Title: If you had 10K to invest would you mine Bitcoin? Post by: blazeman on December 15, 2014, 02:17:08 AM End of the year, have about 10K to invest in equipment. What would you do?
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Syke on December 15, 2014, 03:10:09 AM End of the year, have about 10K to invest in equipment. What would you do? Buy some bitcoins. They're at a really good price right now. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: mwizard on December 15, 2014, 04:15:32 AM If my electricity cost under about $0.12 USD per kWh including taxes etc I would consider mining bitcoin.
If my electricity was much more expensive than that I would steer well clear of mining. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: ChuckBuck on December 15, 2014, 06:08:13 PM Just buy and HODL Bitcoin.
Sit this one out, wait until the next generation of miners are out, then if price, efficiency, coin price all align favorably, then maybe decide to jump into it. Simply isn't worth it or profitable at the moment. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: notlist3d on December 15, 2014, 07:41:24 PM What is your electricity cost?
Also you need to know power how much you have, and how many circuits. During summer count on a AC bill and doing less gear. In winter if lucky have free/cheap cool air and can use it. So main things you need to know electricity cost, amount of electricity, and heat removal. This will help see how ROI will go. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: ajw7989 on December 15, 2014, 09:01:10 PM Mining if equipment is bought at a good price as well as cheap electricity rates can be profitable now since difficulty has plateau and is on the slight decline. Cloud mining is also an option.
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: DirTdel on December 20, 2014, 09:09:21 PM I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents.
How much does these power rates effect the economics? Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Biodom on December 21, 2014, 03:39:31 AM I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents. How much does these power rates effect the economics? How much-this together with miner reliability and price is THE most crucial thing and you are lucky to have these rates, pal. Slightly overclocked antminer S3 produces ~$55 BTC equivalent/mo at current BTC prices, but at 4c would use just ~$11.4 of electricity/mo (and $4.3 if at 1.5c) SP31 from Spondoolies would produce ~$550 and use ~$84 at 4c and ~$32 at 1.5c Still, you would have to run it >6mo to make profit because the machine ain't cheap. SP20 would produce ~$189/mo use $35/mo at 4c and running full blast at 1.2kw Still would take >6mo to profit. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Jackson86 on December 21, 2014, 03:41:33 AM i will buy some nxt if i had 10k
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Sem on December 21, 2014, 11:09:25 PM I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents. How much does these power rates effect the economics? Where the electricity is soooo cheap? Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: zlatanBorec on December 22, 2014, 09:47:51 AM If my electricity cost under about $0.12 USD per kWh including taxes etc I would consider mining bitcoin. If my electricity was much more expensive than that I would steer well clear of mining. this could be a good moment to begin to play!!! but just because diff seems to go down.. and i do not know if this is a good think for the future of bitcoin value!!! next weeks will be fundamental to understand... Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: cakir on December 22, 2014, 10:06:45 AM I would of course.
Remember; bitcoin equipment isn't just mining bitcoin. I would follow newly created sha256 algo coins and dump'em when hits exchange which is really profitable. Remember XPY, if you catch those opportunities your ROI would be less then 1 month... Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: viboracecata on December 22, 2014, 10:11:46 AM For current price, I would answer you buy btc is the best choice
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: MarketNeutral on December 22, 2014, 02:15:53 PM Wait a little until I unveil the next generation of mining equipment. Seriously.
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: sumantso on December 22, 2014, 03:31:59 PM End of the year, have about 10K to invest in equipment. What would you do? I would buy Bitcoins. Personally I would buy a different coin, but this is not the segment to post that. Between mining equipment and Bitcoin I would go Bitcoin. Its on a downtrend so you may get much lower prices soon, so buy in slowly and not all at once. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: spazzdla on December 22, 2014, 09:14:10 PM Nope.
$1k for a hobby but odds are you will not ROI. So to answer your question, no. I would consider buying oil TBH. I see oil offering a 100-200% return in several years. I would hold out until $40ish a barrel though. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Argwai96 on December 26, 2014, 07:17:34 AM I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents. How much does these power rates effect the economics? Where the electricity is soooo cheap? The national average cost of electricity is ~$0.12 per kwh, and the lowest I have ever seen is ~$0.06 per kwh Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: ChuckBuck on December 26, 2014, 03:42:31 PM I'm also considering investing in mining equipment. My local power company has one of the lowest power rates in the US. My residential rates is 4 cents per kW/hr. The data center rate is is under 1.5 cents. How much does these power rates effect the economics? Where the electricity is soooo cheap? The national average cost of electricity is ~$0.12 per kwh, and the lowest I have ever seen is ~$0.06 per kwh Yup. Definitely no where near the mark posted by DirTdel, very dubious at best. Here's the actual pricing nationwide of electrical in the U.S.: http://www.eia.gov/electricity/monthly/epm_table_grapher.cfm?t=epmt_5_6_a As you can see under "Commercial", there's no where in the column that shows $0.04 kW/hour. I'm pretty sure no one here has access to industrial facilities, that would require a multi million dollar investment or some kick ass deal in a gigantic warehouse in Washington State like Mega Big Power. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: darkmind on December 27, 2014, 01:11:53 AM If I had 10k to invest then I'd buy more bitcoins. No more mining equipment investment.
I have been mining for a year now, it's just waste of money because I have to continue upgrading to keep my speeds relevant. and miner get outdated so fast. It's crazy, hash raised a lot faster than expected Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: DirTdel on December 27, 2014, 05:00:10 PM Some of you don't believe what I posted about my power rate. If you don't believe me, Google Grant County PUD power rates. You will find your talking out your ass. Our most expensive rate is residential at 4.3 cents. You wonder why data farms and the new big mining facilities are in Cental Wasgington? Their power rates are around 1.5 cents.
Chelan county PUD, Douglas county PUD, Grant county PUD have the cheapest power rates in the US. This is where Microsoft, intuit, dell, yahoo and others have massive data centers. This is where megabigpower is located. This is where asicspac's new facility is. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: DirTdel on December 27, 2014, 05:23:29 PM http://www.datacenterknowledge.com/archives/2014/11
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: Nerazzura on December 27, 2014, 05:31:12 PM End of the year, have about 10K to invest in equipment. What would you do? I will use it as capital to play trading. I started liking for it, and until now I enjoy Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: arieq on December 28, 2014, 12:42:26 AM I will split the money into some investments, put half in bitcoin / alt coins trading, and the rest to buy some cloud mining contracts. I will never invest them in mining hardware, never !
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: ProudMiner on January 09, 2015, 04:13:48 PM I would buy bitcoins, the current price is below 300$, just buy them and you can sell them when the price goes up.
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: NeuroticFish on January 09, 2015, 04:22:23 PM Mining altcoins or day trading is more profitable than mining bitcoin imho.
Obviously, for altcoins the problem is that you'll have to adapt to new algos from time to time, so ASIC is not a good option. Mining is by far the most profitable for hardware vendors. I'd advice against buying dedicated hardware. Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: nwfella on January 09, 2015, 07:18:32 PM Throwing $10,000 into mining hardware at this point in time is just crazy talk! If your really wanting to risk that kind of money your probably just better off buying and holding but even that is pretty risky at this point imho.
Title: Re: If you had 10K to invest would you mine Bitcoin? Post by: randy8777 on January 10, 2015, 05:29:55 PM i would just use the 10k$ to buy bitcoins instead of investing in mining hardware.
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