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  1. #1
    Banned ObrahWinfiend's Avatar
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    Buy bitcoins or use that money to buy a competent mining rig?

    As more people mine, the hardware becomes more obsolete, yes? So is it worth it just buying the bitcoins and skipping the mining aspect, since bitcoins grow in value? Kind of confused
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  2. #2
    Live Laugh Love xfirewolfx's Avatar
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    You're kind late OP
    Don't be so quick to throw away your life. No matter how disgraceful or embarrassing it may be, you need to keep struggling to find your way out until the very end.

    *Misc mods get a bad rap, they're pretty awesome (crew)*
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  3. #3
    Registered User doughnutking's Avatar
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    Fuc dat chit, buy yourself a shotgun, head down to the mine and rob dem bishes from all their coins!
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  4. #4
    Banned ObrahWinfiend's Avatar
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    Originally Posted by xfirewolfx View Post
    You're kind late OP
    better late than never
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  5. #5
    INTJ wulpurgis's Avatar
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    bitcoins aren't for investing..... it's literally a ponzi scheme.

    if you buy them, you will inevitably have to sell them or trade them. so if you want to buy drugs or try to hold some for a short period then make some money, that's about the only good reason to have anything to do with them.
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  6. #6
    Registered User Bestfromthewest's Avatar
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    by a rig brah, its really profitable right now srs




    not srs.

    dont fckn bother,
    go get a real job.
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  7. #7
    Registered Nice Guy tmertz's Avatar
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    You're better off going to the penny trader thread
    Kicking the sh*t out of my PE in the gym one day at a time.

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  8. #8
    ☮INFJ♞6w5(so/sp) IEI-INFp lnvictus's Avatar
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    Originally Posted by wulpurgis View Post
    bitcoins aren't for investing..... it's literally a ponzi scheme.

    if you buy them, you will inevitably have to sell them or trade them. so if you want to buy drugs or try to hold some for a short period then make some money, that's about the only good reason to have anything to do with them.
    But you can use them to buy things?
    Disclaimer: There's a 50% chance the post above is not serious.

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  9. #9
    Banned ObrahWinfiend's Avatar
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    Originally Posted by ProsperityBrah View Post
    Yeah OP you missed the boat on the buying btc. It peaked at $260. Don't waste your money on GPU mining. Only ASICs will be profitable now.
    but doesn't it grow in value the more people mine and see it as a legitimate currency? Seems to be better late than never. I'm just wondering whether I use use USD to buy bitcoins, or invest in a mining rig (ie asics)

    I'm mining with one GPU right now, but I think I can get more running
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  10. #10
    INTJ wulpurgis's Avatar
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    Originally Posted by lnvictus View Post
    But you can use them to buy things?
    so they introduced a finite number of bitcoins.

    people, call them "Russian drug dealers" were willing to trade items, call them "drugs", for the bitcoins.

    so, people were willing to buy bitcoins, then trade them to the "Russian drug dealers" for "drugs". just a hypothetical.

    then the "drug dealers" can sell the bitcoins to people for cash, those people can then trade the bitcoins backs for "drugs", etc.




    it's a great system because all the authorities can see is that you buy bitcoins. then, whatever other transactions follow are anonymous. and you can in principle buy anything with bitcoins.

    the problem is the volatility.



    a "friend of mine" bought $159 of bitcoins. he tried to make a purchase, but the order was cancelled. he then found out the bitcoins had dropped in value, so that his purchasing power shrank. since the item he wanted to buy was listed in US $$, the item kept a constant price, but the bitcoin price will fluctuate a lot, and if you have "old bitcoins" they can radically go up or down in value on you.
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