bought, i dont see reddcoin here.....
so far so good, will be testing out.  

edit: i also dont see bitcoin..

This is great info, and you probably saved me a lot of money.

I'm going to lean towards investing my real world money in the market (BTC, LTC), and keep mining with my current rig. (lets go RDD!)
If there's anything that i have learned its that time will tell all.

Thank you cryptowho for the very detailed response.

To answer your last question. Yes, yes i am mining reddcoins right now, and yes i did buy 140$ worth. (bonus round, i built a gaming computer a year ago and just so happened to pick a great mining GPU by coincidence)
But a better answer would be that I'm not swearing allegiance to anything right now, I know far to little about this whole Crypto thing to swear allegiance to anything at this point.

I find this whole industry so interesting, from the gambling aspect, to the technical, to the trading and reading of the market. I wanted to know if this could be a hobby that actually made me money, instead of costing me.

please don't confuse me with other people who are looking for the "magic internet money", I understand i may have just threw away that money i mentioned, but it was, and is an experiment for myself.


Now, in regards to your big post.

you did clear up a few things, i kind of figured that more overall hashing power would increase the difficulty and profitability, but i just hadn't gotten the vibe that anyone was really concerned about it. Perhaps all the posters already have theirs ordered?  

I was hoping that there would always be some kind of low-key coin that could be mine, and maybe even traded.



 

I apologize for not Being clear.

I was more interested in using them to mine other scrypt based coins, like RDD or something.
More to the original point, With a little Technical skill + some savvy investing you should be able to make a tidy bit of money with these rigs.

or am I really underestimating how the "Titan" will change the Crypto landscape over the next year?

Hello everyone, first of all I'm a short-time lurker, first time poster.

A friend of mine pointed me towards Crypto a little over a month ago, and iv been hooked ever since. but i have a question that i cannot find a clear answer too.

Is mining really as profitable as the numbers say it is?

I'm no genius by a long shot, but i know how to use a calculator, and my calculations say that spending $2500 (CAD) on 10 Grid-Seed miners will undoubtedly pay for itself in 2 months maximum.
So to be a little more clear, am I missing something important here, or is this just such a new industry that this is all still under the radar?

Better yet tell me the reason why i shouldn't spend my savings on a whack of machines. (but really do tell me why before i do it)

Anyway, thanks for your time, i love reading what everyone here has to say. The different personalities here make for an interesting forum.