Bitcoin mining

xcivicdx said:

O also, people were paying huge money when bitcoin was over 1k, when it dropped down people were upset that they paid for such expensive equipment, some of it in the upwards of 10k and more depending on what your were buying and how many units. Its important to run any type of hardware purchases through the bitcoin calculator. I recently stopped mining litecoin(scypt) with my gpu rigs because it just didnt add up anymore.

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irdeto said:

Thanks for your reply man.
I actually decided to do the sums and you are right, even with good hardware, the break-even point will never be reached.
I was basing this on a 1000 GH/S ASIC machine. Investment was only about $2,600 or something like that. But once i actually used a calculator online to predict how much i would make now and how it is likely to get more difficult, it was very evident that i would never make the money back and the equipment would be out of date the moment i buy it anyway.

It's funny you mention Litecoin - that was the next thing i was looking into. Will definitely do a bit more research on that one!

I will look into what you have said above.
Out of interest what is power consumption like? There is a myth about how much power these things chew but at the theoretical 900MH/S Im guessing we are talking a fair bit of power consumed?

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