Print Page - What should I do

Title: What should I do
Post by: jacktyme on December 25, 2014, 05:15:36 PM

I am suppose to be buying 3 S1 Antminers (180 GH) for 30$ each off someone. I have the PSUs to run them.
But I am wondering if this is just a waste of money. I wanted to mine PayCoins (XPY) but the pools seem to be closed.
I looked for other Altcoins to mine but they all report on various websites that it is low profit. (Does anyone know a profitable coin to mine SHA256?)

Should I buy them? Or should I get some VPS or dedicated servers and CPU Mine a good coin that can make me profit?

I don't know what to do. It seems unless you have a ton of ASIC hashing power. A few antminer s1s (3 in total) wont be able to make much profit. And as the days go by these Asic miners become more obsolete.

I am at a standstill now. The person wants to meet in a few hours and I don't know if I should cancel or buy them.

Any advice would be great.

Thanks

Title: Re: What should I do
Post by: Bombadil on December 25, 2014, 05:44:32 PM

Quote from: jacktyme on December 25, 2014, 05:15:36 PM

No mining is profitable, unless you live on free electricity. And even then... To ROI in a decent time, you'll need to put 24h a day into it ^^"
Mining to me is just nerd-galore at the moment. I love to play with miners, tweak them to the max, program tools for it, etc...
But the days of easy money are over, at least for us who can't write their own private miners, and have been for some time now TBH.

So to answer your question:
https://i.imgur.com/IuQC5Dd.jpg

Title: Re: What should I do
Post by: Amph on December 25, 2014, 05:52:21 PM

you could try solo mode, if the diff isn't too high(or don't keep rising, which is the real reason why solo mining isn't advisable)

with free eletricity and cheap HW you could make some profit

Title: Re: What should I do
Post by: cisahasa on December 27, 2014, 07:01:30 PM

dont buy them

Title: Re: What should I do
Post by: notlist3d on December 27, 2014, 08:01:24 PM

VPS and CPU are worst you will never make the cost back. If you get a miner personally I would look at newer the S1 is just getting old. Even with free electricity you can get some new models with a lot more power for the same electricity used.

Title: Re: What should I do
Post by: peonminer on December 27, 2014, 09:05:56 PM

The new S5 looks promising. A lot of new chips are coming out, that will consume less power than those old miners you are looking at..

Title: Re: What should I do
Post by: TechnoBibble on December 27, 2014, 10:08:45 PM

I made some cash by taking a gamble on some altcoins when they first started up.

Title: Re: What should I do
Post by: rulesky on December 28, 2014, 01:50:50 AM

suggest you all do not buy, you can buy coins directly!

Title: Re: What should I do
Post by: jawitech on December 28, 2014, 01:53:54 AM

Quote from: rulesky on December 28, 2014, 01:50:50 AM

suggest you all do not buy, you can buy coins directly!

At the current price, definitely!

Title: Re: What should I do
Post by: toptek on December 28, 2014, 02:02:50 AM

don't buy them you may waste more in power just run in them to get nothing , Id say buy some S3 or S5 coming out you'd be better off .I wouldn't even try solo mode with them with free power that how useless they are now .

Title: Re: What should I do
Post by: Jackson86 on December 28, 2014, 04:34:07 AM

why you buy hash for people? if now mining coin is profitable, nobody will lent out their rigs

Title: Re: What should I do
Post by: marcoman22 on December 28, 2014, 05:13:18 PM

Don't buy S3 , wait for S5 - it is more power efficient and is much better.

Title: Re: What should I do
Post by: jacktyme on December 28, 2014, 06:19:59 PM

Thanks for your input guys

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Alternate cryptocurrencies => Mining (Altcoins) => Topic started by: jacktyme on December 25, 2014, 05:15:36 PM