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Topic: Want to start mining (Read 1778 times)
MichaelBliss
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Re: Want to start mining
August 18, 2014, 03:32:42 AM
#21
Stay away from pre-orders! Many don't deliver on time but worse yet is you may end up waiting, and waiting, and waiting, only to end up joining the class action lawsuit against the pre-order scammer who didn't deliver.
odolvlobo
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Re: Want to start mining
August 18, 2014, 04:30:19 AM
#22
Quote from: Bitsaurus on August 17, 2014, 10:14:12 PM
DO NOT CLOUD MINE!
- it centralizes the network which is bad for crypto.
Cloud mining centralizes the network no more than mining in a pool.
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notlist3d
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Re: Want to start mining
August 18, 2014, 05:58:14 AM
#23
Do roi math. Stay far away from pre-order.
Depending on your electricity you can ROI if done properly, but there are many factors. For starting i highly suggest staying with straight BTC miner, not Scrypt. You do need to have electricity at a decent price with current BTC price.
If your in it for long term and can make more BTC by mining do it, if you are in for short term buy btc straight out. Normally i say mine mine mine, but if short term price on BTC is very attractive. All depends on goals.
BTCmaster3
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Re: Want to start mining
August 18, 2014, 06:29:23 AM
#24
I prefer to buy BTC directly now as it has dropped to $490 range... not worth buying mining gear..
Nawaytes
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Re: Want to start mining
August 18, 2014, 07:59:36 AM
#25
Quote from: BTCmaster3 on August 18, 2014, 06:29:23 AM
I prefer to buy BTC directly now as it has dropped to $490 range... not worth buying mining gear..
indeed,
with the current level of difficulty, very costly to mine directly, or cloud-mining. take so long to get ROI.
prefer direct buy BTC because prices are fall, hold the BTC, then sell if the price up again.
as my experience, I suggested it.
richardramirez9
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Re: Want to start mining
August 18, 2014, 09:27:09 AM
#26
The mining game is over for newcomers. You should shall search an alternative way of income imo.
Lieji
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Re: Want to start mining
August 18, 2014, 04:52:57 PM
#27
Quote from: BTCmaster3 on August 18, 2014, 06:29:23 AM
I prefer to buy BTC directly now as it has dropped to $490 range... not worth buying mining gear..
A few hours ago, the bitcoin price hit $309 on btc-e after someone made a huge sell order.
I wish I have made some limited orders at that price level lol.
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Scoremaster
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Hi I am back from a long period of away time :)
Re: Want to start mining
August 18, 2014, 08:41:43 PM
#28
Quote from: Kieran Bass on August 17, 2014, 04:31:27 PM
I want to start mining and have enough money to invest in the new technology what do you guys suggest before going ahead with it?
miners are not worth it, dont buy any! buy bitcion while it is cheap and hold! u lose money on miners
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notlist3d
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Re: Want to start mining
August 18, 2014, 11:32:08 PM
#29
Quote from: Scoremaster on August 18, 2014, 08:41:43 PM
Quote from: Kieran Bass on August 17, 2014, 04:31:27 PM
I want to start mining and have enough money to invest in the new technology what do you guys suggest before going ahead with it?
miners are not worth it, dont buy any! buy bitcion while it is cheap and hold! u lose money on miners
Do ROI you do not always lose money. It has become harder in the life with asics to ROI. Electricity price can have a lot to do with roi.
Right now BTC is very cheap though so its hard to beat buying some. I am in it for the long run still running in profit because of low electricity prices and will keep mining.
zadiume
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Re: Want to start mining
August 19, 2014, 03:23:41 PM
#30
Buy Bitcoin while it is still sub 1k
Mobius7
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Re: Want to start mining
August 19, 2014, 07:48:23 PM
#31
Quote from: Kieran Bass on August 17, 2014, 04:31:27 PM
I want to start mining and have enough money to invest in the new technology what do you guys suggest before going ahead with it?
Double check your expected return on
https://bitcoinwisdom.com/bitcoin/calculator
before buying the miner.
Don't buy any pre-orders.
Do some google searches to make sure the company you are dealing with is not a scam.
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monim1
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Re: Want to start mining
August 20, 2014, 03:51:36 PM
#32
I think you should take your decision seriously. You should take your time and then go what is right for you. Do you think about cloud mining. I am involve with cloud mining.
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