NOOB here!

[brijoco]

Hi,

Noob here so a few thoughts on the current state of Bitcoin and mining.  Been reading a lot about Bitcoin and mining and relearning maths I forgot years ago. 

Trying to work out how anyone will make ROI on USB ASICS.  The 'experts' seem to think ROI at current difficulty will be around nine months.  My calculations are along those lines.  By then, me thinks, there will be a lot more larger ASIC's in the wild and the difficulty will have increased.

So, what is the best way to get into Bitcoin without spending vast amounts of fiat on Bitcoin to buy a larger ASIC.  Now there is a good question.  For certain, I need access to the group buys on this forum.  This is the best way I have found to get into mining and acquire ASICs at a reasonable price.

Of course, this all assumes the 'authorities'  fail in attempts to stop Bitcoin by legal assoults.  I seem to remember a similar assault on LETS (Local Exchange Trading Systems)  a few years ago when it looked as though they might replace a significant volume of trade outside the fiat systems.

Time will tell.  All constructive thoughts and ideas welcome!

[9mm-btc]

With the new price structure for the ASICMiner USB miners dropping to about 1 BTC each (from 2 BTC) things are looking better.  I think another 50% price drop would peak more interest from the fiscally responsible.

[somecanuck00]

Hi and welcome, I am new too! Hope to learn a lot here on the forums.

[brijoco]

Hi and welcome, I am new too! Hope to learn a lot here on the forums.

There is certainly a lot to learn!

[brijoco]

With the new price structure for the ASICMiner USB miners dropping to about 1 BTC each (from 2 BTC) things are looking better.  I think another 50% price drop would peak more interest from the fiscally responsible.

All price reductions make for a better ROI!
Larger asics like BFL / Avalon have shorter ROI but limited availability and more expensive.

[brijoco]

Hi

Sounds like you're chasing an unattainable dream.

I don't see why people invest so much money in something that might realistically break even in 1 or 2 years. If your goal is to make money, getting a job is the easiest thing to do. Or buying stock. Or keeping your money in a bank and earning interest.

For all you know, the bitcoin experiment could fail and you'd be left with worthless coins.

I wonder if these people view bitcoin as a get rich quick scheme.

Just my two bitcents.

Same argument is valid for so many things in life!

How many billions are 'squandered' on lottery tickets each week world wide.

One thing is certain ...  you have to be in it to win it!

[mprep]

Hi and welcome. Good luck learning about Bitcoin I guess.