Beginner miner need advice please

[Bitcoin@Majin]

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.

[Amph]

with cloud mining roi is 5 months, best one are now bit-x and hashnest because you can resell your power(don't know about hashnest), the only problem is that there is no enough volume for 6500 to be invested

with physical HW you need to buy s5 antimer, the on the market right now, or wait for the new model with a 1.45 more in efficiency(s6 and s7)

their are both equivalent, the main difference is the electricity cost for physical HW and its maintenance

[notlist3d]

I personally like to by hardware, but summer is coming so you need to be prepared for heat.  What is your electricity price? We can tell a lot with this.

Also my advice on buying or mining, is start slow and build up.   Don't throw all your money at once to one thing.

[Bitcoin@Majin]

Ok this is very useful and I just might go with cloud mining considering electric cost/maintenance. how much hash power would be needed to start out? since I would like to take the advice of starting low.

[notlist3d]

Ok this is very useful and I just might go with cloud mining considering electric cost/maintenance. how much hash power would be needed to start out? since I would like to take the advice of starting low.

Cloud mining is risky.  Only one I have done is hashnest (just a small amount).  Be very careful with cloud mining as a lot are ponzi, or just shutdown one day and run with money.

I could be jaded but I personally like hardware and get it hosted compared to cloud option.

[Bitcoin@Majin]

I understand the risk and the possibilities but due to me being busy at work it would be harder for me to maintain the hardware causing me to lose out money if something goes wrong and has anyone heard of Genesis Mining?

[jonnybravo0311]

Spondoolies partners with Genesis Mining, so there's at least known hardware there.  Their prices are a bit higher than others, though.
HashNest/Umisoo are Bitmain.  Like SP-Tech, you know there's actual hardware behind the cloud.

Purchasing your own hardware and having it hosted in a professional datacenter is an option as well.  You buy the hardware and have it shipped to the datacenter.  They usually charge you based upon a rate of electricity consumption (i.e. something like $90/kWh/month - I made that number up, each provider has their own rates).

Do some looking around and see what appeals to you the most.  As has been mentioned, be very careful with cloud mining operations that seem too good to be true, because chances are exceptionally good that they are .

[Bitcoin@Majin]

If I had the money I would like to set up a solar panel rig.

[notlist3d]

If I had the money I would like to set up a solar panel rig.

The thing is cheap electricity beats solar.   To pay off solar is going to take a while.  It's not a short time period ROI item.

So as far as mining your better off with cheap electricity, unless you are really really long term.

[Bitcoin@Majin]

Well I got ASIC Block Erupter just to start off and work my way up.

[philipma1957]

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.

You can buy from this guy in China.  buy 1 to start


https://bitcointalk.org/index.php?topic=934581.0


he has been pretty honest guy for more then 1 year (1 year is very long in the world of  crypto-coins)


at the end of the thread there are a few selling the gear.


https://bitcointalk.org/index.php?topic=934581.msg11043565#msg11043565

I had 4 and sold them off.

https://bitcointalk.org/index.php?topic=934581.msg10789950#msg10789950

[Amph]

If I had the money I would like to set up a solar panel rig.

solar pannels need a very long time to roi, they need maintanance too and they have cost, they aren't free like many think

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.

You can buy from this guy in China.  buy 1 to start


https://bitcointalk.org/index.php?topic=934581.0

https://bitcointalk.org/index.php?topic=934581.msg10789950#msg10789950

that's interisting, since i'm interested as well at some cloud mining with a relatively big investement

[Bitcoin@Majin]

Hmmm very interesting I might check this guy out for hosting.

[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

[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.

[Snipe85]

The guy said he has $6k and you're already trying to drag him into cloud mining. Maybe before he decides somebody should show him the list of cloud offers that went bankrupt in the last 12 months or turned out to be scams. Even the ones like PB that was running for a year without problems was a scam.

[notlist3d]

If I had the money I would like to set up a solar panel rig.

solar pannels need a very long time to roi, they need maintanance too and they have cost, they aren't free like many think

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.

You can buy from this guy in China.  buy 1 to start


https://bitcointalk.org/index.php?topic=934581.0

https://bitcointalk.org/index.php?topic=934581.msg10789950#msg10789950

that's interisting, since i'm interested as well at some cloud mining with a relatively big investement

I would go with Mr. Lee all day verse a cloud mining service.   

It meats the requirement for me of owning the hardware.  I really think hosting is much better then cloud mining.

[mrhelpful]

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.

[notlist3d]

I normally would say mine and get miners.

But with BTC so low I would slowly start buying a little BTC practice cold storage.  Wait till it goes up some then buy the miners with btc after the price rises again.

[Stratobitz]

I would recommend hardware. If you time your purchase / and sale of your equipment (always staying current generation; selling off current gen at the right time) - ROI is certainly possible.

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

Keep the original packaging.

Miners are pretty easy to sell. As for what I would buy now if I was in the mining game (currently out for a while) - I'd grab some S5s. I just sold my 24 units - they were great.

Strato