tRING TO GET INTO BITCOIN

[ajm8139]

I am trying to get into the bitcoins and am considering purchasing a Antminer VS7.  I am wondering what other costs are there and how I connect the minder to a pool?

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[BTCMILLIONAIRE]

I am trying to get into the bitcoins and am considering purchasing a Antminer VS7.  I am wondering what other costs are there and how I connect the minder to a pool?

The most significant costs when mining are your electricity price. There are calculators for this on Google. The cheapest possible electricity prices are in a range of 3-4 cents per KWH, so if you don't have a similar price, you will most likely lose money when mining.
A single miner will also not make you any considerable amount of profit. Mining is best done as a large-scale operation that seeks to preserve larger quantities of capital. So if you're not going to buy miners for ~50k or more, just forget it, unless you're a tech nerd and just want to try mining out. But in that case I recommend mining other coins, since Bitcoin mining is highly unprofitable due to oversaturation compared to other cryptos.

If you solely care about making money think about investing in cryptos instead. Mining is difficult, expensive and produces comparatively tiny profits.

Shoot away if you have any more questions.

[Vivisector999]

I agree.  If you are just getting into Bitcoins.  Mining is the furthest thing you will want to do.  Trading is where all the money is to be made.  Sure the "idea" of printing your own money seems great.  But when you consider you need to purchase a machine that costs a few thousand dollars, and then watch it sucks down thousands of watts of power and is on 24/7 and throwing heat like crazy to make you $20 a day, and you can see it's not worth it.  To add to it, as more and more people jump in, you actually make less and less so on average if you break even mining you are doing pretty good.

[BitcoinDyno]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

[xskl0]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

If you are talking about long term investments IMO just Bitcoin  and some Bitcoin Cash . Ripple, Ethereum and Dash are more risky but maybe you have good luck

[BTCMILLIONAIRE]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

If you are talking about long term investments IMO just Bitcoin  and some Bitcoin Cash . Ripple, Ethereum and Dash are more risky but maybe you have good luck

I don't get why people recommend Bitcoin Cash. It's risky with low upside potential. If you're going to put any amount in risky coins you might as well go with disruptive projects that could significantly increase in value.

I'd put the bulk in safer coins like Bitcoin and Ethereum, perhaps Neo and Ripple, and the rest in disruptive projects that haven't significantly appreciated yet or that still have huge upside potential.

[Swoshinima]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

I'd spend the major amount on btc, eth, ltc and ripple. You could also invest some of your money in DeepOnion, which is a very promising project.
It's all about anonymity which gets very important these days.

If you want to look it up, just visit deeponion.org or write me.

Btw I'd stay away from bcc, I think this is just for risky investors.

[BTCMILLIONAIRE]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

I'd spend the major amount on btc, eth, ltc and ripple. You could also invest some of your money in DeepOnion, which is a very promising project.
It's all about anonymity which gets very important these days.

If you want to look it up, just visit deeponion.org or write me.

Btw I'd stay away from bcc, I think this is just for risky investors.

Bitcoin Cash is for gamblers, not risky investors. Risky investors would pick an altcoin with disrupting tech instead of an unpopular Bitcoin fork.

[btcmayumana]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

if i were you, i would put on
- bitcoins
- etherum
- ltc
- ripple
- tezos

[BitcoinDyno]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

If you are talking about long term investments IMO just Bitcoin  and some Bitcoin Cash . Ripple, Ethereum and Dash are more risky but maybe you have good luck

Thanks for responding. I bought a Bitcoin in 2014, and only just received my Bitcoin Cash. Like some of the other people who've responded to this question I wasn't sure whether to trade this in for Bitcoin or some other altcoin. I also bought some ripple and ethereum, but am still contemplating where to put a few extra dollars, so thanks for the advice.

[BitcoinDyno]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

If you are talking about long term investments IMO just Bitcoin  and some Bitcoin Cash . Ripple, Ethereum and Dash are more risky but maybe you have good luck

I don't get why people recommend Bitcoin Cash. It's risky with low upside potential. If you're going to put any amount in risky coins you might as well go with disruptive projects that could significantly increase in value.

I'd put the bulk in safer coins like Bitcoin and Ethereum, perhaps Neo and Ripple, and the rest in disruptive projects that haven't significantly appreciated yet or that still have huge upside potential.

Thanks for this. I've already got a Bitcoin and a little Ethereum and Ripple. I wasn't sure about Neo due to the unrest with the Chinese and the uncertainty, but I guess that is maybe the reason why there is room for gains in value if they open everything back up again. I've got a friend who said you can also earn Gas with Neo if you store it as proof of stake, and there are no limits on how much you need to accumulate Gas, but I haven't really investigated this.
Do you have any favourites amongst the disruptive projects you mention?

[BTCMILLIONAIRE]

If you had $5000, what five cryptocurrencies would you invest in? I'm a newbie and would really appreciate some perspectives as There are a lot of opinions out there, and they all seem to conflict.

If you are talking about long term investments IMO just Bitcoin  and some Bitcoin Cash . Ripple, Ethereum and Dash are more risky but maybe you have good luck

I don't get why people recommend Bitcoin Cash. It's risky with low upside potential. If you're going to put any amount in risky coins you might as well go with disruptive projects that could significantly increase in value.

I'd put the bulk in safer coins like Bitcoin and Ethereum, perhaps Neo and Ripple, and the rest in disruptive projects that haven't significantly appreciated yet or that still have huge upside potential.

Thanks for this. I've already got a Bitcoin and a little Ethereum and Ripple. I wasn't sure about Neo due to the unrest with the Chinese and the uncertainty, but I guess that is maybe the reason why there is room for gains in value if they open everything back up again. I've got a friend who said you can also earn Gas with Neo if you store it as proof of stake, and there are no limits on how much you need to accumulate Gas, but I haven't really investigated this.
Do you have any favourites amongst the disruptive projects you mention?

You can indeed earn Gas via PoS with NEO, which appears to be one of its biggest appeals.

I like Blocklancer a lot, which is why I'm in their signature campaign. They properly identified several core issues with the current Freelancing environment, which just so happens to be a gigantic market with enormous upside projections for the future. Millenials care a lot about a healthy work-life balance, which is difficult to achieve in traditional office jobs, so it's not a big surprise that Freelancing is on the rise, despite still being in its infancy. This one is rather straightforward to implement and has a huge potential.

SONM, Golem, XEL and similar "super computer" projects seem very interesting too. They basically eliminate the "waste of resources" introduced through traditional PoW mining which mostly burns electricity, a lot of it. Projects like SONM would turn the mining process into a process of renting out computing power, which would vastly increase the efficiency and utility of PoW blockchains. The demand for computing power is also very large as is and constantly on the rise, mainly due to the increased demand in Machine Learning and AI developments. Difficult to implement, equally massive potential.

Presearch also seems quite interesting, and I think there was one more project with the same or at least a similar idea, but I've forgotten its name. Either way, this one tries to disrupt Google and wants to pay out the revenue that it generates to its users and token holders. Easier than SONM, but harder than Blocklancer to get off the ground. Mostly depends on marketing and a good solution to tackling abuse of the search engine by dishonest profiteers. See Google and similar for market potential.