Hello world

[timvan007]

Greetings everyone. A friend of mine just got me into the bitcoin world a few weeks ago when he needed a partner to purchase hardware and build up his current rigs. This looks to be the place where most knowledge is transferred, so figured I would join in. Looking forward to getting involved in this forum and trying to dig a little more into mining.

Thanks

[wangtangkiki]

Welcome. Mining now is almost useless unless you have a great ASIC. I believe GPU mining is dead. It's sad. You can mine LTC and other coins though.

[PenAndPaper]

Greetings everyone. A friend of mine just got me into the bitcoin world a few weeks ago when he needed a partner to purchase hardware and build up his current rigs. This looks to be the place where most knowledge is transferred, so figured I would join in. Looking forward to getting involved in this forum and trying to dig a little more into mining.

Thanks

Indeed that's the place to be if you are into bitcoin so let us pass some knowledge to you already. Mining in most of the cases is not profitable.
You should start by checking on how the difficulty adjusts over time before making any purchases.

[patriks]

Long time lurker here, finally joined the forum.  Hello Bitcoin world!

[timvan007]

Greetings everyone. A friend of mine just got me into the bitcoin world a few weeks ago when he needed a partner to purchase hardware and build up his current rigs. This looks to be the place where most knowledge is transferred, so figured I would join in. Looking forward to getting involved in this forum and trying to dig a little more into mining.

Thanks

Indeed that's the place to be if you are into bitcoin so let us pass some knowledge to you already. Mining in most of the cases is not profitable.
You should start by checking on how the difficulty adjusts over time before making any purchases.

Thanks for the warning. I tracked it for a few weeks before going in on hardware with him. It seems like it you have enough startup money, it can be profitable. Getting in on low level hardware is definitely a bust at this point, but given lead time, I think $5-10k can still profit with the difficulty increases taken into account. I might take a few months to ROI, but I'm ok with that.

[PenAndPaper]

Greetings everyone. A friend of mine just got me into the bitcoin world a few weeks ago when he needed a partner to purchase hardware and build up his current rigs. This looks to be the place where most knowledge is transferred, so figured I would join in. Looking forward to getting involved in this forum and trying to dig a little more into mining.

Thanks

Indeed that's the place to be if you are into bitcoin so let us pass some knowledge to you already. Mining in most of the cases is not profitable.
You should start by checking on how the difficulty adjusts over time before making any purchases.

Thanks for the warning. I tracked it for a few weeks before going in on hardware with him. It seems like it you have enough startup money, it can be profitable. Getting in on low level hardware is definitely a bust at this point, but given lead time, I think $5-10k can still profit with the difficulty increases taken into account. I might take a few months to ROI, but I'm ok with that.

It will make ROI eventually. The point is that it will not make as much bitcoins as you could 've bought directly instead of purchasing a miner.
That's the common mistake newcomers do when they consider those machines that magically turn electricity into money.

[Coindgr]

Hi, I'm on the boat also...

I'm using [Suspicious link removed] for now, just started few days ago...

[Dogvomit]

Hello,
Just joined the forum. A lot of great information here.
Currently running ASICMiner USB Block Erupters and looking to upgrade to ASICMiner Cubes.

[bitnics]

Hi everyone,
I' m searching for my old bitcoins. Now I'm here and I'm sure, I will found some help in this forum.

cya

[JCR.BRLN]

Hello!

Long time lurker here and an ex CPU/GPU era miner, I've finally decided to take a more active approach.

Traditionally, in order to calculate the economics of your mining business, you'd cross-reference the hashrates of your mining hardware (from a database such as https://en.bitcoin.it/wiki/Mining_hardware_comparison) with a mining efficiency calculator such as http://www.bitcoinx.com/profit/).

You can play around with both systems, to see if what is available to you can be profitable at all, you could be surprised.

[timvan007]

It will make ROI eventually. The point is that it will not make as much bitcoins as you could 've bought directly instead of purchasing a miner.
That's the common mistake newcomers do when they consider those machines that magically turn electricity into money.

Honestly, right now I don't think buying the bitcoins would be profitable. Perhaps waiting a month(?) until the price comes down and then buying in would be worth it. Buying at over $1k is useless though. I've actually been debating the premium for getting hardware right now from BFL for the 500GH $22k. ROI is still a possibility, but a group buy for Jan/Feb is probably a better choice.

[Tomihar]

Hi all.
For bitcoins is too late, but I registered on this forum to learn about other cryptocurrenties. Hope I will.

[timvan007]

Hi all.
For bitcoins is too late, but I registered on this forum to learn about other cryptocurrenties. Hope I will.

Litecoins might be perfect for a budget right now. GPU mining with some cards $300-600 can be simple and easy to get into.

[DarkMavrik]

I am into peercoin and litecoin myself, I am not expanding my bitcoin holdings at the moment. I just think its weird how all of these crypto coins should be independent of each other but if bit sneezes the others fall in value.

[timvan007]

We have GPUs that used to be mining bitcoin currently mining litecoin. It seems to be doing pretty well at the moment.

[PenAndPaper]

It will make ROI eventually. The point is that it will not make as much bitcoins as you could 've bought directly instead of purchasing a miner.
That's the common mistake newcomers do when they consider those machines that magically turn electricity into money.

Honestly, right now I don't think buying the bitcoins would be profitable. Perhaps waiting a month(?) until the price comes down and then buying in would be worth it. Buying at over $1k is useless though. I've actually been debating the premium for getting hardware right now from BFL for the 500GH $22k. ROI is still a possibility, but a group buy for Jan/Feb is probably a better choice.

I know some people saying the same thing when the bitcoin value was at 150$. Guess what? They are still waiting for that dip. Oh and guess again. That dip will never happen.

[litewolf]

Hi, I'm from Colombia, been tranding bitcoins and litecoins for a while. Now I'm looking for advice for nextcoins and hopefully somebody who can sell me some.

[litewolf]

Hi, if someone can PM manrus tell him I will buy some Nxt, I can't contact him because of my restrictions.

[timvan007]

I know some people saying the same thing when the bitcoin value was at 150$. Guess what? They are still waiting for that dip. Oh and guess again. That dip will never happen.

I agree it's not going to dip down to what it was before. I hope it doesn't either. I'll give it a couple weeks to stabilize after the govt news dies before buying in. Even if that means it stabilizes at 1200-1300 by then, instead of going back down after hype.

[DragonLittle]

Welcome hope to see you around the forum