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Min3Er
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June 18, 2013, 05:05:54 PM
 #1

Hello. I would like to start mining, but I am lost where to start.

I was thinking about buying an ASIC miners, but will they be profitable enough to get my investment back and make profit?

Also which service (Europe) would be best for me to get ASIC miners as soon as possible? I would need chips + full assembly service.

Thanks.
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mitty
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June 18, 2013, 05:12:49 PM
 #2

Your first question is pretty much the same one everyone else is asking (and no one really has an answer to).

As for ready-to-ship ASIC miners; ASICMINER Blades (currently limited quantity available via resellers) and ASICMINER USB Block Erupters (readily available) are the only ready to buy/new options.  Of course you can buy someone's used miner on eBay or through the forums but be expected to pay a huge premium.

ASICMINER Blades are being sold by members blackarrow (2 left) and dogie has a private buyer/seller list which might get you one cheaper than retail.

ASICMINER USB Block Eruptors are sold from the manufacturer in quantities of 50 or more but there are various group buys if you want lesser quantities. (probably in the Mining/Hardware/Group Buys forum)

And for the others (BFL, Avalon, Avalon Chips, Klondike, I think there's also some Russian one?) it's anyone's best guess as to when they'll ship.  Avalon chips are supposed to be shipping in the July-August timeframe so maybe we'll see more miners available then. 

ASICMINER also announced that they have new and improved (and cheaper) blades available near the end of this month/early July timeframe.
BitcoinBarrel
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June 18, 2013, 05:40:56 PM
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Everyone has been saying since the beginning that mining is not profitable and you'll never pay for your hardware, but who knows how high the value of Bitcoin will go. If you want to try it out then start by setting up a CPU miner on your computer. Then try GPU mining if you have a decent graphics card. If you're still having fun then invest in a better rig. You might not ever make a profit, but it is an enjoyable hobby at the least.



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GaiusMaximus
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June 18, 2013, 10:42:22 PM
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another question,  will a 1000w psu be good for running a KnC Jupiter?
mitty
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June 19, 2013, 11:35:10 AM
 #5

another question,  will a 1000w psu be good for running a KnC Jupiter?
I think that's putting the cart before the horse. Wink
Wait till the thing is released and then see what people are saying.

Example: BFL originally said their Single SC would use 60w but once they actually built one it ended up using about 5 times more.
mjc
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June 27, 2013, 05:18:30 AM
 #6

I wrote a blog entry to figure out how much you could earn factoring in Total Network Hash rate , your rigs hash rate and value of BTC.

http://bitcoinsbs.wordpress.com/2013/06/27/quick-math-what-will-my-mining-rig-bring-in/

If you can figure out what the hash rate will be when you get your equipment and make some predictions about what the value f BTC will be this might help you determine what your ROI will be.

Kindle : Bitcoin Step by Step (2nd Ed) : http://www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU
Kindle : Bitcoin Mining Step by Step : http://www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU
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wlwesq
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July 08, 2013, 12:24:33 AM
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Everyone has been saying since the beginning that mining is not profitable and you'll never pay for your hardware, but who knows how high the value of Bitcoin will go. If you want to try it out then start by setting up a CPU miner on your computer. Then try GPU mining if you have a decent graphics card. If you're still having fun then invest in a better rig. You might not ever make a profit, but it is an enjoyable hobby at the least.

There are an awful lot of people involved in mining, so I'd venture that some of those people think mining could be profitable. There are a number of BTC mining calculators out there (http://lmgtfy.com/?q=bitcoin+mining+calculator) that can give you a rough idea of how long it will take to recover your investment in hardware and the electricity you'll use.

The group at Ars Technica ran an experiment using a dedicated miner given to them by Butterfly Labs (one of very few ever seen in the wild). They made about $700 worth of BTC in two weeks. That's some nice money, but realistically very, very few people are going to see those kinds of returns.

That being said, I'm at least putting my $ where my mouth is; I'm waiting for two of the ASIC USB devices to show up. Running 660 megahashes ought to bring me a little coin (pun intended). But I'm not quitting my day job, that's for sure.
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July 08, 2013, 12:29:41 AM
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Quote
That being said, I'm at least putting my $ where my mouth is; I'm waiting for two of the ASIC USB devices to show up. Running 660 megahashes ought to bring me a little coin (pun intended). But I'm not quitting my day job, that's for sure.


yep about a Buck a day............ for the next 10 days

High Quality USB Hubs for Bitcoin miners
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