<p>Get your feet wet with a minimal financial investment first! Assuming you have a Mac and you plan to do the work yourself, and you can't understand this <a href="https://forums.butterflylabs.com/showwiki.php?title=Tutorials%3aHOWTO%20Install%20and%20Run%20MacMiner-%20Version%200%209-alpha" rel="nofollow">Alpha HOWTO</a> for a Mac Platform, you have problems and much of that high end processing hardware is likely to spoil like fresh vegetables from the grocery store staying on the shelf too long. The life-cycle of much of the ASIC hardware hitting the streets is only 6 to 18 months, with some ASIC hardware is still being sold that is a money loosing proposition.  Additionally, because of the <a href="http://bitcoindifficulty.com/" rel="nofollow">Bitcoin Difficulty Factor</a> compounding itself it is "very critical" to get that hardware functioning from day one!!! Your ROI spreadsheet calculations will need to identify the risk of any high end ASIC mining hardware being delivered late. None of the online <a href="http://www.bitcoinx.com/profit/" rel="nofollow">Bitcoin profit calculators</a> provide a clear picture of what the risks of late deliveries really are.</p>

<p>Speaking for myself, and not on the behalf of anyone else (I'm not a financial adviser), I would invest not more than 2% of my wealth, and realize your investment results are very likely to be binary for the long term. Absolutely, don't bet your nest egg.</p>

CC BY-SA 3.0
2013-12-16T00:10:40.653Z
2013-12-16T00:10:40.653Z
skaht
<p>I have $50,000.00 I am able to use to get started mining. I have NO idea what I am doing! Where can I look to have someone help me with this?</p>

CC BY-SA 3.0
2013-12-15T23:37:52.920Z
**Please** do not invest a lot of money in a business you know nothing about. That's just a horrible idea. Instead, invest the money in a business you know a lot about, so that you have some chance of at least breaking even. If you want to make money if the price of Bitcoins goes up, consider buying Bitcoins and holding them.
David Schwartz
CC BY-SA 3.0
2016-04-02T09:13:56.380Z
I'm voting to close this question as off-topic because it is requesting investment advice.
Murch
<mining-profitability><mining-hardware>
Help getting started mining
Robert
# Help getting started mining

(Asked by: username_0 on 2013-12-15)

I have $50,000.00 I am able to use to get started mining. I have NO idea what I am doing! Where can I look to have someone help me with this?

**Tags:** mining-profitability, mining-hardware

> **Comments:**
> **username_1**: **Please** do not invest a lot of money in a business you know nothing about. That's just a horrible idea. Instead, invest the money in a business you know a lot about, so that you have some chance of at least breaking even. If you want to make money if the price of Bitcoins goes up, consider buying Bitcoins and holding them.  
> **username_2**: I'm voting to close this question as off-topic because it is requesting investment advice.  

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## 1 answers

### Answer by username_3 on 2013-12-16. Score: 1

Get your feet wet with a minimal financial investment first! Assuming you have a Mac and you plan to do the work yourself, and you can't understand this [Alpha HOWTO](https://forums.butterflylabs.com/showwiki.php?title=Tutorials%3aHOWTO%20Install%20and%20Run%20MacMiner-%20Version%200%209-alpha) for a Mac Platform, you have problems and much of that high end processing hardware is likely to spoil like fresh vegetables from the grocery store staying on the shelf too long. The life-cycle of much of the ASIC hardware hitting the streets is only 6 to 18 months, with some ASIC hardware is still being sold that is a money loosing proposition. Additionally, because of the [Bitcoin Difficulty Factor](http://bitcoindifficulty.com/) compounding itself it is "very critical" to get that hardware functioning from day one!!! Your ROI spreadsheet calculations will need to identify the risk of any high end ASIC mining hardware being delivered late. None of the online [Bitcoin profit calculators](http://www.bitcoinx.com/profit/) provide a clear picture of what the risks of late deliveries really are.

Speaking for myself, and not on the behalf of anyone else (I'm not a financial adviser), I would invest not more than 2% of my wealth, and realize your investment results are very likely to be binary for the long term. Absolutely, don't bet your nest egg.


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