Topic: New to Bitcoin. Should I mine or buy coin with my $6000 - page 10. (Read 1026 times)
With the amount you have currently with you, I will suggest you buy bitcoin rather than mining. Mining have gotten harder now compared to those days. You will be surprised that before you get your Roi you might spend a lot more. With 6000 I suggest you buy bitcoin and invest, chances of you making profit is better this way. But you winged serious research so you don't just lose all your money.
Hi Everyone,
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
Investing in bitcoin with your amount of capital will be the most profitable decision, as you don't have to pay for electricity every month if you choose mining.
In my view investing less than 100k $ in mining won't bring you anywhere actually, and to be honest even large bitcoin miners are currently working with minus profit, as break even price for miners per bitcoin is somewhere above 7800$.
Many people already gave up their miners, because they can't pay from their pocket that long.
Investing and holding bitcoin is still the most profitable thing what you can do on the current market especially.
Use it from trading only as it is not sufficient for mining. You can invest in coins like ETH and ripple.
I personally would have considered a third option outside those two. $6000 cannot buy a full bitcoin as at today and to make a decent profit would mean waiting and hope that price would increase to a reasonable point that as well is not certain. On the mining option, its way not should be considered at all for a newbie because of the intricacies of this line of business. But alt trading is just the right one to consider as that would give decent returns within short time but only if done right.
If you still want your money to have some connection with mining you can invest in mining pools by renting equipment to mine.It is more safe in my opinion of loosing your 6k
Mining right now isn't very profitable, unless you can get your hands on some cheap hardware, or live in a particularly inexpensive country, then it might be possible to generate a reasonable ROI. I would recommend sticking to safe methods right now, margin trading, leveraged trading, even day trading small amounts and you should be able to net a fair profit. It would also be wise to diversify, never put all your eggs in one basket as that's just asking for trouble.
You can pay attention in terms of profit and look for profits that can get great results, and you should wait for July to buy a rig, and before buying a rig better you buy bitcoin first so you can benefit from the purchase of bitcoin.
That's right, you can buy bitcoin for now so your investment will run already and when month of July then you may go to your plan that you will buy a rig. Don't waste your time and opportunity to have an investment in bitcoin while you waiting because for sure you can able to earn while you are waiting when you invested to bitcoin for the meantime. Mining is one of the ways of earning profit that much profitable to us so good luck and hoping that you will succeed.
With your 6000 usd I think its better to buy bitcoin first. The asicminer is good choice but I have heard it takes long time to get it and for buying asic only pre order is accepted.
Minign bitcoins will not be possible with this much money. You can trade with it, also diversify with alt coins like ETH.
Hi Everyone,
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
In my opinion it's good if you buy bitcoin worth of $6000 and wait to high the amount of bitcoin. That is only my opinion but its up to you what you what do in you money. I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
Hi Everyone,
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
If you are just only starting now to involve to this system, I think it is better for you to think first what will be the fastest way to earn profit and by doing that I must suggested you to do investment first to btc. Just buy bitcoin and hold it for the meantime and when the value of it will pump much higher so that will be the right time to sell your btc or maybe if you want you can do a long term investment but it's up to you, choose where you are much prepared to do.
As you are new to cryptocurrency, so it would be better for you to buy bitcoin and hold it for long-term. It would be more profitable for you rather than mining bitcoin, as mining difficulty has also increased, it would not be that profitable.
it depends on your decision, I think $ 6000 is enough to buy mining equipment, and you can start crypto mining.
and mining is the most efficient way to benefit from the crypto world.
Some things you should look for good strategy because mining today is difficult. and it will be even more difficult if bitcoin supplies are scarce, and you should always upgrade your mining system.
and mining is the most efficient way to benefit from the crypto world.
Some things you should look for good strategy because mining today is difficult. and it will be even more difficult if bitcoin supplies are scarce, and you should always upgrade your mining system.
I don't think that starting mining now is a good idea (especially on asic). Difficulty grows in leaps and bounds, profit is very low and decreases every day. You have to pay money for electricity also.... So you will get very small earnings per day.
Better invest in some coins. But don't forget about security and buy well-protected wallet!
Better invest in some coins. But don't forget about security and buy well-protected wallet!
If I had so much money, I think I would do both things. You can spend half of the amount for mining and the rest can be spent on buying coins for the long-term hold. There are a lot of articles with the tips on what to invest in and how to do this the right way
That's great if electricity cost isn't an issue. Many miners wannabe are wanting that situation but we don't have choice but to do alternative such as trading and buy and holding bitcoin.
Since you have more than $6000 as you mentioned you'll be able to purchase ASIC miner, then it's best for you to do all of it step by step.
Simply do the step 1,2,3.
Since you have more than $6000 as you mentioned you'll be able to purchase ASIC miner, then it's best for you to do all of it step by step.
Simply do the step 1,2,3.
I suggest you have to buy some Bitcoin first, then hold it until the value goes high. I read a lot of articles and made a lot of research about Bitcoin Mining. and there's a lot of things that you need to consider before you build a mining rig. so instead of using your $6000 in the rig. just buy some bitcoin or any other cryptocurrency and trade it when the time is right. or you can invest in some bitcoin-related busineses.
Mining requires a lot of variables to be profitable...future price of BTC is one, but you also have price and expected output of the hardware, electricity prices, risk that hardware doesn't work etc.
Buying BTC has less variables : the only variable is the price of BTC going up/down.
Buying BTC has less variables : the only variable is the price of BTC going up/down.
Really grateful for everyone's feedback.
I have decided to deeply research more in mining alt coins come this july when new generation graphics cards come out.
I have not yet decided on purchasing BTC right now but I will be thinking more in to it.
I have decided to deeply research more in mining alt coins come this july when new generation graphics cards come out.
I have not yet decided on purchasing BTC right now but I will be thinking more in to it.
Hi Everyone,
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
You can buy bitcoin for your money. But buy bitcoin for 50 percent of your amount. For the remaining 50 percent, buy promising, technological altcoins from the top 10-15 for capitalization. It can be coins like: Iota, NEM, Stellar, Ripple or Neo. I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
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