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Title: Buy vs Mine vs Contract Mine Post by: beatup666 on January 15, 2014, 12:46:49 PM Hey Guys
what do you think? Thanks beatup666 Title: Re: Buy vs Mine vs Contract Mine Post by: jurjtney0 on January 15, 2014, 01:52:56 PM Just buy and hold.
Mining isnt worthwile anymore. But mention that there is always a risk, so only spent that much you could afford to lose. Title: Re: Buy vs Mine vs Contract Mine Post by: beatup666 on January 15, 2014, 02:18:15 PM thank you
8) Title: Re: Buy vs Mine vs Contract Mine Post by: BlockChainLottery on January 15, 2014, 02:35:59 PM I'm missing the option: Using it as an actual method for paying. That would make Bitcoin stronger, thus more valuable. So the best thing to do is use Bitcoin for savings and use it for buying stuff.
Title: Re: Buy vs Mine vs Contract Mine Post by: lassdas on January 15, 2014, 02:43:47 PM I'm missing the option: Using it as an actual method for paying. The question was, what todo with $5000.Using it as a method for paying wouldn't make Bitcoin any stronger. ;) Mining-hardware is way to expensive to expect any profits, mining-contracts are even more expensive than hardware, lottery-tickets.....well, good luck. :D I'd buy and hold. Title: Re: Buy vs Mine vs Contract Mine Post by: BlockChainLottery on January 15, 2014, 02:57:07 PM The question was, what todo with $5000. Yes, that was the question. :D And the question is implicitly about how to make money with that 5000 dollars.Using it as a method for paying wouldn't make Bitcoin any stronger. ;) But I don't agree with your second statement. If Bitcoin becomes more popular, the price will go up and you can even make more money. After all, it is meant as a currency. So people have to actually use it so that as much Bitcoins are in circulation as possible. Title: Re: Buy vs Mine vs Contract Mine Post by: lassdas on January 15, 2014, 03:44:36 PM If Bitcoin becomes more popular, the price will go up and you can even make more money. More money?The point is, if the price goes up, you'll make more money buying and holding, than what you'd make buying mining-hardware/-contracts. But you're of course free to burn your money however you like. ;) Title: Re: Buy vs Mine vs Contract Mine Post by: thaway on January 15, 2014, 10:50:08 PM Quote More money? The point is, if the price goes up, you'll make more money buying and holding, than what you'd make buying mining-hardware/-contracts. But you're of course free to burn your money however you like. ;) Are you saying that contract mining doesn't make the contract buyer any profits? Or are you saying, Bitcoin value increases will likely exceed the profits that would have been found through a mining contract? Title: Re: Buy vs Mine vs Contract Mine Post by: Sido92 on January 15, 2014, 11:11:00 PM I prefere buying, except a few first hours/days of mining, when it's most profitable
Title: Re: Buy vs Mine vs Contract Mine Post by: Ladukas on January 15, 2014, 11:30:45 PM I would invest my money into mining equipment (scrypt), definitely. The reason is simple: the risk of loosing your money on that is so low. Why? Because:
1. You break even right after mining 30-40 percent of initial investment. 2. You break even at that point because you can always sell your GPU's and staff at least for 60 percent of its initial value. And if you have free power - you ARE IMMORTAL (oh, at least for 36 months of GPU warranty) :) PS there are people who may sell you mining hardware for hundred and sixty percent as well :D |