LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE

[robotrobert]

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

I will suggest you not to invest all your savings in bitcoin because the price of bitcoin is so volatile and it may dropped to the lowest level and you may lose your investment. Invest some of your savings and keep the rest in your bank accounts for day to day life expenditures so you will be mentally relaxed and when the price grow more and more you can also invest your earnings in bitcoin to increase your profit ratio.

[n691309]

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.

Most people who started out mining and failed are those who really did not do some feasibility studies before venturing into mining. Mining is not for everyone and as much as it pays some people, it does not pay some.

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

[Laland]

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.

Most people who started out mining and failed are those who really did not do some feasibility studies before venturing into mining. Mining is not for everyone and as much as it pays some people, it does not pay some.

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

I failed mining  because of those cloud mining. But if would really invest your own tech to mine, their is a high chance that you would actually get profit than mining or any other investments in the market. You just have find the good coins and the right tech for each of them.

[BitHodler]

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

Nearly everything that people do is based on greed. Important factor is the massive growth of this year, and that's something they try to recreate even at this point.

In order to compensate for not having invested sooner, they will go all in to book larger gains, or at least, that's what they are hoping for. It's basically similar to what happens when people lose with gambling

In order to win back what they lost (in this case earn profits that they missed out on), they go big and bet their entire capital/savings on a potentially good outcome. These people are mentally unstable, and a danger to themselves.

[LuanX3]

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

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[kucritt]

right now ETH mining is not profitable (from the time f ROI and the power consumption) my advice is if you want to miningin cryptocurrencies try to mining monero its a good one and have a shorter ROI than ETHEREUM

[justdimin]

While many investments in crypto currencies were very lucrative the recent years, a part of your life savings should kept safe for bad times. If you live in a country with high electricity costs and warm temperatures and as a newbie I can't recommend to mine ETH or BTH because mining of those are expensive. There are other interesting coins at low prices available with potential high winning percentages if they will succeed, but you have to be cautious and spend some time for reading about the projects and preferably split your investment between several coins.

You really have a lot of point there and most especially trying to invest in some coins that are so undervalued right now with some huge potential to give something big in the long run. It is not all about going all in.

The truth is that for someone who could have just put about 200USD into Ethereum early this year, would have been worth about $9000 just before the end of this year already. It is about being smart and trying as much as possible to diversify into some good projects.

[1Referee]

The truth is that for someone who could have just put about 200USD into Ethereum early this year, would have been worth about $9000 just before the end of this year already. It is about being smart and trying as much as possible to diversify into some good projects.

When it comes to altcoins, things don't only depend on being smart, but also the willingness to take that extra bit of risk. It's no secret that the far majority of the altcoins are blatant copy and paste coins adding absolutely nothing. How do you expect people to diversify in 'good' projects while 95% of the market is filled with these garbage scam coins just thriving on pump and dumps to gain attention. There are just a very few coins that actually solve a problem and at the same time worthy of investing in with a long term perspective.

[Sadlife]

I think it is better for you to just invest your money in bitcoin especially while it is still in a dip this is a good opportunity to buy cheaper bitcoins. If you have 1500 usd then buy bitcoin worth with that then you can just sit back and relax while btc price go up. Where in mining there is a lot of cost like maintenance fee, electricity fee and also your internet bill, mining is really costly.

[syaripudin]

it looks like you're just about to start a mine now instead of wanting to get a considerable profit by buying some hardware for a mine. but if I can advise you if you do not learn it first because I think that what you say seems to be you are about to start this activity so think before you start the activity because it really needs a good experience. I think what you should do right now is investing in bitcoins because I do not think it costs too much as you would buy a tool for mining.

[noormcs5]

I think it is better for you to just invest your money in bitcoin especially while it is still in a dip this is a good opportunity to buy cheaper bitcoins. If you have 1500 usd then buy bitcoin worth with that then you can just sit back and relax while btc price go up. Where in mining there is a lot of cost like maintenance fee, electricity fee and also your internet bill, mining is really costly.

But he choose a right way, now to see the bitcoin price it is continuously go to high. So if he will use his money in bitcoin then i am 100% believe on it that bitcoin never let him down. Although i agree with you, firstly he should use his limited amount in bitcoin and then if he is fully agree on it then sure use his all money on bitcoin.

[d1ceplayer]

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.

Most people who started out mining and failed are those who really did not do some feasibility studies before venturing into mining. Mining is not for everyone and as much as it pays some people, it does not pay some.

Moreover, how will someone put all their savings into an investment they know nothing about because I would not expect OP to be asking this question if he actually knows one or two things about mining. I would rather just take part of it and buy into bitcoin and hold or just learn how to trade instead.

I failed mining  because of those cloud mining. But if would really invest your own tech to mine, their is a high chance that you would actually get profit than mining or any other investments in the market. You just have find the good coins and the right tech for each of them.

Cloud mining is not even the in thing right now and despite all the screams of those who already have the experience for newbies not to go into cloud mining, I still find it amusing that some people really still do anyway.

It is even funnier when you find out that you can make a lot from using that same money to buy the hardware and mine yourself. As long as you are not in control of your investment, it is better to just stay away.

[cabron]

There are a lot of crypto to invest with but I think most will agree not to put all your money in one basket. If this is your life saving, then just put it on your live savings account and just invest some money you can afford to lose in crypto after all you are just new and you may have not learned all yet. I'm sure you have already heard of some scams here and regarding ICOs.

Bitcoin is quite expensive, so maybe you might try other coins which are cheaper yet already are reputable and have proven track.

[laredo7mm]

Diversify your investments in bitcoin and other altcoins like eth, monero or ripple as it will be very risky to invest your money at a single place and when it comes to an investment its not limited only to online world there are many good options in real life too like gold, real estate, stocks etc so you should consider those options too for making an investments.

[Kevin77]

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

There are so many alts that are undervalued right now and only if people can do some research to find them. Waves is one of them and in a short while I won’t be surprised if it ends up having the same boost Ethereum had this year in coming years. Not just waves, there are so many alts and even upcoming ICOs and it is all about being smart.

Like someone rightly tells me, you do not have to work hard; you just have to work smart. I would not consider investing life savings into being smart though as you also have to consider all the risks involved.

[tweetbit]

I think to devide the investment is the best advice anyone can give, I’m a bitcoin users and altcoin believers at the same time. We know how hard to earn bitcoin and the price is so highly to buy some but altcoin is much cheaper and much easier to earn if giving some effort to do so. Take this advice as a reminder that open your mind in every option that is available and don’t look for one but all profitable coins.

[cabron]

Just invest it in crypto, but generally stick to those that are real like bitcoins, ethereum and the like. Don't go spending it on scammy ones that come and go. Stop looking at those fly by night ICOs. Do your due diligence before you even send your life's savings and you lose on that investment. Right now it's pretty hard to determine which investments are pretty good from those shitty ones so just be extremely careful.

There are so many alts that are undervalued right now and only if people can do some research to find them. Waves is one of them and in a short while I won’t be surprised if it ends up having the same boost Ethereum had this year in coming years. Not just waves, there are so many alts and even upcoming ICOs and it is all about being smart.

Like someone rightly tells me, you do not have to work hard; you just have to work smart. I would not consider investing life savings into being smart though as you also have to consider all the risks involved.

I would have to agree its not just those huge altcoins that has the potential, you gotta have the time to research each of them. If you can pick the ones with better project and team, you can exponentially profit than you thought. If I have the money, I probably would buy the cheapest ones but have the best technology. Some of them might just be ADA which I already have some, IOTA and EIDOO a good wallet with their exchange.

[raven7886]

actually you only need to buy new computer with good specification like asrock btc mobo, 4-8 gb of ram, ssd hard drive or physic hardware and I think 1 terabyte is enough, vga card like r9 or high-end vga, pure power supply 1000watt. but unfortunately I don't know how much the price and I think you can visit amazon or ebay to see the price. the important thing vga card hardware you need to buy is the high end hardware because with this hardware you can expecting to mining a lot of coins although to mining bitcoin is really difficult. or if you don't want to get trouble, you only need to buy hardware like D3 or L3 and then you need to connect the hardware with your pc and then the hardware will work by itself.

Buying hardware will do a better work than trying to spend so much getting a PC with a very high configuration. That would be a whole waste of time at the end which would be regretted. Mining these days requires a lot of things to consider, and the most important is the rate of electricity where you are.

Once all this can make mining feasible, then choosing the right hardware for the coin you want to mine is just the best and that can be done from research.

[ahmad21]

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

NO NO a big no. I have been in cryptos from quite some time and all what I have realized so far is that don't put that much in crypto what you can't afford to lose. Whatever we say about crypto they are still full of loopholes and problems. Not free from scams and hacking. There are several other risks too. You can surely buy hardware to mine Ether and bitcoin but don't just blindly spend away all your life savings.