If you have the ability to buy a good ATI graphics card.. mine with it for a few months and then sell it for close to what you paid for it you can make a few bucks.
you wont get rich though.
Topic: So im new to bitcoin and the whole mining thing... Is bitcoin worth it? (Read 990 times)
September 07, 2012, 08:09:53 PM
September 07, 2012, 06:56:22 AM
Bitcoin is actually much more like a commodity than a stock, and should be considered an extremely high risk investment. It is still an experimental technology, the likes of which have never been seen before in history of human civilisation, and has the potential to completely revolutionise global trade. Historically, investments in such technologies have either made their investors rich beyond their wildest dreams when it proves to be a runaway success, or sent its investors broke when the whole thing failed completely. Since nobody knows whether Bitcoin will succeed or fail, you definitely should not invest more than you can afford to lose.
Remember, past performance does not guarantee future results.
As for mining, you should always remember that it is not "free money" or a get-rich-quick scheme, it is a vital service to the Bitcoin network (without which Bitcoin couldn't survive), and miners get paid for providing this service. Nothing more. It is a highly competitive industry, and you need to really know what you're doing if you hope to make a profit from it.
Remember, past performance does not guarantee future results.
As for mining, you should always remember that it is not "free money" or a get-rich-quick scheme, it is a vital service to the Bitcoin network (without which Bitcoin couldn't survive), and miners get paid for providing this service. Nothing more. It is a highly competitive industry, and you need to really know what you're doing if you hope to make a profit from it.
September 07, 2012, 06:38:24 AM
Mining is not a get rich quick scheme. You don't become rich with your computer.
If you are ready to invest a decent amount in good hardware (->ASIC) then there will be profit.
If you are ready to invest a decent amount in good hardware (->ASIC) then there will be profit.
September 07, 2012, 06:10:05 AM
However, now is the right time to jump on ASIC mining train before it leave the station.
Check out Butterfly Labs SC or bASIC. If you buy them now, you have some good chance to earn some shiny BTCs.
But always remember this:
Also, Bitcoin is store of value and money transfer network. Not get-rich-quick scheme. Main purpose of mining is securing the blockchain. Block reward is just a bonus
Check out Butterfly Labs SC or bASIC. If you buy them now, you have some good chance to earn some shiny BTCs.
But always remember this:
Quote
Bitcoin should only be considered a risky investment. Don't invest more than you are willing to lose...
Also, Bitcoin is store of value and money transfer network. Not get-rich-quick scheme. Main purpose of mining is securing the blockchain. Block reward is just a bonus
September 07, 2012, 05:53:11 AM
Curious to know if investing in Bitcoin is worth it?
Seems to be alot like stocks almost. Dont entirely know.
Worth it to see what happens? Making them seems like a pain tho..
Seems to be alot like stocks almost. Dont entirely know.
Worth it to see what happens? Making them seems like a pain tho..
There are about 85 days before mining revenue drops (in terms of bitcoins produced) by half.
- http://www.BitcoinClock.com
So if you are thinking about GPU mining, now is not the time to start.
As far as investing -- Bitcoin should only be considered a risky investment. Don't invest more than you are willing to lose.
Nobody knows what the future will bring for bitcioin. There are things that the current speculators might be overlooking and thus have overvalued bitcoin. Other things that might come might cause there to be the belief that the currency is undervalued and that it will go up.
Nobody knows though.
September 07, 2012, 12:29:46 AM
Hi there.
I'm new to the whole bitcoin thing.
New to mining and everything else.
Curious to know if investing in Bitcoin is worth it?
Seems to be alot like stocks almost. Dont entirely know.
Worth it to see what happens? Making them seems like a pain tho..
I'm new to the whole bitcoin thing.
New to mining and everything else.
Curious to know if investing in Bitcoin is worth it?
Seems to be alot like stocks almost. Dont entirely know.
Worth it to see what happens? Making them seems like a pain tho..
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