Request: Suggestions on Where To Put $1000

[BTCish]

Put that money in coins, it willbring you back your money faster.

[ChuckBuck]

Smart money says nowadays to just put that $1000 in a high interest savings account or CD.

If you're feeling froggy and believe in Bitcoin, then purchase about 5 BTC at this roughly $200 pricetag, transfer them in cold storage on a paper wallet or hardware wallet, then put them in a fire proof safe, wait 10 years, then pull them out to see if they're still worth anything once the technology matures.

Right now, BTC price swings in only one direction (down), so speaking as of right now, in 2015, BTC isn't a wise investment until the dust from all the growing pains settles...

[Cummins59]

Do NOT buy BTC until is is $183 - $195 range. It is testing its lows and does not have any support right now. It could easily drop to this level within the next week unless something positive happens.

You should have listened.............once this level breaks, here comes $127

[alh]

Smart money says nowadays to just put that $1000 in a high interest savings account or CD.

If you're feeling froggy and believe in Bitcoin, then purchase about 5 BTC at this roughly $200 pricetag, transfer them in cold storage on a paper wallet or hardware wallet, then put them in a fire proof safe, wait 10 years, then pull them out to see if they're still worth anything once the technology matures.

Right now, BTC price swings in only one direction (down), so speaking as of right now, in 2015, BTC isn't a wise investment until the dust from all the growing pains settles...

This is probably the most accurate response. I know it's a downer to "not do anything with Bitcoin", but the present climate just doesn't support much else. The "Buy X coins and see what happens" is strictly a gamble. You could look before 10 years is up. but it might all be worth zero, or nearly zero, at the 10 year mark. Quite frankly I expect that it will be an easy decision in 10 years. If Bitcoin isn't well above $200, it will be closer to zero (IMHO).

[GigaBit]

Go to a Las Vegas, find a nice casino, take your grand out, find a craps table and bet on black red.

Hope your 50% bet wins... if you lose at the casino at least, you're only down a grand.

So, pick your poison.

Bitcoin mining's the same thing, except you have to pay the slot machine's electricity price.

You just have to hope your slot machines makes enough to pay for its power use by the time the bill comes in.

If anything, just buy coin.

[Rum152]

You need to take into consideration the cost of your electricity. If you are buying miners then unless you plan on selling some of the bitcoin you mine to pay for your electric costs then you need to put aside additional amounts to cover these costs.

You also need to take into consideration the fact that S5s tend to be very loud, so you would want to put them in a place away from where you spend much of your day.

Mining is generally considered to be very competitive and margins are paper thin. I would not expect to be able to profit easily if you are considering investing in miners