A hello from me and some random questions

[bmstalker]

Hi all,

I've had bitcoins on my radar for a year or so but never really looked into them.  With all the publicity recently I started to do some research into cryptos in general and came to a few conclusions.

As what would be a small time miner, bitcoins are not for me.  Would take me forever to mine anything as the difficulty is too high for the level Id be willing to invest in so I started to look at alt coins.  Had a look around and found betacoins which looked interesting to me.

I'm a bit of a geek so I have a good spec gaming PC sitting around so started to use my gpus (2x GTX670s) to mine some beta coins.  After a day or so I ended up with 5 and was disapointed with the progress, so I had a look around and a think.  I tried to mine some litecoins with the same setup and only managed a fraction of a coin after a day.

The plan I've came up with is to pick up a few USB asic miners (which seems to has a lot faster than £700 of graphics cards) and jump on each new coin as it comes out and mine if for a few days to a week.  After this, I'll just look at trading these coins around as the values rises to see what i can do.  The only cost I have is a few USB asic miners and the electricity.

What do people think of that?  Good plan/bad plan?

[Sberbank]

welcome

[xpansive]

Hi,

It will depend mostly on what USB ASIC miners you get. There are cheap 336 GH/s USB miners, there are the Red/Blue Fury USB miners rated at 2,6 GH/s that are apriced at around 180$ the last time I checked it out. I personally think thta if you don't have a lot of money to invest in ASICs and considering the current difficulty of Bitcoin, it would be difficult for you to get some profit. Do your numbers well before large investing in ASICs, there are plenty of calculators around the Internet you can use that take into account all the parameters you need to estimate if you will get some profit and when.

Cheers!

[dejikocv]

I have a doubt, seeing the difficult rising of BTC, is it not more cheap to buy some BTC instead of buying all the ASIC miners? That USB ASIC miners don't see to generate a lot of coins. So, you need some pretty months to recover the investment, and if the difficult continues increasing, it is more time.
Try to search some good BTC calculator, so you can see how much are going to generate in the future with the new difficulty.

[philolaus]

These are your competition - the BHP and RIO of BTC mining. Probably better to look at some of the other coins.

http://www.zerohedge.com/news/2013-12-25/trip-through-bitcoin-mines

[nazgul104]

Hi all,

I've had bitcoins on my radar for a year or so but never really looked into them.  With all the publicity recently I started to do some research into cryptos in general and came to a few conclusions.

As what would be a small time miner, bitcoins are not for me.  Would take me forever to mine anything as the difficulty is too high for the level Id be willing to invest in so I started to look at alt coins.  Had a look around and found betacoins which looked interesting to me.

I'm a bit of a geek so I have a good spec gaming PC sitting around so started to use my gpus (2x GTX670s) to mine some beta coins.  After a day or so I ended up with 5 and was disapointed with the progress, so I had a look around and a think.  I tried to mine some litecoins with the same setup and only managed a fraction of a coin after a day.

The plan I've came up with is to pick up a few USB asic miners (which seems to has a lot faster than £700 of graphics cards) and jump on each new coin as it comes out and mine if for a few days to a week.  After this, I'll just look at trading these coins around as the values rises to see what i can do.  The only cost I have is a few USB asic miners and the electricity.

What do people think of that?  Good plan/bad plan?

ASIC miners will help only if  the alt-coin you are trying to mine uses SHA-256 (same as the bitcoin) as they are designed specifically to do that. They will not be useful for coins using Scrypt....

just my 2 cents..