Mining Rig for the newbie

[goggles1200]

So I got into bitcoin mining not too long ago and had a few Asic 333mh/s, Red fury 2.2Gh/s, and Butterfly Labs 5-8 Gh/s miners that I just recently sold. I'm looking at getting a new mining rig, but most of the bigger ones are on preorder till March/April. Any suggestions on what to get in the mean time and what to get down the road?

I was thinking 60gh BFL for now and getting a Baby Jet from hashfast.

Thanks.

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[takagari]

This sort of post is put up daily. Spoon feeding seem's to be what this forum is about.

1. If your considering BFL, you know nothing and need to do some reading. Say any thread in this section.

2. Pre-Order is the ONLY way to make an ROI with mining, Anything forsale in stock now will be to much money an dlikely without a huge BTC jump, never ROI. If you buy Anything BFL, you'll never see the product before it's useless.

3. Right now I'd invest in BTC, maybe hit up DZ Miner Coop and buy a few share's in the mining rig's.

These day's rigs are server grade, and thus a pain in the ass to run at home. For a noob, your better off investing in BTC, or a mining contract.

The fact you considered BFL tell's me you need to do A LOT of reading..

[Viscera]

I think it's hard to go past cloud mining here

https://cex.io/r/1/viscera/0/  (My referal link for cex.io, let me know if you use my referral link and I'll be sure to find some appropriate way to thank you)

The cost is similar but the set up time is NIL and the returns are similar to having your own machine + the resale value is better than traditional "Hardware". Although my resale value could go down, there's even a small chance my resale could be similar to my buy price depending on my time frame.

I've seen some people giving horror stories about cloud mining at cex.io (using the referral link is appreciated thanks) so I would clarify that I think you need to have a minimum GHS of at least around 50 to be sure it's going to pay off, smaller amounts may be eaten up by the maintenance costs (electricity etc)

I will disclose the obvious, I will get paid for referrals if you sign up, I can honestly say I would recommend them anyway. They've been around for a while now too, developing a good track record.

https://cex.io/r/1/viscera/0/

[goggles1200]

I've been reading up on group buys and have been looking at it, but most of them want BTCs as payment, so it goes back to how do you get BTCs without mining them? Paying someone 20% more than what they are worth on localbitcoins? I guess I'm kind of reserved in paying someone for a product that I'm never going to see and hope they pay me out.

[Exidous]

I've been reading up on group buys and have been looking at it, but most of them want BTCs as payment, so it goes back to how do you get BTCs without mining them? Paying someone 20% more than what they are worth on localbitcoins? I guess I'm kind of reserved in paying someone for a product that I'm never going to see and hope they pay me out.

Go to coinbase.com and buy bitcoins at current market value....

[DrG]

I've been reading up on group buys and have been looking at it, but most of them want BTCs as payment, so it goes back to how do you get BTCs without mining them? Paying someone 20% more than what they are worth on localbitcoins? I guess I'm kind of reserved in paying someone for a product that I'm never going to see and hope they pay me out.

Go to coinbase.com and buy bitcoins at current market value....

+1 this.

Only reason to mine:
1) You want clean coins (solo mined with no transaction history)
2) You enjoy mining more than you enjoy profits (this currently applies)
3) You want to support the network.

Buying coins is the better investment right now.  If you absolutely have to buy something now that is in stock, Antminer I suppose. Even KNC Jupiters and Neptunes are a gamble.  CEX/Cloud mining is tossing $ down the drain unless you get lucky flipping to others (and if you're that lucky go buy lotto tickets = satoshi dice)

[kmarei]

Buy bitmain antminers that do 180gh/s each
You can buy 5-6 and get close to 1th/s way before any product on the market has that kind of power
I ordered 2, and will buy a few more coins and add a third
At 3.15btc each they are a great deal
So for 9.45 bitcoins you have same hash power as the October jupiters
If you overclock them to 200gh/s you'd have 600gh/s

I don't believe there is anything close to that kind of power IN STOCK and that cheap on the market today

[pjcltd]

I had 370ghs on cex.io
I never had a problem with cex.io
But when the ant miners came out I sold up my btc and got 3 of them
Now I have 549ghs instead of the 370ghs I had

I still use cex.io as a btc bank because you can make something from your btc's as long as the ghs price dose not drop
Like it has today
I sold mine at .071 they are at .051 now

[klondike_bar]

Buy bitmain antminers that do 180gh/s each
You can buy 5-6 and get close to 1th/s way before any product on the market has that kind of power
I ordered 2, and will buy a few more coins and add a third
At 3.15btc each they are a great deal
So for 9.45 bitcoins you have same hash power as the October jupiters
If you overclock them to 200gh/s you'd have 600gh/s

I don't believe there is anything close to that kind of power IN STOCK and that cheap on the market today

seconded. the antminers are one of the best bets at a profit, though 3.15btc each now may be too much. (2.75BTC would be more appropriate)

I bought a 4.75BTC and 4.25BTC antminers, and between them they have returned just over 4.9BTC.