Post
Topic
Board Mining
Should I invest in a mining rig?
by
hunk
on 27/05/2011, 17:34:43 UTC
Hello everyone...
I found out about bitcoins about a week ago,and have been thinking of setting up a mining rig...
I was just wondering whether or not it is affordable to do so,at this point,or if I should just buy bitcoins instead....

The reason I was thinking of getting into mining is that I wanted to buy a new desktop computer anyway,and I figured that I would be happy if it would be able to at least pay for itself....

What I want to know is how many blocks I should expect to get every month,and whether those blocks would be enough to pay for my electric bill or not...
The current exchange rate for Euros is at about 6.5 per coin so that means 325E.

And the prices per kWh are the following

0 – 800 kWh   0,05400
801 – 1000 kWh   0,06860
1001 – 1200 kWh   0,07100
1201 – 1600 kWh   0,07270
1601 – 2000 kWh   0,07270
> 2000 kWh           0,08174

Assuming that I don't use up more than 1200 kWh per month my bill would be about 70E plus taxes and the like....So let's round it up to 100 Euros...

Also,how fast does the difficulty rise,and how long should I expect to last,until I spend more than what I'm making?

Thank you for your help,and hope I can become a bitcoin miner myself...