It really depends on what you feel the future holds for Bitcoins. In one years/months time will 1 BTC be worth $10, $100 or 0.1 cent. No one knows the answer and no one knew the answers at the start of the Bitcoin project/experiment either.
+1 
Topic: Sell equipment and go or mine for the long haul? (Read 893 times)
Every time i refresh the estimated difficulty increases along with the total network harsh rate (taking in to account fluxuations across the day), I'm in a similar position to yourself OP, I'm probably going to keep at it, but there just seems to be an exponential explosion the network speed right now. If you have the spare cards doing nothing, I'd sell them (as someone already mentioned their going for a lot right now) and keep your current system and carry on mining.
Well, id say mine until you have about 100BTC. Then dont touch them, just in case price skyrockets.
It really depends on what you feel the future holds for Bitcoins. In one years/months time will 1 BTC be worth $10, $100 or 0.1 cent. No one knows the answer and no one knew the answers at the start of the Bitcoin project/experiment either.
I'd be interested in buying the rig.
I would like to keep going since it is essentially "free" money. But I know my hash rate isn't going to really cut it much. 1.5 Gh used to be a lot. I paid $1200 for my hardware and am need of a gaming machine anyways, just on the fence. I could sure use that money back...(full time student working over summer). But I think that the value of BTC has to really go up to warrant mining or the difficulty has to actually decrease.
Why stop is the question? Cost of electricity? Maybe try to compute how much extra your spending in electricity and see how many bitcoins you are producing. Just like any hobby paying a few dollars a month wont really hurt you in the long run right?!
Depends if you're running in the black or not, as far as daily bitcoin generation and power usage goes. If you're still coming out ahead, keep it going. If you're not, shut it down.
Selling your rig is a different matter however. If the value of bitcoins goes way up, you may want to fire up the mining rig again in the future and start generating what you can, even if the difficulty rate is significantly higher then. You know the value of the cards will likely go down over the long term, but if the bitcoin price rises enough to make it worth pumping out whatever coins you can at a future higher difficulty rate, then maybe its worth holding on to. Depends on how much you like to speculate.
If you really want out, though, and don't want to deal with mining anymore, sell it all and cut your losses. Maybe keep your best card or two if you game at all, or worry if you get the itch again. Otherwise, 5830s and 5850s are selling for a premium right now, so they'd be great to move.
Selling your rig is a different matter however. If the value of bitcoins goes way up, you may want to fire up the mining rig again in the future and start generating what you can, even if the difficulty rate is significantly higher then. You know the value of the cards will likely go down over the long term, but if the bitcoin price rises enough to make it worth pumping out whatever coins you can at a future higher difficulty rate, then maybe its worth holding on to. Depends on how much you like to speculate.
If you really want out, though, and don't want to deal with mining anymore, sell it all and cut your losses. Maybe keep your best card or two if you game at all, or worry if you get the itch again. Otherwise, 5830s and 5850s are selling for a premium right now, so they'd be great to move.
Thats a tough one. I guess you really need to go with your gut instinct.
Okay guys. So I am mining at about 1.5 Gh. I bought my equipment for $1250 total. Running 5 cards currently with 2 more that don't have systems to be used in.
-4 5830
-1 5850
-1 5870
-1 6870
What would you do is the question.
Should I sell my equipment and get out (hopefully with a few 100 profit) or continue mining roughly 1btc a day and hope prices rise?
Thanks,
Jeff
-4 5830
-1 5850
-1 5870
-1 6870
What would you do is the question.
Should I sell my equipment and get out (hopefully with a few 100 profit) or continue mining roughly 1btc a day and hope prices rise?
Thanks,
Jeff
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