc and sit on it! no running costs and if you can sit out the roller coaster of a price ride, it will eventually pay off.

maybe OP has big capital having hes Life savings so we can consider
that he can afford having couple of miner,but for me dont just go full in miner
maybe OP can make some investments and i prefer he could learn trading even
starting small capital i to it.

But always remember JUST INVEST WHAT YOU CAN AFFORD TO LOSE

Invest-or

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Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

I really hope you are either not serious or you are very very young. Mining is rarely profitable... sometimes you may have a good day (Thank you electroneum for that first night) but normally not.

ija61

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I can't give you advice on what to invest and if you are looking to invest your life saving I will suggest to start reading and get a better understanding on crypto world. Is not wise to take your saving and ask someone what to do with them....

Another advice will be to not put all your money in one investment, especially on trading. This is called money management and you must find a comfortable ration.

But as mentioned before you do anything start to read un get a better understanding about this.

SixOfFive

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I don't think anybody in this forum will advice you put all your lifetime saving on the stake to something which is decentralized and not even legally approved. Still if you want to try your luck and can bear so much risk, i suggest you go for trading.
Mining need some technical skills and have 1 time investment on stake where as trading is comparatively a safe option you can enter with a small amount too and can exit any time you want.

ahmad21

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Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

NO NO a big no. I have been in cryptos from quite some time and all what I have realized so far is that don't put that much in crypto what you can't afford to lose. Whatever we say about crypto they are still full of loopholes and problems. Not free from scams and hacking. There are several other risks too. You can surely buy hardware to mine Ether and bitcoin but don't just blindly spend away all your life savings.

raven7886

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Quote from: michellee on November 23, 2017, 10:58:43 PM

actually you only need to buy new computer with good specification like asrock btc mobo, 4-8 gb of ram, ssd hard drive or physic hardware and I think 1 terabyte is enough, vga card like r9 or high-end vga, pure power supply 1000watt. but unfortunately I don't know how much the price and I think you can visit amazon or ebay to see the price. the important thing vga card hardware you need to buy is the high end hardware because with this hardware you can expecting to mining a lot of coins although to mining bitcoin is really difficult. or if you don't want to get trouble, you only need to buy hardware like D3 or L3 and then you need to connect the hardware with your pc and then the hardware will work by itself.

Buying hardware will do a better work than trying to spend so much getting a PC with a very high configuration. That would be a whole waste of time at the end which would be regretted. Mining these days requires a lot of things to consider, and the most important is the rate of electricity where you are.

Once all this can make mining feasible, then choosing the right hardware for the coin you want to mine is just the best and that can be done from research.

cabron

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Quote from: Kevin77 on December 04, 2017, 10:48:14 PM

Quote from: LuanX3 on November 28, 2017, 06:43:36 AM

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

There are so many alts that are undervalued right now and only if people can do some research to find them. Waves is one of them and in a short while I won’t be surprised if it ends up having the same boost Ethereum had this year in coming years. Not just waves, there are so many alts and even upcoming ICOs and it is all about being smart.

Like someone rightly tells me, you do not have to work hard; you just have to work smart. I would not consider investing life savings into being smart though as you also have to consider all the risks involved.

I would have to agree its not just those huge altcoins that has the potential, you gotta have the time to research each of them. If you can pick the ones with better project and team, you can exponentially profit than you thought. If I have the money, I probably would buy the cheapest ones but have the best technology. Some of them might just be ADA which I already have some, IOTA and EIDOO a good wallet with their exchange.

tweetbit

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I think to devide the investment is the best advice anyone can give, I’m a bitcoin users and altcoin believers at the same time. We know how hard to earn bitcoin and the price is so highly to buy some but altcoin is much cheaper and much easier to earn if giving some effort to do so. Take this advice as a reminder that open your mind in every option that is available and don’t look for one but all profitable coins.

Kevin77

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Quote from: LuanX3 on November 28, 2017, 06:43:36 AM

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

There are so many alts that are undervalued right now and only if people can do some research to find them. Waves is one of them and in a short while I won’t be surprised if it ends up having the same boost Ethereum had this year in coming years. Not just waves, there are so many alts and even upcoming ICOs and it is all about being smart.

Like someone rightly tells me, you do not have to work hard; you just have to work smart. I would not consider investing life savings into being smart though as you also have to consider all the risks involved.

laredo7mm

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Diversify your investments in bitcoin and other altcoins like eth, monero or ripple as it will be very risky to invest your money at a single place and when it comes to an investment its not limited only to online world there are many good options in real life too like gold, real estate, stocks etc so you should consider those options too for making an investments.

cabron

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There are a lot of crypto to invest with but I think most will agree not to put all your money in one basket. If this is your life saving, then just put it on your live savings account and just invest some money you can afford to lose in crypto after all you are just new and you may have not learned all yet. I'm sure you have already heard of some scams here and regarding ICOs.

Bitcoin is quite expensive, so maybe you might try other coins which are cheaper yet already are reputable and have proven track.

d1ceplayer

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Quote from: Laland on November 28, 2017, 03:56:54 AM

Quote from: n691309 on November 27, 2017, 02:32:40 PM

Quote from: bitcoin31 on November 14, 2017, 04:52:35 PM

Invest only you can afford to lose because many people want to mine are failed because we don't know how mining will run .
Make a research what miner is good for ethereum and bitcoin because I cant start mining when Started in bitcoin world.

Most people who started out mining and failed are those who really did not do some feasibility studies before venturing into mining. Mining is not for everyone and as much as it pays some people, it does not pay some.

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

I failed mining because of those cloud mining. But if would really invest your own tech to mine, their is a high chance that you would actually get profit than mining or any other investments in the market. You just have find the good coins and the right tech for each of them.

Cloud mining is not even the in thing right now and despite all the screams of those who already have the experience for newbies not to go into cloud mining, I still find it amusing that some people really still do anyway.

It is even funnier when you find out that you can make a lot from using that same money to buy the hardware and mine yourself. As long as you are not in control of your investment, it is better to just stay away.

noormcs5

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Quote from: Sadlife on December 02, 2017, 06:29:13 PM

I think it is better for you to just invest your money in bitcoin especially while it is still in a dip this is a good opportunity to buy cheaper bitcoins. If you have 1500 usd then buy bitcoin worth with that then you can just sit back and relax while btc price go up. Where in mining there is a lot of cost like maintenance fee, electricity fee and also your internet bill, mining is really costly.

But he choose a right way, now to see the bitcoin price it is continuously go to high. So if he will use his money in bitcoin then i am 100% believe on it that bitcoin never let him down. Although i agree with you, firstly he should use his limited amount in bitcoin and then if he is fully agree on it then sure use his all money on bitcoin.

syaripudin

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it looks like you're just about to start a mine now instead of wanting to get a considerable profit by buying some hardware for a mine. but if I can advise you if you do not learn it first because I think that what you say seems to be you are about to start this activity so think before you start the activity because it really needs a good experience. I think what you should do right now is investing in bitcoins because I do not think it costs too much as you would buy a tool for mining.

Sadlife

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I think it is better for you to just invest your money in bitcoin especially while it is still in a dip this is a good opportunity to buy cheaper bitcoins. If you have 1500 usd then buy bitcoin worth with that then you can just sit back and relax while btc price go up. Where in mining there is a lot of cost like maintenance fee, electricity fee and also your internet bill, mining is really costly.

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