What to do, What to do | Bitcointalksearch.org

Noruka

sr. member

Activity: 910

Merit: 253

Quote from: suukool on December 08, 2013, 12:31:19 AM

Okay, so I'm seventeen and have been watching bitcoin since it was about 60$, I'm convinced as of now that this is the currency of the future,
In the long term the prices are always going to go up, pretty soon I will be eighteen and be able to take my savings and buy a miner, possibly with a loan.
The difficulty for bitcoin mining has risen so much It's not really profitable anymore is it? To someone like me? Let's say I have 500$ to invest in a miner, what should I get? Should I just build a PC and upgrade my GPU to something really nice?

If I want a sound return on my money then should I mine altcoins? I mean when bitcoin booms you know the altcoins go with it.
So should I invest in a scrypt style miner? I hear protoshares are a HUGE interest right now because of how new they are and how close they are to bitcoin.

What should I do?

litecoin mining. 1600 for a 3x R9 290 machine that can net you about 930 a month at 30 USD price tag. Add in the resale ability of the parts and you have a great entry mining point that will ROI in about 2 months.

trade up to BTC at the higher level of the BTC/LTC ratio (.038 - .04) and you are set

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Buy coins, trade coins.
The BTC price will raise again.

vm1990

legendary

Activity: 1554

Merit: 1002

ever since bitcoin and sha256 (bitcoin based coins) went ASIC all the GPUs moved to Scrypt coins (litecoin and such)
and there was a massive boom wich basicly locked out any new members from making a profit
2 coins id be interested in at the moment are
primecoin and protoshares
both are CPU only protoshares is harder to mine but worth about 20x the primecoin
but id recommend against investing in any gear unless you can get it really cheap

suukool

full member

Activity: 413

Merit: 100

Quote from: Voodah on December 08, 2013, 03:43:13 AM

Do not use your money for mining. It's not profitable atm.

Just straight up buy BTC.

Don't trade. Don't do anything.

Keep acumulating and only when you feel you have a decent amount and have done enough research, separate a 10-20% chunk to use for high risk speculation: alts, mining, trading, etc.

Even if I focused on the new coins?

joshv06

hero member

Activity: 991

Merit: 500

I've been watching Bitcoin since it was $3 lol.

Voodah

sr. member

Activity: 266

Merit: 250

Do not use your money for mining. It's not profitable atm.

Just straight up buy BTC.

Don't trade. Don't do anything.

Keep acumulating and only when you feel you have a decent amount and have done enough research, separate a 10-20% chunk to use for high risk speculation: alts, mining, trading, etc.

vpasic

sr. member

Activity: 266

Merit: 250

Without $5000-$10000 to invest in moner it's not worth even trying.
Buy bitcoin with that money and play with arbitrage. With a little of luck you can make some more and buy your self a nice peace of gear.

suukool

full member

Activity: 413

Merit: 100

Okay, so I'm seventeen and have been watching bitcoin since it was about 60$, I'm convinced as of now that this is the currency of the future,
In the long term the prices are always going to go up, pretty soon I will be eighteen and be able to take my savings and buy a miner, possibly with a loan.
The difficulty for bitcoin mining has risen so much It's not really profitable anymore is it? To someone like me? Let's say I have 500$ to invest in a miner, what should I get? Should I just build a PC and upgrade my GPU to something really nice?

If I want a sound return on my money then should I mine altcoins? I mean when bitcoin booms you know the altcoins go with it.
So should I invest in a scrypt style miner? I hear protoshares are a HUGE interest right now because of how new they are and how close they are to bitcoin.

What should I do?

Topic: What to do, What to do (Read 1179 times)