Is mining worth it? Thinking of investing

[Revolution]

I just cashed out 3300$ worth of BTC via bistamp.

I am wondering if mining is worth it and where I can start.

Which miner should I buy? Should I wait for Scrypt or stay with BTC?

I like the idea of Scrypt since it might make a lot of profits in first year or so, but I am worried it will be denied and just shut down as it begins. Also with BTC Miners I am worried because in just a couple months more powerful ones will come out until the ones I will buy produce close to nothing.

Are there specific miners that are worth investing in?
What do you guys think.

[philipma1957]

I think the sp10 may be worth a go .  you have enough to get it. you could even have them host it.

https://bitcointalk.org/index.php?topic=521520.0

[bitgeek]

I wouldn't mine at home, checking the gear can be time consuming. Try hosting services like the ones at www.gawminers.com

[Operatr]

As an investment, don't do it. You will never make any return over just buying and holding BTC. Even altcoins arn't as profitable as one might think unless that coin happens to get a massive pump. I've gotten stuck with a pile of coins I couldn't sell before because liquidity dried up.

That said, its just an expensive hobby for anyone without access to thousands of Dollars and the manufacturing price for the miners.

[Korbman]

I just cashed out 3300$ worth of BTC via bistamp.

I am wondering if mining is worth it and where I can start.

[...]

From what it sounds like, you've already made up your mind that mining isn't worth it (at least subconsciously).

To spend $3,300 on mining gear, you'd have to look at how much Bitcoin (or altcoin, but lets keep it simple for now) revenue that equipment would generate. Think of it this way; if $3,300 can get you BTC5.0 (@$660 on an exchange), what equipment is out there that can generate more than BTC5.0 over time (after operational expenses)? For the most part, the smarter play is to invest in Bitcoin directly unless you have access to cheap power / low cost hosting.

[ChuckBuck]

Without access to 2 TH/s+ or higher, it's unlikely you'd ever mine back $3300 worth of BTC.

https://bitcoinwisdom.com/bitcoin/calculator

If you still want to mine just to learn or for hobby, get an Antminer S1 or 2.

If you're mining for profit or ROI, it'll be difficult without multiple TH/s worth of miners and cheap electric or hosting.

[Dalkore]

Without access to 2 TH/s+ or higher, it's unlikely you'd ever mine back $3300 worth of BTC.

https://bitcoinwisdom.com/bitcoin/calculator

If you still want to mine just to learn or for hobby, get an Antminer S1 or 2.

If you're mining for profit or ROI, it'll be difficult without multiple TH/s worth of miners and cheap electric or hosting.

^^^^^^ This is decent advice at this stage of Bitcoin mining. 

[ChekaZ]

I wouldnt invest into mining right now, unless its cloudmining. I dont think you can get ROI in any way with buying a miner :/

[nickenburg]

I wouldnt invest into mining right now, unless its cloudmining. I dont think you can get ROI in any way with buying a miner :/

Yeh its a risky investment now to invest in to mining equipment, look at the butterfly lab guys still waiting for there miners.
But if you are still gonna invest, I would look very close where you are gonna buy your equipment.
Maybe even some where you can pick up the miner so you certainly have the miner the day you want.

[worhiper_-_]

Take a look at zeus and their distributors. 

[Dalkore]

Take a look at zeus and their distributors. 

That doesn't change my above statement.  What do you like about their distributors?

[Glizlack]

Zeusminers are all scrypt miners. The op was asking about bitcoins.  There is a lot of drama right now with zeusminers as they decided to release now with a chip pulling 3x's the projected power. They did increase the hash rates people receive however. In any event its not applicable to this thread as again they ONLY make scrypt miners.

Steve

[xstr8guy]

Mining@home is dead. Long live the datacenter! Lol.

Seriously, by the end of summer, you won't be able to host enough hashing power in your own home to make more than a pittance without spending thousands rewiring and adding industrial cooling.

If you're a hobbyist and love playing with tech toys, enjoy! But don't think you're going to ever be able to quit your day job. 

[DolanDuck]

Don't cash out your $3300, the best investment you can do right now is to buy btc directly because
we are at the very beginning of a new uptrend.

[xstr8guy]

Don't cash out your $3300, the best investment you can do right now is to buy btc directly because
we are at the very beginning of a new uptrend.

Or at the start of another downturn. Who really knows?

[martinnew]

Been actively reading posts in this link and I think this will be worth it.
https://bitcointalk.org/index.php?topic=602022.0