Quote from: philipma1957 on March 03, 2016, 11:43:03 PM

Quote from: Finksy on March 03, 2016, 11:25:08 PM

Quote from: pavlidmavrom on March 03, 2016, 09:50:24 PM

i bought recently my first miner the cost =779.86doll for the miner 140doll for the psu 99.5 for shiping .total 1119 doll+ taxes here in greece 360 € and the miner gives me each day 0.02 bitcoin so i have to wait over 7 months to get my money back not including electricity. is that right or have i done something wrong?

$780 + $140 + $100 = $1020

But still, you spent $1400+ on something assuming it would make you money without checking the math yourself?

Maybe he will luck out coins go to 600 in the next month and he can sell the miner at break even price.

I have to chime in. I was told the same thing last year May 1st 2014 that bitcoin is too volatile, miners cost too much (S5=$350-400) and you would never make a profit. I bought 1, then I went big and bought $20K in miners. 4 months later I paid the miners off, sold them for the same and MORE than I paid for them. I made a nice profit.

Taking a look at the strategic level:

1) What do you believe that Bitcoin price will be in 4-5months? 10months?
2) Can you reduce your cost to improve productivity (electric / equipment - Hosting)
3) Risk?
4) Can you afford to loose everything you put into Bitcoin?
5) Keep on talking on this forum. There are many wise people.

IMO - Bitcoin will raise dramatically. Not so much as to overcome halving, but keeping mining S7s profitable. At the same time there should be some more efficient mining equipment on the market. Another piece of information: if your electric rate is above $0.08 find hosting. Hosting will also rent PSU (power supplies units) to you anywhere from $5-10.