newb at mining

[pfunk]

if i wanted to get into this and invest some change what would be my best option?  what would be avg likely return?  any info would be greatly appreciated since i dont know much about mining.  ive done my research but get mixed reviews on it being worth it.  some say go for it, others say dont bother.

[Jack1Rip1BurnIt]

Don't bother right now...come back in about 4 years.

[Nancarrow]

if i wanted to get into this and invest some change what would be my best option?  what would be avg likely return?  any info would be greatly appreciated since i dont know much about mining.  ive done my research but get mixed reviews on it being worth it.  some say go for it, others say dont bother.

You've picked a helluva day to start thinking about mining.

[JackH]

 

[bitcoindaddy]

With the reward halving (happening today), my graphics cards based miners will be shutdown because they will cost more to run than they generate. The fact that BFL has ordered 100,000 ASIC chips also bodes ill for making any long term profit.

[Elxiliath]

If you're considering getting into mining, your best option right now is waiting for ASICs from one of the vendors to launch and use those for any competitive mining.  Running any graphics card or number of them now is not worth it and the cost of purchasing an FPGA isn't worth it either.

[Dagger75]

Yeah, that 100K ASIC chips is Huge!  That's double the number they initially told us and if they all get released in the next 6 months that's basically Half the profit and double the time for ROI people initially speculated.  Not too mention at $1300 per Single it's over 2X the price of an FPGA Single when released.  We may end up making less per ASIC Single than had been making the last 6+ Months per FPGA Single.  IMO this doesn't bode well for future earnings when put together w/ todays reward halving.  

I hope i'm wrong, but it may be the ASIC companys who make all the $$ in the end.  

[Gomeler]

Yeah, that 100K ASIC chips is Huge!  That's double the number they initially told us and if they all get released in the next 6 months that's basically Half the profit and double the time for ROI people initially speculated.  Not too mention at $1300 per Single it's over 2X the price of an FPGA Single when released.  We may end up making less per ASIC Single than had been making the last 6+ Months per FPGA Single.  IMO this doesn't bode well for future earnings when put together w/ todays reward halving.  

I hope i'm wrong, but it may be the ASIC companys who make all the $$ in the end.  

A few people will make a lot of money. The majority of people will barely break even. The company selling the shovels ASICs will profit greatly. Just another gold rush, nothing to see here folks.

This is of course if we actually see an ASIC hit the market.

[Rotsor]

Half the profit and double the time for ROI

That's not right. Double the chip count means half the mining revenue, and much more than double, possibly infinite, ROI time.