-1

i have read some questions that ask "how much is the hardware etc to mine, and how long for it to pay for itself" which i think is a reasonable question, many answers explain how much it costs to buy a mining computer etc! but i cant see where anyone says "mine cost £xxxx and it generates £yyyyyyyy in real pounds cash! what ishard about the question? so lets say i buy equipment for £1k what return can i expect versus running costs?

  • 3
    There are quite a few calculators out there. Have you tried those? If you look up hardware hash rate, such calculator will provide you with profit estimate. – oleksii Jan 10 '14 at 16:24
  • 1
    Dificulty is changing every 2 weeks and the bitcoin price is changing every day, so exact quotes of incomes are usually outdated in a couple of days, that's the reason of so many calculators. – frisco Jan 10 '14 at 17:36
3

You can't sensibly evaluate the costs and benefits of mining that way. For example, consider this horrible (for you) idea:

1) Buy Bitcoins.
2) Give half those Bitcoins to me.
3) Wait two years.
4) Sell those Bitcoins.

Is that a good idea for you to do or a bad idea? Well, if you look at how that idea would have worked over the past two years, computing your costs in pounds and your return in pounds, that seems like a great idea. But it's obviously a really bad idea.

So don't ever evaluate the profitability of Bitcoin investments in fiat currencies. It makes even really bad ideas look good.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.