$1,500 to spend - buy btc, or buy another miner?

[andytranter]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

[sindikat]

If you are interested in arithmetic it is more profitable to buy bitcoin. But there is a significant problem. You for life, you must have the Fiat. You will have to sell some coins to provide for their needs. In this case, the number of your bitcoins will be permanently reduced. Coin mining will always be profitable.

[rathaha10]

You get way more profit buying Bitcoins instead of buying a another miner. Today nearly every coin is falling, because the sellers are a bit stressed so they actually are selling their coins. Bitcoin is going also down this is the time for you to buy some Bitcoins.

[andytranter]

If you are interested in arithmetic it is more profitable to buy bitcoin. But there is a significant problem. You for life, you must have the Fiat. You will have to sell some coins to provide for their needs. In this case, the number of your bitcoins will be permanently reduced. Coin mining will always be profitable.

I have this in excess of what i need. Therefore the $1500 is here, and ready, to invest.

My question which investment is better?

[seasonw]

If I were to answer you now, then it is suggested to invest all your $1,500 into BTC, because BTC is doing correction now, definitely will climb back to $11k and even more.

[mithrim]

Thoughts everyone? What would you do with $1500? 

Just a general advice if I may: take your time. Don't FOMO. Plan ahead and don't rush anything. You got your bonus and you're now eager to invest it to don't miss anything. Keep in mind that markets move and even if there is a trend, there are also corrections if a movement is too strong/fast.

I personally would invest $1500 in those projects I researched and that I'm following. Take your time and don't rush

[aardvark15]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

Personally, I would take the easy route and buy a little more Bitcoin with it. I would set a target buy price for whatever you are comfortable with ($9000 maybe?) and wait to see what happens. Or you could just wait and if the price takes a bigger drop, then buy. If it doesn’t drop much, you can use the money for mining.

For me, I wouldn’t worry too much about whether I bought at $9000 or $8500 because I would hold to sell at $25,000 at least and probably more than that. I would expect a good profit either way.

[flower1024]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

Personally, I would take the easy route and buy a little more Bitcoin with it. I would set a target buy price for whatever you are comfortable with ($9000 maybe?) and wait to see what happens. Or you could just wait and if the price takes a bigger drop, then buy. If it doesn’t drop much, you can use the money for mining.

For me, I wouldn’t worry too much about whether I bought at $9000 or $8500 because I would hold to sell at $25,000 at least and probably more than that. I would expect a good profit either way.

My opinion is you buy bitcoins then you will get approximately 0.16+ BTC, and you can wait up to the price cross $20k then what is your profit just $1500. And we are not sure when the price will reach $20k your good luck within 2 months it will cross or your bad luck it may take a year. But mining is not like that you can mine your coins, and when you need money, you can sell it. Before making any decision think it from all ways.

[BartS]

If you are interested in arithmetic it is more profitable to buy bitcoin. But there is a significant problem. You for life, you must have the Fiat. You will have to sell some coins to provide for their needs. In this case, the number of your bitcoins will be permanently reduced. Coin mining will always be profitable.

I have this in excess of what i need. Therefore the $1500 is here, and ready, to invest.

My question which investment is better?

I think in these times where time is critical you are better buying bitcoin than mining, mining could give to you better profits in the long run, but taking into account all the time you need to wait, the taxes you need to pay and the added cost of mining, it will take you a while for that to happen, in the other hand buying bitcoin right now is something you can do immediately and if bitcoin skyrockets in the next year your profits will be better than if you bought another miner.

[buwaytress]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

Well, you have your answer now. It has reached $9,000, twice, and is trying very hard to break loose from that floor. So yes, it is likely to go low, dip, correct, however you want to calll it. But it is just as likely to surge up even higher. And as likely to drop even lower. I don't want to be pessimistic but I'm ready for it to test $5,000 floors

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

Can't give an expert opinion, but any expert miner will tell you to wait, I'm sure. And any expert miner who already knows how to be profitable won't be concerned about dips and surges. Just choose a plan and stick to it.

I'm not an expert anything, so my option is always to get Bitcoin. If i had spare cash, that's where it'll all go to.

[Hydrogen]

I've thought about this question in the past. I've seen people do ok for themselves making/selling jewelry or artwork. Having a lot of followers on social media seems to help with this. It might be possible to buy a sewing machine and start a small fashion business. I don't know anyone who has done it but if the price of fabric is low enough, there could be a niche market for those who enjoy cosplaying and creating custom attire.

I see 3D printers going for $300 on amazon and wonder sometimes if its possible to start a small business printing miniature figurines, jewelry, or other items and selling on ebay. Production and manufacturing is very affordable and easily accessible these days. It might even be possible to buy a guitar or keyboard and use it to produce clips on youtube to earn ad revenue.

None of my ideas may be any good. But there could be 3rd options to the HODL versus mining paradigm common in crypto that are affordable and worth pursuing.

[w5pn73]

I think you'd be better of buying bitcoin than buying a miner. Did you do any calculations for break even costs etc?

[richardsNY]

Throughout the years one thing has become perfectly clear -- buying crypto directly has always been far more rewarding than whatever form of mining. If we also look at what price you should enter the market at, there is no real solid answer that will satisfy you since no one has a single clue about that. Just buy Bitcoin at any given price, and keep it for at least a year. In current bullish market with CME and Nasdaq joining the party, there is an insane amount growth potential to realize in the next year. I wouldn't hesitate and just go for it, because the longer you wait, the more gains you'll be missing out on.

[HasHe]

You could better buy some more bitcoin with your money.Just wait for a small dip but don't expect a bigger one.Just avoid buying another miner.Why do you want to lock your investment once again by buying a miner,then providing cooler equipments for that and face difficulties if suddenly government bans bitcoin mining.

Just buy some more bitcoins as more probability is that bitcoin price would rise more in future as wallstreet companies have started to change their attitude of opposing bitcoins and have started to invest in it.Just they want to join the winning team.So,investing in bitcoins would be a thousand times better option than buying a miner.

[Sadlife]

In this situation you should buy something that will surely make you great profit not the one that is to expensive and inconvenient for you cause not only it will not make profit but also make you lost your money due to maintenance fee, eletricity fee and other expensive stuff that will make you buy in order to get a promise of a better performance. When you can just buy bitcoin hold it then sit back and relax.

[deadsilent]

I will probably buy bitcoin with that money. It would be less work. Besides, Bitcoin will pump again soon as a major financial market will add Bitcoin. You don't wanna miss that opportunity. I think Bitcoin will reach $15k before the year ends. Mining can be profitable if you have cheap electricity, cheap internet and cold environment since you need to cool your miner to avoid overheating. If you don't have this. I don't think mining can give you decent profit. You have to calculate everything first before making decision to mine Bitcoin.

[Kemarit]

Is that a Christmas bonus of what?  Majority of members says that its better to invest it on bitcoin only, so I think that will be the right choice mate. Just look at the current price and just compare it like 2 days ago. Know we are back to above $11,000 and I'm sure that if you bought your money with bitcoin, you will something of a profit today. I cannot think of better investment than bitcoin itself. Of course there will be some correction because we can't go like this in the long run, but history tells us that bitcoin recovered and even go further that its previous highs. So no need to worry. I don't know about getting a new miner hardware though, the return of investment is now big as compare to just holding bitcoin in the long run.

[player514]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

I don't think it makes sense to put that into mining right now. Try to get the best of a cycle and you may be able to make good returns on your bitcoin if you invest. Or you could look into some altcoins that have been performing well and work your money into them. It'll take some research, but if you do it right, you'll end up in the green. I just don't think mining is as profitable as it once was.

[BTRIC]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

Buy $1500 of BTC during a dip.  Wait a few days, maybe a week or two, till it goes up $1500, then sell that portion of BTC (hodl the rest of your dip purchase, so about half) and get your miner.

[Endikadija]

So after being paid a little bonus, i'm wondering what is best to do....

I'm not sure how low BTC will come down to after this monsterous surge, so i figure i have 2 options:

1 - Buy BTC when i figure is the best time. But when is that time?!?! Is it when it reaches $9,000? $8,000? Is it even likely to go that low again?

2 - Buy another miner and have it hosted somewhere. I already have a home miner so i'd like somewhere cheaper to run another one (expensive and inconvenient in the UK), and i'd like to skip the $200/250 import VAT duty. But then i have to wait 2 months or so for an S9. Or maybe worth waiting until the new Avalon 8 series comes out early next year?


With this amazing surge in price, i'm tempted to just buy more BTC, but then i am concerned the price might correct itself and lose out.

Thoughts everyone? What would you do with $1500? 

You can try to invest your money in the bitcoin since you know about the electricity is so expensive in UK. Just buy the dip and then wait for it until the price will be back again in the future.
Remember you must do a lot of research to buy the more miner especially the ROI will be so long.