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Is Mining worth it?

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  • ProtoTech

    @pooktwo @prototech but eventually when you keep that up, the original antminers that you buy will produce less and less until they became obsolete, and i would think that money could be better used buying BTC directly since the sifficulty increases 10% usually ever 2 weeks. thats what happened when i purchased my BFL, obviously that was when ASICs were new so i DEF will not see ROI, it still hasnt produced a whole BTC and its been almost a year.

    The electricity they consume will be far less than the profit they will make for a very long time, therfor still profitable. The price of the AntMiner is always going down too, making the ROI almost always at 40 days. Strange how the math works, but it does. On top of that, AntMiner has had a very successful launch with the S3's that are more than twice as fast as the S1's at a reasonable price and consume the same amount of power, making them very profitable right now and for the foreseeable future. On top of that, once S1's become truly unprofitable (which they are still not at the moment) you will be able to underclock them to save power and squeeze out any last bit of profit.

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  • feryjhie

    i think worth but you need a few months to get it worth

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  • yuki

    I heard some people rent some rigs to get some coin. and many algo rigs likes Scrypt, SHA256, X11, X13, etc. visit this if you wanna try www.miningrigrentals.com

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  • alwinlinzee

    I think it worth it just tread carefully.

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  • rebelchicken

    GPUs are not Algo specific so if you have a farm already set up and the ASICs move in on that algorythm then you have the choice to sell up or to shift to another algorythm.

    X11 X13 ScryptN for example.

    With ASICS moving in on Scrypt there is no profit in GPU rigs now, especially with the power consumption.

    Swap to a different Al as soon as possible or sell your GPS quick!

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  • pooktwo

    @rebelchicken but we propose is great in two ways:

    -its not an algorithm, its a process called protein folding for medical research, so ASICs cannot do it at all (there is a supercomputer called an Anton that can, but this has not been developed for public use, if it did though that would be great for F@H)

    -instead of selling your GPUs, why not give back to the http://stanford.folding.edu project that helps create medicines that can better all humanity, not just the altcoin community

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  • rebelchicken

    @pooktwo

    sorry i was answering the immediate question of is it worth mining?

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