Buying new rigs at this point is so-so at this point unless you get a lot of hashing power (talking 3-5ghash/s or better).
If price climbs with difficulty, you win and have zero risk (since you also get to keep your hardware & can sell it any time).
If it stagnates but diff. goes up to 1.3m - 2.0m, you are essentially mining for free, and in a few months earning 0.0BTC per month at 5m-10m difficulty.
I'm not bagging on miners, hell I mine at way past 10ghash/s. I'm saying it's becoming unprofitable soon, but time will tell if prices keep up.
Should prices stagnate at around $15 but difficulty goes past 5 million then I'm putting my rigs offline until difficulty decreases.
Even if we are all COMPLETELY wrong I can still sell the video cards 2 months from now and retain at-least 60% of my money back. At current difficulty, and exchange rate, ima be looking at roughly 1200-1600 on the first month. That cards can easily pay for themselves in one month. If price climbs with difficulty, you win and have zero risk (since you also get to keep your hardware & can sell it any time).
If it stagnates but diff. goes up to 1.3m - 2.0m, you are essentially mining for free, and in a few months earning 0.0BTC per month at 5m-10m difficulty.
I'm not bagging on miners, hell I mine at way past 10ghash/s. I'm saying it's becoming unprofitable soon, but time will tell if prices keep up.
Should prices stagnate at around $15 but difficulty goes past 5 million then I'm putting my rigs offline until difficulty decreases.
BTW SICK MINE RATE
I like the fact that mining adds value to the network, and of course your going to try to steer me away from mining, it only makes your life harder ;p but unselfishness is the key to bitcoins success my friend. I am telling every single person I know, because I will get mine sir. I am not worried about it..
. It's very simple people. The choke points are the exchangers, the government dosen't even need to tax us at an individual level. If they wanted to work cooperatively with an exchanger like mtgox, they would simply put a new kind of tax on the exchangers, and the exchangers themselves would simply pass on the taxes to us through fees. If you hate the government that much (like many libertarians do) than simply don't exchange ! But just wait... Tonight the post will be epic (Prob 2-3 pages long) and will connect the dots, and shoot back any theory's as to why bitcoins are bad, and I will explain why they are here to stay! No matter what the downswings look like. BTW as of now I own 0 bitcoins... so I didn't loose from the recent crash, and quite frankly even if I would have invested at $30 I would have extreme confidence that one day, it will be worth atleast double that. Like I said please stay tuned!