My friend and I are thinking of mining Bitcoins....

[Amph]

With only 4 cent your electricity cost is very good for mining, I think use S5 is still profitable and return about 5 months if you buy new units. Now the price more than $900, I think now you must start for mining.

better to buy one s9, s5 is cheaper but the profit is very low, and the s9 has a higher resale value when it will be come obsolete

and 5 months assuming that the diff will stay the same...witht he current increase it's improbable

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[alh]

With the increase in BTC price, you can absolutely count on difficulty going up. When BTC price rises, people add hash rate one way or another. When that happens, difficulty will increase. Over the course of 5 months, it will be at least a 20% increase (IMHO).

[Shiroslullaby]

I'd like to hear peoples opinions about pool mining vs solo mining  for someone starting out with a few miners.
I'm sure someone has done the math and can post expected time to hit a block solo vs your average earnings when using a pool.
Is it even worth mining solo these days unless you have a ton of hash power?

[coolcoinz]

I'd like to hear peoples opinions about pool mining vs solo mining  for someone starting out with a few miners.
I'm sure someone has done the math and can post expected time to hit a block solo vs your average earnings when using a pool.
Is it even worth mining solo these days unless you have a ton of hash power?

As far as I know pool mining used to be more profitable in the past and it still it. More hash in a pool = more chances of finding a block = more cash for everyone, but I remember there were some people who found blocks with their USB miners, so you can always solo mine if you're feeling lucky.

[leowonderful]

I'd like to hear peoples opinions about pool mining vs solo mining  for someone starting out with a few miners.
I'm sure someone has done the math and can post expected time to hit a block solo vs your average earnings when using a pool.
Is it even worth mining solo these days unless you have a ton of hash power?

As far as I know pool mining used to be more profitable in the past and it still it. More hash in a pool = more chances of finding a block = more cash for everyone, but I remember there were some people who found blocks with their USB miners, so you can always solo mine if you're feeling lucky.

Yeah, in the far past. I remember just a while ago someone hit a block with an S3 or S5. Mining was more or less just as profitable as it is today, nothing has really changed except for difficulty and price as new miners came out and things happened.

[veleten]

I'd like to hear peoples opinions about pool mining vs solo mining  for someone starting out with a few miners.
I'm sure someone has done the math and can post expected time to hit a block solo vs your average earnings when using a pool.
Is it even worth mining solo these days unless you have a ton of hash power?

no it is totally silly to try and mine solo nowadays
well if you have an odd USB stick or a s1-s3 miner that don't eat much electricity you can try your luck and just keep it mining solo
but if you have some solid ASICS like s7 or s9 one or more,the chances of finding a block solo are still close to 0
but your s9 can make money with pooled mining and not rely on luck