Investing in crytocurrencies

[HavocXphere]

Suppose you wanted to invest a decent chunk of money in them for say 5 years - how would you go about doing that? Which ones and why?

 

[Thor]

Bitcoin and Ethereum.

Bitcoin ease of use and practical use cases.

Ethereum as its the next big thing and will surpass bitcoin, it won't replace it, two completely separate uses.

Bitcoin = Borderless cash
Ethereum = Subscription services etc.

 

[HavocXphere]

Ethereum seems to have lots of hard forks though? Can't tell what's going on there from a quick google

 

[Peon]

I am investing as well. I wont say how much but I will be mining Ethereum.

MyBB seems to be interested in Cryptocurrency of late. Im very keen as well. Could MyBB not start a forum area for it if enough people are interested.

 

[Thor]

I am investing as well. I wont say how much but I will be mining Ethereum.

MyBB seems to be interested in Cryptocurrency of late. Im very keen as well. Could MyBB not start a forum area for it if enough people are interested.

There are plenty of forums and plenty of threads about it both on and off mybb not to mention reddit a whole subjection will be overkill as it would attract so much scams and pyramid schemes.

 

[HavocXphere]

I am investing as well. I wont say how much but I will be mining Ethereum.

MyBB seems to be interested in Cryptocurrency of late. Im very keen as well. Could MyBB not start a forum area for it if enough people are interested.

Mining seems pretty slow to me, no?

Then again not paying for elec at the moment so might consider it. Not gonna get far with a 860M though

 

[HavocXphere]

Scratch that seems to work out at half a dollar a day. Not worth it

Just going to buy directly

 

[Thor]

Scratch that seems to work out at half a dollar a day. Not worth it

Just going to buy directly

Correct. You are 5ish years to late for small scale mining.

 

[Nimz]

Unless you invest in a rig for 30k which gives returns of +- R5000 p/m excl electricity costs

 

[Swa]

Ethereum. Bitcoin has run its course and nobody knows what's going to happen next. The way to go is mining though. For R20k you'd have made R4k/month just over two weeks ago. Now you'd make around R7k/month if the current price holds. Ordering my rig next week.

EDIT: Just saw the comment about not paying for electricity. I'm not judging and don't really care but if somebody is paying it for you I'd say it's not worth it if you can't make more than that but otherwise go for it and at least you'd get the experience.

 

[Idiosyncratic]

Ethereum. Bitcoin has run its course and nobody knows what's going to happen next. The way to go is mining though. For R20k you'd have made R4k/month just over two weeks ago. Now you'd make around R7k/month if the current price holds. Ordering my rig next week.

Wow, what kind of rig are we talking about Swa?

My one thing about mining has been internet... Will I need a very large cap?

 

[HavocXphere]

Ethereum. Bitcoin has run its course and nobody knows what's going to happen next. The way to go is mining though. For R20k you'd have made R4k/month just over two weeks ago. Now you'd make around R7k/month if the current price holds. Ordering my rig next week.

EDIT: Just saw the comment about not paying for electricity. I'm not judging and don't really care but if somebody is paying it for you I'd say it's not worth it if you can't make more than that but otherwise go for it and at least you'd get the experience.

Yeah don't plan on abusing the free elec.

More interested in making a long range bet on crypto currencies

 

[Swa]

Wow, what kind of rig are we talking about Swa?

My one thing about mining has been internet... Will I need a very large cap?

At $45 it was ~R1000 per RX470 or RX480 card. The price now sits at $80. Electricity if you pay for it is about R500/month for a 4 card rig if my calculations are correct. Will have to check when I get a Watt-meter. I'm planning 4 card rigs as the components to support it are more readily available and sub 1kW PSUs are much cheaper.

Cap would be about 100GB initially if you plan on downloading the blockchain. If you mine in a pool however you don't need to do that and the cap is less than 1GB/day.

 

[Swa]

Yeah don't plan on abusing the free elec.

More interested in making a long range bet on crypto currencies

Cool

 

[saturnz]

investing in currency...

the financial system is truly an illusion if this is what it has come too

 

[HavocXphere]

investing in currency...

the financial system is truly an illusion if this is what it has come too

Illusion indeed. Things are worth whatever we agree upon as their worth. Well until it comes crashing down.

Yes yes I know property

Still I think betting that crypto will be on an upward trend for another 5 years strikes me as a decent bet

 

[saturnz]

Illusion indeed. Things are worth whatever we agree upon as their worth. Well until it comes crashing down.

Yes yes I know property

Still I think betting that crypto will be on an upward trend for another 5 years strikes me as a decent bet

its been 10 years since the last crash, and the major crash before that was the Asian crisis of 97

so yeah I'm expecting a crash within the next five years, what impact that will have on bitcoin (or property) is unclear, but in times of volatility one makes the most return

 

[Idiosyncratic]

At $45 it was ~R1000 per RX470 or RX480 card. The price now sits at $80. Electricity if you pay for it is about R500/month for a 4 card rig if my calculations are correct. Will have to check when I get a Watt-meter. I'm planning 4 card rigs as the components to support it are more readily available and sub 1kW PSUs are much cheaper.

Cap would be about 100GB initially if you plan on downloading the blockchain. If you mine in a pool however you don't need to do that and the cap is less than 1GB/day.

Wow, not bad at all! What sort of rig are we talking about? You're buying complete?

I understand that pool mining is the way to go?

 

[HavocXphere]

its been 10 years since the last crash, and the major crash before that was the Asian crisis of 97

so yeah I'm expecting a crash within the next five years, what impact that will have on bitcoin (or property) is unclear, but in times of volatility one makes the most return

Kinda derailing my own thread here but what do you think of REITs?

 

[Swa]

Wow, not bad at all! What sort of rig are we talking about? You're buying complete?

I understand that pool mining is the way to go?

Solo mining is actually the way to go if you have a powerful enough rig(s). Pool mining will become the norm if it becomes too difficult. What matters most is the GPU power as Eth seems heavily locked to GPU memory. I was planning Sempron rigs but have reverted back to my original Ryzen idea as that'll have better resale value. Still trying to source some cheap 8GB RX480's as these seem to have become as scarce as hen's teeth.

Not part of the topic but I would like to see what's going to happen if Eth ever becomes too difficult to mine as there is nothing to level up to unlike with Bitcoin.