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Author Topic: WILL MINING BE PROFITABLE 4 ME?  (Read 726 times)
gabbzcat
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October 22, 2012, 12:36:39 AM
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Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
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WaterTrooper
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October 22, 2012, 01:02:40 AM
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You should look at investing in a ASIC rig. http://www.butterflylabs.com/
pyromaniac
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October 22, 2012, 01:28:28 AM
 #3

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
I forgot my crystal ball at home and nobody knows for sure. Maybe ASIC vendors are a scam, so buying a PC with some graphical cards is a good idea. Maybe not.  Maybe ASICs will be delivered to you but difficulty will increase dramatically. The government may prohibit all cryptographic devices including ASICs.

Undefined31415
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October 22, 2012, 01:29:56 AM
 #4

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
I forgot my crystal ball at home and nobody knows for sure. Maybe ASIC vendors are a scam, so building a PC with some graphical cards is a good idea. Maybe not.  Maybe ASICs will be delivered to you but difficulty will increase dramatically. The government may prohibit all cryptographic devices including ASICs.

Ftfy.

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lassdas
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October 22, 2012, 01:32:32 AM
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The government may prohibit all cryptographic devices including ASICs.
Wouldn't that also include CPUs and GPUs?
No more gaming, no more interwebs? That's pretty sad.
pyromaniac
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October 22, 2012, 01:35:48 AM
 #6

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
I forgot my crystal ball at home and nobody knows for sure. Maybe ASIC vendors are a scam, so building a PC with some graphical cards is a good idea. Maybe not.  Maybe ASICs will be delivered to you but difficulty will increase dramatically. The government may prohibit all cryptographic devices including ASICs.

Ftfy.
10x  Smiley

kgonepostl
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October 22, 2012, 01:40:40 AM
 #7

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
I forgot my crystal ball at home and nobody knows for sure. Maybe ASIC vendors are a scam, so buying a PC with some graphical cards is a good idea. Maybe not.  Maybe ASICs will be delivered to you but difficulty will increase dramatically. The government may prohibit all cryptographic devices including ASICs.
Source about government blocking asic based machines? I'm not doubting you. I just need a source. I'm new. I just bought an asic. This scared the sh1t outa me!!
gabbzcat
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October 22, 2012, 04:19:38 AM
 #8

looks like i will be ordering an ASIC rig...
awesomey
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October 22, 2012, 05:32:30 AM
 #9

looks like i will be ordering an ASIC rig...

Well... if you do, just make sure you trust the company you're going to send potentially hundreds of dollars to first.

A lot of people on here mention Butterfly Labs (BFL), but consider these bits of information:
1. They don't have a physical address (only a PO Box).
2. They aren't registered with the state at of Missouri as a corporation, despite calling themselves "Butterfly Labs Inc."
3. They only accept hard to trace/contest payment methods, and only with the promise they'll send something later.

I wouldn't send my mother to buy online from a "company" like this, so you should ask yourself if you are willing to risk the money.
gabbzcat
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October 22, 2012, 06:12:18 AM
 #10

would you say ordering from here is safer?

https://www.btcfpga.com/index.php?route=product/product&path=61&product_id=58
RaTTuS
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October 22, 2012, 11:20:42 AM
 #11

safer ! who know's...
all may show up , some may not
it may be worth spreading your bets ...

In the Beginning there was CPU , then GPU , then FPGA then ASIC, what next I hear to ask ....

1RaTTuSEN7jJUDiW1EGogHwtek7g9BiEn
kgonepostl
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October 22, 2012, 05:10:27 PM
 #12

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley
I forgot my crystal ball at home and nobody knows for sure. Maybe ASIC vendors are a scam, so buying a PC with some graphical cards is a good idea. Maybe not.  Maybe ASICs will be delivered to you but difficulty will increase dramatically. The government may prohibit all cryptographic devices including ASICs.
Source about government blocking asic based machines? I'm not doubting you. I just need a source. I'm new. I just bought an asic. This scared the sh1t outa me!!

source: the government that bans everything fun
Your source is malformed and points to bucky balls........try again??
kgonepostl
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October 22, 2012, 05:54:44 PM
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Your source is malformed and points to bucky balls........try again??

Source was a joke about governments banning everything fun. There is no outlined threat (that I am aware of, who knows though) for banning Bitcoin ASICs. Anything is possible though, and there are some scenarios I'm sure many can think of that would bring it about.

edit: Bitcoin = ASICs

That threat makes sense though. I remember there being a recall with a magnet based products because baby's eat everything. When they eat sh1t like this the magnets still work inside their bodies and ruin their intestines. I think that's why they are thinking about banning them. A big warning on the box though should be sufficient IMO.
ChrisKoss
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October 22, 2012, 06:14:29 PM
 #14

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley

With electricity prices that high, I might suggest just buying Bitcoin directly from an exchange.

I am a consultant providing services to CoinLab, Inc.
bitpapers
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October 22, 2012, 06:26:36 PM
 #15

Hi Guys,

Currently i am being charged 19.75 cents per Kw/h, and a daily 79 cents service charge.

What mining rig setup would i need for it to be profitable?  i have a budget of $3000.

thanks  Smiley

That budget should get you some economics lessons at a local university. Smiley
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