Wait for 2months for a BFL 5GH/s or buy Erupters now?

[bomberb17]

Hello, I am fresh starting on mining and I want to invest about $300 on ASIC mining hardware. I am between the $270 5GH/s ASIC from BFL and 5x (maybe 6 ) erupters at 330MH/s and around $47 each.I called BFL and they said that even though they are now speeding up their production (no more 6 month waits), if I place an order now it can take 2months, maybe more. Assuming the Bitcoin price remains the same, will this investment worth, taking the difficulty increase into account? Or should I go now for the erupters which are ready to ship? (which are less effective, adding up to 2GH/s for 6x)?

[rumbitla]

Rather buy Bitcoin for $300.

This will give you 2.31BTC at the moment, more than your little Jalapeno or USB Block Eruptor will ever mine.

[DeathAndTaxes]

BFL has been making delivery promises for over a year.  I wouldn't trust any timeline they give.  Maybe if you double it and add three months it might be correct.   

[murraypaul]

Hello, I am fresh starting on mining and I want to invest about $300 on ASIC mining hardware.

Invest is really the wrong word.
An investment is something you calculate should give you a positive return on your money.
Buying USB Block Erupters is exactly the opposite of that.
Each BE will produce on average $0.30 per day mining Bitcoin.
Assuming your electricity is free, and Bitcoin difficulty were to never rise again, at $47 each, they would take about 5 month to pay back what they cost you.
In reality, difficulty will continue to rise ever two weeks (or less), and mean that they will most likely never provide a positive return.
And as far as buying pre-ordering from BFL, I would have a serious read of the various threads detailing their past performance, and see if you really believe they will deliver something to you in 2 months.

[live627]

ROI is pretty much non-existent for the erupters. The BFL isn't much better. You'll lose out either way, assuming the BFL wno't get to your doorstep for two months, what with the exploding difficulty and all.

[ArvinSloane]

This mining calculator will give you an idea how valuable time is given the rising difficulty of Bitcoin mining: http://mining.thegenesisblock.com

[brain]

 

[HighCommander]

Don't waste $ on little mining hardware, it's pretty much dead now. Suggestion by rumbitla is the way to go. Buy btc instead.

[Singlebyte]

Love watching this thread.  People with under 5 posts giving advice.  Lol....gotta love it.

[johben]

I have 0 posts! May I advice too???
Despite posts count those people are right. You will never see ROI neither with BFL nor Erupters. Better to speculate with BTC value.
In asic-gambling word it is crucial to have it on time. BFL prooved to not deliver on time (over a year delay lol)
And erupters are just overpriced.

[Dreadmand]

Sorry to burst your bubble but you wasted your money at BFL. My advice will be to force a refund with Paypay. If you used them, you have 45 days from your payment date to do so. And if you used your credit card through paypal you may have 60-90 days from your credit card provider to do so. If you are just starting small buying bitcoins will be the best ways to go. All current mining hardware below $3000, unless you have them in hand, will not make back the money they cost because of the current difficulty increases. 

[Singlebyte]

I have 0 posts! May I advice too???
Despite posts count those people are right. You will never see ROI neither with BFL nor Erupters. Better to speculate with BTC value.
In asic-gambling word it is crucial to have it on time. BFL prooved to not deliver on time (over a year delay lol)
And erupters are just overpriced.

Never said the advice new people were giving was bad.  It is just funny seeing new forum members trying to help out their fellow bitcointalk friends!

[HighCommander]

Singlebyte,

Funny, right? I'd say post count doesn't always show if a member is new or not. In our case, you were registered back in Apr '13, and I was here since July '11. Just sayin 

[Singlebyte]

Singlebyte,

Funny, right? I'd say post count doesn't always show if a member is new or not. In our case, you were registered back in Apr '13, and I was here since July '11. Just sayin  

EDIT

Don't want to debate "5 post" Highcommander.  Don't want to hijack thread and get off topic.

[mtree5]

So, I've been a long time bitcoiner, but don't post at all. I've actually received my Jalepeno and the advice I can give is to not buy from BFL right now. A fellow friend of mine purchased his Erupters less than a month ago and has already received them. In terms of ROI, you need to do your cost calculation on whether it is worth it according to your power costs, initial investment and whether your erupters can turn over a profit at the current difficulty levels.

[happyagnostic]

Long time lurker, first time poster as well.

BFL was ahead of the curve for about 5 months. With the impending difficulty and the network reaching 2 PH/s by the end of the year, unless you receive your Jalepeno today you will NOT break even unless you mine altcoins, and even then, you're going to be mining for a long while to turn a profit.

Honestly, I think BFL is riding out the ignorance of newbies to continue buying any of their products because if you order any of them today you will NEVER break even.

Want to make money? BUY BITCOINS WHEN THEY ARE LOW AND THEN SELL THEM WHEN THEY ARE HIGH.

[monbux]

Don't waste $ on little mining hardware, it's pretty much dead now. Suggestion by rumbitla is the way to go. Buy btc instead.

Buying BTC will be more profitable lol.  You can try mining Altcoins though, I know there are some good ones.

[imamanandyou]

I'd say post count doesn't always show if a member is new or not.

This. Here are a lot of lurkers.

[Singlebyte]

I'd say post count doesn't always show if a member is new or not.

This. Here are a lot of lurkers.

Its good to see some of you long term lurkers finally coming out of your shell and starting to post!  Your contributions to the forum are appreciated.

[asciimo]

I got both. I ordered a Jalapeño back in March, and BFL is currently shipping half way into February.  I might actually see it by the end of September.  While waiting, I decided to buy a Block Erupter off eBay.  That little sucker has been mining on and off for a couple weeks on various machines, finally in an Asus eee PC netbook.  It's earned a little over $3 USD.

Do I care about my ROI?  Not really.  Do I regret spending money on small ASICs? Nope.  I started mining with the GPU on my iMac, then the GPU on a high-end gaming rig.  I've joined various pools, and collected some Namecoin along the way.  I've learned a ton about Bitcoin in the past three months and I will continue to mine indefinitely because it's interesting.  An who knows, with its deflationary trajectory the tiny amount of BTC I'm mining could actually be worth something someday.