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Author Topic: Any suggestions on bitcoin mining  (Read 1922 times)
senyorito123
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January 12, 2016, 11:48:27 AM
 #21

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance
My suggestion is not to use cloud mining as most of them collapse after a short time, own mining hardware depends on your electricity cost and your budget planned to buy the mining rigs.

i think you're right. and also i need a lot of money for hardware mining.

what is your electricity? you can try to buy 1 single s7 and do fine with it, if bill cost is somehow acceptable, no need to invest big

it is a solar power generator that can carry around 5,000W. i'm planning to buy s7 but my money said no. 'coz if there will be a slight malfunction on the hardware i don't have enough money to repair it. so i better save more money and buy miner in the future.

in the future nothing will change, asic will be even more expensive, because they will come always with more hashpower and more efficiency

i suggested to buy only one, if it come with malfuction you can return it, to the owner, buy used only

thanks for the advice amph Cheesy i appreciate it. ok i better buy used miner. BTW where can i buy used miner?

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senyorito123
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January 12, 2016, 12:15:06 PM
 #22

miners transfer very low amounts of data! but they need low latency!

thanks.

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Lutzow
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January 15, 2016, 06:49:51 AM
 #23

i need a suggestion on btc mining. what is good? own mining hardware or cloud mining? thanks in advance

As for cloud mining there are a lot out there that simply scam investors but there are also those who are already tested like genesis and hashnest. The only problem I'm seeing with hashnest is that the market brought down the prices of hashes as more people are getting out of it due to increase in difficulties. So if you're planning to sell your newly bought hashes after a month, expect the price to be half of it or so.

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January 15, 2016, 07:30:08 AM
 #24


thanks for the advice amph Cheesy i appreciate it. ok i better buy used miner. BTW where can i buy used miner?

 Amazon usually has some listings, Ebay almost always has some, there's a marketplace forum here but you'll have to do a bit of digging through non-miner post headings, Craigslist usually has a few but likely not in your area (though some of us ARE willing to ship for the right price)....

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notlist3d
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January 15, 2016, 08:12:06 AM
 #25


thanks for the advice amph Cheesy i appreciate it. ok i better buy used miner. BTW where can i buy used miner?

 Amazon usually has some listings, Ebay almost always has some, there's a marketplace forum here but you'll have to do a bit of digging through non-miner post headings, Craigslist usually has a few but likely not in your area (though some of us ARE willing to ship for the right price)....


Ebay you get paypal protection from a dud, but you are paying extra.  Miners on the forum tend to sell for less then ebay (makes sense with ebay + paypal fees).   And part of it depends on what miner your trying to buy.

The board you have to wait for a deal sometimes.  Where ebay seems to be more constant stream of miners. (And again depends on unit a lot I'm sure are on sell in forum now).
QuintLeo
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January 16, 2016, 08:31:49 AM
 #26

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.


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notlist3d
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January 16, 2016, 08:54:32 PM
 #27

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.

It might be but through paypal you have to agree you have more protection then if you sent BTC.  Btc cannot be reversed so it's gone forever if problem and other person does not send back.  With paypal if you get shipped a dud miner you might get money back.  No it's not guaranteed 100 percent but still far higher then if it was BTC.

There is also seller protection but I'm unsure how much it helps.  Reading it sounds pretty good I recently sold something to 0 feedback and decided to risk it so far a week later no issues.   But granted it was not to high dollar of item or I would have canceled transaction.
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January 16, 2016, 09:25:34 PM
 #28

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.

It might be but through paypal you have to agree you have more protection then if you sent BTC.

 No, I do NOT agree. PAYPAL ITSELF has a long bad track record of rippiing people off, or at best being VERY VERY SLOW to pay off on valid sales with ZERO explanation given.

 Guess you're looking at it STRICTLY from a buyer viewpoint - where they might offer a little protection.
 They offer a MUCH HIGHER probability of a seller getting ripped off.
 Their so-called "seller protection" is a flat out LIE.

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notlist3d
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January 16, 2016, 11:24:28 PM
 #29

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.

It might be but through paypal you have to agree you have more protection then if you sent BTC.  Btc cannot be reversed so it's gone forever if problem and other person does not send back.  With paypal if you get shipped a dud miner you might get money back.  No it's not guaranteed 100 percent but still far higher then if it was BTC.

There is also seller protection but I'm unsure how much it helps.  Reading it sounds pretty good I recently sold something to 0 feedback and decided to risk it so far a week later no issues.   But granted it was not to high dollar of item or I would have canceled transaction.

 No, I do NOT agree. PAYPAL ITSELF has a long bad track record of rippiing people off, or at best being VERY VERY SLOW to pay off on valid sales with ZERO explanation given.

 Guess you're looking at it STRICTLY from a buyer viewpoint - where they might offer a little protection.
 They offer a MUCH HIGHER probability of a seller getting ripped off.
 Their so-called "seller protection" is a flat out LIE.

Please mention when you cut someones comment in a 1/4.  You will see I agreed I was unsure how much seller protection helps as stated. 

I'm not sure on slow payment.  If you have a new account with certain things yes they hold money for a while as escrow.  As long as you have a account that has been selling for a long time payment is not a issue, at least it has not been for me.  I have sold a long time though but it's instant payment after they pay for auction on my account.

It is normally on buyer's side I think that is true.   When I sell I normally put a high price with buy-it-now and pick who I want to win from offers.  That is most effective tool I have found as a seller to try to get good buyers.
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January 17, 2016, 07:53:41 AM
 #30

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.

It might be but through paypal you have to agree you have more protection then if you sent BTC.

 No, I do NOT agree. PAYPAL ITSELF has a long bad track record of rippiing people off, or at best being VERY VERY SLOW to pay off on valid sales with ZERO explanation given.

 Guess you're looking at it STRICTLY from a buyer viewpoint - where they might offer a little protection.
 They offer a MUCH HIGHER probability of a seller getting ripped off.
 Their so-called "seller protection" is a flat out LIE.

they have increased even the fee recently, i don't remember losing almost 10% for every transaction, yesterday i did a 28 euro transaction and only 26 went it

that is a scam indeed, too bad other service are not really used here(okpay) or i would use those
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January 17, 2016, 07:11:57 PM
 #31

Paypal.
Protection.
Contradiction in terms.

 Hint - I was one of the "class" in that class-action lawsuit against Paypal several years back, and there's a lawyer firm looking at filing ANOTHER class action lawsuit over mostly THE SAME ISSUES that Paypal signed a consent decree to CHANGE after the first time around.

It might be but through paypal you have to agree you have more protection then if you sent BTC.

 No, I do NOT agree. PAYPAL ITSELF has a long bad track record of rippiing people off, or at best being VERY VERY SLOW to pay off on valid sales with ZERO explanation given.

 Guess you're looking at it STRICTLY from a buyer viewpoint - where they might offer a little protection.
 They offer a MUCH HIGHER probability of a seller getting ripped off.
 Their so-called "seller protection" is a flat out LIE.

they have increased even the fee recently, i don't remember losing almost 10% for every transaction, yesterday i did a 28 euro transaction and only 26 went it

that is a scam indeed, too bad other service are not really used here(okpay) or i would use those

What it is a monopoly no other auction site comes close to it in traffic.   There are Ebay fee's, Paypal fees (which you pretty much have to use), and now they are part of shipping they save you a few bucks but no doubt get a kickback from being part of shipping now.

So it's fees and more fees.  But no one comes close to the volume of customers they have.  So they are in charge and they pretty much know it.
QuintLeo
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January 18, 2016, 07:30:23 AM
 #32

miners transfer very low amounts of data! but they need low latency!
They want low latency for best efficiency, but I've mined successfully on a sat connection (700ms more or less ALL the time).

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