Hey guys I was thinking about buying a hd 7950 from sapphire on newegg or a bitcoin mining rig, the 274 dollar version. But the thing is that I really don't feel like waiting that long for the rig to arrival but then again it would be a very good investement.
You should weigh your options. http://www.bitcoinx.com/profit/
Plug in all the data into the calculator and decide if you want to or not (or if it's even worth your time). Litecoin could be the way of the future. Its all due to change at anymoment. The hashrate on the 7950 isn't very high; so when it comes to minning you wont get rich over night.
and then when all these companys start shipping out asics and mining rigs, after a few weeks max you'll be right back were you were
so, no matter what you choose it's pretty much pointless
besides, unless you're living in an appartment where uttilitys are covered, you'll be lucky to mine enough to pay your electric bill
I agree with Overlordnick, don't do it. If you must... weigh your options.
The $274 ASIC, a good investment? I disagree. I'd just get the 7950, for guaranteed fun. You shouldn't put all your eggs in one basket, with these get-rich-quick schemes.
There are people purchasing $30,000 ASICs, and they are going to push Bitcoins far far far out of your reach. Not only that, but the waiting time for these ASICs equates to months. The whole Bitcoin operation could be shut down in that time. We've already seen governments trying to mess around with Bitcoins, in previous months. It is a de-centralised currency, and that it guaranteed to rattle a few cages. And the value of Bitcoins can simply decrease at any time, it's just not a smart investment, not at all.
But I just wanna get the $274 dollar one since it's not that expensive and then I could earn that amount of money back within the first month.
I had to make this exact same decision.
I'm going to assume that you mean the Butterfly labs ASIC miner. If you do. Don't. I had $300 to drop on one or the other. Then I actually did research.
Turns ou that hundreds to thousands of people have preordered this. and only about five or six people have actually gotten one, so far.
As sfar as anyone knows, only a handful have even been made, and if you ordered one, it could be 6 months to a year before you ever see it. The people who first preordered it have been waiting over a year and a half for it.
By the time they come out, a couple of things could happen.
Everyone else will have bought more expensive ASIC miners, Driving the diffficulty of Bitcoins higher, so your tiny 5Gh/s rig will be useless.
Bitcoin could crumble beneath itself, the market could crash, or it could become just worthless (Its happened a couple of times before, when bitcoins were worth a couple of cents each) If that happend again, no one will mine for them, because it will be too much work for the penny you would get from it.
Or, the government will shut it down, because it could be seen as an illegal form of "Unofficial" Currency.
I went with the 7950, and have been thrilled. Its a great card, comes with free games, and overclocks like a dream.
If i had the coice again, I would do the same thing.
btw If I do buy the 7950 from Sapphire. I would like to sell the games since I don't really play them. I would really like to sell Far Cry 3 Blood Dragon, Tomb Raider, and maybe Bioshock Infinite. But heres the thing in order for me to get that card my parents want me to sell my old 6850 which I had for about half a year now to someone for around $120 dollars with all the packaging and stuff with only a crossfire bridge missing for some reason. Please could someone help me with my dilema. And Thank you.
Btw Is this a good hard drive to use as a secondary hard drive for to store frap recordings on and record fraps with? Because for some strange reason when I begin to record minecraft with fraps on my 500GB WD caviar Blue HD It begins to stutter for some odd reason. What should I do?