Bitcoin rig

[WyvernAbstracts]

I've been researching bitcoin for a few days now, and I was pretty intrigued by all of this. So I went out in-search of some machines on a few local website and I came across an asic machine that produces 200ghs, and is listed for $3900 NZD. The buyer also listed that the power bill will come out approx $2.5 a day. Now if I'm not wrong wouldn't this system generate around $12k in a year, or am I getting something wrong? 

[SAV1OUR]

I've been researching bitcoin for a few days now, and I was pretty intrigued by all of this. So I went out in-search of some machines on a few local website and I came across an asic machine that produces 200ghs, and is listed for $3900 NZD. The buyer also listed that the power bill will come out approx $2.5 a day. Now if I'm not wrong wouldn't this system generate around $12k in a year, or am I getting something wrong? 

thats if you find anyone willing to take the bitcoin, banks refuse to take them and so do a large portion of stores in my opinion mining coin isnt worth it 

[Mentalguy]

I've been researching bitcoin for a few days now, and I was pretty intrigued by all of this. So I went out in-search of some machines on a few local website and I came across an asic machine that produces 200ghs, and is listed for $3900 NZD. The buyer also listed that the power bill will come out approx $2.5 a day. Now if I'm not wrong wouldn't this system generate around $12k in a year, or am I getting something wrong? 

put the money into a lightcoin rig with 280x's. you can mine any scrypt coin and if it goes south you can still sell it as gaming hardware.

 

thats if you find anyone willing to take the bitcoin, banks refuse to take them and so do a large portion of stores in my opinion mining coin isnt worth it 

coinbase.com can send it to your bank account.

[SAV1OUR]

put the money into a lightcoin rig with 280x's. you can mine any scrypt coin and if it goes south you can still sell it as gaming hardware.

 

coinbase.com can send it to your bank account.

but do you get the full $1000 that its valued at? sounds a bit sketchy 

[WyvernAbstracts]

but do you get the full $1000 that its valued at? sounds a bit sketchy 

It really easy to sell bitcoin, so I'm not worried about not being able to sell it. 

[RankUpGamers]

but do you get the full $1000 that its valued at? sounds a bit sketchy 

you get market value -$0.15 and - 0.3%

[WyvernAbstracts]

put the money into a lightcoin rig with 280x's. you can mine any scrypt coin and if it goes south you can still sell it as gaming hardware.

 

coinbase.com can send it to your bank account.

mhmm truee. get 8 of dem 280x set up Would also work as an extreme gaming rid

[Mentalguy]

but do you get the full $1000 that its valued at? sounds a bit sketchy 

for the most part, they do charge a small fee, but then, so does everywhere else. its 1% of your trade.

mhmm truee. get 8 of dem 280x set up Would also work as an extreme gaming rid

lol

[RuecanOnRails]

I've been researching bitcoin for a few days now, and I was pretty intrigued by all of this. So I went out in-search of some machines on a few local website and I came across an asic machine that produces 200ghs, and is listed for $3900 NZD. The buyer also listed that the power bill will come out approx $2.5 a day. Now if I'm not wrong wouldn't this system generate around $12k in a year, or am I getting something wrong? 

 

You're not taking into account the difficulty which has been steadily doubling every month since last July. The long delay between when you order, the many other orders which people are already waiting for, and time to get the rig set up will likely remove any chance at an ROI, if not push it very far away.

 

Consider purchasing coins directly and holding them in addition/instead of buying hardware. 

 

Another thing to watch for, are local people re-selling miners. The only reason for them to sell; Is that they did the math and know it won't pay for itself. ASIC manufactures also sell miners at a loss, they keep the estimated profit margins small so their loss is not too big. The reason I say they sell at a loss, is due to the nearly seamless Plug-n-play of current ASIC's. There is no additional labour required, if they are selling you a plug-n-play unit which aims to bring a profit to the customer, the company is loosing potential profits if they had mined with their own hardware instead of selling.

 

 

That's also an absurdly high $ per g/hash. Nearly $20 per G/hash. Far from the current $3 - $6 per G/hash.

[WyvernAbstracts]

You're not taking into account the difficulty which has been steadily doubling every month since last July. The long delay between when you order, the many other orders which people are already waiting for, and time to get the rig set up will likely remove any chance at an ROI, if not push it very far away.

 

Consider purchasing coins directly and holding them in addition/instead of buying hardware. 

 

Another thing to watch for, are local people re-selling miners. The only reason for them to sell; Is that they did the math and know it won't pay for itself. ASIC manufactures also sell miners at a loss, they keep the estimated profit margins small so their loss is not too big. The reason I say they sell at a loss, is due to the nearly seamless Plug-n-play of current ASIC's. There is no additional labour required, if they are selling you a plug-n-play unit which aims to bring a profit to the customer, the company is loosing potential profits if they had mined with their own hardware instead of selling.

 

 

That's also an absurdly high $ per g/hash. Nearly $20 per G/hash. Far from the current $3 - $6 per G/hash.

Okay, I'm thinking of just purchasing some coins atm or get a litecoin mining rig.