Seeing as how its now Monday in most the world....Merchant Monday 06/07/2014
I have taken over this post during KLAM3R0N's absence. I am open to suggestions or any missed merchants/services being added. PM meThis post is updated Weekly If I'm missing anything, or something needs to be changed PM me, or comment below. Buy anything* online services:
Buying in right now will give greater benefits than mining. The reason for this is the overall value of crypto currencies over time, in relation to the mining difficulty. Over time they all equal out. Look at LiteCoin, it's mining profitability is not much, but it's constant. Over the summer, I mined LiteCoin and earned 1/3 of what I am making today. If you use those numbers it might take twice as long to pay off a mining rig.
After the block halve, it'll be twice as hard to mine, but just as easy to buy. In fact, with the olympics coming up, there'll be a whole lot more DogeCoins in demand (depending on the free advertisement) (Much Gold)
Pre-Block Halve and Pre-Sochi, I'd recommend buying coins through Cryptsy or another source (They're not even paying me for this)
After the boost from the Olympics it might be a good time to sell while the hype is cooling down. Additionally, most crypto currencies take a hit around April or May.
I keep falling into this pit almost every day. It's better to let somebody find DogeCoin naturally, let's put it this way, if somebody joins the community tomorrow, will it be better than today? It's better people see DogeCoin when it's established and when issues are resolved (Such Reference Very Bad Update) Remember, Google didn't advertise for a long time, they had the same mentality.
As more and more people start to see DogeCoin around the world, it's opening up opportunities for DogeCoin's flaws to be exploited for news related purposes.
When to buy into mining rigs
At last you're to the point in this post you might really enjoy. So I'll break it down.
DO NOT BUY DURING A HYPE (Very Caution)- Right now is a good example, DogeCoin is worth a lot to mine and people think that they can make a quick buck by buying in right now. This will pass as the price drops down and the profitability of mining will drop too.
Buy in when the component prices are low - usually a few weeks after the reality sets in for most miners that their not going to make tons of cash. Returns and sell-offs happen quite quickly then.
Follow my lead - no seriously, I've spent tons of time over the past year researching (Crunching numbers, building estimates, payoff graphs, etc.), crypto currency mining and I know that my work has paid off.
Ultimately, can tell you when I see the value of buying a rig, but at the moment, it's not worth it.
(IF YOU WANT TO BUY A RIG RIGHT NOW, I CANNOT STOP YOU) If all your going to do is complain, just buy it.
What Development? (Shibe Emmet Brown)
I am working on a few things that will be absolutely amazing. (We're talking Mind-blowing Awesomeness) but don't have the capital, so it's going to take awhile. I would go through a crowd-funding website, but people could easily rip off my idea if they had more skills in some areas than I do.
Having troubles with the website and will work on that over the weekend
The P2Pool mining node is supercharged, check it out!
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