Mining for a profit

[randayh]

Does anyone know if it's possible to mine for a profit any more? I bought from ASICs and it doesn't look like im going to get the return on my money with the difficulty moving up so fast.

[tacoman71]

What kind of ASICs and how many?

[tacoman71]

26 block erupters

Mining for a profit with those are a gamble. If I were you, I would just sell the miners on ebay higher than what you paid. Paypal buyers are willing to pay a little more in my experience.

[pacojones]

Assuming you have them in hand and you don't pay for power and bitcoin rises past...  wait...  how much did they cost you?  What's your investment??

[ivanlabrie]

26 block erupters

Just ebay them man...and get 7950s.

[randayh]

I averaged about $50 per. I jumped in head first without research. Then realized I would be mining at a loss with the difficulty rising so fast.  Here is the rig.. I would like to keep the raspberry because it's pretty neat to play with.

http://www.watchtowerblue.com/20130818_033713.jpg

[ninjaboon]

I use this 2 sites to do profit assessment:
http://mining.thegenesisblock.com/
http://www.coinwarz.com/cryptocurrency

[randayh]

okay, thanks. It looks like I will take a loss. I just list 6 with HUB, Ill sell off one hub at a time I guess.

[ivanlabrie]

okay, thanks. It looks like I will take a loss. I just list 6 with HUB, Ill sell off one hub at a time I guess.

If you manage to sell them to people who live abroad, you might make a profit.
People here for instance would pay way more than 50usd for those asics, despite them being useless. xD (Argentina)

[dwdoc]

Be careful with ebay. Winning bidders can just decide not to pay without repercussions. They don't get your erupters but you'll lose time and their value keeps dropping. Also a winning bidder that who pays might mine for a couple weeks and then return them and request a chargeback from PayPal.  Also several forum members on ebay got scammed into shipping erupters by someone who hijacked PayPal accounts (search username Danish).  Finally, even if you avoid those mine fields,  after you pay PayPal and ebay fees your profit will be less than you expect.