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Title: Looking to get into mining Post by: starbuckz on March 20, 2014, 10:26:35 PM Any suggestions as to what brand of miners are most cost effective for a first time miner?
Title: Re: Looking to get into mining Post by: Gator-hex on March 21, 2014, 01:25:05 AM Bitmain Antminer S1
Title: Re: Looking to get into mining Post by: sudoku on March 21, 2014, 06:03:34 AM Depends on your budget.
Title: Re: Looking to get into mining Post by: jmevz on March 21, 2014, 06:54:40 AM I'm selling my S1, if anyone is interested. Please PM.
Thread: https://bitcointalk.org/index.php?topic=524543.msg5816578#msg5816578 Thanks, PS: Can ship tomorrow morning if keen and paid. Title: Re: Looking to get into mining Post by: dubouis on March 21, 2014, 09:30:55 AM most effective for a first time will be stop thinking about start mining! :D
Title: Re: Looking to get into mining Post by: vnvizow on March 21, 2014, 09:47:02 AM Get a GPU rig and mine other coins, you can always exchange them for BTC later because directly mining BTC is not profitable anymore
Title: Re: Looking to get into mining Post by: tkbx on March 21, 2014, 10:22:58 AM Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU!
Title: Re: Looking to get into mining Post by: sanjoea on March 21, 2014, 11:22:18 AM Expensive part is electricity. calculate before start mining
Title: Re: Looking to get into mining Post by: RileyN on March 21, 2014, 11:36:14 AM Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU! This. Banking on Bitcoin mining is a bad idea nowdays. Too much pain, not enough profit :) New (or relatively new) altcoins is the way to go atm. Title: Re: Looking to get into mining Post by: Shogen on March 21, 2014, 03:20:04 PM It is very very difficulty to get profits in bitcoin mining now.
Please spend a few minutes checking a mining profit calculator before buying anything. :) Title: Re: Looking to get into mining Post by: Bonam on March 21, 2014, 06:31:01 PM The days of easily mining useful amounts of bitcoin with readily available computer hardware are, sadly, behind us.
You could look into some altcoins and mining those, but a better approach would be to offer some product or service for sale for bitcoins and make BTC that way. Not only will you be able to actually get some reasonable amount of bitcoins, but it helps the entire bitcoin economy to have more real commerce happening in it. Title: Re: Looking to get into mining Post by: BitcoinValue on March 21, 2014, 07:07:36 PM It is very very difficulty to get profits in bitcoin mining now. Please spend a few minutes checking a mining profit calculator before buying anything. :) Title: Re: Looking to get into mining Post by: techgeek on March 21, 2014, 07:33:50 PM Mining Bitcoin will rarely be profitable. I would recommend mining altcoins that you think will be popular and selling them for BTC once they do. I got $80 in BTC for my 6 hours of Dogecoin mining with a mediocre CPU before it got big. Imagine what I could have gotten if I mined it for a week with a GPU! Listen to this guy, very smart thing to do. Invest small and probably now upgrading that gpu to some other stuff to build a better alt rig. Also chose a good ALT coin, since the algorithm of that coin is different then all the other ones. Title: Re: Looking to get into mining Post by: precrime3 on March 21, 2014, 07:36:29 PM So you guys think it is better to buy a gpu rig vs buying some antminers? I was thinking of getting some antiners and then buy some USB scrypt asics.
Title: Re: Looking to get into mining Post by: techgeek on March 21, 2014, 07:39:22 PM So you guys think it is better to buy a gpu rig vs buying some antminers? I was thinking of getting some antiners and then buy some USB scrypt asics. I mean if you can find a good price, then you`ll be okay. But, instead of risking that play smart and focus on alt coins. But most people on this forum over price a lot of things, so dont expect much. Title: Re: Looking to get into mining Post by: precrime3 on March 21, 2014, 07:43:00 PM There at .988 directly from bitmain.... Thats around 570 ish per, plus +150 for psu. 3 antminers pull in $40 dollars daily, vs. a gpu rig of 3 mh/s pulling in $12
Title: Re: Looking to get into mining Post by: jeppe on March 23, 2014, 07:41:54 PM as the ones before stated antminer s1 is the best miner out there atm, very very fast shipping that will get you up and running immediately!!
Title: Re: Looking to get into mining Post by: InCoinsITrust on March 23, 2014, 08:28:48 PM antminers is the most effective.
Title: Re: Looking to get into mining Post by: hunter001 on March 23, 2014, 09:52:47 PM antminers are the best, but dont buy now, you wont have any ROI...
Title: Re: Looking to get into mining Post by: precrime3 on March 23, 2014, 10:26:24 PM It seems like buying a script asic or a rig is probably best. Fibo offering 3.46 mh/s or $346, which is a steal at .10 kh/s.
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