First thing, what are you paying for power. If you have a competitive rate for your electricity you can stay profitable even in bad conditions.
Second buy hardware that is cheap or popular enough to have resale value avoid the middle ground. Cases are optional especially if you figure on the GPUs being the only thing with resale value. If you have the option of recouping much of the hardware cost your risk is very low.
Lastly consider where you are going to put the mining rigs. If you are going to have a lot of mining rigs you have to figure out how much each circuit breaker can handle and what you are going to do about the heat. Every watt/hour of power used is a watt/hour of heat generated. If you can avoid the need for air conditioning you will save on power.
Mining is the lower risk/lower return way of investing in bitcoin.
Topic: Need short-term and long-term advice... - page 2. (Read 1882 times)
I know nothing of mining, but i am blessed with the ability to be allowed to communicate with the big kids so i'll post your inquiry in the mining section right now and you can check for feedback there.
edit:
here you go - http://forum.bitcoin.org/index.php?topic=15642.0
edit:
here you go - http://forum.bitcoin.org/index.php?topic=15642.0
Thanks bud
You better understand exactly how mining works before you get into it. As for the direct investment in cash, its difficult to give realistic advice in such a volatile market. Be prepared to lose your friend's money and telling him its gone for good (if you can't, then you probably shouldn't be doing it to begin with).
I know nothing of mining, but i am blessed with the ability to be allowed to communicate with the big kids so i'll post your inquiry in the mining section right now and you can check for feedback there.
edit:
here you go - http://forum.bitcoin.org/index.php?topic=15642.0
edit:
here you go - http://forum.bitcoin.org/index.php?topic=15642.0
Ok so here is the deal.
A friend and I are about to put a few mining rigs together with money borrowed from a another friend (investor) of mine. So obviously we are paying him back in due time. I'm starting to get a good feel of the market place and it's sort of a big deal because I can get a lot of capital from my friend. Even 100,000 USD if I want, to play with. So, given the extensive available capital, what would you recommend on the mining side and short/long term investment side in general?
In the long run, I do plan on dumping a portion of gains into physical silver given the path of the dollar and maybe even some gold but I'm sticking to mostly silver. That aside, just some recommendations to get the best ROI in the short term as well as long term in general.
We're both techies and will be working on some development of some e-commerce project while working the bitcoin market.
I'm a laid off business adviser and am getting ready to take college courses so for now, I have nothing but time and an investor who is willing to throw in capital so long as I can give him a decent return to start.
Thanks for your suggestions.
A friend and I are about to put a few mining rigs together with money borrowed from a another friend (investor) of mine. So obviously we are paying him back in due time. I'm starting to get a good feel of the market place and it's sort of a big deal because I can get a lot of capital from my friend. Even 100,000 USD if I want, to play with. So, given the extensive available capital, what would you recommend on the mining side and short/long term investment side in general?
In the long run, I do plan on dumping a portion of gains into physical silver given the path of the dollar and maybe even some gold but I'm sticking to mostly silver. That aside, just some recommendations to get the best ROI in the short term as well as long term in general.
We're both techies and will be working on some development of some e-commerce project while working the bitcoin market.
I'm a laid off business adviser and am getting ready to take college courses so for now, I have nothing but time and an investor who is willing to throw in capital so long as I can give him a decent return to start.
Thanks for your suggestions.
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