NEWBIE AT MINING

[rsmalley7688]

Hey all I just staarted mining with my Gridseed ASIC 10 Ghs and am wondering if the 170 i paid for it was a waste or should I stay in for the long haul for my plan to buy a 1 Ths rig. within 2 days i have earned 0.00024 BTC

[notlist3d]

Hey all I just staarted mining with my Gridseed ASIC 10 Ghs and am wondering if the 170 i paid for it was a waste or should I stay in for the long haul for my plan to buy a 1 Ths rig. within 2 days i have earned 0.00024 BTC

If its 10 GHs on bitcoin then yes 170 is very very high.  Machines such as S3, Dragon, etc are FAR cheaper per GHz.  Do ROI math but your better off in most cases with a bigger machine.   Price per GHs is normally cheaper.

[ObscureBean]

These days 10 GH is too little for meaningful BTC mining. However if you don't have to pay the energy bill, I guess you could still rake in whatever you can. One thing you can do though is  keep an eye on new SHA coins coming out. If the project looks good, it might be worth it to mine the coin in the early days, your 10 GH/s would be powerful enough to bring you some coins.

[odolvlobo]

Hey all I just staarted mining with my Gridseed ASIC 10 Ghs and am wondering if the 170 i paid for it was a waste or should I stay in for the long haul for my plan to buy a 1 Ths rig. within 2 days i have earned 0.00024 BTC

You tell us. Surely, you have done the math. You wouldn't buy a magic money-making machine without knowing how much money it will make would you?

[bitkilo]

I have just been offered a rockminer rbox 32gh/s asic for 0.0960 btc and i'm trying to work out if that's worth it, what you got sounds expensive to me.
Im not in it for the money though, just want to see how the mining side of bitcoin works for a few weeks.

[Loophole]

Hey all I just staarted mining with my Gridseed ASIC 10 Ghs and am wondering if the 170 i paid for it was a waste or should I stay in for the long haul for my plan to buy a 1 Ths rig. within 2 days i have earned 0.00024 BTC

You tell us. Surely, you have done the math. You wouldn't buy a magic money-making machine without knowing how much money it will make would you?

Exactly. You should do the research, or to the least ask the profitability question here before you buy the miners.

Assuming the difficulty will go up 10% each time, that 10 GH/s will bring you about 0.024 btc at the end of 2015.
So even if you have free electricity, you will get way less bitcoin than you could have bought with your $170.
https://bitcoinwisdom.com/bitcoin/calculator