My Mining Rig: A Continuous Post

[Fingerz91]

Hi ladies and gents!

I'm new around here, and purchased my first 3 BTC from Coinbase when they were pegged around $250. I figured it would be a fun way to dive into Bitcoin. I sold them off a little while ago (about a month or so) and used the profit to purchase 6 Saphire erupters, a D-Link usb hub, and a Jalapeno miner from Butterfly Labs. (I have seen the horror stories, but the BTC is already theirs so, no use crying about it).

I have this mini rig set up attached to my Macbook Pro running Maverics 24/7. I do not actively use the laptop, as I am in law school and away most of the day. I worked in IT for 5 years and have a very small knowledge of Java. I was able to compile and run BFGMiner, and get myself up and running on Slush's Pool quickly. I have any profit measured at 0.01 BTC transfering to my Coinbase account. So far, there hasn't been much with just the 6 ASIC miners, but I feel like I'm contributing to the network, and I don't mind.

I intend this post to be a chronology of my rig; how things improve, if and when I purchase or recieve my better mining equipment, etc.

Right now, I have 1.05 BTC sitting in my wallet. I was planning on buying family Christmas presents with it. Any suggestions for a marketplace. If it helps, I am located in the USA.

I hope to hear from the more experienced miners, so I can learn and grow with the network. I like the idea of Bitcoin, and understand that it is supposed to be a currency, not a stock or other investment; my economics background helps with analyzing the charts. If and when Bitcoin is mainstream, it'll be interesting to see if it is pegged against the dollar as a viable alternative.

Thanks for having me!

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[Fingerz91]

Kind of having "seller's remorse" at the new BTC price hovering around $820. I just made another 0.01 BTC from mining though.

[bitcoinminer11794591]

I wish I could have bought BTC at 3BTC at ~ $250 and resold at $800+

You're doing well though - will keep reading your updates

[thehashman]

You might be able to make your money back in 3-6 months (depends on electrical costs and what you paid initially). Honestly I would choose the higher risk of going for a sha-256 alt coin and holding onto it in the long term, like peercoin.

Disclaimer: I haven't actually researched peercoin much, just listing it as an example.

[PenAndPaper]

Take a look at this nice directory of merchants that accept bitcoins
https://bitpay.com/directory#/

[bitcoinminer11794591]

Take a look at this nice directory of merchants that accept bitcoins
https://bitpay.com/directory#/

Thanks for that link

[dmonaldo]

I tried to buy when Bitcoins were at $220, but it took forever to wire the money and I ended up buying at $700. Unfortunate, I know. I missed out on an opportunity to more than triple my money, but the key is to move on.

"I don't have any regrets, because my actions have made me the person that I am today."