Bitcoin Forum

Hello everyone,

I'm new to Bitcoin and to mining. My colleague and I have, however, done a little bit of research and have decided to begin mining with some ASIC Miners.  We are going to start by investing into 750 GH/s worth of miners. And the plan would be to roll up any immediate earnings into additional miners and equipment.

Long term goal would be to continue to do this, even to the point of upgrading electric service at our current office if necessary.

Is this still a viable profitable venture or are only the Pool owners themselves and those with 100s of Terrahash able to profit at this point?

I've read somewhere that as long as you double your hardware (Capacity?) every couple of months you can remain profitable?  Just looking for some solid advice as to whether or not investing some money in this fashion will be long-term profitable.

If 750 GH/s is not an ideal place to start, what would be ideal?

Thanks and have a great day :)

*EDIT for typos

Any expert miners out there able to supply any advice in this area?

There is no ideal number.  It is more to do with what you want to spend.  I suggest only looking at items currently shipping, don't go pre-orders. 

Some might buy 1 miner and other's buy 10.  Just different strokes for different folks.

Profitability no one can promise.  Depends on electricity price, price of miner.  One of the biggest things though is electricity price.  If to high look into hosting.

your power cost is important.

if you want 750gh


 you can buy 2 s-3's  from bitmaintech but you will need BTC

if you do not have BTC here is a reseller link.

https://bitcointalk.org/index.php?topic=682528.0

he takes amazon payments.  you will need a psu and you will need an ethernet connection.



 if you want a new psu there are multiple ones to pick.


buying 1 s-3 gets you  400 to 441 gh  cost 470-500 usd

 a psu can be 80 bucks   here is a link for one the deal ends soon.

http://www.newegg.com/Product/Product.aspx?Item=N82E16817151137

No, no (pool miners, asic manufacturers are still making shit tons of money), and definite no (unless purchasing bulk equipment for significantly below Retail)

Purchasing 100TH worth of hashing power results in exactly the same reduction of bitcoin earnings per difficulty jump as only hashing with a single USB 333MH stick believe it or not.  If you aren't making money with the uber-cheap 333MH sticks that you can literally purchase for a few dollars now (btw, these where selling for > 1BTC when they first came out a whole whopping 12 months ago) you sure as shit won't do any better with 100TH worth of hashing power (again, unless bulk purchase results in significantly lower MSRP).

I would suggest buying something that still has some power but has depreciated quite a bit.  The S3s are nice and efficient, but you need to buy 2 at a time, so you have to find a partner if you want just 1.

I would buy an used S1 for cheap and do a trial run with that and understand the mining process - if you think you can come ahead after a month of that - then jump in (there will be no shortage of more advanced miners then).

Don't know if you want to go down this path but alot of cloud mining options here. Check my signature for details there is one that even gives free khash for 10 days for tryout just to get you a feel. I have been using cex while they are exp they are very trustworthy. I like the free site as they also offer x11 hashing power along with scrypt and sha256 so if u dont like one just trade it for another.