Just starting out...

[MagicalNinjaaa]

Alright so im pretty computer smart but i feel like there is just an overload of information all over the web so im asking for any kinda direction starting up mining! Even a specific youtube video would help but mainly i would like to spend not a ton of money for something to get up and running and see some flow before i start really putting money into hardware. Been looking high and low and the information overflow is just so confusing. Decided to try out a smart miner pool on cpu then started to realize its doing virtually nothing as far as any currency even with 4 laptops and 4 cell phones running the miner lol.  I would like to get in this asap though i feel like i already missed so much! Thanks for any kinda direction people!

[1715365486]

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[1715365486]

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[cableiso]

Bitcoin, the feeling is always "I missed out" and "I'm in so early!" Even at the same time.

To get in, first learn to use profitability calculators, THEN buy equipment.

The top of the line these days are antminer s9, costing $1400 bucks and a 2 month wait.  Ebit E9 are also $1000-1200 but don't earn as much as s9, close though and they're available if you don't mind paying with wire transfer.

Older equipment like S7 are now barely profitable since the price went up, but the profitability for all machines declines over time.  

I don't suggest paying $3K eBay prices for an s9.  It will take 4-5 months to break even.  You could potentially resell then and make a profit, or the machine could die and you suffer a loss.

I suggest buying new, or a good deal on provably good equipment with escrow or PayPal for buyer protection.  Scams run rampant, maybe up to 25% of the listings here even and worse elsewhere.  Buy from the factory or a reseller listed on the factory site.  It takes 20 minutes to set up a fake bitcoin miner shop and the web is full of them.

If your budget is lower, buy a few gpu and mine other coins if you just want to "get in" on something.  But always use the profitability calculators  and if you can't reach roi (return on investment), don't buy.  Just wait for a good deal to come along.  You'll always be missing out, and you'll always be getting in early.

Wall Street starts trading bitcoin soon.  Now is early.

[Sissman]

Cheers Cableiso, that's very helpful.

You say "if you don't mind paying wire transfer". My question is to whom?  (given all the scams around...)

[cableiso]

http://miner.ebang.com.cn

That's the ebit factory.  Contact them directly.  You have to talk to them on Skype and they will generate an invoice for you with their wire details.

They don't care much about small timers like me so you have to be nice, yet persistent.  They'll make you an invoice eventually. 

And to practice being skeptical, I suggest you double check that web address against other posts on the forum to prove to yourself that it's not a fake site I run or something.