What are the best ASIC miners and how do I sell my bitcoins?

[OhAnonymousMe]

Well I've been searching for mining equipment for the past few weeks and until I came here I never thought of BFL as a scam, but I did have to wonder why someone would even sell an ASIC machine to begin with.  I mean, if you know how to build one and you do it, you can pay for the investment and just build many more of them and get more bitcoin.  I figured that as ASIC machines are something that are known in the bitcoin community, then someone has to make them and sell them, so I figured why not BFL.  I sent them a message to ask if I could pay them to float my order to the front of the list just a few minutes ago before I joined this forum.

Anyway, after hearing that some people think that BFL is a scam, it makes me more cautious about doing business with them.  So, where do baby ASIC machines come from?  lol   If not from BFL, then where?  I'm willing to put out a good initial investment for a worthwhile machine and I'll be smart enough to tuck away some bitcoin for when I need an upgrade as the difficulty increases or payout decreases.  I just need to know of good machines or brands that people here trust who are experienced with them.  As for electricy, I'd imagine that the machine will pay out much more than what you'd need in electric costs.  I looked at the profit calculator to see if the BFL machines would be profitable and substituted in 1KW for their 500 GH/s machine and it came out to a nice tidy ~$3,000 a month in the end.

Calc: http://www.bitcoinx.com/profit/

Also, when I sell my generated bitcoins, how can I do that?  Right now I'm set up to go through localbitcoins.com and it seems to have a nice community and a good WoT as well.  Are there any legit sites that work as a currency exchange place where I can just send them the bitcoin and they transfer the funds to PayPal or my bank?  I'd imagine in order to stay in business they'd sell bitcoin as well and charge a premium both ways.  That actually sounds like a nice lucrative business when I get going with all of this.  I might make a sight like that at some point.  Anyway, in the mean time, does one already exist?

[greyhawk]

  I looked at the profit calculator to see if the BFL machines would be profitable and substituted in 1KW for their 500 GH/s machine and it came out to a nice tidy ~$3,000 a month in the end.

Now do it again for you receiving your machine approximately one year from now. Assume a 20% rise in difficulty every 2 weeks of that year.

[jimmy.coiner]

I am new to mining and want to get into mining litecoins, can asic be made to work with litecoins?  I like the idea of a specific designed device that is low power and heat, but don't want to mine bitcoins.

[greyhawk]

I am new to mining and want to get into mining litecoins, can asic be made to work with litecoins? 

No, they can't. Unless someone builds an ASIC for hashing scrypt of course.

[dunchy]

Expressing a clear and unambiguous attitude about what ASIC is the best will probably start a flaming war here, since a thread only on KNCMiner is at page 218 at the moment...

I am also trying to dig out a list of all current/future vendors. Here's what I know so far:

Avalon, BFL, KNCMiner, Terrrahash, BitFury, VMC (vritual mining corp) and an unknown number of shops assembling Klondike open source board with Avalon chips...

I've bitten the bait with KNC's Saturn. My opinion is that they are serious and legit guys, offering biggest GH/s for the buck, but at this moment still don't have an idea if they'll  meet the deadlines. But, at least much as I am here for the bucks, I'm also for the politics. So I don't bother about overnight ROI, just to keep my machine working until all evil banks die. Fingers crossed

Hope this helps.

[OhAnonymousMe]

Expressing a clear and unambiguous attitude about what ASIC is the best will probably start a flaming war here, since a thread only on KNCMiner is at page 218 at the moment...

I am also trying to dig out a list of all current/future vendors. Here's what I know so far:

Avalon, BFL, KNCMiner, Terrrahash, BitFury, VMC (vritual mining corp) and an unknown number of shops assembling Klondike open source board with Avalon chips...

I've bitten the bait with KNC's Saturn. My opinion is that they are serious and legit guys, offering biggest GH/s for the buck, but at this moment still don't have an idea if they'll  meet the deadlines. But, at least much as I am here for the bucks, I'm also for the politics. So I don't bother about overnight ROI, just to keep my machine working until all evil banks die. Fingers crossed

Hope this helps.

KNCMiner is 1/4 the cost of a BFL rig of almost the same specs.  I'll keep looking, but that one looks fine indeed!  Heheheh...

[dunchy]

I just saw this link in KNCMiner thread, check it out:

http://decentralizedhashing.com/bitcoin-mining-equipment-table/

[jmevz]

Expressing a clear and unambiguous attitude about what ASIC is the best will probably start a flaming war here, since a thread only on KNCMiner is at page 218 at the moment...

I am also trying to dig out a list of all current/future vendors. Here's what I know so far:

Avalon, BFL, KNCMiner, Terrrahash, BitFury, VMC (vritual mining corp) and an unknown number of shops assembling Klondike open source board with Avalon chips...

I've bitten the bait with KNC's Saturn. My opinion is that they are serious and legit guys, offering biggest GH/s for the buck, but at this moment still don't have an idea if they'll  meet the deadlines. But, at least much as I am here for the bucks, I'm also for the politics. So I don't bother about overnight ROI, just to keep my machine working until all evil banks die. Fingers crossed

Hope this helps.

KNCMiner is 1/4 the cost of a BFL rig of almost the same specs.  I'll keep looking, but that one looks fine indeed!  Heheheh...

I saw that KNCMiner, good price, definitely kills BFL's price and considering BFL's reputation as well. Do we know what the power usage is likely to be on this thing?

[OhAnonymousMe]

Expressing a clear and unambiguous attitude about what ASIC is the best will probably start a flaming war here, since a thread only on KNCMiner is at page 218 at the moment...

I am also trying to dig out a list of all current/future vendors. Here's what I know so far:

Avalon, BFL, KNCMiner, Terrrahash, BitFury, VMC (vritual mining corp) and an unknown number of shops assembling Klondike open source board with Avalon chips...

I've bitten the bait with KNC's Saturn. My opinion is that they are serious and legit guys, offering biggest GH/s for the buck, but at this moment still don't have an idea if they'll  meet the deadlines. But, at least much as I am here for the bucks, I'm also for the politics. So I don't bother about overnight ROI, just to keep my machine working until all evil banks die. Fingers crossed

Hope this helps.

KNCMiner is 1/4 the cost of a BFL rig of almost the same specs.  I'll keep looking, but that one looks fine indeed!  Heheheh...

I saw that KNCMiner, good price, definitely kills BFL's price and considering BFL's reputation as well. Do we know what the power usage is likely to be on this thing?

KNCMiner tells you how much power it consumes in the listing.  Depending on what you choose it'll be 250W, 500W, or 1KW.  I'll be getting the Jupiter.  It's 1KW and 400 GH/s.

[dunchy]

OhAnonymousMe,

do you maybe consider KNC hosting option or will you host your own device? I'm asking because for me hosting done by KNC would be the most convenient choice, but I can't get any info on possible costs.

[OhAnonymousMe]

OhAnonymousMe,

do you maybe consider KNC hosting option or will you host your own device? I'm asking because for me hosting done by KNC would be the most convenient choice, but I can't get any info on possible costs.

As the devices should pay their own electric bill and more, I should be able to host my own.  Hosting for these machines is more for avoiding high electric bills or pooling resources I'd imagine.  They might also stuff them in a cold room so your machine functions at it's best and so you don't have to heat your house up in the summer with it.  For me, I'd rather save the funding and have it here with me and pay less in electric costs.

Holy!  I just looked at the profitability calc on the Jupiter and it'll rake in over $17,000 in a month!  The only catch I can see so far is that not everyone accepts bitcoin, so you need to trade it for your national currency.  I don't mind as I have localbitcoins.com and this place if nothing else.  I'm glad I'm getting in while the getting is hot.  That amount also takes into account the power consumption.  ($584 a month in electric)  I'll just have to make sure I trade enough bitcoin before the end of the month so I can pay the electric bill.  As I'll be generating the bitcoin, I can go just below the competition in my bitcoin pricing and get my sales in.  If I need the money quickly, I can run a deal where I lower my prices temporarily.

If bitcoin wasn't such a big thing, I'd think this sounds too good to be true, but as BitCoin is only 3 years old right now, it hasn't been in play long enough for it to be heavily regulated.  That being said, I wouldn't be suprised if one day each bitcoin was worth $1,000 due to the difficulty and the mining costs or Bitcoin is made illegal or something.  Heck, some torrents are illegal, but that doesn't kill the crop.  However, we could also mine Bitcoin so much that it becomes less valuable, so regulation isn't necessarily a bad thing as long as I gather lots of bitcoin before it gets too regulated and harder to get.  =P

[JeffBollins]

I just saw this link in KNCMiner thread, check it out:

http://decentralizedhashing.com/bitcoin-mining-equipment-table/

Cheers for the link mate, appreciate it! 

[jlong187]

sell bitcoins at ebay or any exchanges

[BlackLilac Jordan]

There is only one company that has actually developed ASIC mining hardware that they are capable of shipping: ASICMINER. Avalon has delivered a good percentage of their pre-orders, but they are only selling bulk chips now.

Every other company currently claiming to sell ASIC devices is taking pre-order money and hoping to be able to develop the chips in the future, ie the BFL strategy. KNCMiner for example can claim to be as efficient as they want, like BLF did at first, as they have not actually produced working devices yet.

[dunchy]

Yesterday KNC put a hosting link on its website with prices..   

Since I'm placed in european 3rd world country, in case of bitcoin pros and cons are:

- Electricity is cheap (and unfortunately still it's not particularly too hard to get it even for free if you have someone you can trust on university or some other bullshit state administration agency or just a skilled electrician in some far away village)
- Shipping is not possible. And if you fail to smuggle it inside a suitcase (bigger one) those vultures from customs will be more than happy to strip your flesh off even though they don't have a clue  what ASIC is and the whole thing is not legally regulated.
- Potential selling of equipment is going to be easier if it's hosted
- I'd need some housework to set up the gear + travel expences to pick it up on spot. This would cost approx. 50% of 12M hosting.

Therefore  I've decided to go with 12M on Saturn.

If anyone else is interested in KNC hosting be sure to react promptly, there's limited number of seats.

[jmevz]

Expressing a clear and unambiguous attitude about what ASIC is the best will probably start a flaming war here, since a thread only on KNCMiner is at page 218 at the moment...

I am also trying to dig out a list of all current/future vendors. Here's what I know so far:

Avalon, BFL, KNCMiner, Terrrahash, BitFury, VMC (vritual mining corp) and an unknown number of shops assembling Klondike open source board with Avalon chips...

I've bitten the bait with KNC's Saturn. My opinion is that they are serious and legit guys, offering biggest GH/s for the buck, but at this moment still don't have an idea if they'll  meet the deadlines. But, at least much as I am here for the bucks, I'm also for the politics. So I don't bother about overnight ROI, just to keep my machine working until all evil banks die. Fingers crossed

Hope this helps.

KNCMiner is 1/4 the cost of a BFL rig of almost the same specs.  I'll keep looking, but that one looks fine indeed!  Heheheh...

I saw that KNCMiner, good price, definitely kills BFL's price and considering BFL's reputation as well. Do we know what the power usage is likely to be on this thing?

KNCMiner tells you how much power it consumes in the listing.  Depending on what you choose it'll be 250W, 500W, or 1KW.  I'll be getting the Jupiter.  It's 1KW and 400 GH/s.

So KNC Miner is a standalone unit not requiring a host machine, that's correct yeah? Apologies for the beginner questions here. If this is the case, and consider my electricity costs me 24.25c per kWh, there's no way I'd make a profit if I purchased the Murcury Miner?

I'm using this calculator, http://www.bitcoinx.com/profit/ - Can someone tell me if I've used it right?

[odolvlobo]

This is the best mining calculator that I have found: http://mining.thegenesisblock.com/

It lists information and prices for all the hardware, and it includes difficulty changes in the calculator.