Announcement: Bitmain launches AntMiner solution, 0.68 J/GH on chip

[pjviitas]

Welcome to mining.

The first question you need to ask yourself is how much Bitcoin per day you want.  The more Bitcoin you want, the more you will need to spend on hardware.

The second thing is to flip your miners on E-bay as soon as they can't keep up.  I have pretty well broke even on hardware so far.

Once you have some kind of plan that works for you then you can start increasing how much Bitcoin per day you want.

Miners with an attitude of "I want enough Bitcoin to allow me to do nothing all day" don't get very far.

Greed and laziness are not conducive to profitable mining.

+1
If you want to make money, you have to spend money -  and time!

Thank you both for your suggestions.
I am not really sure, really: aside from the clear feeling that "I am late", I am trying to make some sense of what I see.
The U1 was just really a trial to see what does it take, how does it feel ...
Obviously, running a PC or even a laptop so that a 2W USB key does its job makes little sense. I would need to get quite a few more of these things, but then you realize that the cost/GHs is much higher than on the S1, which is also to be expected. That's when I started making some calculations and things got complicated, as I tried to explain.
I understand this is a speculative investment, so i understand there's a noticeable risk attached to it, but being barely able to break even doesn't seem quite attractive. True, I could sell the HW on eBay as soon as it becomes obsolete and ... hope that somebody that can't use a calculator buys it.
Still, it is scary that two online calculators provide such glaring different results.

Also, I thought: OK, if I look at http://bitcoinwisdom.com/bitcoin/calculator, the Bitmain S1 is not a good option, but the Teraminer IV will give me a huge return on investment. Nice ... but wait, the machines are sold out and either you spend a fortune on eBay, or you wait till May/June for a new batch. But if I start mining in May/June, that machine too becomes not profitable.
You realize that not being able to break even on a $6000 machine is no fun ...

So have much Bitcoin a day/week/month would you be happy with?

Dude as humans we are greedy so there's never enough.
True story!

Its simple maths really.

Right now to earn 1BTC/month you need about 300GH/s...if you want 1BTC/day them be prepared to pay a lot for gear.

Also be prepared to sell a lot of gear while you can still get a decent price for it.

Mining is work...you get out of it what you put into it...if your greedy be prepared to be constantly buying and selling equipment with no peace.

[Swimmer63]

mate, go advertise some else were, they have may batch and april, here today you order, and in 2 days they ship your miner, go hold your money in a product, that you are not sure you will get, or when you will get it.
so when someone will say deliver upuon order, no pre orders, come and say that .

That goes double for me!
 

[YankeeDDL]

mate, go advertise some else were, they have may batch and april, here today you order, and in 2 days they ship your miner, go hold your money in a product, that you are not sure you will get, or when you will get it.
so when someone will say deliver upuon order, no pre orders, come and say that .

That goes double for me!
 

I don't quite understand the 1st message: are you referring to my post? I don't see how I could be possibly advertising anything, since I am stating that according to the calculators available online, there are no miners on the market today that allow a decent return on investment.
I am merely seeking some help to try to make some sense of major differences between the calculator's results.

[S.Z.]

Hi. Anyone got this miner already?

My miner shipped 8february, but i have question. Is the shipping free or not?

[meornot69]

Hi. Anyone got this miner already?

My miner shipped 8february, but i have question. Is the shipping free or not?

the shipping is free, but you need to pay Custom Taxes acording to your conutry.

[S.Z.]

the shipping is free, but you need to pay Custom Taxes acording to your conutry.

Thanks. What price bitmain writes in customs declaration?

I asked to write about 200-300$. Then customs will not have any questions and no taxes for this item.

[Biffa]

the shipping is free, but you need to pay Custom Taxes acording to your conutry.

Thanks. What price bitmain writes in customs declaration?

I asked to write about 200-300$. Then customs will not have any questions and no taxes for this item.

You guys are friggin nuts talking about customs charges and declared values in an open forum. 

[miter_myles]

the shipping is free, but you need to pay Custom Taxes acording to your conutry.

Thanks. What price bitmain writes in customs declaration?

I asked to write about 200-300$. Then customs will not have any questions and no taxes for this item.

You guys are friggin nuts talking about customs charges and declared values in an open forum. 

Snowden has already provided the info anyway

[roy7]

I'm glad this isn't an issue on USA imports since, if asked, I'd tell them the truth and pay the proper fees.

[ineedit]

I'm glad this isn't an issue on USA imports since, if asked, I'd tell them the truth and pay the proper fees.

I tried telling the truth once...Yes dear, your arse does look fat in that....won't do that again!

[freebit13]

I doubt there's anything wrong with the customs declaration, it could well be the cost they are producing the units for, they could be making a lot more profit than anyone thinks. They have shipped 100's... probably 1000's of units without any problems. Do you think they would risk it?

[moesab]

Hiya,

Mine was shipped the 8th of Feb and I received them today. Paid 44.20GBP Duties and Taxes. 2 units.

[S.Z.]

moesab, thanks for answer.

Please tell what price was writen in you customs declaration? And what item description?

[jelin1984]

I ordered at 07-02-2014 and still not shipping

[mchu168]

Welcome to mining.

The first question you need to ask yourself is how much Bitcoin per day you want.  The more Bitcoin you want, the more you will need to spend on hardware.

The second thing is to flip your miners on E-bay as soon as they can't keep up.  I have pretty well broke even on hardware so far.

Once you have some kind of plan that works for you then you can start increasing how much Bitcoin per day you want.

Miners with an attitude of "I want enough Bitcoin to allow me to do nothing all day" don't get very far.

Greed and laziness are not conducive to profitable mining.

+1
If you want to make money, you have to spend money -  and time!

Thank you both for your suggestions.
I am not really sure, really: aside from the clear feeling that "I am late", I am trying to make some sense of what I see.
The U1 was just really a trial to see what does it take, how does it feel ...
Obviously, running a PC or even a laptop so that a 2W USB key does its job makes little sense. I would need to get quite a few more of these things, but then you realize that the cost/GHs is much higher than on the S1, which is also to be expected. That's when I started making some calculations and things got complicated, as I tried to explain.
I understand this is a speculative investment, so i understand there's a noticeable risk attached to it, but being barely able to break even doesn't seem quite attractive. True, I could sell the HW on eBay as soon as it becomes obsolete and ... hope that somebody that can't use a calculator buys it.
Still, it is scary that two online calculators provide such glaring different results.

Also, I thought: OK, if I look at http://bitcoinwisdom.com/bitcoin/calculator, the Bitmain S1 is not a good option, but the Teraminer IV will give me a huge return on investment. Nice ... but wait, the machines are sold out and either you spend a fortune on eBay, or you wait till May/June for a new batch. But if I start mining in May/June, that machine too becomes not profitable.
You realize that not being able to break even on a $6000 machine is no fun ...

So have much Bitcoin a day/week/month would you be happy with?

Dude as humans we are greedy so there's never enough.
True story!

Its simple maths really.

Right now to earn 1BTC/month you need about 300GH/s...if you want 1BTC/day them be prepared to pay a lot for gear.

Also be prepared to sell a lot of gear while you can still get a decent price for it.

Mining is work...you get out of it what you put into it...if your greedy be prepared to be constantly buying and selling equipment with no peace.

This is unfortunately the truth.  And for anybody who has sold thousands of dollars of gear on eBay, for fear of the dreaded chargeback, they know full well that there is no peace for weeks after the sale.

[somnophore123]

hey guys,

would love some helpful insight on a few questions in regards to mining and the actual staying current on hardware.

I've noticed many people stating they sell their hardware on ebay.  I guess my main questions are as follows:

1. how do you tell when your hardware needs to be updated? 

2. are you selling at a loss on ebay or what you paid for usually to invest in a new machine?

3. I'm assuming hardware becomes non profitable due to difficulty increase, but if anyone could give more elaborate answer on specifics it would be greatly appreciated.

thanks in advance!

[BuildTheFuture]

4. How do you avoid getting ripped off by buyers filing fraudulent claims via Ebay/Paypal to get their money back even though they received the miner.

Good luck

[pjviitas]

4. How do you avoid getting ripped off by buyers filing fraudulent claims via Ebay/Paypal to get their money back even though they received the miner.

Good luck

Delivery Confirmation

[Beastlymac]

4. How do you avoid getting ripped off by buyers filing fraudulent claims via Ebay/Paypal to get their money back even though they received the miner.

Good luck

A tracking number.

[Moebius327]

4. How do you avoid getting ripped off by buyers filing fraudulent claims via Ebay/Paypal to get their money back even though they received the miner.

Good luck

I only accept wire transfer and send the miner after I receive the money.