thank god for that xD
so with the new updated price will i see any profit do you think?
You will see a profit if you mine now and then BitCoin price gors up a lot. In that case you will be making a bigger profit if you simply buy BitCoins now. It is also a lot less work.
I would not promise that. With "electricity cost: £16.82 KWh" and less than 250 GHz of gear it will be hard. Chances are you will be lucky to pay off the gear even at that electricity price and miners you mentioned.
My point was even in the optimistic event that he makes a profit by mining, he stands to make a bigger profit by buying Bitcoins now instead. It is also a lot less work, simply buy and hold.
well buy and holding, it's good and all, but it will not increase your btc count, which is the point of mining
Over the lifetime before the mining equipment gets outdated, the total amount earned through mining is less than the total bought in for the same amount spent. So buying and holding doesnt increase but in th efirst place it is more.
Besides, there are investment opportunities which may let you earn a small interest on the Bitcoins.
