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Title: mining in 2014 with bitcoin low as $10 Post by: arwor on December 21, 2013, 01:08:00 PM Hi,
I'm newbie for Bitcoin and I have one question for experts. Would mining be profitable if the value of Bitcoin drop to $10 in the middle of 2014? If I invest around $ 5000 in bitcoin mining machine with 1,000 GH/s and receive it in March 2014 and if the value of Bitcoin drop, would I earn something? I don't know how to do the mats, what will happened also with the difficulty if the value of Bitcoin drop? Tnx Title: Re: mining in 2014 with bitcoin low as $10 Post by: DFiLeR on December 21, 2013, 01:30:58 PM well, mining youd only make money if the price went back up... if you kept the $5k and just bought bitcoin at $10 would be better off. but hey we'd all buy btc for $10! don't think it would be a problem next year
Title: Re: mining in 2014 with bitcoin low as $10 Post by: tearfereon on December 21, 2013, 01:38:53 PM Hi, I'm newbie for Bitcoin and I have one question for experts. Would mining be profitable if the value of Bitcoin drop to $10 in the middle of 2014? If I invest around $ 5000 in bitcoin mining machine with 1,000 GH/s and receive it in March 2014 and if the value of Bitcoin drop, would I earn something? I don't know how to do the mats, what will happened also with the difficulty if the value of Bitcoin drop? Tnx No, in fact many ASIC miners would have to turn mining off because the electricity cost would be higher than they can mine, meaning buying Bitcoin would be much cheaper than electricity cost required for mining Bitcoin. Title: Re: mining in 2014 with bitcoin low as $10 Post by: cabax on December 21, 2013, 01:41:28 PM no way in 2014 with bitcoin low as $10. :o :o :o
Title: Re: mining in 2014 with bitcoin low as $10 Post by: jonanon on December 21, 2013, 02:09:19 PM If I were you I'd either invest directly in buying BTC or try mining an alt currency and converting to BTC.
Title: Re: mining in 2014 with bitcoin low as $10 Post by: bryant.coleman on December 21, 2013, 02:13:21 PM With the hash rate increasing exponentially every week, I don't even think that the mining is profitable any more. Even if you are mining 24x7, the chances are that you will not get the $5K worth of BTCs (as of today's rate) from mining.
If you purchase BTC now, for 5K you will get 8.06 coins. Don't think that you will be able to mine that much from equipment worth 5K. Title: Re: mining in 2014 with bitcoin low as $10 Post by: Holdaaja on December 21, 2013, 02:19:45 PM Yeah, just buy bitcoins now, it will go back to +1000$
Title: Re: mining in 2014 with bitcoin low as $10 Post by: cp1 on December 21, 2013, 02:23:26 PM You'd turn your $5000 into about $43.
Title: Re: mining in 2014 with bitcoin low as $10 Post by: OC19850520 on December 21, 2013, 02:28:21 PM I don't know how to do the mats, what will happened also with the difficulty if the value of Bitcoin drop? Depends on the drop, dropping from 1200 to 600 does not have any impact on difficulty, and the difficulty will increase as usual now Title: Re: mining in 2014 with bitcoin low as $10 Post by: pstop1 on December 21, 2013, 04:04:27 PM It wont get to $10 in my opinion. and if it gets to $10 the difficulty wont lower it will just continue to raise. |