Topic: is it worth it? (Read 598 times)

Its only worth it if you can afford to lose the money. Mining is pretty much another form of gambling.

not worth it at all !!

I've been trying to figure out if it's worth setting up a mining rig myself.  About 3 months ago everyone was saying its not worth it, but then the exchange rates went through the roof.  I guess it's like playing the stock market a little.

In my opinion no :p it is not worth it at the moment.

Maybe in near future it all depends

I personally don't mine, I prefer to just buy coins.

I don't have a lot of time as it is and assume that just like with anything else, it takes time to do it right. Picking the right coins, buying the right hardware, knowing when to stop etc. Nothing against mining, it's just something I would see myself doing. Also, understand that as the difficulty goes up your profitability goes down. So whatever you are calculating now won't be very useful because by the time you actually receive the hardware, I assume the difficulty of the coin you wanted to mine will be significantly higher.

Even having a rig is gambling

You gamble every day by choosing what coin to mine and also then you are gambling if you are keeping your coins..
Only if you would be on some multipool with autosell feature and then selling it instantly into USD..

I was gambling like that with my mined coins when markets was on their highs ar begining of December.. sadly I did not sell it and lost 1.5 grand just because I kept it.. so even with mining you are gambling But it doesnt hurt that much as if you lose your investment directly from money you sent into exchange.. thats for sure

You can get started small and work you way up. You don't have to spend 6 grand to start. You probably shouldn't until you have a better understanding of how everything works. Get a usb miner or a 10gh blade if you are medley tech savvy. It is a lot of fun and you can make a bit of money in the long run. But be aware it is a risky investment like most investments.

Assuming you're talking about scrypt coins, then in theory, neglecting electricity cost, you might get $200 a day out of a 10,000 Kh/s 10Mh/s setup, which would pay off in about a month if you were able to build 3 machines with 5 700 Kh GPUs in for $2000 each... but that's a tight budget... if you went to a computer store and said "build me.." then they'd get dollar signs in their eyes and you could double it.

However, that's somewhat dependent on market "tricks" and gambling, since it's maybe a trick of the market that some alternative coins are worth so much right now and a gamble that they stay that way. No guarantees in this game.



If you were talking about BTC, heh, 10Mh/s would make about $20 a YEAR if the difficulty was nailed to 1,000,000,000 and the price above $1000.... meanwhile sucking over $200 in electricity if you pay lowish rates for it.



BTW tips to stay on tightest budget and use least electricity, get the cheapest, lowest power CPU that your chosen motherboard will run, also do not go overboard on RAM, there''s a myth that scryptcoin machines need beaucoup de RAM, but this is solely for the mining software called reaper, if you run cgminer or bfgminer they need a couple of hundred megabytes on top of what you need to run the OS, that's it. You will also put less heat in the case, or computer room and have more stable GPUs.

Is it still worth to invest to miner rig, able to do ~10Mh/s? How long it would take to get investment back? Just with pure mining, no market tricks or gambling