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
After breaking even, I can continue to mine into the future only with the expense of electricity
No time delay, execute immediately
No tinkering with hardware/software
No hardware failure risks
Maybe the break even time takes longer if the DOGE decreases in profitability
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?
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