Bitcoin Forum

Dear Everyone

I need advice on what kind of setup  i need to generate 2 bitcoins per month?

Please advise both hardware based and cloud based solutions

Thank you.

Pretty easy:
Chose your hardware here: https://en.bitcoin.it/wiki/Mining_hardware_comparison
Fill in the hardware specs, price and electricity price here: http://www.coinwarz.com/calculators/bitcoin-mining-calculator
you can either buy new hardware (antminer S7 or avalon6 are the most performant ASIC's at this moment, untill a new generation of ASIC chips hits the market), or buy second hand hardware on this forum (or any other place)... Be carefull when buying, use an escrow if possible!

Now, be carefull, in a short time, the block reward will halve to 12.5, so you'll need to find enough hardware to mine 4 bitcoins today in order to mine 2 bitcoins after the halving... Also, leave some room for diff change!!!

I'd stay far away from cloud mining... Most of them are Ponzi/SCAM's...

I would avoid all cloud based solutions simply because it's pretty much gambling on trusting somebody else to keep a long term contract.

At this point in time this close to halving I would just buy the coins every month until the difficulty adjusts or new miners come out.

Hashnest is only one I would send them to at this point.  They will not cut/run.   But I do like owning gear so buying and having hosted might be a possible option.  Also I would remind make sure to include costs/fees when calculating ROI.

You will need a certain amount of startup cash to even attempt this though. 

You will be needing 5 x Antminer S7 (with current difficulty and BTCitcoin value of $463). The exact TH/s needed is 23.15 TH/s and with those, it gives you 23.65 TH/s (a little more than required but with difficulty changes it comes handy). Currently a single Antminer S7 goes for $533 (excluding shipping), but if you look closely in the computer hardware's section, you could find some giving free $100 discount coupons for Antminer S7 (current batch). Lastly they all need PSU's as well so have that in mind too.

Regarding cloud based minings, it would be better if you wouldn't use any one of them (even though there's one that until now has been clean and trustworthy). It would be better you invest on something you have full control over them.

Also keep in mind cost such as electricity and cooling, etc.  It most likely will take more to net a 2 BTC profit.  If he just want's 2 BTC and is not including costs then all you said would be correct.

But I would guess he want's a operation that nets 2 profit.  So again really need to know electricity price and it would take more S7's.  Add cooling in there and wiring electrical (assuming he has enough power) it is going to have some decent costs associated with it.

I checked out the page and computed for myself. I thought I'd get any profit from mining. But with the current electricity price here plus all the other necessities e.g. cooling, etc, it seems that I'd only get myself in the reds.

Only hardware you need - and obviously you dont have - is a brain

It is one post account ... i tried to give benefit of doubt and help.  But I think it's likely this is dead thread:
Date Registered:    May 09, 2016, 08:21:40 AM
Last Active:    May 09, 2016, 04:57:44 PM

Some questions I wonder if trolls put up knowing it will get responses and they had no need of help.

A lot of people have the same problem. Just count yourself lucky that you did the effort to calculate your loss/profit before investing in hardware :)



It's either trolls, or maybe members that are embarrassed to use their full-senior-hero account to ask newbie questions, so they generate a throwaway newbie account to ask for an answer, and use their higher level account to read the answers...

I generate some bitcoins per month. But I do not mine bitcoin directly. I use graphics cards to mine the altcoin and exchange into bitcoin.

Even if you go to altcoins you are talking a sizeable investment in GPU's to get 2 BTC per month (especially if you mean after costs).  And really only altcoin people are doing much is ether.  It's attracted a lot of attention lately.

But with this part of forum it should be direct BTC mining, not altcoins. So were talking more about BTC asics and mining with them.