Post
Topic
Board Beginners & Help
Re: Best way to invest $5,000 USD
by
odolvlobo
on 28/11/2013, 05:05:09 UTC
I think the way you are going about this is going to end up costing you money. Are you really going to invest your money based on what random people on the internet tell you? Investors that just throw money at something they know nothing about generally lose that money. Just look at all the newbies that spent thousands of dollars on mining equipment only to discover that they will never make a profit.

Learn about the industry first, then think about what to invest in.

Also I am wondering about the mining is dead statement..  Is it really dead?  Isn't mining critical to the bitcoin universe since it is how transactions are processed and new coins are made?  There must still be profit there to keep people interested?

This is what I'm talking about. You are ready to throw money at bitcoin mining without even knowing if you will ever even get it back. Then you go and listen to some yahoo that says "mining is dead". You don't understand what he means and I suspect he doesn't either. Mining is not dead. There is more computing power devoted to mining bitcoins than anything else on this planet. It is certainly not dead. Can you make money mining? Probably not, especially because you don't know anything about it.