Mining for investment....

[BrownChiLD]

Quick story.. was one of the an early miners back when bitcoin was still a shitcoin, got tired, left the game... only recently regretting it but hey, not too late to get back into the game right?

So, spent the last week researching and getting myself updated... things i learned so far...

Mining with a powerful Gaming rig and 1 or 2 GPUs ain't gonna cut it much these days... and one must either get an ASIC machine or setup a serious GPU mining machine (dedicated) .... like i said, i was one of the early miners who just let an idle PC run all night to mine... and also contribute to SETI cloud computing.. anyway...  Trying to find hardware is a b*tch right now, and prices are bloated due to the mining rush, I think.

Unfortunately, I also learned that CLOUD MINING is a NO GO, mostly scams, or legit but setup to barely make a client profit, if any at all. And personally, I always felt that. Why the heck would companies sell hash power promising customers they can earn, when they can use it to make their own money. If i had a mining farm, i would not rent out hash power, I would use it for myself and mine like crazy!

So that leaves me with 2 options, to which I plan to take both options

OPTION A: Save myself some time and just buy some coins now and hope for the next bull rush..
OPTION B: Sign up for the most legit cloud mining out there to mine some promising shit coins for a few months, collect, and let sleep, and hope next year they make up for something.

So my question to you guys is OPTION B... because after reading a lot about cloud mining, I really can't see myself ROIng fast enough or and earning much on BTC or ETHERs anymore, so what do you guys think about running cloud mining for a while just to collect some cheap, low difficulty, coins now and just save it for later?


Thoughts and tips, are appreciated.

BC

[CryptoResiliance]

Firstly I don't think anyone knows what will happen with bitcoins they have years of 400% growth and years of 80% losses so whether buying bitcoins is a sound investment strategy. you'll find some biased opinions here, but really its a question of risk tolerance and what you want to do.

as for joining a cloud mining op and mining shit coins? fuck that noise if you wanna be a hash nest is almost certainly going to be the most secure cloud mining set up. and they charge double for the asic you want to mine, I don't recommend fucking with cloud mining. that said I have no experience with cloud mining but it doesn't take a genius to see it fucks up ROI vs running an asic.

[BrownChiLD]

Firstly I don't think anyone knows what will happen with bitcoins they have years of 400% growth and years of 80% losses so whether buying bitcoins is a sound investment strategy. you'll find some biased opinions here, but really its a question of risk tolerance and what you want to do.

as for joining a cloud mining op and mining shit coins? fuck that noise if you wanna be a hash nest is almost certainly going to be the most secure cloud mining set up. and they charge double for the asic you want to mine, I don't recommend fucking with cloud mining. that said I have no experience with cloud mining but it doesn't take a genius to see it fucks up ROI vs running an asic.

Thanks for your inputs mate. I do agree to some extent, but i think you missed my point. Im not going to expect to earn from mining activities anymore, it's pretty clear to me and my research that that is a lottery, not a business. My goal here is to mine for a while and gather some coins to hold. My question is really, perhaps there are still uses to cloud mining for "quick mine and hold" operation only, as opposed to putting together a mining rig (which will cost me some valuable time due to the shortages) . anyway just playing with the idea.. but i definitely agree with you, cloud mining for ROI and profit (like running a business) is really stupid given the numbers.

[CryptoResiliance]

Well Im on the cusp of purchasing 4 miners. not cloud mining but basement shit.
What research have you done to help you reach that conclusion that its only a lottery. I would honestly love that maybe you can save me some money.

[adaseb]

Don't do cloud mining... and also don't invest in ETH at these prices. Wait for it to pullback.

Same with BTC, if it goes to like $2000 or $1500 or $1200 buy it there and hold for like 2-3 years.

[jmooney5115]

Well Im on the cusp of purchasing 4 miners. not cloud mining but basement shit.
What research have you done to help you reach that conclusion that its only a lottery. I would honestly love that maybe you can save me some money.

I'd like to know too. After 85 days if the market doesn't dip my rig is paid for. This is a fun to me, though I do hope not to lose money I put into it.

[Marvell1]

Don't do cloud mining... and also don't invest in ETH at these prices. Wait for it to pullback.

Same with BTC, if it goes to like $2000 or $1500 or $1200 buy it there and hold for like 2-3 years.

lol there wont be a major eth pull back worth waiting for dude , with Metropolis comming in aug/sept and all kinds of new EEA news eth will be 600-700 by the end of the year and
mining will be halved with slower block times.  Bitcoin is different story I have no idea where its going from here. 

I would personally not invest heavily in either of those, I'd buy into ICOs or newer lower prices dapps , like BAT, Augur,Golem or SIA,DCR etc the potential gains on those tokens dwarfs anything you will

make holding eth , or BTC

[Vaccinus]

Don't do cloud mining... and also don't invest in ETH at these prices. Wait for it to pullback.

Same with BTC, if it goes to like $2000 or $1500 or $1200 buy it there and hold for like 2-3 years.

i don't think bitcoin will go to 1200 that is too much, maybe 2k, i think 2k is the new bottom already because there is a good resistance there it happened that we did pullback on 2k but it raised again, so it's solid

[BrownChiLD]

.... looks like Litecoin is showing some promising future..

I might grab a short cloud mining contract to mine and hold....

and yes I'd love to put together a mining rig, but by the looks of the current supply , it's so difficult to find proper GPUs for mining at the moment and the prices for RX 470 and 480's have increased ridiculously..

I'm patient, i could wait, but at the way things are going now I feel i need to make a move within the next 2 weeks or get left behind even further ..

hmmm.. fun time we're living in.... 

[CryptoResiliance]

why is everyone focused on gpus, is there some downside to asics im missing.