Hi Everyone,
I'm new to cryptocurrencies and would like to know your opinion on what best to do with my $6000.
I was initially planning on purchasing a GPU mining rig with gtx 1070s but then upon further research found that 1070s can only do 600-700 sol/s
Then I found the asicminer equihash which can do 40,000 sol/s and costs $14,800 which will be released on July along with new nvidia generation cards.
I know its a bit late now to start but I am really thinking hard on this but I need opinions from veteran guys.
tl:dr;
1. Should I buy bitcoin with my $6000 or
2. Use it to buy a 1070 GPU mining rig or
3. Wait until July for new nvidia graphics card to come out (or the asicminer equihash).
Thanks so much for all your feedback.
*Edit: Would like to inform everyone that electricity costs would not be a problem as I have a way to manage it. Considering that electricity cost is not an issue, is mining going to be profitable for me right away?
First of all you must about all the requirements..Yes you can invest to buy a miner...But have you noticed the cost of electricity in your area ..What will you do if the profit you are making is less than the bucks needed to give the electricity bill...If you are having enough solar power then you can use that instead of direct electricity...And now comig to trading...Yes in trading you must be careful...You have to keep watch on all the price chart and get an assume of the price change...You will gain experience when you will trade...even there are many apps which will notify you when there will be any price change in cryptocurrency which will help you a lot.