You could just go the casino and put $2K on red on the roulette wheel. What you are scheming is pretty much the same thing.
I don't think that mining is profitable anymore. But you can try with something, and then see if it will pay off.
You are wrong
So I was looking on Ebay. I've been into cryptocurrencies as of late. I feel like they have great potential in the world, once they stabilize. They are getting there, and I believe that, like the internet, in a few years, everyone will have at least SOME cryptocurrency.
I seen an Antminer S2 on Ebay, for about $2000, so I bid on it. I was talking it out with my mom, and she kind of freaked out at it. I ran the numbers. In 12 months, you would triple your investment, that accounting for electricity and initial investment. So several thousand profit. Now I know, Bitcoin could crash, and you could lose that $2000, but here it goes...
We are relatively poor. For us, $2000 is not a "small" amount of money. We could put it down without too much trouble, but we can't truly "afford" it. My mom started screaming at me about this.
Even if bitcoin crashed, you would break even in about a year. But what if it went way up? You could make quite a chunk of change. 10x investment or much more, but asking for more than that is starting to get outlandish.
What if when bitcoin has finished production through mining, it suddenly becomes in-demand and people suddenly realize "Hey, there are no more of these, let me buy a bunch!"
Bitcoin would now have a greater value, and would likely rise significantly. We can speculate on how much, but that's usually how it works...
I just feel that the potential for massive profit is greater than the cost/risk of losing the $2000... Right?
