Bitcoin Forum

Hi guys,

Been lurking for a while here and figured before I spend any of my cash/crypto's I'd ask the community for some advice.

Currently I have around ~200LTC and ~5BTC. I'm considering investing these coins into either scrypt asic's such as the Gridseed units or possibly trading.

My question is, if you were in my position how would you endeavor to grow your stash of coins? Do I simply buy more crypto's and hold? Do I spend my current crypto's in ASIC's and hope for the best?

Please let me know your thoughts.

BTC

There are a LOT of people on these boards that regret trading their bitcoins for mining gear in the past, so I definitely wouldn't do that.  It's very easy to lose on mining.

The only people with no regrets are those that bought and held for at least 6 months.  Buy what you can while we are hovering around $500, because history shows that once we pass $1200, we'll most likely never see $500 again.

The miners are only losing because BTC went down to $500. When BTC goes back up to $1200....ASIC scrypt and BTC mining will be very profitable.

Everything is still kinda tied to BTC.

If you got cash just buy LTC and BTC and doge.

If you got some BTC then either hold it or take half if it and buy a some scrypt asics.

I still think gridseeds are over priced compared to the KNC miner mini Titan.

But buying a mini Titan is like going all in.

If you think about it it's a gamble no matter how you play it.

Fuck it! Hold and trade on cryptsy and mintpal. That's the easiest way to grow you BTC/LTC/DOGE

Buying mining gear without first figuring out how much it will earn is a mistake, of course. Just to break even, the equipment must cost less than 6 BTC per TH/s, assuming you start mining immediately.

Trading involves a lot of skill and a lot of luck. If you don't have both of those, you will lose money.


You are confusing gains from holding BTC to gains from mining BTC. The gains from mining BTC are independent of the price of BTC because everything is measured in BTC. Basically, if the equipment (and power) cost more in BTC than the BTC you mine, you are losing money -- regardless of the price of BTC.

Provide liquidity on Bitfinex, lowest risk way I can think of (assuming you trust they won't get hacked/run off).  Do that while you HODL

Curently I'm invested in playt.in (https://playt.in/r/azviwTy3fsU). It's a bitcoin casino and exchange. You can buy bankroll shares. You basically get a daily divedend for your shares depending on the profits the website had. It might take sometime to make a ROI solely by the dividends but you can sell your sales at anytime if all you want is a short term ROI.

Cause that's not a shady site that will soon be "hacked" or anything...

Truth is that they've been around for quite some time now. But the judgment is yours to make.  :)

Thank you for all the replies so far, you lot have given me a ton to think about! :)

With your current stash, you gain nothing by holding bitcoin/litecoin at a lower price then you would sell them.
If you think you will be able to mine the amount you were holding before the coin will hit your desired value, buy mining equipment (almost there on my antiminers  :))
...if you think the coins will increase more then hold them.
...if you buy mining equipment that will never mine what you could have bought with them (getting more stupid gpus  ;D) then your fucked no matter what decision you made. 

Well, definitely buy more coins. This is probably the most effective way to increase your bitcoins stack. Buying ASIC's pays off only after several months and if you get lucky, It could never pay off so buy coins.

I can't suggest any mining gear unless you know what your getting into and have done all the research first and have a great idea of the amount of risk involved.  I'd say hold but I'm sure you've heard that enough.  If your feeling like taking some risk maybe invest an newer coin that you believe has potential.  using the profits you've made thus far.

Charts are suggesting low prices ahead. Don't buy more coins now, wait for a breach of the 480/500. Actually, even keeping these ones is risky.

I sell all my altercoin into blackcoin,I just want to gamble blackcoin.

I would say for the extreme risk, invest in doge or nxt.

if you want medium risk just buy btc.

ASICs for scrypt is probably a better investment. With that being said the difficulty of LTC and other scrypt coins will likely increase dramatically in the near future with ASICs being introduced into the network.

If you are very early into the ASIC market for scrypt then you may make a decent ROI, the question is that are you too late to enter this market? My opinion is yes, it is too late.

My advise is to transact business in BTC (and possibly LTC)