Quote:
Originally Posted by hjnet
So I want to get into Bitcoin mining, I only want to get a little piece of the cake and risk about $1000, maybe $2000.
Is Mining worth it? Or should I just buy 0.1-0.2 BTC and forget about mining?
Thanks
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Hi hjnet,
I did some digging into this about a month ago. Here's what I learned.
If you want to mine bitcoin on a computer, you need one with a few ultra fast graphics cards. You can set it up and let it go on its own and expect to make about $1.50 per day per graphics card.
If you want to get serious, you can buy a dedicated bitcoin miner, but there's a catch. Only the fastest miners are worth the money. This is because as things move forward, bitcoins are harder and harder to mine, requiring more and more computer power. Second hand mining hardware isn't worth anything.
To do it properly, you would have to buy the fastest miner, use it for a few months, and then replace it with a newer, faster one, and sell your old one. Unfortunately your old one isn't really worth anything so the person who might buy it would have to be in the dark about it.
It's kind of fun as a hobby or to just play around with, but the only way to make money mining is to have alot of fast dedicated miners running 24/7 on ultra-cheap electricity (they use alot, generate alot of heat and alot of noise).
If you just want to make money in bitcoin, just buy some. Checkout
https://coinsquare.io or coinbase, though, I don't like coinbase.
Good luck!