Hello, I have nearly $12,000 dollars and would like some advice on how to invest with bitcoin. Should I buy mining contracts from cloudhashing, cex.io, black arrow mining contracts
should I just short trade on coinbase, should i mine myself
Please help me out with some advice. Thanks
Don't listen to others, specially for those saying mining is at loss.
They probably run small mining gear, and don't want any competition causing difficulties going up.
Their arguments are half true. It is true that difficulty level is at prohibitively high that miners are in danger of losing money. But how else are you going to get bitcoin? Invest on them and hold on to it for few years? Good advice, but only half truth. If everyone hold on to bitcoin, and do not use them, the function of bitcoin will suffer. This is bad for everyone. Most of bitcoin must be circulated like cash.
- Don't even listen to me, read everything on http://en.wikipedia.org/wiki/Bitcoin including all links in it.
- Follow available standard investment guidelines like from investopedia.com
- Spread your investment. Buy few bitcoins, do some cloudhashing, and mine yourself using some good gear from CoinTerra or KnC.
I personally use cex.io. But their hashing price is about three time more expensive than butterflylab, and a lot more than mining yourself. But I think it's good choice to parallel with other mining options. I currently have 5GHS, and will put two bitcoins in them soon. I'm waiting for coinbase to clear my purchase.
I am also trying to get mining machine from CoinTerra. KnC looks really good, but I live in USA, therefore, I will choose CoinTerra over KnC for various reasons.
But again, don't listen to anyone including me. It's your money.