bitcoin Mining is not a good investment?

[coinprize]

As far as investigated, due the the bitcoin network will grow its diff levels if the blocks are generated too fast (faster than 1 blk per 10 mins), if so, the will that be necessary to buy ASIC to mine it yourself? What do you guys think?

[gambit1]

I've never been able to make mining work for me. Some people might be able to make it work.

[coinprize]

Yes, and I believe many not even received their BFL machine. For those who haven't received yet, reply in here. we'll gonna dig that BFL liar out!

[de_ixie]

Right now ASIC is the only way to stay in the game imho - unfortunately there is almost no reliable access to them even if you have money

[Cryptomaker]

Right now ASIC is the only way to stay in the game imho - unfortunately there is almost no reliable access to them even if you have money

Unfortunately this is true.

[elebit]

It can definitively be a good investment, but it won't get you rich.

[madpoet]

I have actually been wondering the same.  If you happened to be smart and ordered a BFL ASIC miner 10 months ago then maybe this makes sense.  Otherwise when I look at the calculators and how much things are going for on Ebay, there just doesn't seem to be a profitable way to do this.  The USB sticks are never going to pay off.  The BFL orders won't come out in time to still make money.  I wish I had known a year ago about this

[yeacten77]

IMHO, only ASIC mining can be profitable.

[alatvian]

My plan is to continue doing it as a hobby now.  An investment of multiple $10k and quitting of full time job would be required to actually make any money, and even then it would probably barely keep the lights on.  Wait until the bottom falls out and BTC is back to $2 - $3 (or less).  Then the giant coin farms will drop out and there might be a reasonable entry point again.

[madpoet]

But for how long?  If you had an ASIC miner in hand today then maybe it pays off, but if you are still waiting I am not sure it ever will.  I hope I am wrong of course!

[tgb29]

I was able to make my original investment back. It was fun though.