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Author Topic: New to mining, Help with everything.  (Read 746 times)
Jackzandco
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January 11, 2016, 04:24:25 PM
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Hello everyone.
So I always new about Bitcoin and Bitcoin mining but never really looked into it in great detail. My friend and I are thinking of starting a miner and have £200 starting money. If any of you guys could be useful and recommend us anything it would be appreciated.
What miner do you recommend? Also I don't understand fully about the psu is it necessary or what?
Also whatever miner you recommend what profit do you think we could get, assume the electricity costs are free.
Any additional information that you can add for us.

Thankss.
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VirosaGITS
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January 12, 2016, 02:03:47 AM
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Hello everyone.
So I always new about Bitcoin and Bitcoin mining but never really looked into it in great detail. My friend and I are thinking of starting a miner and have £200 starting money. If any of you guys could be useful and recommend us anything it would be appreciated.
What miner do you recommend? Also I don't understand fully about the psu is it necessary or what?
Also whatever miner you recommend what profit do you think we could get, assume the electricity costs are free.
Any additional information that you can add for us.

Thankss.

I can assume the electricity cost is free, but if its not, you will run the recommendation at great loss, because Euro electricity rates tend to be exorbitant. Either 3-4 Ant S1 + a PSU. Or two S3 if you can get a decent PSU from your own existing stock.
WENGER
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January 12, 2016, 08:17:31 AM
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I would recommend Antminer S3 ($125 the cheapest I saw in ebay) and a good PSU. Since you asked if power supply is really necessary, yes I would also recommend a good one and not a cheap one as you might regret in future since these PSU's help in converting the power to a lower scale and mining equipment's use a lot of power and with PSU's it could be on a stable scale.
tn211
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January 12, 2016, 02:38:27 PM
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Hello everyone.
So I always new about Bitcoin and Bitcoin mining but never really looked into it in great detail. My friend and I are thinking of starting a miner and have £200 starting money. If any of you guys could be useful and recommend us anything it would be appreciated.
What miner do you recommend? Also I don't understand fully about the psu is it necessary or what?
Also whatever miner you recommend what profit do you think we could get, assume the electricity costs are free.
Any additional information that you can add for us.

Thankss.

Why not reserve some play money.
Buy a cheap S1 or S3 miner to play with your miner.

Then buy some cloud mining or even better some bitcoins and learn about it.
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January 12, 2016, 02:53:06 PM
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Hello everyone.
So I always new about Bitcoin and Bitcoin mining but never really looked into it in great detail. My friend and I are thinking of starting a miner and have £200 starting money. If any of you guys could be useful and recommend us anything it would be appreciated.
What miner do you recommend? Also I don't understand fully about the psu is it necessary or what?
Also whatever miner you recommend what profit do you think we could get, assume the electricity costs are free.
Any additional information that you can add for us.

Thankss.

Why not reserve some play money.
Buy a cheap S1 or S3 miner to play with your miner.

Then buy some cloud mining or even better some bitcoins and learn about it.

These miners will not give much profit though as big beasts like S7 are eating the whole network.
Cloud mining is a better idea, but which one to choose is a question.
OP should do research before getting into mining field.

notlist3d
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January 12, 2016, 06:59:23 PM
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Hello everyone.
So I always new about Bitcoin and Bitcoin mining but never really looked into it in great detail. My friend and I are thinking of starting a miner and have £200 starting money. If any of you guys could be useful and recommend us anything it would be appreciated.
What miner do you recommend? Also I don't understand fully about the psu is it necessary or what?
Also whatever miner you recommend what profit do you think we could get, assume the electricity costs are free.
Any additional information that you can add for us.

Thankss.

Why not reserve some play money.
Buy a cheap S1 or S3 miner to play with your miner.

Then buy some cloud mining or even better some bitcoins and learn about it.

These miners will not give much profit though as big beasts like S7 are eating the whole network.
Cloud mining is a better idea, but which one to choose is a question.
OP should do research before getting into mining field.

Be careful with cloud mining so many scams out there. If you do it just go over to hashnest (research it but I think you will find its currently best).    But anyone looking into cloud really do some serious ROI math.

As far as EU mining I suggest sending to a data center in a place with no import tax, and cheap electricity.  It is not as fun as mining yourself and playing with machines.  But EU is a tough place to ROI for the most part with extra fees and electricity tends to be on high side.
dalistar
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January 14, 2016, 05:43:59 AM
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Hello man


Now mining bitcoin difficulty is very high not similar as before
This mean before two months with 1 th/s miner you can got 0.0088 bitcoin per 24 hours
Now with 1 th/s miner speed you can get 0.0043 bitcoin per 24 hours
For this s1 s2 s3 s4 s5 all no useful now .. maybe you can buy second hand one just to play and learn how to mine but you must not think can make profit


S7 is 4.7 th and it is 1200 wat /s
But the price now almost 1300 usd
And buying one pcs is not enough to get good rewards
At least must buy two or three to start have good mining reward


So must start with 4000 usd at least with good electric rate

Otherwise ...only you can buy small miner sinilar U2 just for learn ...

If your money is 250 usd ... I suggest you to start staking job not mining with asic
Good luck
Amph
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January 14, 2016, 07:27:20 AM
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it does not make any sense anymore to buy anything that is not an s7, because s7 consume far less and allow you to have less psu which mean less money wasted on that

also means that it allow you to have more hashpower on the same amount of wattage needed
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January 14, 2016, 08:38:09 AM
 #9

Unless you have free or near free power save your money.  200 pounds isn't going to be enough to get you anything measurable in newest gen tech and unless you can find a good deal on some used hardware your likelyhood of ROI'ing with pretty much anything below $1600 level is pretty much nil at this point.

If you insist on mining, spend your 200 pounds getting the best GPU your system can handle and mine and alt then convert to BTC.  Your GPU will depreciate far slower in value than whatever asic rig you buy (even s7's likely).  Anyhoo, good luck with whatever you decide to do.

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dalistar
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January 14, 2016, 09:24:45 AM
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Unless you have free or near free power save your money.  200 pounds isn't going to be enough to get you anything measurable in newest gen tech and unless you can find a good deal on some used hardware your likelyhood of ROI'ing with pretty much anything below $1600 level is pretty much nil at this point.

If you insist on mining, spend your 200 pounds getting the best GPU your system can handle and mine and alt then convert to BTC.  Your GPU will depreciate far slower in value than whatever asic rig you buy (even s7's likely).  Anyhoo, good luck with whatever you decide to do.


Yes it is right .....unless buy at least 3 x s7 then will be some ok ..and mine other coin other than btc then wait this coin to price up then sell ...

By thebway gpu is better
X11 can make one dash per day is 0.007 is better than 2000 GB miners with wasting electricity
notlist3d
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January 14, 2016, 05:46:20 PM
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Unless you have free or near free power save your money.  200 pounds isn't going to be enough to get you anything measurable in newest gen tech and unless you can find a good deal on some used hardware your likelyhood of ROI'ing with pretty much anything below $1600 level is pretty much nil at this point.

If you insist on mining, spend your 200 pounds getting the best GPU your system can handle and mine and alt then convert to BTC.  Your GPU will depreciate far slower in value than whatever asic rig you buy (even s7's likely).  Anyhoo, good luck with whatever you decide to do.


Yes it is right .....unless buy at least 3 x s7 then will be some ok ..and mine other coin other than btc then wait this coin to price up then sell ...

By thebway gpu is better
X11 can make one dash per day is 0.007 is better than 2000 GB miners with wasting electricity

If you buy 3 S7's you will be mining BTC there really is not a great sha alt coin.   So I think this bit of info is pretty false.

Also GPU's  are hard to ROI on I have not seen anyone talk about ROI in quite a while.  So you might make a little money, but chances are you wont pay off the GPU and pay for electricity.  Asics really control mining at this point.
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