Newbie wanting to start mining

[Lucif3r]

Hey guys,

I want to join the Bitcoin mining horde and what hardware I am thinking about buying is this Butterfly Labs' 600 GH/s card http://www.butterflylabs.com/monarch/

Is it a good investment right now? Is this site calculator any accurate http://bitcoinwisdom.com/bitcoin/calculator ? It shows I can get back my money (new price of the card is $2196 instead of $4680 as shown on that website) in less than 20 days if I start now. If all the numbers are true or close to what I will get, it is darn good investment for a Bitcoin newbie like me.

Thank you all for your inputs.

[torusJKL]

Hey guys,

I want to join the Bitcoin mining horde and what hardware I am thinking about buying is this Butterfly Labs' 600 GH/s card http://www.butterflylabs.com/monarch/

Is it a good investment right now? Is this site calculator any accurate http://bitcoinwisdom.com/bitcoin/calculator ? It shows I can get back my money (new price of the card is $2196 instead of $4680 as shown on that website) in less than 20 days if I start now. If all the numbers are true or close to what I will get, it is darn good investment for a Bitcoin newbie like me.

Thank you all for your inputs.

The key words of above statement are "if I start now".
You will not start now. That I can promise you.
BFL does not have a very good record of keeping their delivery promise.

Chances are very good that until you will receive it the difficulty is that high that it will never ROI.

My advice: Stay away from pre-orders.
Only buy what is in stock and delivered to your door within 3-4 days.

[goebat]

Listen to torusJKL - he speaks the truth.

[Lucif3r]

Hey guys,

I want to join the Bitcoin mining horde and what hardware I am thinking about buying is this Butterfly Labs' 600 GH/s card http://www.butterflylabs.com/monarch/

Is it a good investment right now? Is this site calculator any accurate http://bitcoinwisdom.com/bitcoin/calculator ? It shows I can get back my money (new price of the card is $2196 instead of $4680 as shown on that website) in less than 20 days if I start now. If all the numbers are true or close to what I will get, it is darn good investment for a Bitcoin newbie like me.

Thank you all for your inputs.

The key words of above statement are "if I start now".
You will not start now. That I can promise you.
BFL does not have a very good record of keeping their delivery promise.

Chances are very good that until you will receive it the difficulty is that high that it will never ROI.

My advice: Stay away from pre-orders.
Only buy what is in stock and delivered to your door within 3-4 days.

Thank you torusJKL for a very helpful post. I was a bit worried about delivery date too after reading my posts here about pre-order nightmare so I emailed them asking their delivery date and no response yet.

For other choices in hardware, what do you recommend? I prefer add-in card like the Monarch because it's easier to have someone in US order 1 for me and ship to me in Vietnam.

[anarchyx914]

I have also had friends who bought into BFL products, and it took several months for them to get them... I'd recommend trying to get into LTC Mining, and convert those into BTC. The price of AMD GPUs has went up alot, but at least its worth something if the bubble crashes. The way I justified my investment was me telling myself, if BTC crashes, the BFL units would be worthless, but there is always gamers who would buy GPUs.

[eteo]

I mine cryptonium here http://crn.mineallcoins.com/ but i have not the faintest idea of what to do in order to have poll mining. I have done everything the get started page asked...

[eteo]

I am using a laptop and my current hash rate is 2500 hashes/sec. Furthermore my wallet says "8 active connections to Cryptonium network". The difficulty is set to 4. Am i going to have any blocks by solo mining or its a waste of time?

[torusJKL]

Thank you torusJKL for a very helpful post. I was a bit worried about delivery date too after reading my posts here about pre-order nightmare so I emailed them asking their delivery date and no response yet.

For other choices in hardware, what do you recommend? I prefer add-in card like the Monarch because it's easier to have someone in US order 1 for me and ship to me in Vietnam.

I bought products from Friedcat (Block Erupter) and Bitmain (AntMiner).
They are both on this forum and only sell products they can send within days.

I mine cryptonium here http://crn.mineallcoins.com/ but i have not the faintest idea of what to do in order to have poll mining. I have done everything the get started page asked...

Please don't hijack this thread.
You should start a new thread instead.