Quote from: n0madDurwhat on July 08, 2017, 02:36:29 AM

Quote from: btcgolong on July 07, 2017, 03:47:51 PM

A friend wants to get into mining...he knows I use to mine Bitcoin...he has 40-50k to invest into mining rigs.

I told him about the risks...we are meeting later today to talk more about this.

He already has a warehouse...and 50k is not that much to him, but as a business person you never want to lose ANY money.

I think he can make the money back, but it may take 6-12 months; and as you miners know, NOTHING is guaranteed.

What do you think, bad time? Isn't it always a bad time?

Also, what should I charge, I will be doing everything including maintaining the rigs...I was thinking 15-20%.

I am in a scenario very much like yours and am very curious as to where your head is at with it all.

For me, I've been mining as a hobby for a year and a half or so but have been into crypto since I discovered silk road lol.. But I was constantly trying to get my family to shift their holdings into something that offered a more secure store of value with an extremely high upside with prices rising over the years.

Now they've all shown up on my front door wanting to throw money at me lol

Trying to decide how best to go about this mitigating risk as much as possible as even though I have been fortunately successful trading, we all know it might as well be gambling some days. Your input would be greatly appreciated

I'll keep you updated...a lot of the negativity is because difficulty has skyrocketed, but I believe ETH/BTC will all be at record highs by the end of the year.

In our case it's not the 50k that we worry about, it's the "opportunity cost" aspect.