What to do with 1 Bitcoin?

[Scrappy Do]

No. If you had 10 Bitcoins I would recommend keeping some (depending on how much money you want to have at least by 2020) and investing the rest in ~5 strong altcoins.

Now, if you had 100 Bitcoins you could start thinking about mining.

BTCMILLIONAIRE,

Regarding 100 Bitcoins, are you talking about economy of scale i.e  I can get better pricing on equipment and bigger facility?

Here is what I don't understand. According to this website, I can get a S9 Antminer with payback period of 137days - https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/. Let's assume the worse case and that the difficulty goes up 2X; hence, I will get my money back in 274 days. After one year, I should have a bit more bitcoin than when I started out assuming no equipment break down, cheap electricity, and etc. In the second year, I should have more bitcoin plus free equipment working for me. Am i missing something?

If, I hold bitcoin, I would have the same number of bitcoin regardless of time.

 You aren't missing a thing at all. No reason to mine. Buy Bitcoin and sit on it. Nothing to see here at all, move along. LOL

 Oh man, these people who just want to be day traders and say there is more in it to sit on it and invest/trade crack me the fuck up!

 You are right man, get your s9 if elec is under .10 and run the shit out of them. I do have a strong feeling new equipment is coming. VERY SOON. But even then, a s9 will make its BTC back given time. Hell I still have s7's up that make a marginal profit!!!!

Scrap'

[conceivedspoon2]

Congratulations bro, what you have in your hand is worth a fortune though but some steps are advisable. What you have will go in no time if you want to start mining due to miners' charges. It is advisable to invest the 1 bitcoin and roll it over until it gets to 10 bitcoin and then you can begin mining to multiply it. Goodluck friend.

[BTCMILLIONAIRE]

No. If you had 10 Bitcoins I would recommend keeping some (depending on how much money you want to have at least by 2020) and investing the rest in ~5 strong altcoins.

Now, if you had 100 Bitcoins you could start thinking about mining.

BTCMILLIONAIRE,

Regarding 100 Bitcoins, are you talking about economy of scale i.e  I can get better pricing on equipment and bigger facility?

Here is what I don't understand. According to this website, I can get a S9 Antminer with payback period of 137days - https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/. Let's assume the worse case and that the difficulty goes up 2X; hence, I will get my money back in 274 days. After one year, I should have a bit more bitcoin than when I started out assuming no equipment break down, cheap electricity, and etc. In the second year, I should have more bitcoin plus free equipment working for me. Am i missing something?

If, I hold bitcoin, I would have the same number of bitcoin regardless of time.

You can factor in economics of scale, but that's not the main point that I'm trying to make.

It's simply not worth it to invest into mining hardware (especially ASICs) for small scale operations due to the low profits. The calculator that you've found only gives you a "ROI" at current prices and current difficulty levels, but this changes against you over time. So in reality you will need longer than 137 days to make your investment back. And that also differs depending on your individual electricity cost. Since the vast majority of mining happens through corporate scale mining operations, the returns get dropped down to a point where they are just barely over the running costs of the operation, which means that profits are incredibly small to none per unit.
Now, if the Bitcoin prices were to rise significantly a lot of additional mining power will be dedicated to it very quickly. This will make it even more difficult for your farm to generate returns.

If you just kept the Bitcoin however, you wouldn't have any of these issues and would end up profiting more. You won't have an ASIC to sell in the case that things go south, but if they do, you won't be able to easily resell your ASIC anyways. Hence, if things go bad for Bitcoin you will lose more money by buying a miner, and if things go well you will earn less by mining.

Bitcoin mining is simply oversaturated and not worth it anymore.

GPU mining on the other hand is still more accessible. Especially if you consider how easily you can resell GPUs to gamers even if the crypto market dies. But even here the same problems exist in terms of profitability. If you want to make more profits, it's best to just stay invested and wait, even if it's boring and a game of patience. Once you've accumulated a significant amount of wealth through your investments (or your job) though, you can consider putting a bulk of your money into GPU mining to secure your money. If the crypto market goes south you will still be able to resell your GPUs in that case, which will lower your losses or even keep you in profits depending on how much money you put where. But for small amounts of money this is just simply a waste of time, stay invested and you'll make several times more than by mining. Mining (with GPUs) is only worth it for the additional security, not for making money.

[BTCMILLIONAIRE]

No. If you had 10 Bitcoins I would recommend keeping some (depending on how much money you want to have at least by 2020) and investing the rest in ~5 strong altcoins.

Now, if you had 100 Bitcoins you could start thinking about mining.

BTCMILLIONAIRE,

Regarding 100 Bitcoins, are you talking about economy of scale i.e  I can get better pricing on equipment and bigger facility?

Here is what I don't understand. According to this website, I can get a S9 Antminer with payback period of 137days - https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/. Let's assume the worse case and that the difficulty goes up 2X; hence, I will get my money back in 274 days. After one year, I should have a bit more bitcoin than when I started out assuming no equipment break down, cheap electricity, and etc. In the second year, I should have more bitcoin plus free equipment working for me. Am i missing something?

If, I hold bitcoin, I would have the same number of bitcoin regardless of time.

 You aren't missing a thing at all. No reason to mine. Buy Bitcoin and sit on it. Nothing to see here at all, move along. LOL

 Oh man, these people who just want to be day traders and say there is more in it to sit on it and invest/trade crack me the fuck up!

 You are right man, get your s9 if elec is under .10 and run the shit out of them. I do have a strong feeling new equipment is coming. VERY SOON. But even then, a s9 will make its BTC back given time. Hell I still have s7's up that make a marginal profit!!!!

Scrap'

I don't trade. Trading is pointless since it triggers taxes at every flip. If you choose to evade taxes you will never be able to use profits, and if you pay taxes it won't be worth your time compared to reaching the relevant holding periods for tax exemptions. But nonetheless, mining is worse than just buying and holding.
If you're extremely risk averse then sure, go ahead and mine. But in that case there are better assets on the stock market.

[Mariasophia]

eu investiria em moedas que podem crescer muito futuramente

[SamsungBitcoin]

No. If you had 10 Bitcoins I would recommend keeping some (depending on how much money you want to have at least by 2020) and investing the rest in ~5 strong altcoins.

Now, if you had 100 Bitcoins you could start thinking about mining.

BTCMILLIONAIRE,

Regarding 100 Bitcoins, are you talking about economy of scale i.e  I can get better pricing on equipment and bigger facility?

Here is what I don't understand. According to this website, I can get a S9 Antminer with payback period of 137days - https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/. Let's assume the worse case and that the difficulty goes up 2X; hence, I will get my money back in 274 days. After one year, I should have a bit more bitcoin than when I started out assuming no equipment break down, cheap electricity, and etc. In the second year, I should have more bitcoin plus free equipment working for me. Am i missing something?

If, I hold bitcoin, I would have the same number of bitcoin regardless of time.

 You aren't missing a thing at all. No reason to mine. Buy Bitcoin and sit on it. Nothing to see here at all, move along. LOL

 Oh man, these people who just want to be day traders and say there is more in it to sit on it and invest/trade crack me the fuck up!

 You are right man, get your s9 if elec is under .10 and run the shit out of them. I do have a strong feeling new equipment is coming. VERY SOON. But even then, a s9 will make its BTC back given time. Hell I still have s7's up that make a marginal profit!!!!

Scrap'

I don't trade. Trading is pointless since it triggers taxes at every flip. If you choose to evade taxes you will never be able to use profits, and if you pay taxes it won't be worth your time compared to reaching the relevant holding periods for tax exemptions. But nonetheless, mining is worse than just buying and holding.
If you're extremely risk averse then sure, go ahead and mine. But in that case there are better assets on the stock market.

Mining is one of the best source of bitcoin and this method is not worst if you have good hardware and can produce good akount of bitcoin everyday which can cover up the tax and electricity rate with excess amount as your income i think much better to buy L3+ antminer and continue to mine bitcoin for your future.

[digger888]

 You are right man, get your s9 if elec is under .10 and run the shit out of them. I do have a strong feeling new equipment is coming. VERY SOON. But even then, a s9 will make its BTC back given time. Hell I still have s7's up that make a marginal profit!!!!

Scrap'

Scrap,

I agree with you regarding new equipment coming out soon. I suspect in 6 to 9 months.

Here is my plan, let me know your thoughts. Wait 6 to 9 month for new S11 Antminer equipment and buy the first batch. Plan A - resell them at a premium. Plan B - if I can not liquidate them, then I can mine with them. The new equipment should be faster and more energy efficient. In 6 to 9 months, I should be able to save up 2-3 bitcoins. So it is a waiting game now. 

[franco123]

If your electricity is cheap then invest on mining. But if not, I think you just hold it for investment. This is because mining has now become more competitive and you need to have an advantage of cheap source of electricity nowadays to be ahead.

And if you just hold it, alot of analyst sees the price of Bitcoin going up to 7000$ by the end of 2017 or early quarter of 2018.

[BTCMILLIONAIRE]

No. If you had 10 Bitcoins I would recommend keeping some (depending on how much money you want to have at least by 2020) and investing the rest in ~5 strong altcoins.

Now, if you had 100 Bitcoins you could start thinking about mining.

BTCMILLIONAIRE,

Regarding 100 Bitcoins, are you talking about economy of scale i.e  I can get better pricing on equipment and bigger facility?

Here is what I don't understand. According to this website, I can get a S9 Antminer with payback period of 137days - https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/. Let's assume the worse case and that the difficulty goes up 2X; hence, I will get my money back in 274 days. After one year, I should have a bit more bitcoin than when I started out assuming no equipment break down, cheap electricity, and etc. In the second year, I should have more bitcoin plus free equipment working for me. Am i missing something?

If, I hold bitcoin, I would have the same number of bitcoin regardless of time.

 You aren't missing a thing at all. No reason to mine. Buy Bitcoin and sit on it. Nothing to see here at all, move along. LOL

 Oh man, these people who just want to be day traders and say there is more in it to sit on it and invest/trade crack me the fuck up!

 You are right man, get your s9 if elec is under .10 and run the shit out of them. I do have a strong feeling new equipment is coming. VERY SOON. But even then, a s9 will make its BTC back given time. Hell I still have s7's up that make a marginal profit!!!!

Scrap'

I don't trade. Trading is pointless since it triggers taxes at every flip. If you choose to evade taxes you will never be able to use profits, and if you pay taxes it won't be worth your time compared to reaching the relevant holding periods for tax exemptions. But nonetheless, mining is worse than just buying and holding.
If you're extremely risk averse then sure, go ahead and mine. But in that case there are better assets on the stock market.

Mining is one of the best source of bitcoin and this method is not worst if you have good hardware and can produce good akount of bitcoin everyday which can cover up the tax and electricity rate with excess amount as your income i think much better to buy L3+ antminer and continue to mine bitcoin for your future.

Did you actually do the Math? It's not worth buying ASICs to mine Bitcoins anymore.

[digger888]

Did you actually do the Math? It's not worth buying ASICs to mine Bitcoins anymore.

BTCMillionaire,

I have done the math and I wanted to confirm my calculation. Here are my advantages:

1) my electricity is $0.04 kwh
2) my city is cold for 7 months out of the year; hence, cooling is free most of the year.
3) where I live, the humidity is quite low; hence, I can use cheap evaporated cooling instead of air conditioning
4) we have low tax here; hence, I will have lower import tax for antminers coming from China

Lets assume that a S11 antminer is $2500 and that I can earn average $15/day => 167 days for breakeven

S9 antminer is $1500 and that I can earn average $8/day => 188 days

BTW, I really appreciated your comments on GPUs mining, I am currently mining with a couple of dozen GPUs. I am thinking of venturing into ASICs mining but am also worry about the collapse of the cryptocurrency market.

[Scrappy Do]

Did you actually do the Math? It's not worth buying ASICs to mine Bitcoins anymore.

BTCMillionaire,

I have done the math and I wanted to confirm my calculation. Here are my advantages:

1) my electricity is $0.04 kwh
2) my city is cold for 7 months out of the year; hence, cooling is free most of the year.
3) where I live, the humidity is quite low; hence, I can use cheap evaporated cooling instead of air conditioning
4) we have low tax here; hence, I will have lower import tax for antminers coming from China

Lets assume that a S11 antminer is $2500 and that I can earn average $15/day => 167 days for breakeven

S9 antminer is $1500 and that I can earn average $8/day => 188 days

BTW, I really appreciated your comments on GPUs mining, I am currently mining with a couple of dozen GPUs. I am thinking of venturing into ASICs mining but am also worry about the collapse of the cryptocurrency market.

 Ignore him Digger. He is a anti-miner troll. Your S9 will bring in 15 a day currently and even at .10 elec, you still get a nice return

Scrap'

[BTCMILLIONAIRE]

Did you actually do the Math? It's not worth buying ASICs to mine Bitcoins anymore.

BTCMillionaire,

I have done the math and I wanted to confirm my calculation. Here are my advantages:

1) my electricity is $0.04 kwh
2) my city is cold for 7 months out of the year; hence, cooling is free most of the year.
3) where I live, the humidity is quite low; hence, I can use cheap evaporated cooling instead of air conditioning
4) we have low tax here; hence, I will have lower import tax for antminers coming from China

Lets assume that a S11 antminer is $2500 and that I can earn average $15/day => 167 days for breakeven

S9 antminer is $1500 and that I can earn average $8/day => 188 days

BTW, I really appreciated your comments on GPUs mining, I am currently mining with a couple of dozen GPUs. I am thinking of venturing into ASICs mining but am also worry about the collapse of the cryptocurrency market.

The thing with Bitcoin mining is that ASICs will be impossible to resell if the crypto market was indeed to crash (which I find unlikely but not impossible).
And due to the age of Bitcoin, the most mining power is centered around it. There are mining farms worth hundreds of millions that are solely dedicated to mining Bitcoins, and those are going to drive the revenue down significantly.
If Bitcoin rises, they are the ones with the needed resources and connections to quickly expand to adjust for the increase in profits. The little miner will only get the left-overs, since the fresh ASICs will go to the corporations first by virtue of sheer purchase volume.

This is completely avoided with GPU mining, so if you're already mining with dozens of GPUs I would probably add more GPUs instead of going ASIC. If I chose to go ASIC I would make sure that I'd have less ASICs (in USD) than GPUs since they are less profitable and more risky.
Considering that you've already got multiple decked out rigs you should be fine with expanding more if you wish to secure more capital by putting it in resellable hardware though, since your electricity is pretty much as cheap as it can get for private use.


Keep in mind that the break-even that you've calculated won't be accurate and will likely be significantly longer though, regardless of whether you calculate ASICs or GPUs.

[nhattori27]

I think trading will be a good option. Mining is not that profitable anymore. As bitcoin price is going up, holding bitcoin is also a good option.

[kosmosevend]

recommend hodl'ing for at least 5-10 years

[rhamzter]

If you have 1 the best you can do is to invest it into multiple altcoins and used it in trading, or else hold it for long run of time. If you do this you can sure win in 1 bitcoin, because if you used it into mining site you can consume a lot of time or else you earn lost due to high amount of electricity. Moreover if you invest it maybe in 1 year your value of bitcoin will become double or triple if the timing of investing is perfect.

[Stedsm]

Say I have one bitcoin today. What should I do with it? Should I get four S9 antminers or three L3+ antminers or combination of them.

Are are some smart options to grow this one bitcoin?
- buy equipment & mine (i have cheap electricity)

Buying equipment to mine Bitcoins is not a bad idea, but even if you have cheap electricity, remember this that you will need few months before you ROI on your investment itself and the increase in difficulty as well as decrease in efficiency of the miner from time to time will slow down on the returns that you will get eventually.

- buy equipment and have Hashnet host them

Can't say anything on this because all such services look more of a ponzi to me even if they had been there for years.

- hodl

Best decision according to me, but will prove better for you if you are interested in fiat gains more than "growing" your coins. Sitting and waiting will nil down on risks of losing your coins.

- invest in LTC instead of BTC

Don't, you might have witnessed the current blood bath but it's not significantly a proof that altcoins will gain immediately after Bitcoin's rally ends.

[vatikan666]

--->  12TKGjQGveCUKwRBNac9FFR1YzqiBiX7yJ

[BTCMILLIONAIRE]

Say I have one bitcoin today. What should I do with it? Should I get four S9 antminers or three L3+ antminers or combination of them.

Are are some smart options to grow this one bitcoin?
- buy equipment & mine (i have cheap electricity)
- buy equipment and have Hashnet host them
- hodl
- invest in LTC instead of BTC

What would you do?

If I had one bitcoin I would probably just keep it unless you can find a solution to kind of always get really cheap electricity and very good cooling in a place that is secure. What do you think?

Just keep or invest. One Bitcoin is not enough to buy any significant amount of mining hardware.

[Scrappy Do]

The thing with Bitcoin mining is that ASICs will be impossible to resell if the crypto market was indeed to crash (which I find unlikely but not impossible).
And due to the age of Bitcoin, the most mining power is centered around it. There are mining farms worth hundreds of millions that are solely dedicated to mining Bitcoins, and those are going to drive the revenue down significantly.
If Bitcoin rises, they are the ones with the needed resources and connections to quickly expand to adjust for the increase in profits. The little miner will only get the left-overs, since the fresh ASICs will go to the corporations first by virtue of sheer purchase volume.

This is completely avoided with GPU mining, so if you're already mining with dozens of GPUs I would probably add more GPUs instead of going ASIC. If I chose to go ASIC I would make sure that I'd have less ASICs (in USD) than GPUs since they are less profitable and more risky.
Considering that you've already got multiple decked out rigs you should be fine with expanding more if you wish to secure more capital by putting it in resellable hardware though, since your electricity is pretty much as cheap as it can get for private use.


Keep in mind that the break-even that you've calculated won't be accurate and will likely be significantly longer though, regardless of whether you calculate ASICs or GPUs.

Agree.

Ok, first off you start with:

The thing with Bitcoin mining is that ASICs will be impossible to resell if the crypto market was indeed to crash (which I find unlikely but not impossible).

 From that point on you have no ground or basis to stand on.

 If said crash happens, it happens to not only miner, but holders, traders, etc., etc.

 Sure us miners have useless machines, but you with your hodl coins have shit too. So now tell me honestly why the fuck you are posting here. If you do not believe in the coin, Why the hell you keep making senseless posts?

 (In Yoda Voice)
 Troll you are, Wisdom you lack.

2.

And due to the age of Bitcoin, the most mining power is centered around it. There are mining farms worth hundreds of millions that are solely dedicated to mining Bitcoins, and those are going to drive the revenue down significantly.

 Because people that pay .09 here in the US making $20 a day off each s9 are not making money....

3.

If Bitcoin rises, they are the ones with the needed resources and connections to quickly expand to adjust for the increase in profits. The little miner will only get the left-overs, since the fresh ASICs will go to the corporations first by virtue of sheer purchase volume.

 Like all the people that have been in the game for years do not continually grow? By your way of thinking its impossible for a person to do anything without tons of money. WRONG. I made $68k in one day when DOGE launched. Dont feed me this bullshit... and yes, I did it GPUs.

4.

This is completely avoided with GPU mining, so if you're already mining with dozens of GPUs I would probably add more GPUs instead of going ASIC. If I chose to go ASIC I would make sure that I'd have less ASICs (in USD) than GPUs since they are less profitable and more risky.

 Really? Can you explain how? Or why? The GPU market is being corrupted more so than the ASIC market if you ask me. Simply check AMD and NVIDIA stocks. They were on a boom, but guess what, they fixing to plummet. They over priced, held back product to milk the fucking system. (Sounds kinda like Bitmain heh?)

 They all fucking do it.

 As Too Short would say.... "Get in where you fit in fool"

Scrap'

[Scrappy Do]

Say I have one bitcoin today. What should I do with it? Should I get four S9 antminers or three L3+ antminers or combination of them.

Are are some smart options to grow this one bitcoin?
- buy equipment & mine (i have cheap electricity)
- buy equipment and have Hashnet host them
- hodl
- invest in LTC instead of BTC

What would you do?

If I had one bitcoin I would probably just keep it unless you can find a solution to kind of always get really cheap electricity and very good cooling in a place that is secure. What do you think?

Just keep or invest. One Bitcoin is not enough to buy any significant amount of mining hardware.

 One makes as much a day as 1000 of them. In fact, 1 makes much more as the infrastructure involved in running 1000 cost MUCH more.

Scrap'