Should I mine bitcoin, or an altcoin?

[phoenixsilverbird]

I have been mining on a low scale recently.

I am looking to purchase an Antminer S1 for BTC mining but I hear loads about it being non profitable.

Would my money be better spent on an ASIC scrypt miner, for me to mine Litecoins?

[Ron~Popeil]

There are sites that you can check mining profitability for most coins. coinwars.com seems to be the most reliable.

[m3]

if you got tons of cash to spend buy a terraminer and sit back and relax. If not, then buy Grid ASICS and mine Litecoin. That is the simplestm shortest answer I can give you

[Ron~Popeil]

I have been mining on a low scale recently.

I am looking to purchase an Antminer S1 for BTC mining but I hear loads about it being non profitable.

Would my money be better spent on an ASIC scrypt miner, for me to mine Litecoins?

i say your money is better spent buying coins rather than mining gear. there are some really interesting altcoins out there that are/will be powerful platforms on which you can build an entire decentralized financial ecosystem. mining imo is a complete waste unless you have shit tons of money to put in. mining gear is going out of date much faster now. and will continue to go out of date faster as the race to have more powerful gear at a lower price than the next guy continues.

After a very short experiment with mining I am inclined to agree. With buying bit coin you don't have the race against rising difficulty and an ever increasing electricity bill.

[ShakyhandsBTCer]

I have been mining on a low scale recently.

I am looking to purchase an Antminer S1 for BTC mining but I hear loads about it being non profitable.

Would my money be better spent on an ASIC scrypt miner, for me to mine Litecoins?

i say your money is better spent buying coins rather than mining gear. there are some really interesting altcoins out there that are/will be powerful platforms on which you can build an entire decentralized financial ecosystem. mining imo is a complete waste unless you have shit tons of money to put in. mining gear is going out of date much faster now. and will continue to go out of date faster as the race to have more powerful gear at a lower price than the next guy continues.

After a very short experiment with mining I am inclined to agree. With buying bit coin you don't have the race against rising difficulty and an ever increasing electricity bill.

Your electric bill should not increase over time. After your first full month of mining your electric bill should stay the same. The only reason your electric bill would increase would be if you were continuously adding mining capacity to your mining farm.

Both BTC and scrypt based mining have their profitability (in terms of both fiat and BTC) decreasing rapidity over time.

[LiteCoinGuy]

I have been mining on a low scale recently.

I am looking to purchase an Antminer S1 for BTC mining but I hear loads about it being non profitable.

Would my money be better spent on an ASIC scrypt miner, for me to mine Litecoins?

i guess you can still mine Litecoin woth normal hardware

http://www.cryptobadger.com/2013/04/build-a-litecoin-mining-rig-hardware/

[james martin]

The price of the Litecoin (LTC) remaining pretty low, but quite stable lately, if you buy a Scrypt ASIC for mining LTC and do the math with the current prices and hahsrates you will not like the result. The time to break even with the smaller Scrypt ASICs ranges from never to an year or two maybe and only the top-end $10K USD systems that are supposed to start shipping in a month or two may eventually manage to get you a quicker ROI.

[Ron~Popeil]

I have been mining on a low scale recently.

I am looking to purchase an Antminer S1 for BTC mining but I hear loads about it being non profitable.

Would my money be better spent on an ASIC scrypt miner, for me to mine Litecoins?

i say your money is better spent buying coins rather than mining gear. there are some really interesting altcoins out there that are/will be powerful platforms on which you can build an entire decentralized financial ecosystem. mining imo is a complete waste unless you have shit tons of money to put in. mining gear is going out of date much faster now. and will continue to go out of date faster as the race to have more powerful gear at a lower price than the next guy continues.

After a very short experiment with mining I am inclined to agree. With buying bit coin you don't have the race against rising difficulty and an ever increasing electricity bill.

Your electric bill should not increase over time. After your first full month of mining your electric bill should stay the same. The only reason your electric bill would increase would be if you were continuously adding mining capacity to your mining farm.

Both BTC and scrypt based mining have their profitability (in terms of both fiat and BTC) decreasing rapidity over time.

I could have worded that part better for sure. A higher electricity bill was my meaning. A higher bill and less of a return every two weeks kinda puts you behind the 8 ball from the moment you place your order.