New to cryptocurrencys, am I better off investing in a multiple gpu rig and run on multiple coins or buying ASICs. Will there still be profit in cryptocurrencies still in 2 years with multiple and adding gpu's and to the setup in general or will I have to switch eventually ? I understand this is a "market" if you will that will require my effort and time and I'm not just gonna buy these rigs and expect money to fall at my feet if your thinking that
27 cents aud per unit is my current electricity in Perth
6 solar panels (can't find out what kWh there doing but they save A LOT of current bill)
and let's say $10000 to invest
Cheers
Can't really give you advice wether or not it would be wise to buy an altcoin ASIC (be it scrypt, X11,...). If you're interested, you can just look up each asic's specs, look at whitch coin you can mine with said asic, use a mining calculator and see how long it'll take to break even (given the current diff and altcoin price). Base your purchase habit on the break even time
If it takes to long to break even, you might be better off buying GPU's, since you'll always be able to find a coin to mine with them, and there is a good resale market when you're done mining...
There are 2 things i can tell you for sure:
1) @27 cents, you should stay away from bitcoin mining...
2) i have about 15 solar panels on my roof, and they do not cover our electricity bill completely (just the household's electricity bill, i'm not mining anymore). Using cheap solar power is only profitable if you have overproduction. If you don't produce sufficient energy to cover your family's power usage, you're still mining with 27 cents/Kwu power...
