Topic: Is it worth me buying mining hardware right now? - page 2. (Read 2347 times)
Yup buy hardware. Do your ROI calculations and mine away for some profit.
Short answer: no.
Long answer: no no no.
Long answer: no no no.
I have managed to get a little BTC saved up to initially buy some mining hardware.
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
Definitely no, better to buy BitCoins instead. With mining you would be relying in increasing prices to make a profit. But then you would be making an even bigger profit if you had bought the BitCoins.
Not true. With mining you are able to profit if the price stays the same, while when buying coins you are relying on it to increase.
You can definitely profit from mining, but as Amph has already mentioned, you need to check your prices per kWh. What's the temperature outside? Do you have a location to put the miner, as it will generate a lot of heat and noise?
I have managed to get a little BTC saved up to initially buy some mining hardware.
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
Definitely no, better to buy BitCoins instead. With mining you would be relying in increasing prices to make a profit. But then you would be making an even bigger profit if you had bought the BitCoins.
Even if mining could be a bit profitable in some circumstances now (e.g. cheap energy, miners bought at low prices), there are some factors that can suddenly turn that business unprofitable - BTC price, difficulty, mining gear failure and so on. You have to be prepared for possible mining on loss for some time (not specified of course) - ask yourself if you are able to manage that.
If you're planning on home mining steer clear of the rack mounted rigs. They're too noisy. I got a great deal on an SP10 and I've had to move it to the shed. Wife wants it moved to the DC but it's not fast enough for any rack space.
I think it really depends on your electricity bill. If you can get cheap power than yes, otherwise I would do it only as fun/learning project. Do the mat to see if its worth it.
Definitely no. Only large farm can afford to mine these days. If I were you, I would go for some PoS coins.
we need to know your electricity bill, if it is very low maybe with a used miner(like antminer s1/s3/s5) you can earn something in the long-term(diff shouldn't rise too much in the upcoming months, seeing the price trend)
I have managed to get a little BTC saved up to initially buy some mining hardware.
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
I was wondering though is it worth it right now? should I wait for new tech before I purchase?
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