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Author Topic: Where to start?  (Read 500 times)
LiveJay
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April 22, 2013, 12:50:51 AM
 #1

Hello Forum,

So, for any of us new guys finding our way in here, what is the best way to get started with mining today?  ASIC seems to be taking over already.  I've watched difficulty increase by 20% just in the last couple of weeks.  But, ASIC hardware seems to be unattainable.  Or am I wrong there.  Avilon is sold out and doesn't seem to have another batch on the horizon, BFL (well, they are BFL), what about any other options?  My understanding is that the more distributed the network, the healthier it is.  Also, the faster the network the healthier.  And the network will balance itself against the faster hash speeds of ASIC so coins aren't found any faster. 

Would it be best for new miners to sit on the sidelines and wait for the ASIC to become more mainstream?  Or are there options that aren't as obvious right now?

Thanks,

-Jay
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WordSurfer
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April 22, 2013, 01:05:50 AM
 #2

I am in the same boat. Interested but also intimidated by the risks, potential falling bitcoin price, increasing difficulty, ASIC mining rigs only going to insiders or those willing to risk money waiting for delivery.
ArbitrageX
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April 22, 2013, 01:07:45 AM
 #3

What is the best option besides an ASIC mining rig?
Si Robertson
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April 22, 2013, 01:08:22 AM
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What is the best option besides an ASIC mining rig?

GPU
vdek
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April 22, 2013, 02:16:33 AM
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What is the best option besides an ASIC mining rig?

GPU

GPUs only have a very short time before they become obselete however... Once the ASICs really start shipping, mining with a GPU won't be a good idea IMO as you will be spending more on electricity than you make.

BTC: 17ZbhY3EsWtphQxGkRFNUDqxSjf4nCdm2S LTC: LLvyrjqVPqPJtS31nsaAT8fg1t2HR6YGNH
nebulus
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April 22, 2013, 03:40:31 AM
 #6

What is the best option besides an ASIC mining rig?

None.

Si Robertson
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April 22, 2013, 03:45:11 AM
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What is the best option besides an ASIC mining rig?

GPU

GPUs only have a very short time before they become obselete however... Once the ASICs really start shipping, mining with a GPU won't be a good idea IMO as you will be spending more on electricity than you make.

Then go outside and shoot something!
Yurizhai
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April 22, 2013, 03:48:14 AM
 #8

Might want to choose a coin and buy with cash until the GPU/ASIC miner situation plays out.
Nelluellu
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April 22, 2013, 04:28:39 AM
 #9

So the Butterfly Labs guy is an international mail scammer, I heard? I thought about putting an order with them, until I heard this story...

Sooviks BTmünte osta.
LiveJay
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April 22, 2013, 04:30:45 AM
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Might want to choose a coin and buy with cash until the GPU/ASIC miner situation plays out.

True
LiveJay
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April 22, 2013, 04:32:06 AM
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So the Butterfly Labs guy is an international mail scammer, I heard? I thought about putting an order with them, until I heard this story...

But their site is so pretty!  How can they not be for real?!?   Wink

rudychicoDEA6
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April 22, 2013, 04:32:59 AM
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go with the traders that have good reputation, and leave the others. my opinion...
CRkfx1
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April 22, 2013, 04:42:16 AM
 #13

You can GPU mine other coins (LTC/NVC?) that are ASIC unfriendly.   I haven't invested in video cards yet.  Still CPU mining litecoins, only one a month nowadays.  Six months ago, it was one a day  Undecided

I do have a jalapeno otw, I hope, no I'm sure.  What I'm not sure about is whether or not it'll be an expensive paperweight when it arrives.  Putting out coins like my obsolete LTC CPU mining op, ie slow as hell.
LiveJay
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April 22, 2013, 05:07:06 AM
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I do have a jalapeno otw, I hope, no I'm sure.  What I'm not sure about is whether or not it'll be an expensive paperweight when it arrives.  Putting out coins like my obsolete LTC CPU mining op, ie slow as hell.

Hopefully you'll get it in time to recover your cost.  I'm rooting for you! 
bryanjones267
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April 22, 2013, 05:34:52 AM
 #15

we can mine what we want.
if there are no persons to buy the coins, we will stay the same...
and the miners usually don't buy big amount of coins
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