Bitcoin Forum

Can u help me with advice, i have 7000$ for investion, do i invest in mining rig for litecoin or some hardware for bitcoin? Your advice?

The word is "investing" or "investment".

I don't know very much about Bitcoin mining but what I have read is that $7k probably isn't enough and anyway there are limited suppliers of competitive ASICs.

You may be better off mining Litecoin.

You may still be better off just buying Bitcoin or Litecoin and selling it for more.

Ask in the mining forum.

Buy some coins and hold on to them.
When the price rises sell a portion of them (enough to break even and make a bit of profit) and keep some for when the price gets even higher.
If the price drops along the way, then use the money you got when you sold some to buy some more coins.
And when the price raises sell....

And so on, and so on........

Forget about mining! Just buy bitcoin for the long invesment.

buy a scrypt asic，once you done your homework on mining。

Buy core position in Bitcoin
ASIC hardware to mine select alts maybe

I am a newbie too.... I have bought some 10.4btc for 500USD and now the price is 455USD per bitcoin....

At the beginning of this year when bitcoin was near a thousand dollars, it barely looked like any mining equipment would scrape back it's cost in bitcoin. 4 months later and with a great increase in difficulty, expectations have halved... So basically, for bitcoin mining equipment you might only expect to see 4 or 5 coins out of it ever, with what you could get for $7000....

The scrypt mining scene is highly volatile, you have to remember it was formed by people who were virulently "anti-ASIC" in the first place, so they could completely abandon and cease support for these coins when ASICs take over. Ergo, while one could hope for the same situation as occurred in BTC, that the coin prices increase dramatically as the ASICs push the difficulty sky high, there is a risk that things could collapse instead. While bitcoin may be seen as "irreplaceable" the altcoins may be seen as "interchangable".

Anyway, with the price of a bitcoin being an absolute bargain at the moment, and the upside this year projected as a minimum of 400% by long term trend analysis, the smart option at the moment is just to buy bitcoin and hold it.

Hmm, I am not sure I would call that a "smart" option! Words I would prefer to use would include "visionary", "optimistic" and "risky".

Don't get me wrong, I love Bitcoin and think the blockchain is one of the most important innovations of the last 20 years. I have about 50% of my liquid savings in Bitcoin by today's prices. But I got there by holding on to coins I bought cheap for little risk, not by spending literally 50% of my savings on coins now.

I don't think you can ignore the fact that the last four months have seen a continual down-swing. It may never be recovered from. as much as we all hope it will be.

To me, a "smart" investment is one with very little risk. When I talk about Bitcoin people sometimes say things like, "I wish I'd listened when you were talking about this in 2010. You made a killing. That was a really smart investment."

Well, no! That was a lucky investment in my opinion. And also a very small one (so, small risk) that just happened to turn out big. If I thought it was in any way smart then I would be kicking myself for being so stupid as to not put everything I had into it, and have it turn out much bigger. I'm not kicking myself, because I'm not into taking that much risk.

Investing in Bitcoin is really risky. Don't spend what you can't afford to lose. Don't spend what you can't afford to hold for potentially years. If you can't afford to lose it, put it in something that doesn't risk your stake. Yes, the return will be pitiful.

For every person who reads this and thinks, "he isn't a true believer, he's an idiot who will be living in the gutter when the fiat economy collapses and Bitcoin has gone to the moon!" I'm sure there will be at least one other person thinking, "I wish I had not put my entire life savings into Bitcoin when it was >$800, I need the money back now and will have to sell at a loss"

So, you know, whatever you do, be prudent!

Yes if this is your "rainy day and emergencies" slush fund rather than "money I can afford to ignore for months" don't put it in bitcoin, altcoin or mining equipment if when you need it, you need it NOW and may have to sell at a loss.

But those who are patient who even bought in early January this year should eventually see a profit.

Don't invest in either mining equipment or hardware. Just buy some coins instead.

And it is still better than buying mining equipment IMO.
You can check a profit calculator to see how many (expected) bitcoin will the equipment generate for you.

Very much agree with you.
Investing in bitcoin is really risky, and we have seen the price going from ~$200 on Nov 1 to over $1000 on Dec 1 and then to ~$600 in mid Dec.

So, please don't invest more than you can lose. Don't borrow money to invest in bitcoin and don't put all your life saving into bitcoin.

Buy and hold.  Mining will not see ROI for some time.

this is the smartest you can do.
yet, don't invest more than 15% of your savings in bitcoin.
assuming you can afford to lose those $7000 if things go bad.
everyone can say what they want, but nobody knows about tomorrow, and even if I believe that the price will go down again in early june, after that has everything to raise quite a lot later in the year.
still, bitcoin investments are very risky, some events can happen that would lead back its value close to zero. we hope not.

diversify

don't invest everything in one thing

my suggestion is

50% buy bitcoins and hold

10% dogecoin

10% other alt coins

30% for mining equipment if you have free electricity

My advice is simple, since most replies here will be to do this and that.

You need to know the price point of this bitcoin thing, then figure a common sense price for yourself to buy.

At the set period of times you bought it and see if you see growth and invest more into.

Keep in mind though its simply a gamble, but I`m just going to assume its $7k of play money that your willing to lose.

Conclusion: $7,000 at $200 per bitcoin or anything below $400 is good enough.

Buy the real thing (Bitcoin) directly with the vast majority if not all of the money you have available for crypto in your investment portfolio. If you want to diversify to altcoins I'd stick with LTC and PPC, and avoid the worthless coins (such as Dogecoin).

PS: investion made me chuckle :)

Its pretty cut clear at this point.

Since no one saw the value in it when it was literally breaking $100.

Just buy bitcoin. If you are mining that means your willing to lose a lot more fiat money and can afford it.

Just invest in bitcoin business and get profit, mining is not profitable anymore.

What kind of business are you talking about? Dice sites like just-dice?

Mining is a difficulty game, and you can hardly make any profit. It is better to buy bitcoin or litecoin with your money.

i think buying bitcoin directly is better. Try to buy at around $400/btc.

How much do you wish to pay for the advice? :D

You should listen to this person.

Anyone whos telling you to buy, is from a position from experience of mining before it all crazy high with difficulty.

are you sure you want to invest $7000 in bitcoin?  If so, IDK if mining is the best way to go...  perhaps play around and make some smart investments would be my plan.

Another option would be keeping that money in fiat. :)

It is better and safer to buy bitcoin or litecoin. Forget about mining and forget about altcoin clones.

All people are saying "long" time ago that buying Bitcoins for your investment is the best you can do. So buy bitcoins for you $7000.

 this lol i was like wtf is investion like some sort of digestion of a bitcoin investment lol. but yeah the word is investment and i would invest in vrt coin at the moment or even doge coin

Why not do a coin-investor , seems you just want to invest in mining.
$7000 means a lot to a lot of coins.
You can control the market !

Thats a lot of money, u can get a decent bitcoin btc miner with that. U should find the best bitcoin miners to buy using a good profit calculator like bitcoinx.com to determine how long u need to use to get in profit

$7000 sounds a lot, but you can't control the bitcoin or litecoin market with that.

I am afraid buying bitcoin miners are not really profitable now, unless you have very cheap electricity price and the difficulty increase at slower pace.

Please link us the details of mining hardware available for $7k or under for delivery now, so we can determine how much profit OP could make at various example electricity costs.

I ask because everything I have read from people who actually mine say that it's getting harder and harder to turn a profit.

Some people like me need a little more nudge, so please be considerate.

I`m glad I found this thread cause even with $200 I can have some sense.

Agree with the majority here, you should buy bitcoin instead of mining hardware.
You can hold your bitcoin, or invest them in bankroll of casinos. :D