New to Bitcoin. Should I mine or buy coin with my $6000

[angel750]

Of course buy bitcoin you in the short term will earn more than buy a mining machine.But that's my personal opinion.

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[lillyann]

Hi Everyone,

I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.

I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s

Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.

I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.

tl:dr;

1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

Thanks so much for all your feedback.

*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

Mining is not profitable now. Unless you get an altcoin. The BTC price is now very low but it will fall. probably up to 4k $.

[Sam San]

Dude do not get in the complication of mining right now as it is not profitable anymore...you can calculate in some mining output calculator sites and you would know yourself its not worth..rather buying bitcoin is simple and can give you much more profit rather than mining.

Seconded!

It'll take you much more than $6000 to earn your $6000 back by way of mining. It's not profitable any longer for the small time player. Bitcoin mining these days requires one to have the investment that rivals that of establishing a business to do so.

I third the motion with you guys, nowadays mining is becoming hard and earn on mining would not be predicted since there  are already stable miner that had been mining for a long time, so new miner would be having a difficult time to compete with their upgraded equipment, so I like to suggest for you to invest on Bitcoin or to learn the basic of trading.

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miner is not just buying a mine, it is a profession. you need to have the knowledge and skills to manage the mine. you can get a lot of different coins, but you need to know what and when to produce, what and when to sell.

[Verde_Mantis]

Hi Everyone,

I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.

I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s

Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.

I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.

tl:dr;

1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

Thanks so much for all your feedback.

*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

If you are new my first suggestion would be to study more the subject, and then eventually buy bitcoin. Mining it's not that easy and you have to consider a lot of different parameters, so it's a bit complicated if you are new.

[tambok]

Hi Everyone,

I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.

I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s

Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.

I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.

tl:dr;

1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

Thanks so much for all your feedback.

*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

If you are new my first suggestion would be to study more the subject, and then eventually buy bitcoin. Mining it's not that easy and you have to consider a lot of different parameters, so it's a bit complicated if you are new.

Our decision with our money when it comes to cryptocurrency depends on us, our capabilities and our objective in life, if we really want to have mining and we do have an idea how we are going to do it then it would be better, if we don't have much time then simply we can just buy bitcoin.

[Superzpay]

The coin is ready to boost up very high in the coming few months. It is expected that bitcoin will reach to $20000 within the coming few months so if you will buy a bitcoin then you will get a bigger profit in the coming few months while with a mining rig you cannot mine a higher amount which is expected with investment. Both are better but the profit is higher if you will buy bitcoin with that money.

[richan]

You want profit so evaluate the one that give you more of your money with less effort. The mining is highly regarded to make you make passive earning than the buying and holding which can bring your total bitcoin value to half.

[420moviez]

I will tell an obvious thing now, but it is the fact. When the market falls a mining becomes less favorable and to make smaller profit respectively. But if to reduce costs of energy to minimum, then and at the red market it is possible to get good profit

[Kingofbitcoin12345]

You have already stated much important points on what is profitable.. I think mining at this time with difficulties and graphic cards prices it is not ideal at the moment.. So I suggest direct buying bitcoin will have less risk than the other one and have more chances of much higher gain.. And also you’re new if ever as a miner,, technicality would be likely a big disappointment..

Take the much easier way as the price now is almost equal to your purchasing power.. That’s more or less to 1BTC at @6700$ price today..

[laiya94]

According to the current market status of bitcoin, I think it is better to buy some BTC than mining and later you can sell when it's gone up.

[Zulfiyan]

I think you must mining, but also you can trading(buy coin) so, your can do it all. If you lose in mining, maybe you will profit in trading, Good Luck. It just my opinion. Let's do it and Good Luck

[yesyes18]

To me I think what you'll need later is the profit you'll get from it. So as per your analysis, you should choose the most convenient and profitable option. just analyze cost and benefits and you'll find out which one you should focus on.

[rollingstorm45]

you can make a rig mining premises 5000 and you can start trading with 1000 mu
mining will give you profit periodically and steadily, even if it's small in value
trading will give you profit anytime, even loss, with a large amount
that way, you will find out which skill is suitable for your hand

[ishinn99]

Dude do not get in the complication of mining right now as it is not profitable anymore...you can calculate in some mining output calculator sites and you would know yourself its not worth..rather buying bitcoin is simple and can give you much more profit rather than mining.

Seconded!

It'll take you much more than $6000 to earn your $6000 back by way of mining. It's not profitable any longer for the small time player. Bitcoin mining these days requires one to have the investment that rivals that of establishing a business to do so.

I third the motion with you guys, nowadays mining is becoming hard and earn on mining would not be predicted since there  are already stable miner that had been mining for a long time, so new miner would be having a difficult time to compete with their upgraded equipment, so I like to suggest for you to invest on Bitcoin or to learn the basic of trading.

Subscribe My New sub-Reddit: https://www.reddit.com/r/cryptocurrencyPH/
Follow me on Twitter to gain Followers: https://twitter.com/Chaki44174633

I also agree, this days mining with bitcoin is not profitable better to buy, but if he really prefer to mine better mine new potential coins it will surely give you good profit in the near future.

[iconternal]

If your money is not enough to buy the tool with the power you have, better your money to buy bitcoin first in order to grow and get results in trading, and after your money enough you can buy the mining equipment you want.

[Gameroid]

I think you must mining, but also you can trading(buy coin) so, your can do it all. If you lose in mining, maybe you will profit in trading, Good Luck. It just my opinion. Let's do it and Good Luck

Mining is good no doubt that in current time the price is too much down and the cost of electricity to too high, so you may not be able to make a reasonable amount of profit from mining, but you can arrange a free source of Electricity then no doubt that mining can give you a good profit, for example you can arrange solar panel which can provide you sufficient  amount of electricity to run your system smoothly, then no doubt that mining is too much than trading and holding.

[OROBTC]

...

Unless you are already highly skilled in Bitcoin (or other crypto)

and

unless you can buy powerful mining equipment very cheap

and

your electricity costs are very low...:

Just buy the Bitcoin (or BCH, etc.)

[cryptoblue77]

I would suggest you don't mine, as mining difficulty has increased and it may not be that profitable. You should invest this amount into bitcoin and altcoins. If you diversify your portfolio then it would be profitable for you.

[xaviervilla]

Hi Everyone,

I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.

I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s

Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.

I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.

tl:dr;

1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).

Thanks so much for all your feedback.

*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?

Considering that the electricity bills are not a problem for you, I think that mining bitcoins would
be a much better choice for you because bitcoins will never lose demand in my opinion. Furthermore,
as a newbie, I think that it would be giving you better returns and be able to avoid losses than
investing because you are still new to this industry and may find it hard to measure when to buy or sell.

[mmo4me.2016]

With Bitcoin, you can Mining, exchange or invest, depending on your preferences as well as your abilities! Currently, digital money is creating a lot of investment opportunities for members,
Good luck