thinking about investing some harware into bitcoining, what do you think

[dan0804smith]

thinking about getting the amd 6990x3

i plan to stick it into my duel 2.3 ghz ~ 2gb ram

comments concerns ?

[1715088443]

1715088443

[1715088443]

1715088443

[mute20]

Their are quite a few things you must take in to consideration.
1. Will I make a profit
2. Do I have the right hardware
3. Do I know what I am getting into.
4. What is plan b if something goes wrong.

[enygma]

Also evaluate whether you can throw money on an exchange and make more money than if you bought the hardware. You can't ignore the fact that this setup you are proposing will give you about about 2 GHash/s (give or take) and cost you about 1.1 to 1.3 kWh of electricity. At $0.15 per kWh, that works out to just over $4 per day to generate bitcoins. Network difficulty and value fluctuate (difficulty going up and value going down). You have to take these factors into consideration if you choose to sink some money into hardware.

[Dirty]

See also the Mining hardware comparison to get an idea how well your system will perform:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

[Dirty]

Or this one:

http://chasinggoogle.blogspot.com/2011/07/bitcoin-mining-hardware-comparison-list.html

[ukpyr]

Also evaluate whether you can throw money on an exchange and make more money than if you bought the hardware. You can't ignore the fact that this setup you are proposing will give you about about 2 GHash/s (give or take) and cost you about 1.1 to 1.3 kWh of electricity. At $0.15 per kWh, that works out to just over $4 per day to generate bitcoins. Network difficulty and value fluctuate (difficulty going up and value going down). You have to take these factors into consideration if you choose to sink some money into hardware.

Also remeber that you have cooling costs involved. Winter is coming in my part of the world, but if you live elsewhere, keeping your expensive hardware cool is pretty key to extract long term profits. Cards get to hot, and you have a lot of wasted money sitting under your desk.

[fently]

I like this one: http://bitcoinx.com/profit/

It makes a good effort to address the decreasing profitability of hardware that you purchase today. A clear consideration is that the longer your payback period is, the greater of an issue power efficiency becomes.

[Nefario]

You're better off buying shares in a bitcoin mining company on GLBSE, SIN pays regular dividends.

[bitbites]

GLBSE looks very interesting. How safe is it? Is it well established? How runs it?

[Nefario]

GLBSE looks very interesting. How safe is it? Is it well established? How runs it?

Security wise, it's VERY secure, using cryptographic keys instead of password logins, we're beyond password security. I'm the guy who runs it(I've been around for a while), on behalf of several investors(including myself).

We've been live for... oh nearly 4 months now (I think) and have had no breakins or losses.

glbse.com itself is fine(with regards security and trustworthyness) , the biggest issue is finding the right share to invest in, currently they're all quite high risk ( the shares that is) and people have already lost bitcoin, although quite a few have made some also.

Nefario.

[dub0matic]

thinking about getting the amd 6990x3

i plan to stick it into my duel 2.3 ghz ~ 2gb ram

comments concerns ?

get out while you can

[Nefario]

Actually WiseOldOwl is getting out of the mining game, you can probably get his hardware off him.