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?
Idiot.
Only comment I can ever give on someone financing a business at 20%.
Ever occured to you that running it as a business, you know, with sound business deciions, wold change your financial outlook?
my credit cards pay 12.5% rate after 60 days and this is the high end - I never would use them for an investment like that.