Bitcoins/Litecoins and mining

Getting into mining these days pretty much means waiting for the launch of a new altcoin or trying your luck at mining some recently profitable coins at a merge-mining site. So the best way to get and earn bitcoins is to buy it then trade it around or invest in small time loans. Though for both of those have their own inherent risks and it's really easy to lose a large amount of coins because of market fluctuations and someone not paying right.

 

I have a fear of using Bitcoins and litecoins because it's all so new and I never got the hang of it. Also it has a bad reputation in the mainstream.

 

Too much competition to even slightly consider it, man. Litecoins are alright to mine and not so devastating for the computer, but Bitcoins are just impossible to mine if you don't have a special PC built around that and in which you haven't invested all your life savings, ha, ha. But of course the latter is more rewarding.

 

Unless you know the deep secrets of coin mining it's not worth it. Mining has been substantially dropping and at this point you lose more than you make.

 

Your electricity bill will be more expensive than the coins are worth. Thats why you do it with solar technology, then maybe it would be worth it. I mined doge coin for a little while, it was pretty cool. More money to be made in the trading of the currencies with market fluctuations, although this is pretty boring unless your really into finances and such.

 

I have a few bitcoins but they're not enough for an investment. I don't think mining them is efficient, in terms of time and money. It just takes a high hardware and years before you can even earn a decent amount with mining them. Better to buy them or earn them from sites.