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Author Topic: Mining startup 50k budget 2TH min  (Read 628 times)
Clayce
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November 27, 2013, 12:50:38 AM
 #1

Hello, I want to start mining ASAP and need a minimum of 2TH hashing power. I want to get started within the next two weeks at the latest. Obviously CEX.io is the most suggested way, but I don't have 80k+ for 1TH. Every other cloud mining site I checked (cloudhashing.com, bitcoinminingcenter.com) are getting bashed left and right on these forums. Ive actually been in contact with bitcoinminingcenter.com that is suppose to launch its 'phase 1' cloud mining within the week at $5500 per TH, but got scared after searching on here, lol.

Group buys look great but I haven't found any that are going now/soon. Renting hardware and hosting would be a good option too but still cant find much. So please let me know some good options. Appreciate it!!
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vaelrock
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November 27, 2013, 01:18:04 AM
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I'm afraid there is no cheap way to enter the TH game in less than two weeks when starting from 0.

Maybe by lurking the custom hardware section you can find some guys reselling their jupiter Knc miners for an honest amount, or you could get your hand on an good offer in the auction section.

But for those type of deals (no preorder), you can count ~20k$ per TH easily (probably more with today's BTC increased value).

Things like 180GHS card were sold for 4k$ 2/3 days ago for example on this forum, when the BTC was at ~750$
PenAndPaper
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November 27, 2013, 01:28:55 AM
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Keep in mind that however you choose to purchase those 2TH/s, probably you 'll make less btc than buying bitcoins directly. Do your math before investing in mining.  Lips sealed
Clayce
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November 27, 2013, 01:35:24 AM
 #4

Thanks for the replys, your right its not cheap at all right now. I found a cloud mining thing on black arrow that's really expensive, but does fit my criteria. 35k for 1920gh/6mo contract and it says 'starts now', not sure what calculator to trust but at the current diff level it seems like that could mine close to 40btc first month?? Is this completely inaccurate? Any other suggestions are much appreciated, Thanks!

http://www.blackarrowsoftware.com/store/bitfury-cloud-hashing.html
PenAndPaper
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November 27, 2013, 01:56:01 AM
 #5

Thanks for the replys, your right its not cheap at all right now. I found a cloud mining thing on black arrow that's really expensive, but does fit my criteria. 35k for 1920gh/6mo contract and it says 'starts now', not sure what calculator to trust but at the current diff level it seems like that could mine close to 40btc first month?? Is this completely inaccurate? Any other suggestions are much appreciated, Thanks!

http://www.blackarrowsoftware.com/store/bitfury-cloud-hashing.html

It is out of stock. Even if it wasn't you would have made less than 15btc (in six months) with today's price while you can buy more than 35 btc now.
The difference is huge and this is usually how it goes with every investment in mining. You are always better off buying bitcoins instead of mining gear or contracts.
Clayce
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November 27, 2013, 02:15:20 AM
 #6

Thanks for the input. So basically nowadays, its nearly impossible to make a profit from mining? I don't understand how it could be so un-profitable if you just had enough money to invest. What would it take to make 1btc a day on average, at least for like 2-3months?
alxAcid
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November 27, 2013, 02:23:31 AM
 #7

Drop the 50k on BTC instead, and then spend 1 BTC on 2 terrahash in less than a year.

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Clayce
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November 27, 2013, 02:30:18 AM
 #8

lol, I already own quite a lot of btc, but want a solid mining plan as well. Everyone seems so against mining on these forums, but if anyone has any legit suggestions Id like a little input. If theres really NO profitable way to get a hosting/cloud thing going within the next month, then I suppose Ill just wait till Feb/March and purchase some bigger units to run...
Myer12
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November 27, 2013, 03:04:32 AM
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Holy crap if you have 50k to invest in a miner why don't you just buy btc or invest in another type of alt-coin that will probably be a better investment
alxAcid
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November 27, 2013, 04:13:19 AM
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lol, I already own quite a lot of btc, but want a solid mining plan as well. Everyone seems so against mining on these forums, but if anyone has any legit suggestions Id like a little input. If theres really NO profitable way to get a hosting/cloud thing going within the next month, then I suppose Ill just wait till Feb/March and purchase some bigger units to run...


Cloud mining seems sketchy to me; gear-in-hand is exciting. I'd wait until next gen ASICs come out, or order some KNC Jupes for the next shipment. Reselling is also an option with an in-hand miner.


Good luck!

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coinbrewx
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November 27, 2013, 05:11:14 AM
 #11

Don't do it dude.

I'm not trying to troll you, this are my ideas.

I want to do a start-up and ASAP are usually terms that together don't usually work together.
If you are a rich guy that won't mind to lose 50k, do it, but it will be a gamble, a bet, a game that maybe, rarely, eventually will end up in a business. But it won't be a business for a while.

By your words I think this is a decision made very quickly, think twice.

Ok I'll stop being old.
Do what ever you want to do but what I got from your post is that you saw how crazy btc got this week and you have a bunch of cash and thought on mining If I have that amount of cash I'll think on trading just sounds way more fun Smiley

good luck anyways and don't forget to tell us.
closesat315am
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November 27, 2013, 05:27:07 AM
 #12

if you are dead set on getting something going, why not just get a jalapeno off ebay and see how you feel after you watch what it makes and calculate out what the rig would really earn.  it'll still be cool to watch. you could also try day trading LTC over on btc-e for another type of thrill.

DOGECOIN: D6MTLa1aMNHiuSv776FX28RezvhDVPHxFg much wow and thank you
lyynx
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November 27, 2013, 05:31:18 AM
 #13

Yep, agreed, just buy Bitcoins, at the current difficulty rate and the other TH miners coming online in the next month or so, you could never recoup your investment. The real money is in buying and hoarding the coins right now. But if you must, there is a company called Advanced Miners out of Pennsylvania, just google them. They seem to be in a position to deliver what you are looking for, but I can say for a fact that they are currently mining as well, so they may not be willing to part with their machines.

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Clayce
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November 27, 2013, 09:58:36 AM
 #14

Thanks for the replys. Im not really interested in any small scale mining, and like I said I already have a good amount of btc saved up. I only wanted to get into mining to essentially make at least 1btc per day on average, but everyone on here thinks this is completely out of the question given the current difficulty.

So even if I waited to purchase like 4 Neptunes come march, even +10TH wont be profitable?? Also are all these btc profit calculators bogus even taking into account current diff?? Its just cant understand how mining could be that hard to make a profit at, even if you had a large amount of money to initially invest. Anyways, I still want some sort of btc income so if all else fails I suppose Ill just wait till Feb/March units come out.
PenAndPaper
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November 27, 2013, 11:08:24 AM
 #15

Thanks for the replys. Im not really interested in any small scale mining, and like I said I already have a good amount of btc saved up. I only wanted to get into mining to essentially make at least 1btc per day on average, but everyone on here thinks this is completely out of the question given the current difficulty.

So even if I waited to purchase like 4 Neptunes come march, even +10TH wont be profitable?? Also are all these btc profit calculators bogus even taking into account current diff?? Its just cant understand how mining could be that hard to make a profit at, even if you had a large amount of money to initially invest.

If companies sell overpriced equipment the it's hard to make profit.
Also because in this phase the difficulty rises exponentially every miner becomes obsolete in just a few months
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