Advice for first mining rig

[campbell1987]

Hi all, i'm just starting to look into bitcoin mining and was wondering what would be a good first rig?? I seen the butterflylabs products and was wondering if they would work and are they any good.... Sorry for the noob question i just dont know were to start....

[dmb21]

ButterflyLabs ASIC is probably your best bet (I've got one on order), but it will probably be several months before you can get one.  They're not really shipping yet and have quite a backlog to get through when they do ship.  I'm not aware of any other viable ASIC vendors, and it would be silly (IMHO) to get anything but an ASIC at this point, so you're stuck waiting for them.

[campbell1987]

Thanks for the replay mate. So does this mean bitcoin prices will plummit once these start being sold, I seen like a 1GH/s GPU Mining Rig on ebay sell for like £1100 GBP so will these machines be pretty much useless once these butterfly labs products get released considering you could then buy a miner 50 times more powerfull for 50% extra cost, As i said before i am new so please forgive my second nooby question...lol.. How much bitcoins could be mined from say a 25GH\s butterflylabs miner per day??

[CryptoJunky]

Thanks for the replay mate. So does this mean bitcoin prices will plummit once these start being sold, I seen like a 1GH/s GPU Mining Rig on ebay sell for like £1100 GBP so will these machines be pretty much useless once these butterfly labs products get released considering you could then buy a miner 50 times more powerfull for 50% extra cost, As i said before i am new so please forgive my second nooby question...lol.. How much bitcoins could be mined from say a 25GH\s butterflylabs miner per day??

sorry not an expert on btc mining and a noob as well, but what does btc price plummet has to do with these machines starting mining? I don't see any connection? explain pls? ty

There shouldn't and hasn't been a huge price drop with the appearance of ASICs. If anything the price has greatly increased since the first ASIC, from Avalon ASIC, came online.

As far as how many Bitcoins will be mined by a miner...that's not really possible to say for sure

As more ASICs come online, the difficulty will increase meaning the number of Bitcoins you receive will decrease. The number of Bitcoins that are mined is pretty much fixed, meaning that more hashing power does not correlate to more Bitcoins produced.

[ManBearCoin]

Price drop?

BTC were less than $40 three months ago

I agree ASCI will only drive the price up and for all coins as people find it less profitable to mine bitcoins with GPU. However, people are not going to shut their GPUs off and put them away if they can still make a profit mining a coin like litecoin.

If anything litecoins are going to get a lot more difficult to mine as well with the increase in GPUs that formally mined bitcoins as more and more ASCI show up to mine bitcoins

[cixelsyddyslexic]

You've already found BFL, the other major option is getting into one of the Avalon group buy deals, whether you go Klondike boards or something else. There are tons of threads about them in the custom mining hardware subforum. https://bitcointalk.org/index.php?board=76.0