I have 7k and I don't know where to spend it.

[MZD]

Cointerra?

Seems like, barring a 100% difficulty increase per month, every month, for the next year I think machines will make more money than simply buying the bitcoins outright.

So I know I want some kind of ASIC but I don't know which one.

[g83]

I think you should have a look at knc

[freethink2013]

Why not buy some coins? BTC-e: 865

[Anon136]

localbitcoins.com

[caminilegroup]

Just give pm me your paypal email and I'll send you an invoice. I'll even let you claim it as charity 

[allinvain]

My advice, buy some coins and one or two miners just so you can get a taste of the heaven and hell of being a miner. Then come back in a year and tell me which was the better investment - direct btc or mining gear

[seriouscoin]

Buy coins

/thread


seriously, if you ASK ANY miners here if they would have made more buy just holding on their btc, they all will say yes.

ROI for mining is only in fiat.

[MZD]

If I buy bitcoins now I'll get 7.58 bitcoins. They are worth 924 today and definitely could be worth double that by next year. So 14k.

Any 2 TH/s machine is going to generate over 20 bitcoins in a years time. I just dont' see how buying bitcoins is better. It's not like I'd buy from BFL. lol.

P.S. I get that the exponential rise in bitcoin and now litecoin over the past year would mean that everyone would have gained more if they would have just bought bitcoins...but we aren't going to see a rise like that again anytime I soon....

[Cheshyr]

General consensus is to invest in the bitcoins themselves, although if you bought at 1200 last week, you'd be down 25% right now, so...

If you're looking to spend money now, and get devices now, hit up the bitmine threads in group buy.  They ship this week, and will ROI even with only half of december mining.  https://bitcointalk.org/index.php?topic=364342.0  They're not a great long term investment, but they're available now, and are the most likely thing to return the investment quickly.  You can take the earnings from that, and reinvest in the new stuff coming out in feb 2014.

[RickJamesBTC]

But you can't buy a 2th machine for $7k now. You can preorder one, it will probably take you till march at the earliest to receive it. That will cut into your btc production by a large factor. If there were 2th machines available now (heck, if there were 1th machines) for that price, they would sell like hotcakes.

[dlasher]

With the market the way it is, buy coins.

Wait till it dips into the $600-700 range again, buy, and sit on them. You'll make money back FAR faster than mining..

[xstr8guy]

Buy coins

/thread


seriously, if you ASK ANY miners here if they would have made more buy just holding on their btc, they all will say yes.

ROI for mining is only in fiat.

Really, lol.  No we won't!  I'm simply not a bitcoin investor.  Period.  I'm a miner.  Buying and holding is not for everyone.  Many people here think the same way.

Btw, how do you increase your bitcoin holdings if you only "buy and hold"?  You will always have the same amount of bitcoins that you originally bought.

Miners can mine and hold, mine and sell and/or mine and reinvest.  You can only buy and hold... and then eventually sell, I suppose.  And then... surprise!  You profit in fiat too... if you're lucky.

[xstr8guy]

General consensus is to invest in the bitcoins themselves, although if you bought at 1200 last week, you'd be down 25% right now, so...

If you're looking to spend money now, and get devices now, hit up the bitmine threads in group buy.  They ship this week, and will ROI even with only half of december mining.  https://bitcointalk.org/index.php?topic=364342.0  They're not a great long term investment, but they're available now, and are the most likely thing to return the investment quickly.  You can take the earnings from that, and reinvest in the new stuff coming out in feb 2014.

That's BitMain, not BitMine.  Different companies.  BitMain is currently auctioning/selling the AntMiner  BitMain is only selling preorders for the CoinCraft series of miners.

[ScaryHash]

The whole "Just buy BTC thing" is a complete fallacy.

When was the last time that buying stuff actually satisfied anybody for more than 3 days?

With mining, you get to generate your own bits and bytes, which then you can buy stuff with, or hold it, or trade it for fiat, or gold, or silver, or pu$$y or whatever.

When you're mining, you're your own central bank. And, best of all, you did not have to be ratified by anybody.

It simply generates money because you told it to generate money, hooked it up to your network, programmed it, whatever.

It simply does not get any better than that.

[xstr8guy]

The whole "Just buy BTC thing" is a complete fallacy.

When was the last time that buying stuff actually satisfied anybody for more than 3 days?

With mining, you get to generate your own bits and bytes, which then you can buy stuff with, or hold it, or trade it for fiat, or gold, or silver, or pu$$y or whatever.

When you're mining, you're your own central bank. And, best of all, you did not have to be ratified by anybody.

It simply generates money because you told it to generate money, hooked it up to your network, programmed it, whatever.

It simply does not get any better than that.

 

[gamer4156]

Mining difficulty is going to do something crazy in the next 2 months. We should have 2THs being mined by the public by the end of the month. Note all this power is already on the network and we doubled the total hashing in 4 weeks. I think we will see some scary numbers come March. Play around with a mining calculator with the difficulty at 5 billion and see if this is a wise investment.

Note I think we see 10k USD/Bitcoin by the end of 2014.

[sidhujag]

Buy some coins that havent been pumped to death.. look lower on coinmarketcap.com... 10 to 25 should be good.

[MZD]

Now were getting somewhere. I'm starting to think Scrypt is the way to go. I can buy 11000KH/S right now and ROI in 6 weeks. That and LTC or other Scrypt coins aren't difficulty wont skyrocket for some months.

Question is can I REALLY cash in (convert to BTC OR LTC) these alt alt coins like Neocoin, Galaxycoin, and Philosopherstone. LOL.

That being said I guess any BTC ASIC could also mine SHA-256 alt coins as well...

Hmm...much to ponder so little time.

[joshv06]

7k for 110,000kh/s? where?

[nexus99]

The whole "Just buy BTC thing" is a complete fallacy.

When was the last time that buying stuff actually satisfied anybody for more than 3 days?

With mining, you get to generate your own bits and bytes, which then you can buy stuff with, or hold it, or trade it for fiat, or gold, or silver, or pu$$y or whatever.

When you're mining, you're your own central bank. And, best of all, you did not have to be ratified by anybody.

It simply generates money because you told it to generate money, hooked it up to your network, programmed it, whatever.

It simply does not get any better than that.

Hold on, we can trade BTC for pu$$y?