Mining still worth it? Should I get in now? Here is my situation. - page 2.

X7

legendary

Activity: 1162

Merit: 1009

Let he who is without sin cast the first stone

At this point unless you got 6 big digits and are ready to invest it all and have literally everything taken care of - from cooled environments to the ridiculous amount of power consumption you will use.. Buy BTC directly and #fullmoon

Or... buy a 5Thz miner (Hope you get it) then plug it in and watch it become more and more worthless every 12 days :/

inerax

newbie

Activity: 20

Merit: 0

Thanks for the help guys. I was looking into 1-3 SP300 Yukon machines... Too mad i missed my mark Sad

I will look into buying coins direct.

Thanks guys!

InwardContour

sr. member

Activity: 644

Merit: 260

If you want to be safe and have a nice return on your investment just buy bitcoins directly,
instead of trying to have some ROI you could live your life and wait for the next btc bubble.

xstr8guy

hero member

Activity: 784

Merit: 1004

Glow Stick Dance!

Your miner would be worthless if Bitcoin went away. Sure, there are other crypto currencies that use the same algorithm as Bitcoin (SHA-256) and you can mine them too.

But since BTC is the original and most useful/adopted crypto currency, if it went away, that would be such a major calimity that all other crypto currencies would be doomed as well. And since SHA ASICs serve no other purpose, they would be worthless.

DrG

legendary

Activity: 2086

Merit: 1035

Since BTC price is sub $600 and your electricity rates are above $0.10 I would suggest buying BTC at this point. Even the S3 would be very borderline profit if not negative. You can always use the purchased BTC to buy miners later if another miner comes out at a good pricepoint, but for you the electricity is an issue.

inerax

newbie

Activity: 20

Merit: 0

Hello everyone. I am now in a situation where I can spend some money on bitcoin. So far it seems like a good deal to do so.

I have around $5000 to spend. I was looking at a machine that has 4.1-5.0TH/s. I was going to mine for a couple months until break even, then buy another machine.

Power consumption should be 2600-3200 W

My current electricity cost is $0.115 (11.5 cents USD).

Do you think its worth it to start now or have I missed my chance?

Also, if I were to buy equipment and bitcoin goes away tomorrow, what can i do with the equipment? Can the same equipment mine for other crypto currency?

Let me know what you guys think.

Thank you everyone!

PS sorry if this is a double post. im having comp issues

below is the calculator i used. does this look accurate?

http://i215.photobucket.com/albums/cc217/rosskimball/Capture_zpsa8ad6a9b.jpg

Topic: Mining still worth it? Should I get in now? Here is my situation. - page 2. (Read 2609 times)