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Author Topic: Allow me to post please + How would you convince your wife?  (Read 747 times)
Android_Bitcoiner
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June 17, 2011, 03:34:14 PM
 #1

Greetings,
First, I'd like to be able to post on the main board.

Second,
I've done the math, researched the hardware, and figured an initial cost for setting up a bitcoin mining rig running something
like two 5850's. Even with a market dip in the near future, which is likely considering the media attention and other folks like
me who want in on the current land grab, I'm relatively certain I can break even in something like 50-60 days.


Here's the question:
  -How do I explain all this to my wife? If she sees 600 dollars worth of computer equipment shipped to the front door, I'm a dead man hands down.

  Anyone else out there considering pitching this investment idea to their significant other?

Happy Mining!


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Alex Beckenham
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June 17, 2011, 03:38:23 PM
 #2

Can't help sorry... investing in bitcoin was my wife's idea.

perfectchoice4u
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June 17, 2011, 03:45:07 PM
 #3

Be a man, and buy it. You have to do whats best for your family as you see fit. Your grandfather would have, and he he wouldn't I'm sure his dad would have.

if you don't feel you can go against the wishes of your master, then realize its easier to ask forgiveness than permission, and take that more political approach
shackra
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June 17, 2011, 03:56:06 PM
 #4

Be a man, buy it and resist the consecuences... If you got the enough money for all equip, no problem, but if you have to ask money to a bank, better talk to her :-|. Show all the available material about bitcoin! Smiley

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lmlbs
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June 17, 2011, 04:28:36 PM
 #5


Second,
I've done the math, researched the hardware, and figured an initial cost for setting up a bitcoin mining rig running something
like two 5850's. Even with a market dip in the near future, which is likely considering the media attention and other folks like
me who want in on the current land grab, I'm relatively certain I can break even in something like 50-60 days.


Here's the question:
  -How do I explain all this to my wife? If she sees 600 dollars worth of computer equipment shipped to the front door, I'm a dead man hands down.

  Anyone else out there considering pitching this investment idea to their significant other?

Happy Mining!


How funny, I got EXACLY the same situation, but I was able to find 5850 at about $140, so I've bought 1 pcs and ordered 3 more. I just explained to my wife, that we can make fortunes, and the very worst case, we'll end up with decent gaming cards on our hands that we can eventually sell, keeping in mind USD weakness it's not a bad idea to turn some cash into something more solid.

Bingo. Now building 1st system and when it gets running I will get 3 more

Another calculation goes like that - say calculate your electricity costs to produce one block (there is calculator on the internet that allows to estimate Bitcoin mining profitability), then calculate how low BTC has to be to make mining lose money. For me it's like $2/BTC. Well, since it's at $15 now it's not very likely that it will go lower then $2, therefore we'll either be making tons of money, or just break even in 6 months. And will get 4 very decent video cards on top of that.

JoeJG
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June 17, 2011, 04:33:11 PM
 #6

Invest in a PO Box and get it delivered there, or have a friend take the delivery.  Lies are OK when you are investing in your future Smiley
Auspician
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June 17, 2011, 04:37:55 PM
 #7

Wow, it seems this forum is full of lots of good BTC advice, but not so much on relationship advice.  When I wanted to drop $600 on hardware, I simply did the math based upon my research of estimated hashes and historical payout figuring in increasing difficulty and told my wife that by spending $600 I could reliably make $10-$15 a day or more.  And, as an added bonus, if I didn't make that much then I could always sell the cards for 80% or so of what I paid for them.

She could have objected, but she didn't.  I'd been talking about BTCs for a few weeks with her at that point already, so she saw the value.  In about a month we're planning on putting together a new rig for her to mine BTCs too!
perfectchoice4u
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June 17, 2011, 04:43:47 PM
 #8

Look the way I see it is this when it comes to bitcoins.

When you look at what your investing in hardware, it seems your looking at a 2 month, 8 week ROI (return on investment)

That being said, there's 2 ways of looking at that. You can think, "well I'll break even after 2 months and then make money"

or

"For every amount of money I spend, I'm going to be getting 13% back every week for an indefinite period of time which i hope is longer than 9 weeks"

Meaning that for every $10,000 you spend, you will make $1300 a week every week thereafter. This is based upon a $15 bitcoin

So if you have $40,000 to spend, you can net yourself a nice $5k a week, and after 2 months, make $20k+ a month free and clear.

In fact, the dark side to that equation is that's the way it is right now, and we know it will NOT always be that way. So if things peter out in say 6 months (about 24 weeks), and you waited 2 months to start, well your only getting 4 months of the good 20k earnings instead of the 6 total months you could have gotten. So because there is a finite timeline, the longer you wait being the less you get, your screwing your self out of $20k a month every month you wait, assuming u ever do it at all.

Now whatever your number is u think you will get to, your basically losing those earning every minute u can get going but don't. Because we know that "somewhere" there's a floor. So if u think u will get to 20k worth of equipment, or 10k or 100k, doesn't matter, just realize that.
drknark
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June 17, 2011, 05:11:02 PM
 #9

 -How do I explain all this to my wife? If she sees 600 dollars worth of computer equipment shipped to the front door, I'm a dead man hands down.

If you have a hard time justifying a $600 expense, then I guess it's a tight fit with your disposable income (you don't have to answer this, I know some people don't like to talk about their income)? In that case, I would recommend not getting the stuff. Only spend what you can afford to lose, you have to assume the worst (bitcoin crashes, everyone floods the market with ATI cards and their value plummets).

Personally I only invested my tax returns, which I felt was "extra money" anyway.
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