Is Bitcoin mining hardware worth buying?

CharlesWorthing 2017-08-01 06:23:35 UTC #1

Jagdpanzer 2017-08-01 11:24:40 UTC #2

Unless you've got a free source of electricity, I'm going to go with no.

ErnKemper 2017-08-01 23:59:14 UTC #3

There are calculators.
You need to look at the payback period.

The other issue is that Bitcoin Hardware was, I think, going obsolete pretty fast.

I might try for Monero. The payback period is worse but you should be able to use the hardware at least 2-4 times as long as they are still mining at H/s and the a $350 GPU can get up to 30 Mh/s stock.

You can get 3 GPUs and the rest of the hardware for less than $1500. Once you mine another $350 towards another card, you can make ~ $1400/year minus electricity which won't be as much to start.

WhiteWulf 2017-08-03 00:24:07 UTC #4

At this point you have to assume that the CIA/NSA/ZOG are actively mining to gain control over as much crypto as possible (if they aren't behind the actual ICO's themselves).

As others have said check out the calculators, but I think your time and resources could be better applied elsewhere.

FRB 2017-08-03 03:03:38 UTC #5

It was worth it a few years ago. I could have gotten in on it early on, but it was too risky and wasn't very liquid.

Let's be honest: a lot of cryptocurrencies are ponzi schemes. Only the people who get in early are the winners.

SiriusB 2017-08-04 02:23:12 UTC #6

I only mine altcoins as a hobby. Right now monero and decred/ETH in dual mode. I go in for the long haul. Meaning I keep all I mine and look at the coin prices in ~2 years. Kind of a lottery on a smaler scale.

Monero is great for CPU mining. I have lot of old servers from work now they can be of some use again.
I like decred because it has many good features like sane governance and a hybrid proof of work and proof of stake approach.

CharlesWorthing 2017-08-04 07:07:00 UTC #7

What mines Monero and ETH best? Are they succeptable to ASIC mining?