Who is willing to share his thoughts :)

[Lennyyy]

Dear Members,

As somebody that is working on the idea of creating rigs and join the proces of mining cryptocurrency (not only bitcoins) there is something of the whole idea that I dont like, probably I am not looking from the right angle or I have a wrong perspective. I really hope somebody is willing to elaborate his share of thoughts about it. If I havent posted this thread in the right subforum just let me know and I will change it.

Mining cryptocurrency is something that can be done by everbody on this planet that have money and some technical resources and /or knowledge. We are already passed the early adapter stage and it is now just a mather of 'deploying brute force". It is a red sea, sharks fighting with each other for market share. The more resources you have, the better you can compete. Why would it be interesting to join the cryptocurrency mining proces with just a budget of arround 20.000$?

The easy answer would be that it is possible to go for the short term profit. What am I missing in the big picture?

[alc]

What am I missing in the big picture?

A crystal ball. If you find one, let me know; I could do with some extra cash.

(Investing in cryptocurrencies is risky - nobody can tell you whether or not you'll see return on your $20k. Be suspicious of anyone who claims to be onto a sure thing.)

[fendlestick]

With less money you can use strategy to out manoeuvre, mine new coins early, pick dead ones that you think will be re-born, as the ladies say it's not the size of the rig but how you use it. And as above you are very late to mining better to think outside the box to get coins.

[Jarod1231]

With less money you can use strategy to out manoeuvre, mine new coins early, pick dead ones that you think will be re-born, as the ladies say it's not the size of the rig but how you use it. And as above you are very late to mining better to think outside the box to get coins.

This.
You're better off investing a small amount to begin with than straight up dumping 20k into this.
I've only been doing this myself for 3-4 months, but I've only got about $450-500 invested... And I've found it much more profitable to mine altcoins right after they launch and then trade for BTC/LTC than it is to mine the major coins directly

[MisO69]

With less money you can use strategy to out manoeuvre, mine new coins early, pick dead ones that you think will be re-born, as the ladies say it's not the size of the rig but how you use it. And as above you are very late to mining better to think outside the box to get coins.

fendlestick nailed it.

The easy answer would be that it is possible to go for the short term profit.

This is a false assumption, its long term profit at this point. Hold the coins you mine and pay for the electricity with your job.

[pr9me]

With less money you can use strategy to out manoeuvre, mine new coins early, pick dead ones that you think will be re-born, as the ladies say it's not the size of the rig but how you use it. And as above you are very late to mining better to think outside the box to get coins.

LOL this sums it up, and is definitely the best way I have ever heard that put.