Campsis (OP)
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Activity: 112
Merit: 10
WW3
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September 28, 2014, 11:05:03 PM |
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I don't want a 10 page answer please!!
Please make your answers as short as possible, a simple yes/no will do.
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No Gods or Kings. Only Bitcoin
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lyth0s
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Activity: 1260
Merit: 1000
World Class Cryptonaire
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September 28, 2014, 11:11:39 PM |
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If you buy actual mining hardware then no. You will be eaten alive in cooling and electricity cost.
If you use cloud mining, IE Gaw Miners hashlets, then potentially. I just hit 85% ROI today after 35 days of mining and will reach 100% soon. Also if you're new to mining, never ever buy pre-orders they essentially never work out. If you going to buy hardware instead of cloud mining I'd suggest bitmaintech as they deliver SHA-256 items very quickly. If your going to buy scrypt hardware either wait for Bitmaintech's new device to actually be SHIPPED (do not pre-order) or buy from Gaw miners.
TLDR: I'd suggest cloud mining or buying bitcoin directly.
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sublime5447
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Activity: 966
Merit: 1000
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September 28, 2014, 11:12:01 PM |
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Not for individuals
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generalt
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Merit: 1021
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September 29, 2014, 02:16:11 AM |
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Or unless you have free electricity, but even with free electricity newer miners like the S4 would take over a year to ROI at 15% difficulty increase.
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BTC: 1GENERALrtBAjEv2Ps5cmEW1FADnXh1bCZ
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Minor Miner
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Activity: 2282
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Be A Digital Miner
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September 29, 2014, 03:16:14 AM |
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I do not think at any time since the batch 1 avalons anyone can make a case that it was more profitable to buy miners than to have just bought the bit coin with the same amount of money. The only possible exception to that is likely the people that used bit coin at $1000 to buy from KNC and then received US $ refunds (which is not mining).
Cloudmining is so stupid I cannot understand why anyone would do it. You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.
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Stargazer
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▰▰▰ Global Cryptocurrency Paymen
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September 29, 2014, 04:10:49 AM |
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Cloudmining is so stupid I cannot understand why anyone would do it. You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.
What about hosted mining? I'm doing it right now and don't see a huge difference between buying a whole miner that is hosted and buying shares. |
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Minor Miner
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Activity: 2282
Merit: 1012
Be A Digital Miner
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September 29, 2014, 03:55:52 PM |
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Cloudmining is so stupid I cannot understand why anyone would do it. You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.
What about hosted mining? I'm doing it right now and don't see a huge difference between buying a whole miner that is hosted and buying shares. Depends on what you mean by that BUT, if you pay someone else to host your miner and you pay ANYTHING other than a percentage of the bitcoin mined, you could lose this gamble big time. Example, if you are paying $200 US per month to host your miner with someone else there could (likely) will come a day, when you owe the host MORE than the coin that was mined. What do you do then? Does he get to keep the miner? Do you ship the miner back to yourself (to do what with it?)? You can simply make scenarios in your head with a combination of difficulty and price where this happens (and sooner rather than later). Do yourself a favor and figure out how many coins per month your miner is production with the 245,000 TH/s that the network now is (1 TH/s / 245,000 TH/s X 3600 coins a day = 0.0147 coins a day). The network is still growing but let's pretend it is not growing. You are currently receiving 0.44 Bitcoin per month for that 1 TH/s miner. It does not take bitcoin to drop much lower before you cannot even pay your hosting bill let alone ever get the money back from the miner purchase. |
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Notso
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Activity: 42
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September 30, 2014, 01:59:56 AM |
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Yes, in ccertain situations, and with cheap hardware
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colsatre
Newbie
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September 30, 2014, 02:22:28 PM |
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Depends on your budget and proper setup.
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moko666
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September 30, 2014, 02:42:42 PM |
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it is profitable if you have big ASIC for mining and have some patient for return of your investment
if you are thinking amount mining with small hardware like GPU or small asic then you should avoid this
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ChuckBuck
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September 30, 2014, 02:58:54 PM |
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Unless you're an Asic Manufacturer and create your own chips and hash boards, the answer is a resounding NO.
Just buy BTC at this undervalued price, you won't regret it!
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mmeijeri
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September 30, 2014, 03:54:51 PM |
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Or if you have the expertise that's necessary to run a large mining data center and live in a favourable location.
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ROI is not a verb, the term you're looking for is 'to break even'.
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ErikvanBreen
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September 30, 2014, 04:07:06 PM |
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LTCgear still is amazingly profitable if you ask me, estimated ROI of 5-6 weeks if you pay in BTC and use the coupon code "anniversary1yr" even with the crash in Bitcoin value. See my sig for their site  Could also sell you a smaller amount of shares for the same price per Mhash. |
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FloridaBear
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September 30, 2014, 04:28:49 PM |
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I can't find any hardware currently available that has a good chance to ROI. Any bitcoin miners that approach 1J/GH are already dead. Even the ones that are decent (e.g. Antminers) are way overpriced.
Scrypt mining is harder to predict given the less-than-predictable LTC difficulty increases...but I have to believe that with KNC shipping Titans now, that has to go up too, maybe even faster than BTC difficulty. And I can't find any Scrypt miners that are profitable either given 10% increases in difficulty. Some EBay auctions are absolutely ridiculous--thousands of dollars for 28 MHs miners. I wouldn't pay more than $10 per MH now, and there just isn't anything out there that is close to being able to ROI. Preorders (Volcano, etc.) are very risky.
TL;DR...no.
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mmeijeri
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September 30, 2014, 05:04:00 PM |
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I can't find any hardware currently available that has a good chance to ROI. Any bitcoin miners that approach 1J/GH are already dead. Even the ones that are decent (e.g. Antminers) are way overpriced.
If you want to break even, you'll probably have to produce your own ASICs, or buy in large volumes so you can get a significant discount. |
ROI is not a verb, the term you're looking for is 'to break even'.
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ErikvanBreen
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September 30, 2014, 05:16:49 PM |
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I can't find any hardware currently available that has a good chance to ROI. Any bitcoin miners that approach 1J/GH are already dead. Even the ones that are decent (e.g. Antminers) are way overpriced.
Scrypt mining is harder to predict given the less-than-predictable LTC difficulty increases...but I have to believe that with KNC shipping Titans now, that has to go up too, maybe even faster than BTC difficulty. And I can't find any Scrypt miners that are profitable either given 10% increases in difficulty. Some EBay auctions are absolutely ridiculous--thousands of dollars for 28 MHs miners. I wouldn't pay more than $10 per MH now, and there just isn't anything out there that is close to being able to ROI. Preorders (Volcano, etc.) are very risky.
TL;DR...no.
Why don't you try LTCgear which is $5.5/Mhash including a full year of free hosting? No hardware at home and still cheap hashrate with weekly payouts. |
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notlist3d
Legendary
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Activity: 1456
Merit: 1000
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September 30, 2014, 05:56:46 PM |
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I can't find any hardware currently available that has a good chance to ROI. Any bitcoin miners that approach 1J/GH are already dead. Even the ones that are decent (e.g. Antminers) are way overpriced.
Scrypt mining is harder to predict given the less-than-predictable LTC difficulty increases...but I have to believe that with KNC shipping Titans now, that has to go up too, maybe even faster than BTC difficulty. And I can't find any Scrypt miners that are profitable either given 10% increases in difficulty. Some EBay auctions are absolutely ridiculous--thousands of dollars for 28 MHs miners. I wouldn't pay more than $10 per MH now, and there just isn't anything out there that is close to being able to ROI. Preorders (Volcano, etc.) are very risky.
TL;DR...no.
Why don't you try LTCgear which is $5.5/Mhash including a full year of free hosting? No hardware at home and still cheap hashrate with weekly payouts. I like having the hardware in hand. With renting out Scrypt i have been able to make more the regular payouts no secret there. With that free hosting o a year I don't think you own the hardware. That is a huge con. Selling hardware at end can add some extra profit. With "cloud" you really do a long term lease, not buying hardware. I have been able to successfully ROI each time i trade up. This time will be harder if bitcoin does not go back up in price. To do a ROI i really feel you need to buy a miner priced in BTC example is S3 compared to S4 priced in dollars with current exchange rate. |
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MilesJohan
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October 01, 2014, 08:05:53 AM |
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No, not even for manufacturer now...
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MileyJohanson
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