Getting back into BTC mining

[dtison]

Hello all

I was mining on eclipsemc since 2011 - but then fell out when ASIC's hit about mid 2013. 

Am interested in - getting back into it.

Does anyone have a favorite ASIC to recommend to someone wanting to get back into mining - or hints of any new process technology on the horizon?

Thanks

[1715664107]

1715664107

[1715664107]

1715664107

[1715664107]

1715664107

[talks_cheep]

Mining outlook is gloomy unless you got a mining farm of 10+ PHs at a free to low electricity rate. Home miner? You're just burning electricity for dust. There are no quality miners any more, only crappy junk from a shoddy manufacturer known as Bitmain technology. Bitmain has a near monopoly right now on mining gear, they have you by your balls, and they are very good at squeezing your balls. So, my question is why bother mining at this time? Unless you enjoy getting your balls squeezed by Chinese...

[italianMiner72]

Mining outlook is gloomy unless you got a mining farm of 10+ PHs at a free to low electricity rate. Home miner? You're just burning electricity for dust. There are no quality miners any more, only crappy junk from a shoddy manufacturer known as Bitmain technology. Bitmain has a near monopoly right now on mining gear, they have you by your balls, and they are very good at squeezing your balls. So, my question is why bother mining at this time? Unless you enjoy getting your balls squeezed by Chinese...

...but if you have a 10Kwatt photovoltaic pharm and you can home mining at 0 euro electricity cost?

[interbtc]

Hello all
I was mining on eclipsemc since 2011 - but then fell out when ASIC's hit about mid 2013. 
Am interested in - getting back into it.
Does anyone have a favorite ASIC to recommend to someone wanting to get back into mining - or hints of any new process technology on the horizon?
Thanks

Honestly, don't. I was thinking about the same thing, but the days where it's profitable for average joe's to mine are long gone.
Even temp. profitability means nothing, because it lures you to buy equipement, and then diff changes and you're left stranded.

This is just my personal experience, other may not agree, but i for one think it's better to straight off invest in buying bitcoin , then in bitcoin/altcoin mining, unless you're cheating power companies.

[NeuroticFish]

Hello all

I was mining on eclipsemc since 2011 - but then fell out when ASIC's hit about mid 2013. 

Am interested in - getting back into it.

Does anyone have a favorite ASIC to recommend to someone wanting to get back into mining - or hints of any new process technology on the horizon?

Thanks

First, you need dirt cheap electricity. Else there's no chance.
Second, this may be the toy you want https://bitcointalk.org/index.php?topic=1493601.0

You should also take a look at altcoin mining. Some have a good chance for easy ROI and I have a feeling that you may be experienced with GPU mining....

[Das]

Altcoins are your best bet on getting some fast returns on investment.

You can read this if you're still planning on going with bitcoins: http://blockgen.net/blog/novices-guide-to-setting-up-a-crypto-currency-mining-pool/

[alh]

...but if you have a 10Kwatt photovoltaic pharm and you can home mining at 0 euro electricity cost?

Everyone just naturally assumes that a solar array makes "free electricity" and hence is perfect for mining. There are a couple of major flaws with that theory.

1) If you have no other source of equally "free electricity", then you are limited to mining when the sun is shining.

2) You should consider what your alternative uses are for for your "free solar power". If you could use all the solar power you have to replace some $.14/KWh electricity consumption, then your actual cost for mining is $.14/KWh, not zero as you might think. Economists call this "Opportunity Cost". Do a little research on this and you'll see what I mean.

3) The cost of the initial install is usually fairly high. What could have done with money instead of building a solar array for mining (See #2 above)?

[CryptoVision]

Hello all
I was mining on eclipsemc since 2011 - but then fell out when ASIC's hit about mid 2013. 
Am interested in - getting back into it.
Does anyone have a favorite ASIC to recommend to someone wanting to get back into mining - or hints of any new process technology on the horizon?
Thanks

Honestly, don't. I was thinking about the same thing, but the days where it's profitable for average joe's to mine are long gone.
Even temp. profitability means nothing, because it lures you to buy equipement, and then diff changes and you're left stranded.

This is just my personal experience, other may not agree, but i for one think it's better to straight off invest in buying bitcoin , then in bitcoin/altcoin mining, unless you're cheating power companies.

It's not so easy in fact, there were big jumps in difficulty even months before the halving.

[talks_cheep]

You should start mining as soon as possible, don't wait, don't walk, Run and buy S7, or better yet S9 miners from Bimain. Do it now! The sooner you start mining, the sooner you can become a millionaire like me! I'm writing this from a Cray super computer, I live in a castle, drive a Ferrari, have a big bosom blonde wife who services me like a king, all due to Bitcoin mining! Forget the other altcoin crap, Bitcoin is where real money is, just look at this ugly phat ass niggaz!

[leowonderful]

 it'll be difficult to make profit even with the new S9- if you have electricity above 0.10$/kwh, it'll be almost impossible with most miners as most people will have an edge. If you have a cost lower or substantially lower than that, factor in cooling- ASICS make quite a lot of heat, and if you live in a hot place, it'll be hard getting that heat out. After that, if you have a reasonably good electric price and cooling is cheap, I recommend buying the latest generation miner as of now- the S9. Prices recently went down with the last batch, so it's now more affordable. Good luck mining.

[alh]

You should start mining as soon as possible, don't wait, don't walk, Run and buy S7, or better yet S9 miners from Bimain. Do it now! The sooner you start mining, the sooner you can become a millionaire like me! I'm writing this from a Cray super computer, I live in a castle, drive a Ferrari, have a big bosom blonde wife who services me like a king, all due to Bitcoin mining! Forget the other altcoin crap, Bitcoin is where real money is, just look at this ugly phat ass niggaz!

I have checked with some of my buddies at Cray, and I am 100% certain that talks_cheep does NOT own a a Cray supercomputer. I cannot comment on his Ferrari, busty blond wife, or castle....

 

[Das]

Actually your electricity cost will determine IF you should go into mining at all or the type of miner you should buy. Please note that anything above 0.10$/Kwh is a no-profit venture, unless maybe if you use Bitmain R4.

[Carmen_Sandiego]

I agree to say that it is not easy as some people think. There were high diff jumps before the halving, and after the halving it has become more difficult, especially for those who do not have access to cheap electricity..