Mining or Buying?

Can't really say because no one knows the future, I'd say to invest, takes less effort and you can make potentially more short and long term money than mining

if your projections beat your APR, then you have nothing to lose. Go all in with your credit limit IMO.

GPU mining is probably the safest way to crypto, especially if you manage to find some gpus at non-inflated prices.

>>3272618
Figures. I do get a flat electricity fee where I live though and free internet.

>>3272665
The APR would be around 20% thats pretty rough to beat.

>>3272703
All GPU markets are inflated at this point and I'd rather not get GPUs from chinkshit gen because no returns no repairs.

I have the option to get an antminer S9 for 1000.

>>3272766
Are you going to start mining bitcoins?

>>3272785
yes. Unless someone here provides a form of passive income that can beat a 13th/s miner with minimal capital investment. It'll be enough to pay the credit card and I can save on the side. Potentially mine other coins too.

File: Hash Flare Profit Calculator.png (127KB, 1664x784px) Image search: [Google]

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I fell for the Crypo Cloud Mining meme.

Spendt $3,000 for 25Th/s
Every time it pays me ~$23
It Buys More Hash Power

Assuming the Bitcoin Stays at $4,500, I would be Increasing my Hash Rate by .77% every day, meaning it will compound once a day.

By the end of the year I would have ~100Th/s Worth about $12,000.00 Capable of making $88 a day Assuming Bitcoin Stays at $4,500

I hope BTC catapults into 10K+ Territory. That would put me into $500 a day.

>>3272844
If you buy the anitminer S9 which is an ASIC miner you won't be able to mine other coins, other coins requires a gpu to mine.

>>3272959
Goes to show how much more research I need to do. Thanks. I do have a place to buy GPUs in bulk but there's a minimum buy order.

Any coin you would recommend for alternative mining?

>>3272952
Is the compounding th/s part of your contract? No way to make it stop? Do you get any details on how the mining center works or of they're part of a pool?

>btc at 10k
I'll unironically kms that day

>>3273032
Yeah, that's an option and you can change it any time you want.

I don't need the money right now, So I'll let it compound for a year and see what happens.

Now I also Have Genesis Mining, which has lower maintenance fees of .28 vs .35 Returns $14 every day for $1,9000 That Should return $5,0000 in a year assuming BTC stays at $4,500 which I don't think it won't. It will see Maybe $6,000.

Think of it like Buying BTC in the Future. It ill get to 1 BTC in a Year. It could be Worth $6K $7K $8K???

Doing all the Investment memes, Trading, Mining and Holding.

So Far Mining and Holding have been making good returns.

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>>3273032
Forgot Pic

daily reminder that cloud mining is a ponzi scheme
*all* of them

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>>3273032
>Do you get any details on how the mining center works or of they're part of a pool?

Yeah, you can change pools.

I got all my Hash Power directed to BTCC, it have been making the best returns so far.

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>>3273032
>Do you get any details on how the mining center works

Yeah, Both Genesis Mining and HashFlare have social media outlets and keep in touch with their customers. Along with Pics and Video.

https://www.youtube.com/watch?v=2Jqf_wZKFCc

Why tho

>>3273032
first of all I wouldn't recommend you to buy an ASIC mining hardware its really difficult to make profit. If you must go mining for coins go for coins like Ethereum and OMG, also know there always a risk involved, if the coin you mine drops in value it will ruing your profits.

>>3274186
will crypto crash in the near future I kinda wanna do what Ops doing

>>3274898
highly unlikley, theres over 100 coins growing, you can just buy the coins like Ethereum andd sell them when they are at a high price. Just like buying real gold at a low price then selling it at a high price, its the exact same thing with crytpo

How is mining taxed in the US? Really considering mining ETH at this point, I want a passive way to add to my gains without buying more directly.

>>3275034

Its considered an asset, so you still have to pay taxes on it.

>>3272959
ASIC refers to the algorithm, not the coin. So yes, you can mine other coins but only those in SHA256.

>>3275211
not unless you money luander, just slowly widthdrawing

>>3274983
But if I'm using credit how much should I start with for some kind of decent return? I have 500000 of some random no name coin it was a gift and an ether wallet. So nothing.

I'm thinking 2500 to 5000 USD? On the other hand I have the knowhow to build a portable multiGPU rig in a discrete custom case, this means bringing it to libraries to unis and using it there wouldn't be a problem.

>>3275260

More like felony tax evasion which is can gain you 5 years in prison plus a fine of more than $250,000 if not more.

The IRS will get their money, doesn't matter how.

>>3275336
It you want to go the mining route you'll need to buy marked up priced gpus, you can also invest in the stock exchange while you do that too though

>>3275211
So it's capital gains?

>>3275488

Pretty much.