Bitcoin Forum

I am looking to get some hardware for mining, needs to be pretty cheap. Just want to get into mining somehow some way. thanks to folks in here who saved me from spending k's and k's on new pre order crap.

Good day to you all.

Best thing to do is buy and hold Bitcoins if you believe in Bitcoin. At the moment the chance that you order and receive a miner with enough time to make a return on investment is highly unlikely.

Most miners are not going to give back the Bitcoin value that you could have had just buying the Bitcoin in the first place.

The cheapest (per GH/s) mining gear that is available right now are ASICMiner's Block Erupter  blades. You can get 10.7 GH/s for BTC 3.65 including shipping, and even less if you oiroder more than one blade.

At the current difficulty, 10.7 GH/s should earn around BTC 0.0477 every day. Assuming the difficulty rises 20 % in every adjustment, you'll have 11.67 days between adjustments. If you started mining when the difficulty jumped to its current value, you would have made BTC 0.5566 before the first adjustment (minus pool fees and power costs).

Sticking with 20 % difficulty increase every 2016 blocks and neglecting the fact that block rewards will eventually get lower, you won't mine more than BTC 3.3396 (see geometric series (http://en.wikipedia.org/wiki/Geometric_series)), which is BTC 0.3104 less than your investment...

thanks for the advice people, really appreciate it. :D

You could always buy one of those USB mini miners. The fastest one does 2.5 GH/s and costs less than a bitcoin.

Are you talking about bitcoin mining only or alt-coin ?

alt coin mining too

Alt-coin mining is another buisness. You don't need to invest a lot but you need knowledge in hardware because you have to build yourself and adapt your rig.

The main factor for GPU mining is the electricity price and the efficiency of your rig. You need to find a place with the cheapest electricity and optimise everything to produce more hash with less watt.
I find it very interesting even if you are not gonna make huge money, you will learn a lot.

The good thing is it can be cheap and you can resell all parts for a good price like I did so at the end you can make some money.

I don't pay for electric at all, so that's not a problem. I wanted to get into mining to get some extra income. like $100 a week.

If you don't pay electricity then any GPU mining rig will ROI. The cheapest the components are, the sooner you ROI.

A USB based miner is a good drop in replacement for your GPU. The ones I sell cost less than a bitcoin and performs at 2 GH/s. Plus that frees up your GPU for stuff it was meant to do: graphics.

Can you give me a link on the ones you sell please

The USB miner he is talking about is the latest generation of USB miner : Red Fury USB Miner. It is portable, sexy, easy to install and low consumption. It can only mine SHA-256 algorithm. It is not probable to ROI with it but the resell value can be higher than what you paid on ebay because of the demand.

You can buy from Dabs, he is a bit crazy but honest.

ahhh yes i know about those...sexy indeed. Mr Dabs, how does 1 buy these?

Assuming 20 % difficulty increase every 2,016 blocks, you'll ROI if you buy the miners at BTC 0.847 or less (possible if you order enough units).

As with all mining-only devices, you can forget about the resale value once the difficulty has risen.

Here is the link where I sell the miners:

https://bitcointalk.org/index.php?topic=296953

If you buy a lot, I'll sell it to you real cheap. The pricing structure is in the post.

okay thanks