Bitcoin Forum

Hello,

I've been reading for a while about all kinds of cryptocurrencies and I have some questions. If I have 300$ to invest in this domain in which mining gear should I invest . From what I've been reading the bitcoin is way out of my league so what other ways are there to make some money with this coins ?

Should I invest in some GPU-s and go to certain only gpu or cpu currency ? Thank you .

Sure buy GPU's to mine other alt coins but I'm suggesting you to buy bitcoin, the price is probably going to spike up in 3-4 months

invest in gpu and mine scrypt coins. You can alwas sell it later (rather than some asic).

as might as well point out if there's no more use for the gpu in crypto currencies you can always use it for gaming  ;D

Take up to 50$ to buy a good book about technical analysis,
https://en.wikipedia.org/wiki/Technical_analysis
buy BTC with the rest and apply what you learned.

Stuck to bitcoin!

Before you will invest anything, make sure your are competent enough in this field

don't buy mining gear, bitcoins and dogecoin are on it's lowest right now, they will start to rise soon (dogecoin already started :D, altough it fell to 0.8$/1k it's already 0.9$/1k) and bitcoin will double soon, so it's far more profitable and secure to buy bitcoins or dogecoins and wait until their value increases then buying mining gear ;)

With $300, no equipment you buy will be worthwhile.  Since all coins are cheap now, just buy coins and hold.

When will the price go to 1000$ ? Is it worth to invest in LTC or BTC.

You should not invest in mining ...


You should invest in LTC (or btc) and then trade online to increase your balance

Nobody can answer this. Guesses on the price are just pure speculation.

Never buy btc mining hardware! It doesn't pay. Even if you buy a 2 TH Terraminer (6000$) which in fact mines only 1.7 TH, adding power costs (power consumption is 1650 W) you will lose money. The cheaper the hardware the bigger the loss!

what if he has free electricity?

Funny, but I actually have free energy but not enough money to buy a 2 TH/s machine. So , if the electricity is free which currency should I invest in ? I want to start mining with my cpu /gpu or even upgrade to a better gpu and start making some tangible money.

Thank you.

P.S. I've been using the doge profit calculator and it says that I should make 130$ a day with a 30GH/s rig , which I could get at 300$ so why wouldn't it be profitable ?

bitcoin or dogecoin..

if you're into mining probably litecoin but investing in bitcoin or dogecoin would be a smart move..

doge is already starting to rise to it's old value and bitcoin will start too soon ;)

I was talking about bitcoin. If you are interested in the math behind it I can help you. Hint: http://en.wikipedia.org/wiki/Geometric_series
Always think of the mining difficulty increasing every 10 days by about 20%.

I'd say buy bitcoins. As long as they're 400 usd-ish you'll
profit -lots- when the price goes up again.
It might be 300 dollars thrown in the sea, but it might
spike to -huge- profits. Investing is taking a risk, but I'd
do it.
Best of luck!

Exactly!

Trading is probably a better way to earn coins than mining, but you need to get some coins before you begin. If you dislike trading or need a new graphics card anyway, then mining may be a better option.

Buy Bitcoins, make cold storage and hold them for 2-3 years.

what about nxt coin?  you don't need any GPU's to collect fees, just a lot of nxt but I don't think 300$ will get you a whole lot of nxt maybe just around 5000 (not sure exactly but you would probably need a lot more nxt in order to make it worth it for you.

I would personally recommend Peercoin for a safe long-term investment in the proof-of-stake concept. There is a significant risk of Nextcoin being a temporary fad, while Peercoin has always been the third largest by market cap.

perhaps but that's what they said about bitcoin when it first came out. . .

Agree

For sure, invest in GPU and after that mine your coins. ;)

Agreed, we wait good news like paypal or ebay accepting Bitcoin.

Ok .  I will start buying some bitcoins or other alt-coins but which is the safest and most profitable place where I could buy ? I saw that mxgot has disappeared.  I will look into the trading part of the coins .

Depends on several factors and where you live etc. just use cryptsy or btc-e. you can use bittylicious if you're in the uk.

What do you think about Litecoin , Peercoin or Doge ? Will they have a chance to get close to the Bitcoin value in the future ?

Why isn't it worthy to invest in scrypt mining ?

My personal guess is that Litecoin has peaked; it offers no real improvement over Bitcoin, unlike several other altcoins. Peercoin will most likely overtake Litecoin, but it will take some time. Dogecoin is a wildcard. Note that long-term investing is very different from short-term trading. In an extremely volatile market like cryptocurrencies, I would recommend short-term trading, since it is quite difficult to correctly predict the future.

Mining scrypt-based coins is probably more profitable than mining SHA-256-based coins like Bitcoin or mining CPU-only coins like Primecoin. Mining is designed in such a way that early adopters are rewarded, so watch out for new coins with potential!

Agreed, go to BTC-e for volumes and Cryptsy for niche coins.

This seems very accurate - Litecoin isn't really going anywhere from here, and doge could go either way - good observations.
I wouldn't invest in peercoin though to be fair, bitcoin is still the strongest alternative imho.

So I made an account on doge.poolerino , I have a dogecoin wallet on my PC. I use minerd to start some CPU mining . How can I see how many dogecoins do I have on my account ?

I ran the .bat and modified it with my username and worker , the program is working but I can't tell how many coins do I have.

I just want to see 0.00000001 (or any number) coins in my wallet, to confirm that it works for me .

p.s. what is that "accepted 12/12 (100%) 10kh/s (yay!!!)" thing ?

mine with your GPU, CPU mining is a lot weaker..

you'll see your balance change on your pools account after you find a new block and it gets distributed among miners..

Thanks for the info.  Now I officially have around 10 doge-s in my pc wallet. Will be researching more in the mining department and see what's best.

Do you think there could be a future for scrypt coins where they would value much more than now ?

How can I make sure that the money in my pc wallet won't disappear ? (I've heard many persons getting scammed )

Hi everyone,

Not sure if this is a good idea to use this post, but ownage18's request seems similar to mine. I will create another post if you think it's better.

I wonder if it can be interesting for someone to invest small amount of money in cryptocurrencies?
Let's say I want to invest 200 EUR (~273 USD). What should I do?

1) Buy Bitcoins and keep them for years. But even if Bitcoin's value is multiplied by 10, I will have something like 2700 USD, which is good but this will be in a few years (and a "one time only" result), so it's not really interesting.
2) Buy Bitcoins or alt coins and sell/buy on exchanges. But because I only have a few amount of coins, it will take a lot of sell/buy transactions to win something interesting. And it means that I can easily lost everything if I made a wrong offer.
3) Choose a number of cryptocurrencies (let's say the 5 most known), then buy somes coins on each. I wait, and if one has a great value's increase, I convert them to EUR back.
4) Do nothing : investing small amount of money in bitcoin/altcoins is not interesting
5) Something else. Any tips/help?

(I'm paying electricity, so mining is not interesting for me).
Thanks in advance for your help ;)

Always keep it offline. Best protection from any malware trying to steal your wallet.

Good to know

Invest in dogecoin
Dogecoin will go up as it is quite popular.

@shanem :

You mean buy and hold for the long term, trades, or else?

you can try to buy low (now) sell high ;)

that's pretty much it :D

Not really an investment, more like a gamble. It's risky although a bit predictable.

then it's a gamble to invest in stocks too :)
well, it is, don't know why I mentioned it xD

but it's unlikely bitcoin will go down, so just hold your coins and buy as much as you can now :D

Yeah, it's probably the best investment.

I see. Yeah it seems risky but it can be a nice profit. I will read some docs on Dogecoin. Anyway Dogecoin made me laugh a lot yesterday, it's a good idea to use the Doge meme xD.
About Dogecoin, I can't directly buy Dodge with EUR right? I have to convert them first in Bitcoin then to Dodge?
Thanks for your advices. Anyone with another opinion / investment advice?

Just buy some bitcoin as they are still cheap now :)

Price is going up again! Bet we'll hit 900 again within 2 months. :>

I just bought a few coins on https://www.virwox.com.
Bad choice, transactions were really high, but it's just a few bitcoins to start. (and I don't like to give informations on my bank account on "untrusted" websites).

@apsvinet: I hope too ;) But i'm planning to invest only 200 EUR so it will not make a big difference for me ^^

as all the sr member together with some hero member advice to me to sit on my btc
btc itself is an investment so i decide to hold it or keep it

how much have you invested in bitcoin?

me? i just earn it on some faucet and some jobs here :)

Ok.
I tested some faucets, but it's like you win almost nothing (at this time).
I think I don't have the "long-term view" ^^.

just try anything there is a lot of things to get some btc i always leave all my coins that i earned on micro wallet when it reach 100k then its automatically sent on my wallet then the coinad right now i have like 20mbtc there my freebitcoinz the freebitco.in lol there is a lot of faucet with great payout also :)

Thanks.
I tried some faucets from https://bitcointalk.org/index.php?topic=74046.
It's nice but i always make the "btc => EUR" math in my head and then i'm sad  :(
^^

you will earn more in the future :)

Cheapest way to do it is buy coins from ppl and hope they raise in value and resale. Btc is a good way to go but yes it is expensive and fluctuates a lot. The hardest part to the hole process is figuring what coins are worth the time and money.

I plan to invest 1000$ in cryptocuurncies. Should I invest in BTCs or the Altcoins? Which one is safer with good returns?

much better the BTC or LTC since this 2 is the strongest among all the crypto

@Chucky1976 : Have you found some interesting alt coins? ^^

I have invested in a lot of different coins. There is no quick return on most that I have bought in. The biggest issue with choosing a coin to invest in is so many new coins are a joke. The best thing I think you could do is get in on btc while its where it is and hope it keeps climbing then if you see a coin you like you can buy in with the btc.

Ok thanks. Seems to be a good advice.

Just letting you I have a lot of coins that aren't doing anything but sitting. So there are no gains. Most the time they drop so I'm actually losing but then they go back to even. It's a big gamble on most of these coins. I'd buy in on btc it's going to go back up.