Topic: Short term and Long term advice (Read 2214 times)

+1

$20 at the time of writing, and I bought a load at $11 - $12

Speculation is the way to play this. Don't bother with rigs. At least, don't go silly with the hardware.

In fact, we want more people playing the speculation game   Just think of the FOREX market.... worth 4 trillion per year.... so many people playing it, and so much funds in liquid form, that any trades made are instantaneous (spot market), no waiting

If you have the money to burn, dont listen to half these jelous tards here, try straight up buying coin low, and sell high..

Try it.. WTF

Thats the right advice. Get some more from your friend - he should have enough, doesnt he? - and 'create' some awesome ASIC hardware 

There aren't enough decent GPUs for 100k worth of rigs at once unless you order direct from a factory or the foundry at Taiwan.

Even then they will be 6970s etc.. That are much more expensive relative to 5xxx series GPUs.

Sure you can load the rigs with the newest available GPUs but it will be horrible return per mhash/s.

http://blog.bitcoinwatch.com/

Longterm: RALLY.
Midterm: RALLY/Turning down
Shortterm: DOWN

it's just profit taking, given the record highs, what else do you expect?

I think the OP has just seen BTCs fall from $30 to $10 within days, and now recover somewhat to $16.  Do you want to base an investment decision worth tends of thousands of dollars on such speculation?  I feel guilty having just spent $1200 on a couple of mining PCs, and now seeing they'll never pay for themselves unless I mine when the price is $16 and sell if it gets to $30 again.  Will that happen again?  Who knows?  Just because BTCs are difficult to get and rare, doesn't make them valuable.  I have a one-of-a-kind widget here.  None like it in the world.  It should be worth millions, right?

$100k? get into the ASIC business! 

My advice don't spend that money on mining rigs use that to invest in something tangible or invest in another currency. Putting that sort of money in to BTC is a gamble you will lose, the hope that BTC's will be successful  is built on huge amounts of speculation. If you have a gaming rig that needs an upgrade then upgrade that rig with two ATi cards but don't pump in 100k dollars that is just shere stupidity.

Bingo.

Bleh. People who need to ask for advice on a forum shouldn't be playing with 6 figure amounts of money.

Hey guys, I'm no miner, but i've been sifting thru the newbie section and thought someone here may want to help this guy out:

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.

here is where he posted it:

http://forum.bitcoin.org/index.php?topic=15634.0