Bitcoin Forum

I put a page together for you newbies that haven't decided whether to buy or mine for bitcoin.

http://startbitcoin.com/mine-or-buy/

Buy, use the referral links in my sig to do so  ;)

You do realize how small 10% of transaction fees are? Probably not enough to troll the forum.

But enough for you to troll with your website which has your referral link to your Tradehill account referral? Ahhh I see..... :) Either way no big deal, I only have 1 Tradehill referral, but I do have 11 to Bitcoin7, and the more people involved in the community the better.

Such a sad thread.

That's a pretty good write up. You forgot to mention the heat and the noise of a mining rig (for small time miners (under 1 gh))

Delete

The best is to mine AND buy ;-)

Mine, then sell expensively and buy cheap and build up a roll to trade with.

If you invest in hardware you'll always have the hardware, if you invest in bitcoin and the value decreases immensely then it'll be worth almost nothing, if you've invested in hardware you either A. have awesome hardware or B. can resell for about a 30% investment loss (compared to up to 100%)

You cant go wrong if you both mine and buy at the same time, gives you the best risk/reward.

At the current price level of over USD 10,- it is better to mine if you can have the room and the possibility to deal with the noise + heat from the mining rigs. (Best if you use the heat to warm your house, not when you have to extra-cool with air-conditioning.)

If you do not have the cash to buy a stack of good GPU cards, you certainly won't have enough cash to buy BTC on a level which makes trading worthwhile.

You could buy small amount of BTC in the hope it will raise in value, if you can transfer your (legal tender) currency cheaply to an exchange. Do count on it though as a pension plan ;)

not again....

i will mine and buy later on


Jen

I agree mining.

buy on an exchange or OTC ?

thank you for posting this.
Very informative for the newbie that I am.
I think I'll stick to buying/trading for now. :)

If you can find someone in person to deal with cash money, then go for it. Otherwise, use an exchange.  Bitcoin7 (http://bitcoinprofits.com/bitcoin7) is looking pretty good right about now.

Thanks mate, this will surely help...

Cheers

I just buy, I don't mine.

Trade it as you normally would as forex or stocks.

If only i have lots of money i will buy, unfortunately i need to mine. dig dig dig....

That's fine if you already have the equipment, or you're grinding until you can get a better GPU. But if you're going to shell out the dough to buy computer parts just to mine, then it's time to consider just buying. :)

obvious answer. buy AND mine.

Or mine :D