New to Bitcoin. Should I mine or buy coin with my $6000 - page 6.

abaidudez

full member

Activity: 504

Merit: 101

Quote from: fleetingmind on May 16, 2018, 10:33:01 PM

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 you should know first which are you good at. If you are good in technical and maintaining a mining rig then you should do that. But if you are really good in trading that $6000 will be more and if will be lucky can multiply it more that can afford to purchase the mining rig you want. Invest it first in bitcoin and learn to trade then if you have earn already enough to buy that equipment to do mining then you should put some cash on it too, so you have too earnings. Good luck.

ice18

hero member

Activity: 2492

Merit: 542

I heard some good news for long term about bitcoin this week and Im surely believe that many investors are slowly accumulating btc in the bear market It can soar up high in coming months thats why my advised to you is to buy bitcoin and hodl it.

aladlanie04

newbie

Activity: 114

Merit: 0

my advice personally to buy bitcoin with 6000$ its in accumulation phase right now u will get at least 0.95 btc for ur 6000$ hold it untill bull run start to reach all time high . mining bitcoin the investment how much u put like example X it takes 1 yr almost to get back ur investment ROI is very little margin in bitcoin because the power consumption is so high and you need to calculate the power also , to pay the bill . better that much money can invest in bitcoin make 2x to 3x flip the coin when rise sell it and when low buy it u can make 10%-30% profit in 2-3 months that is much better than mining bitcoin.

sana9826

full member

Activity: 145

Merit: 100

If you want to get profit much and sooner, maybe you should buy botcoin rather than mining bitcoin. Because in mining, we know that everyday it will collect bitcoin, but it is too small amount of bitcoin that produced by miner. If you buy bitcoin, you can trade it everyday and get profit faster than mie it, but remember it is not be easier to get, there also risk behind that.

EnricoGomez

member

Activity: 238

Merit: 11

Honestly would just buy bitcoin, it is less riskier than mining - plus there are no additional costs excluding the capital unlike mining which is def costy on electricity.
There are vulnerabilities in mining such as damage on the hardware and even shortage on electricity.
You literally get money for patience if you just invest and do buy low sell high.

Jihuny23

jr. member

Activity: 224

Merit: 1

You should learn more in the first about crypto currency. Learn about investing, buying coins, mining, or trading. Once you understand all about the existing business in crypto currency then I am sure that you will more easily determine the business sector that suits you. My advice is better you buy bitcoin with your money then hold it until bitcoin price goes up. Besides that, you can also learn while monitor the market and bitcoin mining movement. Once you understand it well, you can start plunging into the bitcoin mining world. Essentially, if your ability is not adequate then do not plunge into the world of bitcoin mining.

Sevarchik

member

Activity: 420

Merit: 10

If you want mining bitcoin wait the announcements the new asic, S9 is too old and soon will be not profitalbe.
Buying coins also good, but with asic you can mine other sha256 coins in the future

A Feeder

full member

Activity: 392

Merit: 101

Quote from: fleetingmind on May 16, 2018, 10:33:01 PM

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 I have 6000 USD, I will wait bitcoin to dip its price to 5,600 USD and then buy. After that, I will just wait and hold my bitcoin for 5 months and I will cadh out immediately. This is my main option because mining is not that profitable nowadays and it is better if you invest.

Getmon

sr. member

Activity: 1400

Merit: 273

For me, it is better if you use that amount to buy Bitcoin. Make the most of the down market right now. There might never be a time in the future when the price will be as cheap as today. With your $6,000, you can already buy almost a full Bitcoin. If I were you just add a few hundred US dollars to it so that you will have a single Bitcoin as an investment. Mining is good but with a cheap Bitcoin, it is not as profitable.

Dudeperfect

hero member

Activity: 1190

Merit: 534

I would recommend you to buy it as the price is comparatively low considering the current market situation but if you can earn more amount in mining (calculate your profits in mining calculator) and if you can be there to monitor it frequently then you can definitely go with mining option as far as it is higher than your opportunity cost of investing directly.

CHENIEN

member

Activity: 616

Merit: 11

Decentralized Ascending Auctions on Blockchain

If you have enough capital to buy or invest in bitcoin then go for it, and likewise also, if you have enough capital to buy a equipments or gadgets which use to mine bitcoin, well it is also good for you. However all these choices are highly needed of effort and time in order to recover your capital being invested. What I mean is a full time access in order to focus and monitor the market price movement of bitcoin.

Raggie

member

Activity: 462

Merit: 10

Quote from: fleetingmind on May 16, 2018, 10:33:01 PM

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?

Hey, instead you wait until July, why not you buy some good coins back then ?
you will be able to sell it higher in July. There are a risk that the coin price will be lower, but i think when you buy good coins, the price wont drop much.

Kahoy01

full member

Activity: 481

Merit: 100

Quote from: fleetingmind on May 16, 2018, 10:33:01 PM

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?

Mining isn't actually a big and viable method of earning as of now. Apart from this, you are still new to the bitcoin investment industry so you should first understand the basics which will be well known through buying coins rather than mining. It is much more suited for you to mine when you are alreasy proficient and knowledgeable of every thing about bitcoin.

Quesito

newbie

Activity: 119

Merit: 0

For me if I have had that amount of money I would rather invest or buy coins and it should be different coins do not invest all your money in one coin only.The equipment in mining I think is expensive and it takes time to get profit.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: azhariusman1981 on June 21, 2018, 08:49:00 AM

In my opinion it is better to buy and invest bitcoin with your money $ 6000, because according to the prediction some bitcoin price experts will skyrocket again by the end of 2018, when the prediction becomes a reality you will gain a lot of profit, I personally still hold bitcoin.

Well said cause the cryptocurrency market always survive every dump or market correction and what the OP need to do is to invest wisely by putting his money in the right coin cause the mining sector is not that profitable like the early stage of bitcoin. Meanwhile, Mozocoin have the require quality to give good return if you invest into it and theres their Ann thread https://bitcointalksearch.org/topic/1st-tranche-ended-annicomozo-37-million-raised-4169993

hulla

hero member

Activity: 1834

Merit: 566

Quote from: chelle5 on June 21, 2018, 09:56:36 AM

I think you are very wise to know about what you are going to do with your money but you need a second opinion from us all I gonna say is if you Goin to buy don't buy in one you have to devided in two, I mean 50% in bitcoin and 50% in altcoin for example.

I agreed to what you said base on the research which the OP have done before now and in my opinion mining is not that profitable anymore but if you have access to cheap electricity, the require mining tools, space and time you can process cause it seems like mining is the thing you really want. In case, you have a change of heart try out UBCoin it have a great concept and utility.

THATBTC

newbie

Activity: 98

Merit: 0

Quote from: fleetingmind on May 16, 2018, 10:33:01 PM

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 should buy, this is a temporal down, it will increase soon

https://btcmanager.com/major-cryptocurrency-and-blockchain-conferences-in-june-2018/

chelle5

full member

Activity: 238

Merit: 100

I think you are very wise to know about what you are going to do with your money but you need a second opinion from us all I gonna say is if you Goin to buy don't buy in one you have to devided in two, I mean 50% in bitcoin and 50% in altcoin for example.

azhariusman1981

newbie

Activity: 72

Merit: 0

In my opinion it is better to buy and invest bitcoin with your money $ 6000, because according to the prediction some bitcoin price experts will skyrocket again by the end of 2018, when the prediction becomes a reality you will gain a lot of profit, I personally still hold bitcoin.

paparexon0414

full member

Activity: 432

Merit: 126

I have this feeling that you really want to pursue on mining. Eventhough you dont have any problems in electricity, still you should consider this factor. Maybe you have the way to manage your energy consumption, but in the course of time, you will just realize that its not worth it. The really best thing to do now is to buy bitcoin while its in low value. Sooner or later it will go up high again. Depends if you want on short or long term trading.

Topic: New to Bitcoin. Should I mine or buy coin with my $6000 - page 6. (Read 1026 times)