Bitcoins still worth it?

[TheOwl12]

Okay heres the deal, I am a poor college kid and I have been doing slight research on the whole bitcoin craze. This is far fetched but Assuming I gathered $3,500 to buy a Bitco Prmer 1 TH/s desktop ASIC Miner and set it up in my dorm room that way I dont have to pay the large amount of electric fees it will rack up, and i joined a pool and consistantly ran it for the whole semester (3 months) how many bitcoins and considering the rate is at around somewhere in the $825 range per bitcoin how much money can be made? Is it worth my time attempting? Im fairly sure some experts can help me out before I perhaps waste my time trying to accomplish an impossible feat. - Thanks

[torusJKL]

First of all make sure this is not a scam.
They only accept Money Wire and Bitcoins. The first will be hard to force them to refund, the later will be almost impossible.

Second you can calculate possible earnings here: http://thegenesisblock.com/mining/a/6a7daabfcd
But the difficulty can jump anytime so there is no guarantee for a ROI.

My advice: stay away from pre-orders.
And only buy miners that are in stock and that it will be delivered within 3-4 days to your doorstep.

[jonanon]

I would say take your $3500 and actually buy Bitcoin - mining is becoming very hard and you will not get a good ROI 

[Wendigo]

I would go the second route as already mentioned and buy bitcoins

[BTCisthefuture]

As others mentioned be careful it's not a scam. Many miners have been screwed over and continue to get screwed over on pre-ordering machines. Also it's true that both payment options being accepted for that pre-order are payment options that would be prime for stealing your money.  Even if they don't take your money and are honest, there is no guarantee the minning equipment will be available on time, plenty of companies have had very serious delays on producing their product.

As far as figuring out if something is profitable or not,  a quick google search on bitcoin minning calculator will give you quite a few calculator sites to help you do the math.

[dille71]

For that money you could buy a pc and a couple of good graphic cards and start to mine some of the altcoins.

If you want in for the long term i say go for Goldcoin!
It is not as hyped as many other coins and it has been pretty stable compared to other alts and it is easy to mine.

[WorldCoiner]

Of course, I think now it's a good time to go in.

[premiumwriting]

yes. It will worth more

[re_public]

Under no circumstances buy mining equipment with your 3500 bucks!

The difficulty has been skyrocketing! Say you buy the miner today and even if it arrives in a week (which is not the usual case) your revenue will exponentially shrink from day to day you operate your miner. To verify this google for a bitcoin mining calculator that has something like a "difficulty increase" option.

Buy bitcoins with your money now and hold on to them.

[inspiredinvestor]

1. buy and hold bitcoin with the 3500, go lonnngggggg.
2. on the side use whatever computer equipment you have to mine altcoins, for your fun play money.

enjoy!

[redwine77]

I would leave Asics for the wealthier bitcoiners. Your money is probably better off spent on food, crypto, fun, women, or whatever you like. I recommend any of this over buying an ASIC. You are better off in my opinion buying crypto and learning to make money trading it or simply holding it. If you must mine get a good video card and mine the newest coin you can find that has potential or something like digitalcoin that's a good earner with potential. Or your favorite coin or the coin you see value in. Or you can wait until you see a good opportunity to buy a cheap higher output machine.