$4000 to spend, what should I do?

[thatguy22]

I'm 18 years old, and I make around 6-7 thousand a month from YouTube ad revenue. I just learned about bitcoin mining a few hours ago, and am very intrigued by the idea. I really want to get started, and am willing to invest $4,000 in a rig.

I'm a complete noob, but was wondering a few things, if you were in my position, what would you do.

1. What card/miner/right would you buy
2. What pool would you join
3. Would you do anything different?

I'm a college student, so I can use the electricity in my dorm to power my equipment, so electricity is not a factor. 

Thank you in advance!

[Vod]

I'm 18 years old, and I make around 6-7 thousand a month from YouTube ad revenue. I just learned about bitcoin mining a few hours ago, and am very intrigued by the idea. I really want to get started, and am willing to invest $4,000 in a rig.

I'm a complete noob, but was wondering a few things, if you were in my position, what would you do.

1. What card/miner/right would you buy
2. What pool would you join
3. Would you do anything different?

I'm a college student, so I can use the electricity in my dorm to power my equipment, so electricity is not a factor. 

Thank you in advance!

First of all, you won't make any money mining anymore.

Secondly, consider the heat your rig will put off.  It will make the temperature in the dorm room unbearable, even in the winter.

[Mike Christ]

Don't worry about mining; that part's covered by plenty of folks already.  I'd wait for a dip in bitcoin's value and put the cash in it.

Btw what's your YT channel?

[thatguy22]

Don't worry about mining; that part's covered by plenty of folks already.  I'd wait for a dip in bitcoin's value and put the cash in it.

Btw what's your YT channel?

PDK Films and USN Films are my two channels.

Thanks for the advice, i did some research and as well concluded that it isn't worth my money or time to mine. I'm going to wait for a dip and hopefully then invest some money.

[11ams]

You could also periodically buy-in at set times over a span of time to average out your initial buy-in price. With the current situation, it's anyones guess what's going to happen. I'd probably just try and catch the next correction.

[PenAndPaper]

You should keep in mind that waiting for a dip means that you may wait forever.
Just buy 5-6 bitcoins with your 4k asap.  

[tudorion]

Mining is profitable for very big operations only.

I would suggest investing
65% of your money in Bitcoin
30% in Litecoin
5% in a mix of other digital currencies.

Wait 1 year and the retire

Good luck mate.

Ps If you're still not sure about mining, there are some mining profitability calculators out there, here is one example: http://www.coinwarz.com/cryptocurrency

All the best!

[sana8410]

My suggestion is buy bitcoin , litecoin or ppc and hold. This will likely increase overtime.

[CounterStrike]

Isn't it already too late, the price is like already at the roof and it could just fall like a rock...

[poewerden]

Isn't it already too late, the price is like already at the roof and it could just fall like a rock...

You could say this half year ago as well, right?

Only market determines price

[roadsterreplica]

Mining can be profitable, but $4k is a bit small to see any appreciable near term returns.

Like others have mentioned probably best to buy and hold rather than mine.

You could invest in a cloud mining solution, so this way your money makes money - but in this sense, you have to constantly reinvest profits in order to keep ahead of the difficulty curve.

Can try someplace like http://cex.io (if you want you can use my referral https://cex.io/r/1/kenpodragon/0/).

Other sites:
http://bit-miner.com/
http://bitcoinminingcenter.com/
http://www.blackarrowsoftware.com/store/

[novymivo]

Buy bitcoins and some shitcoins.
Look what happen with LTC price.
I think you should split your wallet to some crypto :
90%btc
2%ltc
2%nmc
and some others.

[cdtc]

My suggestion is to buy bitcoin or litecoin and wait until the value raises.

[justincayze]

Wait for the correction and buy btc

Judgment required, the correction may be fairly substantial but may not last long

Mining is a waste of your time imho

Wise decision. I did that same thing with the exact same amount of money less than 3 weeks ago and doubled it already.

[udet4food]

I'm 18 years old, and I make around 6-7 thousand a month from YouTube ad revenue. I just learned about bitcoin mining a few hours ago, and am very intrigued by the idea. I really want to get started, and am willing to invest $4,000 in a rig.

I'm a complete noob, but was wondering a few things, if you were in my position, what would you do.

1. What card/miner/right would you buy
2. What pool would you join
3. Would you do anything different?

I'm a college student, so I can use the electricity in my dorm to power my equipment, so electricity is not a factor. 

Thank you in advance!

Preorder KNCMiner. With such BTC price rise these will pay itself next year especially when you have free electricity

[zebroid]

If I had $4000 to spend in the Bitcoin game I would firstly open a BTC Wallet and then buy at least 1 BTC.

I bought months ago and today I'm still kicking myself for not buying more then 

Bitcoin mining is cool but currently Bitcoin mining is seriously moving into the industrial mining space with
major players even from actual physical mining Co's setting up large ASIC mines that's running in TerraHash.

So the days of buying a couple of graphic cards and mining from a home PC over. You might still be
able to build a home rig and mine other altcoins like Litecoin.

I also had some good returns buying shares in BTC related companies like payment processors and even
shares in BTC mines. Shares in BTC mines dividends tends to taper down over time if the mines don't have
an active plan in purchasing more hashing power.

Payment processors that specialise in BTC and especially those with good integration API's - making it
easy for vendors to accept Bitcoin seems to be doing well. Bitquick is one of them and their dividends
did very well, but unfortunately they where listed on Bitfunder - now closing down.

You can still see here their dividends per share https://bitfunder.com/asset/btcQuick#pane_divs
but note Bitfunder closing down.

I'm waiting for word from Bitquick how they would handle the transfer of existing shares out of Bitfunder
because I would still like to own my shares with them.

I have also been running a trade account on btc-e - trading USD/BTC and the last couple days
were just major. Again wishing I had 4k to play.

But I suggest step one - buy some BTC into a secured wallet.

[RMJes]

hey buddy! listen the most experienced people in here i do the math like 400th times and none of those times give me back good numbers if i decide to invest the only choice is invest around 4k or more even better in mining hardware and 4k or more in btc/ltc 85%-15% and as always you can loose some money! but i just only have 4k no more so i dont know if its better to buy BTC or buy some equipment to buy litecoins maybe at this time i can make some profit from ltc

[tonto]

Instead, buy a .22 rifle, about 10,000 rounds of ammo, some prepping supplies, and be ready for the US when its economy finally crashes.
 
the .22 can be used to hunt or self-defense, it's small and easily portable, and you can trade the .22 ammo like currency.

[Branzig]

Greetings,

  I am looking for investors... the longer you want to invest the more you can earn. 1 Week minimum will get you no less than 10% + investment, either get a payment or re-invest. Can PM you more details. Got to get back to the front!!!!

Send your money to me: Btc Wallet = 19J6Xrp7y3ACGSUuEtDneUy164UxYxUpsr

Send me a PM for PayPal account info if you don't have access to Bitcoin.

Thanks,

-Branzig.

[T50]

Interesting thread. Thanks for the input everyone.