In for bitcoin mining? How much can you practically earn?

Recently, so much hype and debate have been dominating the news. Everybody seems to be fascinated with the new form of currency. But before all of the hypes enter your mind and start contemplating creating your personal bitcoin mine, do you feel you’ve the required knowledge? Have you figured out what the return of investment will be like?

Certainly, anyone who’s developed curiosity about establishing their bitcoin mine are drawn by the massive payout.

Given all of the media headlines that place this new electronic currency into the spotlight, such irrational expecation is only natural. I’m sure you’d have learned about a lucky Norwegian chap who invested mere US$26.60 only for that sum to magically change into US$886,000 in 2013. I do believe you would not need me telling you just how much ROI that will equate to. It is simple maths!

Too good too be true encounters like this are what brings the fools into this new type of currency. Everyone wish they were this fortunate chap. That applies to me too. That’s why most people are thinking about setting up their bitcoin harvesters in the hope of earning enormous fortune out of it. Should you ask me, it would be have been a good idea 5-years back but not today.

Have you thought of simply how much capital would you need or be prepared to fork out to set up such farm? A recently available blog article shows that even when you’ve 600 quad-core servers working with 2.8GHz clock for 12 hours per day, you’d end up with pathetic $1,300 in a year. And don’t forget that bitcoin mining can only get harder after every successful mine.

Bitcoin-12

Of course many claim this study has been too unrealistic. The number is based on the assumption that no software optimization is conducted on the farming architecture. I would not consider these arguments as invalid. But to be honest, these optimization efforts and all the hours used on it will have to be considered as part of the overall investment cost. When everything is taken in, I believe the picture would not have been much brighter.

If several years back you’re thinking of the stuffs that you want to do today, I salute you and you’re a genius. But if only now then you’re thinking to make the jump, in my opinion you don’t have good idea on what you’re saying.

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