Can we backtrack here for a second..?
It's almost november 2014, the mining difficulty increases by ~13% every 2 weeks. There's many websites out there that'll help you calculate a POSSIBLE roi, power costs, difficulty increase, etc. so.. lets say I have $4,000 right?
Why would i purchase any form of hardware for this amount (including shipping, PSU's, etc)? I'll have to take care of the miner, deal with the sound, the space it'll take, etc. and only to HOPE to get an ROI. So, with the 4 grand i've purchased any x, y, or z rig to mine. I'll have to keep paying the electricity bill, cause someone has to right?
So.. lets say instead, I invest this $4,000 in purchasing BTC itself. That's about BTC11 at a price of $360 USD (about current)
now, i'll have BTC11, no need to pay for power, shipping, delays, keep a computer (or rasppi) running, no need for a ethernet hub, etc etc. And, lets say we do see a spike again in BTC that takes it to at least $500.
well I purchased BTC11 @ a price of $360, but now they're worth $500 each. $500 x BTC11 = $5,500. Minus what I had to pay for upfront, which was
BTC11 x $360 = $3960 for a total profit of about $1,500. Of course, you could wait for a bigger spike, maybe we'll hit $1,000 per BTC again. or more..
so tell me. What is the benefit of purchasing a miner for a purpose of getting bitcoins at a non-stop increasing difficulty & competition, when I could purchase the BTC, not worry about power, pools, etc. keep it in a secure software wallet, and hold? After all, the goal of the miner's is to get bitcoins right?
It's almost november 2014, the mining difficulty increases by ~13% every 2 weeks. There's many websites out there that'll help you calculate a POSSIBLE roi, power costs, difficulty increase, etc. so.. lets say I have $4,000 right?
Why would i purchase any form of hardware for this amount (including shipping, PSU's, etc)? I'll have to take care of the miner, deal with the sound, the space it'll take, etc. and only to HOPE to get an ROI. So, with the 4 grand i've purchased any x, y, or z rig to mine. I'll have to keep paying the electricity bill, cause someone has to right?
So.. lets say instead, I invest this $4,000 in purchasing BTC itself. That's about BTC11 at a price of $360 USD (about current)
now, i'll have BTC11, no need to pay for power, shipping, delays, keep a computer (or rasppi) running, no need for a ethernet hub, etc etc. And, lets say we do see a spike again in BTC that takes it to at least $500.
well I purchased BTC11 @ a price of $360, but now they're worth $500 each. $500 x BTC11 = $5,500. Minus what I had to pay for upfront, which was
BTC11 x $360 = $3960 for a total profit of about $1,500. Of course, you could wait for a bigger spike, maybe we'll hit $1,000 per BTC again. or more..
so tell me. What is the benefit of purchasing a miner for a purpose of getting bitcoins at a non-stop increasing difficulty & competition, when I could purchase the BTC, not worry about power, pools, etc. keep it in a secure software wallet, and hold? After all, the goal of the miner's is to get bitcoins right?
Someone always brings the ROI argument up.
We do it because we want to.