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Author Topic: At what point should you consider mining to support your own bitcoin investment?  (Read 719 times)
dancupid
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March 21, 2013, 05:34:57 PM
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Recently I've started to think about buying an ASIC miner, not as an investment, but simply to support the network and help protect the bitcoins I already own.
Is this logical even if I only cover my costs?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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March 21, 2013, 06:03:32 PM
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Recently I've started to think about buying an ASIC miner, not as an investment, but simply to support the network and help protect the bitcoins I already own.
Is this logical even if I only cover my costs?


I think if you can afford it and rationalize it as paying for itself as security as opposed to mining out put, I think this is a good plan.

I use this sort of rational whenever I spend BTC.  I'm supporting the system which, in turn, makes my own investment actually become worth more.

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