Should I buy a bitcoin miner?

[1275783]

Hi, I want to buy a bitcoin miner but I want to make some money. Should I buy a SP30 YUKON miner for around 3900$. My electricity cost its about 8 cent per KWh. The SP30 YUKON miner its 4,5TH/s and 3000W. I don't want to buy this machine for 3900$ without making money. Should I buy it and how much will I make?

[QuestionAuthority]

No, you can buy almost 8 Bitcoins for $3,900. Hold them for the life of a Bitcoin miner and you will make more than mining.

[ABitNut]

Crossposted: https://bitcointalk.org/index.php?topic=743901.msg8409667#msg8409667

[1275783]

I dont want to to wait a long time to make money. I just want to make it faster.

[thefunkybits]

No, you can buy almost 8 Bitcoins for $3,900. Hold them for the life of a Bitcoin miner and you will make more than mining.

+10000

Buying a BTC mining rig, escpecially when the price is low has historically proven to be disastrous

Mining might be a cool hobby to show your buddies, but buying and holding BTC has always been more profitable than mining

[RoadStress]

I dont want to to wait a long time to make money. I just want to make it faster.

You won't make money faster by posting 2 identical topics with different text colors!

[1275783]

yeah I know that I did 2 same post, but I need faster response. Thank you for your advice.

[bozo333]

Forget the whole mining thing...you are relying on others way too much.

[jonnybravo0311]

yeah I know that I did 2 same post, but I need faster response. Thank you for your advice.

Bitcoin mining is NOT A GET RICH QUICK SCHEME!

You will not spend $3900 and turn it into $10000 overnight.  By the way, you won't get that SP30 until September/October.  If you want a get rich quick scheme, look elsewhere.  Of course, you could take the advice given earlier: spend that $3900 on buying BTC directly and then sell it when the price increases.  Instant profit.

[xstr8guy]

You certainly won't earn your investment back quickly... if at all.

4.5THs right now, will earn you less than 0.10 BTC per day. This amount will decrease 15% every 12 days on average because of difficulty adjustments.

And if you order an SP30 today, you will probably not receive it until the end of September. At that time an SP30 will earn an estimated 0.06 BTC (about $30 at current exchange rate) per day.

So how's that for a quick return on your investment?!  Yes, it sucks.