Definitely not a good time to be getting into mining. The whole ASIC vaporware debacle is just adding too much FUD into the mix.
As someone above said, if you want to buy a decent video card and do some mining on the side, that's about the only scenario worth doing. Though with the change in the difficulty rate, even that's only marginal and probably provisional on electricity costs and the offset of waste heat savings on heating your house. With that said, mining itself is somewhat educational WRT Bitcoin so carries some value in and of itself just for that.
On the other hand, it's my belief that Bitcoin is going to see some steady increase over the next 12 months. So that is where I have put a small amount of money. There may be better opportunities for you so that's something you have to decide for yourself. Though personally, I consider the fiat economy something of a joke for the foreseeable future so decide carefully.
Topic: Buying hardware vs Buying Bitcoins? (Read 739 times)
could the dip be because of the coming ASIC? maybe people are dropping out early seeing that mining isn't really going to be fruitful at this time 
The dip happened right after the block reward changed to 25BTC, which means that miners are earning half of what they used to earn. I don't think people are worried about ASIC's yet as there isn't even a working ASIC protoype at the moment.
Unless you're getting free electricity & were thinking about buying a new GPU anyway, I wouldn't recommend getting into GPU mining as it'll generate cents/month once the ASIC's hit (whenever that is).
I suggest just buying BTC
could the dip be because of the coming ASIC? maybe people are dropping out early seeing that mining isn't really going to be fruitful at this time
BTC13 is US$175 right now. I don't see how that's an either/or, since that number is 2.5x what a used 5830 has been selling for lately.
Realistically, a 5830 will never mine BTC13 barring ASICs all being scams, the currency failing, people abandoning it in droves and difficulty falling again. Even at today's difficulty it would take 9-10 months to earn that many coins.
Realistically, a 5830 will never mine BTC13 barring ASICs all being scams, the currency failing, people abandoning it in droves and difficulty falling again. Even at today's difficulty it would take 9-10 months to earn that many coins.
I can buy a Radeon HD 5830, or I can buy 13 bitcoins
how much time would it take for the Radeon HD 5830 to produce 13 bitcoins?
what is more cost effective, buying bitcoins or mining?
are there any cheaper cards that mine just as well? Thanks!
how much time would it take for the Radeon HD 5830 to produce 13 bitcoins?
what is more cost effective, buying bitcoins or mining?
are there any cheaper cards that mine just as well? Thanks!
See the relatively big drop at the right?
That's because after the "halving" (to where the block subsidy dropped to 25 BTC per block) a lot of GPU miners are powering down. They are powering down because they are losing money when mining. They are paying more in electricity than the value of the bitcoins they get from mining. The loss of this hashing power appears visually in the graph as a drop in the hashrate.
Only two things can fix the situation. A much higher exchange rate (like BTC/USD in the $18 to $20 range), or the hashrate falling another 30% or so. Even then if that happens, the only ones mining on GPUs profitably would be those who pay average electric rates or less.
But that argument is moot really.
The very first ASIC manufacturer to ship (and there are five independent efforts not even including Yohan's super-FPGA that he says they've built) will decimate whatever is left of hope for GPU miners.
So if you were going to buy an Radeon for gaming anyway, and want to play around with mining then would could do that without it costing you anything. But don't plan on making any money from it. Those days are likely long, long gone.
bought two 5850 in late october for 200 and sold my geforce 560 fermi for 120 so my two 5850 cost around 80$.
I have made around 5-6 bitcoin since then so I might pay my investment soon, although, my gaming performance are MUCH better with two 5850 in crossfire I play borderlands 2 with all settings to the max
BTW you can find good deals on 5830-50-70 right now so take time shopping if you want to buy some!
I have made around 5-6 bitcoin since then so I might pay my investment soon, although, my gaming performance are MUCH better with two 5850 in crossfire I play borderlands 2 with all settings to the max
BTW you can find good deals on 5830-50-70 right now so take time shopping if you want to buy some!
Right now I would say buy bitcoins and wait until ASIC. Buy more hardware that will take a long time to pay off is a bad investment at this time. But bitcoins may crash when ASIC hits so who knows.
I can buy a Radeon HD 5830, or I can buy 13 bitcoins
how much time would it take for the Radeon HD 5830 to produce 13 bitcoins?
what is more cost effective, buying bitcoins or mining?
are there any cheaper cards that mine just as well? Thanks!
how much time would it take for the Radeon HD 5830 to produce 13 bitcoins?
what is more cost effective, buying bitcoins or mining?
are there any cheaper cards that mine just as well? Thanks!
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