Is it worth me buying mining hardware right now?

[icanscript]

I have managed to get a little BTC saved up to initially buy some mining hardware.

I was wondering though is it worth it right now? should I wait for new tech before I purchase?

[1714853843]

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[1714853843]

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[Amph]

we need to know your electricity bill, if it is very low maybe with a used miner(like antminer s1/s3/s5) you can earn something in the long-term(diff shouldn't rise too much in the upcoming months, seeing the price trend)

[Minerjoe]

Definitely no. Only large farm can afford to mine these days. If I were you, I would go for some PoS coins.

[bluudz]

I think it really depends on your electricity bill. If you can get cheap power than yes, otherwise I would do it only as fun/learning project. Do the mat to see if its worth it.

[bigbitmine]

If you're planning on home mining steer clear of the rack mounted rigs.  They're too noisy.  I got a great deal on an SP10 and I've had to move it to the shed.  Wife wants it moved to the DC but it's not fast enough for any rack space.

[vrm86]

Even if mining could be a bit profitable in some circumstances now (e.g. cheap energy, miners bought at low prices), there are some factors that can suddenly turn that business unprofitable - BTC price, difficulty, mining gear failure and so on. You have to be prepared for possible mining on loss for some time (not specified of course) - ask yourself if you are able to manage that.   

[goosoodude]

I have managed to get a little BTC saved up to initially buy some mining hardware.

I was wondering though is it worth it right now? should I wait for new tech before I purchase?

Definitely no, better to buy BitCoins instead. With mining you would be relying in increasing prices to make a profit. But then you would be making an even bigger profit if you had bought the BitCoins.

[Snipe85]

I have managed to get a little BTC saved up to initially buy some mining hardware.

I was wondering though is it worth it right now? should I wait for new tech before I purchase?

Definitely no, better to buy BitCoins instead. With mining you would be relying in increasing prices to make a profit. But then you would be making an even bigger profit if you had bought the BitCoins.

Not true. With mining you are able to profit if the price stays the same, while when buying coins you are relying on it to increase.
You can definitely profit from mining, but as Amph has already mentioned, you need to check your prices per kWh. What's the temperature outside? Do you have a location to put the miner, as it will generate a lot of heat and noise?

[D4C]

Short answer: no.
Long answer: no no no.

[MCHouston]

Yup buy hardware.  Do your ROI calculations and mine away for some profit.

[Reynaldo]

I would wait for the next gen asics or for some X11 Asics.

[factor280]

I wouldn't invest in any current mining hardware available on the market right now. Maybe wait for newer technology to come out?

[Amph]

I would wait for the next gen asics or for some X11 Asics.

Where have you seen information on X11 asics?

here you go

https://bitcointalk.org/index.php?topic=826541.600

i don't know if they are legit or not...but it seems so

[Amph]

I would wait for the next gen asics or for some X11 Asics.

Where have you seen information on X11 asics?

here you go

https://bitcointalk.org/index.php?topic=826541.600

Oh I assumed this was a cloud ponzi with no real hardware, sure they have renders but any real proof?

they seems to be the usual "pre-order company", that wait money from investors(many it seems) otherwise they can't proceed with the production, sound like bfl all over again...

"We only received 2 pre-orders, both were refunded because it was no where near what was required for development, hence the accredited investor search"

[MF Doom]

Definitely no. Only large farm can afford to mine these days. If I were you, I would go for some PoS coins.

what about these cloud mining contracts?  Are there ANY that are worth it??

[philipma1957]

I have managed to get a little BTC saved up to initially buy some mining hardware.

I was wondering though is it worth it right now? should I wait for new tech before I purchase?

Not to be repetitive  power cost pleaseee!

[bigbitmine]

Definitely no. Only large farm can afford to mine these days. If I were you, I would go for some PoS coins.

what about these cloud mining contracts?  Are there ANY that are worth it??

No not for just cloud mining, again it depends on your power price. I bought 4th/s of S4 on Hashnest (cloud miners)so when they're no longer profitable there I just pay shipping and have 2 S4 units sent to me, I have cheap power .06$ winter and .07$ summer. I can underclock the miners and continue profits, now if you have high electric it  won't be worth it and you'll just lose money.

Profit can be made from renting.  Depends how clued up you are.

[bgibso01]

I know it depends upon power costs, but from a gross btc standpoint, I am less than 1.5btc away from covering my btc outlay for 5-SP20 and 2-S5 units from the end of December.  This has been from mining almost exclusively on CKPool with failover to Eligius.

I haven't included power costs because I have generous boss, very few machines ROI when including electricity without selling them before they are useless.

[philipma1957]

I know it depends upon power costs, but from a gross btc standpoint, I am less than 1.5btc away from covering my btc outlay for 5-SP20 and 2-S5 units from the end of December.  This has been from mining almost exclusively on CKPool with failover to Eligius.

I haven't included power costs because I have generous boss, very few machines ROI when including electricity without selling them before they are useless.

I have bad power prices.

 13 in the winter adjust to 10 with heat gain.
16 on the summer adjust to 17 with a little bit of cooling needed


  I buy cutting edge most efficient  gear and sell in 60 to 90 days. It works for the most part.

[notlist3d]

I know it depends upon power costs, but from a gross btc standpoint, I am less than 1.5btc away from covering my btc outlay for 5-SP20 and 2-S5 units from the end of December.  This has been from mining almost exclusively on CKPool with failover to Eligius.

I haven't included power costs because I have generous boss, very few machines ROI when including electricity without selling them before they are useless.

I have bad power prices.

 13 in the winter adjust to 10 with heat gain.
16 on the summer adjust to 17 with a little bit of cooling needed


  I buy cutting edge most efficient  gear and sell in 60 to 90 days. It works for the most part.

Well I have decent power but I have a very paranoid wife who makes me keep the miners off at night incase it catches fire and we die and when I am at work for the same reasons, so I only get a couple hours of mine time a day =/ of course this really effects the time I can mine.

That is going to make it hard on any miners.   If you lose maybe 1/3 of mining time that is a lot over time.  I would suggest looking at hosting options if its that bad.

2/3 of day mining is just a whole lot of downtime.