Quote from: itayl2 on December 04, 2013, 05:50:18 PM

I'm very new to this game, so excuse my ignorance.

Say I purchase 312GH/s (3 rigs * 104GH/s) for around 13,500 USD. (sounds a reasonable price?)
According to what I know, 1800W consumption sounds about right for these rigs.

Obviously I join a pool before beginning to mine.

If I plug in the data in here: http://www.bitcoinx.com/profit/ with a time frame of 3 months, which I realize is a bit simplistic, but I get about 8390 USD net profits.

I realize difficulty may spike due to next gen ASICs and the fact that I would get the rigs only in Jan-Feb 2014, but what is the missing factor here that would convert profits of 8390 USD to some kind of a negative number?

What I am missing here?

90% of the posts here mention mining as no longer profitable. I'm wondering whether I'm missing something, or this is just a strategy?

Please help!

Because those that buy bitcoin when it is low at around 100-200$ already gain 5-10 times... meanwhile miners still trying to break-even