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Author Topic: LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE  (Read 771 times)
moeowaynat
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November 14, 2017, 07:13:15 AM
 #1

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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November 14, 2017, 08:59:13 AM
 #2

Friendly advise.
Never go full retard.
which means- never invest everything you have.

Eth mining currently has a long ROI. bitcoin mining- S9 costs around 1500 usd from the manufacturer. also dont forget to factor in your power costs..
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November 14, 2017, 10:50:27 AM
 #3

I strongly advise not to go "all in"

if you can comfortably afforded one miner for one coin, and have some left over as long as you have cheep power and reliable internet, then maybe consider it.

other than that I could not offer better advice than buy some btc and sit on it! no running costs and if you can sit out the roller coaster of a price ride, it will eventually pay off.


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November 14, 2017, 11:36:27 AM
 #4

everyone will tell you dont go "all in" even if you have cheap power and all the other variables stay the same your looking at a 4 years to cut even, but lets say the market becomes a huge down turn, you will never see a break even point.

I sell small amounts of BTC for PayPal msg me for details and spot rate
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November 14, 2017, 01:12:25 PM
 #5

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley



What the hell have you been researching if you do not have the answer to these basic questions?

If you are seriously suggesting you will invest everything, maybe you continue your research

Made you look!
AU_AG
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November 14, 2017, 01:16:08 PM
 #6

Investing is not for you. But just buy a coin with 30% of your total money ( privacy coin, ltc, btc when if corrects)and wait 3yr. Not sexy but atleast u wont go broke. And u will make some money maybe even rich if u pick the right coin.

Good luck
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November 14, 2017, 03:06:57 PM
 #7

Friendly advise.
Never go full retard.
which means- never invest everything you have.

This....

Go Big or Go Home.
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November 14, 2017, 06:27:28 PM
 #8

Friendly advise.
Never go full retard.
which means- never invest everything you have.

This....


I found this hilarious when your signature says 'go big or go home'.

But yea man, in my opinion, mining has never let me down, but you have to BE SMART about it. Don't get crazy at first, grow over time, buy and sell coins too with the coins you mine, make more. Be Smart.



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November 14, 2017, 07:23:22 PM
 #9

Friendly advise.
Never go full retard.
which means- never invest everything you have.

This....


I found this hilarious when your signature says 'go big or go home'.

But yea man, in my opinion, mining has never let me down, but you have to BE SMART about it. Don't get crazy at first, grow over time, buy and sell coins too with the coins you mine, make more. Be Smart.

"Go big or go home.." does not mean act stupid.  Cheesy

If you have $20K to your name, don't risk it all.
But If you have $200K, it makes sense to risk $150K of it as you still have 25% left in case you go belly up.

Go Big or Go Home.
TunerDude007
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November 14, 2017, 08:16:46 PM
 #10

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley

Where are you located? If your in Canada I can provide personal assistance. I have helped many get started, within a safe budget of course.
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November 14, 2017, 08:21:41 PM
 #11

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley

If you are really serious to risks your life savings then start a business that can give you continous earnings on regular basis that will take you on long term. Earned and saved money to the point that you have an extra ammos for misc things.

Consider entering mining world once you are sure now that even you will loss on mining, you still have other sources. It's a bit of a suicide if you will invest your savings to the things you are dumb about.

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November 14, 2017, 09:07:23 PM
 #12

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley

Why not do more research into stocks and put your money into there? If I was working with my life savings, I would want to put my money into a system with less volatility. Bitcoin and altcoins are fairly volatile; they're not a game to be playing around with when you put the upwards of your life savings into. If you do some good research into stocks, you might be able to make a safer long term profit.

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November 14, 2017, 09:52:35 PM
 #13

Invest only you can afford to lose because many people want to mine are failed because we don't know how mining will run .
Make a research what miner is good for ethereum and bitcoin because I cant start mining when Started in bitcoin world.

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November 14, 2017, 11:52:57 PM
 #14

Friendly advise.
Never go full retard.
which means- never invest everything you have.

Eth mining currently has a long ROI. bitcoin mining- S9 costs around 1500 usd from the manufacturer. also dont forget to factor in your power costs..
investing equally by giving up what we have,
we should not be willing to make an investment if we can not let the money disappear.
because investment is the same as gambling.
if we do not choose wrong profits will be ours
but this could be otherwise


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The Pharmacist
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November 15, 2017, 12:02:45 AM
 #15

Friendly advise.
Never go full retard.
Ditto.

There was just a thread by some dude who stated that he was contemplating ending his life over a scam transaction that was less than a whole BTC.  And the first thing I thought was that this lying, attention-seeking cretin had invested way more money than he should have.  Anyone giving financial advice would tell you that if you don't have any savings and/or are living paycheck to paycheck, you shouldn't be making investments.  Especially not in something as volatile as bitcoin, because you'll be vomiting if the market crashes 50% or more in a single day.  Sane people wouldn't be able to handle that. 

So either start small or wait until you have about 6 months' living expenses saved up before investing in crypto.  Definitely don't go all-in.  That would be bad for anyone, even people with significant sums of money.  Yes, a lot of people have made money in the past 8 years with bitcoin, but there are no guarantees.

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November 15, 2017, 06:34:10 AM
 #16

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley

Hi TS, I think you should go around the forum first and read from the popular topics about mining and trading as cryptocurrency is too complex, many ways to earm and many ways to lose. For me it is very risky to put all your hard earned money in one basket. In investing, you should always keep in mind that you only invest what you can afford to lose. I personally believe that gpu mining has the least chance of losing all your investment as long as you bought the right hardware, like gpu for instance because you can always sell them as a secondhand item if ever you want to quit mining. Crypto currency is volatile, 1 day it is up 10% the next day its 30% down. Research on what field you want to try and set the price you can afford to lose.Best of luck.

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November 15, 2017, 06:53:40 AM
 #17

Mining with bitcoin hardware has gone farthest from profiting, however ethereum mining is still somewhat profitable.
Before buying gpu rigs for ethereum and altcoin mining process, you should know if it id worth investing for you by comparing charges like electricity, hardware price etc.
Some countries have to pay high electricity fee and later it come to know that Roi is worthless.

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November 15, 2017, 08:36:19 AM
 #18

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley
If you want to invest your life savings dont loose it all invest what you can afford to loose,or maybe you can start a business atleast its risky in loosing all your money.Remember that having a saving with all your life is not easy you need to work hard to save the money you have now.

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November 15, 2017, 12:34:26 PM
 #19

Investimg all your life savings is not really a good idea, because it will take sometimes for your investment to multiply and if things go wrong, you will definitely not anything to fall back on, and that's messy. Try to compare the costs of rigs, hardware and electricity and also other overhead costs.


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noormcs5
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November 15, 2017, 01:02:01 PM
 #20

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you
Smiley

I give you advice that you are using your life time saving, that's why i feel afraid for you, because it is your life time hardworking earning, so better for you, use your little money in bitcoin and if you see that you are able and have skills to earn from bitcoin, then invest your more money in it. Actually, i want to say that not every one could handle bitcoin easily, that's why if you are first time doing investment in bitcoin then don't invest your all life time saving. But you choose a right way to invest your money in bitcoin, now it is depend on you. 

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