I'll be giving $10 through paypal for a thought out/clear answer. Maybe more. Don't be a smartass, I just want answers.
My friend and I have gotten interested in bitcoin mining. We're noobs, but at least we've read the documentation and other stuff, so we have a basic idea of how it works. We also have money.
We're looking to buy dedicated mining hardware
1) Is buying an ASIC stupid? Why or why not?
2) How fucked will the economy be in early-mid 2013 when FPGAs and ASICs become more widespread? Will investing in mining hardware even be profitable?
3) How would my friend and I go about sharing the bitcoins we've mined with each other? Can the same wallet/address reside on multiple machines, or will I have to send coins to my friend's address? Would an online wallet be good for us?
5) How often should we cash out, as in sell our btc? I understand the longer you hold on to btc, the more "value" it will have, but is it really worth waiting long?
7) Right now we're looking at the BitForce 'Little' Single SC (30 Gh/s for $649 @
http://www.butterflylabs.com/pre-order-form-bitforce-little-single-sc/) and the bASIC NextGen Bitcoin Miner (36 Gh/s for $599 @
https://www.bitcoinasic.net/index.php?route=product/product&product_id=50). Which one should we get?
Any other tips/thoughts?