Bitcoin Forum

I am relatively new to bitcoin mining and it's really hard to decide on which hardware to buy and from where.  I see all the complaints about buying a pre order, so I will never pay for something that is not already shipping.  Then there are those obviously fake websites trying to claim that they have a 15 TeraHash miner and another that advertises that by September they will have a miner running at 6 TeraHashes for only $5,000.  And then even if you want to buy a machine that is actually real, would you send your money to China with no recourse if you don't receive your machine.  Why do these companies only want to be paid in bitcoins or with a wire transfer, if they are not scams? Now I see a company advertising a 600 GH and a 1 TH PCI card - wouldn't that be great if we could use our computers again to mine for bitcoins, but I'm not going to take a chance and pre-order one of these cards for $3,000.

I want to buy something with a credit card or with Paypay.  I have purchased my mining hardware from EBay - I have 9 Antminer S1 systems.  They may not be the latest and best, but I have received them without being ripped off.

I'd like to know what every thinks about all the scams out there and if you can suggest legitimate sites and ways to putchase mining hardware.  I really don't think that there are mining rigs for sale that are much faster than 3 TH's and they are going for close to $9,000.  I'd rather have 15 Antminer S1's to mine at 3 TH than take a chance and pre-order a 3 TH unit for $9,000.

Just buy coins.

Why?

I don't mine, but I think a major problem with getting the hardware is how long it takes to get to you after you order it. I have heard that often times by the timeyour equipment reaches you, it is almost outdated and there is new equipment out there. As the difficulty continues to increase, it often times would be better just to buy the BTC from an exchange (if that is your ultimate goal).

So if coins are selling for $600, then I could buy 8 for $4,800.  What could I hope to make?  Where do you think the price is going?  Double, Triple or back down to $200.  I lost money in the stock market - I don't plan on losing money by buying coins.  I don't know why the latest strategy and suggestion is to buy bitcoins?  Maybe when you could buy 10,000 for $1 when they first came out as a joke, but not at $600.  Sure, it's possible that a coin will be $5,000 a year from now, but I have my doubts.

If that is the case then you will lose more if you buy hardware.

If you buy x coins now, they will still be x coins in a year.
If you buy miners now they will be obsolete within 3 months.

EDIT: If you are determined to get miners my advice would be the Antminer S2
 

Reputable place would be Bitmaintech .com or Jonesgear .com  if you want to pay in paypal or credit card.  Bitmain is only bitcoin or bank wire transfer.  

73's

In Bitcoin We Trust!

Edit:  Bitmaintech has the miners to my door in 2 1/2 days to Midwest from china..   Jones Gear drop ships from bitmain may take couple extra days..

Just to give you an idea an AntMiner S2 (running at 1TH/s) would yield about 0.3 BTC/day ($23/day).  Assuming that difficulty doesn't change (IT WILL!) you'd ROI in roughly 100 days.  You won't be able to run an S2 profitably (assuming $0.10/kwh) after network rate hits ~800m.  If you have cheaper power (unlikely unless you're on a big commercial plan) you might make it a little longer, say 1.5b GH/s.

It is easy to buy hardware, it is just hard to have it arrve, arrive on time, arrive on time and work.
why not hold on to  your coins, past experienc shows it is the best way to make money with bitcoin.
not the answer you wanted to hear but its the truth.

Mining is a risk just like buying, only difference with buying a bitcoin is that you do not need to see a $12k appreciation to breakeven.

I think you mean the Antminer S2 is making 0.03 BTC / day  ;)

If you're dead set on buying mining equipment that ships in a week and using your credit card, I'd recommend this company:

http://minersource.net/

Not the best prices, but should be on your doorstep in less than a week and you can use either bank wire, BTC, or credit card to pay.

Also, if you're just starting out, I'd recommend one of the smaller miners like the Rockminer R-box or Antminer S1 to see if mining is for you.

If it's not pre order (you have to know who you pre order from) it is not profitable. It's pure and simple loosing money. So, it is better to buy coins and hold. As simple as that.

No more questions, just do it. Bitcoin may be trustless, but you can trust the good honest folks on this forum.

Except the ones trying to sell you gambling shit in their sigs, those guys are aholes.

Hey, I take offense to that!   >:( My sig is purty and shiny.

I'm Mister Asshole to you.   :D

Well it isn't really that hard to buy hardware, but if you wanna ROI or profit.. that isn't easy.  I see mining more of a way to support the network these days. If you wanna profit, then you should buy coins instead and just hold for long.

I recommend GAWMiners, probably the most helpful guys out there.

use math : https://bitcoinwisdom.com/bitcoin/difficulty

7TH/s = 1,8 BTC per week.
-15% every 10 days ...

Selling this miner now with immediate shipping... 100% approval rating
http://www.ebay.com/itm/181435402464?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

Actually, 970 GH/s gets you 0.041 Bitcoin/day right now. I think you miss typed that maybe? ;)

WARNING !! Anything bobsags3 related is a scam.

https://bitcointalk.org/index.php?topic=640010.msg7144475#msg7144475

Even his signature campaign? I heard he actually pays there :D

Wait, minersource.net isn't reputable? Crap... I ordered something from them a week ago (but it hasn't arrived it).

:\

You never actually researched info about the seller before ordering? :D You like the risk don't you?

Double crap ! I forgot to edit out their link.

Good luck. I hope things work out.

@bitgeek Keep laughing... douche ! :P

How is it hard to buy mining hardware? There's like twenty ads about it on the forum everyday, more than ten reputable sellers, Amazon, Tiger Direct, Wal-Mart, and... Jeez, people randomly bringing it up in conversations.

mining is not worth, people who mine just do it for fun or don't like to trade

I'm going to but it simply:

It's not affordable to buy mining hardware.

Depending, it's not necessarily hard to buy the hardware, but the expense-payout ratio is too high.

Buying NEW mining hardware is hard. Other than that, it's not hard to get your hands on out-dated equipment.

I do sympathize with the OP, though. It is quite hard.

I did research it a bit, and also saw them slathered all over this and other forums. They seemed legit.

This is the first "splurge" I've done on mining gear, and I can't afford for it to be a bust.  It is supposed to arrive on Wednesday... should I inspect it and look for anything obvious, or try and outright send it back?

***.

:\

I'd check it, there's a chance it actually works. I think some people got working hardware from him. Get a camera and record the unboxing so you have proof in case it came damaged.

Tell us how it went.

Rule #1:  The part in bold, and anything dealing with bitcoin at present do not mix.  That's what I tell anyone asking me about bitcoins.  If you can only afford to lose $10, then just buy $10 worth of bitcoins

Rule #2:  If you can't profit from mining without a price jump, then you should have spent the money buying bitcoins.  If you can't grasp this concept fully and completely, you will fail at many things in life, not just mining.

I've seen plenty of sites that list companies as currently shipping or are otherwise reputable that just aren't.  There are probably shill accounts on this forum talking up shitty products and companies.  You have to do your research and maybe sort of take advice from people with good trust ratings (and research the ratings). The key is research, research, math, think, research, repeat 30 or so times.  I've come to a conclusion that works for me:  I have only found that Bitmaintech products work for me, and I will never spend even the lint in my pockets for a preorder again.