I Built 30 rigs, each with 3 x 5830's which all and up cost me 15k which I purchased on credit cards at close to 20%. I am not making much money or bitcoins since the difficulty has gone up, I would have been quite well in the clear if I sold my bitcoins at $30 but I still have them, I don't want to sell them under $15.
Is the price of bitcoins going to go up, if so I will be alright but I am uncertain if I can continue to generate bitcoins in a profitable way. I still have to pay off the credit card. What do you guys think?
First, I call shenanigans, because no one would be foolish enough to invest 30,000 in bitcoin mining without trying it out on a small scale first. Second, asking if the price is going to go up is pointless. If anyone knew the answer with certainty they would buy up all the bitcoins they could right now so they could sell them if/when the price went back up. Third, you paid way too much per Ghash/sec if you really spent 30 thousand!
You might have to start considering whether or not you should start selling the hardware. Your chance to make a profit in this still exists if you got the video cards at a decent price. There are tons of people who will pay inflated prices for them right now.