Topic: What would you do with ~$10,000? - page 2. (Read 2542 times)
Either buy a KNC miner or build a scrypt mining rig. With 10 grand you probably can build a good one.
I'd buy some Bitcoin, litecoin, silver, and save some cash.
I'd go to Disney World. 
I will join ! Go to Disneyland and ride on all attractions there. When go to another Disney Land!)
ASIC Mining gear is the best option. But I am biased. I have purchased a few KNC Neptunes myself.
Storing BTC for long term is also a good option. But you dont need $10 000 for that. Each of your friends can buy and store the BTC by themselves.
I mine and store the mined BTC long term (or reinvest for buying more asic miners). So far its working well, but nobody knows the future. Still I have put most of my coins in buying Neptunes. If you decide to get into mining, you are welcome to use the rebate from my signature.
Mod note: removed affiliate link
Storing BTC for long term is also a good option. But you dont need $10 000 for that. Each of your friends can buy and store the BTC by themselves.
I mine and store the mined BTC long term (or reinvest for buying more asic miners). So far its working well, but nobody knows the future. Still I have put most of my coins in buying Neptunes. If you decide to get into mining, you are welcome to use the rebate from my signature.
Mod note: removed affiliate link
Thanks all for the advice.
It has made us think about a lot. Certainly I have changed my opinion from this thread and reading around.
As with most people on the forum the key driver is to make a bit of money in a relatively short period of time but another big driver is that we are all really interested in the idea of crypto currencies and the nature of how it is supported.
Anyhow we reckon we will do mining with GPU on altcoins, covert some back to $$ to cover costs and hold some in bitcoin.
So off to do more reading on how best to set this up!
Thanks again
It has made us think about a lot. Certainly I have changed my opinion from this thread and reading around.
As with most people on the forum the key driver is to make a bit of money in a relatively short period of time but another big driver is that we are all really interested in the idea of crypto currencies and the nature of how it is supported.
Anyhow we reckon we will do mining with GPU on altcoins, covert some back to $$ to cover costs and hold some in bitcoin.
So off to do more reading on how best to set this up!
Thanks again
video cards require computers to run. With only $10k, you are looking at maybe 10 computers, with about 7 MHs total. That will get you about 0.07 BTC ($30 at today's rate) a day, maybe.
No way you all are going to be happy.
But, you know what? Knock yourselves out, go for it. You get to see who your true friends are. You get to see the good and the bad in your friends, when it comes to money and profit/loss.
KNC miners are sold out which is a good thing for you anyway--there's no way you will break even there. People who pre-ordered are going to lose their shirts.
If I had $10k, I'd buy BTC directly and put it in cold storage, hold for a year or two.
It's your (and your friends') money, do what you will. Buy the video cards and computer equipment; who's going to host them and pay for the massive increase in electricity?
No way you all are going to be happy.
But, you know what? Knock yourselves out, go for it. You get to see who your true friends are. You get to see the good and the bad in your friends, when it comes to money and profit/loss.
KNC miners are sold out which is a good thing for you anyway--there's no way you will break even there. People who pre-ordered are going to lose their shirts.
If I had $10k, I'd buy BTC directly and put it in cold storage, hold for a year or two.
It's your (and your friends') money, do what you will. Buy the video cards and computer equipment; who's going to host them and pay for the massive increase in electricity?
Save your money. Just buy bitcoin.
Look for projects looking for funding that will innovate applications and services on the blockchain
Very interesting
I'd go to Disney World.
Find someone to fund that is a brilliant innovator. Look for projects looking for funding that will innovate applications and services on the blockchain that will provide real utility value on the network, look for the killer apps that will be the Facebook or the instagrams of the blockchain protocol. That is how to truly become wealthy. Bitcoins may or may not last, but the concept of the blockchain / decentralized concensus network is not going anywhere , and there WILL be multibillion dollar companies grown from that technology.
You should hedge your bets.
Half in a GPU mining rig and half into buying BTC. You'd be mining for Middlecoin which automatically converts to BTC.
After mining is unprofitable, you can sell your GPU's at pretty much the same costs you got it at.
If the price of BTC goes above pre Gox levels, boom PROFIT BTCBTCBTC
Half in a GPU mining rig and half into buying BTC. You'd be mining for Middlecoin which automatically converts to BTC.
After mining is unprofitable, you can sell your GPU's at pretty much the same costs you got it at.
If the price of BTC goes above pre Gox levels, boom PROFIT BTCBTCBTC
Hi all:
A group of friends and I have been talking about BTC for a while now and we think we could raise about $10k startup investment and some ongoing running costs.
We've been thinking about mining, like the whole idea of BTC is very interesting and wondered what you would do if you had $10k how you would invest it into mining.
We've been thinking about getting something like the KnC Neptune and going for it.
https://www.kncminer.com/categories/miners
Some of the group think we should start small, build a cheaper rig using 6 x Radeon R9 290X cards. The guys that want to go this route refer the lower initial cost and like the idea that you can use it on other currencies other than bitcoin.
And then the last few guys are also asking why we don't just buy bitcoins and hold them until they appreciate.
Personally I think the gfx route is naturally going to be limited in performance and the power consumption vs performance is going to be poor.
I like the idea of going for a big machine like the KnC but unsure if the hardware will live up to expectations, if not then that's a lot of cash out of the window.
What would you do with this cash?
Happy mining
A group of friends and I have been talking about BTC for a while now and we think we could raise about $10k startup investment and some ongoing running costs.
We've been thinking about mining, like the whole idea of BTC is very interesting and wondered what you would do if you had $10k how you would invest it into mining.
We've been thinking about getting something like the KnC Neptune and going for it.
https://www.kncminer.com/categories/miners
Some of the group think we should start small, build a cheaper rig using 6 x Radeon R9 290X cards. The guys that want to go this route refer the lower initial cost and like the idea that you can use it on other currencies other than bitcoin.
And then the last few guys are also asking why we don't just buy bitcoins and hold them until they appreciate.
Personally I think the gfx route is naturally going to be limited in performance and the power consumption vs performance is going to be poor.
I like the idea of going for a big machine like the KnC but unsure if the hardware will live up to expectations, if not then that's a lot of cash out of the window.
What would you do with this cash?
Happy mining
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