Monday 30 October 2017

My friends' brother is about to spend ~$6k on mining equipment, bad idea?

So my friends brother (16 or 17 yrs old and no job) is gonna take a $6k loan from someone else and spend it on mining equipment (probably 3 s9's). I'm thinking that this is probably a bad idea especially since he doesn't have any money to begin with but he's saying stuff like I already did all the math and it's gonna get 45TH/s and its gonna be super profitable. I know that it is profitable right now but won't the difficulty go up as time goes on and what if the value of Bitcoin falls a lot? He also hasn't told his parents yet and I'm thinking that'll be a HUGE issue when the first power bill comes (and he either gets shut down or has to start paying for power)

What do you guys think?

EDIT: word



Submitted October 30, 2017 at 10:37PM by TrentFisher6 http://bit.ly/2gWRjZZ

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