How much money can I get by mining?

JustNeedSomeHelp

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Oct 22, 2013
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Hello guys. I'am gonna buy 2x R9 290 graphic cards. I'am not paying the electricity, so I don't have to worry about that. So how much do you guys think I will earn on a month?
 

JustNeedSomeHelp

Honorable
Oct 22, 2013
347
0
10,790




Dude, what are you talking about? I'am not gonna buy R9 290X, but R9 290 non X. And how is it "throwing money out of the windows"
It got alot better performance per dollar then gtx 780, and performs as good as it. It costs 150 dollars less, and if I'am gonna buy 2 of them I save 300 dollars.
 
Okay first off did you read this article : http://www.tomshardware.com/reviews/bitcoin-mining-make-money,3514-10.html ?

Avalon rigs and the ever-expanding ASICminer mining farm, and it’s easy to see that the best estimate for the global hash rate in late fall of 2013 is about 1000 TH/s. You're looking at ten times the current hash rate, and thus ten times the current mining difficulty. If an Avalon rig currently nets, say, $8000 per month, the revenue will soon be a mere $800 and decline from there....Thus, it is a fool’s errand to bid $20,000 for a pre-order of a 65 GH/s Avalon box on eBay. By the time it gets delivered, you will not be able to earn your investment back.


Basically if you started at the beginning of the article, you will see the 'buy in window' to be a miner was a year - two years ago to get in while the cost of hardware (say $600) plus ELECTRICITY (a very high cost it seems, including all the A/C to pump and keep the entire room from catching on fire) would still allow to make money as the bitcoin rose, but it 'crashed' (like everything else) and was worth 1/4 the speculative value. So coming in now you need serious investment or divide the profits (farming) in a distributive computing model to achieve the level of computation. Especially as the chart show in the past two months the 'computational effort' TRIPLED in difficulty in order to 'mint' new bitcoins (mining). So if your hardware made you $100 a month in Aug, now your making $30 or less per MONTH, and your electricity costs are still coming in each month as well.