how beneficial is buying mining hardwares,need some advice

[AdrianDi]

Hi there,
Before i start i'd like to appologize if im opening this topic under wrong section,but i believe it's  not...just in case
I'm considerably new to bitcoin and i've got few questions, I would appreciate it if anyone can spare some time and answer them for me.Due to my studies i can hardly find time for bitcoin mining but since i've got some free time for atleast 3 to 4more months i am willing to spend all this time engaged in bitcoin mining.I am living in a student accomodation and since everything is included (electricity,water,internet ect) i was consedering buying a propar mining hardware.As i said i am new to bitcoin but from my perspective if you can afford it seems quite benefical but it would be wise to ask opinions of those who s got more experience in this.I was searching on the internet and come across with few interesting things and i'd like hear your advice on these.First of all would it be wise to buy a $5999 device with 2TH/s with ~2000W usage to kick-start mining  as a begginner if you can afford.i ve got coin terraminer iv in my mind both because its...well its only because they mentioned its name in many comparison sites to be honest,im not gonna pretend like i know alot although i can understand basic principles of how it works.Do you think it would be benficial?In terms of approximate calculations it appears quite benefical but nomatter how plausible and promising it looks i learned not to jumb into exciting things with lack of experience What is your predictions about the next few month in terms of difficulty rates,exchange rates ect. I also come across with cloud mining and prices varies from 4$ (5GH/s) to  over $200(~50GH/s) per month but one of my friends who's into bitcoin mining for some time mentioned that his brother tried cex.io for a month for 4$ for a month but didnt find it usefull at all.Is this the case all the time for these days since cloud mining is considerably new and it might became better or minding your own mining buisness is better?Or is it because he started with the lowest option and they dont offer too much for small budget costumers,say if i start with 50GH/s would it be better than buying any hardware,if so please give detail.For now i'll stop writing as i realized i wrote a lot for my first post but please dont hesitate to give me indepth details as much as you can as im really keen to learn Thanks for sparing your time and reading have a pleasant day.May the Bitcoins be with y'all

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[Sonny]

First, You can see the historical different increase here at the bottom.
http://bitcoinwisdom.com/bitcoin/difficulty

You can see the difficulty went up 20-30% in less than 2 weeks.


I would also suggest you to take a look at this page.
http://bitcoinwisdom.com/bitcoin/calculator

You can change the figures in the profit calculator to see how your revenue is affected by the difficulty adjustment.
By comparing the revenue with the cloud mining hashrate price or the hardware price, you can get some idea about the profitable.



If you are talking about TerraMiner IV with $5999, I guess you are talking about the batch that is "expected" to be delivered in May 2014.
Please note that, the difficulty change in the coming months will severely affect your revenue when you finally get your hardware, and the delivery could be delayed.


BTW, you should separate your post into several paragraphs, so that we can read it more easily....

[oxfardk]

Really all you need to setup a great mining rig is a bunch of really good AMD video cards

[BlockChainLottery]

Another hardware comparison site I like.

Observing the forums for over a year, a few natural laws tend to show up. At least, in my eyes.

• Mining Bitcoins is only worth it, if you have quite some money to invest.
• When ordering mining equipment, it usually takes some time before you actually have it. There is a lot of demand for ASICs. So when you get your device, you must run it immediately to break even (at least) before the difficulty is too high. So what looks like a good deal today, can turn out to be a big loss.
• Why do companies have hashing power to rent? If it is profitable, they better hash for them selves. I would only try to rent it if I thought it wasn't profitable anymore, and sell it to gullible people (if I were a bad person ).

Just remember it's quite a risk you must be willing to take.
I hate it for saying (I'm not really a big supporter of pump-and-dump coins), but maybe the threshold for mining alt coins is a bit lower.

Anyhow, happy mining.

[hilariousandco]

If you can afford to spend that much on mining gear then go for it, but I'd advise against mining BTC altogether now and just mine an alt that you can trade for BTC and make your money that way.

[MegaHustlr]

Really all you need to setup a great mining rig is a bunch of really good AMD video cards

This, but it isnt really worth it anymore.

[EarlyAdopterCoin]

There is a reason AMD gpu's are sold out everywhere.

[Colin Miner]

There is a reason AMD gpu's are sold out everywhere.

Yes, they are all mining alts. The OP expressed an interest in bitcoin (although it was well hidden in a bunch of words).

[Sonny]

There is a reason AMD gpu's are sold out everywhere.

Yes, they are all mining alts. The OP expressed an interest in bitcoin.

Exactly.
The time for GPU mining bitcoin is long gone lol.