Topic: New to Bitcoin. Should I mine or buy coin with my $6000 - page 5. (Read 1026 times)
if I were you I would invest in btc rather than buying a miner because every time those miners get an update while the roi seem to be low hovewer when investing in btc for the same amount of time you may be able to have much more roi.
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?
If you wait a moment, you will buy 1 BTC for 6k $. In 2021, the BTC price increases up to 31k $. You will not lose ... 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 the cost of electricity is not a problem for you, then perhaps it will be profitable. But I would advise you to better deal with investing and trading in crypto currency, as this is a more lucrative way.
It seems obvious for me and then it would be much more effective and last time expensive if you would buy bitcoin instead of mining it, furthermore that a Bitcoin mining became to be more and more time expensive.
For some peoples, they will choose build their own bitcoin mining because its give bitcoin every month. But before we start build our own mining, we should calculate our cost. Electricity cost is biggest cost and we should compare it with bitcoin price.
The mining of all cryptocurrencies has been decentralized for a long time. This made it possible to attract new miners. But now the situation is changing. People with large capital entered this business and now they are gradually increasing their capacity and replacing small miners. It seems to me that soon this market will be completely monopolized.
For some peoples, they will choose build their own bitcoin mining because its give bitcoin every month. But before we start build our own mining, we should calculate our cost. Electricity cost is biggest cost and we should compare it with bitcoin price.
1. If you think that BTC will increase in value against USD
Buy BTC now, and sell later for profit.
2. If you think that BTC will decrease in value against USD
Hold on to your money.
Historically, buying mining equipment (or contracts) instead of the crypto directly has very rarely been profitable (why else would anybody sell the equipment?). And during the few unpredictable periods under which mining has been profitable, you could have made s bigger profit by just buying into the crypto rather than to mine it.
3. We can see only one valid reason for investing in mining
You are a tech geek and love maintaining tons of hardware and software around the clock - for a long time to come.
In a wider perspective, there is another reason not to mine - if monetary profit is your personal goal - and that is: the greater the global hashing power, the greater the difficulty.
Think about it. During the 19th century, very few made a fortune on mining gold (crypto), but a bunch of people made fortunes on selling pickaxes (mining equipment).
This boils down to our final advice:
BUY crypto
SELL mining equipment
HOPE that the market doesn't crash
Buy BTC now, and sell later for profit.
2. If you think that BTC will decrease in value against USD
Hold on to your money.
Historically, buying mining equipment (or contracts) instead of the crypto directly has very rarely been profitable (why else would anybody sell the equipment?). And during the few unpredictable periods under which mining has been profitable, you could have made s bigger profit by just buying into the crypto rather than to mine it.
3. We can see only one valid reason for investing in mining
You are a tech geek and love maintaining tons of hardware and software around the clock - for a long time to come.
In a wider perspective, there is another reason not to mine - if monetary profit is your personal goal - and that is: the greater the global hashing power, the greater the difficulty.
Think about it. During the 19th century, very few made a fortune on mining gold (crypto), but a bunch of people made fortunes on selling pickaxes (mining equipment).
This boils down to our final advice:
BUY crypto
SELL mining equipment
HOPE that the market doesn't crash
You should try booth but listen,if you buy a bitcoin there is always a risk that the price of Bitcoin can drop but it can get higher,and mining you have to have a good computer.So I would say try mining and later if the price of btc gets higher then buy btc.
My advice, you are mining only. If you buy bitcoin then it is enough to buy one bitcoin. Now the bitcoin price is falling so you can only hold the bitcoin passively because if you trade your bitcoin then it is very dangerous because the price is very volatile. Than you just work passively waiting for bitcoin prices skyrocket then you should use your money to do mining. By mining then you become more active in playing in crypto currency. Of course this mining is more promising big profits if you can apply the right and smart strategy.
Buy! I learnt a really serious lesson with mining. My mining has not paid me a dime. Please buy bitcoin withht the money and trade the ups and downs. If you are careful,you will make a ton of 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?
If you are new to bitcoin. It is better to buy first and then study it. So you should study it first and make it better for you to study bitcoin and give it time.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?
My only advice is you buy when the market is down because of this you will earn more profit.
I would suggest you buy Bitcoin, mining is too time-consuming nowadays.
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?
I think you should invest (buy bitcoin) part of your $6000, take note "just a part", not the entire $6000. If you decide wisely like this you may earn as much as you would if you invest it on one thing. Also, the risks are there, if you may fail on your decision, then the entire $6000 would be put on waste.
If you have solved the electricity cost, I would definitely advice mining, it is much less speculative and if everything goes wrong you will still have computing power, that can be used for something else that mining.
I think bitcoin as of this time is in low price. I think you can buy it now, that is the best way to earn more profit. Minig has a big risk, for a newbie to bitcoin, i think you should buy first.
Am not sure anyone will advice you to mine bitcoin at this time given the cost of mining and the cheap price of bitcoin in the market. Anyone who advises you the other way may not be telling you the truth of the market situation. So I think you are better buying bitcoin for a long term than mining it.
I think Bitcoin $ 6000 is still cheap. You should buy at this time. Bitcoin mining is now obsolete. I think you will not be profitable if you exploit bitcoin at this time.
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 suggest you should used that to buy bitcoin because you don't have to worry about billing concerns and the maintenance for your mining set and mining bitcoin is not profitable now but holding bitcoin is much better way because it can gain profit for long term plan. 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?
I am also new to bitcoin donot know where to start from can anyone help me ?
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?
It would be better to invest if you what to play it safe but if you like playing risky and are having a great internet and some cheap electricity then you should buy a miner but I would prefer asic bitcoin miner and not the equihash one as they are the longest trusted Miners in the market till date. 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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