Bitcoin is a get not wealthy slowly project. Yes some people did spectacularly well, but even if you were looking at a three month payback on $10k of kit like it was back in June, that's only $100/day. With difficulty and price changes (like D&T said), the payback is longer, and realistically, a $10k mine places other stress on your accommodation if you're doing it at home (excess heat is a big one - I'd hate to think what 10 to 40 GPUs would be like in a dorm room!? I at least hove my small grounp of computers at the other end of my house).
If you want to get into computers and maybe bitcoin, then experiment and work it out with one or two rigs. do it because you can afford to, not because you need the profits.
Topic: Is it good to invest into hardware and mine? (Read 1198 times)
if you really want to "invest" in bitcoin, its better to buy from an exchange at the moment....particularly if you have to buy new hardware to mine.
One thing about investing in mining hardware If you decide to get out, or you're hurting for money, you can always sell the cards. Deathandtaxes hit the nail, it all depends on how much electricity will cost you.
i agree with DeathAndTaxes !
go for bitcoin!
go for bitcoin!
Meh. Don't listen to the haters. It depends on your electrical costs.
1) If your electrical costs are >$0.10 per kWh then no don't start.
2) If your electrical costs are <=$0.10 per kWh I would recommend buying used GPU from ebay. Don't expect to get rich quick. Even if prices remain >$3.0 and difficulty ~1M it is going to take a year to payoff your hardware.
3) If your electrical costs are "free"* (dorm, non-metered electricity, flat rate, etc) then your payoff will be much quicker if prices remain stable.
* free doesn't mean living at home or w/ roomate who covers the utilities. If you start mining 24/7 someone is going to notice when they get a $200+ increase in the electric bill.
If you do start. Be smart. Do research. Buy only the most efficient gear (5970s, sempon CPU, high efficiency PSU, usb drive for OS). Be ready to learn linux. Linux coin isn't too hard and it is more efficient than running Windows on a HDD. The nice thing about starting in the winter is you can use the heat which improves efficiency.
If you are looking for easy money where your make tens of thousands with no work in a matter of weeks then click the logoff button because you are going to be disapointed.
1) If your electrical costs are >$0.10 per kWh then no don't start.
2) If your electrical costs are <=$0.10 per kWh I would recommend buying used GPU from ebay. Don't expect to get rich quick. Even if prices remain >$3.0 and difficulty ~1M it is going to take a year to payoff your hardware.
3) If your electrical costs are "free"* (dorm, non-metered electricity, flat rate, etc) then your payoff will be much quicker if prices remain stable.
* free doesn't mean living at home or w/ roomate who covers the utilities. If you start mining 24/7 someone is going to notice when they get a $200+ increase in the electric bill.
If you do start. Be smart. Do research. Buy only the most efficient gear (5970s, sempon CPU, high efficiency PSU, usb drive for OS). Be ready to learn linux. Linux coin isn't too hard and it is more efficient than running Windows on a HDD. The nice thing about starting in the winter is you can use the heat which improves efficiency.
If you are looking for easy money where your make tens of thousands with no work in a matter of weeks then click the logoff button because you are going to be disapointed.
No it is not good to invent hardware and yours.
Charity is good though. I have dislexia since before birth which makes writing hard very easy. So if you don't want to help with bitcoin I sent you an email.
Charity is good though. I have dislexia since before birth which makes writing hard very easy. So if you don't want to help with bitcoin I sent you an email.
case in point
No it is not good to invent hardware and yours.
Charity is good though. I have dislexia since before birth which makes writing hard very easy. So if you don't want to help with bitcoin I sent you an email.
Charity is good though. I have dislexia since before birth which makes writing hard very easy. So if you don't want to help with bitcoin I sent you an email.
NOT right now.
Is it good to invest into hardware and mine?
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