Mining has piqued my interest over these last few days and I would like to do it for a profit and for fun as a hobby but from what I understand this is becoming increasingly difficult. I figure Bitcoin mining is too competitive to bother so I mainly have my eyes on Scrypt coins but I am afraid to invest in these GridSeed devices with all the supposed Scrypt ASICs right around the corner.
What do you guys think? Waste of time/money/resources?
I just invested into a few gridseeds. The only problem is that they are around $300 each (Unless you got BTC with you). So 1 GDS will break even in like 3-4 months. BTC is all over the place but I think for the price you're gonna be paying for the gridseeds, I would recommend getting a Antminer S1. Just my 2 cents.
Almost all equipment is priced with a break-even 3-4 months based on current value. Forecasting ROI is pointless because BTC has too much variation in pricing. The bulls and bears will dictate your profit or loss more than pricing of equipment. However, skip the pain of getting screwed, go buy some BTC and hit the group buys on the forums we've got some excellent sellers here.