Should I Buy used or new miners?

[Hash72]

Please do not buy any miners unless you are going to design a mining farms (Cost lots a mount of money).
Try to buy ,trade BTC for ALT. Thanks

[MaritiJames3]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

[Bazelak]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is bad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

[notlist3d]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is dad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

[Bazelak]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is dad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

For home miner, if the electricity price is less than 0.05/kwh, it is profitable to mine even after the halving.

[notlist3d]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is dad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

For home miner, if the electricity price is less than 0.05/kwh, it is profitable to mine even after the halving.

It would depend on the miner efficiency I think once having.  No way do I see say like 1T A1's still being profitable at .05 after having, unless there is a huge bump in value of btc.

With gear being so different you can't really make blanket statements like that.

[Bazelak]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is dad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

For home miner, if the electricity price is less than 0.05/kwh, it is profitable to mine even after the halving.

It would depend on the miner efficiency I think once having.  No way do I see say like 1T A1's still being profitable at .05 after having, unless there is a huge bump in value of btc.

With gear being so different you can't really make blanket statements like that.

with the present rate of increase of the difficulty, the S7 will not be profitable after halving.

[notlist3d]

Like hash72 said.

Don't buy any miners. The price is too high, while the difficulty will prevent you from making profit.
Either buy bitcoins directly or don't. Mining is dead.. for over a year now.

Mining is dad for high electricity price users. If your electricity is more than $0.2/kWh, it is better not to mine. Just buy/hold/use bitcoin.

I think your electicity price is more then what most should do.  At 20 cent's I would not mine on it just to high long term.  Only chance is to mine then sell gear pretty quickly.

I would really want 10 cents or less on electricity before attempting to mine.  And that is including all fee's and taxes.

For home miner, if the electricity price is less than 0.05/kwh, it is profitable to mine even after the halving.

It would depend on the miner efficiency I think once having.  No way do I see say like 1T A1's still being profitable at .05 after having, unless there is a huge bump in value of btc.

With gear being so different you can't really make blanket statements like that.

with the present rate of increase of the difficulty, the S7 will not be profitable after halving.

If true "free" users will have a heck of a lot of nice gear to run.  We don't know what difficulty will be like at having.   And just as important we don't know BTC price.

Your forgetting BTC price does play a part in mining.  We can hope it goes up, it is in no way guaranteed.  So I still think blanket statement's for most part are hard to do in mining, to many factors. 

[Duomo]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

[notlist3d]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

At that point is when you sell your gear to someone with lower electricity or "free" electricity.   The hope is the amount you mined + sell price is more then the miner and electricity spent.

Selling has become more and more common it seems.  I think mining will continue for those who enjoy it.  But if your looking for a get rich quick scheme mining is not that.   It is becoming longer and longer time to ROI.  I remember 3 month ROI on GPU's back a long time ago.  Mining evolves we will see that continuing.

[phreaky]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

Sadly this true. These days big mining companies run the mining game.
They and they online can make a profit with mining. Which means bitcoin is becoming more and more centralized.

[Bazelak]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

Sadly this true. These days big mining companies run the mining game.
They and they online can make a profit with mining. Which means bitcoin is becoming more and more centralized.

Mining will concentrated in the cheap electricity places. So it will not be concentrated artificially. It is driven by market force.

[notlist3d]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

Sadly this true. These days big mining companies run the mining game.
They and they online can make a profit with mining. Which means bitcoin is becoming more and more centralized.

Mining will concentrated in the cheap electricity places. So it will not be concentrated artificially. It is driven by market force.

Yes it's a free market and driven by people buying and selling as far as btc value.  Big farms have to play some part in it.  They mine and have cheap electricity and massive amounts of gear.

So you can count on them selling enough BTC to cover gear and expenses.   So I think big mines do play a factor in pricing.  But it's hard to say how much.

[Pollak]

I hate to say it and to be honest but the era of mining bitcoin is basically kind of over unless you have ridiculous amounts of money to spend to increase hash power after the difficulty. You should be aware that if you mine, at some point and time, your equipment won't secure you a decent rate of return on your investment. If you do mine, you should take into account the raising difficulty and the amount of money you can make on your equipment.

Sadly this true. These days big mining companies run the mining game.
They and they online can make a profit with mining. Which means bitcoin is becoming more and more centralized.

Mining will concentrated in the cheap electricity places. So it will not be concentrated artificially. It is driven by market force.

It the network is controlled by a group of party's then it is terrible.

@op
Don't that time is gone now. These days asic manufacturers just give you a small hope to get profit.
But in fact you won't, not in the current economic situation. Not now, not ever.

[QuintLeo]

Back to the original question, the BEST option is to buy local *IF*

(1) there are current miners available, AND
(2) the price is competative.

 *OR*

 (1) you have free electric, AND
 (2) the price is reasonably competative for what the unit is.



 What you should do first though is crunch the numbers with your electric rate and see if you have a reasonable chance to achieve payback BEFORE you buy, after factoring in for Difficulty Increases, YOUR electric cost, and the block reward halfing that will happen probably in mid-July 2016.


 It's still possible for a small miner to compete in Bitcoin mining with the big boys - *IF* you are in an area with very very low cost electricity.

 The next-gen gear might change that for a while, as it will allow for years to achieve RoI since there won't be anything noticeably more efficient available for years - but if enough of the new gear gets bought and brought online fast enough, we're back to the "gotta have VERY VERY cheap electric to make a profit" issue before someone in a higher-cost electric area can achieve RoI.

[vrm86]

Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
 

[notlist3d]

Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
 

But some with higher to normal buy machines and when it's unprofitable for them they sell it.  But they sell it and free to cheap can buy and still have a chance at some more time running.

Most miners I think will end up with multiple owners I think during the miner's life.

[Amph]

Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
 

not really, maybe he has bad electricity to sustain the mining in his house, but if you have a cheaper electricity than him it can still be profitable for you

so it depend, certainly i would pay far less if it is used, not like the beginning where many were buying at even higher price than the new

[vrm86]

Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
 

not really, maybe he has bad electricity to sustain the mining in his house, but if you have a cheaper electricity than him it can still be profitable for you

so it depend, certainly i would pay far less if it is used, not like the beginning where many were buying at even higher price than the new

Used mining gear is usually totally overpriced. You can even find 0,3GH USB block Erupters for about 25$. Offers with fair price are the minority of the second-hand market.
Of course, you can consider doing the same thing - selling your gear with the price 2-3x of it's real value, and consider this income as a part of ROI

In general, recently released devices are more energy efficient and then profitable, than their predecessors. It will be ideal situation, if you could buy used miner right after introducing, for the price lower than you would pay for a new one. The longer you wait to get even recent model, the less time you have to make an ROI.

[notlist3d]

Get brand new, most efficient miners available. If someone is selling his used device, it most likely means that it's becoming unprofitable.
 

not really, maybe he has bad electricity to sustain the mining in his house, but if you have a cheaper electricity than him it can still be profitable for you

so it depend, certainly i would pay far less if it is used, not like the beginning where many were buying at even higher price than the new

Used mining gear is usually totally overpriced. You can even find 0,3GH USB block Erupters for about 25$. Offers with fair price are the minority of the second-hand market.
Of course, you can consider doing the same thing - selling your gear with the price 2-3x of it's real value, and consider this income as a part of ROI

In general, recently released devices are more energy efficient and then profitable, than their predecessors. It will be ideal situation, if you could buy used miner right after introducing, for the price lower than you would pay for a new one. The longer you wait to get even recent model, the less time you have to make an ROI.

Some keep those up as collectors though.   There are some who have collected every color on block erupters for fun.   I did not do it on them but I did on compacs try to get every main version.  So I can understand the collecting for fun.

If you look at bigger miners they don't have the collectors.   Some of the bigger miners have decent price.  But price on ebay is always higher then here on forums.  So it also depends on where you are looking at.