mrMIGHTY (OP)
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Activity: 8
Merit: 0
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August 23, 2013, 01:47:14 PM |
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Hello Guys,  I'm new to the forum, but I have been reading about bitcoins and mining for a year. I am planning to join a groupbuy for a teraminer with 5 BTC. Since, its gonna be the most innovative and fast hashing device makes me think that I can at least repay back my coins with a little profit. I am very serious about my coins and the whole business model, but I am not doing this for living. I hold a very good job as a web developer and I am doing this just for the sport... I'm a geek in general and I spent like 10 hours daily on the computer. My question is: if we start the mining process in Jan'14 do you think that I will be able to make a small profit from my 5 coins. |
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greyhawk
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August 23, 2013, 01:49:25 PM |
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no
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Kluge
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Activity: 1218
Merit: 1015
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August 23, 2013, 01:53:05 PM
Last edit: August 24, 2013, 12:47:41 PM by Kluge |
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According to default projection on http://mining.thegenesisblock.com/ , it should be profitable to run from January to March making ~.2BTC before it costs more to run than it mines. I think they have a pretty harsh default projection, though. I think it'll be profitable to run from January to July and mine ~2BTC. ETA: Oh, hey - just realized I fucked this up! |
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knight22
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Activity: 1372
Merit: 1000
--------------->¿?
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August 23, 2013, 01:54:20 PM |
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Short answer: only God knows
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mrMIGHTY (OP)
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Activity: 8
Merit: 0
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August 23, 2013, 01:56:31 PM |
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Thanks guys.
I though terraminer is gonna be the sh*t.. but maybe not?
55ghz for 5 btc sounded like a deal to me
So, Whats the best option to invest 5-7 BTC right now and make them back with a small profit.
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greyhawk
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August 23, 2013, 01:58:14 PM |
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I think it'll be profitable to run from January to July and mine ~2BTC.
Profitable as in "produces more in BTC than it consumes in electricity"? Or profitable as in "paid for it's inital cost by producing more in BTC than it consumes in electricity and is still producing more in BTC than it consumes in electricity"? Because the former isn't really profitable at all. |
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saif313
Member
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Activity: 84
Merit: 10
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August 23, 2013, 01:59:35 PM |
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NO  |
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Kluge
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Activity: 1218
Merit: 1015
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August 23, 2013, 02:25:58 PM
Last edit: August 24, 2013, 12:56:38 PM by Kluge |
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I think it'll be profitable to run from January to July and mine ~2BTC.
Profitable as in "produces more in BTC than it consumes in electricity"? Or profitable as in "paid for it's inital cost by producing more in BTC than it consumes in electricity and is still producing more in BTC than it consumes in electricity"? Because the former isn't really profitable at all.  Just steal it.ETA: Actually, I misread the data. The latter. @OP Q: Being totally honest and caring here, not trying to be a degrading dick or anything like that. Your best bet is to keep the coins for a few months if you're just looking to make money. Check in every couple weeks. If you really have to do something productive with it, use it for your own productive purposes. Bitcoin's a great tool for investment... there just isn't much to safely use it for (as far as investments go). |
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greyhawk
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August 23, 2013, 02:28:15 PM |
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Just steal it. Hmmm, interesting. That opens a whole lot new venues.  |
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bitcoindigi
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August 23, 2013, 02:29:19 PM |
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welcome!
I'd recommend you to just buy BTC instead of investing in miners. The risk is not worth it.
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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August 24, 2013, 09:32:21 AM |
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welcome!
I'd recommend you to just buy BTC instead of investing in miners. The risk is not worth it.
This. Then join a market like www.cryptsy.com and start trading the alts and earn money. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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demzie
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August 24, 2013, 09:34:28 AM |
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Tip: Invest in labcoin on btct.co  |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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August 24, 2013, 09:39:10 AM |
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Tip: Invest in labcoin on btct.co Tip: Invest in "random" on "random".. because well, it's a tip.  |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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demzie
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August 24, 2013, 09:39:56 AM |
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hahaha |
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Cfarley
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Activity: 10
Merit: 0
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August 25, 2013, 02:53:17 AM |
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At least a couple months if you stick with it. Especially with difficulty going up the way people are predicting.....
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Pinwheel
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August 25, 2013, 03:31:29 AM |
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Hello Guys, I'm new to the forum, but I have been reading about bitcoins and mining for a year. I am planning to join a groupbuy for a teraminer with 5 BTC. Since, its gonna be the most innovative and fast hashing device makes me think that I can at least repay back my coins with a little profit. I am very serious about my coins and the whole business model, but I am not doing this for living. I hold a very good job as a web developer and I am doing this just for the sport... I'm a geek in general and I spent like 10 hours daily on the computer. My question is: if we start the mining process in Jan'14 do you think that I will be able to make a small profit from my 5 coins. |
Tom Waits: We should just start as soon as possible cause we might catch a rabbit before we have our pants on. (Juxtapoz)
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fildza
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August 25, 2013, 03:35:48 AM |
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Buy or work for bitcoins
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Mooshire
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August 25, 2013, 03:37:50 AM |
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Welcome to mining  |
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dwdoc
Legendary
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Activity: 966
Merit: 1000
- - -Caveat Aleo- - -
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August 25, 2013, 03:56:55 AM |
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Hold one btc.
Buy one btc worth of labcoin stock.
Buy one btc worth of a miner group buy.
Invest one btc in coinlenders.
Buy 4 USB miners.
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b!z
Legendary
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Activity: 1582
Merit: 1010
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August 25, 2013, 08:20:39 AM |
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I think buying a cheaper ASIC would be a better option.
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