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Showing 7 of 7 results by mp3wizard
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Board Hardware
Re: BitcoinOrama Report on the KnCminer/OrSoC Open-day Mon 10/06/13 (Stockholm)
by
mp3wizard
on 30/06/2013, 17:20:28 UTC
ok assuming i order today, get my miner in late october, i should be able to make my ROI in under a year shouldn't I?
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Topic
Board Hardware
Re: BitcoinOrama Report on the KnCminer/OrSoC Open-day Mon 10/06/13 (Stockholm)
by
mp3wizard
on 30/06/2013, 16:24:56 UTC
guys, Have been thinking about ordering a Jupiter unit for the last week, if i'm positive i think there's still some room for me to jump on the bandwagon, if i'm pessimistic i think i might of missed the boat, considering i'd be one of the last to receive the unit and the difficulty rating.

What do you think? Am I too late??
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Topic
Board Beginners & Help
Re: Is it worth starting mining in October/November 2013?
by
mp3wizard
on 30/06/2013, 11:36:04 UTC
do you not think the prices will drop though once all this new miners come online over next 6-9 months?
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Topic
Board Beginners & Help
Re: Is it worth starting mining in October/November 2013?
by
mp3wizard
on 30/06/2013, 11:30:09 UTC
no no, no troll here, a few weeks ago i didn't know what bitcoin even was so if anything, call me a noob trying to jump on the bandwagon late.
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Topic
Board Beginners & Help
Re: Is it worth starting mining in October/November 2013?
by
mp3wizard
on 30/06/2013, 11:24:35 UTC
ghs obviously, just waking up... at least it wasn't mhz lol
Post
Topic
Board Beginners & Help
Re: Is it worth starting mining in October/November 2013?
by
mp3wizard
on 30/06/2013, 11:17:54 UTC
Do some more reading first. If you come here and talk about mining at 400 ghz, you're not too likely to be taken seriously.
Before spending that amount of money be sure to be ready for anything and be sure you're knowing what you're spending it on.

Don't invest what you can't afford to lose.

I've done a ton of reading, i think 400 ghz is an accessible entry point for a noob, if i was talking 1,500 ghz and spending $100k in the next few months then that would certainly warrant some skepticism.

It's definitely a risk, maybe litecoin is the way to go.
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Topic
Board Beginners & Help
Topic OP
Is it worth starting mining in October/November 2013?
by
mp3wizard
on 30/06/2013, 10:14:19 UTC
I spent an hour yesterday looking everywhere for the reply button, at the end I just gave up, I felt stupid, I felt like I was missing something, should of read the guidelines!

So I am considering ordering a 400 ghz miner, which I believe would reach me in October/November at the earliest... With all the BFL products coming online and the massive increase in difficulty, would it still be a profitable acquisition?

I'd hope to at least cover all costs $7,000 for miner and electricity etc and make a few thousand over a space of a year, is this a realistic expectation? or is it only really the first users using the 1,500 ghz miners that are going to make some real money?

I appreciate that everyone wants less miners to make more $ for themselves but I'd appreciate honest feedback please, I have tried the bitcoinx profit calculator but i don't quite understand how I gauge an accurate prediction from it.

If I wanted to try and make some money through bitcoin, would you consider it safer to just purchase bitcoins outright and pray that they rise in value? Personally I think the price will fall over the next 6 months so it's probably not the best time to do that either...

Thanks in advance for any advice and thanks to everyone for sharing their knowledge on this forum, i have found it to be very informative.