Newbie question about the future of mining

[jameschase]

Hello everyone

I know that everything here is pretty easy to change, but do You think mining will still be profitable it in let's say 1 year? (talking about cheap machines, like 30GH/s Block Erupter Cube)


Cheers

[ChuckBuck]

Hi there,

Just reading the forum, by calculators, and ever increasing difficulty, the Cube probably won't ROI(around $1k or so with 200W/hr electricity).  30 GH/s won't be enough to mine BTC for profit.  You'd definitely need a beefier ASIC or can go the Altcoin route instead.  Some mining calculators to help you decide:

http://mining.thegenesisblock.com/

btcinvest.net/en/bitcoin-mining-profit-calculator.php


Good luck and Happy New Year!

Chuck

[Damnsammit]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

[jameschase]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

Well. from what I see the best cards can pull out about 700 MH/s, which is not much comparing to the 30GB/s ASIC. + the difference in price between those two isnt that high as I would have expect it to be

[GhanaGamboy]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

Well. from what I see the best cards can pull out about 700 MH/s, which is not much comparing to the 30GB/s ASIC. + the difference in price between those two isnt that high as I would have expect it to be

You can GPU mine Scrypt altcoins and exchange to Bitcoin. Mining Bitcoin directly with GPU is not profitable

[Damnsammit]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

Well. from what I see the best cards can pull out about 700 MH/s, which is not much comparing to the 30GB/s ASIC. + the difference in price between those two isnt that high as I would have expect it to be

You can GPU mine Scrypt altcoins and exchange to Bitcoin. Mining Bitcoin directly with GPU is not profitable

This. 

And if you have no interest in altcoins (which why should you? they are shit) then you can use a pool like middlecoin.com to mine Scrypt directly for Bitcoin.

GPU mining SHA256 is a complete waste of hashing power and electricity now.

[jameschase]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

Well. from what I see the best cards can pull out about 700 MH/s, which is not much comparing to the 30GB/s ASIC. + the difference in price between those two isnt that high as I would have expect it to be

You can GPU mine Scrypt altcoins and exchange to Bitcoin. Mining Bitcoin directly with GPU is not profitable

oh okay

which alt would You suggest then to dig? and what income should I expect lets say after month of using 5 * 700 MH/s machines? Couldnt find any calculators for that

[DigiMetals]

It all depends on the difficulty.  It's rather easy to project what the next difficulty jump will be, however it is much less accurate to predict where the difficulty will be in a few months, a year, etc.

Edit:  if you want to mine for profit, I suggest a Scrypt GPU mining rig for starters.  Cheap, you can resell the GPUs, and they are profitable.  ASICs are much more unpredictable and have little-to-no resale value after they become obsolete.

Well. from what I see the best cards can pull out about 700 MH/s, which is not much comparing to the 30GB/s ASIC. + the difference in price between those two isnt that high as I would have expect it to be

You can GPU mine Scrypt altcoins and exchange to Bitcoin. Mining Bitcoin directly with GPU is not profitable

oh okay

which alt would You suggest then to dig? and what income should I expect lets say after month of using 5 * 700 MH/s machines? Couldnt find any calculators for that

http://bitcoinwisdom.com/litecoin/calculator