Bitcoin Forum

xx

Well, is that $12K you can afford to loose or is it all the money you have in the world?  Answering that question is a good first place to start.

why mine? why not buy bitcoin and hold tight :)
at least a percentage

Investing in Bitcoins is risky, but there is the possiblity of a high reward.

Investing in Bitcoin mining is more risky and the reward is less.

You can do the math from here.

Yes bitcoin trading or holding long term seems best
Mining or cloud mining is based on difficulty.

Buy BTC for 12.000$ at a site, withdraw them to your wallet, encrypt the wallet, put the wallet on one USB drive, and a backup on 2 other USB drives. Store the USB drives in different locations. Wait...

Avoid mining contracts, in fact, I dare say avoid mining full stop.

You are in a great position to invest in some coin and hold tight. If you are feeling fruity then try trade a few coins on the market, but no further than that.

Wait for a price that you feel comfortable to enter the market at and then go for it and never look back :)

Can someone please explain why bitcoin will get higher.  Everyone seems to think this.  I hope it does as well.

Bitcoin may increase in value if demand exceeds supply and more shops start taking BTC as a method of payment  :)

Buy low, sell high, keep some aside.
rinse, repeat, profit.

I would say invest half in bitcoins and use the other half to build rigs for Scrypt mining (which is still profitable).  This way, you don't put your eggs in one basket. 

I would invest about 25% of that in bitcoins at the current price. Then, look for any drops in price to purchase additional coins. Keep doing this until you are as vested in bitcoins as you want to be. This should give you a lower entry point into bitcoins. Then just sit on those coins.

I've been looking into mining bitcoins but after researching each option, I can't find any way to do it and feel sure of some degree of profit. Here's my take on bitcoin mining:

You have a box that you can put your cash into it and wait a year or two and in all probability, you will have a lot more cash when you open the box. On the other hand, instead of putting the money into the box, you spend all your money on a guy who promises to give you a box a few months from now only all the indications are that this box will have less money in it than the first box.

If the crypto currency community is new to you then the best way to invest your $12,000 is to buy the coin outright. Make the purchase, store is securely, and watch the market as you would a stock.

Mining shares is still a possibility because of the fact that your $12,000 may go a little longer up front; however it goes back to your base knowledge of the community and you are more likely to get suckered going that route (plus there is more management on your part here)

Having your own miners is another option, but to manage that all on your own could become overwhelming, and not everyone is in the business of having hot/loud computers running in their homes (and this is probably the heaviest to manage).

All in all this is just like any other investment in life. The simple fact that you are looking at throwing $12,000 at something shows that you have made wise financial decisions in the past; so keep an open mind and do what feels right.

That's still the same basket.

It seem to be easy  ;D

Try to make a portfolio of different altcoins. Some of them are pretty.

I would buy 5K in bitcoins
2K in litecoins
and buy more 5K in bitcoins then exchange this 5K to--> EAC, DOGE, QRK, NXT, Zetacoin and others who can be really good
but this is me not you ;)

Depends if you want to get your hands dirty mining.

If you want to make bank in the future with little work. Spend all your money on buying BTC.

If you want to get dirty, spend your money on some scrypt rigs, and mine scrypt coins. You get some nice hash with that amount of FIAT.

No mining at all - long term you are better in BTC.

No alt/shit/crap/joke/scam coins - longer term almost all of them will fail.

Just invest in BTC on the dips.

My 0.02 BTC.

almost
im pretty sure Bitcoin will become redundant in some years and a lot of them will take bitcoin place(some years in future not now)
but i see some coins that are now at cents and will worth some $ in near future...

My advice is to invest in 2-3 mining machine and the remaining money in some bitcoins.
With the mining machine you will make some bitcoin and with the other bitocin you will invest in some trading process.

Good Luck !

Just throwing it out there,

You could give me the 12k to build rigs and invest in BTC. I make you FIAT and take a % for doing it.

Just an idea, but no different than giving ur money to a bank or hedge fund.

In terms of return/hour you are much better buying and holding atm imo. Mining research is time consuming and returns aren't what they used to be.

As for buying you can maximize your investment buy picking the cheapest exchange and buying when that exchange is cheapest relative to the other exchanges. I would recommend spreading your investment across the 3 or 4 main cryptocurrencies. These track BTC fairly closely but give you more diversification.

I'd go with 70% BTC, 15%LTC, 15%PPC. You can purchase all of these at BTC-e which is also cheaper on average than the other main exchanges.

Before you buy look at the prices on http://bitcoinity.org/markets and check the other exchanges. If BTC-e is the cheapest then it's a fine time to buy. If not you're better off waiting a day or 2.

Gee, this is such a mind numbing 0.02 BTC  :)

Thanks.

You could mind alt coins and trade them in for BTC, start off with doing your research as far as the hash rate for GPU's in order to mine scrypt coins, SHA256 coins cannot be mined without specific hardware.

no BTC mining,it's equal to working for machine seller and so diffcult to get reward

Don't listen to others, specially for those saying mining is at loss.
They probably run small mining gear, and don't want any competition causing difficulties going up.
Their arguments are half true. It is true that difficulty level is at prohibitively high that miners are in danger of losing money. But how else are you going to get bitcoin? Invest on them and hold on to it for few years? Good advice, but only half truth. If everyone hold on to bitcoin, and do not use them, the function of bitcoin will suffer. This is bad for everyone. Most of bitcoin must be circulated like cash.

• Don't even listen to me, read everything on http://en.wikipedia.org/wiki/Bitcoin including all links in it.
• Follow available standard investment guidelines like from investopedia.com
• Spread your investment. Buy few bitcoins, do some cloudhashing, and mine yourself using some good gear from CoinTerra or KnC.

I personally use cex.io. But their hashing price is about three time more expensive than butterflylab, and a lot more than mining yourself. But I think it's good choice to parallel with other mining options. I currently have 5GHS, and will put two bitcoins in them soon. I'm waiting for coinbase to clear my purchase.
I am also trying to get mining machine from CoinTerra. KnC looks really good, but I live in USA, therefore, I will choose CoinTerra over KnC for various reasons.
 
But again, don't listen to anyone including me. It's your money.

if you are gonna try to trade btc, coinbase wont be of much use, check out btc-e, they have numerous altcoins on there

Actually I think the opposite will happen.  As more shops take BTC directly the price will drop.  The problem right now is hoarding.  When the price increases stop coming there will be some blood letting as the hoarders wake up 2 years later and realized they would have made more money in US Treasuries and then dump.

There is more than enough BTC to supply everyone's needs.  However the US Government is holding the silk road wallet and will eventually dump the silk road coins.  Eventually PirateBryan may want to spend his BTC as well.  That would free up substantial liquidity.

Still BTC will have it's ups and downs.  I would not be shocked to see $10k/BTC by the end of 2014.

Buy bitcoins tomorrow (700$) , sell them after 12th of february (1238$ they say  :)  ). Profit. Then think again what to do with your 20k$.

This is actually a real issue.  I invested in BTC a long time ago.  When it gets higher I sell a few.  Now I got all these stupid USD so what do I do with them?  Put them in the stock market?  Government paper?  Corporate paper?  Money market?

So I put them back in BTC (on the dips)!