£2500 to spend but would it be worth it??

[hildark7]

Hi all,

I've been reading forums and hearing mixed comments so I wonder if a few of you could help answer the question. I have a 15Ghs rig going at the moment and its generating around 0.02 BTC a week, at this rate I would have made my money back in around 3/4 Months (at the current exchange rate)

so this is making me think, if I spend more money would I be able to cover cost and even make on top?? I understand the risks due to exchange rate etc but ill still have the bit coins.

I have £2500 to spend on kit. the question is should I? and what should I buy in terms of mining equipment?

Thanks in advance

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[darkphantom934]

Do not invest in Bitcoin mining gear. For the most part, Bitcoin mining is dead. If you have gear already, continue using that. Buying pre-orders is a great way to get screwed out of $3000. If you want to start mining, buy a Scrypt mining rig. Scrypt mining is still very profitable and if it doesn't work out, you can sell the GPU's for almost as much money as you paid for them. You're taking a much smaller risk buy buying Scrypt mining gear versus Bitcoin gear that will be obsolete in 2 months.

[bit.alex]

Currently it's difficult to get mining equipment that will pay for itself in timely fashion because most of them (such as KnC Neptune #2 batch) will arrive too late for their current pricing.

People who get profitable mining action are usually the ones who take risk in pre-orders and somehow manage to get their equipment. This goes the wrong way very often unfortunately.

[Foysal]

I'm in the same boat mate, but instead of buying a rig, I invested it in to cexio, there's a lot of mixed feelings about them, but with 15GHs you'll mine around 0.03 a week at the moment, though that reduces on a daily basis so not too sure if that is the right move anymore. The good thing is, you can sell your initial purchase back, and the rate is quite low right now. If you decide to use cex.io, please use my referral link https://cex.io/r/0/foysal/0/

Or you might want to hold on to your cash and see if rigs reduce in price or do some day trading on bitstamp. That's one of my plans.

Where did you buy your equipment from and who are you mining with at the moment?

~Foyz

[SheepOnDrugs]

Either mine scrypt based coins or invest your money directly into Bitcoins or any other altcoin.

[cdog]

https://bitcointalk.org/index.php?topic=398290.0

[markf78]

I invested $4000 USD with very little knowledge of the bitcoin economy back in November when things were much better than they were now for miners. I ended up losing roughly $1000 USD of that original investment and I was lucky to salvage my losses to only that much.

Difficulty is now 300% higher than it was back then. TH/s machines should be arriving any day now which will make it even harder.

Don't invest money in bitcoin hardware unless you are doing it for fun and could care less if you make back your original investment.

As for bitcoin investment itself, this is pure speculation but it is my opinion that we will be range bound between 800USD and 1200USD for some time now. The risk/reward curve is therefore unbalanced so buyer beware.

[bit.alex]

Difficulty is now 300% higher than it was back then. TH/s machines should be arriving any day now which will make it even harder.

You just answered yourself. Invest in TH miners instead of older miners, because they are going to make all the money.

[markf78]

Difficulty is now 300% higher than it was back then. TH/s machines should be arriving any day now which will make it even harder.

You just answered yourself. Invest in TH miners instead of older miners, because they are going to make all the money.

I agree that they will make the most money but there is no guarantee of a profit.
In fact, I fully expect > 30% difficulty increases to be the norm rather than the exception once these machines start shipping in volume.

[Anddos]

How can you expect to make a return from those TH machines?
There is going to be alot on the network and the totalhash rate is going to be triple of what it is now, difficulty will increase 80% every 2 weeks.