Like to know about BTC mining

[Zebra]

Mining bitcoins Is not worth your time and effort, It's hard to make profit from mining now days. Better buy bitcoins for those money that you had for mining rig, that's my advice.

From where i can buy Bitcoin? Do you have a recommendation?

I would personally recommend bitstamp and localbitcoins.
You can also use coinbase and bitsimple if you are in US.

[cahirlet]

Mining bitcoins Is not worth your time and effort, It's hard to make profit from mining now days. Better buy bitcoins for those money that you had for mining rig, that's my advice.

From where i can buy Bitcoin? Do you have a recommendation?

I would personally recommend bitstamp and localbitcoins.
You can also use coinbase and bitsimple if you are in US.

Bitcoin ATM are the best IMO. You just need a few seconds and it isn't that hard to use. Also, you don't have to wait longer for bank transfers. Another alternative is Virwox which accepts paypal and credit cards. However, fees are high and limits are lower.

[shorena]

Most of the replies on the forum on this subject, points to "No"

Have you ever wondered what someone would saym if you walked into the "Klondike" years ago, and you wanted to go stake your claim to get gold.

They would all tell you, it's not worth it.

Consider that "mining" any currency, comes with some competition, like in real world.

If the money is good, and there is limited amounts, you would lie, would you not?

But this is just my opinion, and I might be wrong.

I just do'nt believe anything I hear, when money is involved.

Proof is in the Bitcoins ;->

True, you shouldn't follow others' advice blindly.

You could use any mining profit calculators out there to check the profitability yourself.
Or, you could check the bitcoin wiki to understand how difficulty works and check the mining speculation section here to build your own profit calculator (could be done easily in Excel).

I am pretty sure all these will also point you to "No"

No, no, no. We are all still mining with our old laptops CPU/GPU and our 336MH/s ASICs USB Sticks and make loads of coins. But we dont want you to know this, so we tell you to stay away from mining, because "electricity" and "ROI" and all them fancy words.

</sarcasm>

[ejinte]

less that 1$/Ghz

That makes no sense. Even if you are talking about 1$/GHASH/s. 1$ for what? Electricity? Hardwarecosts? Shipping?

1$/GHASH/s in hardwarecost. Then you will probably get ROI right now.

[shorena]

less that 1$/Ghz

That makes no sense. Even if you are talking about 1$/GHASH/s. 1$ for what? Electricity? Hardwarecosts? Shipping?

1$/GHASH/s in hardwarecost. Then you will probably get ROI right now.

Dont know, maybe the machine eats 10TW/s and thats why its so cheap... Thats what I said. You have to consider several things when you want to calculate profit.

[cahirlet]

less that 1$/Ghz

That makes no sense. Even if you are talking about 1$/GHASH/s. 1$ for what? Electricity? Hardwarecosts? Shipping?

1$/GHASH/s in hardwarecost. Then you will probably get ROI right now.

Dont know, maybe the machine eats 10TW/s and thats why its so cheap... Thats what I said. You have to consider several things when you want to calculate profit.

Its hard to ROI even with $1/GH/S its unlikely for companies to ship such cheap asics. Its either a never coming preorder or a scam company. As you mentioned, there's alot of factors to consider about. Example, cooling, space,management, powercost. The ASIC might also be of a bad quality. Think twice before buying an ASIC miner.

[UNV - JAPAN]

BTC mining requires big investments:

https://bitcoinwisdom.com/bitcoin/calculator

[Nagato4]

Its hard to ROI even with $1/GH/S its unlikely for companies to ship such cheap asics. Its either a never coming preorder or a scam company. As you mentioned, there's alot of factors to consider about. Example, cooling, space,management, powercost. The ASIC might also be of a bad quality. Think twice before buying an ASIC miner.

Even if the seller is legit, it could still be unprofitable due to its effect to the network hashrate and difficulty.
If someone is able to produce and ship thousands of new-generation ASICs (with very high efficiency and very high hashrate), the difficulty could have doubled in 7 days lol.

[Daniel007]

I have also heard that BTC mining has become less profitable.So i am confuse about it. Should i start mining BTC or try in other cryptocoins?

[cahirlet]

I have also heard that BTC mining has become less profitable.So i am confuse about it. Should i start mining BTC or try in other cryptocoins?

1) Buy (Recommended)
2) Find a high efficiency ASIC from a trusted seller, try not to preorder it. (Guaranteed to make ROI)
3) Find alt coin. I wouldn't recommend this much since there are plenty of pump and dump coins.

[fdiini]

Mining is a high risk business.

Should do more research before committing your money into something you have no knowledge of.