not really. i pay 0.064 and it was not worth it at ~$330 BTC
dpends on how optimistic you are regarding price and network difficulty growth slowing down over the next 12 months. At $0.13 USD/kwh my assumptions include >$1000 by 2016 and difficulty growth sticking around 4-5%/jump for the next while, at least until price growth. Theres also the fact that hardware often sells used for 2-3x its mining value near the end of its life. Right now, S3 units are still selling for $200 and the S1 goes for ~$50 on sites like kijiji, craigslist, ebay, despite the fact you can get new hardware that is similar hashrates but more efficient for similar $/GH.all i can say is good luck to you LOL. im not going to pay $700 a month in power bills hoping to make money some time down the road maybe (probably not)
s1 are not going for $50 on ebay. maybe in including shipping.
i sold 70+ of them for about $20-$25 on ebay a couple weeks ago.
and the s3s for $150-$180 including shipping
Ive had good luck selling at decent prices locally
IMo mining gives the ability to invest that $700 monthly, rather than entirely up-front. I view mining as a way of hedging. It provides me with the ability to produce BTC at a profit and easily move money into BTC without an exchange. If prices dwindle I can stop mining and cut my losses in comparison to having to sell off bitcoin holdings
I vividly remember how i looked at GPU mining in 2012 and mined a few dollars with no real profitability. walked away after a week or two. Came back in mid-2013 and was amazed to see that those BTC and LTC were worth 10x as much and that GPU mining was actually becoming profitable all over again. I think that will happen again if Bitcoin makes a large price movement, just like when everyone and thier mom was bringing S1 units and asicminer gear online last week because it was profitable for paycoin.