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Author Topic: Please help (Newbie) What should i buy?  (Read 1251 times)
adnanabbas
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September 04, 2013, 02:31:24 AM
 #1

Hello people,

I have  $2500 saved up and would like to get into bitcoin mining, hopefully making some profit along the way.
Could you please advice a brother on how to go about making it worthwhile. Any advice would be really appreciated.

Thank you
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tuckerblane
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September 04, 2013, 02:33:35 AM
 #2

I've been perusing this forum for a while and the general consensus seems to be that mining no longer gives you a return on investment (ROI). I'd suggest taking half of your stash and buying Bitcoins from Mt. Gox or another trusted source like that.

BTC Address: 1FSmYXXYP8JNSBpY4CLxhTbXgzwGKT9jeu
adnanabbas
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September 04, 2013, 02:57:09 AM
 #3

thank you "tuckerblane" for your reply. I was thinking of buying  a hashing contract, but everyone appears to have the miners on pre order. i don't know if they should be trusted or not. have you heard of bitcoinfrenzy.com, if you have what do you think of them?
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September 04, 2013, 03:03:37 AM
 #4

No, I haven't. I've just been looking for the free stuff like faucets (bitcats.net) and giveaway sites like dailybitcoins.org.
But then again, I'm broke and can't afford to invest for the time being, so I have to grind. Sad
But yeah, most places are backlogged with orders. Especially the bigger places like Butterfly Labs.
As for hashing contracts, I'm not sure how they work and can't comment on them.

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adnanabbas
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September 04, 2013, 10:55:17 AM
 #5

ah okay, maybe some with a little bit more knowledge might fill me in (no disrespect intended tuckerblane)
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September 04, 2013, 10:57:58 AM
 #6

I've been perusing this forum for a while and the general consensus seems to be that mining no longer gives you a return on investment (ROI). I'd suggest taking half of your stash and buying Bitcoins from Mt. Gox or another trusted source like that.

at Mt. Gox coins are most expensive
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September 04, 2013, 10:59:14 AM
 #7

go to bitstamp/locabitcoins/bitcoin.de and buy coins instead of mining gear. that's what I would do.

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adnanabbas
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September 04, 2013, 11:29:31 AM
 #8

its sad to hear that there's no point in buying any H/W  Angry
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September 04, 2013, 01:00:27 PM
 #9

you should invest in mining shares like Labcoin. labcoin could be worth as much as asic miner if everything is successful
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September 04, 2013, 05:03:29 PM
 #10

Hello people,

I have  $2500 saved up and would like to get into bitcoin mining, hopefully making some profit along the way.
Could you please advice a brother on how to go about making it worthwhile. Any advice would be really appreciated.

Thank you

dont buy something to fast. first you should read, wait and learn. mining for a newbie is not a good way to invest.

adnanabbas
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September 05, 2013, 11:45:44 AM
 #11

Thanks to everyone who has replied. you have propbely heard but the ASICminer Blades have gone in by less than half.  Shocked
http://thegenesisblock.com/asicminer-blades-reduced-65-to-3-5-btc/
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September 05, 2013, 11:48:23 AM
 #12

asicminer blades are not profittable, you will not make ROI.

buy labcoin mining shares: https://btct.co/security/LABCOIN
the price has only been going up and when they start mining you and me will be rich
hayek
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September 05, 2013, 12:04:26 PM
 #13

Buy Stocks.

Invest in companies that do mine.
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September 05, 2013, 03:01:42 PM
 #14

Buy Stocks.

Invest in companies that do mine.

Yes that is good advice. never buy bfl equipment also :-)
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September 05, 2013, 03:18:28 PM
 #15

Welcome. You can also buy btc and invest them (like in coinlenders.com or just-dice.com), which is safer than mining I think.

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September 05, 2013, 07:59:01 PM
 #16

no shares. no shitcoin. buy 50% bitcoin. and 10% to NVC,PPC,PrimeCoin,WDC,DGC. You will have x10 in next year by september
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September 05, 2013, 08:08:42 PM
 #17

You'd make a better profit just buying bitcoins.  Invest them in projects, gamble them, ETC.
adnanabbas
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September 05, 2013, 08:12:33 PM
 #18

what do you think of the idea, if i was to buy something like the 2TH/s cointerra rig (when they deliver it that is), because my credit is good and i would have no problems getting a loan. i mean i would be happy withing 2 months or so to get my money back and get a little something as profit.
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September 14, 2013, 12:54:02 AM
 #19

I'm also a Newbie and have the same sort of money to invest.  The advice on NOT buying H/W makes sense until all is understood.

So, I'm going to first have a look at Labcoin and maybe buy Bitcoin.

The shares at Labcoin is confusing the pants out of me Sad  What the hell do I do Sad  damit!!!

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September 14, 2013, 02:15:40 AM
 #20

So, I'm going to first have a look at Labcoin and maybe buy Bitcoin.

The shares at Labcoin is confusing the pants out of me Sad  What the hell do I do Sad  damit!!!

I am with ya, I really dont understand the share buy/bidding aspect :\

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