mining vs buying

A

Adam B

Newbie

May 29, 2016

41

17

• Sep 17, 2017

• #1

I am new to crypto and see the huge swings in value on bitcoin. I am not sure if forum rules allow to post other website so I'll leave com out.

Has anybody used cryptomining247 or is a mining service like that a waste of money and just cheaper to buy coins?

 

4WardThinking

Registered Member

Sep 15, 2017

96

25

• Sep 17, 2017

• #2

if you're going to mine just buy a ant miner, invest and reap the noise and heat. Don't buy unless you're really watching live stats. Cryto is just another currency, so i'd try a Forex test account and really get the feel of home insanely difficult currency exchange can really be. I'm not doubting you can't of course many people are successful. but at the same time you could lose your investment in a matter of a few trades.

 

hero76

Elite Member

Oct 20, 2016

1,580

485

• Sep 17, 2017

• #3

An antminer with power supply will set you back about $2500.

It will take 6 months to break even roughly at .10 kwh

If you invest $2500 in btc today its almost certain to nearly double in 6 months. Take your pick!

 

dog-tag

BANNED

Oct 19, 2010

822

925

• Sep 19, 2017

• #4

You rather buy them and trade, and you can get 300% just by using the auto trading bots out there

 

A

Adam B

Newbie

May 29, 2016

41

17

• Sep 22, 2017
• Thread Starter Thread Starter

• #5

Where can I locate auto trading bot?

 

MyGirlfriendIsaPBN

Regular Member

Mar 22, 2016

416

63

• Sep 25, 2017

• #6

Really depends on the coin you plan on mining and how the market ends up doing. I'd do both if you have the chance imo

 

Davidian

Registered Member

Feb 9, 2011

77

13

• Sep 25, 2017

• #7

Stick with trading. Imo majority of those services is shaving earnings. If you have many computers you can mine monero, using up to 50% of your cpu.
Hope I helped a little bit.

 

A

Adam B

Newbie

May 29, 2016

41

17

• Sep 25, 2017
• Thread Starter Thread Starter

• #8

Thank you for responses. I'm assuming I hae a lot of reading to do and its not as simple as just going on localbitcoins buying a coin and selling it when the price goes up.

 

Davidian

Registered Member

Feb 9, 2011

77

13

• Sep 25, 2017

• #9

No of course not. You should visit crypto coin based websites and forums mostly. You’ll probably find better exchange rates there.

 

Borgia

Newbie

Sep 24, 2017

15

6

• Sep 25, 2017

• #10

Adam B said:

Thank you for responses. I'm assuming I hae a lot of reading to do and its not as simple as just going on localbitcoins buying a coin and selling it when the price goes up.

Click to expand...

Keep in mind, there a lot of analysts that say Bitcoin is currently in a "bubble". I would research heavily before making a decision. That money can go into safer and more proven investments.

 

D

Daniel Mosquera

Newbie

Jun 6, 2017

10

0

• Sep 25, 2017

• #11

Bitcoin is dangerous, because a high status CEO said it was bad it dropped nearly 1k in a day. Very unstable.