My personal approach, if I had $10000 land in my lap, would be one of two options:
2. Put your BTC into multiple exchange accounts, open a CryptoTrader Pro account, and let it manage the day-to-day trading for you.
Thansk I'm going to look into CT Pro now.
The problem with getting into mining is that your returns over time are the inverse of this function:
https://blockchain.info/charts/hash-rateBuying and holding BTC has proven to be easier and more lucrative for me.
Glad to see someone who knows their stats 101.
I can't remember what machine I snagged this graph from (genisis block) because I'm working on like 10 charts at once right now, but this is exactly what he's talking about above.
Although I have to say that buying and holding 10btc for 10k doesn't sound like a well diversified risk. Maybe when they were less than $400, and even then it was scary.
https://www.evernote.com/shard/s26/sh/d9f823c4-4886-44b3-9c9b-15bd02218c98/d0da39db65fbab32cf85fe1f36e612fa/deep/0/Bitcoin-Calculations.pngClick for large view -
Uploaded with SkitchPlease don't invest in mining without first learning how to compute your expected return. Too many newbies blindly invest and end up losing money.
For example, on cex.io, a popular cloud mining site, 1 GH/s costs 0.074 BTC, but 1 GH/s will never mine more than 0.05 BTC. For every GH/s you buy on that site at that price, you will lose up to 0.024 BTC.
This is true. But odolvlobo fails to include the future-value of the btc and the future-value of the GHS in his calcs. That's the only thing that makes cex.io profitable, if only mildly - hedging on the increase. Which means, in THIS CLOUD situation, I would recommend buying and holding over mining. (Something I RARELY recommend)
