Bitcoin Forum

Greetings

I am new to the digital currencies and I have read a lot about them
But still I have no knowledge about the major differences between them

I would like to know whether SP35 Yukon mining machine will be suitable for feathercoin and litecoin?
I am planning to buy one soon

I saw how difficult would it take to mine bitcoin so I thought about buying the mining machine and start mining feathercoin and litecoin

Shall I go for it or no?

Thanks  ;D

don't buy any mining hardware it's not profitable,roi could take up to 6+ months.better do a research before buying.;)

Spondoolies gear is cool, but mining is a very tricky game these days.
You would probably make more money over 6-12 months by just putting $3,500 into BTC and/or a good alts portfolio, and then going for a nice long sleep.

But if you can get free electricity, do it. If you'll have to pay for the juice yourself, don't bother.

ltcgear or other cloudmining services, no maintenance, no electricity and it is a cheaper than buying the hardware which will be completely outdated in a year or so

I appreciate your responds
Can anyone inform me more about cloud mining?
What is the advantages and disadvantages?
Is there any feathercoin mining?
What about terahash service?
what about the profit? is it worth it?

Thanks again

I would buy some BTC and be done with it. If you are skilled maybe give trading a go.

If you must mine, how about Bytecent? You can use your laptop its CPU mining.

Thanks for your replay
Bytecent is new to me
I need to investigate it more
Thanks ;D

I think more wise choice would be cloud mining. It is not easy to mine with your computer - in a cloud you can mine 24/7, if you mine by yourself - 8 hours, ok 10 hours in a day. And very important would be also altcoin choice - if you mine altcoin, which do not have demand, you can not sale it. If you mine altcoin, which have demand in a market - what would be your profit - it can be also very limited. If you invest in the altcoin cloud mining - better firstly calculate your profit  ;)

dont listen to people saying you wont make any money, those people are all mining themselves and dont want newcommers.

seriously 6+ months, do your own research lol idiot

Well - first of all - Cloud Mining is the biggest gamble there could be.  You buy a certain amount of hashing power for a period of time -- up front.  What happens if the company closes its doors early?  Or they just stop paying?  Or they increase their crazy maintenance fees?  Not to say it is a scam - but it doesn't feel good.

On equipment -- you can make ROI in potentially 3 months.  It just depends on what alt-coin you mine, how you trade it and what equipment you buy.  There are no guarantees -- but at least with equipment you are in more control of your destiny.  This is the opposite with some "cloud mining" company that supposedly has all this equipment working for you.

On deals -- the best thing to buy that is available right now would be the A2 Terminator miners (88Mh/s or 100Mh/s).  I've seen these go for about $1,000 USD on Ebay.  They are the most energy efficient (about 900 watts) and are solid with built in PSU and controller.

On potential equipment -- Hashra is supposedly going to finally release their Astro product at the end of this month.  You can buy it in the US (using Paypal for extra security) @ $450.00 each.  The specs are stated as 100Mh/s @ 600-700 watts.  This is pretty much a preorder and Hashra was supposed to release this unit by October.  If you do buy - buy with a Credit Card through Paypal (never ever send them Bitcoin or a wire transfer -- crazy). 

There is a site selling them http://shop.lifeforce.info and the owner is well known throughout these forums.  Hopefully they will come through, if not you get a refund -- or worse case dispute the charge.

Don't buy any mining hardware it's not profitable anymore because you hardly reach rate of interest in 6 to 7 months and electricity costs are separate.
better invest in cloud mining

best mining machine maybe it's called "buying directly btc" and then just hold, don't trade too much unless you are professional, it will cost you more then what you can ever earn

no, wrong algorithm. sorry.

Seriously?  I mean does everyone on here have a vested interested in some so-called "cloud mining service?" 

It is junk like this that makes these forums less credible. 

Firstly it depends on what altcoin algo it is.
A lot of them use scripts and some use mixed algos like X11,13..

I am also hoping to see something new come out in 2015 for mining coins.

SP 35 Yukon Mining Machine can only mine sha-256 algo which means only bitcoin and other sha-256 coins. Feathercoin is neoscrypt and litecoin is scrypt so you can't mine those.

SP 35 is a good investment for you if your electricity rate is cheap, below 0.10KWH. But there is also a big risk to as bitcoin difficulty might suddenly rise really fast like few months back. So good luck and make your own decision.

now the time of mining machines is over and time of buying coins has come.

Not really, bitcoin difficulty isn't increasing much. Have a good chance to ROI if it takes only 3 months based on calculation.

i'm on course to make 10BTC from this week of 8.6TH/s
someone launched a new cult and attached an altcoin to it, rental prices are ridiculous.

I have some g-black miners for sale if you're interested.  They're for mining Litecoin and other Scrypt coins.  See here:  https://bitcointalk.org/index.php?topic=874711.0

+1
6 months in this "world" are too much...
Choose a price that look good and buy btc-altcoin-yourfavoritecoin