Since I started mining a few months ago, the difficulty has increased about tenfold, while the market price of a bitcoin has increased about thirtyfold. Doesn't sound too late to me.
That said, if I'd taken that $500 I spent on mining equipment and just bought bitcoins instead, I'd have turned something like a $14,000 profit (on paper), for a lot less effort spent. I haven't mined anywhere near the number of bitcoins I could have bought.
That said, any fool can predict the past. Mining is profitable right now, whereas buying bitcoins requires a lot more 'faith'. It's really up to you.
That said, if I'd taken that $500 I spent on mining equipment and just bought bitcoins instead, I'd have turned something like a $14,000 profit (on paper), for a lot less effort spent. I haven't mined anywhere near the number of bitcoins I could have bought.
That said, any fool can predict the past. Mining is profitable right now, whereas buying bitcoins requires a lot more 'faith'. It's really up to you.
I had to use my first 2000 BTC to fund my video card purchases back in January
.Hahaha...WOW.
It's interesting, the trade off between what amounts to currency speculation in the form of holding your bitcoins, cashing out to reduce USD risk, and purchasing services with bitcoins.
Personally, right now, I'm a currency speculator. Haven't sold any bitcoins for some time. I figure I'll hold on to them til they have a value I think is worthwhile, and then I'll spend them in what will then be a more mature market place.
