drknark
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June 23, 2011, 06:26:56 PM |
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Nobody buying gear now (if ever) can expect / plan for a profit. It's very high risk, and you have to be willing to lose what you spend. If that's ok with you, then go buy. If you'd rather be safe, then don't buy.
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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AngelusWebDesign
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June 23, 2011, 06:30:53 PM |
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May I ask, then why buy "gear"?
If it's your 2nd or 3rd rig, you can't exactly call it your gaming machine.
Upgrading your existing video card to something more mining-friendly (even at a loss) is one thing -- but when you're buying/making RIGS, they have one purpose: MINING
And what, pray tell, is mining for, unless to make money?
I don't have a business degree, but I do know that you have to subtract your expenses before you can arrive at a "profit".
What, are some people so giddy about the concept of Free Money that they'll pay for the privilege?
"I'll buy this $200 card, so that I can make FREE MONEY -- $1 out of thin air -- every day!"
-- Kinda silly if you ask me.
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PulsedMedia
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June 23, 2011, 07:09:12 PM |
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i'm looking at way longer terms.
maybe because i come from hosting industry already.
Several weeks ago i had few Mhash capacity, today am running 1.3Ghas, and expecting 1.4Ghash/s worth of GPUs to arrive tomorrow, with another 1.4Ghash/s worth arriving next week.
We are also going to push out a business based on this (mining hosting, fully automated, really easy to use. look at HW section for more info), which offsets the risks to a degree.
But we work on way longer ROI expectancies. We do benefit from no sales taxes, industrial rate electricity, even tho still damn expensive, and most of the year is very cool here in Finland so no need for much of a cooling, infact we save some money on not needing heating at our location during winters. That is offset tho by overheads (accounting for one).
So we are going to keep heavily investing until 100Mhash/s is only worth about 1/4th of current, at which point we will try to save the situ by enhancing W/Mhash rate or swapping for better W/Mhash HW.
Ofc, we can afford to do this, incur barely any extra costs apart from investing in HW and Electricity by doing this and have guaranteed ways to recoup most of HW investment without any problems.
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drknark
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Activity: 28
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June 23, 2011, 08:05:08 PM |
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May I ask, then why buy "gear"? Personally I mostly did it because I find it interesting, and I like the concept. Of course part of it is I hope it can make me some money. If I happen to make a profit, then great. If not, it's not like I can't afford it. All I said was you cannot plan on making a profit, not that it isn't possible. |
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um0rion
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Activity: 91
Merit: 10
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June 23, 2011, 09:10:23 PM |
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Right now ive got 3x systems running, 2 dedicated miners, and my main system I use for everyday stuff, plus some mining. I started mining in early May, and at the current price I've almost broken even. I solo mined for a week and didnt find anything, so that hurt my profits a lot. Ive built up my systems so that over the three, Ill be pushing close to 4 ghash/s in the next couple weeks. If the 5850s from amazon come back into stock, or if I find someone selling cards for ~$150, Ill consider buying another system. As it is, at 1,400,000 difficulty, I expect to see about $400 in a 10 day period. The payoff for new systems is getting really long, the BTC value needs to come up to $30 or so to justify whole new systems.
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ItsASpork
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Activity: 82
Merit: 10
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June 23, 2011, 09:19:35 PM |
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You all forget that while used video cards sell for less than cost, if you have a whole rig you can stick in some LED fans, bump the RAM up to 4 gigs, upgrade to a phenom, then sell it on craigslist for a profit to WoW kiddies who don't know any better and would otherwise drop 3 grand on an alienware.
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Feeling Generous? 16Zo6werKP4akoTfHc9P5XXBGS2jFqeuSt Support the Bitcoin Faucet |
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AngelusWebDesign
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June 23, 2011, 10:04:12 PM |
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Unemployment is above-average for youngsters today.
The unemployment rate is record-high, but it's even worse for those looking for their first job, including recent college grads.
$3000 for a system? Not so much anymore. I wouldn't hold your breath.
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muyoso
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Activity: 84
Merit: 10
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June 23, 2011, 10:18:46 PM |
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If you are just now buying hardware, then you are going to have to run it for months at bare minimum just to break even, at which point you will be making shit per week. If you jumped in a couple weeks ago you could pay off hardware in a week or two max. I know because I did it.
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I drink it up!
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Bitcoin_Silver_Supply
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June 23, 2011, 11:19:32 PM |
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Unemployment is above-average for youngsters today.
The unemployment rate is record-high, but it's even worse for those looking for their first job, including recent college grads.
$3000 for a system? Not so much anymore. I wouldn't hold your breath.
Your perpetual disdain for those getting into the market is one of the main reasons I browse through these threads. I wouldn't slap the "troll" label on you, as I don't really care to read through your posts and make an arbitrary judgment, but your loathing of young people "living off mommy and daddy" is a constant theme that brightens my visits here. Thank you. |
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TylerJordan
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June 24, 2011, 03:02:19 AM |
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there has to be a something far mroe superior to gpus and cpus that will make mining worth while.
I've plugged my brain in and am getting 6Thash/s - this is where all the new difficulty is coming from - it's me. |
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