Re: mini setup (not alot of money to plunge into it)

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.

Hard? Check out my post above showing the numbers. Even not factoring in initial hardware costs at current BTC->GBP conversions OP is losing money every day by turning those miners on. Even if BTC went up to £350 OP would barely be covering the electricity to run the miners - and that's given the current difficulty, which is going to change in less than a week's time.

Maybe I was not clear. But I was not referring to your post. I was referring to the post i quoted.

I meant it is hard for BTC to go up and make this profitable. This is because of the amount of money being lost mining each day, it would take a drastic change in price.

I think we are in agreement that it is the OP's best interest to not bother to mine with the hardware listed

I put into numbers what you're stating. OP is mining at a loss until such time that BTC goes over £350, which is just going to make him a few pence a day even then... Assuming today's difficulty.

op should mine but on the smallest scale possible which is a usb stick.
1 stick = 10 pounds or less
1 stick = less then 5 pounds a year in power.
run the stick on a solo pool like ck's

https://bitcointalk.org/index.php?topic=763510.0

and run it on mmpool.org
https://bitcointalk.org/index.php?topic=700411.0

Most likely it will lose money but it keeps you involved and does not cost much.

He should buy a coin or 2. Which is about 200 pounds a coin(don't know the rates this is a guess)