Bitcoin Forum

Hi guys. I am new to the bitcoin platform. I want to mine bitcoin. Please suggest me some best bitcoin mining hardware. Thanks in advance. :)

Hello. I would not say that there is currently a single piece of mining hardware that you could call the best. Newer generations of miners keep getting released. A good example of hardware is Antminer S7.  (https://bitcointalk.org/index.php?topic=1165628.0) I would really suggest that you look into the Hardware section for mining (https://bitcointalk.org/index.php?board=76.0). You will find a lot of useful information there.

At this moment it seems that S5 is the best. You can try to find some used S5s in Marketplace (https://bitcointalk.org/index.php?board=75.0) thread. S5+ and S7 are too expensive to buy right now.

Nancy from LKETC wrote to me that they will start sales of their new "16 nm" ASIC-based hardware in December. This should lead to lowering the S5+ and S7 price. That will be the moment to buy it (newest Antminers and LKETC new miner), IMHO.

is it worth to buy this?:

Bitmain AntMiner U3 USB Bitcoin Miner 63 GH/s

Hi Friend, Bitcoin mining is very very difficult now a days due to the competition...If you still want to mine then go for ASIC miners...they are best at the moment :)

Since you say you are new, if you are thinking of profits, probably it takes ages to ROI because of maintenance costs and difficulty levels. If you are just trying it for fun, lets try mining with your computers GPU if you have one, or buy a USB miner for testing.

Why not to deploy your own mini-farm, especially if you have an access to free (better) or (simple) cheap electricity? ROI will be about 1 year, may be 6-7 monts in case of free electricity. Try to use some bitcoin mining calculators.




Here is again the reason to buy S5. It will give you a little amount of BTCs (about 0.02/day), and I boubt GPU or USB miner will.

imho, no.  Unless you can get a single one for dirt cheap and it behaves itself. Read last bunch of pages from the main thread on that miner: https://bitcointalk.org/index.php?topic=827356

Thanks
I will try to find what i search among all the many pages.

S5 give only 0,01 BTC/day

I would say that "best" is just a relative term to the enviroment in which the miners will be running. By that I mean, if you have cheap or free electricity then you can get away with running less efficient miners at a lower acquisition cost which would generate ROI in a timely manner, looking at a small opteration.

On the other hand, some simple calculations at current BTC market rate and difficulty will put the ROI timeframe for the S7 between 9 to 11 months factoring in electricity cost in my area. (not factoring large difficulty increases or price spikes/dips)

All that aside, right now would not be a bad time to pick up a couple used/second hand S5 or SP20E miners for a couple hundred bucks each.

Decide for yourself if a piece of equipment is worth buying:  https://bitcoinwisdom.com/bitcoin/calculator and plug in all required information on left.

Use your electricity rate, my estimate on difficulty will be between 4-7% increase per adjustment over the next 6 months, pool fee (if any), and then what your purchase price on equipment is (then plug in the miner specs). Make sure to include any delay in getting miner operational in your model, and always use current BTC value (not inflated future values) for determining risk.

TradeBlock has a nice mining calculator tool as well.

https://tradeblock.com/bitcoin/mining

If I remember correctly, hashlet was promoted as the best bitcoin hardware. Unfortunately, they are not around anymore ;)

https://www.cryptocoinsnews.com/wp-content/uploads/2014/08/7-hashlet-features.png

do NOT fall for cloud mining scams as seen above, in any shape or form.  If a cloud mining operation looks even moderately profitable, it's VERY likely a scam/ponzi.  If it's meager at best (as is BitmainTech's Hashnest) it may be legitimate.  It's the law of free markets, if cloud mining were as profitable as many would lead you to believe, why wouldn't the operator just mine for themselves?  ???

How funny !!! Then why ASIC manufacturers sell ASIC ? They were supposed to manufacture and mine themselves. ::)

dood if you r from india then i am sorry ,it being a hard time on u then ...as there is upto 30 % price increament until the product is reached to u because of custom charges .. still u can contact BITMAIN and clearify it.

@OP. Could you tell me what your electricity cost is? If you give me more information i can definitively tell you what to buy must most importantly what NOT to buy.

True. Mining with own hardware is probably not a good option in India. Not only Hardware cost is high, but also temperature is a problem here. The only advantage is, there are some places, where you can get very cheap electricity.

https://bitmaintech.com/productDetail.htm?pid=00020140630025130637RV8OhOwt06BC (https://bitmaintech.com/productDetail.htm?pid=00020140630025130637RV8OhOwt06BC)

AntMiner S3 ! Work as hell years. Good  engineering piece. Good cooling, noise, hash..
S7 katastrofe! As S5 ..

yeah man and even though u get cheap electricity but as soon as people know that u r doing something that is profitable poof..
there will be 100 officers standing at ur house to take a 100 rupee bribe ..loll

Are you talking about the foundries themselves where chips are produced? They don't typically manufacture end-use products, they are contracted by mining hardware companies with their own specs for the ASICs. Which brings up a good point, how many hardware manufacturers do in fact sell chips to the public? Call KNC or Bitfury up and see what they say.  Other chips like Bitmain's, it's like pulling teeth to get them, and then if you do you're paying a heavy premium, so they are making their profits by selling wafers with their specs without any of the risk from producing.

Tell me, if Bitmain won't offer cloud mining with extremely favourable returns, no 5% referral bonuses, etc, what makes you think any other entity in this world can make a go of it without being a scam or a ponzi?  Maybe that's why nearly every other cloud mining service has collapsed.   ::)

The only company selling miners to the General Public is BITMAIN.

I will not say what I think regarding BITMAIN mining with the equipment before it leaves, but there are plenty of threads and comments where you can make an educated opinion on the consensus.

Look at every other mining equipment manufacturer. No one has a product for the end user on the market or states they will be coming to the market, not one.

They are all mining for themselves. That is exactly right / correct.

Now, if we were talking about it being wrong or right...

Seriously, unless you are simply trolling, check it, the largest miners mine for themselves. I hope we see a season of competition. The mining industry is at its worst in the summer because (according to Gavin heh) they are outside. To a point I see it because of the heat factor. If we do get a couple of different larger scale S7ish type miner models to choose from and the prices are closer to last year relative to hashrate, I bet there would be some people taking a bigger gamble.

I am not going to borrow money or make charges to one of my credit card for miners.
If I was in a situation with a large building and great power rates then I would reconsider.
At this time, I have other things which must be a priority.

It would be nice to have a 200,000 sq ft warehouse full of miners you could go play with and maintain everyday. Hard work to do it right, no doubt. I would much rather have only my monthly payments to make though. If I borrowed 200,000 dollars and had to make that payment plus everything else I would not sleep well this close to the $150.00 - $180.00 mark for the price of BTC.

If you did it right though, AND you did it at the right time, AND were very lucky and smart you could still do very well and pay back that loan. I'm hope to see photos!  I Gotta get back to work buying birthday presents.

PS

BITMAIN warranty answered me! Yes...

It is still more than zero.  ;)

A bit more, since i easily run mine at 1.3THs. But whats wrong with that? Its about 80$ per months. 4 months ROI at 300$~ Whats wrong with that? 2 Of them is 160$ per month. 4 of them is 320$ per month. Etc.

 Both statements are FALSE.

 Lketc announced a machine a couple MONTHS ago, ETA appears to be December, and they've always sold to the public.

 In theory, SFARDS machines could be bought by the public, but they appear to be having major issues with the SF100 at this time and dunno when they'll actually start selling the next batch - there may be a few remaining first batch SF100 in the hands of dealers at insanely high pricing. SFARDS (as Gridseed) tended to prefer selling via dealers, and generally only did bulk deals when buying from them direct.

 Innosilicon is CURRENTLY selling a Scrypt machine to the public, in conjunction with the remains of Zeus (reference the "farm boy" thread in this forum, appears intended to clean out their last stock of A2 chips), I see no reason they won't sell whatever miner(s) they come up with using their announced A3 (SHA256) and A4 (Scrypt) chips to the public when they start production of such machines, though they seem to prefer "dealer" sales.

 Avalon is CURRENTLY selling a (badly overpriced and bulk sales only) mini machine based on their Avalon 4 series stuff. No clue about their future plans though.



Hashlet never existed, except as a scam promotion for a ripoff cloud mining scheme.

 Many "cloud mining" schemes are legit - but they are often priced in such a way that the only profit made is by the cloud mining operation.



 NO stick miner will RoI - even Sidehack's neat little device costs too much to ever ROI, though it comes closer than any other stick you can currently get.
 Most stick miners are flat out "lose money" at this point - not "won't ROI" but "cost more to run than they can mine" level.

 S5 can RoI if you can get them cheap enough, or your electric is VERY cheap, but it's VERY iffy on RoI at this point under any scenario where your electric isn't free. S7 is actually a hair worse due to the MUCH higher cost, despite the much better efficiency - and it's starting to look like even the S7 will become unprofitable once halfing occurs, unless Bitcoin price kicks WAY up before that point or diff increases flatten out a LOT in the next couple months.

 Hopefully upcomming competition will kick off another "price war" by the end of the year, when there is still enough time for a miner price drop to matter to the possibility of RoI....

I have ordered a:

Bitmain AntMiner U2: 2Gh/s USB ASIC Bitcoin miner

How many years do you believe that I will have ROI?

You'll always have 'ROI', but you most likely will never profit.

Here's an optimistic calculation: https://coinplorer.com/Hardware/Simulate/55fc2192226bf42afc1319c7?key=6c5bdd72-b122-4462-8caa-3949bb152511
By optimistic I mean that you've got free electricity (you probably don't), mine at a pool that has no fee (nah), the difficulty remains constant (it won't), the reward halving in 2016 doesn't happen (it will, but try telling mining calculators that), etc. etc.

It also assumes you paid about $15 in BTC for it - in which case, you'll have made that back in BTC sometime in 2024.

Of course if you got it for free, then the revenue need only be higher than your electricity cost - but in general for these small miners: FUN > ROI

thanks...
I have paid $50 (or so...it was in euro)
I pay electricity...so i will have ROI certainly  in 2074 (lol)

There is no one size fit's all in so much on bitcoin.  I think it varies greatly on what could be considered best hardware.  With high to normal electricity only option is really newest gear out there to stand a chance.   S5-S7ish gear currently.

If you have cheap electricity some still make a killing off S3's.  They are lucky but they are better off with used miners as they can ROI quicker in some cases since they pay much less.

Some are so high they will never ROI.  Also think of import/vat some that kills any deal.   So really need to know more about OP's situation.