its had other overhead, than buying hardware cost and paying electricity.
and bigger you solution, bigger # problems you have.
starting from cost of you time.
if its you personal PC - its one thing.
then you need [costly]space for it, power/air supply, support, etc.
people then forgot about it, when they ALREADY paid for that all for personal purpose.
and talking about profitability, using bitcoin-farming-targeted PC' from animation rendering[movies for example]and science computing for separate contract can be 15x more profitable, according for current prices for such resources and GPU's performance on such tasks. and thats become ordinary, after someone write OpenCL appz for such things. i mean, complete solution[like nowdays hashminers], not only GPU renderer or molecules crunching, in "press here and install" package.
Topic: Is rig building still profitable? - page 6. (Read 41318 times)
I noticed that eventually the plan is that people will be paid for processing transactions instead of mining, so at what point do you think enough people will be paying for transactions such that transaction processing to be profitable?
If that were the case, would it be worth running a machine to process transactions instead of just mining? Am I missing something, entirely?
If that were the case, would it be worth running a machine to process transactions instead of just mining? Am I missing something, entirely?
if you ALREADY had horserpower you may try use it.
but build specially for mining ..
but build specially for mining ..
This argument comes up every so often when talking about the profitability of mining, and it has always somewhat bothered me.
If you take two persons:
Person A) Is thinking about buying a used computer for $1000, planning to use as a dedicated mining rig.
Person B) Already owns a same kind of computer with resale value of $1000 just sitting idle, and plans to start using it as a dedicated mining rig.
Now B has an option to sell his computer for $1000 or start mining. Person A has an option to not do anything, or buy a computer for $1000 and start mining. In both cases, if you decide to start mining, you will end up initially with $1000 less money compared to when you decide to not mine, so they are economically the same decisions. Of course in a lot of cases, situations are not this simple and there are some other factors to consider, but still if I presented these two exact scenarios separately, I predict that the same people would recommend person A to not waste his money, and for person B to start mining.
I have made it my new aim to convince everyone that mining is NOT profitable.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
Due to recent developments I have to agree, it's like or better yet worse than throwing money into a wishing well at the moment.
"recent developments"?
hmmm... i dunno - i do quite well.
i started seriously in march, paid my rigs off in about three weeks, and now 1-1 1/2 days' mining pays my monthly electric cost.
i must've missed the memo.
I have made it my new aim to convince everyone that mining is NOT profitable.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
Due to recent developments I have to agree, it's like or better yet worse than throwing money into a wishing well at the moment.
I have made it my new aim to convince everyone that mining is NOT profitable.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
So no, rig building is a terrible investment, and you will lose all of your money. And your home.
I started mining back in March...I would have been much better off putting that money directly into bitcoin due to the appreciation in that time. If the price remains stable however, it will be good for a few weeks until difficulty catches up and diminishes the profit margins. Then you have to hope for further price increases. But, with mining you own the hardware and could later sell. For that reason, I view mining as a lower risk way of obtaining bitcoins, but one that may not pay nearly as well compared with buying bitcoins directly. Also, don't underestimate the amount of time you'll spend on mining.
How are you planning on achieving 1.5 Ghash/sec with an $800 budget?
5870's are $250 apiece at the moment and each only get around 350 Mh/s and are one of the most cost efficient GPUs at the moment. Even 3 of them would not get 1.5 Ghas / sec and that's not including the substantial cost of the rest of the equipment that goes with a computer.
5870's are $250 apiece at the moment and each only get around 350 Mh/s and are one of the most cost efficient GPUs at the moment. Even 3 of them would not get 1.5 Ghas / sec and that's not including the substantial cost of the rest of the equipment that goes with a computer.
well, in fairness, he did say "0.5 - 1.5".
two 5870s can be had (recently, anyway - if not today) for $225 each - and the rest of the box (CPU, motherboard, RAM, the box, a couple extra fans, and a PSU [all software is free, of course]) can be put together for $225 if you're careful and maybe a bit experienced.
and really, you should be able to get 775 Mh/s out of a couple of 5870s without trying too hard. i do.
his numbers work. and mining is still quite profitable.
How are you planning on achieving 1.5 Ghash/sec with an $800 budget?
5870's are $250 apiece at the moment and each only get around 350 Mh/s and are one of the most cost efficient GPUs at the moment. Even 3 of them would not get 1.5 Ghas / sec and that's not including the substantial cost of the rest of the equipment that goes with a computer.
5870's are $250 apiece at the moment and each only get around 350 Mh/s and are one of the most cost efficient GPUs at the moment. Even 3 of them would not get 1.5 Ghas / sec and that's not including the substantial cost of the rest of the equipment that goes with a computer.
marginally.
in countries with inexpensive energy and skilled people.
but when complexity grow up and/or other[than hash-related]workload become ordinary its become hardly marginably at all.
if you ALREADY had horserpower you may try use it.
but build specially for mining ..
in countries with inexpensive energy and skilled people.
but when complexity grow up and/or other[than hash-related]workload become ordinary its become hardly marginably at all.
if you ALREADY had horserpower you may try use it.
but build specially for mining ..
Rig building is still profitable and my guess is this will still be the case for some time. The problem is your returns will keep diminishing so you'll face an ever slowing ROI. It's hard to say how long it will take for you to recoup your investment, but with such a small sum I don't think it will be longer than 6 to 8 weeks. The last difficulty jump was huge but the next ones are bound to be a little smaller, if you take some history into consideration. There was an investment calculator spreadsheet floating around on the forum...
Keep in mind though that at any one time somebody can plug the giant cock of doom into the grid and screw us all with 3 THps jizz rates.
As a side note, if it's just gains that interest you, I think (and most people here seem to agree on this) that you'll be far better off by simply buying bitcoins for those money. With the grid hash speed being what it is now it's safe to say that BTC production will slow down eventually and judging by its growing popularity, prices will climb quite a bit more. It's your call though.
Keep in mind though that at any one time somebody can plug the giant cock of doom into the grid and screw us all with 3 THps jizz rates.
As a side note, if it's just gains that interest you, I think (and most people here seem to agree on this) that you'll be far better off by simply buying bitcoins for those money. With the grid hash speed being what it is now it's safe to say that BTC production will slow down eventually and judging by its growing popularity, prices will climb quite a bit more. It's your call though.
Hello Everyone,
I'm thinking about building a mining rig, but with the difficulty of mining rising exponentially, is it still profitable? I'd be spending $600-$800, and would probably get somewhere around 0.5-1.5Ghash/sec.
Any insight is appreciated.
EDIT: The rig would be up and running in about 1 and a half weeks, and the difficulty will be even higher by then.
I'm thinking about building a mining rig, but with the difficulty of mining rising exponentially, is it still profitable? I'd be spending $600-$800, and would probably get somewhere around 0.5-1.5Ghash/sec.
Any insight is appreciated.
EDIT: The rig would be up and running in about 1 and a half weeks, and the difficulty will be even higher by then.
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