Hardware to get started

[balousen]

Hi Guys

I would like to get started with Mining BTC. I have been searching for asic hardware without any luck.

I have 4000$ Budget - Any advise where to start ?

My goal in the end is to mine around 1 BTC pr day.

[notandrewk]

I would start with asicminer block erupter Blades. You can get a good deal from canary: https://bitcointalk.org/index.php?topic=271054.0

With a budget of 4k you can get 4 blades (10.25BTC ea.) which run over 10 Ghash/s each. There's rumors of new blades coming out in a week or so which will certainly be faster. 

[rileyA.]

Hi Guys

I would like to get started with Mining BTC. I have been searching for asic hardware without any luck.

I have 4000$ Budget - Any advise where to start ?

My goal in the end is to mine around 1 BTC pr day.

I would stay away from pre-orders as by the time you actually get it, the ROI could be who knows where. In my opinion, I would simply purchase bitcoins rather then mine them. I have done my fair share of mining and i'll tell you, the days of printing money with no effort are behind us. It is EXTREMELY competitive currently. The only way that mining will become more profitable would be if the exchange rate went up to 200 or so. At current prices, you can't get your money back easily.

That being said, heres the answer to your question based on TODAY's Difficulty.
If you picked up a 25gh/s and 50gh/s miner from BFL, that would put you around 75gh/s.

This would give you 1.01 btc per day approximately and come in under 4k but with shipping, etc... you'd probably land at 1btc per day. Like I said though, who knows when your miner will arrive and what the difficulty will be when it comes.

If you wanted to go with USB miners from ASICMiner, they are in stock, no pre-order and you have them at your door in 1 week. I ordered some last week on a sunday and had them on the next monday. Very quick and easy to set up


I used this calculator.
http://www.alloscomp.com/bitcoin/calculator

[balousen]

Thanks for reply.

How many USB Miners do I need to make 1 BTC ? And do you know what the price would be ?

[polrpaul]

Just buy BTC instead. You will be surprised by the ROI in a few months to a year.

[BitGlory]

I would use that money to invest in the September BOOM of the price that is coming.

[batt01]

i would start with an miner from these guys

http://ecommerce.square7.ch/

That link is most likey a scam. If you want to mine and not pre-order. AM Block Erupters or Blades is the oney way to go ATM.  Other than just buy BTC, you could also consider buy mining shares. I have been buying some Block Erupters and mining shares. I have some Addiction, ActiveMining and LabRat shares.

[thy]

You should avoid buying anything from ASICMINERS like the mentined "asicminer block erupter Blades" as there products is way to overpriced, you will never make the money back on them, same thing with there USB miners, at least at current prices.
 
BFL is more or less a scam, they deliver way to late after they probably have been mining with there customers devices and they have a huge backlog so avoid Butterflylabs.
 
Avalon turned to a scam company to with there batch 2 devises that they delivered very late after probably mining with them for a couple of months so they are no good either.

Best bet was Knc miner from Sweden i guess if they will come throu and start deliver in late september or early october for those that can get there ASIC up and running the first day KnC deliver ASIC's. But it will only take a few days with KnC's production capacity to make it unprofitable to mine even with the most efficient and best priced ASICS at todays prices so it's to late to buy from them to.

So unless ASICMINERS cuts down there prices to 1/10 or so of todays, there is no ASICminer that can be delivered now or that you can order now that will be profitable over it's lifetime at the prices ASIC's cost now.

If you think USD/BTC prices will go up in the long run thou, then you are probably better off to just buy BTC and sit on them for a while instead of buying any ASICminer today.

[thy]

Thanks for reply.

How many USB Miners do I need to make 1 BTC ? And do you know what the price would be ?

A USB miner is a very bad investment, it will not generate you the 0,6 BTC or so it costs you to buy it.
At the next difficulty in 1 days time it will generate around 0.0032 btc per day or so for 10-11 days then it will be 25-35% less for the next 10-11 days and so on for a few weeks untill the ASICs will start flood the market in sept/oct and then a USB miner will hardly generate anything.

At next difficulty change, 13 august you will need around 312 USB miners to generate 1 btc a day(but only for the first 10 days or so, after that the generation will decrease) and they will cost you around 19 656 USD(105 USD/BTC) 187,2 btc(at 0,6 btc per USBminer)

So to estimate what you can expect to get back from an USB miner will be something like

first 10 days 5,33%
day 11-20 4,10% 9,43%
day 21-30 3,16% 12,59%
day 31-40    2,43% 15,02%
day 41-50  1,87% 16,89%
after this the generation vill probably drastically decrease so it's pretty safe to asume they will never give back more than 20% of what they cost if bought today.

In it's entire lifetime a USB miner bought today will probably generate less than 0,12 btc so you need 9 or more of them to generate 1 btc over there lifetime and the cost for those 9 USBminers is around 5,4 btc today.

[balousen]

Thanks - I am thinking about a butterflylabs unit 60 GH/S i have got a good price - is it a bad investment ?

[zamot]

I think this prices for miner are made so that it is impossible to make ROI in short ( normal term ). You will need year ( if lucky ) to become profit because the difficulty is changing to fast.

[batt01]

Thanks - I am thinking about a butterflylabs unit 60 GH/S i have got a good price - is it a bad investment ?

Search the forums and you will see that BFL is more than a year behind in processing orders. I placed a order in April this year. I will consider my self lucky if I get it before 2014.

[balousen]

stanley I have heard it´s scam ! But I can take a flight to your company and pay cash and get it in hand ?