Quote from: Hook^ on June 19, 2011, 01:05:55 AM

Quote from: rograz on June 19, 2011, 12:59:33 AM

Quote from: Hook^ on June 19, 2011, 12:47:30 AM

Yes please do, because I am pretty sure I am correct. I am sorry about your hostility.

With your logic buying mining hardware would never have been able to pay itself off, is it more risky buying mining hardware today than it was a month ago or a year ago? perhaps, but then again mining was never a guaranteed return and neither was buying bitcoins directly either. There is no risk free way of getting into the bitcoin economy and as everyone else keeps saying never put money into hardware or BTC you cant afford to lose.

What I am saying is that you will get a better return just buying right now. Unless you already have a gaming machine, or are going to buy a machine for gaming as well. Then it is just free money until the power costs more than the bitcoins.

The growth rate of difficulty has been 4% a day for the last year, so yes, mining rigs have been less profitable than just buying bitcoins for the last year. If the network growth slows down to ~2.5% a year, then it starts making sense. The first year of bitcoin, the growth rate was almost flat, so you could make more money mining than buying bitcoins.

Keep in mind this is only about dedicated mining rigs. If you already have the equipment, there is nothing to lose by mining. At least for another 60 days when it reaches electricity costs.

Sorry, I meant 2.5% per day or less