Bitcoin Forum

How would I start mining I have around $10000 to invest into it and would like some recommendations where to get started.

The mining sub-forum is the place for mining advice.

Bear in mind that buying and holding is generally more profitable than mining.

Your question gets asked several times a week. Basically, my advice is that if you have to ask that question, then you should not spend any money on mining.

Rather than repeating myself, I'll just point you to post by the last person that asked the same question:

https://bitcointalk.org/index.php?topic=743149.0

Yap, buy and hold.

Do math and ROI on machines.  If you are lucky with decent electricity you can pull ROI on machines.

If you have that capital right now I would think about buying BTC .... wait a month or so and hopefully then buy even more mining gear.  BTC right now is at a price great for buyers.

Thanks I guess I'll be buying and holding.

Even with wanting to mine which i do and love, i think you will be happy in 1-2 months when you trade coins for miners.   If it goes how i think you will have a decent percent extra from bitcoin's going up in price once we are through what ever is going on.

You might get one for fun and to play with get familiar with.  It is addictive :) but price of BTC is so attractive its hard to ignore for buyers right now.

Nice decision.
If you are looking for fun, you can buy miners as many as you want. But you shouldn't expect to get profits.

Very wise, but besides I would also bought few GHs from PbMining. Just my opinion.

A few GHs won't do much in today's mining market sadly.

None is the mining right now is profitable, buying BTC directly is a better investment.

don't get into mining you'll probably lose your investment just buy bitcoin or altcoins you can make profit on them.

yeah, buying and holding bitcoins is still better because on mining as the difficulty increases the lower the profit you'll get, and you'll probably wont earn anything.

You don't. Cant get any from mining these days unless you own one million asic machines  :'(

Try to calculate the earnings before start mining. If your electricity cost if cheap, then you may get good profit. If you want to make some profit now, just invest some in Cex.io . Try to sell it when the price increases.

Kindly,
      MZ

yea, calculate first before buying anything, check if you would be able to do profit. even in buying and holding

You have a good amount for mining. So you can start own mining. If you want to start mining with any other pools than i suggest to mine with Genesis-mining. I am miing with them for last two months and the profitability level is good. You can get more information from: https://bitcointalk.org/index.php?topic=602022.new#new

Buy and hold is safer, but mining can earn you more if you time things right.  Not to mention mining makes bitcoin work, so your helping the network.   It's a tough call, depends on your tolerance for risk.   If you do mine, I would suggest you do not buy a pre-order miner, as they come late, under-spec, or never at all.

Buy mining gadget that mine at a higher rate like 30m/s scrypt or 400 gh/s, you will enjoy your mining and quick return on your investments.

The number of miners you have doesn't change your return rate.
So if you are expecting to get loss with buying 1 ASIC, you will get 10000 times more loss for buying 10000 ASICs.

Quick return on your investments? I bet you must have used some very low difficulty increase % in the calculation of your expected return...

You can look around the mining forum on how to get started on mining. 10k worth of mining hardware could give you a good start IMO

I bet he did not even calculate difficulty increasment :)

Invest in KNC Cloud (http://knccloud.com). Its a better thing if you are buying Hashes. It's a new mining farm by KnCMiner situated in Arctic. They offer THs with a 0% fee because of the advantages of the place.

  ~~MZ~~

It is pretty expensive to be honest at $1.79 - $1.99 per TH/s (0.0037 btc - 0.0041 btc per GH/s) even for including all the fees.
If you really want to mine, it is better to buy some latest miners instead IMO.

Mining contracts or mining shares are always a gamble. On the other hand, you don't have to take care of your miner, don't have to pay for the electricity, etc. It's also a good thing that KNC seems to be using renewable energy!

If they don't charge a fee, it is because the price already covers all the costs.

Of course, they just ran the numbers and picked a price that they deem reasonable and profitable for them. It doesn't matter how you split that price up, it's just important that it covers their expenses.

I understand! If what I heard is right, their expenses are much lower than other pools. They are in Arctic, one of the coldest region. It will make their miners cool easier than other people's does. I don't know about the price but I think it is lower than others. You are right anyway, they are making profit from it.

  ~~MZ~~

am a newbie, i think you should buy and hold is more better than mining, my view pleas