Topic: are people actually still buying new rigs? - page 2. (Read 3545 times)

Why? The difficulty will just increase fast enough to make those unprofitable also, it is the way the system was designed.

i thought the consensus was that FPGAs, while using less electricity, cost significantly more per hash and thus
it would take a severely long time to recoup your investment at this time. If i recall correctly.. i could probably
get started with a setup for around 600 dollars that will do 100 mh/s if i remember reading that correctly.

That is why ASICs became so interesting to folks around here. Same power usage about.. but many more hash
per second.

I can be completely wrong about FPGAs though and do not recall the main thread correctly.

there has to be a something far mroe superior to gpus and cpus that will make mining worth while.

Factor in difficulty increasing 50% every 10 to 14 days with no increase in BTC's value.  The last two 50% increases the average BTC/USD$ exchange rate has actually gone down, not up.  Yet the hash rate has doubled with more capacity being added daily.  People are adding capacity regardless of pay off.  I wager we're starting to see a major uptake of FPGAs.  Some on this forum will deny it, others have thrown about dates of September before FPGAs are likely to make a big impact.  I say it's happening now, and those mining professionally with FPGAs are not going to share their designs (why should they) and won't tell the world about what they're doing (don't want to spoil the party).

I read stories about people spending $10,000 on mining rigs and setups and I can't help but shake my head. I think their only chance at recovering their costs is to sell their equipment, or accept they're rolling the dice on the long game for bitcoin.

Personally, I spent $199 on a new video card a couple weeks ago when after watching the bitcoin market for a while, decided it was worth making the initial investment to see where it goes. In that time, I've recouped most of my investment and am looking at how to handle things going forward.

At the current (and upcoming) difficulty level, I think CPU mining should be a thing of the past (unless you have suuuper cheap electricity). Additionally, GPU mining will become less profitable and it will take people longer to recoup their investments.

So honestly, I think after the next difficulty increase, it wouldn't make sense to invest money for the sole purpose of mining. The people who stand to make the most money are going to be the early adopters who have already made back their investment and everything from this point forward is pure profit.

At the current difficulty level, even my home computer is able to pull in about $1,500/yr in profit. After the next increase, it's going to drop to an estimated $910/yr in profit.

So really, people getting into it after the difficulty increase need to bank on the value on BTC keeping pace with the difficulty increases.

I buy a new gpu every other week and motherboards, RAM and whatev3r else I need every few weeks. Double my hashes every other week. Difficulty doesn't increase that fast so far so I still buy.

i'm still considering buying a graphics card, but not building a full time rig....
just for 1 pc perhaps, but i still have the other hardware laying around

buying more full computers for mining? no.

buying 5970 for less then 500 dollars to stick in an existing machine? yes.

There are a lot of people who probably already had their eyes on a shiny new video card, and view Bitcoin as a 'discount' off of the purchase price.

The math here is questionable as well, especially with summer heat and electricity costs factored in. Still, it's a psychological thing to convince yourself that you're going to get 10-30% 'off' your hardware purchase as long as you use it for bitcoin mining. Even worse is that you must buy now to get in on it.

Maybe if they expect to pay off their hardware the same day.  You gotta look forward though, maybe 30-90 days down the road.  Factor in difficulty increases as well as the BTC doubling or tripling in value.

Just curious if people are actually buying their 1st and 2nd rigs still? isnt it a bit too late for them to get in the game this late given the diff level is just about to hit 1mil