Originally Posted by Willanhanyard
I would really discourage you from investing that much money into mining. If you buy a new mining system with the most efficient mining components for the price (like the 7950/280x), it will take something like 100 days to pay off. That scenario doesn't even consider a rise in difficulty or possible introduction of ASICs into the market. I would be really careful about dropping $12,000+ on GPUs alone to just mine considering this. I mean imagine being short over $12,000 for over 3 months being uncertain if you are going to be able to break even. In 3 months we saw BTC explode 1000% in price, imagine what the market will do in the next three months. No one knows. So please make sure you want to do this is all I am saying.
The first rig I am being sponsored by a company to build it, super stoked about that!
With the profits from that, I will be able to make another rack that I can use at school. Then, with my grandfather's investment money, I will be able to start the build process of the large miner. The return is about 40 days when I calculated it and I plan on having these things running here within a week or two. I feel confident that I can make my money back before the ASICs ruin everything.
Thanks for voicing your concern! I appreciate everyone's input!