Quote from: hurricandave on October 28, 2014, 08:54:40 PM

Quote from: TheOutride on October 28, 2014, 08:26:51 PM

Quote from: Ntrain2k on October 28, 2014, 07:46:33 PM

Quote from: TheOutride on October 28, 2014, 07:12:47 PM

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? Wink

Someone always brings the ROI argument up.

We do it because we want to.

Of course, we're the realists. We're in it for the money. The thing is, bitcoin is still, to this day, a "prototype" and, don't get me wrong i'm not saying it does not have a chance but, it is highly unlikely it will be implemented. As of now, some countries have rules against, regulating, or simply ignore bitcoin.
There reason there are so many altcoins is because people understand BTC itself isn't perfect. Many view the altcoins as experiments to be implemented into one big currency, maybe bitcoin, but non the less. The grand mission is to spread bitcoin, and allow it to be used worldwide. Check the wiki for bitcoin, even that states a list of numerous problems that bicoin has or could easily arise. Now, wit the downfall of bitcoin.. Well, who know's where it'll go.
Anyway, the reason people "mine" isn't to "help the network" it's to make money. Simple. If you're one of those people that are content to spend money and just help, great, but those are still the few. By a big shot. So, the question remains. Is it profitable to mine? or is it better to buy and hold btc?

I am sorry but these types of comments don't belong in this thread. this kind of post should be placed in the "Mining Speculation or Economy" threads! You make absolutely ZERO reference to Rockminer equipment and your arguments are all based on presumptions. Use the forum correctly, please.

Exactly.