Looking to spend 3K on hardware.

[Chewyy]

What would ya'll do? I was considering getting monarch but it took me nearly one year to receive my little single.... Then when I look at the usb block erupter they wont even pay themselves off ever... What the hell should I buy then ? lol I don't get it...

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[AmDD]

Buy Bitcoins!

Mining is getting crazy, just buying coins may be the best way to go...

[Rannasha]

What would ya'll do?

Not buy mining hardware.

In a free market, mining will at best be only marginally profitable, in which case economics of scale will benefit large farms over small home-users. But right now it's looking like mining will enter a period of negative profitability, since there are a ton of pre-orders and such that are still to be delivered. Pre-orders from a time when the current 50M difficulty was hard to imagine. So I'm expecting new ASIC deliveries to overshoot the difficulty, dropping profitability and interest in mining until things settle around an equilibrium, where large-scale miners make a small profit and small-scale miners struggle to break even.

[FreedomCoin]

buy AM stock

[crazyates]

$3k isn't enough to by a Monarch. I'd recommend one of These, and 3 of These to plug into it. You're looking at about 100GH/s, and that leaves you $200 for a PSU and any other equipment you need.

It's also modular, so you can buy up to another 12 of those boards as you grow, for an end product of 400GH/s.

[skleven]

$3k isn't enough to by a Monarch. I'd recommend one of These, and 3 of These to plug into it. You're looking at about 100GH/s, and that leaves you $200 for a PSU and any other equipment you need.

It's also modular, so you can buy up to another 12 of those boards as you grow, for an end product of 400GH/s.

So why not just buy a KNC Mercury for $2k? Ships in october too..

[jspielberg]

So why not just buy a KNC Mercury for $2k? Ships in october too..

Mostly because there is still risk that KnC won't be able to deliver.

The bitfury machine has been demonstrated and is in the process of being mass produced (500H boards = ~12TH/day manufacturing).

If you are spending today, bitfury is a smart choice.  If you are buying in September/October, maybe KnC will have proven their production and will be a good option as well.

Personally, I am not buying any more mining hardware until March of next year.  Still waiting for pre-orders to become realized.

[flipper]

You come to the mining game too late. You won't make it as a home miner. Get some Asicminer shares and enjoy the dividends (for now).

[superresistant]

You come to the mining game too late. You won't make it as a home miner. Get some Asicminer shares and enjoy the dividends (for now).

+1 you're a bit late. Unless you know a lot about hardware & bitcoins which is not the case if you ask the question.

[culexevilman]

At this point in time it's best to just buy coins and hold.

[kendog77]

So why not just buy a KNC Mercury for $2k? Ships in october too..

Mostly because there is still risk that KnC won't be able to deliver.

The bitfury machine has been demonstrated and is in the process of being mass produced (500H boards = ~12TH/day manufacturing).

If you are spending today, bitfury is a smart choice.  If you are buying in September/October, maybe KnC will have proven their production and will be a good option as well.

Personally, I am not buying any more mining hardware until March of next year.  Still waiting for pre-orders to become realized.

Avalon and BFL have also demonstrated a product that is being mass produced, but their delivery record sucks and they always deliver late. They jury is still out on whether or not BitFury will meet their planned delivery dates...

[piecinitup]

I'll tell you what I did

I was one of the first 40 orders of a starter kit through bitfury us and would have gotten my miner soon.  My calculations stated that I would get about 25 btc if I mined it a year and didn't upgrade with more H boards.  Who knows if that was even correct.

I changed my mind.  Got a refund ($1300) and bought AMC shares.  Since then I've got my initial investment back and 15 BTC to spread around with other investments.  More than I would have mined in a year, and this was done in a few weeks.  Even if I had like $20k to spend I probably wouldn't buy hardware unless some company came out with a product in hand that shipped with in 48hrs.  Even then I would probably find a way to invest in that company than buy their product.

Invest in some bitcoin stocks and BTC it self is also my recommendation because of my experience. 

[skleven]

If you want to buy any hardware now days, it all comes down to timing. But i still belive KNC is the only way to go now. Because they(ORSoC) have alot to loose if they miss any deadline. It`s a respected ASIC company, who is new to the bitcoinworld. If any other company than BFL had announced the Monarch, that would be the best option. They will not be anywhere near clearing the backlog of todays miners when they estimate shipping of the Monarch.

But i belive piecinitup has a point. AMC shares!

[Xialla]

if you want to be somehow in, just buy bitcoins and wait. or maybe, if you have free/very cheap electricity, try to build litecoin rig. from my point of view, there is no other option.

[superresistant]

if you want to be somehow in, just buy bitcoins and wait. or maybe, if you have free/very cheap electricity, try to build litecoin rig. from my point of view, there is no other option.

If you have free electricity, it is safe to build a script mining rig with GPUs. You can resell the hardware anytime.

Otherwise you should not do it.

[bitcoinarnold]

buy AM stock

AM is past it, they're struggling. Show me something positive about their next Q's