Is bitcoin mining now forever extinct to new miners? With the more and more increasing difficulty level is it now unprofitable to start as a miner? Done a few calculations with one of the more powerful devices available (well almost), the Knc 550 ghps model. And looks like you'd be lucky to make a return on it, even with an optimistic rise in difficulty at 30%.

At about £3000 for the 550ghps model, looks like you'd only get a return of £775 profit after 6 months, at which point it would then no longer be worth turning on as it wouldn't cover the electricity costs.

Thoughts? Hoping I'm wrong, but isn't looking so with the rapidly increasing pool size.




Excel sheet: https://www.dropbox.com/s/1q7gleyq78uilj5/deeppockets.xlsx
(For non-british, excuse the £!)