Topic: What to do with 1 Bitcoin? (Read 2498 times)

Maybe learn to pay more attention, because I'm pretty sure I never told anyone to sell/dump their miners. I said it's not - from a profit-driven perspective - the best move to get into mining unless you meet very specific conditions, namely low electricity prices and high investments in crypto, or as a tech-nerd kind of hobby (which is what I do with my rigs). If you're already in it, that's fine. If you just want to do it for the sake of doing it that's fine as well. However, the facts of the matter are that there are much more profitable solutions than mining, that Bitcoin mining is the riskiest of all, and that mining is best viewed as a hedge or hobby.

And by the way, it takes forever to even get an Ant from the main page, which also costs over 2k with a PSU. Hence the high prices from just about any directly available source.

And no, I'm not realizing anything you're suggesting at all. Maybe if you could provide real net profits that consider price changes and network difficulty we can talk. But I've already done the Math with generous and harsh estimates and it's simply not worth it if you're out for maximizing returns. If that is not your goal, then that's perfectly fine, but you keep insisting on the contrary.

 Wow. Simply Wow. I mean literally WOW. (smacks forehead)

 Those prices were the last active prices I ordered at. Simply load the page man, $1415 was the last batch they sold. I promise you any miner here can verify this and verify the prices I quoted.

 FACT: The sons a bitchs make money, and those of us who bought s7's (which still make money) and early S9's from batch 1 up are banking on them. Idid your friggin math, and even if BTC were only $5k USD they still turn ROI in 3 months. Please quit preaching your anti-miner semantics as they simply do not add up. Any person with 4th grade math can figure that out.

You call me a cherry picker because I am biased on mining. Know what... Your right... I am. Reason being it makes me fucking money, pays my bills, allows my farm to continually grow and diversify.

 I seriously don't get you on the whole sell/dump my Ant's. Do you see any threads of me offering a miner at all? Didn't think so. Sure, everything is for sell at the right price. But no way in hell I would sell at what I can buy them for due to time in getting more. I would lose more than I could possibly try to gain.

 Save face? Heh? I stand where I always have. Seems to me your the one who is offended/jealous that you realize your own philosophy on mining is totally construed and lacks any merit whatsoever.

 Ability to analyze all relevant points..... Hmmmmm... Your the one that cannot simply do math keyboard warrior.

 Sorry, I should just stop feeding the fucking trolls and stay on topic as it is clear this forum has a ton of them.

 Back to the question asked. With 1 Bitcoin at todays rate with no farm on hand I would buy 5 s9's and run their tits off and bank next year. If I had 10 bitcoin I would do the same, but only with 7. The rest I would load on multi usb's and put in the safe deposit box (hint hint).

Scrap'

Good luck getting any S9s for anywhere close to that price.
They were around 2k during summer this year and now $3500 is still on the cheap side. Furthermore, whenever you bought your $1400 S9 units, the Bitcoin price was a lot lower which would've dumped the ROI way back down.

All you do is cherry picking, because you're clearly heavily biased towards mining, perhaps so you won't have to admit that Bitcoin mining isn't really worth the trouble. Are you perhaps trying to dump your Antminers? Or are you just trying to save face?

Whatever the case may be, your complete inability of objectively analyzing all relevant points simultaneously invalidates your opinion, which is not even close to being an assessment.

If I were to hold your 1 Bitcoin, I would invest it buy holding it a little bit more until I get the value I desire. I will not be too greedy though. I will make sure I only achieve the amount I want then I will convert a fraction of it to fiat so I can invest in solid/tangible investments. I am scared to be too greedy about Bitcoins because it might be the cause of my downfall. Setting my own standards is key, and I make sure they are S.M.A.R.T. 

If I were you, I would hold my Bitcoins. But first, I would have to work hard to have more Bitcoins through buying at a lower price, selling at a higher price, trading, mining, joining campaign advertisements, engaging into loans, among others. All my earnings obtained from the aforementioned shall accrue to my Bitcoin wallet and I will not spend a thing nor convert the same to fiat because I believe the value of Bitcoins will increase more and more.

 Dunno where the hell your buying from.. but my last batch I paid $1415 for each, and the batch before that I gave $1310 each. This is straight from Bitmain. So now, do your math again and tell me the ROI.

Scrap'

I would suggest you to buy an equipment and start mining more BTC since you have a cheap electricity.

I provided detailed reasoning several times. And it should be obvious to anyone with the most basic understandings of business structures.

But anyway, since you prefer insulting over turning on your brain, here's some hard data.


A single S9 unit costs around $3500 right now and draws 1400 Watts. At 10 cents per KWH and current Bitcoin prices that means a profit of just under $15 a day, which means 8 months of mining to break-even. And this is before the adjusting difficulty or any increase or decline in prices.

Now, since mining is a multi-billion dollar corporate endeavour these days, said corporations will rush to increase their hashrate as soon as they possibly can if the prices allow to do so. And since they are fucking billion-dollar corporations, they will get better prices on hardware, thus further increasing their profitability by decreased costs. Hence, the hashrate will increase very rapidly whenever there is a significant increase in prices (which has happened literally every single time so far in the history of every single cryptocurrency).

As a result, the above estimate will be on the low end even with Bitcoin prices increasing, so in reality you will be looking at longer than 8 months to make your money back. On top of that you have the opportunity cost of losing out on Bitcoin's price increase, that this year around would've equalled a break-even period of less than two months average, which is four times higher than the generous estimate of 8 months on the miner.
The one and only benefit that a miner offers over buying Bitcoin directly is the fact that it could potentially be resold and thus serve as a hedge. This however, is only viable in the event that Bitcoin remains popular, in which case you'll profit significantly more by just holding the coins.

In the event that Bitcoin decreases in popularity, not only your profits will go down by mining, but the resale value will decrease significantly as well because ASICs are completely useless for anything else.
In anyway, the point that I've repeatedly made remains. Unless you're a hobby nerd and want to try out mining for fun, or have a significant amount of wealth invested in crypto that you want hedged against the high volatility and have competitive electricty prices (sub 5 cents because the giant farms will drive the profits down into this range) it makes no sense to buy ASICs to mine Bitcoin.

And in the case of a hobby miner you're better of with GPUs due to the ease of resale in case of crypto going south.



Sorry for taking a dump on your lawn, since you're clearly into mining. But it just simply makes no sense for low net worth individuals from a strictly economic perspective.


P.S. This is calculated at the $7530 price, only a month ago the profit would've been around $8 per day, equating to a break-even period of at least 14 months before adjusting for changes in hash rate. Pretty fucking shitty ROI for a crypto investment.

P.P.S. Complaining about people "sitting high and mighty" immediately invalidates all of your posts. Shows that you can't argue or reason without getting emotional or personal. I recommend working on that.

If i were in your position i wont go for mining even if the electricity is cheap as mining wont give that much profit. I will go for 40% of the investment in other altcoins and balance will keep in btc as you can see the price is moving so high that we can say that it will become hard to earn 1 btc that time. And will work for bitcoins and earn more bitcoins.

 I hate to say it as I don't wanna be that guy but... Your a blabbering fucking idiot.

 I noticed you didn't respond to the post before as you literally have no come back.

 Fact. If you own a S9 you are making over $20+ a day and paying less than .11 in elec.

 You have no basis for your claims, nor any reasonable argument why not to buy one.

 Rather than fucking sit here all high and mighty and preach, how bout you show some real figures as to why not. True that.

Scrap'

Sure, but one doesn't make any amount of money that is worth caring about even without factoring the diminishing returns over time in.

 One makes as much a day as 1000 of them. In fact, 1 makes much more as the infrastructure involved in running 1000 cost MUCH more.

Scrap'

Ok, first off you start with:


 From that point on you have no ground or basis to stand on.

 If said crash happens, it happens to not only miner, but holders, traders, etc., etc.

 Sure us miners have useless machines, but you with your hodl coins have shit too. So now tell me honestly why the fuck you are posting here. If you do not believe in the coin, Why the hell you keep making senseless posts?

 (In Yoda Voice)
 Troll you are, Wisdom you lack.

2.
 Because people that pay .09 here in the US making $20 a day off each s9 are not making money....

3.
 Like all the people that have been in the game for years do not continually grow? By your way of thinking its impossible for a person to do anything without tons of money. WRONG. I made $68k in one day when DOGE launched. Dont feed me this bullshit... and yes, I did it GPUs.

4.
 Really? Can you explain how? Or why? The GPU market is being corrupted more so than the ASIC market if you ask me. Simply check AMD and NVIDIA stocks. They were on a boom, but guess what, they fixing to plummet. They over priced, held back product to milk the fucking system. (Sounds kinda like Bitmain heh?)

 They all fucking do it.

 As Too Short would say.... "Get in where you fit in fool"

Scrap'

Just keep or invest. One Bitcoin is not enough to buy any significant amount of mining hardware.

--->  12TKGjQGveCUKwRBNac9FFR1YzqiBiX7yJ

Buying equipment to mine Bitcoins is not a bad idea, but even if you have cheap electricity, remember this that you will need few months before you ROI on your investment itself and the increase in difficulty as well as decrease in efficiency of the miner from time to time will slow down on the returns that you will get eventually.


Can't say anything on this because all such services look more of a ponzi to me even if they had been there for years.


Best decision according to me, but will prove better for you if you are interested in fiat gains more than "growing" your coins. Sitting and waiting will nil down on risks of losing your coins.


Don't, you might have witnessed the current blood bath but it's not significantly a proof that altcoins will gain immediately after Bitcoin's rally ends.

If you have 1 the best you can do is to invest it into multiple altcoins and used it in trading, or else hold it for long run of time. If you do this you can sure win in 1 bitcoin, because if you used it into mining site you can consume a lot of time or else you earn lost due to high amount of electricity. Moreover if you invest it maybe in 1 year your value of bitcoin will become double or triple if the timing of investing is perfect.

recommend hodl'ing for at least 5-10 years

I think trading will be a good option. Mining is not that profitable anymore. As bitcoin price is going up, holding bitcoin is also a good option.

The thing with Bitcoin mining is that ASICs will be impossible to resell if the crypto market was indeed to crash (which I find unlikely but not impossible).
And due to the age of Bitcoin, the most mining power is centered around it. There are mining farms worth hundreds of millions that are solely dedicated to mining Bitcoins, and those are going to drive the revenue down significantly.
If Bitcoin rises, they are the ones with the needed resources and connections to quickly expand to adjust for the increase in profits. The little miner will only get the left-overs, since the fresh ASICs will go to the corporations first by virtue of sheer purchase volume.

This is completely avoided with GPU mining, so if you're already mining with dozens of GPUs I would probably add more GPUs instead of going ASIC. If I chose to go ASIC I would make sure that I'd have less ASICs (in USD) than GPUs since they are less profitable and more risky.
Considering that you've already got multiple decked out rigs you should be fine with expanding more if you wish to secure more capital by putting it in resellable hardware though, since your electricity is pretty much as cheap as it can get for private use.


Keep in mind that the break-even that you've calculated won't be accurate and will likely be significantly longer though, regardless of whether you calculate ASICs or GPUs.