Topic: Yippie!! My First Post... Finally!! (Read 481 times)

Ya....that's kinda what I'm leaning toward.

I think that was the gist of the first reply to my OP.

Like nearly all profitable ventures...getting in early was the key to hitting big with mining!

Better to buy in and sit on it than to mine

It might not even be so risky an investment if it were a PC. But with Avalon (I'm assuming here), it's a specialized machine that's made for doing one thing really well.

If you're a hobbiest or enthusiast, it may be worth your while whether the BTC (or any similar) currency disintigrates or not. At least the enthusiast still has a purpose for such a machine.

For a guy like me though, meh...

Ya...that's pretty amazing.

Of course, I have plenty of reservations about investing so much $$ into a machine like that. Being brand new to this whole economic concept, my knowledge and understanding is nearly nil....BUT....

any claim of future performance is based on a whole lot of speculation. That's true with any form of currency....even the old standard...Gold.

The only basis for any such claim would have to be in consideration of past and current performance of the currency. Right now, all over the world we are seeing how economic systems disintegrate. This current worldwide economic system that's now falling apart (at least the American Dollar), began in 1971 (I think).

Oh crap....there I go again! Apologies....I have a terrible tendency to carry on and on, writing a novel to get my meaning across. Not very good at making a quick point.

The message here is...who's to say that BTC will be worth belly lint in another month? Sure, it looks promising...it's growing at an incredible rate (which will be corrected eventually)...it's gaining popularity world-wide. But, has it even had enough time yet to prove it's solid? I think not....but I'm no economist!

It's just a lot of risk to fork over $5-$7k, for something with so much uncertainty. Would really suck to be holding $7,000 worth of belly lint in 6 months.

Batch 3 Avalon was closer to 7k...but its based on one month to get a return on investment...so still amazing. Thats with them figuring for difficulty of 13million

Hmmm...

Well....I'm guessing that by the time my PC fund grows that large BTC will have either...lost their novelty, gone through a few corrections or be too difficult to mine to even worry about it.

Perhaps I'll just invest into some BTC Wallet snooping equipment instead.  

JK

Probably would be a better investment to just start buying BTC. Damn it all to Hell....always a day late and a Dollar short.  

Oh well...I'm having fun anyway!

Thought i saw somewhere that batch#3 avalon pre-orders were around $5k....i could be wrong tho...

Ya...that's what I'm referring to. I know I said PC, but was meaning that my PC fund would be going toward mining equipment.

Thanks a lot for the advice though.

Like I said, I'm brand spanking new to this and have much to learn, but in the past 2 days since I first heard of BTC ASIC seems to be all I'm hearing about for mining. Looked on Avalon site but couldn't find pricing....just a spot to trade in old equipment. And no one is going to want my equipment, especially considering it was never meant for mining. I built this machine in 2010 for getting into PC gaming...it's now pretty much left to my son. At 41 I'm just not finding video games quite as involving as I did when I was 25. 

Anyway...thanks for the response! Much appreciated.

Well, don't invest in a new PC just for mining. Ain't worth it any more.

Look at investing in ASIC-based miners.  Avalon is actually shipping, Butterfly Labs is promising "soon", and there are a couple others claiming to have products in the works.  If you don't want to wait for ASIC products, then figure out how to buy bitcoins, then either trade bitcoins directly, or invest in some bitcoin-based stocks/securities, or shares in ASICMiner (a mining bond of some sort)

Good luck.

AH!!!!

FINALLY!

I thought I would never figure out how to make a new post or reply. I've been looking everywhere on this forum for the "Post New" buttons..well...evidently not here.

Anyway, I'm brand new to the pool and brand new to BTC altogether. In fact, this week is the first I've ever heard of them...better late than never, I suppose. Of course (at least in this case) there seems to be some amount of reward for having gotten in early.

So, I heard about Bitcoins on Wednesday night and by Thursday morning I had 1 miner set up. My next PC investment will definitely be for better mining equipment. I'm pretty lost right now (actually, I'm totally lost) so not sure where to invest money for mining, but I'm a pretty quick study...I'll get it all figured out soon enough.

Anyway, I have lots of questions...hopefully will get some answers here. Seems like I'm always showing up late to the party and the beer's all gone. 

Gonna go post my first question now so I can get these first 5 posts out of the way and gain a little freedom. We all remember freedom don't we? It seems like a faded memory nowadays...like maybe it was a dream we all had years ago. 

Oh well, I'm rambling...someone please watch my next question and see if you can help me out.