I have been thinking about buying a new GPU for my scrypt based mining rig. But I wonder if buying some DOGE and trading it would be best. Below is a brief analysis between the two options.
Option 1 - buy 7950 for ~ $330
The estimated break even is 3.3 months using a $100/month profit mining estimate
Option 2 - buy $330 worth of DOGE
Dogecoin purchases about ~210000 coins using .5 BTC with BTC Trading at $635 as of 2/17/14
Advantages
Option 1
After breaking even, I can continue to mine into the future only with the expense of electricity
Option 2
No time delay, execute immediately
No tinkering with hardware/software
No hardware failure risks
Disadvantages
Option 1
Maybe the break even time takes longer if the DOGE decreases in profitability
Option 2
DOGE appreciation is not guaranteed
I can loose principal, therefore affecting my profitability
Conclusion: I'm leaning toward buying a new GPU. Do you agree with my analysis?
Like this post? Tip me with bitcoin!
1BzcwV2cWykXDQQgPdBd4gpbwiB8JYLv31If you enjoyed reading this post, please consider tipping me using bitcoin. If you want learn all about bitcoin, please see letstalkbitcoin.com/learn. Do you need bitcoin? Get them from Coinbase.com
You can also donate Feathercoin to this address FTC:6qVGuJwGnB98d42CY1bKyrGGFeKmqF4wGr
No comments:
Post a Comment