What miner should I be using?

[Ejay424]

Hello, I've just got into bitcoin mining and want to invest more into it. I was going to start on the butterfly labs jalapeno, but people on another forum have told me that it's not going to work out for me, something to do with difficultly. (Don't know much about it) Could somebody help me determine if I will be making profit or not. I've been looking at online bitcoin calculators, mining at 5000Mh/s should get me $13 a day, so in a month, I should have my money back. (Miner = around 250-300) So, what do you guys think? Do I need to look at upgrades or something? (tight budget :/) Also, I've heard of time kind of over clocking for the butterfly labs jalapeno, for like 8Gh/s

Thank you for ready!

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[skleven]

First you need to learn ALOT about bitcoin and mining. But to get some good estiments around hardware, you can use this calculator.

http://mining.thegenesisblock.com/

[Ejay424]

I'm getting this: http://mining.thegenesisblock.com/a/cf59c98e63 Is this a good sign? I mean, the number is going up.

[skleven]

It`s not good when you`re still $78 in the red after one year. And that is if you had recived the unit today. You have to wait atleast 2-3 months for any BFL product. And then it looks like this:
http://mining.thegenesisblock.com/a/96f0f4afde

BFL is NOT the way to go. Even blockeruptors is a better choice then. And with a limited budget, it`s the only choice..

[jamesc760]

At this point in time, you can't expect to go into bitcoin mining if you have a tight budget. Even if you get a USB Erupter for 0.1 (coupon price), its low hashrate will make you wish you hadn't wasted your money on it. Just keep buying a fraction of a bitcoin at regular intervals like once a week or so.

[zackclark70]

have you conciderd mining altcoins ? there is plenty of mony to be made there

[frankenmint]

Hello, I've just got into bitcoin mining and want to invest more into it. I was going to start on the butterfly labs jalapeno, but people on another forum have told me that it's not going to work out for me, something to do with difficultly. (Don't know much about it) Could somebody help me determine if I will be making profit or not. I've been looking at online bitcoin calculators, mining at 5000Mh/s should get me $13 a day, so in a month, I should have my money back. (Miner = around 250-300) So, what do you guys think? Do I need to look at upgrades or something? (tight budget :/) Also, I've heard of time kind of over clocking for the butterfly labs jalapeno, for like 8Gh/s

Thank you for ready!

honestly this is one of those things you need to spend time and effort figuring out yourself...would you take all your money to a drug dealer and say...which drug can I resell for the most profit?  You really think he would tell you?  I think he would sell you HIS most profitable drug instead.


When they say 2-3 months out they are lying to you...its more like 9-15 months out.

[skleven]

Hello, I've just got into bitcoin mining and want to invest more into it. I was going to start on the butterfly labs jalapeno, but people on another forum have told me that it's not going to work out for me, something to do with difficultly. (Don't know much about it) Could somebody help me determine if I will be making profit or not. I've been looking at online bitcoin calculators, mining at 5000Mh/s should get me $13 a day, so in a month, I should have my money back. (Miner = around 250-300) So, what do you guys think? Do I need to look at upgrades or something? (tight budget :/) Also, I've heard of time kind of over clocking for the butterfly labs jalapeno, for like 8Gh/s

Thank you for ready!

honestly this is one of those things you need to spend time and effort figuring out yourself...would you take all your money to a drug dealer and say...which drug can I resell for the most profit?  You really think he would tell you?  I think he would sell you HIS most profitable drug instead.


When they say 2-3 months out they are lying to you...its more like 9-15 months out.

It also depends on timing. First in line Avalon and BFL customers did make a huge chunk of money. But there is another factor in the calculations also. Bitcoin can stay stable, crash bigtime or skyrocket. So if you are not a gambler, and/or can`t afford loosing all your investments, Bitcoin is not for you.

I`m actualy putting together a GPU-rig to mine alt-coins trough the winter. Even if it (at some point) use more power than it makes up for in $, it`s still a good alternative for electric heating.

[polarhei]

You better use AMD GPU for a while as Bitcoin has one major problem unless you have plenty amount of money to follow up due to the scale.

I am currently using HD7750 on scrypt mining mission while Providing service for other people, P2Pool Bitcoin mining pool portal.

Also, You should buy mining contracts (with Revenue reinvestment) to follow up as You cannot fight your own due to lack of much money, You will build your own farm later on. I am planning on this, but not fully ready. I think I will need to do more on cooking oil first.