I have $40,000 to invest

[Kaega]

Buy one singe usb erupter from Canary.  You can run it and look at the blinky-light.

Take the rest and buy BTC.

Reasoning: There are LOTS of big pockets funding "mining operations" and lots of players potentially bringing hardware in Q4 2013 and Q1 2014. 

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[greaterninja]

For 2015   I estimate hash rate to hit over 5000TH/s

If you are gonna invest... you need to partner with a bulk asic deal or get someone to build an asic / fpga farm for you.

I started early 2013....I am just starting to make ROI.   Expect to be in debt 3 times longer than calculations predict or invest in BTC very wisely.

[thedarkdad3]

editzeditzeditz

[thefunkybits]

Hey folks, I have a spare $40k

I want to know if its worth it to buy a mining rig and if so, what should I buy and how do I run it?

Or is it better just to put the cash into bitcoins and just sit on them for a few years?

I want to try mining just for fun, but am a complete noob.

Someone please enlighten me.

Note, this is cash that I can afford to lose, but obviously I'm looking for a profit

Why not invest instead in a mining company?

Thats what im doing atm

I would get some shares from ActM

https://bitfunder.com/asset/ActiveMining

Check the last PR from eAsic

http://www.easic.com/vmc-uses-easic-to-achieve-24-756-ths-bitcoin-miner/

Active Mining FAQ:

http://www.activeminingbtc.com/

Yes I would agree, Activemining is going to be a big company and shares are cheeap right now

Heres a bunch of info!


News:
http://www.easic.com/vmc-uses-easic-to-achieve-24-756-ths-bitcoin-miner/
http://www.coindesk.com/vmc-closes-deal-for-28nm-asic-chips-in-24-5-thsec-miners/
http://thegenesisblock.com/easic-announces-24-ths-hash-fast-miner-activemining-shares-move-70/

Official Threads:
https://bitcointalk.org/index.php?topic=252531.0
https://bitcointalk.org/index.php?topic=254930.0

Shares:
https://btct.co/security/ACTIVEMINING
https://bitfunder.com/asset/ActiveMining

[||bit]

Hey folks, I have a spare $40k

I want to know if its worth it to buy a mining rig and if so, what should I buy and how do I run it?

Or is it better just to put the cash into bitcoins and just sit on them for a few years?

I want to try mining just for fun, but am a complete noob.

Someone please enlighten me.

Note, this is cash that I can afford to lose, but obviously I'm looking for a profit

If you're speaking of Butterfly labs mini-rig, then absolutely no. The only mining hardware worth looking at right now is BitFury 55nm hardware and 28nm hardware (my choice would be Cointerra). That said, what you can do is this: Order Bitfury or Cointerra hardware now. When you receive it, then sell it immediately. You will most likely be able to mark it up 50% and find a buyer pretty fast. You could also mine with it, but reselling for a profit isn't a losing path.

Other than that, then just buy bitcoin. It should go up eventually as bitcoin is more adopted widely (i.e. more demand for bitcoin builds).

A third option to evaluate is to put some funds to work in a mining operations (like Lab Rat Mining) [disclosure: I have an interest in Lab Rat Mining] and receive dividends on company "shares" or "bonds" from the company doing the mining for you. And if the company does well, you can resell those "shares" or "bonds" at a higher price, but of course it carries risk like any other investment. I've been following Lab Rat Mining pretty closely, and it looks to have decent potential in it's start-up phase, so far.

[bcp19]

For 2015   I estimate hash rate to hit over 5000TH/s

If you are gonna invest... you need to partner with a bulk asic deal or get someone to build an asic / fpga farm for you.

I started early 2013....I am just starting to make ROI.   Expect to be in debt 3 times longer than calculations predict or invest in BTC very wisely.

2015?  There are more than 5PH(est closer to 8PH) of current pre-orders that are supposed to be delivered by the end of 2013.

[polarhei]

40K USD on hand. You better invest on Scrypt mining instead of SHA256 mining.

I think, the amount is enough to build the Oil fish's oil (Mineral oil or Vegetable oil) array.

Each being should be executed with many 7970s.

If unsure, You may invest on the given company, Perhaps you should discuss this with cloudhashing as 1 Thash/s may come reasonable. I think.

[420]

What a fantastic community; all these guys jumping in to help

My advice/opinion would be to buy btc mainly; its been sideways for a while it's about time to have a good sustained rally

but diversification is best; so maybe use 10k to buy some mining equipment from one of the best producers, avalon or asicminer, and the rest just purchase btc

oh and this should be in the 'mining support' section:
https://bitcointalk.org/index.php?board=40.0

[||bit]

What a fantastic community; all these guys jumping in to help

My advice/opinion would be to buy btc mainly; its been sideways for a while it's about time to have a good sustained rally

but diversification is best; so maybe use 10k to buy some mining equipment from one of the best producers, avalon or asicminer, and the rest just purchase btc

oh and this should be in the 'mining support' section:
https://bitcointalk.org/index.php?board=40.0

Can you justify recommending to order either avalon or asicminer hardware at this time? What would be the time to ROI for either hardware even if received today?

Test your idea here:
http://mining.thegenesisblock.com/

[joshv06]

My partner and I invested 70k in HashFast

[||bit]

My partner and I invested 70k in HashFast

You got a deal that is no longer available to the person that started this thread. All HashFast pre-order spots are filled. Your deal includes a ROI guarantee that could provide you with 400% more hashing power. I don't think this guarantee will come with subsequent orders.

[420]

What a fantastic community; all these guys jumping in to help

My advice/opinion would be to buy btc mainly; its been sideways for a while it's about time to have a good sustained rally

but diversification is best; so maybe use 10k to buy some mining equipment from one of the best producers, avalon or asicminer, and the rest just purchase btc

oh and this should be in the 'mining support' section:
https://bitcointalk.org/index.php?board=40.0

Can you justify recommending to order either avalon or asicminer hardware at this time? What would be the time to ROI for either hardware even if received today?

Test your idea here:
http://mining.thegenesisblock.com/

both those companies showed they can make hardware faster than other companies

no one knows the btc price so it's always a gamble with ROI

no one talks about a damn timeframe when they mention ROI. it's like everyone expects to get their month back in 6 months; that's ridiculous. If you only plan to fuck with btc for 6 months, you don't get much respect from the veterans here.

[joshv06]

My partner and I invested 70k in HashFast

You got a deal that is no longer available to the person that started this thread. All HashFast pre-order spots are filled. Your deal includes a ROI guarantee that could provide you with 400% more hashing power. I don't think this guarantee will come with subsequent orders.

Thanks, we are in the first 350 orders. I guess if I were the OP, I would go with Cointerra or Xcrowd. Although I haven't really been keeping up with the "politics" of them. Don't know if they're delayed or what's up. Cointerra seems promising.

[||bit]

What a fantastic community; all these guys jumping in to help

My advice/opinion would be to buy btc mainly; its been sideways for a while it's about time to have a good sustained rally

but diversification is best; so maybe use 10k to buy some mining equipment from one of the best producers, avalon or asicminer, and the rest just purchase btc

oh and this should be in the 'mining support' section:
https://bitcointalk.org/index.php?board=40.0

Can you justify recommending to order either avalon or asicminer hardware at this time? What would be the time to ROI for either hardware even if received today?

Test your idea here:
http://mining.thegenesisblock.com/

both those companies showed they can make hardware faster than other companies

no one knows the btc price so it's always a gamble with ROI

no one talks about a damn timeframe when they mention ROI. it's like everyone expects to get their month back in 6 months; that's ridiculous. If you only plan to fuck with btc for 6 months, you don't get much respect from the veterans here.

Those companies can make and ship a million units a day, but as the difficulty get's higher, there could be zero return on investment in all time frames. The only way to counter the observed increase rate in difficulty is progressively cheaper & more efficient equipment and/or much higher bitcoin price. Avalon and Asicminer are among the least efficient asic equipment out there (BFL and BitFury both ship and have better efficiency). With a more conservative monthly difficulty increase of 60% (it's averaging 70% now) and bitcoin valued at $250 (double the current price) you would STILL be making a losing investment in both Avalon and Asicminer for at least the next year with no hope for ROI. If you plan to break even in one year due to bitcoin increasing, then you should just buy bitcoin instead of turning your wheels to catch up with your ass.

If you can't get some serious leveraged deals, then the best thing is to hold bitcoin for now, imo.

As for respect of bitcoin enthusiasts, that has zero bearing on the wisdom of an investment.

[DyslexicZombei]

My partner and I invested 70k in HashFast

You got a deal that is no longer available to the person that started this thread. All HashFast pre-order spots are filled. Your deal includes a ROI guarantee that could provide you with 400% more hashing power. I don't think this guarantee will come with subsequent orders.

Heh, I agree. cypherdoc kind've spilt the beans a bit that they're prepping to trigger the MPP. John S. hasn't mentioned anything official yet. Something about HashFast being able to do it because they went: small?  

So in the near term, bare rigs with cheap high quality chips could be a winner with HF & CT most liking having to trigger their MPP...which is why it looks like me & several other miners are chipping in to help Barntech to do some bare rigs that just need chips from HashFast and Cointerra. I have this dastardly plan where we offload the customer service and education stuff to us so he can focus on getting product out the door faster instead of answering questions, handling sales, refunds, basic tech support, etc..

Anyone else interested in helping out please let us know. We've got a handful of vetted members so far willing to help out Barntech in whatever way we can help:

You can also leave your first reservations on that thread. We're aiming for speed to market w/ the best quality parts as soon as tech specs/schematics are available.

Thirdly, Barntech was talking about a $650 32GH/s unit also being a possibility, if that's interesting as well please leave your comments and/or reservations on this thread: https://bitcointalk.org/index.php?topic=288101.0

TL;DR: If a HashFast or Cointerra bare rig, and/or $650 32GH/s sound interesting, please let Barntech & other system builders know in the thread link above.

[Zeek_W]

Invest by betting on Satishi Dice 
Just kidding!

You could buy and hold a chunk of BTC, and also try some BTC market trading? Would probably get a better return that mining in the long run.

[01BTC10]

If you're tempted about trying trading, since the majority of traders lose on the long run I would put 70-90% of my holding on several papers wallet that I wouldn't touch. Maybe you could also invest some on https://www.havelockinvestments.com the platform I trust the most.

[ralree]

This is significantly less than the average .15 to .18 that most americans pay, and in the EU rates can exceed .30/kwh.

Um not many people in the US pay that much for power.  Most people fall into the 0.11 to 0.14 category.

http://www.eia.gov/electricity/monthly/epm_table_grapher.cfm?t=epmt_5_6_a

[mgio]

Don't mine.


Use it all to buy BTC.

Invest those btc in bonds with a guaranteed yield like Xbond, ukyo.loan, and great.loan all of which pay 18.5% APY. Invest in coinlenders too although I consider that more risky.

[fivesky55]

What a fantastic community; all these guys jumping in to help

My advice/opinion would be to buy btc mainly; its been sideways for a while it's about time to have a good sustained rally

but diversification is best; so maybe use 10k to buy some mining equipment from one of the best producers, avalon or asicminer, and the rest just purchase btc

oh and this should be in the 'mining support' section:
https://bitcointalk.org/index.php?board=40.0

Can you justify recommending to order either avalon or asicminer hardware at this time? What would be the time to ROI for either hardware even if received today?

Test your idea here:
http://mining.thegenesisblock.com/

both those companies showed they can make hardware faster than other companies

no one knows the btc price so it's always a gamble with ROI

no one talks about a damn timeframe when they mention ROI. it's like everyone expects to get their month back in 6 months; that's ridiculous. If you only plan to fuck with btc for 6 months, you don't get much respect from the veterans here.

Hi Man,
I love your quotes! And I love what you can see in the future! Most people here seems not really love in bitcoin, what they are thinking is just a quick getting rich schemes in a very short time! If so many experts that find ROI is so difficult to archieves, why they are still so donk to invest so much money to build farm or data centre? Invest in a business and hoping 6 months to ROI, it's got to be kidding! That's call quick get rich schemes or ponzi, not investment in a long term business!


Cheers!