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Title: Is it worth......? Post by: adnanabbas on September 11, 2013, 07:07:38 PM hello to all the good people of bitcointalk,
I was wondering if it would be worth my while taking out a loan to by something substantial. (Mining hardware) Any feed back would be much appreciated. Title: Re: Is it worth......? Post by: aurel57 on September 11, 2013, 07:14:49 PM hello to all the good people of bitcointalk, no. The only sure way to become a bitcoin millionaire is to start off with a billion dollars.I was wondering if it would be worth my while taking out a loan to by something substantial. (Mining hardware) Any feed back would be much appreciated. Title: Re: Is it worth......? Post by: KWH on September 11, 2013, 07:33:34 PM hello to all the good people of bitcointalk, I was wondering if it would be worth my while taking out a loan to by something substantial. (Mining hardware) Any feed back would be much appreciated. Without collateral, you wouldn't get much if anything. Title: Re: Is it worth......? Post by: mgio on September 11, 2013, 08:33:52 PM Mining is very risky. THere is a very big chance you won't make back the cost of the hardware you would buy.
Since you are already very late in ordering, it's near guaranteed that you will lose money. Definitely do not take out a loan. Even if you make a profit, it isn't likely that you will make more than the interest on the loan. Mining simply won't be that profitable. Title: Re: Is it worth......? Post by: adnanabbas on September 11, 2013, 10:25:48 PM Mining is very risky. THere is a very big chance you won't make back the cost of the hardware you would buy. Since you are already very late in ordering, it's near guaranteed that you will lose money. Definitely do not take out a loan. Even if you make a profit, it isn't likely that you will make more than the interest on the loan. Mining simply won't be that profitable. What about if i was to get something like the cointerra rig (2TH)? i would also like to know if i will ever get a chance to buy something and make a little something, even if its next year. Title: Re: Is it worth......? Post by: forevernoob on September 11, 2013, 11:07:48 PM Rule number 1: "Don't spend more money than you can afford to loose."
Title: Re: Is it worth......? Post by: tempestb on September 12, 2013, 12:43:23 AM Just buy Bitcoins and sit on them. They will grow in value faster than the money you will lose on mining hardware.
Title: Re: Is it worth......? Post by: vayvanne on September 12, 2013, 02:01:18 AM The risk for mining is increasing difficulty.
If to take increase of difficulty is 60% per month how much should cost 1GH/s to keep mining profitable? Did someone such estimates? Looking at contracts on cloudhashing.com or at BFL shipping progress I feel that yes, someone did. My estimates gives $8.4/GH or less for current difficulty and bitcoin rate to RoI in 1 month. Title: Re: Is it worth......? Post by: adnanabbas on September 12, 2013, 02:03:53 AM Thanks for all your replies folks
Title: Re: Is it worth......? Post by: bbxx on September 12, 2013, 12:03:32 PM roi in 1 month is not anymore :)
there was times where that was possible... first avalon batch huge BTC exchange rate in march etc... dont buy hashing power with delivery time more than two weeks from now stay away from preorders :) lot of people bought miner shares (avalon batch3, bitfury, bfl) and they will never recup their investment in BTC |