newbee miner advice on 60GH

[Ford]

i know next to nothing on mining, but a friend is looking at buying this:
http://www.ebay.co.uk/itm/like/221330849369?hlpht=true&ops=true&viphx=1&limghlpsr=true&lpid=101&device=c&adtype=pla&crdt=0&ff3=1&ff11=ICEP3.0.0&ff12=67&ff13=80&ff14=101

he knows less than i do.......

Would the above still be "good equipment" for mining with todays difficulties??
would he still need to be part of a pool, or is this good enough to mine on its own?
Any idea about return on this investment and how long this will be good enough to mine coins for?

Thanks
Ford

[railzand]

complete waste of money. if he's got that much he should buy bitcoins maybe next week and hold

[Ford]

complete waste of money. if he's got that much he should buy bitcoins maybe next week and hold

Thanks for the reply!!

Can you explain briefly as to why it is a wast of money?
Or briefly what is the best way to mine currently.
The reason he wants to mine is partly as an investment, partly out of a new found passion, partly to contribute to helping the bitcoin network.

Thanks!
Ford

[railzand]

look I'm no expert. all I know is a good or a bad deal.

firstly ebay is considered an expensive place to buy mining gear, some might say a rip-off

you need a much better £ to Gh/s rate than that, and that's really hard to find, you can hardly go out and buy a worthwile miner today

bitcoin mining is now a very rich or very lucky man's game

there are some risky bets he could make on miners being delivered in the months to come

if he's desperate to mine there's this: gpu mining will still just about work for a month or 2 ie make investment back in 2-3 months:

buy 15 7970's and associated pci-1 whatnots. point them at hashco.ws or mine for litecoins and sell those off for proper coins

that is far from guaranteed to make money

buying bitcoins for fiat helps the network, and so does running the full client, just don't keep your stash in it

sign shopkeepers up to accept bitcoin. sell crafts and trickets on a website with a discount for btc...

sorry brief this isn't. hth anyway

[Fiyasko]

Woahwoahwoah, Do not buy anything related to bitcoin hashrate off of ebay, YOU WILL GET BURNED
Also, B.F.L. has THE WORST customer statisfaction out there, Place an order today, and you get your stuff in 4-6 months

Don't buy GPU's to mine coins, You won't make a noteworthy ROI, the best you'll do is have the GPU's pay for themselves at the cost of product lifetime.
Right now buying mining gear for to generate bitcoins is a Gamble at best

Im running 17gh/s and i only generate $10/24hrs, the 17gh costed me $800 and uses only 35watts (no im not kidding)
You should do ALOT of research before purchasing mining gear.
BFL has a HORRIBLE track record of "doing things the right way" PSU bricks exploding and the likes... I wouldn't buy a BFL product even if it was 50% off.
The product is trash inside a nice case (like what Apple does with their Foxconn gear)

Look for Bitfury powered ASIC's mine are running GREAT.

[vpasic]

Stay away from BFL!
Stay away from ebay!
Right now there is no miners worth of buying!
Your best chance is to buy 2Th Black arrow late februar delivery.

[Fiyasko]

Stay away from BFL!
Stay away from ebay!
Right now there is no miners worth of buying!
Your best chance is to buy 2Th Black arrow late februar delivery.

If blackarrow is trustworthy that is...
Like i said, Buying mining hardware is a gamble at best

[BitcoinDenvini]

If you have access to free electricity, than you can buy gpu farm.