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Author Topic: New to Bitcoin. Should I mine or buy coin with my $6000  (Read 1025 times)
BeerTanker
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July 24, 2018, 05:49:14 PM
 #161

It is quite a time consuming activity to get into mining, is not like plug and play and is as speculative as buying. So go for buy-
jordanamg
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July 25, 2018, 01:03:54 AM
 #162

For a fund of $ 6000 you better buy bitcoin and invest or for you to trade, by buying bitcoin you will not be too busy to take care of your mining tools.
FerrisWheel
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July 25, 2018, 02:33:50 AM
 #163

My suggestion is to buy coin with your money and trade it wisely.

Make the target from your initial investment, if your target reached, then you should buy a mining rig
makpol19
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July 26, 2018, 12:19:50 PM
 #164

Wait till the end of the July for some amazing results that will astonish you.
hummadurrani
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July 27, 2018, 01:53:18 PM
 #165

I would personally invest in the bitcoin because with my past working experience in data centers, the electricity bill is insane. Unless you set up your mining rig in Canada or Seattle where they charge only 8 cents per KW but that will add up. Now the price is in the 8k range so I would wait for the market to come down.
HelixFoundation
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July 27, 2018, 02:07:49 PM
 #166

As many others previously said, mining is currently not that profitable unless your electricity is low priced or, if you have big farms of mining rigs.
matthew1981
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July 27, 2018, 02:53:49 PM
 #167

For us newbie, i think we must not invest first to avoid those people with evil intentions like scammers, hackers. As a newbie, its better to focus on earning a free bitcoin and understand well about this crypto technology. Read and research about other thread about crypto to get more knowledge before getting into investment. And if you think you know all of this then its time to invest and buy bitcoin.
SchiefelbeinBTC
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July 30, 2018, 10:36:18 PM
 #168

Invest in the long term as that will surely help you.
mamarried
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July 31, 2018, 10:44:43 AM
 #169

It all depends on your desire. You need to set up a strategy if you want to invest in bitcoin. I think that it is necessary to invest, when the price has just begun to climb, after  some time you can make a profit. It is good way.
Miguelgreen
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July 31, 2018, 11:10:38 AM
 #170

first off all if you are an newbie, you should learn a lot and study the market, and study the mining rigs, the algos, elecrticy bill, loose time on this.
what i can say is, i did the half way. i buy an mining rig, and the rest i invest in altoins. i am in loss now with every coin. first i started with daily trading. i dont have time for it so only do it if you have time. the best bet its buy and hold. hold and relax, comeback in a year. with the mining rig i do the same.
i hold all off mining. i start with eth now i am in xmr.
if i return to the pass, i will do the same. never put all in one basket. good luck
laborrdj
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July 31, 2018, 04:28:03 PM
 #171

Really a helpful trend. Gives me a lot of ideas to start investing bitcoin.
MileyPeardon
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July 31, 2018, 11:36:20 PM
 #172

Buy. For sure. However, consider altcoins rather than btc IMO
trakatalopp
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August 02, 2018, 11:13:57 PM
 #173

For the longer run, you must do some good investment and also buy the bitcoins.
Ciscopro2000
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August 03, 2018, 06:35:32 AM
 #174

In this current market, buying btc is a no brainer.  Btc prices are relatively low compared to end of last year, and mining is definitely not profitable at the moment.  I dabbled in mining a few months ago at the peak of gpu craze and I’m regretting every moment.  Returns suck. 
SaraClarke1212
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August 03, 2018, 07:07:04 AM
 #175

Now, with your $ 6000 I think you should invest in mining machines. Although, the time and effort you spend may be longer than the $ 6000 to buy bitcoin you can earn more than that. Currently, the price of a bitcoin is $ 8000 but you only get $ 6000.
Marachgalthena
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August 03, 2018, 11:53:04 AM
 #176

I think you should a small amount to learn some about the market and watching it for a while for experience then diced to invest or not.
neo444
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August 03, 2018, 05:52:40 PM
 #177

I advice you to buy bitcoin because his price will be high than now in future for me mining is very risky because you can lose your money in it without earning a high profit from it
Stedsm
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August 03, 2018, 06:06:26 PM
 #178

It'll cost you time to learn mining, instead learn for AWS mining and try your luck there if you can get some Amazon accounts, few of my friends were doing it and they were also new to crypto and were interested in mining, but they found someone who suggested them AWS and made them understand how to use it to mine a few valuable coins. About your money, as of now, you should buy Bitcoins and hodl them until you get a chance to buy a few alts at their least (cheapest) values. Bitcoin is also good because ETF is in line and will make ways for investors to drive the markets crazy. You can set a buy order at lowest levels and who knows, you may get the best coins for least price and sell them later when alt season starts and such coins do a 10-20x and even give you a 100x shot.

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cryptoJJJ
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August 04, 2018, 12:12:23 AM
 #179

Mining sounds really complicated to do, and the mining hardware  keeps getting better, and what  you as a private person can buy, might not be the same quality that the big mining rigs can buy. Big spenders always gets the best first.
I would just buy a Bitcoin for that money and see where it can take me.
kiemnhieutien
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August 04, 2018, 01:50:00 AM
 #180

Start mining crypto with $6000 is not a smart idea. I think you should buy Bitcoin at low price now, with $6000 you can buy up to 0.9BTC and hold it in months. I'm sure it will give you big earns.
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