2th/s bitcoin mining rig worth it ????

[luckytrade]

Hi there hope i get some positive info on this as im quite new to mining ... I here alot of mixed results when it comes to profitability with mining.

What i would really lile to know is would a 2 th/s system that i paid $8000 for be worth it over a years worth of mining with or withought having to pay for electricity bills

From what coin warz tells me i should be earning roughly 60 btc per anum

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[cloverme]

(First, you're dealing in TH/s (terahashes per second), not TB (terabytes).  TH is a measure of computational power of your equipment, tb is a measure of storage. There's no storage to be concerned with in mining.)

You're looking at about 4 months to break even if BTC stays at the same BTC/USD rate. Mining is high risk, so don't put into it what you can't afford to lose if the market goes down. Don't go into debt over it...

[beatljuice]

Do I think mining bitcoin is profitable? Yes. But it's very variable and speculative.

CoinWarz is a great reference, but remember that is only giving you information for the current difficulty. The difficulty will probably be over 20% higher in about 12 days - which means ~20% less bitcoin for the roughly 2 weeks after it goes up, then the difficulty will likely go up another 20% in another ~14 days.

But, I tend to assume that over the long term the $ value of bitcoin will go up relative to the difficulty.

I was strongly considering a hardware purchase also (Black Arrow seemed like a good deal) and finally landed on hosted mining. First I did CEX.IO for a few weeks and then I discovered PBMining (link in signature). It's more expensive per MHz than hardware initially, but then you don't have to pay for electricity and worry about making sure your machine is running properly. I've had 2 payouts now from them and been real happy with the customer service also.

Yes, that is an affiliate link, so you can take this post as an advertisement if you like, but I like to think most people will consider me honest. I do have over a THz purchased from them so far and plan to get more.

[idrathershred]

I'm currently mining at 2th/s and im making about .2 btc per day at the current difficulty. The difficulty goes up roughly every 2 weeks and I make about .03 less per day each time. Just to give you an idea.

[purenewfoundlander]

(First, you're dealing in TH/s (terahashes per second), not TB (terabytes).  TH is a measure of computational power of your equipment, tb is a measure of storage. There's no storage to be concerned with in mining.)

You're looking at about 4 months to break even if BTC stays at the same BTC/USD rate. Mining is high risk, so don't put into it what you can't afford to lose if the market goes down. Don't go into debt over it...

I agree with stating here, new to mining myself I can confirm I am mining at 2 TH a day and averaging .2 btw a day.  Of course this will go down over time as difficulty increases.  It is fun but be wary of the risks.  Best of luck whatever you decide.

[luckytrade]

Wow thankyou for all tye positive posts good to see

And woops lol i meant terrahash lol thnx for the correction !

Wow so what your saying on average the difficulty goes up 20% every 2 weeks ?? Wow that is alot i have the money and im prepared to lose it im just wanting to know my chances with making a decent proffit ...

Maybe ill have to look into multi pool mining...  still if i was able to mine 1 btc a week i remon it would be more then Worth it !

[Syke]

Hi there hope i get some positive info on this as im quite new to mining ... I here alot of mixed results when it comes to profitability with mining.

What i would really lile to know is would a 2 th/s system that i paid $8000 for be worth it over a years worth of mining with or withought having to pay for electricity bills

From what coin warz tells me i should be earning roughly 60 btc per anum

With difficulty increases, you might earn about 20 btc. I'll let you decide if that's profitable or not.