Your main problem with mining was buying scrypt asics. As far as I can tell, scrypt ASICs have always been extremely overpriced. I did the math a while back, and best case they would have hit ROI in about 9-12 months.
If you don't take the time to do the math on projected mining ROI, and follow difficulty like a hawk, you should not be mining unless it's just a hobby and you don't mind losing money.
I'll stick to BTC mining with a 3-4 month ROI if hardware purchases are well timed. If you had used that money to purchase Antminer S1s instead, you would be in a much better position right now.
If you don't take the time to do the math on projected mining ROI, and follow difficulty like a hawk, you should not be mining unless it's just a hobby and you don't mind losing money.
I'll stick to BTC mining with a 3-4 month ROI if hardware purchases are well timed. If you had used that money to purchase Antminer S1s instead, you would be in a much better position right now.
I agree with this. Mining has become like a small arms race...which is why I never got into it. I never had the time to do the proper research and to learn what to do. I think the problem is that there are all these success stories floating around the net on how people amassed a huge number of BTC (in the beginning stages), using their desktop computers...and made riches..
I was definitely influenced by such stories...
