New to Bitcoin. Should I mine or buy coin with my $6000 - page 9.

ishinn99

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Quote from: HabBear on May 16, 2018, 11:55:32 PM

Quote from: zhpool on May 16, 2018, 11:02:26 PM

Dude do not get in the complication of mining right now as it is not profitable anymore...you can calculate in some mining output calculator sites and you would know yourself its not worth..rather buying bitcoin is simple and can give you much more profit rather than mining.

Seconded!

It'll take you much more than $6000 to earn your $6000 back by way of mining. It's not profitable any longer for the small time player. Bitcoin mining these days requires one to have the investment that rivals that of establishing a business to do so.

I third the motion with you guys, nowadays mining is becoming hard and earn on mining would not be predicted since there are already stable miner that had been mining for a long time, so new miner would be having a difficult time to compete with their upgraded equipment, so I like to suggest for you to invest on Bitcoin or to learn the basic of trading.

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I also agree, this days mining with bitcoin is not profitable better to buy, but if he really prefer to mine better mine new potential coins it will surely give you good profit in the near future.

rollingstorm45

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Activity: 448

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you can make a rig mining premises 5000 and you can start trading with 1000 mu
mining will give you profit periodically and steadily, even if it's small in value
trading will give you profit anytime, even loss, with a large amount
that way, you will find out which skill is suitable for your hand

yesyes18

member

Activity: 546

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To me I think what you'll need later is the profit you'll get from it. So as per your analysis, you should choose the most convenient and profitable option. just analyze cost and benefits and you'll find out which one you should focus on.

Zulfiyan

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Activity: 360

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I think you must mining, but also you can trading(buy coin) so, your can do it all. If you lose in mining, maybe you will profit in trading, Good Luck. It just my opinion. Let's do it and Good Luck

laiya94

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According to the current market status of bitcoin, I think it is better to buy some BTC than mining and later you can sell when it's gone up.

Kingofbitcoin12345

full member

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You have already stated much important points on what is profitable.. I think mining at this time with difficulties and graphic cards prices it is not ideal at the moment.. So I suggest direct buying bitcoin will have less risk than the other one and have more chances of much higher gain.. And also you’re new if ever as a miner,, technicality would be likely a big disappointment..

Take the much easier way as the price now is almost equal to your purchasing power.. That’s more or less to 1BTC at @6700$ price today..

420moviez

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I will tell an obvious thing now, but it is the fact. When the market falls a mining becomes less favorable and to make smaller profit respectively. But if to reduce costs of energy to minimum, then and at the red market it is possible to get good profit

richan

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Activity: 392

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You want profit so evaluate the one that give you more of your money with less effort. The mining is highly regarded to make you make passive earning than the buying and holding which can bring your total bitcoin value to half.

Superzpay

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The coin is ready to boost up very high in the coming few months. It is expected that bitcoin will reach to $20000 within the coming few months so if you will buy a bitcoin then you will get a bigger profit in the coming few months while with a mining rig you cannot mine a higher amount which is expected with investment. Both are better but the profit is higher if you will buy bitcoin with that money.

tambok

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Quote from: Verde_Mantis on June 19, 2018, 04:22:39 PM

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 you are new my first suggestion would be to study more the subject, and then eventually buy bitcoin. Mining it's not that easy and you have to consider a lot of different parameters, so it's a bit complicated if you are new.

Our decision with our money when it comes to cryptocurrency depends on us, our capabilities and our objective in life, if we really want to have mining and we do have an idea how we are going to do it then it would be better, if we don't have much time then simply we can just buy bitcoin.

Verde_Mantis

member

Activity: 336

Merit: 52

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 you are new my first suggestion would be to study more the subject, and then eventually buy bitcoin. Mining it's not that easy and you have to consider a lot of different parameters, so it's a bit complicated if you are new.

Sam San

sr. member

Activity: 630

Merit: 250

Quote from: ?? on ??

Quote from: HabBear on May 16, 2018, 11:55:32 PM

Quote from: zhpool on May 16, 2018, 11:02:26 PM

Dude do not get in the complication of mining right now as it is not profitable anymore...you can calculate in some mining output calculator sites and you would know yourself its not worth..rather buying bitcoin is simple and can give you much more profit rather than mining.

Seconded!

It'll take you much more than $6000 to earn your $6000 back by way of mining. It's not profitable any longer for the small time player. Bitcoin mining these days requires one to have the investment that rivals that of establishing a business to do so.

I third the motion with you guys, nowadays mining is becoming hard and earn on mining would not be predicted since there are already stable miner that had been mining for a long time, so new miner would be having a difficult time to compete with their upgraded equipment, so I like to suggest for you to invest on Bitcoin or to learn the basic of trading.

Subscribe My New sub-Reddit: https://www.reddit.com/r/cryptocurrencyPH/
Follow me on Twitter to gain Followers: https://twitter.com/Chaki44174633

miner is not just buying a mine, it is a profession. you need to have the knowledge and skills to manage the mine. you can get a lot of different coins, but you need to know what and when to produce, what and when to sell.

lillyann

member

Activity: 308

Merit: 11

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 is not profitable now. Unless you get an altcoin. The BTC price is now very low but it will fall. probably up to 4k $.

angel750

newbie

Activity: 476

Merit: 0

Of course buy bitcoin you in the short term will earn more than buy a mining machine.But that's my personal opinion.

Javathon

member

Activity: 169

Merit: 10

It is better to buy bitcoin today that to mine. That amount is not sufficient to get higher yields in mining bitcoin. But if you really want to go on mining, mine other coins and not bitcoin, the mining difficulty is high and not efficient.

Alex_Kidd

jr. member

Activity: 213

Merit: 1

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?

The easiest thing for sure is to buy them, mining this time is not a very profitable operation, too many people wanted to mine during the last months and they have only lost money, I wouldn't recommend it.

Cofee.BLUE

sr. member

Activity: 546

Merit: 250

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?

Well, it's really depends on you in what porte are you much preparing to do. But I think it is better that upon waiting to the month of July it is good that you make some investment first in bitcoin especially for now because it's in the downfall season so it means it can make you much profitable in the near future and maybe before month of July. Being a successful investors is depend in the strategies of coin holder so good luck.

PeRo

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I suggest buying Bitcoins, because the price is really low right now and it will go up soon. Mining is expensive, just the GPU will cost you a lot of money, then electricity will grind a lot of money and you will return your investment in more than a year. Buying Bitcoin could get you a lot of money if you wait even less than a year.

quocsi

full member

Activity: 360

Merit: 100

In my opinion, your bitcoin mining strategies are very good. But I think at the current bitcoin price. You should buy it. Depending on the time when the bitcoin price is low you should buy it to hoard. In the future if bitcoin prices are pushed higher you should use buy rig to exploit.

bitbunnny

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Neither of these options are the best possible but if I have to choose I would definetely skip mining. Too expensive for profit that is actualy not worth mentioning. So don't even consider this option.
Buying is also not very happy option because no matter the current lower price you can't buy the whole Bitcoin but still it's more profitable than mining, especialy on long term.
Have you considered to invest in some Bitcoin related business?

Topic: New to Bitcoin. Should I mine or buy coin with my $6000 - page 9. (Read 1026 times)