Bitcoin Forum

Hello

I'm new to the bitcoin scene and have been looking to buy some more substantial hardware then the usb block erupter I have.

Does anyone think the  AsicMiner Cube is a good investment at <1BTC or should I wait for some of the 2nd gen hardware that will be appearing in March?

I ran through some of the online calculators and it looks like I could at least break even before March but I'm wary of their accuracy.

 
 I have made 0.02BTC with my block erupter and online calcs show I should have made more.

Any advice from experienced miners would be welcome.

The prevailing opinion among the miners is that the cube is currently NOT a good investment because you will NOT recoup the btc you spend on one in any time soon. The conventional wisdom is to buy bitcoins directly instead. If you DON'T mind losing some of your btc now and future, you can go ahead and buy a cube or two or more (the more you buy, the more btc you will lose), and start mining--just don't expect to make Return On Investment.

Additionally, Asicminer is planning for 3rd Gen miners this year (2014), best to skip over 2nd gen and wait for 3rd gen hardware.

Thank you. I had the same thought of buying bitcoins and passing on mining all together.  The chance of turning a profit seems to be based around the price of bitcoins skyrocketing but then why wouldn't you just buy some and sit on them. Same end result.  ;D

You're quite welcome. I have been mining since April 2013 and have never recouped my btc spent on mining rigs. The best thing is to buy the hardware with your fiat currency, not btc. No, converting your btc to fiat to buy miners does not count as buying with fiat.