Conspiracy and Stuff: Bitcoin Mining viability by the end of this year

[Hugo9191]

Hello guys,

I want to invest in a rig, about 1.3k$, but a friend talked to me and told me that a big batch of BFL machines would go in December. More miners, more difficulty, less bitcoins for us all.

If you could get a 25 GH/s for the price above in late October/early November, would you do it?

I need opinions and help, we cannot do this kind of investments everyday :s

Thanks,

Hugo

[cr1776]

No, I wouldn't personally.  If you could get it 2 months ago, then yes, but by then I don't think it will be a good deal.  You can look at the mining calculators (e.g. http://www.bitcoinx.com/profit/)  to calculate the odds.  It looks like a lot more ASICs will be available then that are better than current generation ASICs.

If the price of one BTC is $130, and this costs $1300, then you'd need to make 10 BTC to break-even (excluding electricity).  So it depends on the difficultly then, and the increases coming as to whether you would ever break-even on it.  The problem is that you are talking two months out and there are no guarantees on delivery, and it is a crapshoot as to what other ASICs will be shipping by then.

It is just very uncertain, so whatever you do, be careful.

edit:  There was a thread somewhere on here that compared various ASIC miners and relative costs, but I couldn't find it or I'd link to it for you.

Hello guys,

I want to invest in a rig, about 1.3k$, but a friend talked to me and told me that a big batch of BFL machines would go in December. More miners, more difficulty, less bitcoins for us all.

If you could get a 25 GH/s for the price above in late October/early November, would you do it?

I need opinions and help, we cannot do this kind of investments everyday :s

Thanks,

Hugo

[Hugo9191]

No, I wouldn't personally.  If you could get it 2 months ago, then yes, but by then I don't think it will be a good deal.  You can look at the mining calculators (e.g. http://www.bitcoinx.com/profit/)  to calculate the odds.  It looks like a lot more ASICs will be available then that are better than current generation ASICs.

If the price of one BTC is $130, and this costs $1300, then you'd need to make 10 BTC to break-even (excluding electricity).  So it depends on the difficultly then, and the increases coming as to whether you would ever break-even on it.  The problem is that you are talking two months out and there are no guarantees on delivery, and it is a crapshoot as to what other ASICs will be shipping by then.

It is just very uncertain, so whatever you do, be careful.

edit:  There was a thread somewhere on here that compared various ASIC miners and relative costs, but I couldn't find it or I'd link to it for you.

Hello guys,

I want to invest in a rig, about 1.3k$, but a friend talked to me and told me that a big batch of BFL machines would go in December. More miners, more difficulty, less bitcoins for us all.

If you could get a 25 GH/s for the price above in late October/early November, would you do it?

I need opinions and help, we cannot do this kind of investments everyday :s

Thanks,

Hugo

This is my situation:

http://screencloud.net//img/screenshots/94ec8dccc68d422e5ab01385a270bc7d.png

But I used this one:

http://screencloud.net//img/screenshots/eebf7f0d4a8b0494eb8994ebfe571eb3.png

And f*ck, I'm going to lose my money!

What to do?

[Rannasha]

And f*ck, I'm going to lose my money!

What to do?

Not mine BTC.

Bitcoin mining is not going to be profitable for small-scale miners unless you're one of the first to receive a next generation of devices. Even at large-scale, where more cost-efficient devices can be employed, it is hard to make a profit.

If you're interested in mining, consider alt-coin mining, where some profit is still to be had (though it's not a get-rich-quick-scheme either).

Alternatively, just buy BTC with the money and hold the BTC or invest it somewhere (not in mining bonds ^^).

[Hugo9191]

And f*ck, I'm going to lose my money!

What to do?

Not mine BTC.

Bitcoin mining is not going to be profitable for small-scale miners unless you're one of the first to receive a next generation of devices. Even at large-scale, where more cost-efficient devices can be employed, it is hard to make a profit.

If you're interested in mining, consider alt-coin mining, where some profit is still to be had (though it's not a get-rich-quick-scheme either).

Alternatively, just buy BTC with the money and hold the BTC or invest it somewhere (not in mining bonds ^^).

Alt-coin like LTC?

[Bastet]

What to do?

1. Buy Bitcoins
2. Hold
3. ? ? ? ? ?
4. Profit (well, more than if you tried mining, likely)

With the difficulty ever increasing, all mining equipment have a limited life span, possibly measured in months.  Personally, I'd buy the coins outright and wait for them to increase in value instead.  They have to go up because they will become more scarce.  I've stopped GPU mining, for obvious reasons, and didn't enter the ASIC bandwagon...yet.  Their ROI isn't worth the risk and many have already been burned by it.  So, for me, they have become scarce.  I'm sure many others are in my boat.

[RtotheDizzy]

Unless you're going in BIG or you have some connection to get ASICs faster than everybody else, I'd say you're far better off either buying bitcoins directly or mining LTC.