I estimate that 1 GH/s is worth about 0.2 BTC at most because of the skyrocketing difficulty. If you pay (or recently paid) 0.24 BTC per GH/s, you are going to lose money.
Ok, thanks for the advie. But I did do a bit of research and appearently its legit. I bought 0.42 gh/s with some left over btc I had. Just to try it out. But why would you say it would not be worth at around 0.24? I payed 0.22 btw.
The difficulty is rising quickly and 1 GH/s will mine less and less. My estimate is that the total revenue from a 1 GH/s miner will be less than 0.2 BTC (much less now that the difficulty has risen by 30%), and you paid 0.22 BTC. For example, if the difficulty continues to rise 30% each period for the next three months, here is the revenue from 1 GH/s over that time:
Period | Revenue (BTC) | Cumulative Revenue (BTC) |
130 | 0.0372 | 0.0372 |
131 | 0.0286 | 0.0658 |
132 | 0.0220 | 0.0878 |
133 | 0.0169 | 0.1047 |
134 | 0.0130 | 0.1177 |
135 | 0.0100 | 0.1277 |
136 | 0.0077 | 0.1354 |
After 3 months you are only 1/2 half way to breaking even, but notice that the revenue is dropping. It is dropping fast enough that you will never break even.