Bitcoin Forum

First and foremost I want to thank all the really cool and helpful people on this site, I've learned so much just by coming on here and reading what I can a couple times a week the past couple years.

Just wondering what everyone's opinion is - 

I know I'm late to the game - a tiny bit. I've been mining over the past year with my Gaming Rig with just 2 1080 Ti's as a hobby.

The Bitcoins I have I bought a long time ago and have just been holding onto them, I have currently 20 bitcoins and was wondering your opinions - what would you do?

Would you continue to just hold onto them or would you invest in more mining equipment?

I was thinking about taking out about maybe 5 or 6 coins to start an actual "farm".

What I would build would be 1070 Ti rigs and 1080 Ti rigs.


What I'd like to discus is would you guys having the choice, would you hold onto your coins, or would you take out a portion to build mining rigs?

Thanks all - let's keep it clean, I value everyone's opinion and hope we can have an awesome discussion - I'm interested in the future and where we're all headed.

Both could be beneficial at this moment, however, mining is a passion, I just love to see my machines working and constantly seeking profitable coins to mine, then Selling it for a high price when pump. Holding is a no brainer with Fiat profits. ;D

Personally, I'd say that if you're looking for all the insight you can get, you may be best served heading over to the speculation subforums.

I would personally hold the coins, and put some of my existing fiat into a mining rig. (Having both available is good, since there is some security to be found in the value of the mining hardware alone, with some exceptions for ASICs.)

Exchanging coins to purchase mining hardware would leave you responsible for capital gains taxes, at the minimum, and buying everything directly with cryptos is, quite frankly, a pain in the rear at this time (and technically you're still responsible for taxes there).

Yes mining is a passion. I have tinkered with my gaming rig daily installing new software and trying new coins to mine and software to install.

So are you guys selling all crypto and converting to rigs, or holding long term?

IMO, you are better off investing in rigs at this point. About two months ago you would have been better off investing directly in BTC by far.

https://bitcointalk.org/index.php?topic=2343932.msg23889570#msg23889570

The easy double and triple gains on BTC are probably behind, for the most part. In contrary a lot of people coming in to Crypto will realize there are lots of Altcoins that look cheap in comparison, so it's a great time to be a miner. :)

Invest in rigs if you want a hobby, but is probably not the best to make money.

I would go for second option, mining is currently doing alright, but only 2 months ago it was only around 30% profitable of what it is now.
If you still want to go for mining, either invest in newer & better graphic card models, or wait for introduction of new technology cards.