Good luck! When withdrawing your USD profits, does it deposit into your bank account?

From what I understand, at the moment 700MH/s is a certain % of the total H/s in the bitcoin mining pool. So lets say the total right now is 10TH/s from the world. For every block or so or pool you have a pretty decent % even though its maybe <1%. Once the ASIC's come out, the average miner will have around 30GH/s, and the total pool is going to be something huge like 150TH/s, making your 700MH/s obsolete and youll only be getting 0.0000001BTC per day or what not because of the increase in difficulty of mining the blocks

What are your guy's opinions on the ASIC if I were to order a 24gh/s one now?

Oh well I heard of bitcoins in late 2009 and my friend was trying to build a rig mid 2010, but I still wasn't making much money so now I'm much more comfortable and can spend 2-3 grand on a setup if it can pay itself back. Obviously I would want to start at a smaller setup but it looks like right now we're at a stand still on what to do because of ASCI and the 25BTC/Block change that's going to occur soon

I guess the question that I should look into is, will the increase in difficulty be greater than the increase in processing power. (in terms of the values of btc), if suddenly we can process tons and tons of bitcoins wouldn't the market value slowly decline, and even with ASCI if it becomes harder in general as a whole to finish blocks will that mean that the price will rise? Just a thought

Yeah looks like I'll save more money for christmas. Damn I really wish I hopped on in 2009 when I first heard of it, but I didn't have the funds to build GPU mining rigs. Thanks for the replies.

Hey thanks, I was doing some reading and many people are thinking the ASICs are going to be a scam. Damn it seems like a big gamble, if they do work a ton of people will start buying and the total mining power will be through the roof compared to now.

Do you think if after the ASCI's are released there will be a decent ROI time for buying an ASCI rig if they work. Basically if I money to spend I could maybe get my money back in a month or two?

Hi everyone, Ive been buying and selling bitcoins locally on craigslist for awhile now to make a small profit every now and  then, but I was wondering if mining my own would be profitable right now?

So far I've heard that these new ASCI cards will break the current GPU mining scene? Not sure whats going on there so its just new tech right? If I preorder one, by the time I get it will I even be able to get my money back? I have about $2000 to spend on a rig but I want it to pay back asap (Not a year) -_-

Difficulty is coming up? And 25 coins per block instead of 50? So does this mean the projected btc price is going to increase as well? Lol sorry for all the questions I just don't pay for electricity right now where I live and I wanted to generate some income insead. I just need the rig to pay itself off <a few months. Was looking into BFL chip but I think I'm too late to the scene?

Any advice/suggestions is cool


ALSO! I really am looking for the best exchange rate for buying bitcoins via Bank Deposit. I found Deposit Direct that used to do 0.5% fee but they seem to be sold out all the time and on top of that they had to raise their fees to 1%

Haha I dont know why I find it ironic that there is a Silk Road thread here, it being illegal substances and all but I guess since it takes bit coins thats how it works. I read into it and it seems like an interesting venture. Anyone who made a site similar to SR that could generate similar traffic would make so much money

Oh my hello everyone! Ive been a lurker for awhile looking for a good bitcoin vendor that can do cash deposits but it seems they are sold out all the time