Asking for advice from Old-timers about group buy

[zhuzh]

Good Day, Gentlemen

I beleive that a good answer to this question will benefit a few newbies like myself. For a month now I was thinking what is the best option I have to reinvest 3000 USD in bitcoins I have earned through few months of litecoining. I definitely cannot afford any serious mining unit on my own and I do not mind a little bit of risk. What do you recommend me as my best option? Currently I am looking into taking part in some group buys, in particular this: https://bitcointalk.org/index.php?topic=366325.160

Would like to hear your opinion and recommendations on  the options I have.

Thank you!

[odolvlobo]

First, you need to estimate what your return from your investment will be. You need to predict delivery time, up-time, the future difficulty values, and expenses. If you do not do this, you are just gambling.

Second, keep in mind that there are plenty of risks, including the risk that the organizer (assuming he is legit) just stops mining, for whatever reason. This happens a lot more than you think.

Finally, make a rational decision based on your research. Don't do it just because other people are doing it. Most people that invest in mining lose a lot of money, and you will too if you follow them blindly.

[zhuzh]

Hi odolvlobo,

first of all thank you for replying. Now I guess a million dollar question: If you had 3000$ to invest into bitcoin mining which way would you go? My main purpose is to make sure that my bitcoins are generating profit and not just hanging out there.

Thank you!

[odolvlobo]

With $3000, I think I would buy my own miner, but I haven't looked at what is available lately, so I don't know what I can get. It is entirely possible that there is no miner that will return a profit  -- that has been the situation for a long time now. If that were the case, I would just buy the bitcoins directly.

[zhuzh]

Well if anyone has a suggestion on the best avaailiable product - please let me know
Right now I a looking at those puppies:
https://bitcointalk.org/index.php?topic=383486.0
Price versus performance is 4 times of neptune but they are promised to ship in about a week..

[infinitybo]

@Zhuzh That isn't a matter if you can't afford any serious mining unit because you can still ask for a lender here, and welcome aboard !