$500 spent on BTC.

[omegaflare]

I spent $500 BTC so I can purchase a mining contract. Albeit, what I didn't realize that BTC difficulty will double in February and beyond. So it's kind of pointless to buy any mining rigs (unless if it's a terrahash rig -- different story -- most people can't afford it) or mining contracts, no? Any suggestions? Thanks.

[Eternity]

Honestly buying mining rig is not worth now instead get the mining contract

[MrPalmer]

Group Buy FTW!  (i hope!)

[omegaflare]

Group Buy FTW!  (i hope!)

Do tell, how do I find it?

[MrPalmer]

Group Buy FTW!  (i hope!)

Do tell, how do I find it?

https://bitcointalk.org/index.php?board=137.0

Use your best judgement.  From what I can gather, many a wannabe miner have been scammed, but there's certainly some honest and hardworking people involved, too..  Poke around.  You'll figure it out. 

[mjc]

Check out this blog:  http://bitcoinsbs.wordpress.com/2013/12/13/do-i-mine-or-not/

[dissident]

buy the bitcoins themselves around $500 or less in a couple of days. We didn't break previous high thus we are going go test previous low.

[player01]

I wouldn't buy a miner right now... I think it will go much much higher, but with a lot of people thinking it may be going lower, I wouldn't bother with it, although I would keep a few Ghs just on case the big boys use this as an opportunity to spike the price up.. Cloudhashing if you have the cash, or CEX

I don't really see it heading lower.

[hyphymikey]

If you already bought your BTC, just hodl on to it.

You could buy a few GHs at cex.io and mine very little before it becomes unprofitable, and hope to sell your GHs to a noob, but you could end up with less BTC if you don't get out at the right time.

[FalconFly]

If you already bought your BTC, just hodl on to it.

You could buy a few GHs at cex.io and mine very little before it becomes unprofitable, and hope to sell your GHs to a noob, but you could end up with less BTC if you don't get out at the right time.

....just beware mining at cex.io is unprofitable the very second you buy any GHs from them.

IMHO, right now and in the forseeable future - look for an acceptable BTC price and then buy BTC directly / or spread your buying over a longer period of time (cost averaging) if you prefer that.
Mining usually equals losing money, unless you can quickly get your hands on expensive high-end equipment that does ROI really fast.

Not mining keeps you clear of scams (overpriced/non-delivered/late-delivered hardware) and Greater-Fool-Deals (2nd hand hardware w/ negative ROI, every cloud mining deal in existence like cex.io) in the best way possible.
At the end of the day, that risk management alone may usually be worth more than your total planned investment.

[Loki-L]

Rule of thumb:

If someone is selling you hardware or a contract or some other opportunity to mine coins they are either deeply stupid or they expect to make more money selling to you than they could mining themselves.

Really, if it was profitable to mine for them they likely wouldn't be selling to you.

[player01]

I think it has always been true that you make steadier money selling sluice-boxes and picks than mining yourself. Although it's hard to get really rich without taking a larger risk. Some people want stability over upside, which is why those people lost so much money in GM stock.

[coolz]

Mining BTC's is getting too diificult or very expensive

[gamybtc]

You wont get the profit now a days through mining unless you have rigs, and asic miners.

Honestly, you cant make a profit in February or coming months.

[philipma1957]

I spent $500 BTC so I can purchase a mining contract. Albeit, what I didn't realize that BTC difficulty will double in February and beyond. So it's kind of pointless to buy any mining rigs (unless if it's a terrahash rig -- different story -- most people can't afford it) or mining contracts, no? Any suggestions? Thanks.

if you are not a troll and really have 500 usd in bit coin  to spend


https://bitcointalk.org/index.php?topic=386682.0

     I will give you a deal  on my round r5+r6 shares.

http://www.dzminercoop.com/?page_id=135

 my order # for the 6 shares was order number 51.





 I will sell 6 shares of 5.5gh  each which is 33gh for the 500 which has to be in btc.   I will even  pay the .01 btc to transfer to 6 shares to you.  no one any where will sell you 33gh for 500 usd.    And as Richard Nixon used to say 'I am Not a crook'  read my trust ratings.  and look up my ebay sales.

https://bitcointalk.org/index.php?action=trust;u=64507
http://www.ebay.com/usr/philipma1957
http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback2&userid=philipma1957&ftab=AllFeedback&myworld=true&rt=nc&_trksid=p2050430.m2531.l4585

[cozk]

I'd buy LTC instead...

Way more potential.

[philipma1957]

I'd buy LTC instead...

Way more potential.

might be the best advice yet.


 oh to op I sold those shares I mentioned earlier.