Ok
so what maths problems are being solved, why and for who?
Problems are being created and solved by a blockchain environment. No added value for now.
Nothing other than running the payment network, except with a few experimental coins. Etherium can do some simple productive work, and is a step in the right direction.
I just can't see at this point how Ethereum could move from currency mining to something useful. Who will pay for this? What will stop participants from moving to a different activity that has better returns?
Who will organize the mining? I mean: if this becomes a distributed computing platform for rent and a company will want to use it, who will they contact? Who will act as other side of this agreement? Will this be Ethereum Foundation?
Blockchain will be important as a payment service (largest banks in the world are already developing a finance-friendly solution), but as a distributed computing platform? I doubt that.
And from what I've seen lately, it seems the distributed computing idea is slowing down a bit. As such, I think it's a bit to late for Ethereum (and similar projects) to get serious momentum.
Hey guys I've been debating on getting into this. Technically investing is no issue, but I just don't know what all needs to be setup with what cards.
Would my current card break even? PowerColor PCS+ AX7870 LE 2GB OC 1100MHz, 1600MHz
Before it dies? Possibly yes, but with tiny profit. Not worth the fuss.
Also wouldn't it be easier to just buy something like a BITMAIN AntMiner S9? Sadly I was on their website not to long ago and they had them in stock, thats what got me interested as I see this.
It would, but what you have to consider is that you're not the only person who thought about this. There's a limited supply of BTC to be mined, so the more people mine, the smaller is the profit.
Essentially, you're a bit to late into the bitcoin race, which can be seen in the estimated ROI - 2-3x longer than for GPUs mining other currencies.
Plus, it will be really difficult to use otherwise or sell your miner when it's too slow to make profit.