New miner & looking to invest. Is it worth it?

[Bradtartaglia]

Hey guys- New to the forum and looking for some advice.

Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware?  I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated!  Like anyone, I just want to make sure I make a smart investment and not just jump into something.


Thanks!

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[philipma1957]

what is your power cost?

at 10 cents a kwatt 18000 gh costing 6000 usd  will lose 5000 to 2000 usd.

but at 5 cents a kwatt 18000 gh costing 6000 usd will lose 3000 to make  5000 profit

so if your power is really cheap it may pay-off.

[adaseb]

Nobody can predict what will happen in the future

If we all knew Apple would be the #1 company in the world, we all would of invested in 1998.


You will either make alot of money, make nothing, or lose alot of money.

Its a risk, either take the risk and reap the rewards or losses or don't.

[Bradtartaglia]

what is your power cost?

I live in PA so it is about $0.09/ kWh

[philipma1957]

what is your power cost?

I live in PA so it is about $0.09/ kWh

I think you will lose money.  I can be wrong.

[Bradtartaglia]

what is your power cost?

I live in PA so it is about $0.09/ kWh

I think you will lose money.  I can be wrong.

Just to be more clear because I forgot to add this in my post.

I'm looking at 4  Spondoolies SP30 's . 4.5TH/s

[ChuckBuck]

what is your power cost?

I live in PA so it is about $0.09/ kWh

I think you will lose money.  I can be wrong.

Just to be more clear because I forgot to add this in my post.

I'm looking at 4  Spondoolies SP30 's . 4.5TH/s

If you're looking at Spondoolies SP30's, you might as well go for the SP31's at 4.9 TH/s:

http://www.spondoolies-tech.com/products/sp31-yukon-shipping-from-stock

Don't think they sell the SP30's anymore anyways.

[sidehack]

You can find secondhand SP30s in the sales forum for around $1600, but scrounging up 4 at that price range would be difficult.

[mtwelve]

I think it would be better to just buy them. The 4 $1600 machines would be around 30 BTC, so unless you can find mining hardware that can mine 30 BTC at the same price, it's ALWAYS better to buy.

[cryptopaddles]

Hey guys- New to the forum and looking for some advice.

Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware?  I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated!  Like anyone, I just want to make sure I make a smart investment and not just jump into something.


Thanks!

at 0.09/kw/h very likely you will end up losing money in the end

[resya]

It's not profitable anymore to mine bitcoin unless the price will rise to at least $600. Rather than spending $200 on your electric bill and mining 0.3 BTC, you're better off buying 0.8 btc with cash