Bitcoin Forum

Hello!  As I've stated in the title, I have $10,000 to spend on Bitcoin mining.  I'm however am having trouble finding the best buy.  If any of you can tell me what the best miner is for 12 BTC with the most reliability, highest hashrate, lowest power consumption, best reputation, fastest time from order to shipment, etc.

Thanks!
-Suo

Buy BTC instead

Your best bet for immediate delivery? Those 180GH/s Antminers are looking pretty sweet. You could get 3 of them, for a total of 540GH/s.

That's assuming you don't want to wait for a pre-order. 4TH/s of TerraMiners would cost you ~12k, but wouldn't be delivered until May. 3TH/s of Monarchs would cost you ~11k, but wouldn't be delivered until sometime between February and May(?).

Another option is GPU farming. You could probably get 15Mh/s if you shopped carefully. You won't make as much, and your power bill would be higher, but your earnings would be less subject to rapidly increasing difficulty changes, and GPUs are a lot easier to resell on ebay.

Buy BTC and hold, or if you can find a Jupiter, they're still probably the best available miner.  Bitfury (400GH/s) are pretty awesome too, but they are also pretty rare.

I'm selling some gear (Saturn and an Avalon) but I can't say honestly that that's what I would do if I had 12BTC to spend.

Good luck!

Thing is, I have to pay back this $10,000 in 6 to 9 months, so buying and holding might not prove to be the best option for me.

In that case, I would find a nice miner ASAP.  Can't think of any worth 12BTC though...
Like the guy above me said, maybe 3 AntMiners?
If you can snag some KnC gear, I can attest to their quality.  Fantastic units.  Keep your eyes on open on Craigslist for Jupiter or Saturn units.

Spend 8-11BTC on a Jupiter.  Hold the rest for a month or two, then supplement your mining pool slowly as you bring in BTC.

I will say one thing though, if you need to pay this loan back, do not pre-order anything.

Just my 0.02BTC

I am in Batch 1 for HashFast. And was withing the first month of BFL back in the day.

Definitely do not do pre-orders. I waited over a year and 3 months to finally get my stuff from BFL.

Buy into my group buy, its currently the best price per hosted GH, and we also have a day 1 Neptune included.

I would never do a preorder, though I was truly tempted for the 5 GH/s BFL jalepenos.

If I pickup a Jupiter for $9000 and let it mine 6 months straight, I would still have about 4 BTC to make up for.  6 months from now the Jupiter will be obsolete mining 0.02BTC per week.  (http://bitcoinwisdom.com/bitcoin/calculator)  Can you explain the 'supplementation of the pool?'  I don't know how it would turn ~1 BTC into 4+ BTC.

Its not serous advice but i would think to buy some a lot of mining rigs to get high hashes :) like 50 butterfly jalapenos :) 50x200$=10k$ and you get around 300-350 GH/s :) some Jelys do 6-7gh/s but u would need separate room with a lot of sockets :) Its not the best idea but thinking in that way u could get around 400-500 ghz/s from buying a lot of separates stuff and fit in 10k$,

Actual price is 2,65BTC so he can get 4 ants = 720GH on default clock , 770GH or 810GH after OC

if you're gonna buy jalapenos, make sure you get them a good psu, else they will die out fast. Those ATX ones are great, there's a thread that a dude sell those atx to 5.5mm connectors so that you could plug in to your jally.

In my opinion, get stuff that you can get your hands on right now, not a pre order or anything, unless the company is sure to ship at that stipulated date. I waited 5 months for my jallies. They died recently after 7 to 11 days of use. Mostly power supply problems. I wouldn't recommend them, but it's your call.

Stuff from KNC seems pretty solid, rigid, designed for long term mining.

I buy from these guys and they have not let me down, always there to help if needed.

https://bitcointalk.org/index.php?topic=370260.280

Bitmain AntMiner S1
https://www.bitmaintech.com/

They're being sold now for 2.65BTC for 180GH/s (or overclock to 200). Get 4 of those and spend the rest of your money on good PSU's.

Right now, they give you about 0.065 - 0.075 per day per miner (depending on pool luck and overclock) With the current difficulty it takes about 43 days to mine 12BTC with them.
Yes the difficulty will rise quite a bit during these days and I didn't calculate the power costs, but still, even if it takes 90 days, still plenty of time to pay back your loan.

At that point you can do 2 things:
- keep mining for more btc
- sell them on ebay and take your profit in that way

I guess the value of BTC and the diff at the moment you made your ROI will help you decide what to do.

The most important thing here is, they're available. Sure you can do some pre-order stuff, but I think that's just way too risky, delays can really fck you over.

Good luck :)

edit:
there are also some other devices like Avalon2 rigs, but they really sound like a jet engine and use way more power which (in my opinion) simply rules them out to use in your home environment, if you were planning to set them up there.

there is no miner worth of buying right now.
blackarrow has sold out everything till May, KNC 3TH neptune is sold out also and it will arrive to late for you.
rest of the company's are not worth of consideration.

right now your best option is https://bitcointalk.org/index.php?topic=379819.0
i can confirm that guys are legit and I have 2 units running at 220-230GH/s without overclocking and they cost $2050 including shipping. they are shipped via DHL so package is in you hands within 4 days. they will even write low value for you so you can save some money on import custom.

anyway, be careful with your money.
this is definitely not the time to make any investments in mining gear except for BTC.

When is KnC Neptune first and second batch gonna ship?

I'm thinking about selling my saturn [october batch] [284GH/s ] for 6 BTC

This is a joke right????
285Gh saturn can earn in his lifetime around 3.5-4BTC.
WTF dude???

5.3BTC buys you 2 brand new AntMiners which together produce 360 to 410GH/s
I wonder how you expect to get 6BTC for a ~4month old miner which produces 284GH/s

you don't have to buy

The 12 BTC ganna get you much more profit then mining... check difficulty..

You can Pre-Order a CoinTerra 2 TH/s Miner or a KNC Neptune 3 TH/s miner. They will make you good profit.

no they won't!
cointerra is already late and by the time you receive it diff will be so high that it won't even ROI.
same thing for Neptune. If you pay it right now you'll be at the end of batch 2 for delivery. black arrow will hit the network hardly (end of February) together with first batch of Neptune and also cointerra when they start with delivery. by the time you receive Neptune purchased today diff will be so high it will not earn you anything. 

Buy litecoin instead... its really cheap now...

Did you borrowed the money ??
This is the reason for you don't want to buy BTC and wait for the price to raise?

+1. Expect litecoin to make new highs later this year when Coinbase adds litecoin.

Actually for 12BTC you can get 5 Antminers - 5x180GH normal = 900GH

EDIT: Sorry forgot to mention that you can overclock them to achieve 200GH per unit but that will void your warranty.
More info here: https://bitcointalk.org/index.php?topic=344970.0

Antminers are on sale now for only 2.2BTC, I bought one yesterday and received a tracking number today.
Delivered by Thursday in Eu.

They are currently sold out but they will have a few more before the Chinese New Year from what I have heard.

Try this:

https://bitcointalk.org/index.php?topic=417159.msg4588475#msg4588475

GenTarkin states that they should have more by tomorrow for shipping by Tuesday
I am sure he knows more ;)

I am sure there are plenty of options for you in regards to buying miners but none will be worth more in the end  than the coin you hold right now.  With all this unpredictable hash power coming online,it could make your new found miner a nice conversation piece quick and you would be in debt. Buy coin and when they triple in value,then buy a miner if you feel lucky. Coin is king.

Get a KNC Neptune 1st batch pre order off someone else.

Dont buy miners ( or bitcoin ) or anything else speculative with borrowed money. That would be my advice.

+1
Dont speculate with anything you cant afford to loose.
Delivery delays, increased difficulty, price drops for BTC ... far to many possibilities of not making your money back.

I agree. Check my signature ;)