To Mine Or Not To Mine...
So I could buy a rig, and earn ETN (Coin chosen for this discussion) or do I put the money as a straight investment and HODL.
What and why?
Here is how I see it...
If I buy €2500 of ETN at the rate now, I would have 13.5k ETN
If I HODL this for the next 5 months (150days) and lets say it goes to value €0.50 **(just as a random number) then I would have €7250 and would have made €4750 profit. (THATS IF IT GOES TO THAT PRICE, if it doesn't I'm in greater or less profit)
Lets say I take the mining route:
I buy a RIG worth €2500, and I start to earn 200ETN per day at its current value and if the price was to fluctuate around its current value it would take 207 days (give or take) to make money back and earn €4750 Profits (estimated 35€ per day) and comparing figures over 5 months straight investment.
If the value of ETN increases, will the return per day remain the same? Or will the hash/rate be equivalent to 35€ per day. .
Also minus electrical costs.
If the income decreases per day, I could always switch to another coin to mine, and convert.
Who has the answers? What are your opinions?
By rig I'm assuming you mean GPUs. One of the biggest factors to look at with the rig is that even if the market goes to shit and you have to get out you still have tangible assets (your rig's parts) that can be sold for emergency funding or still be useful for other computing applications etc. This is the biggest determining factor for building a rig for me, that plus newegg gives me credit at cheap rates.
@rodthrower18
Yeaa GPUs ... probably I would go for 6 x Radeon RX 580GB 8GB
Thanks for the comment
The RX580s are good but super rare right now. Alot of people myself included are building lower wnd rigs just bc that's the only gear that's not grossly overpriced right now. If you mine the right algo and hodl a good amount you'll still come out on top.