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Author Topic: Now that I ran some numbers...help me choose  (Read 823 times)
Killarshark33
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June 07, 2011, 03:42:42 AM
 #1

Someone calculated at the current rate 3gh/s will make about 700 coins by the end of the year then it will get so hard you will only be getting fractions of coins every few days.  But someone else posed a good point:  the rapid inflation will stop and the difficulty will fluctuate and eventually settle at near the same rate.  However if 3gh/s is 700 coins my about 1.5 gh/s assuming i start in the next month will only make about 200 coins.  The problem is if miners realize that they are not making enough money to keep repairing their systems the difficultly would go down but then just to make them start mining again and it will go back up.  Finally when the miner stop mining some of them will decide to sell off their bit coins and crash the market.  With not much to purchase with bit coins yet, this is wear I ponder if the long run will be worth it.  I know no one can predict the future on what will happen with bit coins, but my prediction is pooled mining will take over and i want NO part of that.  So please help me decide if I should jump in or if I am to late to the game.  Also I know I have posted about this before in replying to other post, but I just want to get some more thoughts on it.  Thank you for all of your help! Smiley
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LegitBit
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June 07, 2011, 03:47:25 AM
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It's a gamble man, if you think you have the gusto to keep up and you are confident in the calculations give it a try. No one can tell you much more than what you know already about generation statistics.

.....otherwise stay out of it, don't go mortgaging your house over this.

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Killarshark33
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June 07, 2011, 03:53:59 AM
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It's a gamble man, if you think you have the gusto to keep up and you are confident in the calculations give it a try. No one can tell you much more than what you know already about generation statistics.

.....otherwise stay out of it, don't go mortgaging your house over this.
Lol I know I'm not going to get a bank loan for this.  I just do not want to blow money on hardware I can use but do not really need if you know what I mean.  I guess I will do it, my problem is that with my job I may not have enough money until later in the summer in which case I will have to even see if 1gh/s is even worth using the electricity lol.
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June 07, 2011, 04:05:25 AM
 #4

Mining yields will be asymptotic... every week the difficulty increases significantly, making the break-even point get further and further away. My recommendation is to spend the money and buy bitcoins outright, then put your efforts into building a business to earn you more coins over time.
Killarshark33
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June 07, 2011, 04:07:52 AM
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Mining yields will be asymptotic... every week the difficulty increases significantly, making the break-even point get further and further away. My recommendation is to spend the money and buy bitcoins outright, then put your efforts into building a business to earn you more coins over time.
Yeah that is a good point the only problem with that is if I invest 1k in hardware and bitcoins gets shut down, crashes what ever i still have finite hardware worth something.
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June 07, 2011, 04:12:05 AM
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if you shop smart (sales, clearance, refurb, used) then even if bitcoin goes to 0 you will still only be out hardware cost - 25% and electricity costs.

that is unlikely but possible.
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