first rig

[Bl4ack H4wk]

For school i am supposed to build my dream computer with no more then 5k, can some one give me a link to the best mining rig (or rigs) possible for 5k.
Im also considering getting into bitcoin mining? is it to late to start? and if so will 700$ be enough.

[panda1]

For school i am supposed to build my dream computer with no more then 5k, can some one give me a link to the best mining rig (or rigs) possible for 5k.
Im also considering getting into bitcoin mining? is it to late to start? and if so will 700$ be enough.

$700 will get you a couple of BFL Jalapenos or one Little Single:

http://www.butterflylabs.com/products/

[mjc]

Better yet get yourself a Little Single, for $649 plus shipping its the most bang for the buck.

[Bl4ack H4wk]

i heard that those could be a possible scam

[Blazr]

i heard that those could be a possible scam

Yep, as they haven't released them yet, but once one of the ASIC manufacturers releases their product, then all other mining hardware will not be profitable due to the increase in difficulty.

[Bl4ack H4wk]

when is the expected ship? (sorry im a noob ) and no one can help me with 5k build

[Blazr]

when is the expected ship? (sorry im a noob ) and no one can help me with 5k build

When BFL announced it in July, the expected ship date was October 2012, so..... yeah.

Not sure what the new date is, but I wouldn't count on it being the actual day.

[Bl4ack H4wk]

so i should just wait on that to get into bit coin mining? and will they work with lite coins?

[Gotta go fast!]

Buy a BFL miner.

I have been told it does not work with LTC though.

[Blazr]

Yes it will work with Litecoins of course..

Nope, it definitely will NOT work with litecoins.

It only runs double sha-256 (the hashing algorithm for Bitcoin) and not Scrypt (the one for litecoin).

[Bl4ack H4wk]

ok thank you and will these be usable with raspberry pis?

[Gotta go fast!]

ok thank you and will these be usable with raspberry pis?

I think i've heard of people controlling rigs with those, but I'm not sure if it will work with the BFl Asic.

[Blazr]

ok thank you and will these be usable with raspberry pis?

Yes, thats what most people are using, you can run a couple of hundred ASIC's off one Raspberry Pi.

[mjc]

i heard that those could be a possible scam

BFL has been around, and sold a lot of other hardware.  there are a number of other vendors.  the worries over if it is a scam or not is likely to work itself out in the next few weeks.  So if you have not yet ordered, just wait until they are released.  You already missed the boat to get them when they are first released. 

Yep, as they haven't released them yet, but once one of the ASIC manufacturers releases their product, then all other mining hardware will not be profitable due to the increase in difficulty.

Even with the increased difficulty at 250 TH, two singles will still make 2 BTC /day.  The investment will be paid off in 4 months.   The only question is how soon will I get mine before the Hash Rate hits that mark?  Then, how long before it doubles again.  One other question, how high will the BTC/USD go?  We'll see.  So its not if they will be profitable, but when.

[Blazr]

BFL has been around, and sold a lot of other hardware.

They've sold a whole bunch of FPGA's, but they too their sweet time doing it. They company is only 3 years old as well, and only started shipping products this year.
The main worry with BFL is that the CEO is currently on probation for $25 million of mail fraud.

Even with the increased difficulty at 250 TH, two singles will still make 2 BTC /day.

Thats optimistic, look at how many pre-orders BFL has had, IIRC they went 6 figures in the first 2 days they announced the pre-orders, thats not including other ASIC manufacturers as well. Its going to be at least a 20x difficulty increase (400TH), probably closer to 40x. A 1 year ROI is more likely.