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Coef
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May 06, 2014, 12:03:14 PM |
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If you want to mine do it with this power otherwise no fast returns.  Am I understanding it correctly, that the person keep about 280BTC on ghash.io?  |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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saurabh
Member
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Activity: 70
Merit: 10
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May 06, 2014, 07:27:47 PM |
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In the current market, it is certainly more cost effective to buy directly, unless you want to dig for fun,
but you have to hold it, do not sell too early
I agree with you but it will only be fun mining when you have lot of $$$$$$ to burn!!!!  |
Digital Currency is the future
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saurabh
Member
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Activity: 70
Merit: 10
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May 06, 2014, 07:34:53 PM |
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If you want to mine do it with this power otherwise no fast returns. Am I understanding it correctly, that the person keep about 280BTC on ghash.io? I really do not know but I think with the hash power he has he makes about 30 BTC a day hence 280 is not big deal for him to hold... |
Digital Currency is the future
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Soappa
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May 06, 2014, 09:16:54 PM |
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If you want to mine do it with this power otherwise no fast returns. Am I understanding it correctly, that the person keep about 280BTC on ghash.io? I really do not know but I think with the hash power he has he makes about 30 BTC a day hence 280 is not big deal for him to hold... From the screenshot, it does seem the person has 278.96 BTC on his account. It is crazy, not for having the hashrate, but for keeping that much bitcoin on a pool IMO. |
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BitcoinTraders
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May 06, 2014, 10:16:44 PM |
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I recommend you that if you want to invest in Bitcoin don't buy miners because they won't earn back your invest!
You should buy some BTC now and watch that it's price is going upper!
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nuff
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May 07, 2014, 09:48:07 AM |
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If you have free electricity, you already have a big incentive to try out mining to see if it's for you. Contrary to what most will say, you will eventually get back your investment but it takes time. Mining isn't for instant gratification. For me, I mine because I like seeing my btcs accumulating day by day. I'd vow that I wouldn't pay fiat to get btcs, but I relented when it hit the sub-400 level, that's just too good to pass. But after I bought, I'm left with a sense of 'ok, what now'. Having had both experiences, I decided I prefer mining than buying. Plus, mining takes out the agonizing wait for price to rise, and the despair when price falls. IMO, mining now is better than buying, because you'll never see the volatility of last year again because Bitcoin is stabilizing. Those who buy now thinking in a month's time prices will double, they're sitting on empty hopes, and if you're weak hand you won't last and you'll lose out and start criticising Bitcoin, like one forumer here who gave up because she bought high and sold low.
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ChuckBuck
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May 07, 2014, 12:54:32 PM |
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If you have free electricity, you already have a big incentive to try out mining to see if it's for you. Contrary to what most will say, you will eventually get back your investment but it takes time. Mining isn't for instant gratification. For me, I mine because I like seeing my btcs accumulating day by day. I'd vow that I wouldn't pay fiat to get btcs, but I relented when it hit the sub-400 level, that's just too good to pass. But after I bought, I'm left with a sense of 'ok, what now'. Having had both experiences, I decided I prefer mining than buying. Plus, mining takes out the agonizing wait for price to rise, and the despair when price falls. IMO, mining now is better than buying, because you'll never see the volatility of last year again because Bitcoin is stabilizing. Those who buy now thinking in a month's time prices will double, they're sitting on empty hopes, and if you're weak hand you won't last and you'll lose out and start criticising Bitcoin, like one forumer here who gave up because she bought high and sold low.
Not if you buy miners with BTC. Only if you buy miners with Fiat, is the mining strategy better. If you buy miners with BTC at this "low price" you're throwing Bitcoins away that you'll never mine back. |
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Sonny
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May 08, 2014, 05:22:15 AM |
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If you have free electricity, you already have a big incentive to try out mining to see if it's for you. Contrary to what most will say, you will eventually get back your investment but it takes time. Mining isn't for instant gratification. For me, I mine because I like seeing my btcs accumulating day by day. I'd vow that I wouldn't pay fiat to get btcs, but I relented when it hit the sub-400 level, that's just too good to pass. But after I bought, I'm left with a sense of 'ok, what now'. Having had both experiences, I decided I prefer mining than buying. Plus, mining takes out the agonizing wait for price to rise, and the despair when price falls. IMO, mining now is better than buying, because you'll never see the volatility of last year again because Bitcoin is stabilizing. Those who buy now thinking in a month's time prices will double, they're sitting on empty hopes, and if you're weak hand you won't last and you'll lose out and start criticising Bitcoin, like one forumer here who gave up because she bought high and sold low.
Not if you buy miners with BTC. Only if you buy miners with Fiat, is the mining strategy better. If you buy miners with BTC at this "low price" you're throwing Bitcoins away that you'll never mine back. With that logic, it is better to buy bitcoin directly than to buy miners which won't give you as much bitcoin. |
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Angela8488
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May 09, 2014, 04:21:45 PM |
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Buy, definitely buy, mining revenue is very poor, and consume a lot of energy and electricity.
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nuff
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May 11, 2014, 01:01:51 PM |
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If you have free electricity, you already have a big incentive to try out mining to see if it's for you. Contrary to what most will say, you will eventually get back your investment but it takes time. Mining isn't for instant gratification. For me, I mine because I like seeing my btcs accumulating day by day. I'd vow that I wouldn't pay fiat to get btcs, but I relented when it hit the sub-400 level, that's just too good to pass. But after I bought, I'm left with a sense of 'ok, what now'. Having had both experiences, I decided I prefer mining than buying. Plus, mining takes out the agonizing wait for price to rise, and the despair when price falls. IMO, mining now is better than buying, because you'll never see the volatility of last year again because Bitcoin is stabilizing. Those who buy now thinking in a month's time prices will double, they're sitting on empty hopes, and if you're weak hand you won't last and you'll lose out and start criticising Bitcoin, like one forumer here who gave up because she bought high and sold low.
Not if you buy miners with BTC. Only if you buy miners with Fiat, is the mining strategy better. If you buy miners with BTC at this "low price" you're throwing Bitcoins away that you'll never mine back. With that logic, it is better to buy bitcoin directly than to buy miners which won't give you as much bitcoin. The mind buys, the heart mines  |
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fattypig
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May 11, 2014, 03:12:24 PM |
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Buying is the only way to go, you have high chances to make profit from it. As for mining equipment, the chances to recover is close to 0..
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ChuckBuck
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May 12, 2014, 04:05:10 AM |
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Buying is the only way to go, you have high chances to make profit from it. As for mining equipment, the chances to recover is close to 0..
Closer to negative at the moment, especially with summer months approaching and the electrical costs due to air conditioning and cooling the equipment for the home miner. |
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FIAcoin
Newbie
Offline
Activity: 5
Merit: 0
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May 14, 2014, 05:57:26 PM |
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Just buy btc, mining going down too fast.
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s1gs3gv
Legendary
Offline
Activity: 1316
Merit: 1014
ex uno plures
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May 18, 2014, 02:19:12 AM |
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Negative sentiment is a strong contrarian indicator. Mine, but buy your gear with fiat.
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pumawolf
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May 18, 2014, 06:07:41 AM |
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if u have extra money and free eletricity , then mine. its really hard to profit in this game so dont expect to profit. what mining can do is give u a good education on the backbone of btc. i have never profited directly by mining. indirectly it taught me to value btc more, daytrade better,short term invest better. i dont do long term , the btc world is day to day, long term is a losers game in this industry. if u have the ablity and time to sell ur hardware and then upgrade fast ,thats the way to play it short term.
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Lamber
Member
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Activity: 75
Merit: 10
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May 18, 2014, 06:25:15 AM |
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mine altcoins and trade them to BTC when the values is right. For another part just buy BTC.
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BSIG
Member
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Activity: 75
Merit: 10
Vintage4X4
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May 23, 2014, 06:58:46 PM |
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buy if you want to hold some coins.
mine if you are up for the challenge.
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Vintage4X4
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Eirecoin
Full Member
Offline
Activity: 210
Merit: 101
★Bitvest.io★ Play Plinko or Invest!
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May 24, 2014, 01:21:01 AM |
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Check my sig lads, is there cheaper out there? I'm kinda in the market for an antminer but the cost of electricity is putting me off.
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bittybit11
Member
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Activity: 115
Merit: 10
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May 31, 2014, 03:23:06 PM |
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It depends on what kind of power you have and the time you`re willing to wait for the roi, if you have low budget i suggest altcoins
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crazyoddman
Member
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Activity: 112
Merit: 10
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May 31, 2014, 03:27:51 PM |
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I have free electricity, and will for another two years. So I'm contemplating buying some S1s and mining, but can't help but think it would be better to buy and hold the BTC.
Any advice?
The most interesting fact is that you have free electricity for then next two years, can you tip me on how to that. Moreso, i would advise you to buy BTC, but only if you dont need to exchange the BTC back to fiat in the next 2 years or so. Because if you buy with the intention to sell quickly you may have regrets in the future. And i also advise you to just buy at most 5BTC, |
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