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Title: Is building your own miner worth it? Post by: Oliwill on July 10, 2013, 08:24:54 PM I realize that this question can have a variety of answers... however, lets say I have $10,000 to spend, what kind of advice could you share?
I am debating whether or not it is worth the time/money to build or purchase a miner as opposed to just continuing to purchase Bitcoin's. Really just curious if: 1) There are mining companies you would recommend and why? 2) What would you build and what would be the potential ROI? 3) Or if you would just continue to purchase Bitcoin's without putting forth the effort on hardware? Thanks! Title: Re: Is building your own miner worth it? Post by: dwdoc on July 10, 2013, 08:27:10 PM Wait for Bitcoin to drop back to 70. Then buy and hold. If you purchase now, by the time you receive chips or miners it will be too late to get a good ROI.
Title: Re: Is building your own miner worth it? Post by: g83 on July 10, 2013, 08:30:30 PM Wait for Bitcoin to drop back to 70. Then buy and hold. If you purchase now, by the time you receive chips or miners it will be too late to get a good ROI. Can't agree - even if you buy an expensive miner today it could get a good ROI if Bitcoin succeeds and reaches prices we all dream of by now... Title: Re: Is building your own miner worth it? Post by: Raize on July 10, 2013, 11:21:05 PM I'd say it's too risky to buy now. Unfortunately, it's also tough to recommend purchasing coin with the price where it is, but it might be more rational for the price to be at $80 with an expected difficulty of 400 million by the end of the year than it was for it to be $250 while the difficulty was still under 20 million.
I guess what I'm saying is that it's really hard for me to recommend purchasing Bitcoin OR buying a miner at the present time. Title: Re: Is building your own miner worth it? Post by: ElitePork on July 11, 2013, 03:56:32 AM i will
1) use 2.5k to buy coins. not just bitcoins but LTC, BTC, PPC. Keep it and wait for it to grow 10% and sell off 2) split the remaining 7.5k to 3 portion and invest to different ASIC miners. There's KnC, USB blades, BFL, and much more. This is what I will do if i got 10k on hand lol Title: Re: Is building your own miner worth it? Post by: Cluster2k on July 11, 2013, 11:53:16 AM No, it's definately not worth buying GPUs now to mine. Consider that my two Jalapenos are processing 15Gh/s while consuming 83 watts (including laptop). With current difficulty my mining break even point is with the BTC price sitting on $2. More are joining the ASIC ranks every month. Mining with GPUs now is like mining with CPUs in 2011.
Title: Re: Is building your own miner worth it? Post by: bassclef on July 11, 2013, 03:38:48 PM If you got in on an early chip buy (late April/early May) and feel comfortable with SMT soldering, then yes.
Title: Re: Is building your own miner worth it? Post by: Oliwill on July 12, 2013, 07:32:12 PM Great feedback... right now I am extremely anxious to purchase a rig as I have really no idea how to build my own. I understand that there is a waiting list, but I will need to take that into account while trying to figure out my ROI.
I will continue to purchase coins as well, as they just seem to be dropping a bit. I understand the vulnerability of the industry, but that is also what makes it so exciting. So after a ton of research... I have really narrowed it down to BFL, and KNC... any feedback on either of those two? From what I can tell, KNC is pretty new but seem to have the right connections to push out some rigs here soon... BFL seems to have a interesting reputation here on the forum... with some calling it a scam/ponzi, to shipping issues... but from what I can tell, people are getting their rigs. Thanks! Title: Re: Is building your own miner worth it? Post by: Moogle on July 13, 2013, 11:11:05 AM Remember there's also services like coinlenders.com or you can invest in just-dice.com
Title: Re: Is building your own miner worth it? Post by: mtl325 on July 13, 2013, 09:21:20 PM n/t
Title: Re: Is building your own miner worth it? Post by: Oliwill on July 15, 2013, 10:39:07 PM You'll never receive a BFL before next year if you ordered today. If I had $10k right now I would: -Put $6k in LTC and leave it there (value expected to increase soon due to Mt Gox adoption) -Buy a KNC Saturn. (if you get it by Dec or so then you'll likely get a return on investment if the BTC price holds, but if BTC goes up this could be very profitable) Alternatives: - ($3k in LTC and buy a KNC Jupiter) (or 2k in LTC and get a Bitfury https://megabigpower.com/shop/index.php?route=product/category&path=59) Yes I would absolutely buy from a company that hasn't even shown a working prototype (KNC / Bitfury) before I would spend a penny on a BFL. If you're serious about mining you might later consider spending $2k or so on a GPU mining rig to get into some of the altcoins. Hey @Duffer1... the last thing you mention is "altcoins"... do you have a good idea on how I would go about doing this? Extremely intrigued there. Thx! Title: Re: Is building your own miner worth it? Post by: Trillium on July 16, 2013, 10:47:19 AM Quote Hey @Duffer1... the last thing you mention is "altcoins"... do you have a good idea on how I would go about doing this? Extremely intrigued there. Thx! There is a whole subforum about them. https://bitcointalk.org/index.php?board=67.0 |