Bitcoin Forum

hi guys
i am really a total newbie when it comes about bitcoin mining. i've read here and there about mining bitcoin with Sha or mining other crypto currencies with Scrypt, but still i am not sure which one is better and i am not sure if it is smart to get into the mining now?
i understood that the difficulty increases and that the main factors are:
1. the price of the mining unit (the miner)
2. the difficulty level
3. the price per electricity (kw/s)
4. and what else? to be honest i do not know too much now and i will be really grateful if anyone would be kind enough to advise me to buy a miner or not? and if yes - should it be Sha256 or Scrypt miner?
if someone have some time to drop a link or an explanation which shows how the difficulty "should" increase in future i will be thankful too.

by the way - what is the best place to buy a script or sha miner? china? some website?

thank you all!
 

I think it is not really matter what you mine as long as you mine with asics. Both sha and scrypt dificulty is scyrocketing, scrypt is using more power, as it is more complicated and heat is bigger issue. Also there is a lot more choose of the sha miners, so i would better go with those. It is another story is it really worth it to mine right now. If you have very cheap or free electricity, that yes, it may be a good choice to mine. I would recomend antminers, they are reliable, shipping is within the price.

Do you plan on holding? If so scypt might be for you.

If you plan on trading to BTC not holding onto Scypt coins chances are SHA is best for you.

If it you're in it just to mine as hobby and fun and don't expect to ROI, just get an Antminer S3+ and Multipool it.

Mine some SHA Alts and convert to BTC.

Watch out, it's not hard for someone to give you the wrong advices  :D