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Title: New miner & looking to invest. Is it worth it? Post by: Bradtartaglia on February 24, 2015, 12:54:22 AM Hey guys- New to the forum and looking for some advice.
Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something. Thanks! Title: Re: New miner & looking to invest. Is it worth it? Post by: philipma1957 on February 24, 2015, 01:56:28 AM what is your power cost?
at 10 cents a kwatt 18000 gh costing 6000 usd will lose 5000 to 2000 usd. but at 5 cents a kwatt 18000 gh costing 6000 usd will lose 3000 to make 5000 profit so if your power is really cheap it may pay-off. Title: Re: New miner & looking to invest. Is it worth it? Post by: adaseb on February 24, 2015, 01:59:08 AM Nobody can predict what will happen in the future
If we all knew Apple would be the #1 company in the world, we all would of invested in 1998. You will either make alot of money, make nothing, or lose alot of money. Its a risk, either take the risk and reap the rewards or losses or don't. Title: Re: New miner & looking to invest. Is it worth it? Post by: Bradtartaglia on February 24, 2015, 02:01:10 AM what is your power cost? I live in PA so it is about $0.09/ kWh Title: Re: New miner & looking to invest. Is it worth it? Post by: philipma1957 on February 24, 2015, 02:03:35 AM what is your power cost? I live in PA so it is about $0.09/ kWh I think you will lose money. I can be wrong. Title: Re: New miner & looking to invest. Is it worth it? Post by: Bradtartaglia on February 24, 2015, 02:46:52 AM what is your power cost? I live in PA so it is about $0.09/ kWh I think you will lose money. I can be wrong. Just to be more clear because I forgot to add this in my post. I'm looking at 4 Spondoolies SP30 's . 4.5TH/s Title: Re: New miner & looking to invest. Is it worth it? Post by: ChuckBuck on February 24, 2015, 04:39:39 PM what is your power cost? I live in PA so it is about $0.09/ kWh I think you will lose money. I can be wrong. Just to be more clear because I forgot to add this in my post. I'm looking at 4 Spondoolies SP30 's . 4.5TH/s If you're looking at Spondoolies SP30's, you might as well go for the SP31's at 4.9 TH/s: http://www.spondoolies-tech.com/products/sp31-yukon-shipping-from-stock Don't think they sell the SP30's anymore anyways. Title: Re: New miner & looking to invest. Is it worth it? Post by: sidehack on February 24, 2015, 04:55:45 PM You can find secondhand SP30s in the sales forum for around $1600, but scrounging up 4 at that price range would be difficult.
Title: Re: New miner & looking to invest. Is it worth it? Post by: mtwelve on February 24, 2015, 04:57:08 PM I think it would be better to just buy them. The 4 $1600 machines would be around 30 BTC, so unless you can find mining hardware that can mine 30 BTC at the same price, it's ALWAYS better to buy.
Title: Re: New miner & looking to invest. Is it worth it? Post by: cryptopaddles on February 24, 2015, 08:03:15 PM Hey guys- New to the forum and looking for some advice. at 0.09/kw/h very likely you will end up losing money in the endIve played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something. Thanks! Title: Re: New miner & looking to invest. Is it worth it? Post by: resya on March 04, 2015, 07:22:58 AM It's not profitable anymore to mine bitcoin unless the price will rise to at least $600. Rather than spending $200 on your electric bill and mining 0.3 BTC, you're better off buying 0.8 btc with cash
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