I am apologize if this is a repeat question, but I cannot find any answer to this one anywhere. I was curious I started bit mining yesterday just for something to do, and its going at .0079 BTC/ day. At this rate it will take roughly 130 days to make 1 BTC.
Now with say the Asic 50 Gh/s according to the calculators I will earn roughly 3.2 BTC/ day. My question being if I make the investment wil I actually see an improvement if everyone else does the same thing? Is it relative to others hardware?
Good question. The difficulty will go up as more hashing power comes online so it is relative. However, I would contend that it would still mine faster than what you have at the moment given what you have stated.
Here is a really good calculator I recommend that will help predict your profitability depending on a number of factors, such as network hash rate, difficulty, your hash rate, power usage, etc.http://www.bitcoinx.com/profit/
Written on 16 Apr 2013.