|
Title: Why do people suggest investing in Cryptocoins vs Mining For Quick Profit? Post by: PeterRothenberg on August 18, 2017, 01:28:49 AM I don't understand why this is? If I invest 500$ into Crypto, the investment could go up, but it
Could also tank and I could lose all my money. If I invest 500$ into a Mining rig, I can still sell the GPU and recoup a lot of my money back. And with Mining a lot of the time when you mine a certain amount you sell, stopping you from taking insane losses if it all tanks. So why invest vs mine? Title: Re: Why do people suggest investing in Cryptocoins vs Mining For Quick Profit? Post by: bearsworth on August 18, 2017, 01:42:05 AM I don't understand why this is? If I invest 500$ into Crypto, the investment could go up, but it Could also tank and I could lose all my money. If I invest 500$ into a Mining rig, I can still sell the GPU and recoup a lot of my money back. And with Mining a lot of the time when you mine a certain amount you sell, stopping you from taking insane losses if it all tanks. So why invest vs mine? If you GPU mine, sometimes stuff happens. You may have issues you have to fix and you have to make sure they are always up and running. If the coin price goes up, you are still mining coins, while if you had invested, you get more money immediately. There are tradeoffs though. I think mining tends to be less risky because you can always sell your gpus if the coins tank. Title: Re: Why do people suggest investing in Cryptocoins vs Mining For Quick Profit? Post by: joshuajones02 on August 18, 2017, 01:42:46 AM I don't understand why this is? If I invest 500$ into Crypto, the investment could go up, but it Could also tank and I could lose all my money. If I invest 500$ into a Mining rig, I can still sell the GPU and recoup a lot of my money back. And with Mining a lot of the time when you mine a certain amount you sell, stopping you from taking insane losses if it all tanks. So why invest vs mine? 500 dollars won't get you anywhere for a mining rig nowadays. I've spent close to 5k and don't even have an amazing rig but fairly decent. Some would argue in the last few weeks in the bitcoin price surge that if I would have invested the 5k back when it was just 2k i could have doubled my money today. Title: Re: Why do people suggest investing in Cryptocoins vs Mining For Quick Profit? Post by: car1999 on August 18, 2017, 01:50:58 AM if the price of coins crash, everybody in the world will sell GPUs, I don't think you can sell your GPU with good price.
you also have to handle much more things for mining, including warehouse, electric, cooling, mining software... it's a tradeoff. Title: Re: Why do people suggest investing in Cryptocoins vs Mining For Quick Profit? Post by: QuintLeo on August 18, 2017, 01:54:21 AM Because they mistake 20/20 hindsight for certainty.
|