Topic: Which of these Bitcoin investments is more profitable in your opinion? (Read 1160 times)
June 28, 2011, 09:35:01 PM
Right now mining is for professionals miners, avoid it unless you want to go pro.
June 28, 2011, 09:21:21 PM
If you have 2 to 3k then buying the bitcoins low at 16 bux a coin in speculation that the value will rise, and or you can purchase items you need online with them is the best option. Mining in the begining was great, now it takes a pretty nice rig. SO a combo of both options is best. You invest 750 in a nice rig that can mine about 1 bitcoin every day and a half, and take the rest and buy bitcoins at 16 bux each, play the market, and make bitcoins and if it fails sell your rig to recoup some of the loss.
June 28, 2011, 09:02:19 PM
I'll preface this by saying, I'm not planning to do either of these things, I'm just bored and thought a theory discussion might be interesting. I definitely don't have $2k to spare 
So if you had $2k-$2.5k to invest in Bitcoins which would be more profitable?
Option 1:
Use the money to purchase as many Bitcoins as possible. Right now the current price is $16-$17ish per coin, and for discussion sake, we could say you would have up to a month to purchase them, in case you think the price will lower in the short term. The advantage to this technique, in my opinion, is that you would essentially be starting at your initial investment. Of course it's possible the Bit Coin could crash, but we all hope thats very unlikely.
Option 2
Invest the money into buying a solid GPU and attempt to mine Bitcoins. Mining has gotten ever more difficult recently, and unlike option 1, you are "starting behind" in that you would need to earn $2k worth of bitcoins to get back to where you started. At the same time, you are still at the mercy of Bitcoin value.
In my opinon, Option 1 seems to be more profitable today, but I really have no idea where the value of the Bitcoin will be anywhere in future, so I was wondering what everyone else thinks?
So if you had $2k-$2.5k to invest in Bitcoins which would be more profitable?
Option 1:
Use the money to purchase as many Bitcoins as possible. Right now the current price is $16-$17ish per coin, and for discussion sake, we could say you would have up to a month to purchase them, in case you think the price will lower in the short term. The advantage to this technique, in my opinion, is that you would essentially be starting at your initial investment. Of course it's possible the Bit Coin could crash, but we all hope thats very unlikely.
Option 2
Invest the money into buying a solid GPU and attempt to mine Bitcoins. Mining has gotten ever more difficult recently, and unlike option 1, you are "starting behind" in that you would need to earn $2k worth of bitcoins to get back to where you started. At the same time, you are still at the mercy of Bitcoin value.
In my opinon, Option 1 seems to be more profitable today, but I really have no idea where the value of the Bitcoin will be anywhere in future, so I was wondering what everyone else thinks?
Option 1 for sure, and you have a few good exchanges to choose from. Mt. Gox, Bicoin7, and Tradehill, and being involved in each exchange is also a good idea. I don't think the price is going to drop anytime soon, price stabilization has hit, and mining difficulty continues to increase, I'd buy in with as much as you can now, and there are various referral codes to lower your transaction fee prices for Bitcoin7 and Tradehill.
June 28, 2011, 08:57:54 PM
I would do option number 2 because it's a surer bet because even if the bitcoin loses all value the hardware is still worth something at least. You could also mine for the short term and then sell afterwards.
But I'm more into this as a research project than a get rich quick scheme, if your intent is profit there are a better investments.
But I'm more into this as a research project than a get rich quick scheme, if your intent is profit there are a better investments.
June 28, 2011, 05:56:36 PM
i would go with option 1. i am mining on hardware i didn't purchase, but someone who wanted to mine had the cash to build the machines.
June 28, 2011, 05:52:56 PM
Mining for the general person is over imo.
June 28, 2011, 05:39:48 PM
There's no doubt about it, option 1 is cheaper.
Spending $ on full rig hardware today will net you bitcoins at around $30/coin cost, including half price sale of hardware cost.
I would say at any point BTC are trading less then that, they're a bargain.
Spending $ on full rig hardware today will net you bitcoins at around $30/coin cost, including half price sale of hardware cost.
I would say at any point BTC are trading less then that, they're a bargain.
June 28, 2011, 05:38:19 PM
Option 1 is more the way to go - other than mining your own bit coin, you also get a nice rig out of it. In addition you can sell the cards out later and still get money out of it...
Good point, the fact that you will get a good computer out of the deal should be considered in the profitability.
So it sounds like the consensus if that the value of the Bitcoin will rise in the future. Are there any articles someone could link me to that would back up this theory, and possibly include some future price speculation?
June 28, 2011, 05:30:56 PM
Option 1 is more the way to go - other than mining your own bit coin, you also get a nice rig out of it. In addition you can sell the cards out later and still get money out of it...
June 28, 2011, 04:01:45 PM
If i was in your possition i would go with option 1.
June 28, 2011, 03:46:35 PM
I'll preface this by saying, I'm not planning to do either of these things, I'm just bored and thought a theory discussion might be interesting. I definitely don't have $2k to spare
So if you had $2k-$2.5k to invest in Bitcoins which would be more profitable?
Option 1:
Use the money to purchase as many Bitcoins as possible. Right now the current price is $16-$17ish per coin, and for discussion sake, we could say you would have up to a month to purchase them, in case you think the price will lower in the short term. The advantage to this technique, in my opinion, is that you would essentially be starting at your initial investment. Of course it's possible the Bit Coin could crash, but we all hope thats very unlikely.
Option 2
Invest the money into buying a solid GPU and attempt to mine Bitcoins. Mining has gotten ever more difficult recently, and unlike option 1, you are "starting behind" in that you would need to earn $2k worth of bitcoins to get back to where you started. At the same time, you are still at the mercy of Bitcoin value.
In my opinon, Option 1 seems to be more profitable today, but I really have no idea where the value of the Bitcoin will be anywhere in future, so I was wondering what everyone else thinks?
So if you had $2k-$2.5k to invest in Bitcoins which would be more profitable?
Option 1:
Use the money to purchase as many Bitcoins as possible. Right now the current price is $16-$17ish per coin, and for discussion sake, we could say you would have up to a month to purchase them, in case you think the price will lower in the short term. The advantage to this technique, in my opinion, is that you would essentially be starting at your initial investment. Of course it's possible the Bit Coin could crash, but we all hope thats very unlikely.
Option 2
Invest the money into buying a solid GPU and attempt to mine Bitcoins. Mining has gotten ever more difficult recently, and unlike option 1, you are "starting behind" in that you would need to earn $2k worth of bitcoins to get back to where you started. At the same time, you are still at the mercy of Bitcoin value.
In my opinon, Option 1 seems to be more profitable today, but I really have no idea where the value of the Bitcoin will be anywhere in future, so I was wondering what everyone else thinks?
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