Bitcoin Forum

Hi just wonder your opinion, I get a offer for 2 of them for €700. If I buy it today, do u think it will really break even in 30 days? Is there anything special about mining software I have to aware off? Thanks for your advice!

Electricty is 0.10€/kWh

Thanks for reading.

Probably not, take a look at a few mining calculators on the interwebs and draw your own conclusion. The fact is that the difficulty is increasing very rapidly lately and it's becoming increasingly difficult to even ROI.

http://www.alloscomp.com/bitcoin/calculator  -- very simple calculator
http://bitcoinwisdom.com/bitcoin/difficulty     -- difficulty predictions
http://mining.thegenesisblock.com/              -- more realistic mining calculator

My suggestion, is to take a hammer and beat yourself in the head for considering making that purchase.

Maybe a rubber hammer. €700 voor 120GH/s is still very cheap. @ today's price that €700 will buy BTC4.67.

With 120GH/s he'll make BTC0.6 the next four days, BTC1.58 in the next two weeks and BTC1.13 in the 2 weeks after that, .8 after that, .57 after that. Which totals at 4.68, given difficulty rises with 40% every two weeks. So with a bit of luck, he might ROI.

Thanks for your opinion, i brought him down to 500 euro, at the end he get a better offer and sold it. so i am kinda relieved that i didn't have to tell him no. will go for 2TH COINTERRA IV, what you think to best way to pay them? bank transfer or bitcoin?

if you have BTC, wait few days, probably a week and buy it with BTC. If my estimation is right, and BTC price reaches 225 in a week, you'll save almost 2 BTC, which is more than $400 :)

Goodluck with that! Even though I dont recommend you to invest in mining.

thanks for the advice

Wait until its dirt cheap, but the difficulty might be to high at that time so just dont buy it

This is the most educated and accurate response on this entire forum.

It was 500 for 120 GH

if dificulty level rises so fast it is not a good investment. but who knows?

if you paid 500 eur for 120 GH,
considering actual difficulty, and next difficulty increases, you should return of your investment at beginning of December (if you will start mining by 2-3 days).

At end of Feb 2014 you should have in your wallet about 6 bitcoins.

take a look at this great calculator
http://mining.thegenesisblock.com/

You will never ROI.... do some calculation and understand it before putting money into it.....

First, it is overpriced for such an old machine. It might just spoil really soon after you use it and the next gen ASIC is coming out. :)