in all honesty, could it still be profitable to get into mining?

odolvlobo

legendary

Activity: 4466

Merit: 3391

One of the problems is that the miner will take 4 - 8 weeks to be shipped. In 8 weeks, the difficulty will have at least doubled. Assuming they actually ship on schedule, my my optimistic estimate is that you will still make 40 BTC over the life of the machine, which is a profit of about 33 BTC. Even if they ship after 12 weeks, you will still make a profit.

Pooyan

newbie

Activity: 13

Merit: 0

Pre-Orders are always a gamble. It could always end up like BFL and delay your order, but at the same time, you'd still make a nice buck if you did get this on hand in Feb, and mined with it for a month or so, realizing what the calculators say weren't what you expected. Then just ebay it for $1000 dollars more than what you pre-ordered it for. That's if it hadn't fried in a month like my bfl singles did Roll Eyes

Bobbydiggital

newbie

Activity: 28

Merit: 0

this reminds me when there was theses gold minors searching for gold and most people who made the most $ were people selling shovels. Roll Eyes

BitButt

newbie

Activity: 23

Merit: 0

Yup...it"s the people selling the mining hardware that are making mega beaucoup bucks.
Same story...the shop keepers that sold picks and shovels to the gold rush miners at
high prices are the ones that got rich.

Sniperdude

newbie

Activity: 56

Merit: 0

in regards to the 1.2 TH/s rig, it will be great but when they ship out 10,000 at the same time the diff will go up alot making it not worth while. Atleast not for bitcoins

cowandtea

sr. member

Activity: 434

Merit: 250

Not profitable any more... the mining equipment price has went up crazy

BitButt

newbie

Activity: 23

Merit: 0

Back in the California gold rush days, it wasn't the miners that we're getting rich.
Sure, there was an occasional miner that got lucky and struck it rich.
But the majority of miners struck out. It was the people that sold goods and
services to the the miners that got rich. The bars...the Ladies Of The Night, the
Shop merchants....the dry goods stores....and I suspect that it's much the same
now and from what I've seen so far it ain't changed much.

If you wanna make good BTC then sell a good or a service for BTC instead
of mining for BTC.

None the less...I'm of to download a mining client and see what fun I can have

AndiDC

newbie

Activity: 28

Merit: 0

I agree, keep looking for good offers, but only buy devices that make a roi in 30 days if you get them today!
Pre-Order is gambling.

peterbyte

newbie

Activity: 6

Merit: 0

Quote from: yetisalmon on December 06, 2013, 01:03:55 PM

Say I was to buy a machine like this:

http://advancedminers.com/bitcoin-mining-hardware/1-2ths-bitcoin-miner/?gclid=CKjFyaOSnLsCFYl9OgodXFMASQ

If I am really mining at 1.2 TH/s then I am generating roughly 25BTC per month....

From this standpoint, it seems like a no brainer....the machine cost $6K, so I would make it up in one week of mining.....

Am I missing something? I know the difficulty will be going up.....
And what happens in 2016? BTC gets halved every 4 years? What is that all about?

Any thoughts would be greatly appreciated.

Thanks,
RLF

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

Check out this site. 25BTC/month and 1 week for break even wont happen.

imamanandyou

full member

Activity: 147

Merit: 100

Quote from: yetisalmon on December 06, 2013, 01:03:55 PM

Say I was to buy a machine like this:

http://advancedminers.com/bitcoin-mining-hardware/1-2ths-bitcoin-miner/?gclid=CKjFyaOSnLsCFYl9OgodXFMASQ

If I am really mining at 1.2 TH/s then I am generating roughly 25BTC per month....

From this standpoint, it seems like a no brainer....the machine cost $6K, so I would make it up in one week of mining.....

Am I missing something? I know the difficulty will be going up.....
And what happens in 2016? BTC gets halved every 4 years? What is that all about?

Any thoughts would be greatly appreciated.

First, you preorder it not buy, right?
Second, dont worry what happen in 2016 because difficulty is rising so fast you will mine half as much every next month....

Hotsauce

newbie

Activity: 51

Merit: 0

You're better off investing an a power rig and mining Alt Coins then converting to BTC IMO.

pontiacg5

sr. member

Activity: 364

Merit: 250

You are not looking hard enough, the way to make money mining is not easy otherwise everyone would be doing it. If everyone is doing it, everyone gets less you see.

So, no. Clicking the first link you see and sending money is no way to make money mining. You have to get creative in some way or another.

zugende

newbie

Activity: 26

Merit: 0

I admire you Cheesy

Some hours ago I just tried mining litecoins. But I quickly got the message that my geforce gt540 crashed xD

Best regards,

zugende

yetisalmon

newbie

Activity: 10

Merit: 0

Say I was to buy a machine like this:

http://advancedminers.com/bitcoin-mining-hardware/1-2ths-bitcoin-miner/?gclid=CKjFyaOSnLsCFYl9OgodXFMASQ

If I am really mining at 1.2 TH/s then I am generating roughly 25BTC per month....

From this standpoint, it seems like a no brainer....the machine cost $6K, so I would make it up in one week of mining.....

Am I missing something? I know the difficulty will be going up.....
And what happens in 2016? BTC gets halved every 4 years? What is that all about?

Any thoughts would be greatly appreciated.

Thanks,
RLF

Topic: in all honesty, could it still be profitable to get into mining? (Read 679 times)