Some newbie questions about ASIC mining

[tugaware]

First of all, hi. i new to these world and i would like some guidance in the beginning.

Well i started mining on my mac on 6970m getting about 170MH/s and thought that it was a lot. Lol how i fouled myself. I was gaining about 0.5 cents an hour(using 1bt = 100eur). I thought that this doesn't cover up the electricity i was using it, so i decided do search some more. I found the ASIC mining and a lot of vantages in it.

I found some nice projects using ASIC one of them being on this forum (https://bitcointalk.org/index.php?topic=283992.0) and was intrigued about the performance of that miner. After some math, using my graphic card as reference, i found that i could earn about 10bt with 47GH/s in a month.

I wanted to know if the more experienced guys out there are getting the same results before I adventure on this level of mining since it requires investment.

Thanks at least for reading this threat and if someone could help would be great.

[vaio127]

ASICs are pretty nice to have no doubt.  However, it's important to tone down your expectations a little and look at the exponentially rising difficulty.  The same ASIC that could earn 10 btc in a month today, might have a hard time earning even 1 btc in a month a few months from now.

[tugaware]

Yeah. I know that the future is unsure and it maybe couldn't get any work in the coming months. That why I'm asking some some expertise on the subject. I would like to get some bt from mining. And for the prices I've searched this is the cheapest (about 6bt) for that kind of power. Doing the math i could break even in less than 20 days if i could get work.

So you raised a nice question.
Picking up the math from the first post i could break even in less than 20 days. I think that pretty sweat since from the little I read it usually take guys 4/6 months to break even

So how long you guys think i could break even? From an experienced point a view.

[EzCheese]

Right now if you are in the single digits (Ghz) it's still possible to make an ROI, but honestly, after about a month of searching there isn't much out there.  Everyone is trying to re-sell at crazy prices, no one is shipping and if they are it's not going to matter in a few months (usbminers, blades, jollys/singles) if knc miners hit the public as difficulty will skyrocket very fast.

Yeah. I know that the future is unsure and it maybe couldn't get any work in the coming months. That why I'm asking some some expertise on the subject. I would like to get some bt from mining. And for the prices I've searched this is the cheapest (about 6bt) for that kind of power. Doing the math i could break even in less than 20 days if i could get work.

So you raised a nice question.
Picking up the math from the first post i could break even in less than 20 days. I think that pretty sweat since from the little I read it usually take guys 4/6 months to break even

So how long you guys think i could break even? From an experienced point a view.

[tugaware]

I know that this thing is going to boom like hell. I just wanted to know if buy 47GHs for 600 euros with taxes was a good deal to start with ASIC. I see usb doing 230MHs for 50 euros, so i though to bet large for the first time(i can only buy one)

Also I noticed some new models pro messing 600GHs but for 6k which is a little more than I can buy.

[odolvlobo]

This page is very helpful in figuring out what hardware is available and what it can do. Keep in mind that delivery dates are a huge factor.

http://mining.thegenesisblock.com/

[monbux]

You figure you could earn that much?  Did you think about the difficulty increasing dramatically?

[J35st3r]

Delivery time is the key to making ROI, and unfortunately there are so many people ahead of you in the queue that by the time your mining gear arrives it will be making a fraction of your desired earnings. Just read some of the threads in the Custom Hardware forum. BFL and Avalon have given their customers horrible experiences. Bitfury and KNC are yet to deliver, but have large order queues (all to be delivered before yours). Only ASICMiner has product available for immediate delivery, and they are milking their customers on price.

Its a Gold Rush guys. Only the shovel sellers are making any money, the miners are just scrabbling for dust.

[Peping]

I wanted to join a group buy of a hashfast babyjet here, but I'm not so sure now. I wanted to spend the money from my summer job all on bitcoin. I still think it's a good idea to just exchange it for btc and redeem it later with the prices rising so fast.

[tugaware]

Ok thanks guys. Since this is booming like hell its no time for invest and the companies cannot respond to the demand in time. Its very risky to do this. Ill try another time then. And thanks monbux for adverting about the difficulty rising so fast in the next few months.

[DeathProxy]

BTC mining is unpredictable. The difficulty can skyrocket anytime and your calculations will be useless. You can still make roi If you have those 600ghs beast