Quote from: Markcus on September 20, 2014, 03:26:07 AM

Need advice !

This question is more directed to the bitcoin miners. I have been Bit-coining for about 8 months now and I really enjoy doing it. The only problem is I'm not making any profit, long story short I have spent around $1500 and only made $ 500.00/ I have 4 miners pumping out 450 gh, and on a good day I might make .01 bt which means I will most likely never see a profit with my current set up... So here are my questions;

1) Is bit coin mining dead ?, should I though in the towel.
2) If it is not dead, should I buy a really big bitcoin miner $2000.00+, or lots of smaller ones ?.
3) What should I buy next and where should I buy them ?.

Thanks for the advice.

The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.

If you want to keep mining, you need to find one of those websites that calculates the profit you make over time vs. cost and figure out ahead of time whether or not your miners will be profitable.

You will have to do your research if you want to be successful and find a reputable company that sells cost-effective miners. If you buy from one of the overpriced companies, or scam companies, then you're fucked.