Bitcoin Forum

Hi Everyone,

I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.

I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s

Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.

I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.

tl:dr;

1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

Thanks so much for all your feedback.

*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

You can pay attention in terms of profit and look for profits that can get great results, and you should wait for July to buy a rig, and before buying a rig better you buy bitcoin first so you can benefit from the purchase of bitcoin.

I would suggest you to buy Bitcoins rather than mine them, mining is complicated plus your electricity will burn a big hole in your income. You'll have more expenses then income. Now if you consider to buy do not keep your coins in a exchange make a electrum wallet, write down your seed and pin never share this details with anyone. Make sure to never use your wallet on a public wifi. Buy at regular intervals and you'll get a good average. Buying and selling involves a fees keep that in mind. Hodl for the long term for daily rates used preev, trade cautiously and only with trusted people.

For a fund of $ 6000 you better buy bitcoin and invest or for you to trade, by buying bitcoin you will not be too busy to take care of your mining tools.

I advise you to invest only, can be long-term investment or short. But if you really want to buy mining tools, then you should be prepared for everything, such as maintenance, additional costs (electricity and so on).

Mining might even end you up with losses. Mining bitcoin for now isn't worth it in terms of profit if you're using GPUs(unless you're just planning on mining to help the network). Buy the coins instead. Mining can only be worth it as of now if you're going to mine certain altcoins.

Thanks for the quick replies guys!

Would like to add that electricity costs would not be a problem as I have a way to manage it.

Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

As the high value of bitcoin, it is harder and harder to mine. You might end up spending lots of money and what you can get is a very small value.  It'd better buy not mine.

Dude do not get in the complication of mining right now as it is not profitable anymore...you can calculate in some mining output calculator sites and you would know yourself its not worth..rather buying bitcoin is simple and can give you much more profit rather than mining.

If you are looking for higher returns, I suggest you invest in altcoin.
The return on altcoin is always amazing.

Seconded!

It'll take you much more than $6000 to earn your $6000 back by way of mining. It's not profitable any longer for the small time player. Bitcoin mining these days requires one to have the investment that rivals that of establishing a business to do so.

You can buy one asic machine to mine something
And all other moneys invest in altcoins

If the electricity will not be an issue then it can be profitable, but still depends on your setup and the cryptocurrency that you will mine, if you will go for gpu then mine altcoins because mining Bitcoin using gpus will not be profitable, you can use mining calculators to know how much profit you can get when you mine a specific coin. But let me remind you that not only electricity can be an issue in mining cryptocurrenies, the maintenance of your hardware and the price of the coin you are mining can also factor the profitability. So for me, you should start by just investing and you are not limited to invest in just one coin like put all of your funds in Bitcoin, because it is also good to divide your money in different types of coins that you think that will have a good future because it can also lessen the potential losses.

My best advice to you would be to just buy the bitcoins and wait for the price to increase. There are too many variables and risks associated with Bitcoin and Crypto mining for it to be a better option than just buying those coins. Yes, if you buy the GPUs, you might be able to sell them later to some gamer, but second hand cards does not retain their value for a long time.

Buy the bitcoins and hoard them.

You can buy bitcoin for your money. But buy bitcoin for 50 percent of your amount. For the remaining 50 percent, buy promising, technological altcoins from the top 10-15 for capitalization. It can be coins like: Iota, NEM, Stellar, Ripple or Neo.

Really grateful for everyone's feedback.

I have decided to deeply research more in mining alt coins come this july when new generation graphics cards come out.

I have not yet decided on purchasing BTC right now but I will be thinking more in to it.

Mining requires a lot of variables to be profitable...future price of BTC is one, but you also have price and expected output of the hardware, electricity prices, risk that hardware doesn't work etc.

Buying BTC has less variables : the only variable is the price of BTC going up/down.

I suggest you have to buy some Bitcoin first, then hold it until the value goes high. I read a lot of articles and made a lot of research about Bitcoin Mining. and there's a lot of things that you need to consider before you build a mining rig. so instead of using your $6000 in the rig. just buy some bitcoin or any other cryptocurrency and trade it when the time is right. or you can invest in some bitcoin-related busineses.

That's great if electricity cost isn't an issue. Many miners wannabe are wanting that situation but we don't have choice but to do alternative such as trading and buy and holding bitcoin.
Since you have more than $6000 as you mentioned you'll be able to purchase ASIC miner, then it's best for you to do all of it step by step.
Simply do the step 1,2,3.

If I had so much money, I think I would do both things. You can spend half of the amount for mining and the rest can be spent on buying coins for the long-term hold. There are a  lot of articles with the tips on what to invest in and how to do this the right way

I don't think that starting mining now is a good idea (especially on asic). Difficulty grows in leaps and bounds, profit  is very low and decreases every day. You have to pay money for electricity also.... So you will get very small earnings per day.
Better invest in some coins. But don't forget about security and buy well-protected wallet!

it depends on your decision, I think $ 6000 is enough to buy mining equipment, and you can start crypto mining.

and mining is the most efficient way to benefit from the crypto world.

Some things you should look for good strategy because mining today is difficult. and it will be even more difficult if bitcoin supplies are scarce, and you should always upgrade your mining system.

As you are new to cryptocurrency, so it would be better for you to buy bitcoin and hold it for long-term. It would be more profitable for you rather than mining bitcoin, as mining difficulty has also increased, it would not be that profitable.

If you are just only starting now to involve to this system, I think it is better for you to think first what will be the fastest way  to earn profit and by doing that I must suggested you to do investment first to btc. Just buy bitcoin and hold it for the meantime and when the value of it will pump much higher so that will be the right time to sell your btc or maybe if you want you can do a long term investment but it's up to you, choose where you are much prepared to do.

In my opinion it's good if you buy bitcoin worth of $6000 and wait to high the amount of bitcoin. That is only my opinion but its up to you what you what do in you money.

Minign bitcoins will not be possible with this much money. You can trade with it, also diversify with alt coins like ETH.

With your 6000 usd I think its better to buy bitcoin first. The asicminer is good choice but I have heard it takes long time to get it and for buying asic only pre order is accepted.

That's right, you can buy bitcoin for now  so your investment will run already and when month of July then you may go to your plan that you will buy a rig. Don't waste your time and opportunity to have an investment in bitcoin while you waiting because for sure you can able to earn while you are waiting when you invested to bitcoin for the meantime. Mining is one of the ways of earning profit that much profitable to us so good luck and hoping that you will succeed.

Mining right now isn't very profitable, unless you can get your hands on some cheap hardware, or live in a particularly inexpensive country, then it might be possible to generate a reasonable ROI. I would recommend sticking to safe methods right now, margin trading, leveraged trading, even day trading small amounts and you should be able to net a fair profit. It would also be wise to diversify, never put all your eggs in one basket as that's just asking for trouble.

If you still want your money to have some connection with mining you can invest in mining pools by renting equipment to mine.It is more safe in my opinion of loosing your 6k

I personally would have considered a third option outside those two. $6000 cannot buy a full bitcoin as at today and to make a decent profit would mean waiting and hope that price would increase to a reasonable point that as well is not certain. On the mining option, its way not should be considered at all for a newbie because of the intricacies of this line of business. But alt trading is just the right one to consider as that would give decent returns within short time but only if done right.

Use it from trading only as it is not sufficient for mining. You can invest in coins like ETH and ripple.

Investing in bitcoin with your amount of capital will be the most profitable decision, as you don't have to pay for electricity every month if you choose mining.
In my view investing less than 100k $ in mining won't bring you anywhere actually, and to be honest even large bitcoin miners are currently working with minus profit, as break even price for miners per bitcoin is somewhere above 7800$.
Many people already gave up their miners, because they can't pay from their pocket that long.
Investing and holding bitcoin is still the most profitable thing what you can do on the current market especially.

With the amount you have currently with you, I will suggest you buy bitcoin rather than mining. Mining have gotten harder now compared to those days. You will be surprised that before you get your Roi you might spend a lot more. With 6000 I suggest you buy bitcoin and invest, chances of you making profit is better this way. But you winged serious research so you don't just lose all your money.

Neither of these options are the best possible but if I have to choose I would definetely skip mining. Too expensive for profit that is actualy not worth mentioning. So don't even consider this option.
Buying is also not very happy option because no matter the current lower price you can't buy the whole Bitcoin but still it's more profitable than mining, especialy on long term.
Have you considered to invest in some Bitcoin related business?

In my opinion, your bitcoin mining strategies are very good. But I think at the current bitcoin price. You should buy it. Depending on the time when the bitcoin price is low you should buy it to hoard. In the future if bitcoin prices are pushed higher you should use buy rig to exploit.

I suggest buying Bitcoins, because the price is really low right now and it will go up soon. Mining is expensive, just the GPU will cost you a lot of money, then electricity will grind a lot of money and you will return your investment in more than a year. Buying Bitcoin could get you a lot of money if you wait even less than a year.

Well, it's really depends on you in what porte are you much preparing to do. But I think it is better that upon waiting to the month of July it is good that you make some investment first in bitcoin especially for now because it's in the downfall season so it means  it can make you much profitable in the near future and maybe before month of July. Being a successful investors is depend in the strategies of coin holder so good luck.

The easiest thing for sure is to buy them, mining this time is not a very profitable operation, too many people wanted to mine during the last months and they have only lost money, I wouldn't recommend it.

It is better to buy bitcoin today that to mine. That amount is not sufficient to get higher yields in mining bitcoin. But if you really want to go on mining, mine other coins and not bitcoin, the mining difficulty is high and not efficient.

Of course buy bitcoin you in the short term will earn more than buy a mining machine.But that's my personal opinion.

Mining is not profitable now. Unless you get an altcoin. The BTC price is now very low but it will fall. probably up to 4k $.

miner is not just buying a mine, it is a profession. you need to have the knowledge and skills to manage the mine. you can get a lot of different coins, but you need to know what and when to produce, what and when to sell.

If you are new my first suggestion would be to study more the subject, and then eventually buy bitcoin. Mining it's not that easy and you have to consider a lot of different parameters, so it's a bit complicated if you are new.

Our decision with our money when it comes to cryptocurrency depends on us, our capabilities and our objective in life, if we really want to have mining and we do have an idea how we are going to do it then it would be better, if we don't have much time then simply we can just buy bitcoin.

The coin is ready to boost up very high in the coming few months. It is expected that bitcoin will reach to $20000 within the coming few months so if you will buy a bitcoin then you will get a bigger profit in the coming few months while with a mining rig you cannot mine a higher amount which is expected with investment. Both are better but the profit is higher if you will buy bitcoin with that money.

You want profit so evaluate the one that give you more of your money with less effort. The mining is highly regarded to make you make passive earning than the buying and holding which can bring your total bitcoin value to half.

I will tell an obvious thing now, but it is the fact. When the market falls a mining becomes less favorable and to make smaller profit respectively. But if to reduce costs of energy to minimum, then and at the red market it is possible to get good profit

You have already stated much important points on what is profitable.. I think mining at this time with difficulties and graphic cards prices it is not ideal at the moment.. So I suggest direct buying bitcoin will have less risk than the other one and have more chances of much higher gain.. And also you’re new if ever as a miner,, technicality would be likely a big disappointment..

Take the much easier way as the price now is almost equal to your purchasing power.. That’s more or less to 1BTC at @6700$ price today..

According to the current market status of bitcoin, I think it is better to buy some BTC than mining and later you can sell when it's gone up.

I think you must mining, but also you can trading(buy coin) so, your can do it all. If you lose in mining, maybe you will profit in trading, Good Luck. It just my opinion. Let's do it and Good Luck

To me I think what you'll need later is the profit you'll get from it. So as per your analysis, you should choose the most convenient and profitable option. just analyze cost and benefits and you'll find out which one you should focus on.

you can make a rig mining premises 5000 and you can start trading with 1000 mu
mining will give you profit periodically and steadily, even if it's small in value
trading will give you profit anytime, even loss, with a large amount
that way, you will find out which skill is suitable for your hand

I also agree, this days mining with bitcoin is not profitable better to buy, but if he really prefer to mine better mine new potential coins it will surely give you good profit in the near future.

If your money is not enough to buy the tool with the power you have, better your money to buy bitcoin first in order to grow and get results in trading, and after your money enough you can buy the mining equipment you want.

Mining is good no doubt that in current time the price is too much down and the cost of electricity to too high, so you may not be able to make a reasonable amount of profit from mining, but you can arrange a free source of Electricity then no doubt that mining can give you a good profit, for example you can arrange solar panel which can provide you sufficient  amount of electricity to run your system smoothly, then no doubt that mining is too much than trading and holding.

...

Unless you are already highly skilled in Bitcoin (or other crypto)

and

unless you can buy powerful mining equipment very cheap

and

your electricity costs are very low...:

Just buy the Bitcoin (or BCH, etc.)

I would suggest you don't mine, as mining difficulty has increased and it may not be that profitable. You should invest this amount into bitcoin and altcoins. If you diversify your portfolio then it would be profitable for you.

Considering that the electricity bills are not a problem for you, I think that mining bitcoins would
be a much better choice for you because bitcoins will never lose demand in my opinion. Furthermore,
as a newbie, I think that it would be giving you better returns and be able to avoid losses than
investing because you are still new to this industry and may find it hard to measure when to buy or sell.

With Bitcoin, you can Mining, exchange or invest, depending on your preferences as well as your abilities! Currently, digital money is creating a lot of investment opportunities for members,
Good luck

well you have a very quite way to your option. if you purchase bitcoin you can invest to the icos to make way to earn profits instantly. in mining i think it would be worth it because you will have a passive income if you have that so you have many option but same perfect for you. for gpu over asicminer, if i were you i will waig its not too long gpu rig or mining rig need a proper maintenance and more effort than asicminer.

I think buying a rig is a safer move than buying bitcoin directly. No doubt, mining bitcoin is not profitable now. Even mining eth does not give enough profit returns. Perhaps  you might want to consider mining alts, those are more profitable.

For my opinion you can invest your money by buying coins that stakeable. There are so many potential coin to invest with. You don't need a high end rig for staking just upgrade your ram because it can use your ram space if you have more wallets running on your laptop or desktop. :)

If your money is enough to buy a miner tool, then buy a tool to mine bitcoin first. if your money is still there after buying a tool to mine Bitcoin, then buy a bitcoin and hold it until the price soars high. but if you hesitate to buy Bitcoin, then you can invest your money to buy Altcoin, which in fact is cheaper than Bitcoin.

I think it is better to mine them rather than Buying it ,
If you are going to spend some money then go for a long term profit mining them is profitable but it would surely take some time before you get back your capital.

for now I would advise you to wait for bitcoin prices at the lowest point until the price movement starts to increase. after you have enough time just then you can buy some bitcoin and I advise not to buy eggs in one basket so divide from a few percent of the money you have on another coin that has good potential.

Yes, I agree it's better to buy btc in its dip so that once the price rise you will get good profit. There are so many new coins now with potential and it will be good to add other investments aside from bitcoin.

Mining bitcoin is a lifetime income but very limited and maybe wont enough for you needs daily since you have limited amount of capital,i may advice you just to buy bitcoin today and before this year end th could be double and much bigger than what you can earn with mining,but dont just focus on bitcoin because theres alot of alternative coins that can bring you to richer,you only need to learn about them so profit will be on your way

Right now the safer and easier thing to do, in my opinion, would be to buy bitcoin, not to mine them. Everybody wants to mine, too many people, I would rather spend my money and time in something else.

Mine your Bitcoin. A lot of people right here will definitely say that you have to buy your Bitcoin since it is cheap. Mine since you know how to mine. You're making a statement that you can do things that they can't. It is very easy to buy Bitcoin but mining is important to the Bitcoin network so mine for as long as you can.

with cheap bitcoin condition, buying bitcoin will be more profitable for you. buy bitcoin now and sell at high prices tomorrow. once you have benefited from it, you can start to mine your own bitcoin.

That is right, we should decide in ourselves what path we want to have in our life, it is okay to mine bitcoin or to invest, they are both profitable it is just that if you will mine bitcoin you should have at least knowledge with it as well as in investment but for me mining is too difficult.

At present, btc is very difficult to exploit. With high price, if the mining will take a long time to recover capital, the market is downtrend, so you can buy it at reasonable prices and make profits when the market is uptrend.

There is advantages if you mining bitcoin with that amount of money. With mining, we can earn bitcoin and our bitcoin always added but we should calculating electricity cost too because in some country electricity cost are high.
The advantages buying bitcoin in market is we dont have to build mining rig and just hold it as long term investment

You should better buy Bitcoin than buying mining rig. Because Bitcoin price is perfect for investment right now. And on the other hand mining is becoming more difficult day by day .. And mining is complecated too. It's gonna cost your electricity bill too.. But if you buy bitcoin now by the December you'll get huge profit

Actually this is the same as with mining, you can mining bitcoin then the results you can make an investment, right?

But there are some things that make me or you uncomfortable, bitcoin mining is very time consuming, we cannot leave our mining tool in a long time. In contrast to the investment whenever we can go to where we want in a long time. Many people make investments as the second place, the first place they choose is trading, both places are very promising for profit.

buy coins instead. mining can only be worth it as of now if your going to mine certain altoincs.
you can be a trader too , theres a lot of advantages buying coin than mining .
i suggest buy coin instead .

$6000 is not at all sufficient for minign bitcoins. Also, remember that in addition to set up, you also have other expenses like electricity and maintenance.

I think better to buy as you said you are new mybe you would have problems with mining and price of BTC now not so high so buying now you would be in profit.

For me it's better to buy bitcoins, Less hussle and you do not need to set up yet. And the other one is to buy a mine when you have a profit with bitcoins. Especially now that the price of bitcoins is affordable. Take advantage of this time because it is definitely a big profit we can get here.

What others have told you was absolutely right. Invest your $6000 now. This is actually the right time to buy bitcoin. It dump as low as $6500 today and just a few days or weeks, it will sure go up, have a bullish momentum and will have a corrections.  Mining is not that profitable considering the high consumable in electricity. Anyhow, weigh all the benefits before choosing what is the best for you.

You should buy bitcoins because now price of bitcoins is less and you should make investment for a long period and Mining bitcoin for now isn't worth it in terms of profit because mining of bitcoins consume more electricity.

a wise opinion, that it is time to buy bitcoin at the current price, and just wait to hold back a few moments that will earn a decent profit.

I think mining or investment is good enough for those of you who have a way of overcoming electrical problems. It's just that for me the price and the treatment is still high. so what if I have it, I will choose to buy bitcoin to invest in the long term.

Mining might even end you up with losses. Mining bitcoin for now isn't worth it in terms of profit if you're using GPUs(unless you're just planning on mining to help the network). Buy the coins instead. Mining can only be worth it as of now if you're going to mine certain altcoins.

I don't want give you recommendation to mine or buy coins with your money because on them bolt there are high risk losing of money, i will suggest to you for learning more about the mining activity, trading activity especially in cryptocurrencies and any other related with bitcoin and any other cryptocurrencies. You must really understand about it because however you are very new in cryptocurrencies don't be greedy in the profit from cryptocurrencies before you know more about them.

If I am to decide with your $6K USD, I would rather start investing bitcoin and wait a bit longer until your investment will prosper. Once you will be able to profit good, then you can use your profit in buying the mining equipment that you need for your mining.

hi,
my advice is to buy GPU or even better Xilinx FPGA and mine altcoins and exchange these for Bitcoin (if you're objective is to get Bitcoin).
otherwise you can mine alts and sell some of it in order to pay electricity bills and make some profits and hodl what remain!
and if you know someone in your country who sell FPGA please tell me, I would like to buy it too!

My opinion is you should buy Bitcoin with your money. because Bitcoin is cheap now and every one is freaking about its price in end of this year. So according to situation you should buy bitcoin. there is a great chance that you 6000$ may become 15000-20000$ at the end of year.

You have to better options either you can buy bitcoins with all of your investment or mine some altcoins with low difficulty then covert it into the bitcoin in any exchanges but mining the bitcoin is not profitable at the current situation because of high difficulty and low value.

If I have $6000 to invest in mining or crypto, I am better investing on mining. Mining bitcoin or altcoin can give us earning every month. Many website can help us to calculate our earning in a months but we should understand about technical problem

6000$ is not enough to buy good equipment in order to make profit from mining. You could get back your money but it would take a lot of time and hard work to do that.

In my opinion it is a lot better to invest in bitcoin because right now the market is very low and it has to go up pretty soon. By investing in bitcoin or other coin you save all of that time that you would have spent to buy and install the mining equipment and also have a chance of making a bigger profit since mining is only profitable if you have lots of money to invest.

I think it's good to invest in bitcoin because you are new to cryptocurrency and now bitcoin in a low price.and also personally I don't like mining.

I have this feeling that you really want to pursue on mining. Eventhough you dont have any problems in electricity, still you should consider this factor. Maybe you have the way to manage your energy consumption, but in the course of time, you will just realize that its not worth it. The really best thing to do now is to buy bitcoin while its in low value. Sooner or later it will go up high again. Depends if you want on short or long term trading.

In my opinion it is better to buy and invest bitcoin with your money $ 6000, because according to the prediction some bitcoin price experts will skyrocket again by the end of 2018, when the prediction becomes a reality you will gain a lot of profit, I personally still hold bitcoin.

I think you are very wise to know about what you are going to do with your money but you need a second opinion from us all I gonna say is if you Goin to buy don't buy in one you have to devided in two, I mean 50% in bitcoin and 50% in altcoin for example.

You should buy, this is a temporal down, it will increase soon

https://btcmanager.com/major-cryptocurrency-and-blockchain-conferences-in-june-2018/

I agreed to what you said base on the research which the OP have done before now and in my opinion mining is not that profitable anymore but if you have access to cheap electricity, the require mining tools, space and time you can process cause it seems like mining is the thing you really want. In case, you have a change of heart try out UBCoin (https://ubcoin.io/en) it have a great concept and utility.

Well said cause the cryptocurrency market always survive every dump or market correction and what the OP need to do is to invest wisely by putting his money in the right coin cause the mining sector is not that profitable like the early stage of bitcoin.  Meanwhile,  Mozocoin (https://www.mozocoin.io/) have the require quality to give good return if you invest into it and theres their Ann thread  https://bitcointalk.org/index.php?topic=4169993.0

For me if I have had that amount of money I would rather invest or buy coins and it should be different coins do not invest all your money in one coin only.The equipment in mining I think is expensive and it takes time to get profit.

Mining isn't actually a  big and viable method of earning as of now. Apart from this, you are still new to the bitcoin investment industry so you should first understand the basics which will be well known through buying coins rather than mining. It is much more suited for you to mine when you are alreasy proficient and knowledgeable of every thing about bitcoin.

Hey, instead you wait until July, why not you buy some good coins back then ?
you will be able to sell it higher in July. There are a risk that the coin price will be lower, but i think when you buy good coins, the price wont drop much.

If you have enough capital to buy or invest in bitcoin then go for it, and likewise also, if you have enough capital to buy a equipments or gadgets which use to mine bitcoin, well it is also good for you. However all these choices are highly needed of effort and time in order to recover your capital being invested. What I mean is a full time access in order to focus and monitor the market price movement of bitcoin.

I would recommend you to buy it as the price is comparatively low considering the current market situation but if you can earn more amount in mining (calculate your profits in mining calculator) and if you can be there to monitor it frequently then you can definitely go with mining option as far as it is higher than your opportunity cost of investing directly.

For me, it is better if you use that amount to buy Bitcoin. Make the most of the down market right now. There might never be a time in the future when the price will be as cheap as today. With your $6,000, you can already buy almost a full Bitcoin. If I were you just add a few hundred US dollars to it so that you will have a single Bitcoin as an investment. Mining is good but with a cheap Bitcoin, it is not as profitable.

If I have 6000 USD, I will wait bitcoin to dip its price to 5,600 USD and then buy. After that, I will just wait and hold my bitcoin for 5 months and I will cadh out immediately. This is my main option because mining is not that profitable nowadays and it is better if you invest.

If you want mining bitcoin wait the announcements the new asic, S9 is too old and soon will be not profitalbe.
Buying coins also good, but with asic you can mine other sha256 coins in the future

You should learn more in the first about crypto currency. Learn about investing, buying coins, mining, or trading. Once you understand all about the existing business in crypto currency then I am sure that you will more easily determine the business sector that suits you. My advice is better you buy bitcoin with your money then hold it until bitcoin price goes up. Besides that, you can also learn while monitor the market and bitcoin mining movement. Once you understand it well, you can start plunging into the bitcoin mining world. Essentially, if your ability is not adequate then do not plunge into the world of bitcoin mining.

Honestly would just buy bitcoin, it is less riskier than mining - plus there are no additional costs excluding the capital unlike mining which is def costy on electricity.
There are vulnerabilities in mining such as damage on the hardware and even shortage on electricity.
You literally get money for patience if you just invest and do buy low sell high.

If you want to get profit much and sooner, maybe you should buy botcoin rather than mining bitcoin. Because in mining, we know that everyday it will collect bitcoin, but it is too small amount of bitcoin that produced by miner. If you buy bitcoin, you can trade it everyday and get profit faster than mie it, but remember it is not be easier to get, there also risk behind that.

my advice personally  to buy bitcoin with 6000$ its in accumulation phase right now  u will get at least 0.95 btc  for ur 6000$ hold it untill bull run start to reach all time high . mining bitcoin the investment how much u put  like example X it takes 1 yr almost  to get back ur investment ROI is very little margin in bitcoin because the power consumption is so high and you need to calculate the power also , to pay the bill . better that much money can invest in bitcoin  make 2x to 3x flip the coin  when rise sell it and when low buy it u can make 10%-30% profit  in 2-3 months   that is much better than  mining bitcoin.

I heard some good news for long term about bitcoin this week and Im surely believe that many investors are slowly accumulating btc in the bear market It can soar up high in coming months thats why my advised to you is to buy bitcoin and hodl it.

In my opinion you should know first which are you good at. If you are good in technical and maintaining a mining rig then you should do that. But if you are really good in trading that $6000 will be more and if will be lucky can multiply it more that can afford to purchase the mining rig you want. Invest it first in bitcoin and learn to trade then if you have earn already enough to buy that equipment to do mining then you should put some cash on it too, so you have too earnings. Good luck.

It would be better to invest if you what to play it safe but if you like playing risky and are having a great internet and some cheap electricity then you should buy a miner but I would prefer asic bitcoin miner and not the equihash one as they are the longest trusted Miners in the market till date.

I am also new to bitcoin donot know where to start from can anyone help me ?

I suggest you should used that to buy bitcoin because you don't have to worry about billing concerns and the maintenance for your mining set and mining bitcoin is not profitable now but holding bitcoin is much better way because it can gain profit for long term plan. 

I think Bitcoin $ 6000 is still cheap. You should buy at this time. Bitcoin mining is now obsolete. I think you will not be profitable if you exploit bitcoin at this time.
 :)

Am not sure anyone will advice you to mine bitcoin at this time given the cost of mining and the cheap price of bitcoin in the market. Anyone who advises you the other way may not be telling you the truth of the market situation. So I think you are better buying bitcoin for a long term than mining it.

I think bitcoin as of this time is in low price. I think you can buy it now, that is the best way to earn more profit. Minig has a big risk, for a newbie to bitcoin, i think you should buy first.

If you have solved the electricity cost, I would definitely advice mining, it is much less speculative and if everything goes wrong you will still have computing power, that can be used for something else that mining.

I think you should invest (buy bitcoin) part of your $6000, take note "just a part", not the entire $6000. If you decide wisely like this you may earn as much as you would if you invest it on one thing. Also, the risks are there, if you may fail on your decision, then the entire $6000 would be put on waste.

I would suggest you buy Bitcoin, mining is too time-consuming nowadays.

If you are new to bitcoin. It is better to buy first and then study it. So you should study it first and make it better for you to study bitcoin and give it time.

My only advice is you buy when the market is down because of this you will earn more profit.

Buy! I learnt a really serious lesson with mining. My mining has not paid me a dime. Please buy bitcoin withht the money and trade the ups and downs. If you are careful,you will make a ton of money.

My advice, you are mining only. If you buy bitcoin then it is enough to buy one bitcoin. Now the bitcoin price is falling so you can only hold the bitcoin passively because if you trade your bitcoin then it is very dangerous because the price is very volatile. Than you just work passively waiting for bitcoin prices skyrocket then you should use your money to do mining. By mining then you become more active in playing in crypto currency. Of course this mining is more promising big profits if you can apply the right and smart strategy.

You should try booth but listen,if you buy a bitcoin there is always a risk that the price of Bitcoin can drop but it can get higher,and mining you have to have a good computer.So I would say try mining and later if the price of btc gets higher then buy btc.

1. If you think that BTC will increase in value against USD

Buy BTC now, and sell later for profit.


2. If you think that BTC will decrease in value against USD

Hold on to your money.


Historically, buying mining equipment (or contracts) instead of the crypto directly has very rarely been profitable (why else would anybody sell the equipment?). And during the few unpredictable periods under which mining has been profitable, you could have made s bigger profit by just buying into the crypto rather than to mine it.


3. We can see only one valid reason for investing in mining

You are a tech geek and love maintaining tons of hardware and software around the clock - for a long time to come.


In a wider perspective, there is another reason not to mine - if monetary profit is your personal goal - and that is: the greater the global hashing power, the greater the difficulty.

Think about it. During the 19th century, very few made a fortune on mining gold (crypto), but a bunch of people made fortunes on selling pickaxes (mining equipment).

This boils down to our final advice:

BUY crypto
SELL mining equipment
HOPE that the market doesn't crash

For some peoples, they will choose build their own bitcoin mining because its give bitcoin every month. But before we start build our own mining, we should calculate our cost. Electricity cost is biggest cost and we should compare it with bitcoin price.

The mining of all cryptocurrencies has been decentralized for a long time. This made it possible to attract new miners. But now the situation is changing. People with large capital entered this business and now they are gradually increasing their capacity and replacing small miners. It seems to me that soon this market will be completely monopolized.

It seems obvious for me and then it would be much more effective and last time expensive if you would buy bitcoin instead of mining it, furthermore that a Bitcoin mining became to be more and more time expensive.

If the cost of electricity is not a problem for you, then perhaps it will be profitable. But I would advise you to better deal with investing and trading in crypto currency, as this is a more lucrative way.

If you wait a moment, you will buy 1 BTC for 6k $. In 2021, the BTC price increases up to 31k $. You will not lose ...

if I were you I would invest in btc rather than buying a miner because every time those miners get an update while the roi seem to be low hovewer when investing in btc for the same amount of time you may be able to have much more roi.

Depends on what kind of investment suits you. Trading is a more simpler way of investing, you buy and track the price until it reaches a peak amd then sell, easy as that. While mining is more complicated - assemble a rig, get good cooling and start, but that's not all, you get huge electricity bills so you have to have some money for that every month.

Much  better if you buy all your $6,000 a bitcoin,then set it with a long term investment. Just wait for the right time for selling,while keeping a lot of patience. In this strategy,it will help you to be succeed and will be earned more profits.

Mining cryptocurrency was once very profitable and simple. Unfortunately, the case now looks different. Mining cryptocurrencies is now quite complicated and often generates more costs than profits, and that's not the point! If I were you, I would sooner buy a cryptocurrency and preferably Bitcoin if you want to avoid the risk of losing the entire fund and wait for the right moment to sell it at a profit. I warn you against hodling because it often turns out to be very unprofitable. Do not be too greedy and sell a cryptocurrency with a slight profit because the situation may get worse at the moment.

You will have more expenses then income. Be sure to never use your wallet on a public wifi. Buying and selling involves a fee that keeps in mind. If Power Group will not be a problem then it may be profitable but still depends on your setup and the cryptocurrency that you will of me if you will go for the GPU then I altcoins. Let me remind you that not only electricity can be a problem in mining cryptocurrenies, maintaining your hardware and the price of the coin you are exploiting can also factor in profits.

I would suggest you to buy promising altcoins and then convert them into btc, returns are great if you are into right ones. Yeah it requires research but it will be less headache than managing a mining farm.

$6000 is a good amount to start investing in bitcoin and considering that we are in downfall, you can buy it at lower price and hold until the market recovers. If you will invest it to buy a mining rig, it will take time before you can be profitable, considering the cost of your electricity plus your time to maintain the equipment. 

it all depends on you, if you want to buy bitcoin at that price, if that will benefit you, there is no law forbid.... ;)

If I became you, I will use the funds for buy mining rig, and then use the result from mining to trading. Beside that, I will looking for another job such as bounty hunter to increase my profit. But with this case, I do that because I have a lot of passion in he world of cryptocurrency. How about you? what's your passion in this?

such small mines for 6000, do not produce anything, buy a cue ball and forget until better times, if there is a desire to get into the crypt, and so to study and study, so that the questions become answers.

if you can advise me, I would advise you to buy bitcoin with $ 6000 instead of buying a bitcoin miner.
and if I were you I would do that. but all options are in your hands...

First of all you must about all the requirements..Yes you can invest to buy a miner...But have you noticed the cost of electricity in your area ..What will you do if the profit you are making is less than the bucks needed to give the electricity bill...If you are having enough solar power then you can use that instead of direct electricity...And now comig to trading...Yes in trading you must be careful...You have to keep watch on all the price chart and get an assume of the price change...You will gain experience when you will trade...even there are many apps which will notify you when there will be any price change in cryptocurrency which will help you a lot.

On the off chance that I had so much cash, I figure I would do the two things. You can spend half of the sum for mining and the rest can be spent on purchasing coins for the long haul hold. There are a great deal of articles with the tips on what to put resources into and how to do this the correct way

Buying bitcoin directly from the market is a better option for now, mining difficulty has gone up significantly and as such profitability. Also mining for a new comer can be a lot tasking.

If we have not too much money it's better to to buy coin right now because the price of the market is affordable. We want to hold that coin for long term and wait a right time to sale that coin so that we can have earn more profit that we can used it for another investment.

Lets analyze your advice here, the total budget he got is six thousand dollars and if he spent half the amount to purchase an ASIC machine and he will get one Antminer S9 or Dragonmint 16T at that price and how much time will it take to recover that much amount, he needs to mine for more than three years to get the amount of coins mining with the price and according to the current price and these calculations happens only if you are lucky as the difficulty keeps on increasing and it is not worth to mine with a single machine, the best bet is to purchase the coins.

I think it's a good time to buy bitcoin because it's getting cheaper, by buying bitcoin now you'll make a profit in July and can sell it so you can buy the most recent rig, that's a good strategy.

Now if you look to buy not keeping your coins in an exchange make an electronic wallet, write down your seeds and never share this battery with anyone. Buying and selling involves a fee that keeps in mind. But let me remind you that not only power can be a problem in exploiting cryptocurrenies, maintaining your hardware and the price of the coin you are exploiting can also be a profitable factor.

I think it's best to use a mining rig so that the lifetime of the money can be spent because you put your money in cryptocurrency or bitcoin because you earn more per month.

You should just probably buy bitcoin. Mining is much more complicated plus the cost of electricity can get a big chunk off you possible profit.

I think that you need at least part of your money to invest in bitcoin. Now is an advantageous time for investments, when bitcoin fell a little. It will be your investment, thanks to which in the future you will be able to buy everything you want.

It is a matter of your analytical skills, ability to predict the market trends and movements and also the power of the apparatus or the mining equipment you got. If you are capable of forecasting the market's behavior by analyzing the current trends and also if you are a risk taker then investing on bitcoins or any other token would be the best option. On the other hand, if you own or as mentioned here, can afford the cost of a high end equipment, then mining would be a better option but since there are a large number of miners currently do mining in this area, the profitability would be a concern.

Yes this drops of price is best to buy rather than mining. Mining is complicated for me as to many things to consider. Investing in bitcoin is best since price is not that high and I believe we can see a good movement with btc price.

You have a hard decision, when choosing NVIDIA cards for mining, you always have the option to sell your cards to potential gamers. In this case, ASICminer Equihash 40K is ROI for about 200 days. It's a big investment of $ 14,800. Who knows how to develop the difficulty and also the cost of mining coins. My advice is to invest in bitcoin, its price in the future may increase, while hardware on mining is the opposite - over time, hardware loses value. The decision is up to you, my opinion is to buy bitcoin or invest in altcoins.

I suggest you buy bitcoin instead of mining. Mining is very complicated, many Miners are leaving mining nowadays. Mining can harm your area's environment too. But if you buy bitcoin and keep them hold or do a daily trade then you can make a good profit than mining. I am not an expert but I think this may be good for you.

i was going to give u advice to buy gtx 1080 ti but the new card is going to be released very soon so if i were u i will probably wait for it and spend on couple of cards and start mining this is what am waiting for ...

If you really know how bitcoin works you can get profit in the future. You still must have some knowledge to start investing in it. Hodl for the long term for daily rates used preev, trade cautiously and only with trusted people.

Buy the BTC rather than just mining them as buying will help in the longer run.

It is quite a time consuming activity to get into mining, is not like plug and play and is as speculative as buying. So go for buy-

For a fund of $ 6000 you better buy bitcoin and invest or for you to trade, by buying bitcoin you will not be too busy to take care of your mining tools.

My suggestion is to buy coin with your money and trade it wisely.

Make the target from your initial investment, if your target reached, then you should buy a mining rig

Wait till the end of the July for some amazing results that will astonish you.

I would personally invest in the bitcoin because with my past working experience in data centers, the electricity bill is insane. Unless you set up your mining rig in Canada or Seattle where they charge only 8 cents per KW but that will add up. Now the price is in the 8k range so I would wait for the market to come down.

As many others previously said, mining is currently not that profitable unless your electricity is low priced or, if you have big farms of mining rigs.

For us newbie, i think we must not invest first to avoid those people with evil intentions like scammers, hackers. As a newbie, its better to focus on earning a free bitcoin and understand well about this crypto technology. Read and research about other thread about crypto to get more knowledge before getting into investment. And if you think you know all of this then its time to invest and buy bitcoin.

Invest in the long term as that will surely help you.

It all depends on your desire. You need to set up a strategy if you want to invest in bitcoin. I think that it is necessary to invest, when the price has just begun to climb, after  some time you can make a profit. It is good way.

first off all if you are an newbie, you should learn a lot and study the market, and study the mining rigs, the algos, elecrticy bill, loose time on this.
what i can say is, i did the half way. i buy an mining rig, and the rest i invest in altoins. i am in loss now with every coin. first i started with daily trading. i dont have time for it so only do it if you have time. the best bet its buy and hold. hold and relax, comeback in a year. with the mining rig i do the same.
i hold all off mining. i start with eth now i am in xmr.
if i return to the pass, i will do the same. never put all in one basket. good luck

Really a helpful trend. Gives me a lot of ideas to start investing bitcoin.

Buy. For sure. However, consider altcoins rather than btc IMO

For the longer run, you must do some good investment and also buy the bitcoins.

In this current market, buying btc is a no brainer.  Btc prices are relatively low compared to end of last year, and mining is definitely not profitable at the moment.  I dabbled in mining a few months ago at the peak of gpu craze and I’m regretting every moment.  Returns suck. 

Now, with your $ 6000 I think you should invest in mining machines. Although, the time and effort you spend may be longer than the $ 6000 to buy bitcoin you can earn more than that. Currently, the price of a bitcoin is $ 8000 but you only get $ 6000.

I think you should a small amount to learn some about the market and watching it for a while for experience then diced to invest or not.

I advice you to buy bitcoin because his price will be high than now in future for me mining is very risky because you can lose your money in it without earning a high profit from it

It'll cost you time to learn mining, instead learn for AWS mining and try your luck there if you can get some Amazon accounts, few of my friends were doing it and they were also new to crypto and were interested in mining, but they found someone who suggested them AWS and made them understand how to use it to mine a few valuable coins. About your money, as of now, you should buy Bitcoins and hodl them until you get a chance to buy a few alts at their least (cheapest) values. Bitcoin is also good because ETF is in line and will make ways for investors to drive the markets crazy. You can set a buy order at lowest levels and who knows, you may get the best coins for least price and sell them later when alt season starts and such coins do a 10-20x and even give you a 100x shot.

Mining sounds really complicated to do, and the mining hardware  keeps getting better, and what  you as a private person can buy, might not be the same quality that the big mining rigs can buy. Big spenders always gets the best first.
I would just buy a Bitcoin for that money and see where it can take me.

Start mining crypto with $6000 is not a smart idea. I think you should buy Bitcoin at low price now, with $6000 you can buy up to 0.9BTC and hold it in months. I'm sure it will give you big earns.

With your $ 6000 I recommend you buy bitcoin. You should not invest in a platform to exploit bitcoin. If you buy bitcoin and long term investment I think it will definitely bring more profit than tapping

For me its good to invest rather than mining, you can buy BTC and hold it in a months. Buying coins is one way and easier to make a profit.

I think you can use your $6000 to buy and hold or trading btc it's a better way and have a higher chain than mining it.

If i had $6000 i would wait until the market goes down and then just buy BTC.

I think buying a rig is a way safer buying bitcoin directly, mining bitcoin is not profitable now. It takes a lot of time. Perhaps you might want to consider mining alts, it more profitable.

I think people need to stop answering the question because he was asking this 2 month ago and i think he got the answer already. :-\

I recomend that you  buy bitcoin  at this low price, cause mining is not profitable  and by just hodling you btc and when the bull run starts then you get higher profit .

Buy Bitcoin for $ 6200
When Bitcoin reaches $ 7100, sell it

I think you should use it to buy a 1070 GPU rigs. But now there are so many miners, so digging bitcoins is very difficult.

When mining you need to take care about other different aspects such as proper room, electricity cost. I'd buy the bitcoin in the first place.

Two of them are good choice,
but maybe i can suggest you to buy bitcoin and trade it. because it more simple and fast to get the profit than mining because it will cost you time to learn mining. besides mining difficulties have increased due to the increasing number of miners.

Option 1 guarantee it will work best for you.
Least effort, least things that can go wrong. Only reasonable behaviour for you.

Mining vs buying Bitcoin both link back to the price of Bitcoin increasing for profitability. The only answer here has to be buying Bitcoin.

It would only make sense for an individual to mine Bitcoin (or some other coin) purely for educational purposes.

u are new to bitcoin
i suggest you keep your $6000 in bank
study and learn more abt cryptocurrency 1st

GPU mining is  also dead   thanks to bitmain ASICing  everything  (secretly first  than selling  it   for more profits )  .... So  better  buy coins  with  6K  but  you  need  do  know  when buy ^^ . Do some  low   purchase  first  if you are a  newby .  gl

In my opinion, buy bitcoin is more simple and efisien than mining.
Mining need more effort to make good miner and lately there are a lot of miner and more miner will be increasingly difficult for mining it self.

I don't recommend that you do mining now. First, mining requires a lot of money. $6000 is not enough. Second, as the market changes, mining is prone to losses!

You Should buy bitcoin with your $6000.Bitcoin is easy ,you can get more profits by buying and trading.

You should use it to buy a 1070 GPU mining rig. With $ 6000 you can not buy BTC.

Earning bitcoin through mining is very dangerous. First, you have to invest a lot of money in mining machines (because a small number of mining machines can't get too much bitcoin), and secondly, the market downturn keeps bitcoin prices down!

it depends on your financial situation. nowadays it is pretty difficult to start mining because of all the miners out there, it will take you longer to get into the system. I have a friend that is mining, but he has a partner that takes over when he is busy so they are like tag  team partners, this way they are able to mine almost 24/7. or you could do both mine and buy, the market is going down at the moment so it is a buyers market, just pay close attention and try to buy at the cheapest time possible. also good to read more about bitcoin before you start to invest.

You must buy them instead of mining them as that is the best solution.

I have a suggestion for you. You better buy BTC, it's easy, and because I'm sure the price will rise soon, maybe unlike last year, maybe approaching. if you want to mine, maybe altcoin can be a solution. but choose an altcoin that has a bright front

I think the best way to do  that is by buying whatever you can.

You are new to cryptocurrencies and you have 6k USD. You are likely to be separated from your money very quickly.
My humble suggestion is to buy BTC and hodl.
Maybe trade with 10%. Not more.
Mining cryptos is very unlikely to be profitable for a newcomer.
RR

It is better to buy bitcoin and invest in some money than mining them.

1. Should I buy bitcoin with my $6000

Not a bad option but your ROI will be a finite amount based on the rise/fall of bitcoin alone.

2. Use it to buy a 1070 GPU mining rig

Mining offers a longer and higher ROI than direct investing when using some general assumptions. As far as a 1070 rig goes, there are many better options out there based on upfront cost + energy consumption to hash rate.

3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

This may be the best option as far as the new GPU's however you risk losing out on gains in the meantime especially as availability for the new cards will be scarce.

Good for you if you don't mind the electricity cost because you can have more decent profit. However please keep in mind that return of investment ( ROI ) will be more or less than a year but still depends on the coin you'll prefer to mine. It isn't a quick profit thing, by the way.

Though it seems waiting didn't bother you but I think you should reconsider in buying bitcoin now to see how you can profit in trading nor holding it. Just don't diversify too far in altcoins and try to focus more in bitcoin.

I would say invest.

Mining will be complicated and will use up ALOT of electricity, driving bills up really high. Not to mention it being more and more difficult to mine bitcoin over time, and you will probably make more from investing then mining overall.

Just my opinion though.  :D

I will advise you to invest it on bitcoin as this is relatively easily to operate.