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giant_cheesepuff

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Posts posted by giant_cheesepuff

  8. Posted

    2 hours ago, Raw said:

    What about some other cryptocurrencies like Etheurum? Investigate in those, dunno if its profitable tho. @giant_cheesepuff probably knows that :)

    Etherium is on the rise and is expected to continue rising but I personally wouldn't invest in it at the moment as it may follow the current drop along with bitcoin. If you are looking to invest in any crypto currency then watch the prices every day for a week or so and then try and grab some when they are on a low so long as the general trend is still on the rise.

    Once again, You have a very high risk of losing your investment with crypto currencies as they have no physical worth and are therefore reliant on there take-up and "community". Only invest with money that you are willing to lose.

     

    VENGA BUS reacted to this

  9. Posted

    2 hours ago, VENGA BUS said:

    I don't think so sniffles, tbh. I'm not expert but given that there is less risk in investing in it now, it's doubtful you'll see the significant gains earlier and less risk averse investors did.

     

    Edit: also the electricity costs you take on when mining will probably outstrip the gain. That's from memory tho

    You exactly right about the mining. Your very unlikely to make any sort of reasonable profit without investing large amounts of money into something called an asics miner which is a machine dedicated to mining crypto currencies. The difficulty of bitcoin is also far too high currently to make any sort of GPU mining worth it without having 15-20+ GPU's running constantly.

    If you really want to mine then you will be better mining a smaller currency like Etherium, Lite coin or doge coin as you will be able to mine more coins with a lower initial investment. You will get more money in the long run which you can then invest in bitcoin if you are looking at getting into the current hype as they are currently at a low point in an expected rise.

    There is a very high risk with investing in any crypto currency however as the price solely rests on demand for the currency. Hence the roughly 1500$ drop in bitcoins over the last month. Invest at your own risk.

    Sniffles and VENGA BUS reacted to this
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