Bitcoin Forum

I have a complete newbie question. I have $1000 to start and I'm looking at these 2 options to purchase Ethereum.

1. Just buy Ethereum at the open market. Price around $300

2. Buying a cloud mining contract from Genesis Mining
- 2 Years Ether Mining
- Price: $869
- $30 MH/s

Help me with the math. What is the best option.

I would just buy ETH from a good exchange. I experimented with a small ETH mining contract with Genesis Mining in summer, and the experience was not good.

If you take 2017 as an example, if you bought any eth or zec ....etc , you would make much more profit than mining , just buy and hold .

buying eth is more convenient and faster than mining
however
if you got 1k usd to invest i'd advice buying soon cuz eth is on a drop for now
"because people are dumping it to buy btc to benefit from the hard fork .. do your research on that"
anyway ETH will rise in about a month to reach a good point

*do some searches before investing hard earned money into crypto currencies and know all the risks involved**

Definitely just go buy some Eth. Don't invest in cloud mining contracts.

While it is certainly possible to potentially profit from them, that likelihood is incredibly low.

Cloud mining contracts are buying under the assumption that profitability will continue to rise while difficult will continue to stagnate. In reality, profitability tends to decline over time as difficult continues to rise over time.

I think the same also. Based from what I was reading regarding cloud mining contracts, whatever they offer is really not true. That you really can't achieve your ROI for a specified time.

So buying eth is more than plausible action, at least you are holding your own money and not the other third party entity that you won't know what will happen to your investment.

I've read about the forking and thought best to stay away until the dust clears but also see the hype about it being "free" money.

I'd buy eth and I'd add some coins with low supply, low unitary cost and high volume.
:-)

Just buy Ethereum. Cloud contracts are dubious and there is a good chance you would not even get your money back with one. If you want to mine you would be better off building your own rig.
For $1,000 you could buy a single Nvidia GTX 1080Ti ($700) and a single Ethereum coin. Put the GPU into your current desktop and you will get more hashrate than the mining contract, plus you would have an Ethereum to hold.

I have a 2 years contract with genesis mining for 1Mhs for me doesnt work i have to wait a year for my first payout and i have a small rig i spend 780$ on 1 rx550 1 rx560 1 rx460, psu, cpu and mtb my reported hashrate with claymore is 32,5Mh/s
I recomend to you if you want mine eth build your own rig

Mining with labtop can be harsh on it .. will get too hot as it's not designed for this kind of load
and also you need vga card with more than 2gb of vram for dag file "the file created by miner" to be on it
go with a desktop its alot better

Cloud mining results in a small return of money. You can make more profit investing, buying ETH and waiting for the right moment to reinvest. It is profitable if you have your mining system for someone's electricity. ETH has the different chain in compare to BTC and it is easier to mine. I don't suggest cloud mining but it is your choice in the end.

Use your $ 1000 to buy.
Purchase, then Hold. is the right step to do right now, given the fluctuations occurring in etheral, etheral has been decreased sharply at this time.

Buy and hold.. Do not waste your money with "mining contracts"... Thy are usually selling low hashpower for high $$...

Buy ETH on exchange, it's going to be less risky with arguably more upside potential if the price and competition increases. The price has been stagnating recently due to the BTC fork but it should rise in the medium term as ETH is used widely for ICO's and smart contracts so there is strong demand outside of raw speculation.

I prefer mining altcoin before i can buy eth