Bitcoin Forum

The decision is getting tough.  This Friday, I will finally have enough $ to pre-order a 2 t/h machine but the mining difficulty has risen more than expected.  I may be able to get a little more bitcoins through Prospero X-3 than straight buying but I'm not sure that little bit is worth the risk of another delayed pre-order.  I'm leaning more towards just buying bitcoins now.  What do you guys think?



Update:  nevermind, answered my own question.  I think mining is pretty much a lost cause for this year.  Will probably buy coins.  Cointerra, Black Arrow, and also professional mining businesses coming in will make it even worse next few months.  Maybe I'll get a high-end machine next year.

For sure buy coins of same value especially now that bitcoin price has fallen.

Buy coins... with all the Gox news, the price of BTC is low today. It will probably fall to sub $300 briefly as soon as Gox claims bankruptcy, then likely shoot back up to the mid 600's.  Just speculation here, but that's my guess.

please on everything DO NOT BUY a prospero X-3  Just buy the coins which is about 11 and some change today.

Yeah just buy bitcoins for sure !! Im actually in the same boat. I got allmost 10 k saved after I sold all my 1st generation cubes and blades on eBay plus been saving for buying more mining power. I was thinking about buying all antminer S1 units then mine with them for 45 days and sale them all on eBay. The more I tryed to do the math on it the more it makes me realize I wouldn't do much better then just buying the bitcoins to start with. Expecially with the bitcoin price down right now...  So I guess the real question is when to buy the bitcoin ?? How low will it go ?? I dont think it will go down under 500$ even with Mt Gox bullshit ... But who knows if Mt Gox does go all the way under bitcoin might just crash to 300$ on all exchanges.......

The price of a bitcoin on the Genesis block website http://thegenesisblock.com/mining/a/254b3cc362 has been at $566 for about 2 weeks now.  At first, I thought that the website had it pegged too low but then Coinbase and other exchanges seem to be moving toward that price.  I've already bought about $4000 worth of btc on Coinbase recently when the price was about $650.  I plan on spending about another G this friday; the price on Coinbase is about $580 right now.  I personally would not wait for btc prices to drop below $400 because it may not happen.  A news article tomorrow or the day after (for example) could send the prices skyrocketing again.  I think bitcoins will reach $10,000 towards the end of this year.

My thoughts on mining now...   At this point in the game, the idea of a company selling a mining machine is like selling a machine that literally makes money; it's an oxymoron.  Some companies who just "loves" to make machine may do it just to do it but it would be rare for someone to give away a machine that makes profit.  Bitcoins are no longer a speculation, it is money.  I will still keep my eye out for any more new products from Bitmain since they do not sell pre-orders.