The Big Lebowski Needs Your Help

[DorianMakamoto]

Hey Dudes,

I'm tired of not jumping on the Bitcoin train to see what it's all about. I'm not to sure what I'm getting into but I feel I am in a good situation to try this out and possibly come back with some type of ROI that would be comparable to the difficulty of getting started.

Let me started out with THANK YOU! for any help I am newbie at your service,

Also, I have no IDEA what the F I'm doing and hopefully I don't anger any very smart trolls that may linger on these very forums.


I shall begin with my current situation, I just moved into a loft and electricity in this 20 story building is on the house for the first 2 years.

Understanding many of the costs in mining and what have you has boiled down to energy use I thought this may work in my favor for all the best reasons.

Was thinking about purchasing the Spondoolies SP35 YUKON which has a hash rate of 5.5 TH/s
http://www.ebay.com/itm/Spondoolies-SP35-Bitcoin-Miner-5-5-TH-s-BTC-/272012137413?hash=item3f552fd3c5


My first question is and I know will sound very dumb; Do I just plug it into the wall and let the baby fly or does it also have to be plugged into my laptop?

If so... will this make my computer run slow? Should I just buy another laptop specifically for plugging into the miner?

My second question is... I've heard of these Pools that I will be mining from.. If we're all sharing and sharing is definitely caring ,but if we're all sharing how many Bitcoins can I expect to mine per day/week/month on rough estimate

My third question is.. Do you have any advice for me, a brave hard nosed newbie miner with his eye set on the GOLDD SWEET GOLLD!!!!


If you we're able to get through all of this, thanks for any help or assistance truly and respectfully

Thanks!   

[deltalima]

Put your hash rate and power costs into

http://www.coinwarz.com/calculators/bitcoin-mining-calculator

to see what returns you will get

[deltalima]

So with free electricity you are looking at approx. 1.36 BTC per month, with this falling over time as the difficulty increases then dropping a further 50% next year when halving occurs.

[unholycactus]

My first question is and I know will sound very dumb; Do I just plug it into the wall and let the baby fly or does it also have to be plugged into my laptop?

If so... will this make my computer run slow? Should I just buy another laptop specifically for plugging into the miner?

My second question is... I've heard of these Pools that I will be mining from.. If we're all sharing and sharing is definitely caring ,but if we're all sharing how many Bitcoins can I expect to mine per day/week/month on rough estimate

My third question is.. Do you have any advice for me, a brave hard nosed newbie miner with his eye set on the GOLDD SWEET GOLLD!!!!


If you we're able to get through all of this, thanks for any help or assistance truly and respectfully

Thanks!   

1. Most ASICs only need need power and an internet connection and sometimes a power supply (included with the SP35). The first two is all you need for the SP35 (the product you're looking into buying). However, 4000 Watts is a lot and you should look if your power outlet is able to give that much.
Also, you'll have to setup your miner and pool account.

2. If you started mining right now, you should expect about 0.06BTC/day with one SP35.
This value will greatly go down over time if the mining difficulty follows its trend.

3. You should look into something more modest, I would personally buy one or two Antminer S5 with a good power supply.
Bitmain products (S5 is one of them) are more user-friendly and better for a "home" use.
You will have trouble reaching ROI if difficulty goes up really fast. I think it's too big of a risk to buy a SP35 right now, especially if you are new to this.
However, the last point is valid for any miner that you would want to buy.

If I wasn't clear enough or you have any other questions, I'll be happy to answer.