Is it too late to get in to BITCOIN with GPU mining?

[Vlad_13]

Thinking on building a mining rig with 6 5970s grabbed from ebay here and there.
My investment in to this rig would be around 3.5k +/- 300$
I would get this system if i order now in 3 weeks or so, considering i'm not in states anymore, moved back to home country (Ukraine)

Electricity is 0.9grn (grivna) KW/h or 0.109c (USD) KW/h

Is it too late with GPU mining while ASICs are coming out next 2-3 months?
Or should i go with BFL preorder...

Thanks!

[Gab1159]

Yes, most probably. With the coming ASIC mining rig GPU will be made obsolete. However, you can mine litecoins with the same rig! Look at their performance this past week. They went from 0.0022btc to 0.0112btc today!! I have put a lot of btc into ltc (litecoins) and well...I've doubled the amount of btc put in!

[Vlad_13]

So everything considered for BITCOIN it will be too late when ASICs come out but not for LITECOIN?

How long would it take for the system pay itself?

[tom11011]

what is asics?

[lambdaE]

Is it too late with GPU mining while ASICs are coming out next 2-3 months?

Buying GPU for mining now is waste of money and time imho.

Or should i go with BFL preorder...

wait for reguar order, why rush? Anyway with the curent price 2K/80 GHs expect it will pay itself in 2 years before you will see small profits

we missed the boat, live with it 

[mailaddy]

If you've got it, might aswell use it.  Mine with a pool and you can make something at least.

[Jenger]

absolutely missed the boat. GPU mining is going to be extinct soon once the asic's are out. The difficulty will be too high by then.. Even if you risk it & pre-order a BFL you wont get it until christmas give or take anyways.

[cancis]

You'll have exponentially diminishing returns for a while. I would save my dollars and wait until an ASIC is delivery with < 4 week lead time.  At that point you can better project what your ROI and breakeven will be (and your hardware will always have a voracious second-hand market if you decide to tap out).

[Huffmeister]

From my calculations, yes. The cost of hardware to profit ratio is excruciatingly higher to those who use dedicated mining rigs such as ASIC to those who use GPU mining.

[Vlad_13]

absolutely missed the boat. GPU mining is going to be extinct soon once the asic's are out. The difficulty will be too high by then.. Even if you risk it & pre-order a BFL you wont get it until christmas give or take anyways.

What about LITECOIN GPU mining? Or do those calculators tell lies....

[lambdaE]

absolutely missed the boat. GPU mining is going to be extinct soon once the asic's are out. The difficulty will be too high by then.. Even if you risk it & pre-order a BFL you wont get it until christmas give or take anyways.

What about LITECOIN GPU mining? Or do those calculators tell lies....

Whad did say the calculators one week ago ? 
If people will stop buying for speculation - there is very small true litecoin market - the price will go back down, and people will start stopping their miners, will you be one of these with your newly buy GPUs, or will you continue to mine with marginal pofit/loss and selling the litecoins immediately thus helping make the price low?

[lambdaE]

absolutely missed the boat. GPU mining is going to be extinct soon once the asic's are out. The difficulty will be too high by then.. Even if you risk it & pre-order a BFL you wont get it until christmas give or take anyways.

What about LITECOIN GPU mining? Or do those calculators tell lies....

I mean the price rose almost 10x within week. Miners slowly adding their miners to litecoin because it is now more profitable than bitcoin mining. But equilibrum will be reached soon again. So dont count on litecoin because it is NOW profitable.

[Vlad_13]

It seems so, difficulty now at 54.