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Author Topic: What would you do with 1000$?  (Read 1023 times)
Hullabaloo
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May 24, 2013, 09:36:44 PM
 #1

Hey all,

I have a 1000$ 'budget' to invest in BTC/alts.  I already have some mining gear (2.7 Mhs total) and I'm not that great at trading, apparently I can only get coins that immediately go down in value. :!

So if you were in my situation, what would you do with 1000$?  There's just too much stuff to read/learn for me to make timely decisions and I don't want to miss a good opportunity. Can I get into a buying group with that money?  Are there bonds I can buy instead?

What would you do?  Thanks for any advice. Smiley

Tips? BTC: 1PuPCtUt3pmMjbiLTgTKD6G9AkQS3FBUtD            WDC: WPmzeDfXjgoTEztP1rGCe1ZcBLLMJq7yvL
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May 24, 2013, 09:37:29 PM
 #2

Buy 7.5 Bitcoins.
Lohoris
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May 24, 2013, 09:39:24 PM
 #3

Buy bitcoins, and invest half of them in ASICMINER.

Only problem is that currently ASICMINER shares are quite expensive, so you may want to wait 1 or 2 weeks to see if they go down.
Of course, they might go up instead.

That said, I never invested large sums all of a sudden, instead I gradually bought some coins once per month, more or less.

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May 24, 2013, 09:39:40 PM
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Use BTCT-CO (Think NYSE for bitcoin) to invest in ASICMINER-PT.

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May 24, 2013, 10:03:00 PM
 #5

Id go to the casino with $500 and see what I can make with that. Then probably buy some shares or something.

Matthew N. Wright
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May 24, 2013, 10:04:11 PM
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Id go to the casino with $500 and see what I can make with that. Then probably buy some shares or something.

Given the track record of the bitcoin community, those two are not mutually exclusive.

CryptoJunky
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May 24, 2013, 10:14:44 PM
 #7

Hey all,

I have a 1000$ 'budget' to invest in BTC/alts.  I already have some mining gear (2.7 Mhs total) and I'm not that great at trading, apparently I can only get coins that immediately go down in value. :!

So if you were in my situation, what would you do with 1000$?  There's just too much stuff to read/learn for me to make timely decisions and I don't want to miss a good opportunity. Can I get into a buying group with that money?  Are there bonds I can buy instead?

What would you do?  Thanks for any advice. Smiley


I'd invest half directly into Bitcoin. The other half I'd put in slightly riskier Bitcoin investments. Maybe some ASIC miner shares, Bitcoin Global shares, or some Bitcoin mining equipment. Your return probably won't be as good as if you just invested directly into Bitcoin but you would be helping to support the network and the larger Bitcoin economy.

Also, I would suggest against investing into 'alt' coins. With the state of things right now groups are hyping up new coins, then selling once they hit a desired price leaving newcomers holding then worthless coins. If you really want to invest into one of these coins, do your research. Find one that has particularly favorable and inventive attributes. Most importantly, it needs a good development community supporting it. Without that it's probably just a pump and dump coin.


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May 24, 2013, 10:15:27 PM
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Invest in education "Trade crypto currencies"  Wink
Lohoris
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May 24, 2013, 10:33:43 PM
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I'd invest half directly into Bitcoin. The other half I'd put in slightly riskier Bitcoin investments. Maybe some ASIC miner shares, Bitcoin Global shares, or some Bitcoin mining equipment. Your return probably won't be as good as if you just invested directly into Bitcoin
Wrong: if the investment itself is bitcoin-denominated, if BTC appreciates in value, your investment appreciates too.
So you get the dividends on top of the gain from the better exchange rate, at the price of having more risk.

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May 24, 2013, 11:28:00 PM
 #10

$500 in mining equipment, $500 in BTC

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
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May 24, 2013, 11:37:06 PM
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I'd buy a few very old ATi cards, say 5850, and build a farm. Or just invest all money on forex traders. Or, as an option, buy a few bitcoins and 1-2 video cards for mining.

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May 24, 2013, 11:40:01 PM
 #12

Buy two ipad 2s, write an istore mining app, start mining at 2 x .08 Mh/s, spend the rest on beer.
Hullabaloo
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May 25, 2013, 04:12:08 PM
 #13

All sorts of great... hm... advice, guys Smiley

Honestly I expected to be hit with more scams than that! Cheesy

Buy bitcoins, and invest half of them in ASICMINER.

Only problem is that currently ASICMINER shares are quite expensive, so you may want to wait 1 or 2 weeks to see if they go down.
Of course, they might go up instead.

ASICMINER shares (or similar) look like the best bet so far, I will be on the lookout for those. I really appreciate the 'compound interest' possible in reinvesting, probably the only way to offset difficulty increases in most mining operations.

2 chicks at the same time, wait thats 1 mil


Dude, it's much cheaper if you get them from a BTC p2pool!  Also you get some free time while they wait for confirmation.... Wink


I'd invest half directly into Bitcoin. The other half I'd put in slightly riskier Bitcoin investments. Maybe some ASIC miner shares, Bitcoin Global shares, or some Bitcoin mining equipment. Your return probably won't be as good as if you just invested directly into Bitcoin but you would be helping to support the network and the larger Bitcoin economy.

Also, I would suggest against investing into 'alt' coins. With the state of things right now groups are hyping up new coins, then selling once they hit a desired price leaving newcomers holding then worthless coins. If you really want to invest into one of these coins, do your research. Find one that has particularly favorable and inventive attributes. Most importantly, it needs a good development community supporting it. Without that it's probably just a pump and dump coin.



I've been purposely avoiding buying BTC directly.  Not that it's a bad investment, just that I'm a bad investor - I'm just not comfortable risking that kind of sum on trading yet. That's why I prefer bonds or mining, returns are much easier to compute.  Spending 'real' money to buy entirely virtual BTC bumbs into my natural risk aversion!  But I can see the point, if I'd bought 1000$ of BTC yesterday morning, I'd have 1016$ worth today, the same return I'd have in a day from 2000$ worth of mining gear...

So alt coins are right out. Only BTC & LTC for me, till somebody hits the right algorithm (or I code my own)! Smiley I actually mined some TRC and WDC, I think TRC was a fluke (leftover ripples after the adjustment) and I'll probably never sell the WDC at the price it cost to mine it. Live and learn - in small incremental amounts!

Buy two ipad 2s, write an istore mining app, start mining at 2 x .08 Mh/s, spend the rest on beer.

Why TWO ipads?! Although... You just gave me a brilliant idea!



Thanks for the advice people, good to know I'm on track!

Tips? BTC: 1PuPCtUt3pmMjbiLTgTKD6G9AkQS3FBUtD            WDC: WPmzeDfXjgoTEztP1rGCe1ZcBLLMJq7yvL
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May 26, 2013, 12:41:05 PM
 #14

Buy 7.5 Bitcoins.

Indeed  Grin
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May 26, 2013, 12:41:35 PM
 #15

Buy another 7.5BTC or invest in a startup
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May 26, 2013, 12:42:23 PM
 #16

Invest in my game ;P

Andy B

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May 26, 2013, 12:45:31 PM
 #17


So if you were in my situation, what would you do with 1000$? 

Find a girlfriend, have some fun.

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May 26, 2013, 12:46:45 PM
 #18

two chicks at the same time

This post sums up why all this bullshit is a scam
Read It. Hate It. Change the facts that it represents.
https://bitcointalk.org/index.php?topic=1606638.msg16139644#msg16139644
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May 26, 2013, 01:40:02 PM
 #19

better to open any offer site where people will earn mbit coins for doing offers.... and you will earn in $$$$ Wink

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BitCoinNewGuy
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May 26, 2013, 01:41:59 PM
 #20

Go to the bank or local fish market and get $1,000 in nickels, then sort them by date while drinking iced tea.
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