Bitcoin Forum

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
:)

Friendly advise.
Never go full retard.
which means- never invest everything you have.

Eth mining currently has a long ROI. bitcoin mining- S9 costs around 1500 usd from the manufacturer. also dont forget to factor in your power costs..

I strongly advise not to go "all in"

if you can comfortably afforded one miner for one coin, and have some left over as long as you have cheep power and reliable internet, then maybe consider it.

other than that I could not offer better advice than buy some btc and sit on it! no running costs and if you can sit out the roller coaster of a price ride, it will eventually pay off.

everyone will tell you dont go "all in" even if you have cheap power and all the other variables stay the same your looking at a 4 years to cut even, but lets say the market becomes a huge down turn, you will never see a break even point.

What the hell have you been researching if you do not have the answer to these basic questions?

If you are seriously suggesting you will invest everything, maybe you continue your research

Investing is not for you. But just buy a coin with 30% of your total money ( privacy coin, ltc, btc when if corrects)and wait 3yr. Not sexy but atleast u wont go broke. And u will make some money maybe even rich if u pick the right coin.

Good luck

This....

I found this hilarious when your signature says 'go big or go home'.

But yea man, in my opinion, mining has never let me down, but you have to BE SMART about it. Don't get crazy at first, grow over time, buy and sell coins too with the coins you mine, make more. Be Smart.

"Go big or go home.." does not mean act stupid.  :D

If you have $20K to your name, don't risk it all.
But If you have $200K, it makes sense to risk $150K of it as you still have 25% left in case you go belly up.

Where are you located? If your in Canada I can provide personal assistance. I have helped many get started, within a safe budget of course.

If you are really serious to risks your life savings then start a business that can give you continous earnings on regular basis that will take you on long term. Earned and saved money to the point that you have an extra ammos for misc things.

Consider entering mining world once you are sure now that even you will loss on mining, you still have other sources. It's a bit of a suicide if you will invest your savings to the things you are dumb about.

Why not do more research into stocks and put your money into there? If I was working with my life savings, I would want to put my money into a system with less volatility. Bitcoin and altcoins are fairly volatile; they're not a game to be playing around with when you put the upwards of your life savings into. If you do some good research into stocks, you might be able to make a safer long term profit.

Invest only you can afford to lose because many people want to mine are failed because we don't know how mining will run .
Make a research what miner is good for ethereum and bitcoin because I cant start mining when Started in bitcoin world.

investing equally by giving up what we have,
we should not be willing to make an investment if we can not let the money disappear.
because investment is the same as gambling.
if we do not choose wrong profits will be ours
but this could be otherwise

Ditto.

There was just a thread by some dude who stated that he was contemplating ending his life over a scam transaction that was less than a whole BTC.  And the first thing I thought was that this lying, attention-seeking cretin had invested way more money than he should have.  Anyone giving financial advice would tell you that if you don't have any savings and/or are living paycheck to paycheck, you shouldn't be making investments.  Especially not in something as volatile as bitcoin, because you'll be vomiting if the market crashes 50% or more in a single day.  Sane people wouldn't be able to handle that. 

So either start small or wait until you have about 6 months' living expenses saved up before investing in crypto.  Definitely don't go all-in.  That would be bad for anyone, even people with significant sums of money.  Yes, a lot of people have made money in the past 8 years with bitcoin, but there are no guarantees.

Hi TS, I think you should go around the forum first and read from the popular topics about mining and trading as cryptocurrency is too complex, many ways to earm and many ways to lose. For me it is very risky to put all your hard earned money in one basket. In investing, you should always keep in mind that you only invest what you can afford to lose. I personally believe that gpu mining has the least chance of losing all your investment as long as you bought the right hardware, like gpu for instance because you can always sell them as a secondhand item if ever you want to quit mining. Crypto currency is volatile, 1 day it is up 10% the next day its 30% down. Research on what field you want to try and set the price you can afford to lose.Best of luck.

Mining with bitcoin hardware has gone farthest from profiting, however ethereum mining is still somewhat profitable.
Before buying gpu rigs for ethereum and altcoin mining process, you should know if it id worth investing for you by comparing charges like electricity, hardware price etc.
Some countries have to pay high electricity fee and later it come to know that Roi is worthless.

If you want to invest your life savings dont loose it all invest what you can afford to loose,or maybe you can start a business atleast its risky in loosing all your money.Remember that having a saving with all your life is not easy you need to work hard to save the money you have now.

Investimg all your life savings is not really a good idea, because it will take sometimes for your investment to multiply and if things go wrong, you will definitely not anything to fall back on, and that's messy. Try to compare the costs of rigs, hardware and electricity and also other overhead costs.

I give you advice that you are using your life time saving, that's why i feel afraid for you, because it is your life time hardworking earning, so better for you, use your little money in bitcoin and if you see that you are able and have skills to earn from bitcoin, then invest your more money in it. Actually, i want to say that not every one could handle bitcoin easily, that's why if you are first time doing investment in bitcoin then don't invest your all life time saving. But you choose a right way to invest your money in bitcoin, now it is depend on you. 

The important matter should be your life and taking that high risk for a 50/50 decision is not suicidal but stupidity. In due time researching a poison in Internet is much easier than mining a cryptocurrency because it is. Most have tried and lot of them succeed not alone but corporate. This is the best and wisest thing to do make a group who have the same aggressive towards mining that you do. In that way you can sleep at night after a failure and if you succeed you know how to do it on your own now.

My advice to you is do not invest all your savings just get some portion of your savings for investment and continue keeping your savings safe in where you keep.

Any method of investing online is very risky almost 70% are scam and 30% are legit or simple much high percentage of loosing your capital than gaining specially here in crypto currency world they used bitcoin and other coin to achieved their target amount to scam.

Also some of the method is based on the luck of users like gambling, mining and etc. Some of miners are not lucky to get income because of luck of knowledge in that field. That is why if you can keep your money safe just do it.

Absolutely right decision. I think also buying and holding coin is more profitable who has not enough experience on mining and trading. I believe that, holding is one kind of investment. But choosing coin is more important and it is good decision that not to invest all your capital in one place.

Choosing to invest at those top coin is much better but if he knows how to trade with some current blasted alts then he might gonna earn huge with that. But he shouldn't invest his life savings for just particular things since he might gonna lose all his money if he put it on unclear invesment things. And he should remember that theirs no easy way upon investing on online matters and he should think twice or better more so that he wouldn't be broke if things will not work on his side.

If you have the guts then simply store your life savings to a cold bitcoin wallet. You could go back to that then after years. I guess that is the safest way to invedt your money rather than entering into a more risky type of scheme in this industry which is obviously almost all of it(if it is not a scam site on the other hand it is paying too low)

I suggest you to mine monero which has great potential in the future and it also give good earnings,investing on ethereum and bitcoin mining is not profitable because these mining difficulty level is very hard than mining monero coin.The best hardware to mine monero is AMD gpu maybe you can setup a rig for around $ 2000.It will give monthly profit around $300 maybe you can earn more if your country has cheap electricity.

I would invest in networking now and then in something you'll find from networking... I'm going for this purpose to the BlockShow conference at the end of November in Singapore.

In my opinion, Crypto investment is sort of too volatile for that kind of money. I would suggest you to diversify, 40% property, 50% Gold, 10% crypto. once you do well with crypto then later you can readjust accordingly. Never put all eggs in 1 basket. Buy low sell high. Don't go panicking with fear and greed attitude. stay cool. I am newbie too but I have made quite good progress/profits.

I think it would be more profitable for you to buy directly bitcoin or other solid coin like STRATIS which has a great growth potential. Mining is profitable as well but it takes more work,maintenance and costs.

Seriously, put life saving to mine bitcoin... ??? Are you sure? You don't know what you're doing do you?

By now i think you got that needed advice you wanted that don't spend all of your savings . But seriously man you are planning to do mining and you did'nt even study about its technicalities and the required hardware. Still if you want to know about the good hardware you could have a idea by reading it here https://www.buybitcoinworldwide.com/mining/hardware/

Go big or go home! As hilarious as it may sounds, there is just a lot right about it and at the same time, you still have to be smart not to go all in, which is totally different from going big anyway. One thing with mining is that one should never expect too much from the start and as time goes on, you keep growing.

It is an investment that pays once you know how to go about it and you have done all your necessary research which obviously the OP has not done yet. Everything about investment involves being smart as that is the only way you can earn big.

A piece of advise men, dont put all your eggs in one basket. you can try to invest in different coins. learn Trading. :)

My friendly advise, stay away from mining specially bitcoin because its no longer profitable in the long run. Why not just invest your money into something? Or better just buy bitcoin and ethereum hold it for longer term. And its better just to buy it because the profit will be there specially holding it like 2-3 years.

If I am in your place I will not take risk. There is simple way to get best returns. The best way is buy bitcoin for the 50% of money which I have and rest I will keep it for backup if anything goes wrong or a big dip come it will be help to accumulate more as bitcoin has a very big potential to grow.

You are aware that ETH is changing to proof of stake soon. Right? So you would be wasting your money by buying hardware to mine ether. As for mining bitcoin, I would say go for it if you live in a cheap electricity country. If not, then its not... Unless you will have a mining farm.

Instead of going all in for mining, consider buying and holding some coins for long term. What you needed is diversification of funds.

Going all in would be the first mistake any investor would make and you should have at least some little amount down as an extra savings in case the unspeakable happens. Sure, mining is something you can really go into which can help you earn something good, but you have to consider the cost of electricity in your country as well to know if it is going to be feasible or not.

That's a risky one if you'll invest your life long savings for mining rig. First if I were you, you don't have to do that with mining. Hashrates are changing from time to time and you can't guarantee that after you buy those mining rigs that suits for ETH mining will be reliable. Since it is your savings, you can just go with buying and holding this is no worries at all. You don't have to put all in if you don't know much.

buying coins and hodling them still counts as investment indeed, but this isn't bad idea at all, it is quite risky to invest everything that he has as coins market is very unstable... He would get huge profit in few years even if he invests only 10% of his savings.

As i know you need to invest about $2500 for a hardware which can mining ethereum and you also need 8 months to payback. i advice you should use your money investing to Ethereum, i think the price of ethereum will reach $1000 in 2018

Honestly, the OP should have done a lot of research himself before even thinking about going ahead. I cannot expect someone to really want to go into mining and with all the resources on the net still does not know what to mine or which gadget to mine with or the cost.

It is still better he hit the books first to really know what would pay him and all the factors he will need to consider first before even venturing into mining and electricity is one important thing.

Well , some great person once told me  , if it takes you 6 hours to cut a tree then rather than wasting 6 hrs  use 5 hrs to make your weapon strong enough to easily cut that tree in one slice.

This in your case means instead you investing on cheap things and getting less profit , go big and make huge profits. Well it's pretty sure that all your investments will be recovered soon and then all the rest that you earn will actually count in your profit thereafter.

I think you should take your time and think about what you are going to do. It is clear that you are new to mining and don't have enough experience.

At least don't invest all your money, you can start with a small amount and if every thing goes well you can invest more.
I hope we will hear good news about your mining experience in the near future.

Don't just invest in mining, invest also in cryptocurrencies that you can buy in marketplace and hold it for long term. i don't know about mining but i suggest try to trade in any altcoins it's very profitable..

Investing the life savings for a bigger profiting is possible, but for the same need to go through the entire market and find the right asset for the long term holding. Bitcoin has already provided with the profiting for majority of the users who has invested into it, but we doesn't get the opportunity to invest big as the price has grown much higher. Its good to find an alternate asset for investment.

I don’t even support him in the idea of mining Ethereum, he would be taking risk by doing that… though I haven’t done it. For mining bitcoin, man, this is really crazy, the worst part is that he’s got a life saving to invest into this– well, he can go for Bitcoin Mining, it’s quite good, but I don’t know if much profit will come from it especially when your country's electricity is costly.

I believe there are also other things to invest on, it’s not a must he will invest on Bitcoin. Or maybe he can wait for the price of Bitcoin to fall and then invest the money, I know someone who did such with a borrowed  money and earned about $300,000 as profit.

First only small amount max 30%

bitcoin is better for short time or if you lucky take risk and invest it in very long time .

ETH is stable and good

Invest here in bitcoin but not all of your money.I always do investing here everytime I earn in some faucets,i always investing little by little because it so risky and it's all I have to afford to lose in trading.I believe in the future even invest a little here is big in the future and I have positive thinking about my investing because see the price of bitcoin now it's so high now since 2010 history here in forum and it's 20x now

LOL. Come on bro! Let me ask you one thing. If you had gone all in back in 2010, would you have been putting on that Fundcru signature you are wearing right now ?

I absolutely bet my last card that you wouldn't. Everyone knows the level of risk they can take and life sure is all about risk.

I totally understand that going all in is a very risky move to make as that tends to be centered on greed which can make one lose all, which is better to set some money aside, no matter how little, just in case the unspeakable happens. But really, sometimes, I normally wish I had gone all into bitcoin back in 2010 when I got to know about Bitcoin.

Don't get in if you will be left with nothing. I know investing is needed but to the extent that you will be out of savings. You have to secure yourself and don't forget that investment is not what we all need. There might be some other things that you can fill with that money. But if you had decided and very serious about it, I can't do anything with it. That's your money and your decision.

I suggest you think more than twice before investing your savings, there is a reason it is called life savings, you save them to save your life, it is used in times of emergency, in times of need if you do not have it as a back up, you can never have a fulfilling investment, you will always be weary. When it come to investments, make sure what you use are the extra cash that you have, since Bitcoin is volatile, once the price drops and you need cash, it will be an entire loss for you, make an educated decision first before you go to any investments, since everything is always risky, even saving.

Hey ctuka, referral links are not allowed in the forum.

As for OP, as long as you will be profitable in mining then just invest a portion of your savings not all of your savings because we still don't know the future. Though it is looking bright right now, there may be some circumstances that might change that. There are many investment option as well like investing in stocks or in ICOs or you may want to start a traditional business. As long as you diversify your investments and spread the risk then you can do whatever is comfortable for you. Just don't invest in HYIP sites because you might lose your life savings sooner.

First you don't know anything about how is the mining works, you better learn it first before buy the mining tools/hardware. If you still not sure don't spend all your life savings into it. If I were you, I prefer invest my life savings into a good ICO that have a good future. It's more worth it.

It looks serious, they are right never invest all you have, earning through mining is good but you need a lot of money for that as well as skills.
I guess you should study first mining and put your life savings to bitcoin, bitcoin is a good investment.

It's great that you are discussing with us before making a decision! My advice for you.
Never keep in your all eggs only a pot.  We know that electric machinery do not have any guarantee! Even We can not guarantee our life! so, do not invest your all things in only one place. Always remember that "There will be profits / losses in the business.
Thank you!

I think you should buy coins instead of machinery.

Life Savings. Hmm. This is serious stuff.

1. You should learn about different investment instruments available to you.
2. You should evaluate your own risk profile.
3. You should approach a investment specialist/portfolio manager
4. Don't invest in the same category of investments, spread it out, if you are investing in the same type of investment instruments. diversify within it.

You should know what you are getting yourself into, this is your money, and you just can't follow the hype, be it crypto or equity. Once you think you know what you have available at your disposal, talk to people, your friends, co workers etc. It's highly likely that they have invested in at least one type of instrument. I've been in situations where I've flown completely blind into discussions about investments. It's always good to know stuff, you can ask real questions. There are two main types of investments, fixed income and equity.  
Evaluate your own risk profile. This might be a touch hard for you, but sit down and think to yourself are you a risk taker, or a risk averse investor. Do you want to take more risks with higher rewards, do you want to take medium risks with lower rewards, or do you just want to sit back and invest in very low risk investments.
Do talk to an investment specialist, they want your money, yes, but they do know their investments. This is where your knowledge about different investment instruments would be valuable to you.
Don't put all your money in the same basket. Spread it out.  Come up with a portfolio, for example 60% in fixed income, 20% equities, 10% Government securities, 10% Crypto. Stick to it. See how you fare. Good luck.
  

actually you only need to buy new computer with good specification like asrock btc mobo, 4-8 gb of ram, ssd hard drive or physic hardware and I think 1 terabyte is enough, vga card like r9 or high-end vga, pure power supply 1000watt. but unfortunately I don't know how much the price and I think you can visit amazon or ebay to see the price. the important thing vga card hardware you need to buy is the high end hardware because with this hardware you can expecting to mining a lot of coins although to mining bitcoin is really difficult. or if you don't want to get trouble, you only need to buy hardware like D3 or L3 and then you need to connect the hardware with your pc and then the hardware will work by itself.

The specification you mentioned is enough to purchase the antminer series hardware so you can directly have the ASIC miners to start the mining earning in the bitcoin platform. There are many videos also available in the Youtube about ASIC mining process that will be enough to learn the mining as well.

L3+ and antminer s9 are the best miners being used in the many mining farm. You will be able to get the 500 USD atleast with these single rig. If you able to afford for multiple hardwares you please purchase the multiple cards.

I will suggest you not to invest all your savings in bitcoin because the price of bitcoin is so volatile and it may dropped to the lowest level and you may lose your investment. Invest some of your savings and keep the rest in your bank accounts for day to day life expenditures so you will be mentally relaxed and when the price grow more and more you can also invest your earnings in bitcoin to increase your profit ratio.

Most people who started out mining and failed are those who really did not do some feasibility studies before venturing into mining. Mining is not for everyone and as much as it pays some people, it does not pay some.

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

I failed mining  because of those cloud mining. But if would really invest your own tech to mine, their is a high chance that you would actually get profit than mining or any other investments in the market. You just have find the good coins and the right tech for each of them.

Nearly everything that people do is based on greed. Important factor is the massive growth of this year, and that's something they try to recreate even at this point.

In order to compensate for not having invested sooner, they will go all in to book larger gains, or at least, that's what they are hoping for. It's basically similar to what happens when people lose with gambling

In order to win back what they lost (in this case earn profits that they missed out on), they go big and bet their entire capital/savings on a potentially good outcome. These people are mentally unstable, and a danger to themselves.

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

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right now ETH mining is not profitable (from the time f ROI and the power consumption) my advice is if you want to miningin cryptocurrencies try to mining monero its a good one and have a shorter ROI than ETHEREUM

You really have a lot of point there and most especially trying to invest in some coins that are so undervalued right now with some huge potential to give something big in the long run. It is not all about going all in.

The truth is that for someone who could have just put about 200USD into Ethereum early this year, would have been worth about $9000 just before the end of this year already. It is about being smart and trying as much as possible to diversify into some good projects.

When it comes to altcoins, things don't only depend on being smart, but also the willingness to take that extra bit of risk. It's no secret that the far majority of the altcoins are blatant copy and paste coins adding absolutely nothing. How do you expect people to diversify in 'good' projects while 95% of the market is filled with these garbage scam coins just thriving on pump and dumps to gain attention. There are just a very few coins that actually solve a problem and at the same time worthy of investing in with a long term perspective.

I think it is better for you to just invest your money in bitcoin especially while it is still in a dip this is a good opportunity to buy cheaper bitcoins. If you have 1500 usd then buy bitcoin worth with that then you can just sit back and relax while btc price go up. Where in mining there is a lot of cost like maintenance fee, electricity fee and also your internet bill, mining is really costly.

it looks like you're just about to start a mine now instead of wanting to get a considerable profit by buying some hardware for a mine. but if I can advise you if you do not learn it first because I think that what you say seems to be you are about to start this activity so think before you start the activity because it really needs a good experience. I think what you should do right now is investing in bitcoins because I do not think it costs too much as you would buy a tool for mining.

But he choose a right way, now to see the bitcoin price it is continuously go to high. So if he will use his money in bitcoin then i am 100% believe on it that bitcoin never let him down. Although i agree with you, firstly he should use his limited amount in bitcoin and then if he is fully agree on it then sure use his all money on bitcoin.

Cloud mining is not even the in thing right now and despite all the screams of those who already have the experience for newbies not to go into cloud mining, I still find it amusing that some people really still do anyway.

It is even funnier when you find out that you can make a lot from using that same money to buy the hardware and mine yourself. As long as you are not in control of your investment, it is better to just stay away.

There are a lot of crypto to invest with but I think most will agree not to put all your money in one basket. If this is your life saving, then just put it on your live savings account and just invest some money you can afford to lose in crypto after all you are just new and you may have not learned all yet. I'm sure you have already heard of some scams here and regarding ICOs.

Bitcoin is quite expensive, so maybe you might try other coins which are cheaper yet already are reputable and have proven track.

Diversify your investments in bitcoin and other altcoins like eth, monero or ripple as it will be very risky to invest your money at a single place and when it comes to an investment its not limited only to online world there are many good options in real life too like gold, real estate, stocks etc so you should consider those options too for making an investments.

There are so many alts that are undervalued right now and only if people can do some research to find them. Waves is one of them and in a short while I won’t be surprised if it ends up having the same boost Ethereum had this year in coming years. Not just waves, there are so many alts and even upcoming ICOs and it is all about being smart.

Like someone rightly tells me, you do not have to work hard; you just have to work smart. I would not consider investing life savings into being smart though as you also have to consider all the risks involved.

I think to devide the investment is the best advice anyone can give, I’m a bitcoin users and altcoin believers at the same time. We know how hard to earn bitcoin and the price is so highly to buy some but altcoin is much cheaper and much easier to earn if giving some effort to do so. Take this advice as a reminder that open your mind in every option that is available and don’t look for one but all profitable coins.

I would have to agree its not just those huge altcoins that has the potential, you gotta have the time to research each of them. If you can pick the ones with better project and team, you can exponentially profit than you thought. If I have the money, I probably would buy the cheapest ones but have the best technology. Some of them might just be ADA which I already have some, IOTA and EIDOO a good wallet with their exchange.

Buying hardware will do a better work than trying to spend so much getting a PC with a very high configuration. That would be a whole waste of time at the end which would be regretted. Mining these days requires a lot of things to consider, and the most important is the rate of electricity where you are.

Once all this can make mining feasible, then choosing the right hardware for the coin you want to mine is just the best and that can be done from research.

NO NO a big no. I have been in cryptos from quite some time and all what I have realized so far is that don't put that much in crypto what you can't afford to lose. Whatever we say about crypto they are still full of loopholes and problems. Not free from scams and hacking. There are several other risks too. You can surely buy hardware to mine Ether and bitcoin but don't just blindly spend away all your life savings.

I don't think anybody in this forum will advice you put all your lifetime saving on the stake to something which is decentralized and not even legally approved. Still if you want to try your luck and can bear so much risk, i suggest you go for trading.
Mining need some technical skills and have 1 time investment on stake where as trading is comparatively a safe option you can enter with a small amount too and can exit any time you want.

I can't give you advice on what to invest and if you are looking to invest your life saving I will suggest to start reading and get a better understanding on crypto world. Is not wise to take your saving and ask someone what to do with them....

Another advice will be to not put all your money in one investment, especially on trading. This is called money management and you must find a comfortable ration.

But as mentioned before you do anything start to read un get a better understanding about this.

I really hope you are either not serious or you are very very young. Mining is rarely profitable... sometimes you may have a good day (Thank you electroneum for that first night) but normally not.

maybe OP has big capital having hes Life savings so we can consider
 that he can afford having couple of miner,but for me dont just go full in miner
 maybe OP can make some investments and i prefer he could learn trading even
 starting small capital i to it.

But always remember JUST INVEST WHAT YOU CAN AFFORD TO LOSE

Maybe this post should be moved to mining hardware discussion thread if OP is looking for best mining hardwares, there you can ask elite and professional persona but always discern who is reliable.

You really do prefer to mine? I suggest you make it all in of your life savings converting it to btc and then do HODL this is the best way to invest as of now.

I think it is not a good idea to to start bitcoin mining because the mining difficult rate keeps increasing so in future you may get very very less award so it is better to buy some altcoins with your savings and hold it for some years then it will surely give good profits.
You also has another option like trading but it needs trading skills to get successful or you may lose your investments,so I suggest you to buy bitcoins for all the savings money and try to do trading with small amount of your holdings,if the trading is going okay for your just continue with it.

Rather than mining, I think it is best to buy Bitcoin since once we have Bitcoin and the price started to uptrend just what happened in the recent days, we can easily see the profit. Unlike in mining, we have to buy equipments and wait for it to ROI and  after getting the ROI that is when we can count our profit.  It will takes longer in mining than buying BTC or ETH.  Anyway, either of the two can do depends on how you see the market.

I would stay away from mining because it has become real-real hard nowadays, consider investing funds to bitcoin or top altcoins, there are lots of promising projects at the market right now.

And don't forget to save a bit once you get an income, you always need something left to live on.

This is really a good advice. The truth is no one can make the decision for OP and absolutely what everyone would tell the OP here is not to act insane and be realistic as you have to also consider the risks. However, everything about life is risky and as long as OP understands that and he is ready to face the consequences, then it is his call.

I remember the way people blasted Taihuttu when he sold all his stuffs and started trading when the value was around $5000, but now, I believe he should be smiling and must have gotten back all he put in both from trading as well as the increase in value. That is just life anyway!

The price of BTC today is an absurd thing. Not only in China, we can do a quantitative analysis of data for many countries and what a monthly gain of workers for a year, certainly tens if not thousands of those countries that have been surveyed will point the annual gain lower than the value of the BTC today .

If a person is aware of the functionality to do business with the currency, it can make a lot of money and break this wage paradox.

Look spend everything you have on something you have not yet mastered 100% and a very dangerous thing, this is usually done by desperate people. But if you want to take this risk I would point you to the new s9, if you find it for good value you can make lots of money with it.

Unlike the S8 it consumes much less energy and the gains are much better than its previous models. Today she must be going from about 1000 dollars to about 3000 thousand dollars, try to buy her within that margin so she does not lose.

IOTA has really been a coin I have always looked forward to it getting huge in the future and so far it has really blown far beyond what I have been expecting and it is still growing. That is one way to invest into a coin with prospect and hope for the best.

Not all coin will survive but there are just some coins that you should not just miss investing in them for the long run. I am having a really good time with IOTA now, after taking the opportunity to buy so much at the dip.

You yourself told that it is your life saving and you want to invest. As you are a Newbie still need some time in this forum to understand what is cryptocurreny and its importance and what is the role of Bitcoin in this world and what are the benefits you will get. After that my suggestion is invest in Bitcoin 50% only and hold for few months and understand the benefits practically and if any correction took place in bitcoin you buy more with the rest of saved amount so that you should be 100% secure your investment.

If you see the track record of bitcoin performance the rate is proven that all time favourate investment for best returns is bitcoin it is practically proven and thus the bitcoin rate is booming day by day.

Diversifying is really good and with that at least, you can get some good amount in value later on if you are at least saving for the long run. All the above, I won’t suggest going all in as the OP wants to do. That is a whole lot of risk to swallow at once. We may be optimistic now with the crypto world booming, but anything can happen and unless OP understands that risk and is willing to go ahead all the same, then that would be his own call.

One more thing, consider everything you read here as recommendations, not advice you have to follow. Remember, you'll bear the full responsibility.
Waves and Ethereum are two coin I think have grer potential in 2018.

don't go all in.  It may make you some profit at first, but the market may have a major fall and you'll be left with pennies.

I do understand your eagerness to throw everything you have into investing believing that you will get a big profit in return.  Everybody says that there is a risk in everything,  and so with this.  You are saying it is your life savings,  so I think it is best to invest only atleast half of what you have and then wait for it to gow,  surely you will get good income which  can be added to your capital.  But still you are on safe side,  having left some savings for other important things for your self and family.

Mining is really good when you understand how you can set up a good rig and what to mine. Once you are able to get back your return on investment, then the rest is just plain profit for as long as you want to keep mining. However, I have always personally have a thing for trading right from the start and luckily, bitcoin gave me the chance to make the best out of crypto trading which can be more profitable than mining if you are good at what you do.

Hello,

I will advise you to never invest something you are not ready to loose.

Try with some smaller budget, learn from mistakes and then invest something more.

Investing life saving sounds pretty risky and dramatic to me :)

I was thought this by my professors that always first save and then invest only in such things which you understand. Also ensure that you divide and invest in several things and not in one thing. Though at present investing in btc is very lucrative but going by the principles it is important to only invest a certain % in cypto currency.

So true because some beginners want a sure and big profit so they tend to invest big without thinking that they might also loss big. Starting with small then just add little by little until you fully manage what you're doing. Using your life saving isn't a wise move and just use your extra money for investing.

I would say that it would be better for you to buy bitcoins with half of your investment and remaining amount in mining.First ensure that cheap electricity is available in your area for more profits.Ethereum could be mined with even GPU systems.You should buy ASIC miners for mining bitcoins as its not as easy as before now.China is the leading manufacturer of ASIC miners at low price.Bitmain is the leading manufacturer there.By this way,you cold enjoy income from both holding and mining bitcoins.

No mining is pretty technical for him right now. Later he will learn that. Youve better buy the top cryptocurrencies and hold it for a long term. I can assure you that it is a pretty good investment.

Never forget to invest also in real world properties because mostly real states are the physical things that you can use in everyday life.

Business is a pretty good choice and learn how to trade and Mine if you have poaitive cash flows. There are so many investments nowadays. If I have a life saving I will go full all in at BTC at the moment.

Invest here in bitcoin is good but why life savings?,i think don't invest like that because life is important than anything in the world so you need to risk here in crypto but not risk your life.Try to invest only just a little like 0.005 btc because when i start here i only invest like this and i already earn in that even it just a little,It's only $25 so life is not needed here in crypto to earn money and for secure and assurance of your life,i think also try some faucets here first then invest your earnings there for not taking risk here to earn or try also to invest in gambling site or try to read a lot of airdrop and join in that for free coin

I think you shouldn't invest all your life saving in mining cause at the moment it's really hard to earn good profit everyday by mining cause the mining difficulty of both ETH and BTC are really high at the moment and they'll keep increasing day by day so invest in mining is not a good idea. Maybe you should take a look at invest in BTC or ETH only, spend a little of your life saving money to buy some ETH or BTC and you just need to hold it for years or few months if you want :D

I'm not sure why everyone is saying don't mine, cause even if everything goes wrong u can still sell your cards and get back 60%~ of money. I would strongly advice you to invest into mining, you dont have to mine ETH or BTC, you can mine ZEC aswell, or like 1 week ago electroneum was super good to mine. There is always going to be something to mine and once u get ur ROI, after that its all profit. Personally I like mining more cause it's safer, again its my personal preference. Good luck !

For me on my own i think much better to invest you a bitcoin because it could be triple you get..and have more income to come than to save your money in bank ..

Invest in crypto,

I would say you should never invest all your saving in something that could be perceived as gambling (in the sense you never know what could happen in the future with cryptocurrencies)...

I totally agree, do not ever invest more than you can lose, or you will end up in poor house, these kind of people who invest with no caution end up in poor house

I think it is not safe thing to do if you will go all in. Try to invest the half of your savings and not all. Let your investment grow with only half of your life saving.

To me investing all your life saving into crypto currency is greedy act and it not good to have all your eggs in a basket. Meanwhile, the best bitcoin mining hardware are AntMiner S9, HashFast Sierra Evo 3,  KnC Neptune and TerraHash DX Large (full). While, the most powerful/best Ethereum mining hardware is Radeon R9 295X2.

mining need prefers knowledge and more than 5,000$ to start investment also need to have extra money for bills.

it is risky for both only invest 30% of total in ether

I would suggest , dont go for mining  . by the time you reach breakeven point . The mining difficulty goes up leaves you very little profit for the effort .


The best idea is to buy ETH or BTC and hold it for an year :)

Mining is still profitable, but don't choose to mine BTC or any coins that has very high difficulty. For now, I think a good idea is to buy coins and hold it for a while until it had grown enough.

You are investing in trading or in holding bitcoin? If you want to trade then you should learn all the necessary things about trading and if you want to buy some bitcoin then nothing to understand. Just buy bitcoins, hold them for some time and when the price grow more and more you will earn  a lot of money. This is the whole story. But remember one thing that you should dare to invest your life savings may you lose your money.

I dont suggest risking your savings into crypto currency even if there are people who find it very successful. Holding bitcoin right now for me is really not recommended because the price is too high  for stability. If this price drops and bitcoin price become more stable then you will surely loss a lot from your investment

Why not to risk? Who ever started to mine long time ago earned a lot by now, and when btc mining is difficult skip to eth, after that you go to next mining alt. You can make a lot of money and you need to upgrade your equipment with money youbearn, not just to spend it on fun.
I'm for risking, and investing in mining equipment is great choice, just be careful to have enough for good machine, that can be used later for mining some other coin, or more upgraded for more. Its better to start to mining if you have money for that, then to risk money on trading.

Friends Big investment and Big Risk With Big Profit.
Small investment and Less Risk With Less Profit.
Now Decision is yours..
But always have some backup because nobody knows about future .
so always to be safe side.

If you want to invest in Bitcoin or Ethereum, why don't you just buy Bitcoin directly instead of buying a mining equipment? That would be a lot easier and hassle-free. But then again, it might not be a good idea to invest your life savings into something extremely volatile and speculative like cryptocurrency. Don't touch your life savings for something speculative. Instead, earn some money, save it and invest them in crypto.

I am also interested in mining before but somewhat I changed my mind. if you really want to invest, you can try into trading and also in investing in the ICO. 

To my mind mining is not good for individual investment anymore, giant pools and farms make sense but not individual. Blockchain infrastructure investment looks much more valuable to invest in through ICO's or public trade purchasing of their tokens and 1-3 years hold.

are you serious? investing all-in is not a good idea. There is too much risl involve in crypto currencies. Think many times before making a decision. Just only invest what you can afford to lose, just a piece of advice.

Mining is not easy to start. First you know the mining process. Then start. If need to start mining check the cart ram. Ram is important for the mining run. Check the bored to connect the mining cared and it need to more power to work. Then connect the network. It need to cooling place. Check the ruing process. But software is important to start the mining. pooling mining ,bitcoin mining ect.. So check the best software then link with the mining rig. Then start.   

Absolutely, I am also amazed about his decision, because he is taking a risk with his whole life saving and don't know about too much bitcoin or Eth mining, and now bitcoin is continuously going to down, Actually the reason behind of bitcoin downing is Cartel. Within few days, we will see bitcoin more down and i am not sure again bitcoin will achieve its old place of $20000. Although i am still holding my bitcoins for a hope and i also know that the time will come but wait for a time.

Investing is a very risky thing, so choosing the right project is necessary.
Just remeber, if you want to invest, dont put your eggs in the same basket. Try to be wise, learn from your mistakes and try to be patient all the time.
Be optimistic, always think positive and take every chances you got.

Most of us, it seems, want to know. We want to know where we’ll live, what our next career will look like, and how it will all go up and down. Well in crypto community, we never know what happen next minutes, hours or days. That's why we create a thread to exchange different comment by experience and many more. Don't put all you savings in crypto currency if you are not capable in losing some, the risky part is always there specially if you invest in a wrong token or wrong time. The uncertainty is usual problem in investment, but sometimes, you need to take some risk to be successful someday. As a trader, this is the best time since the bitcoin and altcoins has a low value.

Hi all,

What do think about Welltrado (welltrado.io)? ::)
I saw Celcius network already raised 30M usd, do you think Welltrado could raise more?
I would like to invest in this ICO, but I'd like to hear your opinion.

Cheers ;)

Mining like every other business comes with undeniable risks. I'm wondering if your research was wholistic at all if you were unable to at least know the cost/benefit analysis. If you have been successful in this earlier with modest investment I would have advised you to reinvest part of your lifetime earnings and do it full time for a couple of years. However, with your admittedly lackluster approach to research, it'd be safer to invest part of your earnings and another part in further research. Honestly, you have to get the rudimentary knowledge and not wishful thinking.
Therefore, with an adequate preparation and a decent budget, you could start your mining business while having fingers in other endeavors as a soft landing when the chips are down. Good luck.

Life savings should never be spent all into crypto (in mining, trading, holding, etc), only risk what you can afford to lose, COMPLETELY.

...and yeah, just buying bitcoin and holding it can provide better return than mining IMO. But again, buy it with the money you can afford to lose.

According to analysis tokens of exchanges give good gains. For example there is lccx.io (http://lccx.io) - looks like promising exchange based in London.  Well developed white paper, experienced team, located in politically stable jurisdiction.

invest in yourself, do not trust your investment with others, and invest in trading such as bittrex, binance, kucoin and others, first research if you have less trading experience pay per move of trading coins.

Dude did you later invest as you said? Cause the way I’m seeing things now, if you did invested as of the time you posted this, you might have lost some money by now. But there is no problem, you’re still safe as the price will still go back up. But if you haven’t, then there is nothing like to worry about at all. I also believe that this time is the right time to invest, cause the price seems to be at its lowest right now. If you still feel like investing, won’t be a bad idea to do it right now.

I am sure he was not referring to falling back; it is either he rushed to type or getting himself confused with his use of numbers and English. However, since he mentioned moon in his statement, I can as well just relate he wanted to write $19000. This is a possibility, but when is what no one can say obviously. It is a market, it would grow more than this, and based on the level of adoption, it would be huge, but let's wait for that moment first.

Hope you didn't invest in BTC your life savings on December - 1 month after you wrote this. I remember in december everyone was telling BTC will not dump again o it's going to $50k. News was telling people selling house and putting BTC  to be rich.

IF bought the bitcoin in the time of December also he will be able to get the profit in next year for sure. Since the bitcoin price potential is not reached upto the expected value still we do not able to find the any other coins comparing on bitcoin's price.

If you want to make the life better with the bitcoin, even today is also the right time to invest your fund on bitcoins as much you can.
I expect this price will take us to touch the next time peak value in the market.

If you have a desire to invest then it will be better not to delay,Because the time that Bitcoin is now in place can not be there anymore, Now is the time to invest in this, I am a technical analyst, There is no doubt that such a place will be available in the next 5 years, Bitcoin is now very low...And if I said about mining, it's a lot of trouble, If it is good for you then you can...

What are you talking about? buying at December of the previous year was one of the worse decisions that any person could take, do you remember those that bought on the previous bubble when the price reached 1200? Do you remember how much time they needed to wait? Because I think that those that bought in December will probably need to wait for years in order to recover the money

My advice is to dont invest money you can't afford to lose especially your whole life savings. There are lots of ways to earn bitcoin without having to risk everything you have. And buying mining rigs isn't probably a good idea cause is costly and you can only earn little from it.

Invest in cryptocurrency investment funds.
Cryptocurrency investment funds serve as an all-inclusive platform for investors to capitalize their money all together so as to reap the innate benefits of a team effort.

Some popular crypto investment funds include:

Pantera Capital
BK Capital Management
Grayscale’s Bitcoin Investment Trust

Usually they require high sum minimum investing and accept only accredited investors but i created a pool investing group for PANTERA CAPITAL FUNDS where members can easily access those funds and enable  to take advantage of opportunities available only to large investors and can start with lower money.

My advice is difersifying as more as you can.

If you are interested check this link:

https://bitcointalk.org/index.php?topic=3393956.0

Hope you help

As my friend's experience shows, it's more profitable to buy bitcoin rather to mine it. There are better ideas for investment, even outside the cryptoworld (which is now highly unstable and risky).

Mining is something different and more complicated than just buying bitcoin. Mining needs place, electricity and more investment and also experience while buying needs just money and nothing more. The price is growing again and it is better to buy some bitcoin instead of mining and trading, because holding needs no experience. Just buy and hold for some time.

I share the same view as many of the other respondents. Although many of us believe in the future of this tech, it's anyone's guess which of these assets will perform and how well. If you have an appetite for risk, I'd maybe go as high as 20% of your net worth. But to invest everything is a mistake, no matter what. It is only wise to create diversity with your investments and hedge your bets. There are plenty of cryptos as well with a lot of room to grow, so my suggestion would be to find a few smaller projects that excite you and throw a small amount into those projects. If you are dead set on BTC and ETH, I'd do 60/40 or 70/30 in favor of BTC. Bitcoin for two reasons: 1) it is tried and true, battle tested and continues to gain traction/adoption and 2) ETH is technically a security, though there are many petitioning to erase that from the history books. Additionally, it has a lot of competition now with XLM, EOS, ADA etc.

Hope that helps and may the crypto g-ds be forever in your favor.

If OP decided to invest and start his own mining operation by November 2017 where he is right now. The profit is totally high if he managed to start that early.

Yeah this will be my choice either, considering the electricity bill in my country is quite expensive. I would choose to buy and hold.

It's really smart to just buy and hold bitcoin. Mining isn't applicable to a single person, it should be a group of people. You need to have the knowledge when you operate those things and with just one technical error then all of it will stop.

This is good idea and especially in these days because the price of bitcoin is growing again and it already crossed $9k. It means that today investors will make handsome money if they hold their bitcoin for some time. I suggest you to buy some bitcoin as soon as possible before the price go out of range. Then investing in bitcoin will give not a good profit and even lose due to fall again.

It's probably a good idea not to put all your life savings into something as risky as cryptocurrency... what if you happen to lose all the life savings, what are you going to do then?

Even you do have a group on mining but still it wont turn out to be profitable because you cant just make operations without minding the electricity cost into your place which means its still debatable.Investing your life savings would really be risky.It would be much better if you just get a percentage of that funds that would be put up on investment.Dont risk it all if you dont like to potentially wreck up your entire life since we know every investment do have corresponding risk.

Why do you want to invest in already high priced coins and then on top of it additionally mine them with all the further risk coming with it? If you have a nice amount of money to invest, then spend a week of your time and make your research about promising ICOs with low priced coins and the potential to reach huge winning rates if the selected coin will succeed.

I think it's not a good idea to use all your life savings into an investment, specifically in mining cryptocurrency. Because you don't have any assurance that you will earn from this method, and it consumes a lot of electricity that could cause your failure due to huge electricity bill in just a short period of time.

 :o Never do that. The cryptocurrency market is still very young and hence easily influenced by media news and FUDs. If you invest all you have, it's like putting all your eggs into one basket. Why not diversify your investments? A certain portion of it to be invested in Cryptos and a higher portion invested in real assets. That's my opinion of course.

The best advice I can give you is don't.

Don't invest anything you aren't willing to lose.

Period.

I suggest you to invest some of your savings in cryptocurrency and some in real business so that you will be mentally relaxed, because if one side loses money other will give you profit and you will never lose all your money. It is the best option for your savings. If you don’t have any ideas of regular business then keep some savings in your bank account but don’t invest all your money in crypto.

Stay away from mining with your life saving.

Making big bets in crypto like that is a big no. You could invest your life savings if you will only allot a 20% - 30% of it because it's still safe and remember that it's your life savings, so you should have some money in case of emergency.

Finding the right asset to invest in too is really not an easy thing to do. You really have to get lucky at some point to be able to invest in a currency that ends up getting pumped even more than you expect after holding for a long time. It is surely always good to diversify, but one should always be careful in this case as well as not all altcoins are worth diversifying into and you cannot really tell the future of any altcoin unless you just want to play safe by investing in bitcoin and any other top crypto.

Well, you are right in a way as luck may still have some little bit of part to play but not totally as every decision we make on any area of our investment is totally dependent on us. There are so many ways for one to invest wisely and to know exactly what one is investing into, but that is it. As much as investing everything can pay him in the long run if he gets lucky, it may also jeopardize his entire savings, so the best way is to always try as much as possible to play safe and take calculated risks.

It may be enticing looking at how the way the crypto space has panned over the years but it would be foolish for one to be putting their eggs in one basket when if it drops or end up not favoring one, it can be so easy to make some emotional decisions that would not eventually be in our favor or end up losing everything.

I can only recommend it to invest a new cryptocurrency at a bigger market such as binance, hitbtc, okex and others in the top 10 of the market, as it is long term investment, it is still long before they become delesting .

my advice is you need to learn first about crypto so you know what you need to buy for your investment. I think you don't have to use all of your life savings for investing in the crypto and I think you need to prepare for the worst thing, for example, the price of your coin is getting down for a long time. maybe you can use 50% of the total of your life savings so you still have money for your daily needs.

In my opinion you should not go with the bitcoin or etherium mining hardware , instead of this you should buy etherium classic mining hardware .
One of mine friend have etherium classic miner , he was saying that is much better than etherium or bitcoin miner because it doesn't create much heat but still we need to provide a better climate to the miners to make cool and also need a better space ( a small room atleast ) .
Here you should take care that you should not think that you will remain in profit every day because value of the coin may get down and also may get up and in that case you will remain limited to the amount of the mining , so fluctuations of the price may get Result into bad for you .
So even after become a miner you will face problem to hodl your assets and also here you should take care that you should make analysis whether cost of electricity high or down according to what you are getting in the mining , otherwise you will face big loss .

A suggestion would be not to invest your entire life savings into any investment whether it be cryptocurrency or otherwise - if you lose all your money on one wrong move then you are a goner. Make sure you keep a buffer of emergency money in case everything goes pear shaped too.

For entire life what we can expect as a investment. None of the project or business cannot be long lasting till the government is running up their business here mate. Kindly invest the fund on top crypto currencies like bitcoin, ethereum and litecoin.
These coins are really helpful to understand the worth of it now and do your investment soon on this coins mate.

Its been more than 6 months since the OP stated his idea here, and since then we haven't heard anything from him. I hope that he was able to profit in December 2017 otherwise if he put everything and all in he is not on a big deficit by this time. It only proves how the market literally turn to worst and if you gamble along the way, it will be difficult to overcome because of the current negative sentiments after the big break out run last year.

maybe he forgot about his thread and he is busy to calculate how much profit that he made. and if he can make a big profit, I am sure that he still continues to make another profit and he will come back to his thread and tells about his investment so far. but still, many of us cannot make a profit because some of them are too late to take a profit in the last year and now, they need to wait for the price increase back so they can slowly take their profit.

I agree. Also, the coins of exchanges are good choices such as HT or BNB.

I hope the man who created this thread didn't invest his life savings...
as we can remember November 14 was a high price for BITCOIN...
and look where we are now.

advice: never go in full speed, always give a half or less.

Realy realy bad idea putting your life savings into 1 plan, mining is hard and expensive unless you can get free or nearly free electricity and broadband. Personally I would not put more than 20% of my savings into anything-just imagine how it will feel if you loose all you have worked so hard for for so long, By all means reinvest your profits back into crypto and with luck you will see a big capital gain.   

L3+ and antminer s9 are the best miners being used in the many mining farm. You will be able to get the 500 USD atleast with these single rig. If you able to afford for multiple hardwares you please purchase the multiple cards.

Investing you life savings is not a good Idea,  because what if the price of the bitcoin that you mine or bought decrease or dump the price you lose big.

Maybe I suggest invest only the 50% of your lifesavings because incase they have not good happen you have money that can help to you to recover again . But if you have fully decided to invest all of your money to cryptocurrency just be careful of what investment or coins you invested to prevent losing of your life savings. Best of luck for you bro I hope your money will grow so you can buy all of your needs and wants.

This is an advice only and it's up to you if you want to use it or not.

Investing more than spare money in crypto is a big NO!
It is still a fairly new sphere. And it's still  very possible that cryptocurrencies get to near zero value.
Always invest what you can afford to lose.

Be very careful going all in. Some of the greatest investors in the world say never invest more than 5% of your portfolio into something risky.

Like my stepmom used to say NEVER put all your eggs in one basket!!!!

Mining these days requires a lot of things to consider, and the most important is the rate of electricity where you are.
Once all this can make mining feasible, then choosing the right hardware for the coin you want to mine is just the best and that can be done from research.

I see him should balance his personal finances first. Then use excess money to invest and increase your chances of making money. Do not expect a source of income, turn them into passive money. Only then will it be better and it takes time.

Really bad idea to invest your life savings into any single thing. It is imperative that you spread your mony about. I would suggest that bitcoin and for that matter any other investment should never exceed more 20% of your portfolio.

Your life savings???? Entirely??? I should let you know that the ROI on Bitcoin mining has reduced considerably in recent times and it is speculated to continue in that reduction trend...

Please, spread your investments. That's my most sincere advise to you

if you are looking for a place for good investment and can provide very many benefits then I can advise you to invest in bitcoin by buying bitcoin and hold it until the price increases and you can get very much profit.

If you wish to get rich like early bitcoin investors you need to find hidden gems. But its hard our days, as most are just scams. But for safe one choose top 10 from coinmarketcap.

for investment then you can use the advice of some people from the people here, I suggest you buy as much bitcoin as you can by buying bitcoin you also participate for investment.

Friendly advise;

If you want to invest money in something, you need to be precise and make sure you know its context until you have them down pat. If you have doubt about your investment or you have doubt about your knowledge about that something that you will invest, don't invest. Gain more information, read more and be %100 about your knowledge about that.

Shortly, if you cannot plan what you do next, don't invest; because it shows you truly don't know all things about that and you will be investing blindly and this is just gambling.

I think if you want a long-term investment then you can invest by buying as much bitcoin as you can because indeed from moment to moment the price of bitcoin can provide a lot of benefits.

The problem is not the room, the problem is your electricity bill, if in your country electricity is expensive then you are never going to make any kind of return with your mining hardware, on the other hand if you have cheap electricity then you have a chance to make profits, however right now is not the best time to mine since the price of every coin is very cheap and you could make more money by just buying coins.

First of all, how much are you planning on investing? Second of all, start small. Invest no more than half, see where it takes you. Don't put all your eggs in one basket... Although to be honest, depending on where you live, mining can be a dumb idea.

if you want to find the best cryptocurrency for investment then you should be able to buy as much bitcoin as you can because bitcoin is a good step for investment.

Maybe you should reconsider when your going to try investing your life savings in something like mining and buying mining hardware's because ive heard that mining crypto's like ETH and BTC are less profitable and much more costly because of the bills and the revenue you get is isn't enough due to increase difficulty.

Life savings is not something you should joke about, you know how hard it was for you to raise that amount of money and you should be very careful on how and where you’re going to invest that money so you don’t end up losing it in the process of trying to gain more from what you already have.

If it’s trading that you choose, then make sure that you’re very good at that and knows how it works. Then if you choose to invest and Hodl, then make sure you try to do it at the right time and also follow up with it.

I will not recommend using all of your life savings to invest in cryptocurrency because you don't know what will happen with the crypto market. it is better to use only 30%-40% of the total of your life savings so you still have money for your life. I always telling this to every people who want to join in the cryptocurrency because cryptocurrency price is always fluctuating and some of us cannot calm down to see the price is always changing. but it is up to you and I hope that you can think twice to use all of your life savings money.

The only advise that is necessary for anyone who is trying to invest his life savings is to know what he is doing exactly and also understand this space is not a get rich quick scheme and if that is the mentality is coming in with to invest his whole life savings, then, he is already threading on the wrong part.

A lot of people keep investing and getting greedy for the wrong reasons, but really, the idea is to be investing in the future, and if you have to do that, you will still need to consider the risk involved as well first to be able to have a concrete info for making your decisions.

in my opinion bitcoin mining is currently not profitable because of high oppressional costs such as electricity while the results are not much, my advice is you are looking for another business that is more profitable and with little risk

So far, this is just one great advice I can ever imagine and it is even surprisingly coming from a newbie. Right, what the OP thoroughly is to get as much as information needed to be able to make quality decisions in the space which I believe if he has, he would not be considering putting his whole life savings into crypto unless he is just totally done with the fiat system and so much believe in the long term of cryptocurrency.
Investing blindly is one thing that has made people lose so much money and whining today about how much they have lost since they cannot deal with the short term volatility alone and that makes me wonder, what information they actually had in the first place before even investing in the space.


I think, you need to be careful on what you are planning with pal, so I the better way or things to do is why don't you try to study and learn everything first before you make a tough decision, at least in the end you won't blame yourself. it is much better if start investing in some other altcoins in the exchange platform, or you can also invest in some good ico project where you can make your capital be multiply by x 10 up to 1000%.

The problem is also not on the electricity bill but the long term, whether it will remain profitable and ROI or not? because you know bitcoin mining will be increasingly difficult, reward mining will get smaller, especially if the cost of electricity in your country is expensive, if you really want to mine, look for altcoins to mine

I would not recommend ico investing until they are bound by regulations. Too many scam icos out there...

Please don't. Just think if you had an emergency and you need your life savings and then you remembered that you already invested in btc and now the price is sinking but then you have no choice but to sell it with losses. You could use your leisure allowance but not just your life savings because it is important.

Dont go all in dude investing is risky there's no guarantee you can gain profit even you invest your life savings, and given the fact that you are not knowledgeable enough to enter in mining business I have doubts you're not going to make it.

Dont put all your money in just one basket its better to diversify so if something happen with your investment you still have other investment to count on. But before you do that make sure you know everything and you have done your own research.

Yup it is really new things which is full of benefits, after some months price of bitcoin will be very high and those who are for now not investing and waiting for it to be low will cry then because then price will be very high it will be out of reach so better if you have money try to buy right now and never wait anymore because it will increase your profit for investing right now.

Yes you are lucky if you have thinking about to invest your money to bitcoin because I have seen a lot of people who are now sad because of waiting and not investing money with bitcoin, price of bitcoin get high and low so better to buy when it is low and sell when it is high, if you are investing your saving it will make your future brighter, so invest now and no need to wait anymore.

In my Humble opinion don't  put all your life saving in one investment.  Try to invest the 30% in cryptocurrency and seek good advisor. Keep the 40%  for yourself, you must treat yourself because you work hard for it and the 30% remaining  I suggest that you should also invest it in a physical  business  not in cryptocurrency.  Believe me.

after learning many things about crypto and blockchain I dare to give my savings up to 30% for crypto. crypto is a modern financial technology and has many advantages over its lack, when people realize that all crypto have fantastic prices and we will regret not investing

I think 30% is enough to invest in cryptocurrency because you still save the other money for your daily needs and I think this can work well for you especially if suddenly, all of your coins are getting an increase so you can make a big profit. and from 30% of the investing, you can diversify to many coins and you can buy a lot of amount from each coin and I am sure that it will give you a nice profit in the future.

I will suggest you not to invest all your money in cryptocurrency especially in bitcoin because the price of bitcoin is not guaranteed. If the price falls more you will lose your investment. It is better to split your investment in different currencies. By this way you will be mentally relaxed and hope that you will make some money in the future, but still keep some cash out invest in regular business.

Yeah it is a terrible mistake to invest all the money that you have in cryptocurrencies especially when you do not know what you're doing, this is a mistake that a lot of people make because they are excited about the possibility of investing in cryptocurrencies and making a lot of money with them but unfortunately the excitement very rapidly turns into disappointment when they lose money.

Well if I was at your place I must invest more than 50% than 30% because I am sure investing my money will never disappoint me but it will give me huge amount of profit and with the passage of time my income will get bigger day by day, I suggest you not to think even twice before investing your life saving to bitcoin, spare only 30% for our daily needs because other investment will make money for you so fast.

Tip Don't invest in crypto with your life saving.

I will suggest you not to invest all your money in one coin. Split your investment in different coins. By this way you will mentally relax because if the price of one currency falls other will recover your deficit. Putting all your money means that you are leaving other good investment options. There are some good coins apart from bitcoin. You can also invest in them.

If bitcoin  fall all other coin will also fall this is not safe at all

yes you are right if the price of bitcoin falls then the price of some other altcoins will also fall, but at least we know everything if bitcoin has a very limited total supply and very high demand making bitcoin very difficult to fall again. so it doesn't hurt to try investing in bitcoin.

I like your suggestions. I think nobody should invest all his money in one place. Anything could be happen. The investment options you have given is good. 30% for bitcoin investment and the rest should be in cash in local banks because if you need money, you would be able to withdraw your money from banks but not from cryptocurrency because it is not easily cashable.

You are going to invest all your money in cryptocurrency. It is good but I will suggest you to invest in different coins like bitcoin, Ethereum, litecoin and Ripple etc. there are thousands of coins in the market but you should only invest in top 5 currencies, because there are many scams in this world. You should be careful while investing your money.

There is a saying "do not put all your eggs in one basket". Do not invest all your life savings in this. Invest a portion then watch the outcome before diving into the river. Everything in life is risk, but do not take the highest risk. It is left for those who knows how to manage it.

The best advice I can give you probably already know,

"dont invest everything"

The question is not about the life savings, the question is how much you have for investment? if you have big money then you should split your money in different coins besides you invest all your money in bitcoin or Ethereum. There are many good coins which are very fast growing and the future of those currencies is very bright. Like Ripple, litecoin, Liza etc.

I just was basically concept this unique from your mentors who consistently to begin with protect and next dedicate basically in such important things you ought to appreciate. Even make sure you separate not to mention commit to unique without having to within detail. Despite the fact today securing btc is really cost-effective and yet running by your basics you need to basically dedicate a small % through crypto up-to-dateness.

My advice is that you do not invest all of your savings in mining, because in my opinion the current is less profitable while the cost of a mining equipment is very high. Therefore, I do not mine. It is a good idea to invest in bitcoin and altcoin, you can visit Coinmarketcap and You can choose the top 20 coins in the list, this is only my personal opinion

First you have to convince yourself that investments like mining also have risks. so don't invest more than you can afford to lose. if you really want to try mining you can buy mining tools on ebay or other online stores. buy just a few tools only to experiment whether mining is still potential and profitable by comparing maintenance and electricity costs in your area

I suggest you not to invest all your money in cryptocurrency because it is very risky and if the price falls more you can lose your money. The best option is this that you should invest some of your money in cryptocurrency and keep the rest in your local bank account or invest in some regular business because if you lose your cryptocurrency investment there would be a safe place for you.

if you are looking for a place to invest then you can find it on cryptocurrency, you can invest by buying as much bitcoin as you can and after that you can save it because when cryptocurrency or digital currency like bitcoin will be used a lot then the price is also will be very expensive.

It is very important to learn about crypto first before putting your money in it, because it is the rules of business to scan the whole environment before starting. When you become satisfied and realize that your investment will be safe and profitable then you should jump in, otherwise without knowing anything about some specific business you should not invest your money in it.

I will advice you to research first before you do it properly, because in your case if you got lose that you fall down in other way you're money will go in to nothing by the way i don't bet all your money in investment that you go do not put your self down just manage it all. I will advice you to invest in Bitcoin now because I pretty sure a few days or maybe a months Bitcoin will rise up again But don't bet all you money that you had, look for your future.

I advise you not to spend all the money you have to buy crypto mining equipment, I think there are still a lot of investment activities in the real world that you can do like for example you can invest in property because in my opinion the selling price of property will be increasingly increase and of course it will be very profitable.

if you are looking for the most appropriate investment then I can give advice to enter and buy as much bitcoin as you can, because bitcoin is the best place for investment.

This is the rules of business that you should collect all required data about the business or anything in which you want to invest your money. You may lose your money due to lack of knowledge and information about cryptocurrency. It is right that you should satisfy yourself about bitcoin and then put your money in it. it is better not to invest all your money at one time.

I'm not sure though about crypto mining equipment. Its very expensive plus electricity cost. And then you have to look which coins are going to be profitable. But I do agree with you with real property investments as the price really appreciates overtime or you can even have the property rented so that you can pay the mortgages. I will also go with jewelries because its a good investments and you can easily liquidate it if you needed emergency funds.

I will suggest you to invest your money in different coins like bitcoin, ethereum, Ripple etc because these are the best coins in the cryptocurrency market and highly valuable. You can make huge profits from your investment in the near future. It is also good to keep half of your money with yourself and invest half in cryptocurrency because of the uncertain conditions.

Yes its good thing to have an investment rather than just a mere bank savings that earns very little interest in a long period of time but, its also insane putting all of your life savings into investment. Keep something for yourself so that whatever happens to your investment, you will no regrets after.

Live savings plust crypto is complete recipe for a great loss that can even cause someone to think of suicide. There is no need to rush because there are so many times to make profit and opportunities in crypto so try investing in small amount and maybe start with bitcoin.

if you are looking for the right investment for your life then you should be able to take advantage of bitcoin and some other cryptocurrency for investment, because this bitcoin has a very limited supply and certainly in the future the price can be very expensive.

Crypto coin investment is the easiest and most profitable for the long term. You can create your own portfolio about the percentage of investments that are spread because this will minimize losses from investment risks. I myself will invest in crypto no more than 40%, I will use 60% of funds for bank deposits, gold, deposits and other real investments

I am not giving you any guaranty about bitcoin nor i advice you to invest. The only thing i can say is " Invest your money which you can bear to lose"

Start with low investment bitcoin is too much risky and i don't want you to lose your coins. Instead of asking others, you should ask yourself how much you can afford to take risk with.

You are right that bitcoin is the leading crypto and is best for investment, but I think that one should not keep all his money in bitcoin only, rather he can split his investment in different coins like Ethereum, litecoin, Ripple Liza etc. by this way he can be mentally relaxed. If the price of specific coin drops, other will cover his deficit. Therefore, it is better to buy more than one coin.

Actually since its your life saving money so better to not to put your all money in bitcoins. Seems you're newbie and not much aware about crypto currency.

You’re just trying to take a huge risk by doing that, investing your life savings? Lol, are you serious with that? 😳I can never do that, I’d rather divide that money and keep like 50% in my savings and then use the other 50% to look for what I’m going to invest in, and while investing I’m not going to invest only in Bitcoin, I will diversify and invest in like two to three things.

I will suggest you not to put all your savings in cryptocurrency, because cryptocurrency investment is very risky and you may lose your money due to fall in the price. It is much better to invest some of your money in regular business, so that if you lose your investment in crypto, your regular business will become your support for your future. It is much better idea.

  This is really a foolish thinking because investing your life saving to bitcoin will save your life and it will give you best opportunities of buying coin and invest your money to bitcoin so that you will not be worry about bad days of your life as you will be prepared for it, time to change now, never follow negative thinkers just buy some bitcoin and invest your money fearlessly.

I really really hope that you did not invest your life savings into cryptocurrency, please tell me you did not! Unless you had been one of the lucky ones who bought back when the Bitcoin/cryptocurrencies were really really cheap either back in 2017 or earlier on in 2018 and managed to make good gains - in which case lucky you.

I would rather advise you to invest in these cryptocurrencies and possibly in others, as over time, Proof of work will decrease and the algorithm Proof of stake will be used

Just a very simple advise , Do not invest everything in bitcoins and crypto. If you have gather good lot of money as your life earning, i will suggest you to invest some amount in digital currency and for the rest see what are other option available around you in your country to invest.

I will advise you to further your research and think more about this and know if that’s really what you want to do. I have never done Bitcoin mining before, neither have I mined any cryptocurrency before, but I have seen a lot of people complain that mining is not profitable and that expenses you will encounter will be too much,. They said it consumes power a lot, which means you will be paying too much of electricity bills.

at this time, don't buy bitcoin bro. the chart so bad. so you better choose the other coin to invest. ;D

I think you are considering good options. Both Bitcoin and Ethereum are good choice for investment that will bring you profit.
Still both these investments are risky, like every other investment you can make, so I suggest not to put all your life savings into it, leave something in fiat too.
And whatever you decide, divide your investment, don't put all eggs into just one basket thus you will diminish the risk.

I will adviced you not to go into investing all your lifetime savings for mining I mean there are lots of ways out there where by you can make money from Cryptocurrency without investing all your lifetime savings just like we have bounty Hunting  that's another way to make money in CRYPTO it just require your time and other related materials to get you started.

for my advice maybe you can buy bitcoin as one of your ways to be able to make a profit because bitcoin has a very limited total supply so it can make bitcoin prices expensive and you can get a profit.

As my friend's experience shows, it's more profitable to buy bitcoin rather to mine it. There are better ideas for investment, even outside the cryptoworld (which is now highly unstable and risky) :-\ :-\

insteaed of invest in bitcoin. you should invest the other coin man. tha merket of bitocin now look not good for you. you may loss all your saving with this market bro >:( >:( >:(

Mining may not be profitable in countries where the electricity costs per unit is high, then adding equipment, space etc may be very expensive and in between if btc values fall then you would end up in heavy losses. So better to invest in coins and balance your portfolio.

Currently the cryptocurrency market is showing signs of recovery and the coins in the top 10 on Coinmarketcap should be more concerned as it will rise sharply as the market recovers and the risk of investment is also lower than the coin has low trading volume. Have a clear investment plan to be able to develop this market well in the long run.

It is better to stay with bitcoin only as your main investment and don't pick any altcoin if you are not sure. But you need to decide how much money you will use and don't use all of your money to invest in the cryptocurrency especially if you don't know what coin to buy. And like I said before, stick on bitcoin will be the best investment you can do right now because Bitcoin will recover and the price will rise again to the higher price. But you need to be patient and don't panic if, in the next three months, the price cannot increase.

yes you are right now mining is not very profitable anymore because at this time the difficulty level of the algorithm used to solve the block also I see more difficult and certainly the electricity is too high because it will require very high power for mining machines and you know that electricity also has a very expensive cost so the results from mining are not too much and surely the profits will be very long. it's better that you do a trade that is certainly not too much money needed and the results can be too much.

do you want safety? if yes better you should not buy bitcoin at this time. just wait until next month bro. i think you can get a better price

mining is the worst investment that you can do

It is good that you want to invest in cryptocurrency. I appreciate your courage because only courageous people can invest in cryptocurrency because they can lose their money due to fall in the price. You should invest half of your money initially. If you think that it is good then you can invest the rest but don’t invest all your money together.

find a new ICO bro. it a good plan to invest for your future :( :(

the better way for your future is gold. it's safety hahha. just kidding

Never go all in. While crypto is here to stay, it is still volitile at the moment.
 
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Mining isn't as lucrative as it was back then.

In my opinion, if you want to invest in mining, the cost will be very high as the cost of the rig, hardware and electricity as well as other input costs. It will cost you less money and most miners now. It is also a headache to exploit crypto for high costs. So think carefully.

You can search Google for your required mining hardware and other accessories. The important thing is that how much money do you have because you told that you want invest all your money? If you have very big money then you should not invest all your money in mining. Buy some coins because if you fail in mining your coins will recover your deficits.

I would advise you not to invest all your money in one thing. And in the light of the current situation, I advise you to dont start of any cryptocurrency mining, because it is not profitable enough, especially for young miners. Better try your money by buying and selling certain cryptocurrencies so you can earn from the margin.

if you want to find a good and proper investment in my opinion you can invest by buying bitcoin because bitcoin can be very expensive because it has very high demand and has a very limited total supply that makes the price of bitcoin can be very expensive and can provide benefits which is very much for you.

Invest in bitcoin is the best thing that he can do but don't use all the money in crypto and put some money in your bank account, so you don't have any problem when you need to buy something. But it depends on how much your life savings because this will impact with the investment that you want to use. The bigger money that you can use to invest in crypto, the bigger the profit that you can expect, but this is not always guaranteed since we don't know what will happen in crypto itself.

This may be not so useful to the topic starter as I reply to a post from a year ago, but may be useful for future investors.
In my opinion, it`s way too risky to invest all your life savings only in mining equipment. Don`t put all the eggs in one basket - separate your investment.
Find several projects you are interested in, study the WPs and divide your funds between them. Buy some BTC as well, I`d say.
And don`t forget to keep some fiat currency on your bank account for everyday needs, Cryptocurrency may be not that common in everyday life in your country.

I suggest you not to invest all your money in cryptocurrency because it is very risky and there is no guarantee that you will earn money from your investment. It is better to keep some money in your bank account and if you realize that crypto investment is more beneficial than bank account then you can invest the rest of your money but don’t take risk to invest all your money.

Yeah it is good to split your money in different coins. Bitcoin and Altcoin both are good for investment. It is clear that there is a lot of difference between bitcoin and Altcoin but it is also a fact that there are some good Altcoin which are not only authentic but also reliable for investment. They can give you big investment in the near future.

Bitcoin is a unique profit-making investment, it brings a lot of profit to investors. Mining means you will lose money on mining rather than trading. Consider before making a decision.

if you are looking for the best investment for now and for the long term then you can use it to buy bitcoin, buy as much as you can because bitcoin every year will rise in price.

I have no idea about mining but you can search in Google and YouTube. There you will find the best solution for your problem. I just know that mining is just a waste of time in these days, because the price is low and miners are making no profit. They are just passing their time in hope that the price will go up in the future and they will earn some money.

In these days the price of bitcoin is very reasonable and you can buy bitcoin for your future. If you have patience and courage to bear any circumstances then you should invest in bitcoin. If you have trading experience, then it is much better and you can make handsome money in the future. Don’t be panic if you want to put your money in cryptocurrency.

If you are planning to invest for a good life saving, it's better if you invest in bitcoin because it's really good to have an investment like bitcoin and hold it for a long time because the longer you hold it, the higher the value it becomes.

For me I’d say that’s a huge risk for anyone to take, especially this time around that the price is down. It’s always good to make investment, but always have something left in case things happen to go south, so you will have something left at least. Divide the money you want to invest and make sure that any amount you’re going to put into this investment is any amount that you can afford to lose.

how can you say bitcoin price will increase in future? bitcoin price is very volatile nowadays. every day it drops and increases. but not going above a specific range. I think if someone want to invest his saving and want to do that in crypto then he should do trading. first, he starts with less amount when he gets experience and understands tricks of trading, he should increase his investment.

It is good decision that you want to put your money in cryptocurrency. I really appreciate your courage, because cryptocurrency investment is very risky and you may lose your coins with one wrong decision. It is better to split your money in different coins. By this way you will be mentally relaxed and satisfied. If one coin downs other will go up and you will remain constant.

Yes, instead of losing all your money in one coin it is better to split the coin by dividing your money into different coins. It is very good to research before investing into any coin which should give good income for your holding.

Yeah bitcoin is the leading crypto in the world and the market cap and earnings ratio is higher than any other coin in the market. You can make big money in the near future, while other coins will take long time because of the low price and growth. But you should search and analyze the market thoroughly before investing your money in cryptocurrency and make sure it is good for you.

How much capital to actually occupy the cryptocurrency?. And it makes me rich or poor. I am also confused about the investment process.

I believe so. There are exchanges that allows margin trading which is quite good than just waiting for the bullrun before you can profit. There are several of these exchanges one that anyone can be their liking is the bitfinex.  Its risky due to the leverage but you can handle it after all its bear market so shorting is the safest. One exchange that has this feature which is right now just in the development stage is the EOSex.com Hope to see it launched fully this year end.

I think you have some point the idea of having business can actually help you out when you want to start investing for long term purposes and just make sure you can actually gain enough benefits and make a wise decision before and after the result of the investment you have made.

Why are you discussing this? A man asked for advice almost a year ago, I do not think that this is relevant for him now, as well as mining in general for individual mining is not a very promising direction for a very long time.

It is all about the investors who want to invest if a person have money he should invest all of it, and if a person have less amount of money he should invest less but will have to hold longer for high profit,. Crypto currency investment makes all investors really rich because in my friends circle it has make a lot of people rich now who were  not having anything in long ago but now they bought houses and own business only because of bitcoin so just buy and hold you will get rich.

Mining is very risky especially in these days because the profit margin is very low and if the price of bitcoin falls little more miners will stop mining because of no profit. It is better to start trading. Trading is better than mining and you can make good profits in short time. For trading you need to get experience and knowledge about the market situation.

Don't ever try to invest all your life savings in cryptocurrency mining. Both bitcoin and ethereum mining no longer pays nowadays and you may end up soaked in huge disappointment. My advice for you is that you should buy some bitcoin or/and ethereum and hold. Do not invest all your money.

Yeah you are right, investment in bitcoin for long time is definitely profitable and you can make huge money in the future. But I want to tell you that you should keep some cash in your account and do not invest all your money in one time. First check the market and if you satisfied that crypto market is good for you then you can invest the rest of your money.

Totally agree that all-out investment is not a smart decision. For investment purpose, voalidity and risk should be always put into consideration. In cryptocurrency world, there're mainly business forms like this: opeing exchange, mining machine, wallet in payment field and other deriviate product. I personally suggest invest in payment field with either less volatile and lower cost to run. Bitcoin ATM would be the best choice to most of ordinary investors to get involed in cryptocurrency business. Here is one for your reference.
www.dobiatm.com/twowayatm-violet.html (http://www.dobiatm.com/twowayatm-violet.html)
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Invest in yourself and you will not make a mistake. Invest education, if you have money for that go to school, learn something that will make you more money. Learn about programming, web design, or something else, that depends from what is your passion in life. Invest a little part in cryptocurrencies, but investing in education is much better option.

Why not? You don`t need to mine bitcoin, there are other good mining options. Its all about what kind of equipment you have, with good equipment you can mine bitcoin but for that you need a lot of money. People still discuss this cause they don`t pay attention on previous posts, I discuss it cause I think I gave another point of view, nobody say nothing about learning and education, maybe some new people will check this and see some good suggestions.

In my opinion authentic and reliable new ICO project is better for investment. if the project manager is reliable and he has clean track record and people trust him the most you can invest yoru money in his coin. You will get huge quantity for low investment but don’t put all your money in one coin. It will be better option for a secure future investment.

It is good that if you want to invest in cryptocurrency the best option is bitcoin only because of the bright future. No doubt that the price in these days in not good but if you have some coins you should hold them for some time atleast till the end of this year. Hope the next year will be good for bitcoin price and investors will make handsome money.

It is good that you have decided to invest your savings in cryptocurrency. Now it is better to split your money in different coins like bitcoin, litecoin, Ethereum, ripple, and monero etc. some are big coins prices high and some are low price coins and you can buy big quantity for low investment. if you have big money you must hold some of your money in your bank account to use in time of need.

It no longer pays? if it no longer pays then no one would confirm our bitcoin and ethereum transactions.

What's the concern here is if you just are going to mine and will buy with small capital for the hardware it isn't worth it. But to say that mining isn't longer paying? that's just misleading. There are mining farms there that has been doing good though the market has been down until now.

I would strongly advice against investing all your life savings in anything related to Crypto. But if you`re so determined, I`d suggest investing not in mining equipment, but in Crypto trading - this way you more or less have conrol over the situation and your funds, while with mining you have very limited control over what`s going on with your investment.
Just avoid ICOs - invest in more stable coins to make your invesment more stable.

Everyone will advise you to invest a part of your investment in cryptocurrency and see the results. If you are satisfied and think that it is good than any other investment, then you can add more money in your investment. If you did not satisfy with this investment, you can put the rest of your money in some other business. But it is not good to invest all your money together.

Lol...cool !! It's a great idea! More people going into mining is a great way forward; just that currently, mining isn't really profitable for the individual miner....except of course institutional....group of wealthy guys can decide to form partnership and go into mining btc or eth and get some really profits....i will recommend you just look buy some good crypto and hold for the long....bitcoin must be in your portfolio with good amount invested in some altcoins......if possible invest in some good ICOs....

May be he has done all that you are suggesting him. Now he wants to invest in cryptocurrency. You should tell something about crypto world. Anyway I want to tell you should split your money between different coins. If you have big money, you should buy some bitcoin, Ethereum and Ripple, so that your profit chances will be more because all the currencies will not drop at one time.

Investing your life savings is a huge risk to take, you might invest your money with plans that the price will increase at a particular time but things might happen not to go that way as you expected it to be and you will end up losing a huge percentage of your investment. Some people tried that earlier this year and price dropped and most of them lost more than fifty percent of their money out of thinking that price will continue to rise.

I would like to advice you not to put all your money in cryptocurrency. It is very risky and if the price go down you may lose all your money. You can try this world from small investment and if you find it good then the doors are open you can invest more in it. If you want to invest all of your money then split your investment in different coins. it is much better than buying one crypto.

Of course all will give the suggestion to invest half of the savings because it is the best option, although he can invest all his money at one time and in one currency. But when he asked for advice now it is his right to give him the best advice. Observe the market, select a coin or different coins and put your money in it, that all. Leave the rest on time.

mining will continue to be used as long as bitcoin and ethereum exist and this is good for your future regardless of your fluctuating market prices you will still make a profit. buy an assistant for bitcoin mining and other types of minerals depending on the power hash and the price they sell, if you want mining ethereum then buy a VGA that is enough to be parallelized to produce a large hashrate to mine ETH. the settings are quite easy and profits will flow every time to your personal wallet

Did I get you right that you want to invest your life savings on cryptocurrency Mining? Please don't embark on what you may end up regretting. You may not recover your investment at all and this will affect you adversely. As at now, bitcoin and ethereum mining is a no for me.

You posted in November 2017. I hope you sold quickly afterwards. Unfortunately, a lot of people were making some big investments. I think we are past the "Capitulation" phase of the chart below, and entering the "despair" phase. I hope I am wrong.

I think going forward BTC will be a vehicle for wealth, not a means of obtaining it.

https://blogs-images.forbes.com/jessecolombo/files/2014/02/stages_bubble.png

Mining is really very expensive one because of the fact that you have to build your mining rig with the most new model of its hardware. Also, don't forget to include your power consumption through mining that will certainly costs you a lot.

If you can, you can try investing in China's stock market, which is just like the US stock market ten years ago.

investment in mining tools is currently less profitable in my opinion because the price of bitcoin and altcoin continues to decline and this will burden the operational costs that must be paid every day or week, if you are serious for long-term investment then buy some potential crypto coins which are divided into portfolios and you must do in-depth research on the selection of coins to support profit and minimize losses

The investment plan is good even though there isn't much profit in it these days .
I for one would not advice anyone to investall there life's savings in one investment.
You can diversify so your fingers don't get burnt in situations where the investment fumbles.

That is why it is called life savings because it serves as an emergency fund for you in case anything happens to you that need immediate cash. You shouldn't use it and you should use an amount that is outside that savings like your money for your hobbies or vices.

Well who would be foolish enough to advise such risk? And who would be foolish enough to heed such advise? It's common knowledge among investors to diversify your portfolio. And you'd also want to keep some as your savings in case of emergency pusposes.

All that I can advise you is not to invest everything, limit yourself to a small part and even break this part into smaller parts. All the same, investments involve risks, and it is not so easy to accumulate now.

Remember the words of Warren Buffet about not putting your eggs in one basket though this guy hates bitcoin.

Rule number one of investing; don’t invest more than you can afford to lose.
well if you decide to invest youre life saving you as well be decided to lose it.

Mining will not be suitable if you do not have some technical knowledge about it and also if the electricity in your area is not cheap. I will not recommend mining at all.


So you are advising investment outside cypto ? Well, people here want to look for the investments with the crypto currencies.

Well, if the life saving are invested in a proper way and place, they will never be lost. The best advise from me is to invest in bitcoins only. If you are not a trader and not a tech related person, saving the bitcoin in your wallet for long term could be the best and safest option and you cannot lose anything if you invest in bitcoin now. (As BTC is cheap these days).