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Expect x10 to x30 in the next 12 month
My point is that this just doesn't seem to be a great investment. All the time people on this board are putting into mining questions and only some are actually mining, the time investment alone is prohibitive for me even considering getting in. Money is no object for me, but I can't buy the expensive rigs (Avalon and BFL) - certainly not going to give them my money with such a poor track record...there are better investments.
I'm not expecting GPU mining to be profitable for much longer
No kidding....
Grinandbearit - I've got about $2500 in this one, not counting the stainless sheet or any labor/machine time going into making it. I did all that on my own, so I consider that free. My time is worthless I guess haha
No kidding....
Grinandbearit - I've got about $2500 in this one, not counting the stainless sheet or any labor/machine time going into making it. I did all that on my own, so I consider that free. My time is worthless I guess haha
If you had put that $2500 into Bitcoins a couple weeks ago when it declined so much...your would have doubled your money by today's price. Then you just sit and wait for Bitcoins to hit $500 each...or more...if you firmly believe it will. Think of the babysitting you do with your rig...Bitcoins in a wallet require no commitment. 90% silver or 1/10th gold coins don't either. Perfect time to buy precious metals is now. Mining seems to be a humongous waste of time.
You'd probably be right, but building this rig was pretty fun and I don't much mind babysitting it. Heck, that's mostly what my job consists of any more, babysitting a bunch of computers lol. One more, once I get it going good, shouldn't be much of a burden. I also want to make myself known as a custom computer case manufacturer, and what better way than building my own functioning rigs? (I've got more in the works too, including a 3630k/firepro v5900/64! Gb)
So you'd be right, I wouldn't really recommend anyone invest in mining unless power is free and you don't mind switching to another cryptocurrency rather soon.
I'm still debating a preorder with BFL, but I'm not just handing my money over with no protection. Being as I'm so close I might be able to use local courts to my advantage if I needed to, but I'm going to talk with a lawyer or two about that first. I have a feeling if they wanted to they could hide all their assets from any civil litigation, but I'm no lawyer so I'll quit talking now haha..
Thanks for the comments guys!