Bitcoin Forum

What should i buy? or should i do something else?

Check out this blog post (http://www.daveconroy.com/beginners-guide-to-turn-your-raspberry-pi-into-an-affordable-bitcoin-mining-rig/). It's a 330 MH/s mining rig for around $130 which is pretty cool. It's just a Raspberry Pi and some necessary accessories, such as a powered USB hub, hooked up with a 330 MH/s USB miner. You can easily get a powered USB hub with 7+ ports at an affordable price, and the USB miners are going for about $20 on the BTC Guild website (http://www.btcguild.com/index.php?page=store&state=begin_order), so you could get maybe 7 of them and be mining at about 2.3 GH/s. If you pick the right mining pool, and give appropriate consideration to factors like power consumption, it might be something to look at. However, the last time I regularly mined was about 7 months ago, so I can't speak for how worthwhile it'd be nowadays.

Buy nothing! And especially don't waste 130$, or even 1$, on that thing. Return of investment (ROI) will never happens, difficulty is almost at 200 millions and keep increasing very fast

At today difficulty with 330mh/s you will make less than 0.75$ per week  :-\ Not even enough to pay the electricity consumption for that thing

Same apply to all other mining hardware, even recouping from expenses is impossible.

You will get three types of answers here:


A. Do not bother to buy anything, as it will not ROI.

B. Buy Bitcoins, they will rise overtime.

C. Buy XYZ miner.





Sadly, only A and B are correct, C is nothing more but a dream.

Buy bitcoins, don't buy mining rigs.

Some people think mining isn't profitable and defend that position to the death, and most of them are right.

But I mine, and I've turned a little bit of a profit.

Spending $130 bucks on 333mh/s is no way to start though. I'm afraid you'll need to do your own research there. Search for bitcoin mining calculators on google, I really like the Coinish one because it calculates off of predicted difficulty if you use the "expert" mode.

well i have free electricity.


i wanna try it out to see what it is.. i now i never will earn the $300 back. thats why i did set it as a limit.

Your best bet for ~$300 are USB block eruptors or some of the new gh/s usb miners.

Electricity is (pretty) insignificant when talking USB asics.

If you have free electricity you should mine altcoins with gpus, roi should be somewhere around 200-360 days for just the gpus (if exchange rates remain static)(not considering motherboards / ram / hd / processor / psu or electricity costs) And if you get tired you can sell your equipment used...

Which GPUS will be best for that.. but im also looking into bitcoin mining.. i my problem is i dont know what hardware to buy.

buy $300 in bitcoins dont mine them , or a 13Ghash Blade?

the 13gh/s blades is way more than my $300 limit.

For 300$ you can get only one Radeon 7970.
I'm not sure it's worth buying it but you say you want to try mining so it's up to you.

Buy bitcoins and use ~ 0.12 BTC to buy a block eruptor, just to get the experience.  Hold the rest.

About $500 worth

Buy bitcoin instead.

If you want to take part in mining as a passion, get a Block erupter USB for around 10-30$.

Or you could do some of your own research and figure it out for yourself instead of trusting your money and investments to random strangers on the internet.

Or whatever, maybe I'm just old fashioned  ::)

Most reasonable advice. If you want to mine do it for the fun... but do not expect huge profits from it (needs much larger investment).

Do not forget to participate in the bitcoin economy by offering goods and services. This is fun, too.


ya.ya.yo!

Use the online bitcoin calculator with step up difficulty to get your ROI, most likely it is negative. So just buy Bitcoin and keep :)

I'd suggest you mine alt-coin, I know that there was a mining profitablilty calculator there somewhere, comparing alt coins to bitcoins.  Diamond was like 300%+ more profitable.  Anyways, even if you do have electricity, it would take a long time for your ROI to reach, if it even does.

If you dig alt-coins with gpu in your pc when you are at work or sleeping you can make something in couple months and end up with gpu at lower price, especially if you don't pay electricity. But thinking about ROI or making money is not realistic.

With free electricity and your budget, GPU is best choice. You can make the 7970 return the investment in about one year - it means you will have free 7970  :)

cex.io (https://cex.io/r/1/fattypig/0/) is currently priced at 0.219 GH/S, I would say not a good price too as bitcoin difficulty just rise about 30% few days ago. Buy bitcoin and keep :)

Yeah, honestly I think this would be a good way to go these days.

1) For GPU, mining scrypt is 5-6 times more profitable compare to Bitcoin.

2) If you really want Bitcoin so badly, you can always mine scrypt (i.e. litecoin, feathercoin) and then convert them to bitcoin using Btc-e.

3) If you don't want the hassle, you can point your miner to middlecoin.com. Middlecoin help you to choose the most profitable alt-currency at the point of time and then auto convert all of them to Bitcoin with a small fee (3%).

4) HD 7950 and 7970 are both good for GPU mining, as an alternative, you can wait for the new GPU Radeon R9 290x which is coming out next week.

Hope that helps :)