I'm curious as to which mining equipment purchase put you under water on your mining operation?
Even the most expensive miner I have ever purchased - a Jupiter for 70 bitcoins, I walk past it every day as a reminder of my "$70,000" mistake, even though it's getting close to breaking even - even that was not such a bad deal to turn me off of bitcoin mining...
I'm just curious to hear what might have been the straw to break the back of your mining operation, in the hopes that I can avoid a similar fate. Also curious as to what equipment you have on order.
thanks
Not so much underwater as close to wondering if things will work out. I bought Asic usb sticks. Total for 15 units = $260.91 for 6.14 ghs or 42.43 per gig.
On order = CoinCraft A1 ASIC. 'They' say it should be shipping any day now. A benefit, they say, is an increase in hashing power to make up for being two months late.
The straw that is getting hard to carry is the increase in difficulty coupled with the massive increase in equipment that has gone live. The difficulty is the same for all of us, but the deep pockets guys are hitting the streets running.
Right now, the variance at my selected pool is, to use a vulgar expression, the shits.
Thanks for the honesty OldGeek. I was gonna reply privately, but then I thought that would not be in keeping with the idea of keeping everything for posterity in the Wall Observer (I consider this thread to be kinda like the blockchain of the speculation forum.) so here goes..
Sorry to hear about the usb miners, not familiar with the CoinCraft, what Gh/s do they predict?
I guess it's becoming true that casual mining is coming to an end. If I had not started early I would not have been able to build and finance my current farm, and there might come a time that I too am made unprofitable by the ever increasing difficulty....
It's kinda sad for the casual miner, but I think the mining infrastructure will self-regulate. Without profit incentive, the miners will jump ship without a second thought. (just an observation on the Scrypt mining scene lately)
Anyways, thanks again for the response.
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