Start-up help regarding the ASIC Miner?

[metalninja]

HI,
I am trying to set-up my initial mining set-up. I was hoping someone could advise a little. I was thinking to buy one 330 mhash/s Block erupter I don't know if its the right start. Also I don't know what will be the mining rate. Like how many bitcoins would I get for having that single erupter. I was hoping also if someone could guide me from where should I get the erupter which is the right kind. All help is appreciated. Thanks in advance for taking the time to help 

[Jojamon]

I am also getting into the BTC market for the first time. A single 330 mh/z block would not yield enough income based on the current difficulty and cost to run it. (There are calculators out there such as this. http://www.bitcoinx.com/profit/ )

From the research I've gathered, you'll need to start with a minimum of 10gh/z and a good pool to sit in. But this is all theory since I have no hardware currently. (This is just my personal opinion and I am far from a pro BTC miner). It also seems that this was a bad time to start seeing as ASIC device prices have skyrocketed (In good reason, BTC went up so does the equipment designed to mine them!)

You can look into cloud hashing solutions if you don't want to have the hardware overhead. (I am looking into both options). Hope this helps guide you some what!

[metalninja]

thanks for the advise that really helped. I would wait now before buying an ASCI erupter miner. Where do you think I can get a 10gh/s hardware or cloud system?

[AdamCharles]

Butterfly labs sell some reasonable priced set ups..
50gh/s would probably be the minimum speed i would run or it wont be worth while.
Im new to this mining game aswell so please dont take what i say as gospel.

Im thinking of purchasing a 110gh/s setup and joining a pool.
Should hopefully make around the $100-$120usd a day in BTC using this set up..
This will obviously drop as the difficulty rises.

Because there has been a mass influx of miners the difficulty rates have risen
at an enormous rate making mining that much more difficult.
Setups that were reasonable 18months ago are now useless because of the rise
in difficulty.

Do as much reasearch as you can and educate yourself..

[silentempest]

Its probably not worth it. I sorta jumped the gun and bought a block erupter and never got around to actually using it. Will most likely sell it to someone else.

[metalninja]

Butterfly labs sell some reasonable priced set ups..
50gh/s would probably be the minimum speed i would run or it wont be worth while.
Im new to this mining game aswell so please dont take what i say as gospel.

Im thinking of purchasing a 110gh/s setup and joining a pool.
Should hopefully make around the $100-$120usd a day in BTC using this set up..
This will obviously drop as the difficulty rises.

Because there has been a mass influx of miners the difficulty rates have risen
at an enormous rate making mining that much more difficult.
Setups that were reasonable 18months ago are now useless because of the rise
in difficulty.

Do as much reasearch as you can and educate yourself..

I am trying to learn as much as possible before getting in. I was thinking of getting a erupter miner to start but I am learning now that its pretty low return for the money spent. Cloud seems more viable option. Because it doesn't require a big investment. Like having a rig setup. Thanks for putting me on the right track.

[Divino]

I am setting up a minig rig too, and by now I am going to buy a jalapeno from butterfly labs. 5gh/s each one, but for a price that I can afford. About the pool, I suggest the p2pool.

[metalninja]

I saw on butterfly labs the  Jalapeno is sold out. So that means unless you already ordered you wont be getting it anytime soon. Also does anyone know when butterfly laps cloud mining will be available its still in pre-order stage.

[CryptoCoinSolutions]

I'm using some of my research time to maintain a watchful eye on the development of an ASIC solution for mining Scrypt coin, and I'm pretty sure it will come out of Chinese research and development. Litecoin on okcoin is being very well received, even though it is correcting at this time that I write this. China's Litecoin correction is lagging behind the U.S. and typically more western exchanges selling.