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Is investing in mining even worth it?

post #1 of 4
Thread Starter 
Hi everyone,

I've been thinking the last while a lot about investing in mining hardware for crypto-mining.
Here are the things I've been thinking of:
-Solo buying a KnC 175 GH/s miner for $4k - If the difficulty was 10x what it is now (190 million) it would be paid off within 90 days, but if the difficulty was 100x what it is now (1.19 billion) then it would take 3 years to pay off - what do you guys think about this? At the current difficulty it would make around $450 a day after power costs. The main worry I have here is that we'll have a BFL type issue; it'll take them a year to ship, or they just run off with people's money.

I've already planned to sell my current mining rig; I have a friend who wants to buy the GPU and another friend wanting the rest of the build, so that would make me around $700 in total. I'm thinking of getting an 8970 crossfire when they release for my main rig, and using the to game and mine on, but by then GPU mining probably won't be profitable at all.

SO what do toy guys think about investing in a $4k miner? It takes me around 1/2 of a year to make this money (part time job + odd jobs) so it is a fair amount of money to be investing..
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post #2 of 4
Worth it to me...
    
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post #3 of 4
Thread Starter 
Quote:
Originally Posted by Hokies83 View Post

Worth it to me...
The thing I'm worried about though is that I'm late to the game, they've already sold 160TH/s worth of hardware, what's the chance of me getting it by September?
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500 GB Seagate Barracuda Stock Windows 7 LG 20" 900p display 
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post #4 of 4
It is a risk but no risk no reward.

Difficulty will go up.. but 100x? no way...3cx by sept .. maybe...

You have to also look at it like this... i bet 1/3rd the hash are still gpus... take them out of the number and the hash is not as high as u think it is.

Also since it is Sha based... what is stopping you from using it for Terra coin? It spikes to 170$ value of btc every week or so.
    
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CoolingCoolingCoolingOS
Monsta 360 86mm thick rad X 4 MCP 35X Pump x2 400ML Frozen Q Fusion res x3 Windows 7 Ultimate 64 bit 
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CatLeap 2560x1440 + Acer hn274h bmiiid 120hz 3D Logitech G19 Corsair Ax1200 watts  Mountain Mods Ascension 
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