Beginner miner need advice please

[notlist3d]

You also can leave your setup in place, all your PSUs PDUs, etc - and just swap out the boxes.

This is really good advice.  It really cut's down on cost of new miners when you have PSU especially.   

Also makes it easy to put in new gear.

[Stratobitz]

You also can leave your setup in place, all your PSUs PDUs, etc - and just swap out the boxes.

This is really good advice.  It really cut's down on cost of new miners when you have PSU especially.  

Also makes it easy to put in new gear.

Its what we did. Honestly- for a new setup; Time really needs to be considered as well. Time is money. And it will take more time than one thinks getting a farm or even simple setup up and running.

Once the basic infrastucture is in place; the boxes them selves are pretty much plug and play. But the CAT5, Power Considerations, Heat Exhaust/Cooling Considerations, Noise, PSUs, PSU Cables; Shelving; Your Proxy Server (which you really should run - not running your own Stratum Proxy Server is cutting yourself short); all of that, takes so much time.

So timing your ins and outs of hardware - even if it means there are periods of vacancy... is very important.  Treat it as a house you rent. Factor 10% Vacancy - where you are out of the old and waiting on the new. It will improve your ROI considerably.

Strato

[Bitcoin@Majin]

You take the $6k, and hold it in cash. Put it into a money market account or something similar that has a established a 1% yield, then come back with the profit to buy bitcoin.

You never want to spend a huge principal just for a gamble, hoping to go up cause what if it doesnt? can you read the future? despite the bitcoin events etc.

What bank offers a annual yield at 1%?

[notlist3d]

You take the $6k, and hold it in cash. Put it into a money market account or something similar that has a established a 1% yield, then come back with the profit to buy bitcoin.

You never want to spend a huge principal just for a gamble, hoping to go up cause what if it doesnt? can you read the future? despite the bitcoin events etc.

What bank offers a annual yield at 1%?

It definitely is not my savings account I know that.  I think there are some legit web banks that offer higher savings accounts though.

And always make sure you pick one that is FDIC insured.   That is VERY important.

[RussianRaibow]

I wanted to know if investing in cloud mining at about 15th would be profitable in a year's time? or if not what hardware could I use as far as efficiency with lots of hashing power to start mining i'm estimating using maybe $6,500 if I were to buy hardware or go with cloud mining. Thanks for reading and all replies are welcome.

The best option one has right now is www.CloudMining.website which is verified by third party to deliver ROI within 114 days...



Source: http://www.cmmonitor.com/24-cloudmining-website.html

They provide payment proof of last five month as well: www.cloudmining.website/payments.php

Can you show some proof of the 3rd party.   I just find it hard to believe a legit site would guarantee it within a certain amount of days.   So much could happen it seems like a promise they cant guarantee.

I have magnified the 3rd party proof in my quote.

[notlist3d]

I wanted to know if investing in cloud mining at about 15th would be profitable in a year's time? or if not what hardware could I use as far as efficiency with lots of hashing power to start mining i'm estimating using maybe $6,500 if I were to buy hardware or go with cloud mining. Thanks for reading and all replies are welcome.

The best option one has right now is www.CloudMining.website which is verified by third party to deliver ROI within 114 days...



Source: http://www.cmmonitor.com/24-cloudmining-website.html

They provide payment proof of last five month as well: www.cloudmining.website/payments.php

Can you show some proof of the 3rd party.   I just find it hard to believe a legit site would guarantee it within a certain amount of days.   So much could happen it seems like a promise they cant guarantee.

I have magnified the 3rd party proof in my quote.

If you add up the price you get 1T for 1 BTC.  And it does not mention electricity, or fees.  They show the length is a year long.

1T for 1BTC with no fees or electricity is ponzi/scam level payment.  No one can run this cheap.

[GingerAle]

don't cloudmine. Get your own miner. Decentralization woot woot.

[Amph]

don't cloudmine. Get your own miner. Decentralization woot woot.

you mean solo mining(that i find it pointless unless you control something like 1% of the net) because mining in a pool is the same thing as cloud but without the physical HW, so you are still "centralized"

[notlist3d]

don't cloudmine. Get your own miner. Decentralization woot woot.

you mean solo mining(that i find it pointless unless you control something like 1% of the net) because mining in a pool is the same thing as cloud but without the physical HW, so you are still "centralized"

It's going to be very few I would agree who can solo mine.  Mostly asic hardware makers,and a few big operations.

For us hobby miners we really need a pool.  If it was not for pools, most of us would never get an BTC and lose lots of money.

[GingerAle]

don't cloudmine. Get your own miner. Decentralization woot woot.

you mean solo mining(that i find it pointless unless you control something like 1% of the net) because mining in a pool is the same thing as cloud but without the physical HW, so you are still "centralized"

It's going to be very few I would agree who can solo mine.  Mostly asic hardware makers,and a few big operations.

For us hobby miners we really need a pool.  If it was not for pools, most of us would never get an BTC and lose lots of money.

Yeah, my actual advice for a noob might get me booed from the stage, but you can figure it out from my signature.

Also, you can still find bitcoin pools small enough where you don't feel "centralized". I was on btcdig for a while, but I've moved to one of the solo mining pools. Might as well play the lottery instead of waiting months for a 0.00 whatever payout.

[notlist3d]

don't cloudmine. Get your own miner. Decentralization woot woot.

you mean solo mining(that i find it pointless unless you control something like 1% of the net) because mining in a pool is the same thing as cloud but without the physical HW, so you are still "centralized"

It's going to be very few I would agree who can solo mine.  Mostly asic hardware makers,and a few big operations.

For us hobby miners we really need a pool.  If it was not for pools, most of us would never get an BTC and lose lots of money.

Yeah, my actual advice for a noob might get me booed from the stage, but you can figure it out from my signature.

Also, you can still find bitcoin pools small enough where you don't feel "centralized". I was on btcdig for a while, but I've moved to one of the solo mining pools. Might as well play the lottery instead of waiting months for a 0.00 whatever payout.

Yea I wont touch you sig.  I think personally BTC price is so low I would go for it.  Monero is a lot more risky.

But on doing a "lottery" how much hash are you throwing twords it?

[GingerAle]

don't cloudmine. Get your own miner. Decentralization woot woot.

you mean solo mining(that i find it pointless unless you control something like 1% of the net) because mining in a pool is the same thing as cloud but without the physical HW, so you are still "centralized"

It's going to be very few I would agree who can solo mine.  Mostly asic hardware makers,and a few big operations.

For us hobby miners we really need a pool.  If it was not for pools, most of us would never get an BTC and lose lots of money.

Yeah, my actual advice for a noob might get me booed from the stage, but you can figure it out from my signature.

Also, you can still find bitcoin pools small enough where you don't feel "centralized". I was on btcdig for a while, but I've moved to one of the solo mining pools. Might as well play the lottery instead of waiting months for a 0.00 whatever payout.

Yea I wont touch you sig.  I think personally BTC price is so low I would go for it.  Monero is a lot more risky.

But on doing a "lottery" how much hash are you throwing twords it?

110 gh/s. Yeah, laughable