Bitcoin Forum

i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange?

no... go away  ;D

buy coins you think will grow. mining became too hard and time taking

only market knows. try and experience it

depends upon your investment size and how cheap you are getting your hashs.With current difficulty and price it not feasible but if the price go up then you can break even.

I got in 1.5 months ago.. so far made 1.2 BTC by mining and trading.. so still profitable imho

U can buy some good, well developed coins as they are cheap now. U can also start mining new coins.

Of course.... but keep an open mind and be ready to switch algos / softwares as and when the come and deems profitable. Be on a lookout for all announcements.... be prepared to spend all day looking at charts and pointers from others, rumors, etc The coins you mine may not be worh anything in a few days... while some will pick in value after a said date or when some feature is implemented. Use your brains. If you don't have any, listen to those who do :P And most important of them all.... DO NOT get emotional over a coin. That wil fuck with your judgement... see them as "brands" in a supermarket. Some are in sleek packaging but are like lays.... a few crisps and a lot of air. Some are ugly as shit, but you will be surprised at the exotic ingredients it might have. Be ready to buy coins whose devs and community you cannot stand... and similarly sell the coins that you held for over a month. Play our cards right and you will make back your money within 6 months (including paying electricity bills)... the rest is pure profit once you have your cost recovered.

It also depends on how much to you are willing to invest in trading/ building the rig and switching coins. Some people see building a rig as a hobby others like trading.

Buying a certain coin is more risky because you put all your eggs in one basket, when mining you can always switch to a new coin.

I think it is still worthwhile to mine litecoins, I expect litecoin value to rise, not sure about the new alts though

Rather than building a GPU rig for altcoins, I would suggest you directly jump over the next stage, scrypt ASIC. GPU mining of most altcoins is going to be out the door in a few weeks. If I were you with some decent money, I'd order a KNC Titan scrypt ASIC or Fibonacci chips and start mining Litecoins when I receive it. Meanwhile you can do the buy-sell trading. And if you have a couple of GPUs you want to utilize right now, point them to some X11 coins such as DarkCoin.

I agree. If you are building a rig for scrypt, go with ASICs. You'll need to mine for 3 months and then sell your hardware to someone who doesn't understand that the hardware will be worthless in 3 more months.

If you can't do that, set up a GPU rig and mine ASIC resistant coins. Scrypt-n and X11 are good for now. As they become more profitable, the ASIC makers will try to hit them too.