Bitcoin Forum
May 23, 2024, 03:53:10 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Need advice on mining  (Read 475 times)
dsf190 (OP)
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
November 30, 2013, 07:33:36 PM
 #1

I am about to buy a miner and I need to know everyone's opinion on what miner I should buy.  I can buy either the TerraMiner IV (march batch) which mines at 2TH/s for $6,000.  Or I can buy the Black Arrow Prospero-X (end of feb) at 2TH/s for $4,899.  What do you guys think?  Will 2TH even be profitable in February or March?
Thanks for your opinions!
TookDk
Legendary
*
Offline Offline

Activity: 1960
Merit: 1062


One coin to rule them all


View Profile WWW
November 30, 2013, 07:37:42 PM
 #2

My opinion is that "time to market" is everything in that biz - the faster you can get to the market, the better the revenue.
Have you taken the difficult change into you calculations?

Cryptography is one of the few things you can truly trust.
dsf190 (OP)
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
November 30, 2013, 07:44:06 PM
 #3

That is exactly what I was concerned about.  According to http://www.vnbitcoin.org/bitcoincalculator.php , the difficulty february 1st will be 2,379,795,897.

According to http://www.alloscomp.com/bitcoin/calculator , the daily mining reward will be 0.42264676 BTC and at the current exchange rate, that would be $476.09 a day, only needing 12 days to break even.  However, who knows what the difficulty level will actually be in February and who knows what the exchange rate will be.  This is why I'm concerned with investing into mining.
Sharky444
Hero Member
*****
Offline Offline

Activity: 724
Merit: 500


View Profile
November 30, 2013, 08:02:48 PM
 #4

The problem is that if you order a state-of-the-art-miner you can be 90% sure that you will not get it in the week/month promised. It's not unusual to pay first, expect the miner to be delivered in 2 months, but get it 6 or even 12 months later. So be very careful here. The difficulty increase is very hard to predict.

Radix - just imagine
restart32
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
November 30, 2013, 08:09:17 PM
 #5

Yep, all the ASIC providers like butterfly are very inconsistent with their promised orders. If I were you I would invest that money in cloud mining so you get to use it like right now.
TookDk
Legendary
*
Offline Offline

Activity: 1960
Merit: 1062


One coin to rule them all


View Profile WWW
November 30, 2013, 08:15:16 PM
 #6

I agreed with all that is already stated. The time-to-marked is everything.
There are no guarantee for delivery.

Have you considered to buy shares in mining rigs?
In that way you can even out the risk by buying different types of shares.

Cryptography is one of the few things you can truly trust.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!