Hey all,
So I just landed a full-time job and am looking into saving up and buying an ASIC miner that costs in the neighborhood of $1000. Has anyone done the research recently and have any suggestions as to what miner (or miners) I should get for that amount of money? Right now I'm looking at this...
http://zoomhash.com/collections/complete-asic-sets/products/plug-and-play-gridseed-80-chip-blade-miner-5200khs-door-to-door-within-4-business-days-guaranteed

Thanks

edit: Forgot to mention that I'm primarily looking at Scrypt mining, but am open to suggestions. I use clevermining as my pool.

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I get this error when I try to look at the hashcows website, and when I try to mine it says "connection problems". Mining another pool for the time being but you guys have been phenominal the past week so please get someone on this ASAP! (Unless this is scheduled maintenance or something, in which case ignore the panicky idiot).

You guys said on the News page that you're not mining DOGE because the overall pool MHs are too low. Do you have an estimate as to what MHs the pool needs to reach before DOGE will start getting mined?

I imagine MEOW would still be better anyway right now, but watching DOGE consistently sticking around in the top 3 on coinwarz is pretty painful to watch when we aren't fast enough yet.

Well shit...
Though I'm still skeptical, I had only made .0105 the past 3 days, but today I made .1350 in around 18 hours from an apparent surge in MEOW. I've heard from a fellow 7950er that I should be making $5/day easy, and today's earnings puts at about that. Maybe my sample's been too small, but only time will tell. Still though, coinwarz claims the best coins should be going for $9ish a day...

Hey guys,
I mine in the hashcows pool, which mines the most profitable scrypt altcoin and converts it to BTC. However, using the coinwarz calculator at 650 kh/s (I mine with a 7950) the most profitable coins should be earning anywhere from $7-$10 a day. After 3-4 days of mining, I'm averaging roughly .0035 which is around $3 a day.

Why am I making so much less a day than what coinwarz says I should be making? Is hashcows a slow pool? What am I missing here and what can I do to see these supposed potential profits?

I'm gonna assume "Hey hashcows, do your thing" is not considered mining smart
Feel free to give some tips.

I get around 650 kh/s average. I've only mined for 2-days non-stop and come up with around .007-.008. So I figure, .003 x 28days x $850 = $70 is my minimum expected if I'm running 28 days worth of mining a month.

New miner here,
I seem to be raking in around .003-.004 BTC a day through hashcows using my 7950, which should net me anywhere from $50-$80 a month; pretty sweet change for a 0-effort job (and I'm a lucky no-electric-bill miner)

But I was wondering, will scrypt mining with a GPU soon be obselete, similar to the way it is now when mining BTC directly? I'm excited to think that I'll have a full bitcoin by the end of the year, but I don't want to set my hopes high at free money and just get dissapointed by the emergence of scrypt ASICs and whatnot making mining even more implausible for.non-pros.

If/when GPU mining is obsolete, do we expect other hash algorithms to come out (along with new altcoins) that will keep GPU mining profitable?

I don't plan on investing on any gear beyond my current gaming computer, so I figure if I'm gonna get dissapointed then better now than later.

I just started mining the past couple of days and only have .005 thus far, so nothing I want to cash in. I doubt I'll be cashing in anytime soon unless I really want a hardware upgrade that badly. I'd rather wait til the end of the year at the very least and have a nice ~$600 cashout (at the current market anyway).

I just want to know my options for when that day does come around that I want to cash out.

Makes sense, thanks!

Are there any trustworthy BTC to USD conversion methods that are more "automatic" (for lack of a better word). Meaning, not involving two people agreeing on a price and making the transaction. As in, are there any websites or anything that you can simply exchange your BTC for USD based on the current market?

Well, I only have the equipment because I built the computer a year ago as my first custom gaming build, I only just realized its potential to mine the past couple of days. So essentially I never invested a dime into mining, I just ran into it with equipment I already had.
Also, I don't pay my electric bill, low-income housing ftw
The only thing I'm arguably investing is the lifespan of my 7950, which runs 73-75C when mining. Though I've heard it's potentially worse to go from idle to gaming consistently than to run at full-load all the time.


But I digress, I'm getting the feeling at this point that people typically buy BTC for the average market price among all markets?

Yeesh, no kidding. Not sure where I got it in my head that I should look any further than their websites and forum page. The [ANN] strategy works great! Thanks for the advice

And as far as security goes, would you say storing the wallet.dat files on an portable HD is a sound strategy? I disconnect it when not in use, and have the files hidden and encrypted.

As of now I have no plans to invest in BTC, I prefer to mine since there's no risk (I certainly don't know enough about crytocurrencies in general to dare wagering money on it.)

But I just want to know how much I should expect to sell the BTC for at the current market. Do you not sell BTC directly to a market? Do you have to sell directly to other people (can you detect my level of cluelessness by now? )

If you generally only sell BTC to other people, then is the average market worth what you sell for?

Hey all,
I'm confused regarding the various markets of BTC. mtgox is always highest but I've heard they're having issues with USD withdrawals. Then the other two for USD seem to be btce and bitstamp.

How do I go about deciding what market I should use? Is it simply a matter of go with whichever is worth the most? Are some more reliable than others? Fill me in as best you can on how these markets work, if you can.

It's annoying because I want to track the BTC value in USD via apps on my Droid, but some apps use one market, others use an average of all markets, so it's a pain to figure out what numbers I should be using to predict how much money I'm making via mining.

Would you mind specifying a bit? I'm having trouble understanding your plan. Convert 95% to bitcoins, then with the other 5% convert them myself to litecoins?
And hey, I sure HOPE they hit 10k, don't get me wrong. That'd mean I'm mining over $2/hour, a goldmine to a fulltime college student 

Glad to see I got more votes overnight, would love to hear everyone's reasoning behind their choice! Thanks guys.

Will you guys be making an effort anytime soon to make the site more mobile-browser friendly?

Don't get me wrong, your site is decades ahead of pools like Middlecoin who look like a notepad document, I love the look of the site when I'm on my computer. But if I use my Droid's browser (or the Chrome app) there is no black bar at the top to navigate through the site. To view my stats, change account settings, etc. I have to know the URLs by heart (or make bookmarks) to be able to get to any page other than the homepage.

Making it more mobile-friendly would be fantastic for everyone wanting to view stats or do coin management away from their computer, and I bet it would help boost the site's popularity as well.

Now why didn't I think of that? Not a bad idea. I saw people speculating that BTC may reach $10k in the next few years though so it would suck if I cut that profit in half. Still a good idea since $10k may be a bit of a reach.

Any more voters out there?

Hey all,
I just started mining a couple days ago. I use the hashcows pool which mines the best valued altcoin. By default, it converts the altcoins to BTC after each round of mining, but you have the option to keep whatever altcoins you mine without converting them.

What would you all think is the best course of action; to keep the altcoins in hopes that their value will grow in the future, or have them converted immediately to BTC? I suppose its more a question of what you expect to multiply in value more between altcoins and bitcoins.

I also added an option in the poll to convert some altcoins and sit on others. If you choose that please specify what coins or how you would go about determining which coins to sit on and which to convert.

The following is a list of the altcoins that the pool has mined lately, for reference...
WDC
DGC
NET
EAC
MEC
MOON
RPC

Hey guys,
I started using Hashco as my mining pool so that I could mine various altcoins without having to monitor it. However, I don't want them converted to BTC, I want to mine them and sit on them in hopes of their market increasing. Right now, the only wallet I have is for BTC. From what I hear, there are alot of fraudulent wallets out there so I am uncomfortable finding the various wallets for all of the altcoins. Can someone give me links to trustworthy wallets for the following coins, or direct me to a list online that has a confirmed, trustworthy list of wallets?

The following are the most commonly mined coins by Hashco as of late, so they are most important...

DGC
EAC
LOT
MOON
NET
RPC

The rest are other coins that the site may mine...

42
ALF
ANC
CAP
CAT
CGB
CSC
DMD
DOGE
EMD
FRK
FST
FTC
GME
IFC
MEC
MEM
MNC
PHS
SBC
SXC
WDC
XNC

I don't anticipate anyone having a wallet for every single one, but please share any wallets if you have used them for a while without problems. Thanks!

Thanks for the advise about hashco, it's just what I was looking for! I was using middlecoin but I didn't like how I was forced to convert to BTC. Hashco also looks like an actual website as opposed to a notepad document  . I'll give hashco a try overnight and see how I do.

However, I currently only have a BTC wallet and if I want to start banking altcoins I will need other wallets. Is there any programs out there that propagate all of your various alt/bitcoin wallets into one program or do I need to get one program for every altcoin I want to bank?

Also, to machinationus, I actually don't pay my electricity bill. I live in an affordable living complex and electricity is paid for. I suppose I could potentially increase the rent for the whole complex if my GPU juiced it that bad, but electricity is definitely not a concern for me (lucky, I know ) and my PSU is 80+ Bronze for what it's worth.

***Side Note: My apologies to the moderators. I haven't used a forum in years and forgot to put this in the right subcategory.

Anyway, just after posting this I took a look at this topic... "For Individuals looking to get into the Mining Game in 2014, please read this!" https://bitcointalk.org/index.php?topic=398290.0

That pretty much quelled my get rich quick scheme. I knew I had to be missing something for it to seem so easy. I feel like the moral of the story is that big businesses will be taking over the bitcoin market with massive datacenters of top-notch miners, making non-professional miners obsolete along with their hardware investments.

And yeah, Railzand, I wasn't planning on running out to my credit union in the next week donning business suit, monocle, and whatnot on a whim . I'm doing my research before I make any kind of moves, and by the sound of things the best moves I can make are either to invest in the coins themselves or stick with my gaming PC and mine altcoins.

On that note (and this is especially directed towards chesthing) what coins should I be going after using my 7950?