Post
Topic
Board CPU/GPU Bitcoin mining hardware
Re: I have $40,000 to invest
by
||bit
on 07/09/2013, 06:51:18 UTC
Hey folks, I have a spare $40k

I want to know if its worth it to buy a mining rig and if so, what should I buy and how do I run it?

Or is it better just to put the cash into bitcoins and just sit on them for a few years?

I want to try mining just for fun, but am a complete noob.

Someone please enlighten me.

Note, this is cash that I can afford to lose, but obviously I'm looking for a profit Smiley

If you're speaking of Butterfly labs mini-rig, then absolutely no. The only mining hardware worth looking at right now is BitFury 55nm hardware and 28nm hardware (my choice would be Cointerra). That said, what you can do is this: Order Bitfury or Cointerra hardware now. When you receive it, then sell it immediately. You will most likely be able to mark it up 50% and find a buyer pretty fast. You could also mine with it, but reselling for a profit isn't a losing path.

Other than that, then just buy bitcoin. It should go up eventually as bitcoin is more adopted widely (i.e. more demand for bitcoin builds).

A third option to evaluate is to put some funds to work in a mining operations (like Lab Rat Mining) [disclosure: I have an interest in Lab Rat Mining] and receive dividends on company "shares" or "bonds" from the company doing the mining for you. And if the company does well, you can resell those "shares" or "bonds" at a higher price, but of course it carries risk like any other investment. I've been following Lab Rat Mining pretty closely, and it looks to have decent potential in it's start-up phase, so far.