Topic: Is it even worth it? - page 2. (Read 2834 times)

In general terms you can make a small profit by buying the fastest hashing equipment provided you get a first quarter 2014 or earlier delivery.

But much will depend on the Bitcoin price.  If we use Cointerra Terraminer IV as an example then assuming difficulty levels increase at a relatively constant rate based on the last ten increases, then if the Bitcoin price it remains at $450 you will make a small profit, like 5% to 10% on your investment.  If the Bitcoin price goes to $800 you will double your money.  If it falls to $100 you could lose your investment entirely.

For this reason I would say if you are bullish on long term outlook on Bitcoin, and you understand computers then research the hash rates, delivery rates, and then buy mining equipment.  

In mining the other consideration is the change in difficulty level which you should research and understand. The difficulty levels are dependent on the volume of new chips and units coming onto the market.  Unfortunately because newcomers are generally not doing enough research, and the online calculators tend to trick newcomers into a false sense of profitability, and newcomers fail to spot that difficulty levels keep rising each 2 weeks, and that like an aging actress, mining is a battle against time.

The delivery rate is extremely important because increasing difficulty levels over time make mining unprofitable if you receive equipment later than promised therefore don't buy anything from companies with track record of very late deliveries like Butterfly Labs (BFL) or other companies with scammer or warning tags.

Notice however that at present the profit from mining is not too dissimilar from investing in Bitcoins and so a simpler option if you are not so good with computers is just to buy Bitcoins and keep them in an encrypted wallet.

Finally do lots of reading on this forum and learn via other peoples experiences about mining. You will be surprised how often history repeats itself.

I was thinking of buying some server/mining machines to mine.

But is it worth it?

What's the price on one of these? And how long before it pays off? 

Is it steady or does it change daily to mine?