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Author Topic: Just bought my 1st miner.  (Read 243 times)
ludlow47359
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December 02, 2017, 02:48:42 AM
 #1

About 4 weeks ago I had a random thought.
"I wonder how bitcoin mining is done?"
That random thought took me on a crazy path. I quickly began to realize "I could do that. Can I do that?"
I've read, researched, learned about BCH, set up a and wired $ to a bitcoin account.
I learned how convert BTC to BCH.
I joined this group!
So much more.

Welp. I just ordered/paid for a S9. I was going to get 2 but realize that with all the currency fees I didn't have enough $/BTC so I
just got 1.
Maybe another next week.
Maybe the WHATSMINER M3.

PS, I didn't buy the Antminer S9 PSU. As I'm in the USA I'm going to have trouble with the stock PSU.
So, next thing to figure out.
What to do about power.

Anyway, what a trip!
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FunnyAttitude
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December 02, 2017, 03:36:27 AM
 #2

I also planning to get a mining equipment however I heard a lot of mixed reaction from my friends. Online also keep saying that mining is not profitable unless you have super cheap electricity fees which apparently not in my country.
ludlow47359
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December 02, 2017, 03:41:14 AM
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I also planning to get a mining equipment however I heard a lot of mixed reaction from my friends. Online also keep saying that mining is not profitable unless you have super cheap electricity fees which apparently not in my country.

In my experience when trying new ventures that are not well understood friends and family always say it's a bad idea.

The electricity is a real problem.
Have you tried Bitcoin profit calculators? They were very helpful for me.
CryptoMoonDevil
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December 02, 2017, 04:08:34 AM
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Beginner miners should join a mining pool if you want to mine BTC. BTC
You could build a solid machine for about $2,000 or less that will do a pretty good job at mining some of the altcoins. For instance, coins like Monero XMR have a decent profitability ratio to power consumption. Study all the different popular, mineable coins and see what's best for you. Remember, your machine will need to computer in kila-hashes to be profitable. According to some figures i did a while ago: (check hashrates with the coin you choose BEFORE dropping bills on a machine) i found  that mining XMR with my custom machine would become profitable after about 6 months of mining. I realized i can make ten times that by just buying and trading coins on the daily. So in summary, do the math, do it again, then decide.  Wink

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makememuchmoney88239
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December 02, 2017, 06:48:10 AM
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you will be able to super enough when you have many more than miner, don't buy 1 miner, you will loose out   Embarrassed
RominaViewly
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December 02, 2017, 12:55:37 PM
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Great to hear that, can't wait for an update on your purchase. Curious to see what your effective hash rate will be and your projected profit.
What is the electricity cost in your area ?
kahc
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December 02, 2017, 02:29:15 PM
 #7

About 4 weeks ago I had a random thought.
"I wonder how bitcoin mining is done?"
That random thought took me on a crazy path. I quickly began to realize "I could do that. Can I do that?"
I've read, researched, learned about BCH, set up a and wired $ to a bitcoin account.
I learned how convert BTC to BCH.
I joined this group!
So much more.

Welp. I just ordered/paid for a S9. I was going to get 2 but realize that with all the currency fees I didn't have enough $/BTC so I
just got 1.
Maybe another next week.
Maybe the WHATSMINER M3.

PS, I didn't buy the Antminer S9 PSU. As I'm in the USA I'm going to have trouble with the stock PSU.
So, next thing to figure out.
What to do about power.

Anyway, what a trip!


One important thing. If your antminer S9 is directly connected to the internet, it is to imperative to change the password for "root". Otherwise someone will remote hijack your miner.
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