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1  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: GAW Miner Discounts - Including Hashlet Prime and Hashlet Solo on: September 18, 2014, 08:42:39 PM
WELCOMETOGAW no longer works   Cry
Just bought 5 MH/s HashletPrime
2  Alternate cryptocurrencies / Mining (Altcoins) / Re: Altcoin Mining for a beginner... Worth investing in? How to calculate? on: September 18, 2014, 09:55:07 AM
If I were you, I would go for cloud mining. You get the same benefits without issues like heat, loud noise, power expenditures, breakdowns etc. Basically, you rent your miner from a hosting company, you do pay a little extra but it is well worth it. This comes from somebody who used to have several mining rigs and know all troubles which come with physical mining units. There are several companies offering this, let me know if you need more info. Good luck.

Thank you for the response.
However, I hope you can understand my hesitance to believe that when there is an advertisement for cloud mining in your sig...
I get a real-- not necessarily scammy vibe from them-- but a feeling like it's being pushed so much that the companies are making a lot more off cloud mining services than anything else.

Is there proof of ROI documented?
I've seen the GAW HashletSolo ($400 for 25 MH/s)
3  Alternate cryptocurrencies / Mining (Altcoins) / Altcoin Mining for a beginner... Worth investing in? How to calculate? on: September 18, 2014, 09:15:37 AM
Hey all,

So I am looking to get in to mining...
A little late to the party...

One of my buddies started. Invested a little over 2 grand and racked up 1 BTC in about a month.
This is going to decline steadily and quickly from what I have read. That's for SHA256

I understand difficulty goes up over time, and that seems to make it very difficult to actually calculate a ROI.

I was looking at Scrypt on CoinWarz.

Oh, a preface... My rent includes electricity. So no matter how high, my rent doesn't change. Grin

So I was looking at the GawMiner Falcon, for example.
It's a Scrypt ASIC running around 27 MH/s.
According to CoinWarz, mining 42s, with a $630 total equipment cost (for ASIC, Raspberry Pi, and PSU), and a 2% pool fee:
I'd break even in 54.42 days, and churn 1 BTC worth in 38.85 days.
As for Litecoins, same parameters, I'd break even in 154 days, 1 BTC worth in 109.77 days.
I am looking at a Hashra 200 MH/s ASIC for $2500 on eBay right now.
If I purchased that and mined 42s, it says I'd break even in 59.72 days and get 1 BTC every 10 days. ($15,279.85 Annually)
Mining Litecoin: I'd break even in 82.8 days and get 1 BTC every 14.8 days. ( Annual $11,014.49)

Getting a 200MH/s Scrypt ASIC seems to be too good to be true...
What am I missing here? What am I not considering/do I not know about?
Is it difficulty that this calc lacks?
I feel like there is a logical flaw in all of this that I do not have the knowledge to know, but there is one present.
I am looking for a ROI. Not necessarily a HUGE one, but nice money on the side.

Thanks! Sorry if this is confusing/makes no sense...
It makes sense to my novice mind.
4  Bitcoin / Mining speculation / SHA256 Mining for a beginner... Worth investing in? How to calculate? on: September 18, 2014, 09:07:08 AM
Hey all,

So I am looking to get in to mining...
A little late to the party...

One of my buddies started. Invested a little over 2 grand and racked up 1 BTC in about a month.
This is going to decline steadily and quickly from what I have read.

I understand difficulty goes up over time, and that seems to make it very difficult to actually calculate a ROI.

I was looking at SHA256 profitability on CoinWarz.

Oh, a preface... My rent includes electricity. So no matter how high, my rent doesn't change. Grin

Now if I purchased a SHA256 ASIC, lets say a comprable price with the Antminer S3+ 453 GH/s, $630 (ASIC, Pi, & PSU) and a 2% pool fee
TEKcoin: 96.65 days to break even, 68.24 for 1 BTC
BTC: 185.44 days to break even, 130.94 for 1 BTC.
So let's say I went with TEKcoins,
and got a 1 TH/s ASIC ($1000)
I'd be looking at 69 days to break even, 30.91 for 1 BTC.

What am I missing here? What am I not considering/do I not know about?
Is it difficulty that this calc lacks?
I feel like there is a logical flaw in all of this that I do not have the knowledge to know, but there is one present.
I am looking for a ROI. Not necessarily a HUGE one, but nice money on the side.

Thanks! Sorry if this is confusing/makes no sense...
It makes sense to my novice mind.

*edited to remove altcoin questions*
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