$#@! and stuff

[Facekicker]

Jw. How would I know what my computer is doing g/hs wise? I doubt I'd do it but could be fun to bs with. Msi raedon 7870 ghz and overclocked. Amd fx8350 8core.

Or is this shit and not even remotely worth it?

It's difficulty has evolved to the point that most computer rigs are not enough, or if they are something with dual 7990s or something it's not cost effective. Your 7870 will hash about 250mh/s which is not profitable. The CPU is thousands times less efficient than your graphics card.

so im looking at this setup right now, wouldnt it make sense to just build my own and work out cheaper?

http://www.ebay.com/itm/Bitcoin-Litecoin-Mining-Rig-Ready-to-ship-7GH-s-700MH-s-/161098644846?_trksid=p2054897.l4276

I will sell you 3 USB sticks all for 50.00 shipped that will do the same speed as that machine. That machine is ANCIENT and will cost 20x more to run than the USB sticks. You've got two ways to look at it. If you want to tinker and save up some fractions of bitcoins now, don't spend more than a few hundred on equipment to mine with, knowing that you wont get your full money back in today's value of BTC - you're hoping what you get today rises in value beyond your investment. If you're bloody serious and want to hit this bigtime, right now, you want to invest in BTC directly. I'm out of time right now but I will elaborate on this later today or tomorrow.

[Tarball]

@Facekicker

You seem to be knowledgeable about BTC mining. I have been looking into it and doing research since this thread first started. Also been trying to find out where I can get some money to invest in a miner.

I see that BTC are likely here to stay but the mining arena has the scent of scam to it for some reason. I'm interested in throwing some effort at it though.

So here is my question. I have been considering putting a few grand towards a 1.2 TH\s rig. Cost is around $5500. Give me some reasons based on your understanding as to why this would be a bad idea.

Thanks

[Facekicker]

Over the next few months you will see difficulty rise at a faster than previously known pace - this is from two companies finally shipping 300+ gh/s systems now, with two other companies stating they'll ship by years end. Because the mining industry works on a preorder basis, it's simply too late to mine right now. By the time you get hardware ordered today, it will be near the end of its run; you won't profit due to difficulty - or, you would profit more with a USD --> BTC investment directly. The next phase to load up on hardware appears to be around February, as this is when the dust should settle from the current hardware boom. Hold off on your 1TH rig, there are 3, 5, 10s in development.

If you want to get involved now, the surefire way to not lose is to buy BTC directly.

If you do buy a powerful rig now, like a TMII or TMIV, you might not get it mining in time to beat difficulty and return your investment cost. People have orders on those since August.

I suggest waiting for a proven company to announce preorders for their next gen rigs. I have eyes on Cointerra but obviously also KNC.

You could buy 27 BTC for the money the rig you mentioned would cost. What if in the end of things you only got 20BTC out of the miner? Yes if BTC value rose you could possibly still make a return, but you have to make a comparison to a direct buy of BTC.

Its simply a safer and certain call going direct with BTC for the time being.

I myself feel I barely made it in time. Had my Jupiter been delayed another week or two I wouldn't expect to profit as well as I now project. Still have 25 days to go to break even.

[SMZ2]

I'm definitely interested in bitcoins. So are you saying that it's safer to buy the bitcoins then later trade it back over for usd?

[Facekicker]

Right now, yes.

At the start of the year I will be looking to put money down on another preorder, expecting to get the actual hardware mid year. All of the currently developed hardware is bound to get outpaced before it could pay for itself if you were to place an order today.

[Facekicker]

Hope you guys took my advice. Bitcoins are at $525 as i type this. They were at $200 when I last posted.

[30Hz.wav]

Hope you guys took my advice. Bitcoins are at $525 as i type this. They were at $200 when I last posted.

So if I bought 5 bitcoins at $200 each when you last posted, right now I would be able to cash out for $2625?

[Facekicker]

Yes.

It's a profit of $1625, a return of 162.5% on your $1000.

edit: phone typing

[30Hz.wav]

Yes.

It's a profit of $1625, a return of 162.5% on your $1000.

edit: phone typing

Would you say it's too late to already buy some? The price seems to keep going up. I think the best time was when you said it was at $200.

[Ram]

I own 18 bitcoins. I dont know if I should sell though. Seems too good to be true.